The governor of the Reserve Bank of Australia on Friday adopted a stance more in line with that of banks in Australia, but inconsistent with that of bank regulators in Australia and elsewhere, in the debate over revised liquidity standards for banks.At a periodic appearance before the economics committee of the House of Representatives in Canberra on Friday, Stevens said: "What we need here is to just make sure that there is a certain amount of national discretion, which there always is in these capital rules."Stevens went on to explain to the committee that bank regulators worldwide were adapting a long-running fixation with capital to spend more time thinking about liquidity risk."The main point is that we do need to make sure that as far as we can there is adequate national flexibility. We are saying that. The work at the technical level needs to be allowed time so that this is all done sensibly."John Laker, the head of APRA, at an appearance before the economics committee of the Senate two weeks ago, appeared to defend the international regulatory consensus when addressing the same topic, noting that the G20 proposals are "intended to recover confidence so our banks can tap markets. So you need stronger banks around the globe and that's why it's a global initiative."