A new Commonwealth Integrity Commission will be an avenue of interest for the hot and bothered among banking's mass market.The Australian Competition and Consumer Commission (ACCC), the Australian Prudential Regulation Authority, APRA, the Australian Securities and Investment Commission, ASIC, the Australian Taxation Office, and the whole of the Department of Agriculture and Water Resources will all be overseen by a law enforcement integrity division of CIC.Note - no RBA, at this stage.Announced yesterday morning by Australia's prime minister, Scott Morrison, the CIC tripped up the first day out for a quarterly statement from the Council of Financial Regulators."At each meeting, the Council discusses the main sources of systemic risk facing the Australian financial system, as well as regulatory issues and developments relevant to its members,'" the COFR said.On the bleeding obvious, the COFR said "members discussed the tightening of credit conditions for households and small businesses. A tightening of lending standards over recent years has been appropriate and has strengthened the resilience of the system. "At the same time, members agreed on the importance of lenders continuing to supply credit to the economy while they adjust their lending practices, including in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. "Members discussed how an overly cautious approach by some lenders to incorporating relevant laws and standards into loan approval processes may be affecting lending decisions."On the less obvious, the COFR said: "there is some evidence that non-ADI lending for property development is increasing quickly. "The Council supported efforts to expand the coverage of data on non-ADI