Murray has got it wrong on bank capital

Despite the noble rhetoric surrounding recommendations on bank capital, the Murray inquiry has failed to make a convincing case for change.

The Murray inquiry’s final report failed to make the case that Australian banks need to hold more capital. Indeed, it’s quite obvious from the report that there really is no case to be made. The concerns are baseless and symptomatic of the inability of many to disassociate themselves from crisis events abroad.

Consequently, the government has no option but to reject the recommendations on bank capital made by the FSI.

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