Banks are no longer able to fully pass on interest rate cuts...

Banks are no longer able to fully pass on interest rate cuts because the short-term money market that the RBA manipulates to create artificial interest rates has become separated from the true cost of funds. Any bank operating in this environment whether gov or private would be operating in the same market.

What we are witnessing is not greed but a symptom of disfunctional global financial system. Central Banks have decided to play chicken with the world but the maths is against them. You can't cheat maths.