An increase of 1% inCARA total (CARB total) over the previous two quarters correspondsto an increase in liquidity creation of 0.133 (0.214). However, whenonly common equity (without preferred equity in Tier-1 capital) istreated as capital (CARC total), the relationship turns negative. Thedifferences in results highlight the fact that the relationship betweenregulatory capital and liquidity creation is sensitive to how regulatorycapital is defined.