this is harry, metairie.ot a good long-term holders of capital, whether it is deposits capital, long-term as additional capital, or for the regulatory reasons, they are highly efficient from a return on equity standpoint. to be able to source capital at scale managed by fiduciaries like agl which in our case because of this integrated involvement, we can do a better job as a lender and asset manager by the full all of the information that a gigantic global bank can bring us. sonali: given how big the private credit markets are becoming, how much money is coming at his system and how much they are increasingly starting to not just to deals but more and more the american economy if not the european one. do you think regulators will play a bigger role in terms of handicapping some parts of the system? peter: i don't think so. we are talking about most of this capital as long-term institutional capital. this capital is committed long-term. some people would use the term lock up. it is permitted long-term, there i