May 10 (Reuters) -
* Australia budget negative for banks but impact manageable
* Australia's budget contains measures that may negatively affect bank credit profiles, but not significantly enough to have an immediate ratings impact
* Proposals to allow regulators to better target housing market risks are likely to support banking system stability
* Creation of single dispute resolution authority, measure to increase executive accountability less likely to have direct effect on bank credit profiles
* Measures to increase competition may have greater effect on the major banks' credit profiles in the longer-term in Australia
* Levy on large banks in Australia would have the most immediate financial impact
* Bank levy in Australia could intensify competition for retail deposits by raising the cost of wholesale funding Source text for Eikon: ID:nFIT998955