The recent regulator focus on macroprudential controls reminds me of when I started work in a bank treasury in the early 1980s. At the time, a 10% limit was imposed on loan growth, but banks found ways around the rules. They converted business loans to bank bill facilities which were not counted in the loan numbers, but provided the same credit for the client. They required borrowers to repay overnight loans on a Wednesday because it was the reporting day, and then lent to them again the next day. Let's hope those were the bad old days and banks don't behave like that now.