Activities of Mady DELVAUX related to 2017/2072(INI)
Plenary speeches (1)
Banking Union - Annual Report 2017 (debate) FR
Shadow reports (1)
REPORT on Banking Union – Annual Report 2017 PDF (410 KB) DOC (71 KB)
Amendments (44)
Amendment 18 #
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
- having regard to the Opinion of the Legal Service of the European Parliament concerning the legal effects of the draft document entitled “Addendum to the ECB Guidance to banks on non- performing loans: Prudential provisioning backstop for non-performing exposures” issued by the European Central Bank,
Amendment 19 #
Motion for a resolution
Citation 28 b (new)
Citation 28 b (new)
- having regard to the Commission’s targeted consultation on statutory prudential backstops addressing insufficient provisioning for newly originated loans that turn non- performing,
Amendment 35 #
Motion for a resolution
Recital B
Recital B
B. whereas the stock of non- performing loans of significant institutions (SIs) stood at EUR 865 billion at the end of March 2017, having significantly decreased from 950 billion at the same time in 2016, showing a declining trend;
Amendment 47 #
Motion for a resolution
Recital C
Recital C
Amendment 58 #
Motion for a resolution
Recital D
Recital D
D. whereas the Banking Union remains incomplete; establishment of the Banking Union is an indispensable component of a monetary union and a fundamental building block of a genuine Economic and Monetary Union, whereas further efforts are needed as the Banking Union remains incomplete as long as it lacks a fiscal backstop and a third pillar, this being a European approach to deposit re-/insurance; whereas a completed Banking Union will be an important contribution to breaking the sovereign- risk nexus;
Amendment 71 #
Motion for a resolution
Recital E
Recital E
Amendment 77 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the primary responsibility of banks is to provide finance to the real economy;
Amendment 82 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas a coherent, fully-fledged framework for macroprudential supervision at European level is still lacking;whereas microprudential tools are insufficient to address macroeconomic risks;
Amendment 83 #
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas the risks in the banking sector have already been substantially reduced since the start of the establishment of the Banking Union and the institutional and regulatory framework for European banks has been fundamentally reinforced;whereas advances on risk sharing however remain very limited;
Amendment 86 #
Motion for a resolution
Recital E d (new)
Recital E d (new)
E d. whereas Member States which have not yet adopted the euro are welcome to join the Banking Union;whereas financial institutions see advantages in being situated within the Banking Union;whereas Denmark, Sweden and Bulgaria are in discussions about the possibility to join the Banking Union;
Amendment 96 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the ECB’s ‘failing or likely to fail’ assessments in respect of Banco Popular Español S.A., Banca Popolare di Vicenza and Veneto BancaAgrees with the Commission that procedures leading to decisions whether or not a bank is ‘failing or likely to fail’ need to be improved;
Amendment 107 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes the ECB’s determination in the context of the precautionary recapitalisation of Monte dei Paschi di Siena that the bank is solvent and meets the capital requirements; notes, in this regard, that the determination of solvency leaves room for an element of subjectivity as this determinat use of asset quality reviews in order to determine whether the conditions for precautionary recapitalisation gareatly depends on how a bank’s assets are valu met should be clarified;
Amendment 130 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reiterates its concerns about the high level of non-performing loans (NPLs) in certain jurisdictions; agrees with the Commission that whereas ‘Member States and banks themselves have a primary responsibility in tackling non-performing loans’4 ; welcomes, nonetheless, integrating national and European Union level efforts is warranted to make an impact on Non Performing Loan stocks and prevent the future build-up of new Non Performing Loans on banks' balance sheets’4;welcomes the progress made by some Member States; welcomes in general, the work done by different EU institutions and bodies on this issue, would however welcome better coordination between their efforts; calls on these actors and the Member States to duly implement the Council conclusions of 11 July 2017 on the action plan to tackle non-performing loans in Europe; reiterates the concerns of the EP and its legal service concerning the addendum to the ECB guidance on NPLs; recalls that the general principles of law making in the Union which require impact assessments and consultation, as well as the assessment of proportionality and subsidiarity are also relevant for 3rd level legislation; calls for more transparency in the elaboration of 3rd level guidance; _________________ 4 Commission communication on completing the Banking Union, 11 October 2017, p. 15 (COM(2017)0592).
