Board members discussed the Australian Prudential Regulation Authority's move to restrict interest-only lending to 30 per cent of new mortgages.
"However, it would take some time to assess fully the effects of the recent pricing changes and the increased supervisory attention," the minutes said.
This comes as a new KPMG Economics report suggested some of Australia's poorest householders are still taking on negatively geared property investments.
The analysis of data from the past two decades estimates the bottom 20 per cent of income earning households had the highest rate of growth in investment income.
Investment income from the lowest fifth of households has grown 8.5 per cent each year, compared with an average of 2.3 per cent over the past decade for other households.
The report noted this growth, along with a significant rise in the value of second mortgages paid by this segment, indicates a greater exposure to activities such as negatively geared investment properties.
KPMG Australia chief economist Brendan Rynne says people on low incomes were the worst placed to take on the financial risk associated with geared investments.
"It is clear from our analysis that if the bubble does burst it will not just be the better off who will be directly affected; the poor will be too."
CAPITAL CITY PRIVATE TREATY MEDIAN HOUSE PRICES
Sydney - $1,031,500
Melbourne - $720,000
Canberra - $640,000
Darwin - $565,000
Brisbane - $515,000
Perth - $490,000
Adelaide - $451,000
Hobart - $385,000
UNITS
Sydney - $740,000
Melbourne - $546,000
Perth - $408,000
Brisbane - $393,750
Canberra - $382,127
Darwin - $366,000
Adelaide - $330,000
Hobart - $300,000
Source: CoreLogic Property Market Indicator Summary week ending April 16, 2017.