It indicated that it would be alert to annual growth in a bank’s investor housing lending above a benchmark of 10 per cent. It also set some more prescriptive guidelines for serviceability assessments and intensified its scrutiny of lending practices. ASIC also undertook a review of lending with a focus on whether lenders were complying with responsible lending obligations.
Currently, the CBN works with the newly-introduced Economic and Financial Crime Commission and the law enforcement agents, on the dissemination of information obtained through state-of-the-art data processing techniques. Going forward in the efforts of the CBN reengineering, it will be possible to expand the available techniques, using leading edge analytical tools for data mining and massaging.