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Activities of Marco ZANNI related to 2021/0342(COD)

Shadow reports (1)

REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor
2023/02/10
Committee: ECON
Dossiers: 2021/0342(COD)
Documents: PDF(910 KB) DOC(341 KB)
Authors: [{'name': 'Jonás FERNÁNDEZ', 'mepid': 125046}]

Amendments (76)

Amendment 365 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Recital 46
(46) However, the actual CVA risk of the exempted transactions may be a source of significant risk for banks applying those exemptions; if those risks materialise, the banks concerned could suffer significant losses. As EBA highlighted in their report on CVA from February 2015, the CVA risks of the exempted transactions raise prudential concerns that are not being addressed under CRR. To help supervisors monitor the CVA risk arising from the exempted transactions, institutions should report the calculation of capital requirements for CVA risks of the exempted transactions that would be required if those transactions were not exempted. In addition, EBA should develop guidelines to help supervisors identify excessive CVA risk and to improve the harmonisation of supervisory actions in this area across the EU.deleted
2022/08/11
Committee: ECON
Amendment 373 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 18 – point b
(b) operational leasing, factoring, the management of unit trusts, the ownership or management of property, the provision of data processing services or any other activity that is ancillary to banking, these activities are concerned if the activity is mainly provided to the parent undertaking;
2022/08/11
Committee: ECON
Amendment 378 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 18 – point c
(c) any other activity considered similar by EBA to those mentioned in points (a) and (b);;deleted
2022/08/11
Committee: ECON
Amendment 439 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)
Regulation (EU) No 575/2013
Article 4 – paragaraph 1 – point 146 – introductory part
"(146) ‘large institution’ means an institution that is not a social economy entity and meets any of the following conditions: Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 444 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point x b (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 146a (new)
(146a) ‘Social economy entity’ means an entity that meets all of the following conditions: (a) the entity is not a G-SII (b) the entity and its subsidiaries are affiliated undertakings are linked according to Art. 22(7) of Directive 2013/34/EU and applicable national laws address subsidiaries to allocate profits mainly to common interests of members (c) subsidiaries or affiliated undertakings are small and non-complex entities according to point 145 of this article or less significant institutions according to Art.6(4) of Regulation (EU) 1024/2013;d) Affiliated undertakings are bound by national laws for a governance model informed by democratic principles " Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 490 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 11 a (new)
Regulation (EU) No 575/2013
Article 47a – paragraph 7 a (new)
(11 a) in Article 47a the following paragraph is added: 7a. For the purposes of point (m) of Article 36(1), when an eligible protection provider compensates credit losses according to the original scheduled payment dates of the guaranteed exposure, and that payment is effective, the eligible protection provider shall be deemed replaced the guaranteed party as debtor Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 497 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 11 b (new)
Regulation (EU) No 575/2013
Article 47c – paragraph 6 – subparagraphs 2 a (new) and 2 b (new)
(11 b) in Article 47c(6), the following subparagraphs are added: By way of derogation from paragraph 2 , when a non-performing exposure is purchased by a financial institution (i) from another financial institution which has originated the credit, (ii) at a price which is at least 50% lower than the total amount owed by the debtor, (iii) before the third year following its classification as non-performing, then the factors foreseen by paragraph 2 shall re-apply from the beginning, as if the exposure would have been just classified as non-performing. By way of derogation from paragraph 3, when a non-performing exposure is purchased by a financial institution, (i) from another financial institution, (ii) at a price which is at least 50% lower than the total amount owed by the debtor, (iii) before the seventh year following its classification of non performing, for non- performing exposures secured by other funded or unfunded credit protection, or before the nineth year following its classification as non performing, for non- performing exposure secured by immovable property, then the factors foreseen by paragraph 3 shall re-apply from the beginning, as if the exposure would have been just classified as non-performing. Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 506 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 13
Regulation (EU) No 575/2013
Article 49 – paragraph 4
4. The holdings in respect of which deduction is not made in accordance with paragraph 1 shall qualify as exposures and shall be risk weighted in accordance with Part Three, Title II, Chapter 2. The holdings in respect of which deduction is not made in accordance with paragraphs 1, 2 or 3 shall qualify as exposures and shall be risk weighted at 100 %.
