Murray to shape our financial world

David Murray, chair of the Financial System Inquiry. Photo: Dominic Lorrimer

What you need to know about theMurrayinquiry

If history is any guide, David Murray's financial system inquiry will shape the landscape of banking, superannuation and insurance for years to come.

Its final report, to be published on Sunday, follows in the footsteps of inquiries that have had profound legacies for consumers, businesses and the entire economy.

The 1981 Campbell inquiry paved the way for a wave of deregulation, and the 1997 Wallis inquiry recommended Australia's modern system of market and banking regulation.

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There have been seismic shifts in finance since Wallis: a six-fold rise in the $1.9 trillion superannuation pool, a sharp increase in the share of bank loans going to housing, and a shift towards greater concentration in banking.

Depending on what the government decides to do with Murray's recommendations, it has the potential to affect just about everyone in Australia.

But as we learnt during the global financial crisis, finance can be so complex that even many bankers do not truly understand it. With that in mind, here's our guide to the topics that matter most.

Bank capital

Original post:
Murray to shape our financial world