Banks want impact analysis on new levy

The Australian Bankers' Association has called for the government to release analysis of the major bank levy on the economy and extend the consultation period.

The banking lobby has asked for analysis of the impact of the major bank levy on the economy. (AAP)

The banking lobby has asked the federal government to release analysis of the impact of the major bank levy on the broader economy, including households and businesses.

The Australian Bankers' Association has also told Treasury that introduction of the proposed new major bank tax disregarded the government's own best practice guidelines and demanded a longer consultation period.

"It is an understatement to say that this tax requires a thorough regulatory impact statement," ABA Chief Executive Anna Bligh said on Monday.