2022/08/11
Committee: ECON
Amendment 520 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – introductory part
(a) the Common Equity Tier 1 capital of the subsidiary minus the lower of the following:;
2022/08/11
Committee: ECON
Amendment 523 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – point i
(i) the amount of Common Equity Tier 1 capital of that subsidiary required to meet the following: — institution, the sum of the requirement laid down in Article 92(1), point (a), tdeleted whe requirements referred to in Articles 458 and 459 , the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in Article 128, point (6), of that Directive, or any local supervisory regulations in third countries insofar as those requirements are to be met by Common Equity Tier 1 capital, as applicable; — investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in Article 39(2), point (a), of Directive (EU) 2019/2034, or any local supervisory regulations in third countries, insofar as those requirements are to be met by Common Equity Tier 1 capital, as applicable; the subsidiary is an where the subsidiary is an
2022/08/11
Committee: ECON
Amendment 544 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Common Equity Tier 1 capital that relates to that subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in Article 92(1), point (a), the requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU and the combined buffer requirement defined in Article 128, point (6), of that Directive; and the Common Equity Tier 1capital of the subsidiary required at local level to avoid restrictions on dividend payments. In case of third countries it shall be measured based on local own funds requirements;
2022/08/11
Committee: ECON
Amendment 551 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 575/2013
Article 85 – paragraph 1 – point a – introductory part
(a) the Tier 1 capital of the subsidiary minus the lower of the following:
2022/08/11
Committee: ECON
Amendment 553 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation EU No 575/2013
Article 85 – paragraph 1 – point a – point i
(i) the amount of Tier 1 capital of the subsidiary required to meet the following: — institution, the sum of the requirement laid down in Article 92(1), point (b), tdeleted whe requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in Article 128, point (6), of that Directive, or any local supervisory regulations in third countries insofar as those requirements are to be met by Tier 1 Capital, as applicable; — investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in Article 39(2), point (a), of Directive (EU) 2019/2034, or any local supervisory regulations in third countries insofar as those requirements are to be met by Tier 1 capital, as applicable; the subsidiary is an where the subsidiary is an
2022/08/11
Committee: ECON
Amendment 573 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 575/2013
Article 85 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Tier 1 capital that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in Article 92(1), point (b), the requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU and the combined buffer requirement defined in Article 128, point (6), of that Directive; and the Common Equity Tier 1 capital of the subsidiary required at local level to avoid restrictions on dividend payments. In case of third countries it shall be measured based on local own funds requirements;
2022/08/11
Committee: ECON
Amendment 583 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 20 a (new)
(20 a) in article 87(1), point (a) is replaced by the following: "(a) the own funds of the subsidiary minus the lower of the following: (i) the amount of own funds that relates tof the subsidiary that is required to meet the following: —on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 92(1) of this Regulation, the requirements referred to in Articles 458 and 459 of this Regulation, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in point (6) of Article 128 of that Directive, and any additional local supervisory regulations in third countries, — where the subsidiary is an investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in point (a) of Article 39(2) of Directive (EU) 2019/2034, and any additional local supervisory regulations in third countries; (ii) the amount of own funds that relates toown funds requirement in third countries and the Common Equity Tier 1 capital of the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 92(1) of this Regulation, the requirements referred to in Articles 458 and 459 of this Regulation, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in point (6) of Article 128 of that Directive, and any additional local supervisory own funds requirement in third countries; at local level to avoid restrictions on dividend payments; in case of third countries it shall be measured based on local own funds requirements; " Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 602 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point a – subparagraph 5a (new)
