All the heat of the Economics Committee of the House of Representatives will be thrown at Australian bank chief executives when they make their annual appearance before it.  Prime Minister Malcolm Turnbull spelled out the plan yesterday.This political response to the week's mortgage pricing flap affords key bank CEOs an opportunity to present in a forum bound to draw more notice than the typical flare of industry PR.Australian Bankers Association chief executive Steven Münchenberg responded, saying: "The Federal Government is entitled to call the banks before a parliamentary committee, however no other businesses are required to justify their commercial pricing decisions in this way.""We are confident banks can explain why the interest rates they set for borrowers are determined largely by the costs of funds and the pressures of a highly competitive market, not the Reserve Bank cash rate," he said. "Since the start of the global financial crisis, over eight years ago, the Reserve Bank's cash rate has not mirrored the actual funding costs of banks. Banks have explained repeatedly why the Reserve Bank does not set interest rates.""In making interest rate decisions, banks have to balance the needs of borrowers and savers, and shareholders in banks, most of whom are also ordinary Australians. "The industry welcomes the opportunity to discuss the international and domestic context for banks, and how we are responding to concerns around bank practices."ABA chair and National Australia Bank chief executive Andrew Thorburn issued letter to all stakeholders. It said: "I have indicated to the Treasurer I will accept the invitation to attend the committee and discuss the way we balance the needs of all stakeholders, including borrowers, depositors, investors and shareholders. "We believe our key responsibility is to help people with important financial decisions and to build a stronger economy."