It was also noticeable when these same entities began to tighten lending standards during the later years of the last expansion, in contrast to typical patterns where tightening occurred near or after the peak. It is also apparent in the continued strength in the portfolios of these entities during the recession.
In this regard, one can cite historical, political and other factors like work culture and working relations (which are mainly governed by bipartite settlements between the managements and the staff members) as the main constraints.