The comparison between the periods in 2010 and the periods in 2009 is limited due to several factors. In 2009, mark-downs and impairment charges were more significant than in 2010, whereas the first half of 2010 included specific features which were not present in the prior year. Firstly, 2010 included the consolidation for the first time of both Sal. Oppenheim Group and parts of the commercial banking activities acquired from ABN AMRO in the Netherlands. This has increased our revenue and expense run rates, as well as our balance sheet and invested assets. Secondly, deferred compensation expenses are significantly higher in 2010. This includes the impact of the U.K. bank payroll tax related to these deferrals. Finally, a shift in foreign exchange rates, and in particular between the U.S. dollar and the euro, contributed significantly to an increase in our reported euro revenues and expenses, with less material impact on net income, as well as to an increase in our balance sheet and invested assets.