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Clancy Yeates

Research Analyst at The Sydney Morning Herald

Clancy Yeates is the Deputy Business Editor at The Sydney Morning Herald, specializing in banking and financial services with a particular focus on Australia's finance sector, including banking, trading, investment strategies, and asset management. He has prominently covered major institutions such as Westpac Banking Corporation and the Commonwealth Bank of Australia, providing in-depth analysis of national economic trends and regulatory developments. Yeates has built his career at leading publications including The Sydney Morning Herald, The Age, and Brisbane Times, emerging as a recognized journalist within Australian business media since the early 2000s. While he is not a registered securities analyst and does not hold industry credentials like FINRA registration, his reporting is noted for its rigorous use of data and insights on finance and markets.

Clancy Yeates's questions to WESTPAC BANKING (WEBNF) leadership

Question · Q1 2021

Clancy Yeates from The Sydney Morning Herald asked for views on the financial stability risks associated with rising house prices and the potential for ultra-low interest rates to encourage riskier borrowing.

Answer

CEO Peter Francis King acknowledged the rising house prices, attributing them partly to low supply. He mitigated concerns about risky borrowing by highlighting that banks use a significant interest rate buffer (assessing serviceability around 5%) for all loan applications. He added that while regulators are monitoring the situation, a macroprudential response does not appear imminent.

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