For the major banks, it’s all about Murray

The latest bank results are interesting, but the real story is around capital and the likely recommendations from the Financial System Inquiry.

There’s been a curious sense of irrelevancy about the latest round of big bank results as the sector awaits the looming final report of the Murray inquiry into the financial system.

Despite a generally clean set of results and strong capital positions, the major banks rightly suspect that the inquiry is out to get them.

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