ECB's Nuoy: Quality of bank assets continues to be a challenge

In her introductory statement at hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, ECB Board member Daniele Nouy said that the quality of bank assets continues to be a challenge.

Key quotes (via Reuters):

• A number of banks still need to take swift & decisive action to improve asset quality
• ECB ensuring euro-area banks have Brexit contingency plans
• Working to eliminate supervisory arbitrage in Brexit
• Making sure banks are prepared for a hard Brexit