In this way, members have the space to compare the analysis they were prepared beforehand to the analysis which is given to all members at the same time at the central bank. In my view, this is not in contradiction with the transparency and accountability of the decision-making itself.
This will provide banks with more scope to manage the existing pipeline of pre-approved lending. Based on our experience with the existing LVR speed limit, it is expected that the actual flow of high LVR lending to Auckland investors will settle well below 5 percent as banks adopt a buffer to ensure compliance.