If, instead of declining, productivity in these selected service industries was flat, to up a modest 1 percentage point per year, the implicit aggregate price bias associated with these service industries alone would be on the order of 1/2 percentage point or so per annum in recent years -- very similar in magnitude to the Boskin Commission estimate of total quality adjustment and new products bias.
Additionally,  the  orderly  intervention  and  revocation of these licences and the purchase and assumption transactions that ensued minimized the potential adverse impacts by ensuring that about 70 percent of the 5,000 jobs in the affected banks were saved. This would be contrasted to what could have been the imploding of these banks and the contagion that could have resulted.