Euro zone banks still need to take swift action on bad debts: ECB


FRANKFURT, June 19 (Reuters) - Euro zone banks are making
progress in reducing their pile of bad debt, but further swift
and decisive action is still needed, European Central Bank
supervisor Daniele Nouy told the European Parliament's economic
affairs committee on Monday.
    "The quality of banks' assets continues to be a serious
challenge in the banking union as a whole, but the problem is
also concentrated in certain countries," Nouy said.
    "In recent months we have seen a number of banks starting to
address their asset-quality issues much more actively," Nouy
said. "Our efforts in this area will continue."

 (Reporting by Balazs Koranyi, editing by Larry King)
 ((Balazs.Koranyi@thomsonreuters.com; +49 69 7565 1244; Reuters
Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))


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