Expected shortfall (ES) is a risk measure that does take account of expected losses beyond the VaR level. It was first proposed by Artzner et al. (1999) as an example of the coherent risk measure. Formally, the ES is defined as the expected loss conditional on the fact that the loss is greater than the VaR level. Lauren Li, FRM, is currently examining the properties of the ES. Under which of the following conditions will the ES drop in magnitude?