Clancy Yeates

Clancy Yeates

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

National Australia Bank shareholders back Clydesdale spin-off

Clancy Yeates and Sally Rose National Australia Bank shareholders have voted emphatically in favour of plans to spin off its poorly-performing UK business, clearing the way for Clydesdale Bank to float next week.

Five things to know about NAB's Clydesdale spin-off

Clancy Yeates If all goes as expected, NAB shareholders will directly own soon a piece of its British business, Clydesdale Bank.

Banks get picky with mortgage deals, with lower interest rates for cashed-up owner-occupiers

Banks began charging housing investors higher interest rates in 2015 amid a regulatory crackdown.

Clancy Yeates Owner-occupiers with big deposits enjoy mortgage interest rates up to half a percentage point less than other types of borrowers in the home loan market, research shows.

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Banks get picky with mortgage deals, awarding cashed-up owner-occupiers

Clancy Yeates Owner-occupiers with big deposits enjoy mortgage interest rates up to half a percentage point less than other types of borrowers in the home loan market, research shows.

NAB closing the gap in business satisfaction

Clancy Yeates National Australia Bank is catching up to rivals in business customer satisfaction as it tries to rebuild share in the competitive market for company loans.

Oil shock not as scary as it looks

Cheap oil should be a short in the arm, but may sting a little as it takes effect.

Clancy Yeates Judging by the sharemarket response to the tumbling oil price, you might assume cheaper petrol was somehow a terrible thing for the world economy and Australian companies.

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FINANCIAL ADVICE

Financial advisers say new standards could push thousands to quit

Financial planners must have a degree or equivalent  by 2019 under draft federal  legislation.

Clancy Yeates Thousands of financial advisers might quit the industry if the government pushes ahead with plans to make advisers hold degree-equivalent qualifications in three years, an industry group says.

Barclays quits Australia, 80 jobs set to go

Barclays will quit the Australian market with about 80 staff set to lose their jobs.

Clancy Yeates, Sarah Thompson, Joyce Moullakis and Jonathan Shapiro Barclays has executed a rapid exit from the Australian market, as the investment bank seeks to cut costs by slashing jobs across the Asia-Pacific region.

Barclays pulls out of Australian market

Barclays will quit the Australian market with about 80 staff set to lose their jobs.

Clancy Yeates, Sarah Thompson, Joyce Moullakis and Jonathan Shapiro Barclays has executed a rapid exit from the Australian market, as the investment bank seeks to cut costs by slashing jobs across the Asia-Pacific region.

ASIC tightens screws on margin lenders

ASIC's review found several ways in which banks were allowing clients to take on excessive risks.

Clancy Yeates Banks have reined in their riskier margin lending after the corporate watchdog warned standards in the industry needed to improve.

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Banks' funding costs rise, tipped to hit profits

The Big Four raise about a third of their funding through wholesale borrowing.

Clancy Yeates As the banks' interest margins drop, customers may have to pick up the slack.

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Westpac pays $1m after raising credit card limits too easily: ASIC

Westpac failed to adequately inquire about the income and employment of customers seeking credit card limit increases.

Clancy Yeates ASIC says Westpac may have swayed from responsible lending laws by using automated processes to check customers applying for credit card limit increases.

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Banking on ethics is risky business

ANZ Bank is accused of having a toxic culture.

Clancy Yeates There are lots of words that come to mind when people think of big banks, but ethical probably isn't one of them.

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Australian banks to see weaker profit growth in 2016: Fitch

The tone from the Basel committee suggests banks may be spared more aggressive increases to capital levels.

Clancy Yeates The banks' bottom lines will feel the impact of more borrowers falling behind on their loans, credit agency Fitch Ratings says.

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NAB unveils pricing range to float British lender Clydesdale Bank

NAB is pushing ahead with plans to spin off Clydesdale Bank in an initial public offering early in February.

Clancy Yeates National Australia Bank plans to float its British lender Clydesdale Bank at between £1.75 and £2.35 a share, as it launches a marketing roadshow.

Maximum loan sizes slashed: how banks are cracking down on borrowers

Tougher credit rules have reduced the borrowing power of many customers significantly.

Clancy Yeates Banks have lopped tens of thousands of dollars off how much they are prepared to lend home buyers, new figures show.

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Banks exploit your personal data to stave off competitors

Technology stocks are turning away from raising funds on public markets.

Clancy Yeates Banks know more about their customers than ever, and they're keen to exploit this information for profit.

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Jetstar and Virgin may face class action over "drip pricing"

Jetstar and Virgin may face further legal action over their pricing tactics.

Clancy Yeates A Sydney law firm is investigating a potential class action against Virgin Australia and Jetstar over the airlines' pricing tactics, after a November ruling that the two carriers misled consumers...

Room for improvement on deposit rules, bank watchdog says

Clancy Yeates Banks have inconsistently applied a key aspect of new rules designed to make lenders more resilient during a bout of financial turmoil, the regulator says.

Mobile banking use jumps 26 per cent in a year: NAB

Mobile banking is helping customers avoid the embarrassment of being declined at the checkout, NAB says.

Clancy Yeates How mobile banking can prevent embarrassment at the checkout