Moody's: NZ banking system stable

Reuters with the latest from Moody's:

• NZ banking system stable despite dairy sector distress and higher household leverage

More:

• "Over the next 12-18 months, the banks' financial profiles will remain healthy on an absolute basis, and sound in relation to our expectations for their current ratings," says Daniel Yu, a Moody's Vice President and Senior Analyst.
• "And, while asset quality and profitability are likely to weaken, the deterioration will be from a very strong base," adds Yu.