Praet - ECB can delay start of supervision if needs time
FRANKFURT Oct 21 (Reuters) - The European Central Bank could delay starting its supervision of the euro zone's 130 largest banks if it feels it needs more time to prepare, ECB Executive Board member Peter Praet was quoted as saying on Monday.
"In an emergency, we can stretch the timetable (of assuming duties in November 2014)," Praet told German financial daily Boersen-Zeitung in an interview, but he added the central bank would not do so unless it absolutely needed more time.
Praet also urged euro zone finance ministers to come out with "strong and clear commitments" regarding safety nets for banks to plug capital holes after the ECB's asset-quality review and subsequent bank stress tests.
"The commitment must come well before November 2014. I am confident that one will be made soon," he told the paper.
(Reporting by Sakari Suoninen; Editing by Paul Carrel)