Treasurer Scott Morrison says he expects Commonwealth Bank board members and executives to resign following a damning report by the banking regulator.

Forced out of his pre-budget bunker in Treasury on Tuesday to confront another banking scandal, Mr Morrison sprayed the heads of some of Australia's largest companies, warning being a board member was "not a retirement job, it's a very serious job".

A report by the Australian Prudential Regulation Authority into CBA's culture released on Tuesday found the board of the bank had "inadequate oversight" of non-financial risks and a "culture of complacency" following a series of money laundering and terrorism financing scandals.

"It found there was a complacent culture, dismissive of regulators, an ineffective board that lacked zeal and failed to provide oversight, a lack of accountability and ownership of key risks by senior executives, a remuneration framework that had no bite and they were reactive, slow, and had under resourced systems and processes internally," Mr Morrison said.