European Union finance ministers are unlikely to reach a deal on bank oversight on Tuesday and are set to meet for further negotiations on December 12, EU officials told Reuters.

"There's not going to be a deal today. They'll meet again on December 12 ahead of the summit," one source said, speaking on the condition of anonymity and referring to the EU leaders summit in Brussels on December 13-14.

That was echoed by two more sources close to the talks.

Ministers were meeting in Brussels on Tuesday to finalize plans to put the European Central Bank in charge of supervising banks, trying to meet a pledge to complete the legal framework for banking union by year-end.

(Reporting by John O'Donnell, Robin Emmott and Annika Breidthardt)