Amendment 153 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that there are risks associated with sovereign debt; notes that in some Member States financial institutions have overly invested in bonds issued by their own governments, constituting excessive ‘home bias’; recalls that one of the main objectives of the Banking Union is to break the bank- sovereign-risk-nexus; considers that the EU regulatory framework on prudential treatment of sovereign debt should be consistent with the international standard; awaits, therefore the results of the FSB’s work on sovereign debt with great interest in order to guide future decisions; stresses the crucial role of government bonds in providing high- quality and liquid assets for the financial sector and safe liabilities for governments; takes note, in this respect, of the Commission’s ongoing work on the idea of so-called sovereign bond-backed securities (SBBS);
Amendment 180 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the work done by the ECB to assess the adequacy of internal models, including its new guide to the TRIM, with a view to addressing the variability in risk-weights applied to risk- weighted assets of the same class across credit institutions; calls for a rapid conclusion offollows with interest the ongoing negotiations on output floors within the BCBS;
Amendment 194 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 215 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. RIs of the opinion that banking activity should be supervised regardless the entity it is undertaken by; calls, in this regard, for an approach to FinTechs which strikes the right balance between protecting the consumers, maintaining financial stability and encouraging innovation; recalls its resolution of 17 May 2017 on FinTech; welcomes, in this respect, the work of the Commission, the proposed inclusion of technological innovation in the mandates of the ESAs and the ongoing public consultation on the ECB’s draft guidance to assessments of FinTech bank licence applications;
Amendment 224 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the work done by the EBA and E, ESMA and the SSMA on promoting supervisory convergence in the context of the UK’s withdrawal from the EU with a view to limiting the development of regulatory and supervisory arbitrage risks; believes that, in order to preserve financial stability, a new supervisory cooperation model should be developed between the EU and the UK and the creation of empty shells and letter box companies; believes that any further framework should safeguard financial stability in the Union and respect its regulatory and supervisory regime and standards and their application;
Amendment 227 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 237 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Looks forward toIs concerned by developments showing trends for banking groups to use increasingly complex structures and entities that undertake largely the same activities as banks but escape bank supervision; awaits a clarification of this issue by the Commission’s forthcoming proposal on large investment firms;
Amendment 238 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Welcomes the progress made in allowing some delegation in the area of fit and proper decisions by the Decision of the ECB of June 2017;reiterates its assessment that a change in the regulations is needed to allow more and easier delegation of decision-making on certain routine issues, from the Supervisory Board to relevant officials; reiterates its favourable view of such a change which would contribute to making the ECB’s banking supervision more efficient and effective; calls on the ECB to specify tasks for the delegation of decision-making;
Amendment 247 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Acknowledges the high costs of implementing supervision requirements; is concerned that these costs can be especially difficult to handle for smaller banks; welcomes therefore the efforts of the Commission to introduce more proportionality in supervision;
Amendment 250 #
10c. Welcomes that the Commission in its reply to the Banking Union Annual Report 2016 shares the Parliament’s view that reporting requirements should be streamlined in order to avoid double reporting and unnecessary additional costs of regulation;
Amendment 253 #
Motion for a resolution
Paragraph 10 d (new)
Paragraph 10 d (new)
10d. Reiterates its stressing of the importance of strong and well- functioning IT systems corresponding to the needs of the supervisory functions of the SSM and security concerns; acknowledges that the increased digitalisation of all aspects of banking has left them significantly more vulnerable to cyber security risks; welcomes the progress made by many actors; however calls on them to be more ambitious;
Amendment 254 #
Motion for a resolution
Paragraph 10 e (new)
Paragraph 10 e (new)
10e. Welcomes the good functioning of the SSM; especially welcomes the excellent work of the JSTs; is however concerned about reports of insufficient staff allocations to JSTs; reiterates its call to dedicate more ECB personnel to the JSTs in order to strengthen the European element of supervision and to reduce reliance on staff from NCAs in order to further improve the independence of supervision; is concerned about the high level of external experts employed by the ECB on supervisory tasks;
Amendment 255 #
Motion for a resolution
Paragraph 10 f (new)
Paragraph 10 f (new)
10f. Is concerned that the Commission has not issued a proposal for on overall review of the macro-prudential framework which was planned for 2017;
Amendment 256 #
Motion for a resolution
Paragraph 10 g (new)
Paragraph 10 g (new)
10g. Welcomes that the Banking Union has significantly improved the collection and exchange of data on the European banking system, contributing for example to better benchmarking;
Amendment 257 #
Motion for a resolution
Paragraph 10 h (new)
Paragraph 10 h (new)
10h. Calls for an interinstitutional agreement between the ECB and the ECA to specify the exchange of information between both institutions;
