It was David Murray’s lap of honour, and it would have gone entirely unremarked, but for the small group of people who gathered in Sydney this week to hear Murray’s reflections on his namesake inquiry that was published exactly 10 years ago this Saturday.
His key recommendation – for banks to boost their equity buffers by billions of dollars – had protected the Australian economy from the COVID-19 crisis and would stand the test of time, he said.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
