SYDNEY, June 19 (Reuters) - Moody's on Monday downgraded 12 Australian banks, including the country's top four major lenders, reflecting elevated risks in the household sector.
Such risk was heightening the sensitivity of the banks' credit profiles to an adverse shock, according to the ratings agency.
The Australian government has taken steps in recent months to cool the red-hot property market amid concerns that speculation in housing could ultimately hurt consumers, banks and the economy. House prices in Sydney and Melbourne have more than doubled since 2009.
Moody's downgrades Australia's top banks over housing risk
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