Bank of Sydney and Bank Australia are the only two lenders to have so far announced that they will pass on the full 25 basis point reduction in the cash rate.Suncorp joined the big banks in passing only a portion of the Reserve Bank's cut. It will reduce its standard variable rate for owner-occupiers and investors by ten bps.Suncorp will also reduce its small business variable interest rate by 15 bps and offer a new 12-month term deposit offer of three per cent - up from 2.75 per cent - for deposits greater than $100,000.ANZ has announced that it will cut by 12 bps, Commonwealth Bank by 13 bps, National Australia Bank by ten bps and Westpac by 14 bps.Prime Minister Malcolm Turnbull said banks should pass on the full rate cut. "They operate with a very substantial social licence and they owe it to the Australian people and their customers to explain fully and comprehensively why they have not passed on the full rate cut," he said.There were renewed calls for a banking royal commission yesterday, although the Prime Minster does not support this option.[Note: an earlier version of this article incorrectly stated that ME Bank had also lowered its standard variable mortgage rate. ME is yet to announce any rate changes.]