During his inaugural visit to the EBA in London, Michel Barnier spoke on the challenges facing the EBA. According to him the first challenge is the ongoing round of stress tests, which must be "credible and robust" and "ambitious in terms of disclosure and transparency". Another project for the EBA is remuneration. Michel Barnier stated that he will be watching this subject closely as "so far, it would seem that our appeals for modesty have had little effect". The EBA will also have a role in the fourth Capital Requirements Directive (CRD 4) and the Commission's package on crisis management and bank resolution. (Source: Note on inaugural visit to the European Banking Authority and Speech by Michel Barnier – a fresh start for bank supervision)