Clancy Yeates

Clancy Yeates

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

Third of super funds 'vulnerable' to conflicts of interest: APRA

Clancy Yeates About a third of the 40 funds reviewed by the Australian Prudential Regulation Authority were found to have conflict of interest frameworks that were "weak" or "vulnerable."

CBA and Macquarie Group executives to front private parliamentary hearing

Commonwealth Bank executives will front the Senate in the coming days.

Clancy Yeates Commonwealth Bank and Macquarie Group executives will appear this week before a closed-door parliamentary hearing, where they are set to be quizzed on their dealings with the corporate regulator.

Commonwealth Bank executive Keith Hunter was on fast track at bank

Keith Hunter leaves Sydney Central Local Court on bail.

Clancy Yeates A former Commonwealth Bank executive charged with bribery offences had risen to a senior position at the country’s biggest bank, and had been tipped to climb even higher.

NAB may face more UK conduct charges, Deutsche Bank says

NAB CEO Andrew Thorburn has given a strong signal he intends to sell Clydesdale.

Clancy Yeates Parliamentary criticism of NAB's UK arm has raised the risk it may face higher costs from compensating victims of misselling, which could affect float plans.

NAB promises better process to catch bad planners

NAB CEO Andrew Thorburn

Clancy Yeates National Australia Bank chief Andrew Thorburn has conceded there is a need for better processes to detect bad financial advice and inform customers who may be affected, after recent revelations of...

Numbers add up for constraints on bank loans for residential property investors

With new mortgage lending already facing tough regulatory scrutiny, which is tipped to slow revenue growth, brokers are highlighting the potential for banks to face further constraints in the lucrative home loan business.

Clancy Yeates and Shaun Drummond Brokers are highlighting the potential for banks to face further constraints in the lucrative home loan business.

NAB's UK arm Clydesdale Bank under fresh fire over 'tailored business loans'

Costs from providing customer redress have been a persistent drag on profits from NAB's Scottish-based Clydesdale Bank in recent years.

Clancy Yeates National Australia Bank's United Kingdom arm faces fresh criticism over the mis-selling of complex interest rate hedging products.

Online classifieds giant takes $10 million equity stake in P2P lender RateSetter

Carsales and its majority-owned Stratton Finance have taken a $10 million stake in peer-to-peer lender RateSetter.

Clancy Yeates Online classifieds giant and its majority-owned Stratton Finance are taking a $10 million equity stake in peer-to-peer RateSetter, in an effort to expand the "disruptive" form of lending...

CBA questions staying power of disruptive peer-to-peer lenders if interest rates increase

Disruptor: SocietyOne chief executive Mike Symons is taking on the banks.

Clancy Yeates One of the Commonwealth Bank's top executives has questioned whether the emerging peer-to-peer lending sector will be able to survive if interest rates climb.

Privatisation should not mean paying highest price

Clancy Yeates dinkus Dinkus

Clancy Yeates Even supporters of privatisation are concerned about the incentives being offered to states for asset sales

Goldman Sachs cuts banks


Clancy Yeates Goldman Sachs says the lenders look vulnerable to a weakening economy and tougher industry regulations.

Stress test: RBA finds banks would survive if households hit the rocks

The skyrocketing housing market is causing concern.

Clancy Yeates Paper concludes that even if house prices plunged by a quarter, bank losses would only be "limited".

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Banks brace for investor loan hurdles after RBNZ move

Australian regulators may follow the RBNZ.

Jonathan Shapiro and Clancy Yeates Australia's banks are bracing for higher capital requirements on investor loans after New Zealand aired tougher than expected restrictions to deal with property market risks.

Women executives stuck in the minority in top 2000 Australian companies

photo MIchele MOssop
MOn 5th Sept 2011
Business women woman returning to the workforce due to GFC and economic necessity
generic work superannuation pension employment income

Timna Jacks and Clancy Yeates The number of senior positions in Australia's top 2000 companies has risen by 20 per cent in the past five years. But less than a fifth of those roles belong to women.

Home loan caps won't stop house price growth: RBA's Philip Lowe

generic thumbnail, house prices up, real estate, property

Clancy Yeates and Jonathan Shapiro Imposing tougher lending rules on banks may slow but will not halt house price growth, the Reserve Bank’s deputy governor Philip Lowe says.

Home loans surge after February rate cut, AFG says

Last Wednesday, AFG had its biggest day ever, with brokers writing $280 million worth of business as the property market continues to boom.

Clancy Yeates The country's biggest mortgage broker has reported a 16 per cent surge in the value of home loans it processed last month, confirming last month's surprise cut in interest rates has further fired up...

Regulators examine explosive claims banks are using illegal super switch bait

Financial Services Minister Josh Frydenberg reiterated that offering inducements to win super business was illegal.

Clancy Yeates Financial regulators are investigating explosive claims banks are offering incentives to employers if they switch their staff default superannuation funds to the big banks' retail funds.

CBA beefs up marketing with Vittoria Shortt promotion

CBA chief Ian Narev

Clancy Yeates The Commonwealth Bank has promoted marketing chief Vittoria Shortt to the role of group executive and expanded her role to also take in strategy.

NAB scandal reveals shortcomings with breach reporting

Revelations of misconduct at NAB have exposed gaps in the 'breach reporting' system.

Clancy Yeates Revelations of misconduct in National Australia Bank's financial advice arm have exposed significant gaps in the "breach reporting" system requiring banks to notify the corporate regulator of...

Time for debate on superannuation tax, says Treasury Secretary John Fraser

Secretary of Treasury John Fraser during a Senate hearing at Parliament House in Canberra on Wednesday 25 February 2015. Photo: Alex Ellinghausen

Clancy Yeates Generous tax breaks for superannuation and "middle-class welfare" must be debated as part of the government's attempt to fix deep-seated budget problems, new Treasury Secretary John Fraser says.