Figure 3 illustrates that New Zealand’s improvement is unexceptional amongst the advanced economies shown.6 That several other countries have seen an improvement could reflect common/global factors such as low rates of investment since the GFC,7 and lower global interest rates.
In summary, the Federal Reserve’s wide range of expertise makes it uniquely suited to supervise large, complex financial institutions and to help identify risks to the financial system  6  For additional information, see Board of Governors of the Federal Reserve System (2009), “Federal Reserve Issues Proposed Guidance on Incentive Compensation,” press release, October 22.