In a sign lenders may be resigned to changes that would make them safer but potentially less profitable, the chairmen of both ANZ and National Australia Bank backed the approach of inquiry chair David Murray on Thursday.

Mr Murray last week called for banks' capital levels to be "unquestionably strong" to ensure foreign investors would continue to provide them with funding during a crisis.

Joining Westpac, ANZ and NAB also shied away from openly criticising the recommendation that Australia's banks have higher capital levels than most global peers.

NAB chairman Michael Chaney told the bank's annual general meeting in Brisbane the inquiry "has been a necessary and important process and we fully support initiatives that create a more efficient and stronger financial system".

"I think it is a very good report," he said.

"We believe our balance-sheet strength positions us well to meet regulatory changes and we look forward to continuing to work with government and regulators to ensure Australia continues to enjoy the benefits of a world-class financial system while avoiding impediments to economic growth," he said.

ANZ chairman David Gonski, meanwhile, applauded the inquiry's "principles-based" approach, telling the ANZ AGM in Melbourne he supported its referral to the Australian Prudential Regulation Authority of decisions about the ultimate level and form of higher capital.

Both chairman said their banks already had strong capital levels and were well placed to meet any additional demands.

Mr Gonski said the board had been managing its capital position, which affects dividend payouts, and was aware of the need for banks to be "unquestionably strong," as Mr Murray recommended.

"I assure shareholders that your bank has been actively managing its capital position in anticipation of this and will continue to do so," Mr Gonski said.

The comments are in part a sign of relief that the inquiry did not recommend specific or urgent capital targets for the banks – an outcome that investors feared  could have resulted in emergency capital raisings.

Instead, Mr Murray recommended APRA have discretion to implement the changes.

Mr Gonski said ANZ had a good working relationship with APRA, and also praised Mr Murray's decision to maintain a system of "risk weights" that allows the big four and Macquarie to hold less capital for every dollar lent out than rivals.

The government is now consulting on whether to implement Mr Murray's 44 recommendations and banks will make further submissions.

However, the response from banks to the report so far suggests they have become less critical of the move to hold more capital now that the report is public.

ANZ had been one of the most vocal critics of higher capital charges before the inquiry was finished, with chief executive Mike Smith threatening to push up home loan interest rates.

Westpac chief executive Gail Kelly had also warned bank dividends could be affected by any move forcing lenders to hold bigger capital buffers.

But when he released the final report on December 7, Mr Murray said the chiefs' claims about the cost of reform had been exaggerated. Treasurer Joe Hockey has warned lenders against running a public campaign against any moves to make them more resilient.

"I think it would be unwise for the banks to respond with that sort of ­campaign," he told Fairfax Media. "This is about the security of the financial system."

The less strident criticism also suggests the big banks may be reluctant to publicly take on the government over Mr Murray's recommendations for a safer banking industry, instead focusing on lobbying in private.