What's it been doing in the absence of deals?

Well, the task force has been, well, first of all, the task force is composed of around 30 people coming from the different, well, all our members, members of the ECBC, coming from different jurisdictions.

So they are bringing their expertise in their own national markets And so with the task force, we have been writing, we have been preparing a blueprint which is published, which is publicly available on the ECBC website, where we address the certain topics about the ESN, such as eligibility criteria, possible financial structures and also the gap between you know what could be missing on the cover bond framework the cover mainly the cover bond directive what can be missing for a different asset class as the SME asset class SME exposures and the the important thing is that the the members of the task force have brought their, I mean, the peculiarities of their own national markets.

So, what an SME exposure is, is not the same in every jurisdiction.

So, we have inputs from, you know, from Greece, from France, from Italy, and from other countries.

So, this has been very, very useful in trying to define the overall characteristic of the product.

And today we've been having this discussion here in Brussels and I was very, very, let's say, positively impressed to hear the features of the criteria of the asset eligibility of the BPI program, seeing that they merely coincide with what one can find in the ESN blueprint.

How do we get from where we are today to there? What's the role of the ECBC in that?