By way of derogation from the first subparagraph, institutions which deduct an IRB shortfall amount from their Common Equity Tier 1 in accordance with Article 36(1), point (d) shall apply the following formula: TREA= max {U-TREA; (x*S-TREA)– (SF*12,5)} where SF = the absolute value of the IRB shortfall deducted in accordance with Article 36(1), point (d)
2022/08/11
Committee: ECON
Amendment 653 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 30 – point e
(b) where the derivative position is subject to any of the requirements set out in Article 325c(2), points (b) or (c), or in Article 325e(1), point (c), the institution perfectly offsets the market risk of that derivative position by entering into opposite positions with third parties;
2022/08/11
Committee: ECON
Amendment 666 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 575/2013
Article 111 paragraph 4
4. For contractual arrangements offered by an institution, but not yet accepted by the client, that would become commitments if accepted by the client, and contractual arrangements that would qualify as commitments but meet the conditions for not being treated as commitments, the percentage applicable to that type of contractual arrangement shall be that provided for in accordance with paragraph 2.deleted
2022/08/11
Committee: ECON
Amendment 689 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point b a (new)
Regulation (EU) No 575/2013
Article 122 – paragraph 2 a (new)
(ba) the following paragraph is added: 2a. By way of derogation from paragraph 2, exposures under the standardised approach due to not-real estate leases granted by an institution to corporate borrowers against the payment of periodic contractual paymentsshall be assigned a risk weight of 70%, provided that all the following conditions are met: a) the lessor performs a complete credit risk assessment process comprising lessees, subject of leases and their relative suppliers; b) the lessor retains the legal ownership of the leased asset throughout the life of the contract; c) the lessor has the right to carry out on- site inspections/access; d) the leased assets are instrumental to the exercise of the borrower’s economic activities;
2022/08/11
Committee: ECON
Amendment 710 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point b
(b) where the purpose of a specialised lending exposure is to provide for short- term financing of reserves, inventories or receivables of exchange-liquidity traded commodities, including crude oil, metals, or cropsoft comodities, and the income to be generated by those reserves, inventories or receivables is to be the proceeds from the sale of the commodity (‘commodities finance exposures’), institutions shall apply a risk weight of 100 %;
2022/08/11
Committee: ECON
Amendment 718 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c – point i
(i) 1310 % where the project to which the exposure is related is in the pre- operational phase;
2022/08/11
Committee: ECON
Amendment 727 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c – point ii – indent 2
— the obligor has sufficient reserve funds fully funded in cash, or other financial arrangements, with highly rated guarantorsguarantors with an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent to a step 3 or higher with the bank validated internal rating model to cover the contingency funding and working capital requirements over the lifetime of the project being financed;
2022/08/11
Committee: ECON
Amendment 736 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 – introductory part
— where the revenues of the obligor are not funded by payments from a large number of users, the source of repayment of the obligation depends on one main counterparty and that main counterparty is one of the following:
2022/08/11
Committee: ECON
Amendment 739 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 –point c –point ii –indent 4 –indent 2
— a public sector entity, provided that that entity is assigned a risk weight of 20 % or below in accordance with Article 116, or is assigned an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent to a step 3 or higher with the bank validated internal rating model;
2022/08/11
Committee: ECON
Amendment 745 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 – indent 3
— a corporate entity which has been assigned an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent toa step 3 or higher with the bank validated internal rating model.
