ECB may take tough stance on banks sitting on soured debt: Report

FRANKFURT (Reuters) – The European Central Bank plans to rigorously review how euro zone banks are progressing in cutting their stock of non-performing loans and may take action against lenders not moving fast enough, ECB bank supervisor Ignazio Angeloni told a German newspaper.

“In many cases, we will hopefully be able to say that the plans are in order. But in some cases, we will have to tell banks that they need to be more ambitious about the issue,” Angeloni told German newspaper said Handelsblatt.

(Reporting by Balazs Koranyi; Editing by Tom Sims)