Clancy Yeates

Clancy Yeates

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

Fixed mortgage rates expected to stay at historic lows

Clancy Yeates Fixed mortgage rates look set to stay at historic lows for at least the next few months, as banks try to pinch each other's customers and investors bet the Reserve Bank will leave official rates on...

Economy

Fixed-rate mortgages gather momentum as official rates set to stay on hold

House and cash.

Clancy Yeates Fixed mortgage rates look set to stay at historic lows for at least the next few months.

Funding

Covered bonds soar as big banks look overseas for funds

NAB signs

Clancy Yeates Australian banks are increasingly turning to overseas investors to raise low-cost funding through covered bonds, as lenders look to exploit benign conditions on global credit markets.

Banking

Parliamentary inquiry set to question APRA aggression

APRA.

Clancy Yeates The Australian Prudential Regulation Authority faces renewed questions over whether it is moving too aggressively in implementing global capital rules, as part of a new inquiry focusing on the...

Superannuation

Super funds on track for another bumper year

Clancy Yeates Superannuation funds are on track to deliver returns of more than 10 per cent for the second financial year in a row, as retirement savings are propelled higher by a global surge in shares.

Banking

Scottish secession vote is NAB's great unknown

Clancy Yeates Just as NAB's British business is starting to stage signs of recovery, shareholders face another source of uncertainty: a Scottish independence vote.

Borrowers' lack of mortgage buffer could spell trouble

Aussies aren't as far ahead on their mortgages as is commonly believed.

Clancy Yeates Australians aren't as far ahead on their mortgages as is commonly believed, meaning one safety buffer the RBA says will protect home owners against an economic downturn is smaller than many think.

Finance

Mortgage safety buffer 'surprisingly low'

Mortgage loan agreement

Clancy Yeates One of the safety buffers the RBA says will protect homeowners against an economic downturn is smaller than many think.

Housing

RBA sends warning to first home buyers

Housing

Clancy Yeates A senior Reserve Bank official has warned first home buyers against taking on too much debt in order to buy property, saying the squeeze on this part of the market is probably temporary or ''cyclical.

Banking

ANZ poaches Farhan Faruqui for key international job

ANZ/.

Clancy Yeates ANZ Bank has poached senior Citi banker Farhan Faruqui for the newly-created job of chief executive of international banking

Housing

Joe Hockey cans Labor's home deposit saving scheme

house for sale

Clancy Yeates First home buyers will no longer receive taxpayer support when saving a deposit as part of the government's drive for budget savings.

Deficit

Still 'much more work' to cut deficit, says Joe Hockey

Joe Hockey

Clancy Yeates Treasurer Joe Hockey is promising to shrink the budget deficit by slashing tens of billions from future spending, with the deepest cuts to take effect in two to three years.

Banking

CBA, Westpac call for financial planning roll backs

GENERIC commonwealth bank, banker, interest rates, big four, four pillars, pedestrians, customers.
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CBA AFR 090827 MELB 

PIC BY JESSICA SHAPIRO...

Clancy Yeates Australia's two biggest banks are ­urging the government to push ahead with its controversial plan to roll back part of Labor's financial advice reforms, claiming the current rules will make advice...

Banking

St George Bank chief says multi-brand approach within Westpac is paying off

Clancy Yeates When Westpac bought St George Bank in 2008 it vowed to preserve the identity of the smaller lender, which had its roots as a building society in Sydney's southern suburbs.

Banking

NAB boss Cameron Clyne: Australia in 'confidence' trap

08/05/14 AFR. Cameron Clyne CEO of NAB at their half-year results in Sydney. Photos Chris Pearce

Clancy Yeates National Australia Bank boss Cameron Clyne, in his final profit result as chief executive on Thursday, sounded a cautious note on the economic outlook, saying there needed to be a circuit-breaker to...

Banking

Australia caught in 'confidence trap': NAB

nab

Clancy Yeates NAB boss says weak confidence threatens to derail progress in the transition from an economy driven by resources investment.

Banking

Wealth unit changes tipped to hit three of big four banks

Big four

Clancy Yeates New rules phasing out capital benefits received by ANZ, National Australia Bank and Commonwealth Bank from debt held on the balance sheets of their wealth subsidiaries are likely to dampen long-term...

Banking

New APRA rules 'to squeeze banks' returns'

Clancy Yeates New rules phasing out billions of dollars in capital benefits received by ANZ, National Australia Bank and Commonwealth Bank are likely to dampen long-term returns from the lenders, analysts say.

Westpac upbeat on $3.8b profit

Clancy Yeates Westpac chief executive Gail Kelly has sought to dampen concerns over an industry-wide decline in lending standards, citing further falls in bad loans and saying households continued to aggressively...

Banking

Westpac upbeat on $3.8b profit

AFR.  Pic of Gail Kelly at Westpac AGM at the Westpac building in Sydney.  Pic by Nic Walker.  Date 5th November 2012.

Clancy Yeates Westpac chief executive Gail Kelly has sought to dampen concerns over an industry-wide decline in lending standards, citing further falls in bad loans and saying households continued to aggressively...