2022/08/11
Committee: ECON
Amendment 747 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 –indent 3 a (new)
- an entity that is replaceable without a significant change in the level and timing of revenues;
2022/08/11
Committee: ECON
Amendment 752 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 41
— equity is pledged or assigned to the lending institution such that they are able to take control of the obligor entity upon default;
2022/08/11
Committee: ECON
Amendment 770 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 42
EBA shall issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, to specify proportionate diversification methods under which an exposure is to be considered as one of a significant number of similar exposures as specified in point (b), by [OP please insert the date = 1 year after entry into force of this Regulation].deleted
2022/08/11
Committee: ECON
Amendment 774 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 43 a (new)
Regulation (EU) No 575/2013
Article 123 – subpargaraph 5 – introductory part
"Exposures due to loans granted by a credit institution to pensioners or employees with a permanent contract against the unconditional transfer of part of the borrower's pension or salary to that credit institution shall be assigned a risk weight of 350 %, provided that all the following conditions are met: "
2022/08/11
Committee: ECON
Amendment 777 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 42
Regulation (EU) No 575/2013
Article 123 paragraph 4 a (new)
4 a. By way of derogation from paragraph 3, exposures under the standardised approach due to not-real estate leases granted by an institution to retail borrowers against the payment of periodic contractual payments shall be assigned a risk weight of 55%, provided that all the following conditions are met: a) the lessor performs a complete credit risk assessment process comprising lessees, subject of leases and their relative suppliers; b) the lessor retains the legal ownership of the leased asset throughout the life of the contract; c) the lessor has the right to carry out on- site inspections/access; d) the leased assets are instrumental to the exercise of the borrower’s economic activities.
2022/08/11
Committee: ECON
Amendment 790 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 44
(i) the immovable property securing the exposure is the obligor’s primary residenceexposure is to an individual and secured by a residential property, either where the immovable property as a whole constitutes a single housing unit or where the immovable property securing the exposure is a housing unit that is a separated part within an immovable property;
2022/08/11
Committee: ECON
Amendment 801 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 44
Regulation (EU) No 575/2013
Article 124 – paragraph 2 – point c – point ii a (new)
(ii a) exposures related to property leasing transactions concerning offices or other commercial premises under which the institution is the lessor and the lessee has an option to purchase shall be assigned a risk weight of 50%provided that the exposure of the institution is fully and completely secured by its ownership of the property and the commercial immovable property is instrumental to the lessee’s economic activities.
2022/08/11
Committee: ECON
Amendment 829 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 47
Regulation (EU) No 575/2013
Article 126a – paragraph 2 – introductroy part
2. ADC exposures to residential or commercial property, however, may be risk weighted at 100 %, provided that, where applicable, the institution applies sound origination and monitoring standards which meet the requirements of Articles 74 and 79 of Directive 2013/36/EU and where at least one of the following conditions is met:
2022/08/11
Committee: ECON
Amendment 844 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 49
Regulation (EU) No 575/2013
Article 128 – paragraph 1 – point a
(a) debt exposures which are subordinated to claims of another ordinary unsecured creditors;
2022/08/11
Committee: ECON
Amendment 856 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 1 – point c – point iv – introductory part
(iv) the holder of the instrument has exercised the option to require that the obligation be settled in equity shares, unless one of the following conditions is met:
2022/08/11
Committee: ECON
Amendment 859 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 3 and 3a (new)
3. Equity exposures, other than those referred to in paragraph 3a and 4 to 7, shall be assigned a risk weight of 250 %, unless those exposures are required to be deducted or risk-weighted in accordance with Part Two. 3a. Exposures to equity listed on regulated markets shall be assigned a risk weight of 100%. Private equity exposures in sufficiently diversified portfolios shall be assigned a risk weight of 190 % unless those exposures are required to be deducted.
