Rising interest rates have put some borrowers in trouble, but the RBA says the banks will be fine

Nearly 900,000 mortgages are coming off fixed rates this year onto much higher variable rates. (ABC News: John Gunn)

A significant group of borrowers are at serious risk of default, but Australian banks will be able to comfortably survive any losses, argues the Reserve Bank.

The RBA's latest Financial Stability Review (FSR) is under intense scrutiny, with banking failures overseas raising concerns globally, and rising interest rates continuing to put pressure on many households and businesses.