>> i think we are following the governor's void and the advice of lloyd turner. the torii-party system is the way forward. self regulation is out for financial institutions. that is why a body like the financial service it is authority is important. you have to involve three institutions, and the bank of england has a major role to play. the reason that the group is formalized in this way is to recognize the importance of the three institutions being able to work more formally and institutionally together in the future, and that is the basis of the next stage of our financial stm. i believe other countries will follow us. >> you referred to the walker report, and you did so in the context of the action we intend to take. does this mean you accept it in its entire entirity, or do you have reservation sns if you have resslations, what are those reservations? >> ult ware has done a report with 3 recommendations. we will have to look at every one in detail, but the general recommendation that the role of chairman and the roll of executive directors and non-executive