A wind back in risk-weighted assets, at least in the institutional bank, will inform a strategic repositioning of ANZ's business mix over the next 12 to 18 months.A rare, yet adverse, profit "surprise" for the half year to March 2016 provided the platform for ANZ's still newish managing director, Shayne Elliot, to recast the bank's thinking in a manner that engages with the most trenchant investors' criticisms of the bank's stance under his predecessor."We recognise the difficult trading conditions facing institutional banking businesses globally," Elliot said.?"We are resetting the business aggressively, reducing the capital allocated. Not by business or geography but by looking at the capital allocated to customers."?ANZ's institutional bank has already cut the balance sheet by A$17 billion in assets and by $16 billion in risk-weighted assets, a process escaping little scrutiny until now.The converse to the reset on the institutional bank is a rev up of the domestic franchises in Australia and New Zealand, with market share and interest margins up.The rethink extends to the bank's dividend policy, with a target payout ratio of 60 per cent to 65 per cent down by five percentage points and less than that of its peers.