APRA - thoroughly liberal?

When he became prime minister last month, Malcolm Turnbull pledged to lead a "thoroughly liberal government, committed to freedom, the individual and the market". For the record, I support him. However, does the role and impact of APRA accord with principles of the government? 

APRA oversees a banking and insurance industry that controls around $5 trillion of funds. Following their extraordinary measures across all our major lenders that has increased rates and diminished loan affordability - where is the government and their commitment to the individual and a free, non-manipulated market? 

http://www.theguardian.com/australia-news/video/2015/sep/14/malcolm-turnbull-pledges-thoroughly-liberal-government-videoless