2022/08/11
Committee: ECON
Amendment 873 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 6
6. Equity exposures to central banks shall be assigned a risk weight of 100 %.
2022/08/11
Committee: ECON
Amendment 923 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 66 – point c a (new)
Regulation (EU) No 575/2013
Article 153 – paragraph 5 – subparagraph 1 – table 1
(ca) in paragraph 5, table 1 is amended as follows: Remainin Catego Catego Catego Catego Cate Cate Cate g Maturity ry 1 ry 2 ry 3 ry 4 gory gory gory 5 6 7 Less than 50 % 70 % 100 % 115 % 175 250 0% 2,5 years % % Equal or 70 % 90 % 100 % 115 % 175 250 0% more than % % 2,5 years
2022/08/18
Committee: ECON
Amendment 945 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 75 – point c – point ii – indent -1 (new)
Regulation (EU) No 575/2013
Article 162 – paragraph3 – subparagraph 2 – introductory part
- the introductory part is replaced by the following: In addition, for qualifying short-term exposures which are not part of the institution's ongoing financing of the obligor, M shall be at least one-day. This applies to IRB-Advanced and to IRB- Foundation methods. Qualifying short term exposures shall include the following: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 961 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 89 – point c a (new)
(c a) the following paragraph is inserted: 6a. EBA shall develop draft regulatory technical standards to specify the definition of diminished financial obligation in case of distressed restructuring for the purposes of paragraph 3(d). EBA shall submit those draft regulatory technical standards to the Commission by 31 December 2023. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No1093/2010. " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 988 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 98 a (new)
Regulation (EU) No 575/2013
Article 197a (new)
(98 a) the following article is inserted: Art 197a Additional eligibility for collateral under the Standardised Approach 1. Competent authorities shall permit an institution to use, as other eligible collateral, physical collateral where conditions specified in Article 199 (6) and in article 210 are met. Institutions shall document the fulfilment of these conditions. 2. Unless otherwise decided by the competent authorities regarding specific risk weights based on the product category, to exposures fully secured by a physical collateral, which met the conditions set in paragraph 1, shall be assigned a risk weight of 60%. Or. en (Regulation (EU) No 575/2013)
2022/08/18
Committee: ECON
Amendment 998 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 99 – point - a (new)
Regulation (EU) No 575/2013
Article 199 – paragraph 1 – introductory part
(-a) in paragraph 1, the introductory part is replaced by the following: In addition to the collateral referred to in Articles 197 and 198, institutions that calculate risk-weighted exposure amounts all approaches and methods and expected loss amounts under the IRB Approach may also use the following forms of collateral: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1018 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 103 a (new)
Regulation (EU) No 575/2013
Article 210 – introductory part
(103 a)"Physical collateral other than immovable property collateral shall qualify as eligible collateral under the IRB Approachall approaches and methods where all the following conditions are met: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1021 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 104 b (new)
Regulation (EU) No 575/2013
Article 212 – paragraph 2 – point g
g) the surrender value is declared by the company providing the life insurance and is non-reducible; (104 b) in Article 212(2), point (g) is replaced by the following: "g) the current surrender value is declared by the company providing the life insurance. Where the surrender value is reducible, it has to be revaluated during the exposure life cycle; " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1032 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 121 a (new)
(121 a) in Article 232, paragraphs 2 is replaced by the following: "2. Where the conditions set out in Article 212(2) are met, institutions shall subject the “portion of the exposure collateralised by the current surrender value of life insurance policies pledged to the lending institution” to the following treatment: (a) where the exposure is subject to the Standardised Approach, it shall be risk- weighted by using the risk weights specified in paragraph 3; (b) where the exposure is subject to the IRB Approach but not subject to the institution's own estimates of LGD, it shall be assigned an LGD of 40 % . The “portion of the exposure collateralized by the life insurance policies pledged to the lending institution”, where the surrender value (SV) is reducible, has to be calculated by the following formula: SV = SV · (1 - HC) where: HC = volatility adjustment. Where institutions are aware of the underlying exposures of the life insurance policy and the underlying exposures satisfy the eligibility criteria set out in Article 197and 198, they should calculate Hc as the weighted average of each underlying exposure Hc according to Art. 224, paragraph 1 Tables 1 to 3. Underlying exposures in the form of CIUs should be themselves subject to the look-through approach up the maximum extent. For the purposes of calculating weighted average Hc, underlying exposures not satisfying eligibility criteria set out in Article 197 and 198 and underlying exposures in the for of CIUs for which the look-through approach up to the maximum extent is not available should be considered as having Hc equal to 1. " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1050 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 131
