Productivity Commission takes a swipe at banking regulators

From Clancy Yeates at The Age:

The Productivity Commission last month took aim at speed limits imposed on lending to property investors in 2014, and 2017 caps on interest-only lending, saying the policies were a “blunt intervention with detrimental effects on market competition”.

The commission’s draft report on competition in finance said regulators were putting too much emphasis on stability, and argued the watchdog’s loan caps had boosted big bank profits while making it harder for smaller banks to compete….

Bank regulators are “putting too much emphasis on stability” ??

I thought April 1st was next week.