Why Australian Banks May Need $25B Extra Capital

David Murray, former CEO of the Commonwealth Bank of Australia, discusses his inquiry into Australia's financial system. The inquiry includes 44 recommendations, focusing on superannuation and the need for the big four banks to hold more capital. Murray's speech highlights the importance of adapting the financial system to Australia's unique circumstances, emphasizing resilience, consumer outcomes, and competition. The recommended increase in capital ratios for banks aims to ensure financial stability, though it has been met with some resistance from the banks.

What is the significance of the inquiry conducted by David Murray in the context of Australia's economy?

What is the expected increase in the capital ratio for banks according to David Murray?