Regulation (EU) No 575/2013
Article 314 – paragraph 3 – subparagraph 6 a (new)
For Institutions having a service component SC weight greater than 50% of the overall business indicator, the service component shall be calculated in accordance to the following formula: SC = min (SC0 , 50% BI) + max (0,[SC0-50% BI]) * SCCF where: SCCF: service component calibration factor proposed at 50%. SC0= max (OI , OE) + max (FI , FE)
2022/08/18
Committee: ECON
Amendment 1133 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 166 – point b
Regulation (EU) No 575/2013
Article 382 – paragraph 4b
4b. Institutions shall report to their competent authorities the results of the calculations of the own funds requirements for CVA risk for all the transactions referred to in paragraph 4. For the purposes of that reporting requirement, institutions shall calculate the own funds requirements for CVA risk using the relevant approaches set out in Article 382a(1), that they would have used to satisfy an own funds requirement for CVA risk if those transactions were not excluded from the scope in accordance with paragraph 4.deleted
2022/08/18
Committee: ECON
Amendment 1140 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 2 – subparagraph 1
2. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of foreign exchange spot rates, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1141 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 3 – subparagraph 1
3. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of counterparty credit spread rates, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1142 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 5 – subparagraph 1
5. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of equity spot prices, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1241 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 1
3. By way of derogation from Article 92(5)(a), point (i), parent institutions, parent financial holding companies or parent mixed financial holding companies, stand-alone institutions in the EU or stand- alone subsidiary institutions in Member States may, until 31 December2032, assign a risk weight of 65 % to exposures to corporates for which no credit assessment by a nominated ECAI is available provided that that entity estimates the PD of those exposures, calculated in accordance with Part Three, Title II, Chapter 3, is no higher than 0,5 %.
2022/08/18
Committee: ECON
Amendment 1242 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 2
EBA shall monitor the use of the transitional treatment laid down in the first subparagraph and the availability of credit assessments by nominated ECAIs for exposures to corporates. EBA shall report its findings to the Commission by 31 December 2028.deleted
2022/08/18
Committee: ECON
Amendment 1256 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 3
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.deleted
2022/08/18
Committee: ECON
Amendment 1294 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
5. By way of derogation from Article 92(5)(a), point (i), Member States may, allow parent institutions, parent financial holding companies or parent mixed financial holding companies, subsidiary institutions, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States are allowed to assign the following risk weights provided that all the conditions in the second subparagraph are met.
2022/08/18
Committee: ECON
Amendment 1300 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point a
(a) until 31 December 2032, a risk weight of 10 % to the part of the exposures secured by mortgages on residential property up to 565 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted,
2022/08/18
Committee: ECON
Amendment 1314 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point b
(b) until 31 December 2029, a risk weight of 45% to any remaining part of the exposures secured by mortgages on residential property up to 80 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted, provided that the adjustment to own funds requirements for credit risk referred to in Article 501 is not applied.
2022/08/18
Committee: ECON
Amendment 1325 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 2 – point a
(a) the qualifying exposures are located in thea Member State that has exercised the discretion;
2022/08/18
Committee: ECON
Amendment 1339 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – introductory part
Where the discretion referred to in the first subparagraph has been exercised and all the associated conditions in the second subparagraph are met, institutions may assign the following risk weights to the remaining part of the exposures referred to in the second subparagraph, point (b), until 31 December 2032:
2022/08/18
Committee: ECON
Amendment 1355 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – point c
(c) 67,5 % during the period from 1 January 2032 to 31 December 2032.
