Murray's work to shape our financial world for years to come

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

The biggest fear among bank investors is thatMurraywill increase substantially the amount of equity capital the big four must set aside. This would make banks more resilient but also dilute returns, and possibly raise costs for customers.

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Murray's work to shape our financial world for years to come