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.
Banks have also raised their interest rate buffers and increased their “genuine savings” requirements. Low-doc and non-conforming loans have become much harder to obtain.