Treasurer Scott Morrison has met with Commonwealth Bank chair Catherine Livingstone, warning all options are on the table for a government response to alleged breaches of money-laundering laws.
Mr Morrison is taking advice from the banking and corporate regulators as well as Treasury.
"I have made it very clear to the Commonwealth Bank ... the government's response is prepared to consider all options," he told parliament's question time on Tuesday.
Opposition Leader Bill Shorten had asked Malcolm Turnbull how many more bank scandals it would take before the prime minister supported Labor's call for a royal commission.
Before hand-balling the question to his treasurer, Mr Turnbull said legal proceedings had begun against the bank and a royal commission would only cause a delay.
The CBA has suggested that 53,000 alleged breaches listed in a case brought against it by regulators could be treated as a single matter because they all stemmed from the same IT error.
Ahead of Wednesday's full-year results, the CBA board announced its executives will lose their bonuses as a result of this latest scandal, but retained full confidence in chief executive Ian Narev.
When asked earlier whether heads should roll at the nation's biggest bank, Finance Minister Mathias Cormann told ABC radio: "The government does not make decisions on who runs the banks."
Justice Minister Michael Keenan will reportedly introduce legislation to strengthen money laundering and terror financing laws within weeks.
