Australia's banking sector may duck, for now, a threatened royal commission if betting markets, and, to a lesser extent, opinion polls, are any pointer to the outcome in tomorrow's election.Bookmakers have a switch to a Labor government at odds ranging from 8:1 to 9.1 and the Liberal National coalition a seeming certainty to secure a second term in office. This is the banking industry view as well."From all I see publicly and hear privately, Labor is not close enough to win," Stephen Munchenberg, executive director of the Australian Bankers Association, said yesterday.Asked about voters' views on the proposed royal commission - a policy of both Labor and Greens - Munchenberg said the ABA's own polling showed the policy was "superficially attractive". "On a binary call, most say 'yes'," he said."If you ask them if they like a royal commission or tangible action now, they like to see tangible action now. But it's not a vote decider."Asked for an update on the industry's six point plan for "comprehensive new measures", outlined in early May, Munchenberg said the ABA was prioritising two industry reviews included in that package: bringing forward the review of the Code of Banking Practice and a review of product sales commissions.?Other measures in the industry plan, Munchenberg said, were principally for individual banks to work on.These include commitments to "ensure the highest standards of whistleblower protections by ensuring there is a robust and trusted framework for escalating concerns," lifting standards for "whistleblower protections by ensuring there is a robust and trusted framework for escalating concerns" and "establishing an independent customer advocate in each bank.""We're working away on those," Munchenberg said.One aspect of the package is more difficult to progress; "an industry register which would extend existing identification of rogue advisers."Munchenberg said the "registers of bad apples - that's a very complex issue, with privacy and defamations considerations."It's full steam ahead irrespective of the election outcome."The ABA has engaged Ian McPhee, a former auditor-general, to oversee the implementation of the industry measures while Gina Cass-Gottlieb, from Gilbert + Tobin Lawyers, is leading work on governance arrangements around the plan.