Amendment 258 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 268 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Notes that the lack of harmonisation of national insolvency laws in the field of banking results in different treatments of creditors depending on the jurisdictions where the institution in resolution is established; calls therefore on the Commission and Member States to take further steps towards the harmonisation of bank insolvency law in order to ensure a more level playing field within the banking union and within the Union as a whole across those institutions that will not be subject to resolution;
Amendment 276 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that, while the concern aboutRecalls the mismatch between sState aid rules and Union legislation as expressed in the previous report5 related to the ability of deposit guarantee schemes (DGSs) to participate in resolution as provided for in the BRRD and DGSD, the 2017 banking cases brought to light other areas of mismatch, in particular the possibility for Member States to avoid being subject to the discipline of the BRRD by paying ‘liquidation aid’; _________________ 5 European Parliament, Resolution of 15 February 2017 on ‘Banking Union – Annual Report 2016’, paragraph 38.; calls on the Commission to reconsider its interpretation of the State aid rules with reference to Articles 11(3) and11(6) of the DGSD to guarantee that preventive and alternative measures provided for by the European legislator can be actually implemented;
Amendment 284 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. CRecalls on the Commission to underneed to adhere to stakte as soon as possible the review referred to in the last subparagraph of Article 32(4) of the BRRD, taking into account the interplay between the new resolution regime and the 2013 Bid rules when dealing with banking crises, and that the public support measures shall be of precautionary and temporary nature and shall be proportionate to remedy the consequences of the serious disturbance and shall not be used to offset losses that ank ing Communication, in order to draw lessons from the 2017 banking casesstitution has incurred or is likely to incur in the near future;
Amendment 295 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the SRB’s prioritisation of enhancingwork on resolvability of credit institutions, as well as the progress made in developing individual minimum requirement for own funds and eligible liabilities (MREL) targets in the framework of institution- specific resolution strategiesat consolidated level;
Amendment 301 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the progress made iagreement reached on further harmonising the priority ranking of unsecured debt instruments through the Commission’s proposal of November 2016; calls for rapid implementation by Member States so that banks can issue debt in the new insolvency class and thereby build up the required buffers;
Amendment 310 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for progress to be made on theNotes ongoing legislative proposals for implementing total loss-absorbing capacity (TLAC) in Union law; supports the inclusion of a pre-resolution moratorium tool in the BRRD;
Amendment 319 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes the ongoing technical work byRegrets the lack of progress within the Council on athe common fiscal backstop for the Single Resolution Fund (SRF); recalls that the fiscal backstop is key to ensure a credible and efficient resolution framework in the Banking Union; considers that the backstop should be set within the community framework with adequate resources, including the ESM integrated within the EU legal framework;
Amendment 330 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Recalls that the substance of the Intergovernmental Agreement on the Single Resolution Fund (SRF) is to be ultimately incorporated into the Union legal framework; reiterates its calls on the Commission to reflect on ways of doing so;
Amendment 332 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Calls for an improvement of the practical modalities of cooperation and exchange of information between all European and national bodies involved in early intervention and resolution;
Amendment 333 #
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
17c. Insists on the importance of improved cooperation for swift and effective coordination between supervisory and resolution authorities; would welcome in this respect change in the relevant SSM Regulation to allow for a representative of the Single Resolution Board as a permanent observer at meeting of the Supervisory Board of the SSM;
Amendment 334 #
Motion for a resolution
Paragraph 17 d (new)
Paragraph 17 d (new)
17d. Emphasises the importance of operational and credible resolution plans and in that context acknowledges the problems that single point of entry strategies could imply for the financial stability of host countries if not appropriately designed; calls therefore for the completion of the mechanisms foreseen in resolution plans by operational loss upstreaming mechanisms through sufficiently high buffers of internal MREL and by arrangements preventing that losses can be downstreamed within the resolution group when resolution tools are applied to the resolution entity;
Amendment 335 #
Motion for a resolution
Paragraph 17 e (new)
Paragraph 17 e (new)
17e. Is concerned about the influence that resolution decisions can have on the structure of the banking system; calls on the Commission to closely monitor this issue, follow-up on decisions taken and inform the European Parliament about its findings on a regular basis;
Amendment 343 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 356 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that deposit protection is a common concern for all EU citizens and that the Banking Union remains incomplete without its third pillar; is currently debating the proposal on an EDIS at committee level; notes, in this respect, the Commission’s more proportionate ‘new approach’ to an EDIS as put forward in its communication of 11 October 2017, while maintaining its original proposal;
Amendment 371 #
Motion for a resolution
Paragraph 22
Paragraph 22