3 Amendments of Costas MAVRIDES related to 2023/0115(COD)
Amendment 85 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) At present, the banking union rests on just two of its intended three pillars, namely, the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). It therefore remains incomplete, due to the absence of its third pillar, the European deposit insurance scheme (EDIS). The completion of the banking union forms an integral part of economic and monetary union and of financial stability, most notably by mitigating the risks of so-called ‘doom loop’ that arise as a result of the bank-sovereign nexus.
Amendment 111 #
Proposal for a directive
Recital 22 a (new)
Recital 22 a (new)
(22a) To avoid a DGS becoming insufficiently funded and unable to support a new intervention, robust and favourable alternative funding arrangements are required. Therefore, to prevent temporary financing by the Member States, and to ensure that it remains a last resort, the Single Resolution Board should be able to provide a guarantee based on the Single Resolution Fund to a DGS in order to facilitate its access to markets at favourable financing conditions. The Single Resolution Fund's guarantee should be provided when the DGS is required to intervene in resolution, yet available financial means are insufficient to satisfy the needs of such action.
Amendment 112 #
Proposal for a directive
Recital 22 b (new)
Recital 22 b (new)
(22b) The provision of Single Resolution Fund guarantees to DGSs pursuing alternative funding arrangements must not preclude, nor delay, any progress in the establishment of a fully-fledged European deposit insurance scheme, which remains the optimal solution.