Clancy Yeates

Clancy Yeates

Clancy Yeates reports on banking and finance and is a former Canberra business correspondent.

Banks put brakes on investor lending

Clancy Yeates and James Eyers Banks are taking immediate steps to slow the rapid growth in lending to property investors, in response to action by regulators to prevent the housing market from overheating.

Bruce Billson backs tougher rules for small-business credit contracts

Bruce Billson says there remains room for improvement to give the small-business sector better access to funding.

Clancy Yeates Small Business Minister Bruce Billson is pushing ahead to extend unfair contract laws to cover small-business customers, despite bank threats the move will push up borrowing costs.

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Banks lock savers into long-term accounts with 'bonus' interest rates

Interest rates on savings were this month cut by more than those on home loans.

Clancy Yeates Banks are trying to woo savers by offering better rates on some longer-term loans.

Owner-occupiers may get cheaper loans than investors due to APRA cap

NAB's Anthony Waldron says the bank has 'a higher appetite' for owner-occupied lending.

Clancy Yeates and Mark Mulligan New lending rules could mean bigger interest rate discounts for borrowers who live in the home they are borrowing against.

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CBA tips small-business tax breaks to lift borrowing

Commonwealth Bank is tipping a bounce in small-business borrowing in response to the budget.

Clancy Yeates Banks are eyeing a cut from the government's $5.5 billion in tax perks for small-business owners.

Home loan size surges as buyers pile on debt

High rise: The average new loan for a first home buyer is $362,000.

Clancy Yeates First home buyers in NSW are loading up on nearly 25 per cent more debt than they were when the Reserve Bank began cutting official interest rates, as buyers scramble to get a foot in the door.

Australian banks exposed to rising house price 'correction' risk: Moody's

Moody's analysts:

Clancy Yeates Australian banks face challenges from the rising likelihood of a long-term "correction" in the housing market, credit ratings agency Moody's has warned.

Banks have little to lose from raising capital early, says APRA chairman Wayne Byres

APRA chairman Wayne Byres:

Clancy Yeates Australian Prudential Regulation Authority chairman Wayne Byres has backed banks acting early to raise their capital levels, and warned that he expects credit growth in the red-hot investor housing...

Federal Budget 2015: Retailers to reap the benefits from Budget's tax break for small businesses

Open all hours? Changes to retail trading hours are among proposals in a landmark competition review.

Mathew Dunckley and Clancy Yeates Retailers are set for a sales rush in the wake of a generous tax break for small businesses that will encourage spending on everything from office supplies and computers to fencing and cars.

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Federal budget 2015: ASIC register privatisation edges forward

The ASIC's registry business is closer than ever before to privatisation.

Clancy Yeates Joe Hockey has brought the Australian Securities and Investments Commission's registry business a step closer to privatisation after last year's budget flagged it as an asset that could be put on the...

Federal budget 2015: FIFO workers lose tax break

Falling commodity prices have hurt Australia's budget.

Clancy Yeates Fly-in fly-out workers are set to lose access to a tax break for living in remote areas, a change that will save the budget $325 million.

Federal budget 2015: Backpackers hit with higher taxes

Under current rules, people on working holidays pay no tax on income received up to about $20,000.

Clancy Yeates Backpackers and others on working holidays will be stung with higher income tax bills as a result of tougher new rules.

ANZ and Westpac among banks to back ethics training for financial advisers

Assistant Treasurer Josh Frydenberg has flagged

Clancy Yeates ANZ and Westpac-owned BT Financial Group have supported proposals for advisers to be educated in ethical conduct, as well as changes to how professional standards are set.

Competition, rising costs, regulation: why Australian banks are finding it tough

budget winners

Clancy Yeates Banks' performance in recent times has made them seem almost bullet-proof, but this week they took a bullet.

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NAB seeks $5.5bn to fund exit from Clydesdale and Yorkshire

NAB chief executive Andrew Thorburn says spinning off Clydesdale will give investors greater certainty about UK conduct risk.

Clancy Yeates National Australia Bank chief Andrew Thorburn is asking shareholders to tip in a record $5.5 billion to fund an ambitious plan to sever the bank's troubled ties to Britain and dramatically boost its...

NAB profit hits $3.3b, Clydesdale Bank demerger and $5.5b rights issue announced

Analysts say the banks are keeping some of the Reserve Bank's rate cut so they can continue to discount headline rates as profits suffer

James Eyers and Clancy Yeates National Australia Bank will raise around $5.5 billion in a rights issue and demerge its UK bank, Clydesdale.

ANZ eyes asset sales to boost shareholder returns

ANZ chief executive Mike Smith has flagged a

Clancy Yeates ANZ Bank has flagged its intention to sell assets, including some of its minority stakes in a clutch of Asian banks, as it vows to boost shareholder returns and meet tougher demands from regulators

CBA leads bank share price correction

Correction territory: big bank shares have fallen heavily in recent weeks.

Clancy Yeates Shares in the major banks have plunged deeper into correction territory after a weak trading update from the Commonwealth Bank revealed rising costs, narrowing profit margins and increasing loan...

CBA third-quarter earnings flat at $2.2 billion

The CBA said that expense growth had increased in the quarter because of higher regulatory and compliance costs, including costs associated with its financial advice review.

Clancy Yeates The Commonwealth Bank's March quarter profits came in at about $2.2 billion, unchanged from the same period last year, amid higher expense growth and pressure on its profit margins.

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CBA fails to pass on full rate cut to borrowers

CBA hasn't passed on the full RBA rate to borrowers but rewarded savers instead.

Clancy Yeates The Commonwealth Bank is only passing on part of Tuesday's cut in official rates to borrowers, but has taken the unusual step of raising some deposit interest rates.

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