SYDNEY, Feb 1 (Reuters) - Ratings agency Moody's Investors Service said on Monday it expects credit costs to increase "moderately" for Australian banks as a deep downturn in the resources sector aggravates macroeconomic risks.
Moody's said regions and sectors most exposed to mining are starting to see some signs of stress and while Australian banks' direct exposure to the resources sector was relatively low, they faced "high second-order risks".
Australia's super profitable major banks currently have very low levels of stressed loans in their portfolio. They came out of the global financial crisis relatively unscathed but now face higher regulatory capital and a slowdown in the broader economy.
News: WBC Moody's sees higher costs for Australian banks on mining downturn
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