This chapter provides an overview of the Financial System Inquiry’s Final Report. It sets out the Inquiry’s starting point for considering how the financial system can meet Australia’s evolving needs and support sustainable economic growth. This includes outlining the Australian context in which the Inquiry has made its recommendations, the characteristics of a well-functioning financial system and the Inquiry’s philosophy of financial regulation. This chapter discusses the two general themes that permeate much of the Inquiry’s thinking: the effectiveness of the financial system in funding the economy and the importance of competition in the financial system. It also provides a brief summary of the five specific themes detailed in the remaining chapters of this report.

Figure 1: Guide to the Financial System Inquiry Final Report

This figure summarises the structure of the Final Report.  It includes the terms of reference and objective. The overview includes the Australian economic context; Characteristics of a well-functioning system; Approach to financial system regulation and two general themes (funding the Australian economy and competition). The remaining chapters cover five specific themes and are titled: Resilience, Superannuation and retirement incomes, Innovation, Consumer outcomes and Regulatory system. Significant matters, tax summary and SMEs are included in the Appendices.

View image enlarged