Mr. Jeremy Masding:

At a principle level, we believe the prudential limits have made the mortgage lending market more robust. We think the measures promote a degree of resilience to financial shock as experienced during the crisis. Therefore, at a principle level, we support the objectives of the rules such as increasing the resilience of the banking system, increasing the resilience of household sectors to financial shock and dampening the dynamics between property lending and house prices. At a principle level, we are advocates of the rules. At the outer margin, as we all learn, there can be changes to the rules to make them more effective. If those changes come in then we will respond accordingly in terms of our lending policy. In terms of the Senator's question on the principle of the macro prudential rules, then we are advocates of those rules.