Clancy Yeates

Clancy Yeates

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

$27 billion wiped off banks

James Eyers and Clancy Yeates The spectre of rising bad loans, flat dividends and additional equity raisings to satisfy nervous regulators saw investors wipe $27 billion off the value of the big four banks over the past two days.

ANZ Banking Group shares whacked after it completes $2.5b institutional raising

ANZ said there had been an increase in provisions for bad debts - which have been at historic lows thanks to the very low level of interest rates.

Clancy Yeates ANZ shares dropped the most in almost seven years when they resumed trading after unveiling a capital raising and weak profit result.

ANZ to raise $3 billion from shareholders to increase capital levels

Australia and New Zealand Banking Group has announced an institutional share placement to raise $2.5 billion and and a $500 million share purchase plan offer for retail investors.

Clancy Yeates ANZ Banking Group is raising $3 billion from shareholders to boost its capital levels in response to rules requiring banks to be more resilient to financial shocks.

CLSA's Brian Johnson warns Brisbane, Perth housing vulnerable to 'collapse'

House prices in the capitals of resource-rich Western Australia and Queensland look vulnerable, says CLSA analsyt Brian Johnson.

Clancy Yeates CLSA banking analyst Brian Johnson says Brisbane and Perth housing markets are vulnerable to "regional collapse" and CBA would be the most exposed lender to any WA house price correction.

Genworth calls for capital relief on mortgage insurance

Genworth chief executive Ellie Comerford says there could be

Clancy Yeates Genworth Mortgage Insurance is calling on regulators to give big lenders more incentive to pass home loan risk onto insurers.

Westpac pulls out of funding payday lenders

Westpac is pulling the plug on financing payday lenders.

Clancy Yeates and Shaun Drummond Westpac will no longer finance payday lenders, a move that will force companies including Cash Converters and Money3 to obtain some of their funding elsewhere.

Interest rate gap between investors and owner-occupiers to widen

Clancy Yeates Property investors should get used to paying increasingly higher interest rates compared with people paying off a loan on a house they live in, mortgage brokers and experts say.

Saving for a home deposit

Saving for a home deposit (Thumbnail)Click to play video

Clancy Yeates How first home buyers can save a deposit quicker to get into the property market.

Non-banks set to boom thanks to APRA crackdown on property investors

The Australian Securities and Investments Commission this week said several lenders had flaws in how they were assessing borrowers for credit.

Clancy Yeates and Shaun Drummond Non-bank lenders are bracing for a flood of loan applications from housing investors, as a regulatory clampdown forces banks to tighten the screws on landlord borrowers.

Housing investor credit growth revised up to 10.7 per cent

Housing investor credit growth accelerated to 10.7 per cent in the year to June.

Clancy Yeates The red-hot housing investor loan market is expanding even faster than thought, after billions in loans were reclassified as investor mortgages.

Flaw in credit lending standards to be revealed by ASIC

Greg Medcraft, chairman of ASIC, will soon release a report on banks lending assessment flaws.

Clancy Yeates and James Thomson An official review of lending standards in the red-hot investor property market is set to reveal flaws in how various lenders have been assessing customers for credit.

Commonwealth Bank app to target Westfield shoppers as they walk in the door

Westfield says retailers hope the app will dive shoppers into their stores.

Clancy Yeates Commonwealth Bank is ramping up efforts to promote the "digital wallet" with a new app tie-up with Westfield shopping centres.

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NAB Ventures created to invest $50m in fintech

Andrew Thorburn wants NAB's new venture capital fund to focus squarely on customers.

James Eyers and Clancy Yeates NAB's new innovation fund will invest in start-ups to enhance the bank's customer-centric products and applications.

AMP Bank stops lending to housing investors, jacks up rates

AMP will cease accepting or assessing new loans for property investors.

Clancy Yeates AMP Bank will stop writing new loans to property investors and is raising interest rates for landlord borrowers by 0.

Why the banks sting you on credit card rates

Clancy Yeates

Clancy Yeates There is a paradox in the $50 billion credit card market that has left some of our brightest economists scratching their heads.

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Interest rate computer glitch costs Westpac over $1m a day

James Eyers and Clancy Yeates Westpac Banking Corp's information technology systems have prevented it joining the other major banks to raise mortgage interest rates in response to growing regulatory pressures

Interest rate computer glitch costs Westpac more than $1m a day


James Eyers and Clancy Yeates Westpac Banking Corp's information technology systems have prevented it joining the other major banks to raise mortgage interest rates in response to growing regulatory pressures.

NAB raises rates on interest-only home loans

NAB says interest-only loans were the

Clancy Yeates National Australia Bank is raising interest rates on interest-only home loans, a move it says is aimed at slowing down housing investor credit growth.

More rate rises tipped after moves by ANZ and Commonwealth Bank of Australia

Analysts expect more mortgage rate rises.

Clancy Yeates ANZ and CBA maintain that the regulator's 10 per cent a year cap on housing investor credit growth is a key reason for their moves to raise rates for these customers by 0.27 percentage points.

CBA joins ANZ in raising investor interest rates by 0.27 percentage points

CBA has raised interest rates for housing investors by 0.27 percentage points.

Clancy Yeates The biggest bank in the country is jacking up interest rates for housing investors, as lenders act to rein in the boom in borrowing by landlord buyers.