Clancy Yeates

Clancy Yeates

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

CBA boss Ian Narev says his worst moments were facing victims of financial advice scandal

James Eyers and Clancy Yeates CBA chief Ian Narev says facing customers who had been let down by the bank were among the worst moments of his career.

Mortgage costs tipped to rise as banks face higher costs under new APRA rules

Mortgage borrowers are likely wear the cost of new rules imposed on banks by regulators.

Clancy Yeates Big bank customers are likely to face higher borrowing costs due to new rule changes unveiled on Monday.

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Big four banks' fund-raising curbed by Greek debt crisis

The big four banks have raised the lowest amount from wholesale debt markets in several years.

Clancy Yeates Australia's big banks have raised the smallest amount from wholesale funding markets in several years so far in 2015, after the Greek debt crisis cast a shadow over global credit markets.

Home buyers' deposit hurdles getting higher

It's never taken longer to save a deposit for a Melbourne house, according to ANZ research.

Clancy Yeates The time it takes to save a deposit for a typical house in Australia's biggest cities is at or close to record levels, new figures show.

Why National Australia Bank's selling final stake in Great Western Bank

NAB's Andrew Thorburn this week said the bank had done most of the

Clancy Yeates National Australia Bank has indicated it will soon sell its final 28.5 per cent stake in US lender Great Western Bank.

Negative gearing: Momentum for rethink grows

Clancy Yeates.

Clancy Yeates Australia's near 1.3 million landlords claimed a combined $12 billion in tax breaks from loss-making investment properties in the latest year covered by official data.

Reserve Bank takes aim at negative gearing

Goldman now sees the potential for a property glut as population growth slows.

Clancy Yeates The Reserve Bank has backed a review of negative gearing as part of a broader discussion about tax, saying it and other policies may encourage debt-fuelled property speculation.

David Murray backs APRA on banks' capital

Clancy Yeates Financial system inquiry chair David Murray has backed the banking regulator's approach to making the industry more resilient to shocks, even though it fell short of supporting all his...

Westpac's sale of Vanuatu and Solomons banks scaled back

Westpac chief information officer Dave Curran said the bank is expecting big savings from a cloud computing push.

Clancy Yeates Westpac's plans to sell its banks in Vanuatu and the Solomon Islands have been put on hold after discussions with regulators in each country prevented deals from going ahead.

CBA, ANZ tipped to lead capital raisings

One leading analyst said Commonwealth Bank, the nation's largest, may raise capital at its annual profit result on August 12.

Clancy Yeates and James Eyers Analysts are predicting Commonwealth Bank of Australia and ANZ Banking Group will be forced to strengthen their balance sheets to avoid slipping behind rivals.

Crisis-proofing the banks: five key questions

The big banks helped lead a strong rebound on the ASX.

Clancy Yeates After all the pain big banks caused in the global financial crisis, making them safer is one of the top goals of regulators around the world.

APRA says bank capital will not be tied to international benchmarks

Wayne Byres from APRA ... A study released by APRA on Monday found the common equity tier 1 capital ratio of Australia's major banks is outside the top quartile of international peers, but above the median.

James Eyers and Clancy Yeates Australia's banks would need to raise around $28 billion of equity capital to become "unquestionably strong", but APRA says it does not intend to tie bank capital requirements to international...

Suncorp kicks for 'level playing field' as big banks pitch for owner-occupier mortgages

Suncorp says the need for pro-competition capital changes has become

Clancy Yeates Suncorp believes big banks are targeting smaller lenders' core owner-occupier customers, reinforcing the need for pro-competition reforms.

New mortgage lending falls 6.1pc as banks toughen policies

The number of home loan approvals for owner-occupiers fell to the lowest since August 2013.

Clancy Yeates New mortgage lending dropped more sharply than expected in May, as banks toughened their credit policies in response to fears the property market is overheating.

Why the banks' profit engines are spluttering

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James Eyers and Clancy Yeates The profit generating engine that is the Australian banking sector has been spluttering over the past few months.

China volatility a taste of 'transition risks', says Treasury's John Fraser

Clancy Yeates Treasury Secretary John Fraser says recent volatility on China's stockmarket is a taste of the "transition risks" created by the gradual opening up and development of the country's financial system.

Westpac caps LVRs on investor mortgages at 80pc

Westpac and the other major banks are taking action to curb investor lending.

Clancy Yeates Australia's biggest lender to landlords, Westpac, will require new property investors to have a deposit of at least 20 per cent.

NAB says market conditions support asset sales

Clancy Yeates National Australia Bank finance chief Craig Drummond says conditions on financial markets are supporting the bank's move to sell assets.

APRA calls out cloud-computing risks for banks

The Australian Prudential Regulation Authority has highlighted new risks from the shift to cloud computing.

Clancy Yeates The financial regulator has raised concerns about new risks being created as the industry makes greater use of cloud computing to cut costs and compete with technology-based rivals.

Commonwealth Bank removes deposit interest rate offers from May RBA cut

CBA has reversed a May decision to raise two deposit interest rates.

Clancy Yeates The Commonwealth Bank has reversed its May decision to raise two deposit account interest rates, a move it had said was influenced by consideration of savers.