UPDATE 1-Steinbrueck to present plan on bad banks -report

(Adds reaction in pars 10-13)

By Erik Kirschbaum

BERLIN, April 12 (Reuters) - Finance Minister Peer Steinbrueck said in an interview published on Sunday that he has devised a master plan to help struggling German banks but said he still opposed creating a single "bad bank" for problem loans.

"My analysis and my proposal are both finished; the chancellor has been informed about both," Steinbrueck told the Frankfurter Allgemeine Sonntagszeitung.

"After the Easter break the government will discuss internally how we'll handle the problematic assets."

Steinbrueck, who previously said there would be no bad bank scheme before September's federal election, told the newspaper that he still remained opposed to a single bad bank.

"I definitely reject a central bad bank so nothing's changed," he said. "The respective banks and their shareholders will have to take on the highest possible degree of responsibility for their own toxic assets."

Creating a bad bank would be the most radical move taken by a big economy to try to overcome the global financial crisis, which began when a collapse in property prices snowballed into a lending freeze.

Under a bad bank scheme, banks would hive off problem loans into separate vehicles, which would be centrally managed under an umbrella of state guarantees to stop further falls in value until the crisis passes.