How boring is the FOFA debate? So avoidable, so predictable and so all consuming - it's a bit extraordinary how much of the Murray inquiry commentary starts with an advice slant.Murray had a message at the Press Club on Tuesday, one not explained in as convincing language in his panel's interim report of the Financial System Inquiry. He put financial stability forcefully in this speech, and at the forefront of his thinking.The inquiry's interim report is leaving the industry guessing. It's all too easy to attach one's prejudice to a favoured option and imagine Murray's mob will follow you.The implications for bank capital are getting a thorough work out. UBS had some pretty high numbers yesterday.The capital impost is making the industry think about costs, meaning the conversation on business models might make it past the superannuation barrier.The only financial sector cost really highlighted, though, was superannuation - a real case of capture of the panel by retail bank interests.In return, banks were given the message that Basel III and international consistency on regulation is here to stay.APRA and RBA will stay the way they are. There will be a fiddle with an overhang authority but there seems no mission to make this a single regulator - and at best a court of appeal.The panel mostly avoided the technology bug, thinking mainly about barriers to entry, baked into rules and process. Insurance got neglected. The report does, at least, note a greater vitality in retail brand competition in insurance, something the banks faced in the 1990s but is far less prevalent now. So, there's at least one topic left for the panel to elaborate on in their final report.