The federal parliamentary banking inquiry appears to set to hold one round of hearings this year, rather than two, as the Hayne royal commission into misconduct in finance takes centre stage.

The new chair of the house of representatives committee on economics, Sarah Henderson, on Tuesday announced that a round of public hearings scrutinising the four major banks would occur in eight months' time, in October.

The banking inquiry will hold public hearings after the royal commission's interim report. Credit:Bloomberg

Last year the committee set up by the Turnbull government held two rounds of hearings, in March and October, at which top bankers were quizzed on topics including mortgage interest rates, ATM fees, and the Commonwealth Bank's run of scandals.

The apparent move towards one round of hearings comes as the industry faces fierce scrutiny through a royal commission, which will next month hold hearings focused on home loans, car loans and credit cards.