When David Murray's panel this week produced its interim report of the Financial System Inquiry, Federal Treasurer Joe Hockey moved half way towards notching up at least one more goal of the nine point plan for financial services he presented back in October 2010.  Below is a snapshot of how the remaining eight points in Hockey's "positive policy suggestions" on banking have fared under the Murray inquiry:1. Power for the ACCC to investigate collusive price signalling, as called for by ACCC chair Graeme Samuel. The Gillard government reacted to the Coalition's criticism by introducing its own price-signalling bill, which attracted widespread criticism from legal academics as well as business groups. The bill was passed into law and took effect in 2012. 2. An APRA investigation into "whether the major banks are taking on unnecessary risks in the name of trying to maximise short-term returns."  Yet to be made public, if underway, and Murray's inquiry is approaching the issue at a tangent. The plan is to increase bank capital, making a protected industry think about its costs and the benefits it receives.3. Regular RBA reporting on bank net interest margins, returns on equity, and profitability "so that we can all determine whether the major banks are extracting monopolistic profits."  Not really endorsed by Murray, but his panel did champion measures to redress other information asymmetries, so this one could be picked up.4. Investigating proposals to have smaller lenders distribute loans through the Australia Post branch network. Ignored, so far.5. A Treasury and RBA investigation of ways to further improve the liquidity of the residential and commercial mortgage-backed securities markets. Embraced by Murray as a real option.6. Further simplification of the Financial Services Reform Act.Tinkering is at the core of most of Murray's options to lower industry costs, but so too is "a move towards more default products with simple features and fee structures."7. An APRA investigation into whether the risk-weightings on business loans secured by residential properties are punitive. Considered, mainly in the context of reshaping risk weights in a way that favours smaller lenders. Murray also pushed support, maybe via a subsidy, to help regional and mutual banks follow the best practice of big banks, especially regarding capital allocation.8. Deciding whether to let banks issue covered bonds. Pre-empted by the previous Labor Government, when it amended regulations to allow Australian banks to issue covered bonds from early 2012 onwards.