Both the investor lending benchmark and the interest-only lending benchmark have been removed for banks that have provided assurances on their lending policies and practices to APRA. But the improvements in lending practices implemented by the banks over the past few years have resulted in credit conditions being tighter than they were a few years ago.
7 In his inaugural remarks as Chairman, Jay Powell underscored that it is our duty at the Federal Reserve to “approach every issue through a rigorous evaluation of the facts, theory, empirical analysis, and relevant research.” 8 That lens informs our community development responsibilities: we seek to learn from the experience of manufacturing workers, homeowners, community bankers, nonprofit executives, community organizers, and small business owners to help inform our policymaking.