My first question to the Minister—and I do acknowledge that he's in the chair and thank you for coming down this afternoon—I suppose the first question relates to the role of the Reserve Bank and the Financial Markets Authority (FMA) as a regulator for financial market infrastructures (FMIs) and there's–both organisations have a role in it, and that's quite a fundamental sort of question. I know there's been a lot of debate about it. I was just particularly interested in the Minister's view on what the roles of the Reserve Bank and FMA are, and how that's going to work, and how they're going to resolve differences over time.