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Yep it was all theoretical at that point - but did give some foresight as to what may happen (and is happening now!). Aussie regulator way of dealing with financial system risk build up is a bit different to other countries. 1. Wait and see. 2. Collect data. 3. Quite word. 4. Harsh...

Very interesting - thanks for sharing. To me this type of policy adopted across the tasman only increases the chances of it being used temporarily in Sydney. Its 'out of culture' for Aussie policymakers to adopt this type of policy (more often adopted in asia). Its very interventionist...