In 1994, the United Nations adopted  ‘fundamental principles of official statistics’ recognising that reliable and objective information through official statistics is crucial for decision making. Statistics New Zealand developed ‘principles and protocols for producers of Tier 1 statistics’ in a similar vein, encompassing principles of relevance, integrity, quality, coherence, accessibility, confidentiality, etc.
Business decisions must be left to those being paid to make them. However, supervisors have to know – and understand – how banking works. Against this background, I personally would very much welcome an increase in the migration of staff between the banking industry and the supervisory agencies.