Banking royal commissioner Kenneth Hayne has launched a rare attack on the political establishment, accusing it of being captured by vested interests, destroying public faith in institutions and reducing policy to three word slogans.

In his first public statement since handing down the findings of the financial services probe in February, Justice Hayne contrasted the independent and transparent nature of royal commissions against the "opaque" and "skewed" decisions of politicians influenced by those "powerful enough to lobby governments behind closed doors".

Justice Hayne said the need for royal commissions into the finance sector, aged care and disability services showed Australia's legislative, executive and judicial branches were not working as they should.

"The increasingly frequent calls for royal commissions in this country cannot, and should not, be dismissed as some passing fad or fashion," he said.