This does change the supervisory dynamic, with changing risk appetites in firms, increased confidence and a desire to move on from legacy issues. This is perfectly understandable, but in many sectors, serious legacy issues do remain. System and firm resilience is much improved from pre and during the crisis, but vulnerabilities are still significant.
Our paths first crossed in the late 1960s - although neither of us has much recollection of it - when Di was a lecturer and I was a tutor in the Economics Faculty at Monash University. Since then, of course, Professor Yerbury has gone on to an illustrious career in academia, government and university administration.