“we think there should be you know, opportunities for us to benefit from that when they become final.”

In context

“ece them out a little bit. So, of course, we are waiting for the finalization of the rules as it relates to Basel 3. Fujisib and in particular the SUV. As I mentioned in the past, Basel III and G SIB provide us in our early analysis with a moderately net positive position and that emanates from, on the positive side, the GZ coefficient playing through. As well as some of the RWA weights in retail and corporate and that is, you know, partially mitigated by the, you know, operating risk and, you know, the market's risk factors that I think lot of people are familiar with at this point. And so that could be 1 element that plays through. The second piece is the stress capital buffer. Stress capital buffer, there is a couple of vectors there. Right? 1 of them is of course, the final rules, and we think there should be you know, opportunities for us to benefit from that when they become final. But importantly and more within our control and hopefully the DFAST results, if they do not take hold, really, for this year, and we will see on the back of the new rules in October 2027 the real changes hopefully, as a signal you can take away, and that is how we saw it, the 30 basis point improvement, the third year in a row of improvement of that SCB that came for us down from the 4.3% to the 3.6% that we are under right now and the DFAST results that just came out take it down to another 30 basis points through 3.3. That tells you that how the strategy is working. Right? And we talked about this at investor day. Strategy work in terms of we have exited the international consumer franchises, number 1. Number 2, our PPNR position continues to sequentially improve year after year. So our”