Clancy Yeates

Clancy Yeates

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

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

atm / atms

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.

Loan curbs slow investor borrowing, Mortgage Choice says

Tighter lending conditions for investor borrowers might be starting to bite.

Clancy Yeates One of the country's biggest mortgage brokers, Mortgage Choice, says the clampdown on lending to landlords has dragged property investors' share of its loan approvals to a 20-month low.

ATM use on the decline

42 per cent of customers do not use an ATM in a typical week, new figures show.

Clancy Yeates More and more people do not use an ATM in a typical week, new figures show.

HSBC eyes Australian-Chinese growth as local lender competition heats up

HSBC executives said Australia was a priority market for the group, with the country's links to Asia being a key focus.

Clancy Yeates HSBC has singled out the booming trade and investment flows between Australia and China as a key priority.

Bank lending to property investors not slowing down

The big four banks remain the world's most profitable.

Clancy Yeates Housing investor credit growth expanded at a quicker pace than the banking regulator's 10 per cent-a-year cap in May.

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ANZ Bank Thai banking licence 'important milestone' for super regional strategy

ANZ wants to become a

Clancy Yeates ANZ Bank has been given the green light to offer a wider range of financial services in Thailand after it was granted a banking licence by the country's regulators.

Big four banks most profitable in developed world: BIS

The big four banks remain the world's most profitable.

Clancy Yeates Investors may have fallen out of love with Australian banks, but they remain among the most profitable lenders in the developed world.

High credit card rates used to claw back revenue

Clancy Yeates Banks have failed to pass on lower interest rates to credit card customers during the current cycle of rate cuts, in an attempt to claw back weaker interest and fee revenue from spendthrift consumers.