The (population and dwellings) census is arguably New Zealand’s biggest project in any one year, involving over 7000 employees, every New Zealander, and a budget of approximately $ million.
The trend was also increasingly more towards a ‘light touch’ regulation of banks, with moves in a number of countries to more self-regulation. The macroprudential view was not very widespread. At that time, many central banks had only implicit financial stability mandates or no mandate at all in this respect.