Banks brace for first royal commission report

The first report from the royal commission, due on September 28, will give banks their first clue about Ken Hayne’s thinking.

Kenneth Hayne oversees a hearing of the banking royal commission. Pic: David Geraghty

The market is expecting the first report from the banking royal commission on September 28, the day before the AFL Grand Final.

It will be the first chance for the banks and other institutions to get some idea what commissioner Kenneth Hayne is planning.

His final report is due in February next year.

With the exception of NAB, which has continued a business-as-usual, the big banks have kept public discussion to a minimum while the commission hearings are underway.

LIVE: Banking royal commission

But the interim report, focusing on the first four sessions of hearings, will provide some guidance for the financial institutions.

This comes as the financial years for three of the Big Four banks also ends on September 28, allowing them to include some commentary in their full-year reports and annual meetings later in the year.

NAB today released new guidelines for executive pay in line with APRA’s recommendations.