The Australian share market is flat, with the big banks anchoring a tepid performance.

The banks were mixed, amid calls from the industry regulator for more capital against home loans, with ANZ the standout, surging ahead 1.13 per cent to $32.80.

Market heavyweight BHP Billiton was weighing on the market, sliding 1.18 percent to $26.78.

KEY FACTS

* At 1203 AEST, the benchmark S&P/ASX200 index was up 0.7 points, or 0.01 per cent, at 5,670.8 points.

* The broader All Ordinaries index was up one point, or 0.02 per cent, at 5,653.5 points.

* The September share price index futures contract was three points higher at 5,616 points, with 8,622 contracts traded.

* At 1224 AEST, national turnover was 855.4 million securities worth $1.4 billion.