11 Amendments of Brian HAYES related to 2016/0360B(COD)
Amendment 47 #
Proposal for a regulation
Recital 51
Recital 51
(51) The application of the expected credit loss provisioning introduced by the revised international accounting standards on financial instruments “IFRS9”, may lead to a sudden significant increase in the capital ratios of institutions. Whereas the Basel Committee is currently considering the longer-term regulatory capital treatment of expected credit loss provisions and while discussions are on- going on the appropriate prudential treatment of the impact of increased expected credit losses and to prevent an unwarranted detrimental effect on lending by credit institutions, the incremental provisioning for credit risk of IFRS9 should be phased in.
Amendment 50 #
Proposal for a regulation
Recital 51 a (new)
Recital 51 a (new)
(51a) For institutions that have not applied transitional provisions for the incremental provisioning for credit risk of IFRS9 and in the case of a significant economic shock, those institutions should be given an option at a later date to apply transitional provisions, in accordance with the procedures set out in this Regulation and subject to the prior approval of the competent authority.
Amendment 91 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 1
Article 473a – paragraph 1
1. Until [date of application of this Article + 5 years]31 December 2022 institutions that prepare their accounts in conformity with the international accounting standards adopted in accordance with the procedure laid down in Article 6(2) of Regulation (EC) No 1606/2002 may add to their Common Equity Tier 1 capital the amount calculated in accordance with paragraph 2 of this Article multiplied by the applicable factor laid down in paragraph 3.
Amendment 95 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 2
Article 473a – paragraph 2
2. The amount referred to in paragraph 1 shall be calculated as the twelvethe greater of the following: (a) zero (b) the after-tax amount calculated in accordance with point (i) reduced by the amount calculated in accordance with point (ii): (i) the sum of the loss allowances for 12- month expected credit losses determined in accordance with paragraph 5.5.5 of the Annex to Commission Regulation (EU) No …. / 2016 (32 ) and the amount of the loss allowance for financial instruments equal to the lifetime expected lo2016/2067 and the loss allowances for lifetime expected losses determined in accordance with paragraph 5.5.3 of the Annex to that Regulation for financial instruments that are not credit-impaired financial assets as defined in Appendix A of the Annex to that Regulation; (ii) the total amount of impairment losses on loans and receivables, held to maturity investments and available for sale assets determined in accordance with paragraph 5.5.3 ofs 63, 67 and 68 of IAS 39 adopted in the Union by Commission Regulation (EUC) No …. / 2016 (1). _________________ 32 Commission Regulation (EU) No …./2016 of .. …… 2016 adopting certain international accounting standards in accordance with1126/2008 as at 31 December 2017 or on the day before the first application of IFRS 9, reduced by the total amount of the loss allowances for lifetime expected losses of credit impaired financial instruments that are not credit- impaired financial assets determined in accordance with paragraph 5.5.3 of the Annex to Regulation (ECU) No 1602016/2002 of the European Parliament and of the Council (OJ L , ……, p. )67 as at 1 January 2018 or on the date of the first application of IFRS 9.
Amendment 108 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – point a
Article 473a – paragraph 3 – point a
(a) 1 in the period from [date of application of this Article] to [ date of application of this Article + 1 year - 1 day]1 January 2018 to 31 December 2018;
Amendment 115 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – point b
Article 473a – paragraph 3 – point b
(b) 0,89 in the period from [date of application of this Article + 1 year] to [date of application of this Article + 2 years - 1 day]1 January 2019 to 31 December 2019;
Amendment 127 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – point c
Article 473a – paragraph 3 – point c
(c) 0,67 in the period from [date of application of this Article +2 years] to [date of application of this Article +3 years - 1 day]1 January 2020 to 31 December 2020;
Amendment 140 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – point d
Article 473a – paragraph 3 – point d
(d) 0,45 in the period from [date of application of this Article +3 years] to [date of application of this Article +4 years - 1 day]1 January 2021 to 31 December 2021;
Amendment 154 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – point e
Article 473a – paragraph 3 – point e
(e) 0,23 in the period from [date of application of this Article +4 years] to [date of application of this Article +5 years - 1 day]1 January 2022 to 31 December 2022.
Amendment 158 #
Proposal for a regulation
Article 1 – paragraph 1 – point 119 (new)
Article 1 – paragraph 1 – point 119 (new)
Regulation (EU) No 575/2013
Article 473a – paragraph 3 – subparagraph 1 a (new)
Article 473a – paragraph 3 – subparagraph 1 a (new)
During the transitional period referred to in this paragraph, institutions that have not applied transitional provisions from the starting period referred to in point (a) of the first paragraph, may on a one-off basis apply the remaining transtitional provisions subject to the prior approval of the competent authority.
Amendment 183 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b
Article 3 – paragraph 2 – subparagraph 1 – point b
(b) the provisions in point (119) concerning amendments to Article 473a of Regulation (EU) No 575/2013, which shall apply from the date of entry into force of this Regulation1 January 2018.