Clancy Yeates

Clancy Yeates

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

Bank lending lacked 'common sense', says APRA

Clancy Yeates The banking regulator has taken a fresh swipe at banks' mortgage lending standards.

Consumer groups back mortgage broker pay review

As well as dominating home lending, the big banks own or have a major stake in 40 per cent of mortgage brokers.

Clancy Yeates The government this week said the Australian Securities and Investments Commission would investigate the remuneration of mortgage brokers, which wrote more than half of all new home loans.

ANZ chief pans 'fairytale' bank safeguard theories from 'overdramatic' analysts

ANZ chief executive Mike Smith says some analyst predictions of future bank capital raisings are overly dramatic.

Clancy Yeates ANZ Bank chief executive Mike Smith has dismissed claims banks will have to raise many billions of dollars more in capital as "fairytales".

Government backs APRA action on banks

The government confirmed APRA would take further steps to make sure bank capital was

Clancy Yeates The banking regulator has been given until the end of next year to ensure Australian banks hold enough capital to withstand financial shocks.

What the financial system overhaul means for you

The Commission will look into alternative models for how the savings of people who do not actively choose their super fund are allocated to a fund.

Clancy Yeates It is being trumpeted as the biggest overhaul to our financial system since 1997 - but how will it affect you?

Bank customers tipped to fix their mortgages as interest rates fall

Clancy Yeates Fixed rates appear relatively more attractive than variable ones as borrowers anticipate other banks will follow Westpac rate hike.

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Customers tipped to fix their mortgages

'There are over 10 lenders in the market offering variable rates under 4 per cent, so with rates now starting at 4.78 per cent for owner occupiers, Westpac is starting to look like a pretty expensive option,' RateCity financial analyst Peter Arnold said.

Clancy Yeates Interest rates for fixed two and three-year home loans are near record lows, and some smaller lenders continue to cut these rates to compete.

Westpac shares climb after capital raising, rate increase

Westpac chief executive Brian Hartzer. The bank is seeking to pass on its cost of holding more capital to customers, as well as investors.

Clancy Yeates The sharemarket has backed Westpac's move to raise $3.5 billion in capital and lift interest rates for home loan customers, and experts believe this could give other banks further encouragement to...

Westpac shares climb after capital raising, rate increase

Westpac chief executive Brian Hartzer Westpac is seeking to pass on the bank's cost of holding more capital to customers, as well as investors.

Clancy Yeates Westpac shares have emerged from a trading halt 1.8 per cent higher than their price before the bank last week launched a capital raising, increased interest rates, and delivered its full-year...

RBA says housing market may be slowing

There are 19,048 properties advertised for sale in Perth, according to CoreLogic RP Data, and 20,955 in Sydney.

Clancy Yeates Edgy home buyers and a crackdown on bank lending to property investors appear to have drained momentum from Sydney's housing boom, the Reserve Bank says.

How supermarkets and telcos are teaching banks about customer service

FAIRFAX MEDIA BUSINESS
Generic photos of Woolworths supermarket at Double Bay. 27th August 2015
Photo Dallas Kilponen

Clancy Yeates How avocados and bananas are showing the way for the big four.

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Big banks defend card profits, but vie for most virtuous

CBA has called for mandatory minimum credit card repayments and ban on 0% balance transfers.

Shaun Drummond and Clancy Yeates The major banks have rushed to out-do each other on reforms to their own credit card products to protect poor customers in a surprise development from a Senate inquiry looking at whether banks earn...

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Big four banks would make an extra $1.25 billion by copying Westpac

All eyes are on the remaining three of the big four banks after Westpac opted to raise rates.

Clancy Yeates The major banks stand to make an extra $1.25 billion in combined profits if the industry follows Westpac in jacking up mortgage interest rates by 0.

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Westpac jacks up interest rates for owner-occupiers and investors

Commentators say Westpac's decision to raise rates may take further steam out of the housing market.

Clancy Yeates Australia's second biggest bank is hiking interest rates for owner-occupiers and investors for the first time in more than three years, a move other banks are predicted to copy, taking more heat out...

Five reasons Westpac's interest rate rise matters

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Clancy Yeates Westpac's decision to jack up variable mortgage interest rates is more significant than it may appear.

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Westpac raises home loan rates

SYDNEY, AUSTRALIA - MAY 05:  Pedestrians walk past bank branches in the central business district on May 5, 2015 in Sydney, Australia. Forecasters are predicting the Reserve Bank of Australia will cut interest rates for the second time this year in its upcoming May meeting. The cuts would come amidst fear of stoking the rising prices of housing in Australia.  (Photo by Mark Metcalfe/Getty Images)

Clancy Yeates Westpac is jacking up all of its variable home loan interest rates by 0.2 percentage points, a move it has blamed on rules forcing it to hold more capital.

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ANZ to target wider range of Chinese customers

ANZ Bank will seek to broaden its institutional customer base in China.

Clancy Yeates ANZ Bank will target a broader range of business customers in China beyond lowest-risk clients such as top state-owned business and large multinationals, as part of its long-term plan to profit from...

Online banking customers are the happiest, new figures show

Smart phones are driving growth in online banking.

Clancy Yeates Customers who deal with banks digitally are more satisfied than those who visit branches or use phone banking.

Banks shy away from wholesale debt markets, reflecting weaker demand for credit

The big banks are raising less money from big investors after a rise in wholesale funding costs.

Clancy Yeates Banks are raising less money from domestic and international investors, as market volatility pushes up wholesale funding costs.

Average Victorian home loan jumps $61,700 in a year

The average new loan for an owner-occupier in the state has increased nearly 22 per cent.

Clancy Yeates Home buyers are piling on debt, with new figures showing the average new mortgage is growing even faster than the turbocharged property market.