Clancy Yeates

Clancy Yeates

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


ANZ joins fixed-rate mortgage fight

Clancy Yeates Banks continue to cut fixed-rate mortgages as they fight to win new customers, with ANZ and Westpac the latest to reduce key interest rates below 5 per cent.


Banks should act like start-ups: Westpac

Brian Hartzer, Chief Executive of the Westpac Banking Corporation speaks at a CEDA panel discussion on financial services industry transformation.

Clancy Yeates Senior Westpac banker Brian Hartzer says banks should try to act like start-up companies if they are to thrive in an era of sweeping technological change.


Mortgage war erupts as Commonwealth Bank, NAB, Westpac cut fixed rates

Home loans

Clancy Yeates Three of the country's largest banks have slashed their fixed mortgage rates, fighting to win new customers by allowing borrowers to lock in longer-term interest rates of less than 5 per cent.


CommBank slashes fixed rate

It is the first time the Commonwealth Bank has dropped its five-year fixed rate below 5 per cent.

Clancy Yeates The Commonwealth Bank has slashed its five-year fixed mortgage rate to a new record low for the lender, a sign competition in the mortgage market remains intense.

Banks push back on mortgage guidelines

banking logos

Clancy Yeates Big banks are resisting the Australian Prudential Regulation Authority's move to introduce detailed new mortgage lending guidelines, saying the regulator's proposals are too prescriptive in telling...


Banks' role in real estate's foreign investors questioned


Clancy Yeates Australian banks' role in helping to fund foreign investment in real estate is coming under scrutiny, as politicians investigate overseas buyers' activity in the housing market.


Banking regulator gets tough on home loans

APRA logo.

Clancy Yeates The financial regulator takes its housing market concerns to the boardrooms of the big four.

APRA regulator's push for big banks to set aside more capital

Real Estate.

Clancy Yeates A senior regulator has floated changes to narrow the gap between how much capital major banks and the rest must set aside against home loans, a key complaint of smaller banks.


Don't give us more rules, warns ANZ's Mike Smith

No more: Rule changes to banks are already impacting growth in some countries, argues the ANZ boss.

Clancy Yeates ANZ Bank chief Mike Smith has warned against imposing more rules to make the financial system safer, putting one of the country's biggest banks on a collision course with the government's financial...


Banks dividend bonanza could end after Murray report

The financial system inquiry led by David Murray has floated policies that include forcing banks to hold larger capital buffers.

Clancy Yeates The strong growth in big bank dividends could be threatened by David Murray's intention to make Australia's largest lenders more resilient in the face of future financial crises.

Report makes push for drastic changes

David Murray

Peter Martin, Clancy Yeates The financial system inquiry has proposed a revolution in Australia's superannuation system that would vanquish high fees and force people to take more super as income rather than lump sums.

Super system could face revolutionary changes

David Murray.

Peter Martin and Clancy Yeates The Financial System Inquiry has proposed a revolution in Australia's superannuation system that would banish high fees and force Australians to take more super as income rather than lump sums.


Big banks may face more mortgage competition

Smaller lenders should be able to better compete with the big banks for mortgages.

Clancy Yeates Australia’s big banks could face greater competition from smaller lenders in the $1.3 trillion mortgage market under proposals floated by the government’s financial system inquiry.


Murray financial system inquiry: Action required on high superannuation fees

Financial system inquiry chair David Murray

Clancy Yeates and James Eyers The federal government's financial system inquiry is considering major changes to the $1.8 trillion superannuation sector to cut the high fees paid by Australians and stop them taking on too much...


Murray financial system inquiry: What it means for you

The Murray inquiry was the first major inquiry into Australia's financial system in 17 years.

Clancy Yeates The first government review into the financial system in almost two decades published an interim report on Tuesday. Here are the ways it will affect you.

Funds management

Fees pressure expected if financial review implemented


Clancy Yeates The funds management industry would face unprecedented pressure to slash fees if the government acts on proposals being considered by its review into the financial system.

Fear is FoFA will overshadow report on financial system

david murray

Clancy Yeates Australia's banks fear the release of the financial system inquiry's interim report on Tuesday will be overshadowed by Parliament's focus on the government's Future of Financial Advice (FoFA) reforms...

Andrew Thorburn, NAB's new straight shooter with a messianic touch

andrew thorburn

Clancy Yeates AS chief executive of Bank of New Zealand in 2012, Andrew Thorburn did something highly unusual for a bank boss.


John Brogden quits fund managers' lobby group

John Brogden leaves the Financial Services Council after five years to head the Australian Institute of Company Directors.

Clancy Yeates John Brogden will step down as chief executive of the Financial Services Council at the end of this year, after five years leading the wealth management lobby group.


S&P says CBA's financial planning scandal unlikely to affect credit rating

The ratings agency doesn't expect the compensation to affected customers to be large enough to affect the bank's credit profile.

Clancy Yeates The Commonwealth Bank's credit rating is unaffected by the customer compensation scheme the bank has opened after a damning Senate inquiry into its financial planning arm, Standard & Poor's says.