And staying with you, Andrew, bringing it down to day-to-day work, do we expect any of these proposed changes to have meaningful impact on how we analyze underlying exposure data?

Sure.

So when it comes to the impact of the proposed new, uh, FCA loan-level templates, uh, of course, the most affected asset classes for us, um, they're gonna be the ones where we use that granular loan-level data as a, as a direct input, essentially, into our analytical process.

For example, uh, RMBS is an asset class like that.

We use loan-level data to run our predictive credit model.

Um, that's something that we use to forecast portfolio-level default rates as well as, uh, loss severities across our rating spectrum.

Um, and that's something we have to do quite frequently during the course of both our surveillance and monitoring process and also, of course, uh, in the new issue process as well.Generally, uh, I would say that the new FCA template, uh, for RMBS is not that different to the old one.

In your view, would the template changes have any impact on the, the performance or, uh, the day-to-day how we run our models for the SME, uh, CLOs?