The larger banks have filled the gap left by the decline of the wholesale lenders, so that there has not been a material constraint on the quantity of housing credit available in Australia throughout the crisis.
There has, however, been some tightening in lending standards, with several banks reducing their maximum LVRs on prime, full-doc loans for new borrowers from 95–97 per cent to  relative to equivalent maturity swap rates (and by more relative to the cash rate because of the current slope of the yield curve). BIS Review 39/2010  9  about 90 per cent during 2009.