evidence: Background. The first confirmed COVID-19 case in New Zealand was reported on February 28, 2020. On March 25, 2020, New Zealand moved to Alert Level 4 restrictions after domestic transmission of the virus was found. The authorities declared a state of emergency and implemented strong containment measures, including the closure of all non-essential businesses, cancellation of all events and gatherings, and closure of schools. This followed the closure of all borders to non-residents on March 19, 2020, with returning residents required to enter into two weeks of supervised quarantine since April 10, 2020. After a gradual reopening through Alert Levels 3 (April 28, 2020) and 2 (May 13, 2020), New Zealand moved to Alert Level 1 on June 8, 2020, lifting restrictions on personal movements, gathering, workplaces, and services. While the virus has been effectively suppressed since then, there were subsequent, brief localized lockdowns in Auckland in August/September 2020 and February/March 2021. On June 23, 2021, Wellington was placed under Alert Level 2 restrictions after a visit by an infected Australian tourist. Vaccinations have begun, with 7.8 percent of the population fully vaccinated. The authorities expect to fully vaccinate the eligible population by the end of the year. [...] The New Zealand government, the RBNZ, and the New Zealand Bankers Association have also announced a number of financial measures to support SMEs and homeowners. These include six-month principal and interest repayment deferrals to mortgage holders and SMEs affected by COVID-19 and the BFGS. The concessional regulatory treatment of loans on repayment deferrals ended on March 31, 2021.