BIS Review 68/1997  -3-  Efforts to reduce regulatory burden apply not only to banks, but to holding companies as well. Earlier this year, for example, the Board streamlined Regulation Y and reduced application requirements.
And in case you feel that New Zealand's performance was substantially worse than Australia's over that period, it is worth noting that the domestic purchasing power of the Australian dollar also fell heavily over the 30 years from 1967, by over 85 per cent.