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The Australian Prudential Regulation Authority will push ahead with two of three proposed reforms but will delay the most controversial liquidity rule change for smaller banks, following claims it would cost them more than $100m in profits.

Meanwhile, Oxford Economics Australia data is expected to show new non-residential projects declined 4 per cent to $51.87bn during the 12 months to June 30. That's prompted investment groups to urge government reform of the construction industry.

And Perpetual’s asset management business was a sea of red in the June quarter as all divisions recorded falls in assets when investors withdrew their funds. All up, $8.9bn flowed out of its asset management funds in the three months to the end of June.