Clancy Yeates

Clancy Yeates

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

Banks say $11 billion tax bill is evidence they are 'paying their way'

Clancy Yeates Banks say they pay more than one-third of the tax paid by ASX 200 companies.

RBA sounds alarm about bursting of housing bubble inflated by cheap credit

Clancy Yeates The Reserve Bank has issued a fresh warning about the rising risk of a significant fall in house prices if "speculative demand" fuelled by cheap credit continues to drive the property market.

Reserve Bank reminds public buying property is not a one-way bet

Clancy Yeates dinkus Dinkus

Clancy Yeates The Reserve Bank's latest salvo on house prices is another reminder that the country's top economic minds are nervous about the risks building in pockets of the property market.

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Reserve Bank sounds warning on house prices

The number of houses first home owners can purchase has shrunk.

Clancy Yeates The Reserve Bank has warned there is a rising risk of a significant fall in house prices if "speculative demand" fuelled by record low interest rates continues to push up prices.

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David Murray says debt politics makes Australia's AAA credit rating 'vulnerable'

David Murray, APRA's Helen Rowell, ASIC's  Greg Medcraft and Kevin Davis on Tuesday.

James Eyers, Clancy Yeates and Jonathan Shapiro The politicisation of the federal debt position poses a threat to the nation's AAA credit rating, David Murray says.

ANZ's Mike Smith warns market not properly pricing risk

ANZ

Clancy Yeates Technological change is opening up new forms of competition but also potentially adding new risks.

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ASIC's Greg Medcraft says foreign exchange brokers are 'picking off' Australia

Australia's trading leverage of up to 500 times has become a magnet for offshore brokers.

Clancy Yeates and Jonathan Shapiro Australia is being "picked off" by online foreign exchange brokers that are able to offer clients extremely high leverage, ASIC says.

Capital adequacy critical for bank investors

Wayne Byres said fierce competition in home lending would make it

Clancy Yeates The banking regulator has raised doubts over banks' ability to pass on the costs of higher capital requirements to consumers, a key threat lenders have made in recent policy debates.

ASIC chief Greg Medcraft highlights 'mischief' and 'abuse' in reporting of misconduct

ASIC chair Greg Medcraft said the regulator had gathered

Clancy Yeates There is widespread "mischief" and even "abuse" in how financial services firms treat a key system for detecting misconduct, ASIC says.

Doubts raised about CBA's tech buying standards following bribery scandal

CBA is trading just a whisker of its 12-month high of $93.27 that it hit in early February.

Paul Smith and Clancy Yeates Corporate technology and governance experts say apparent bribery within the Commonwealth Bank's IT department raises questions for investors about the oversight of decision-making.

David Murray's financial system inquiry could boost big banks' capitalisation, says S&P

An S&P report said two key recommendations of the financial system inquiry would be positive for banks' credit profiles.

Clancy Yeates Global credit rating agency Standard & Poor's says the major banks' financial position would be strengthened by David Murray's plan to require their mortgage books to be better capitalised.

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

APRA's review into conflicts of interest in super was launched last year.

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 Carsales.com 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 Carsales.com 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.