2022/08/18
Committee: ECON
Amendment 1363 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 4
When Member States exercise that discretion, they shall notify EBA and substantiate their decision. Competent authorities shall notify the details of all the verifications referred to in the first subparagraph, point (c), to EBA.deleted
2022/08/18
Committee: ECON
Amendment 1368 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
EBA shall monitor the use of the transitional treatment in the first subparagraph and report to the Commission by 31 December 2028 on the appropriateness of the associated risk weights.deleted
2022/08/18
Committee: ECON
Amendment 1376 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 6
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.;deleted
2022/08/18
Committee: ECON
Amendment 1405 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495a – paragraph 3
3. By way of derogation from Article 133 and Article 471, institutions may continue to assign the same risk weight that was applicable as of [OP please insert the date = one day before the date of entry into force of this amending Regulation] to equity exposures to entities– till a maximum of 250% - to the current value of equity exposures to entities, be they corporate or insurance undertakings, of which they have been a shareholder at [adoption date] for six consecutive years and over which they exercise significant influence in the meaning of Directive 2013/34/EU, or the accounting standards to which an institution is subject under Regulation (EC) No 1606/2002, or a similar relationship between any natural or legal person and an undertaking.
2022/08/18
Committee: ECON
Amendment 1445 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 1 – subparagraph 1 a (new)
This also applies to all the items listed in bucket 5 of Annex I;
2022/08/18
Committee: ECON
Amendment 1462 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 199 a (new)
Regulation (EU) No 575/2013
Article 500 – paragraph 1
(199 a)in Article 500(1) is replaced by the following: ‘1. By way of derogation from point (a) of Article 181(1), an institution may adjust its LGD estimates by partly or fully offsetting the effect of massive disposals of defaulted exposures on realised LGDs up to the difference between the average estimated LGDs for comparable exposures in default that have not been finally liquidated and the average realised LGDs including on the basis of the losses realised due to massive disposals, as soon as all the following conditions are met: (a) the institution has notified the competent authority of a plan providing the scale, composition and the dates of the disposals of defaulted exposures; (b) the dates of the disposals of defaulted exposures are after 23 November 2016 but not later than 28 June31 December 20225; (c) the cumulative amount of defaulted exposures disposed of since the date of the first disposal in accordance with the plan referred to in point (a) has surpassed 20 % of the outstandingcumulative amount of all defaulted exposures as of the date of the first disposal referred to in points (a) and (b). The adjustment referred to in the first subparagraph may only be carried out until 28 Juneon disposals formally approved by the bank competent body on the basis of the offers received until 31 December 20225 and its effects may last for as long as the corresponding exposures are included in the institution's own LGD estimates. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410)’ Or. en
2022/08/18
Committee: ECON
Amendment 1474 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 199 a (new)
Regulation (EU) No 575/2013
Article 500da (new)
(199 a)the following article is inserted: Article 500da 1. For the purpose of calculating loss in accordance with point (2) of Article 5, the artificial cashflow may reflect: (i) principal: total outstanding amount of the full loan at the moment of cure, but only the amount of missed payments (i.e. actual past due payments) accrued up to the moment of cure should be discounted; (ii) interest: amount accrued between the moment of default and the moment of cure; (iii) fees: amount accrued between the moment of default and the moment of cure; (iv) additional observed recoveries: total amount received up to the moment of cure; (v) additional drawings: firms should follow the requirements of CRR Articles 182(1)(c), 181(2)(b) and 182(3).Additional drawings included in the artificial cash flow should be treated in the same way as the principal; and (vi) costs: amount accrued between the moment of default and the moment of cure. 2. In applying point 1, the “moment of cure” may be defined as the moment when no triggers of default continue to apply at the start of the final probation period. 3. The artificial cash flow may be discounted over the actual period of default only (i.e. between the moment of default and the moment of cure) and, therefore, should not be discounted over any additional time period after the moment of cure, such as the final probation period. The rate at which artificial cash flow may be discounted should be based solely on the primary interbank offered rate during the period of default.
2022/08/18
Committee: ECON
Amendment 1478 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 200
Regulation (EU) No 575/2013
Article 501 – paragraph 1 – subparagraph 1
1. Institutions shall adjust the risk- weighted exposure amounts for non- defaulted exposures to an SME (RWEA), which are calculated in accordance with Chapter 2 or 3 of Title II of Part Three, as applicable, in accordance with the following formula: if E' > EUR 2 55 000 000, RW* = min RW; EUR 2 55 000 000 0.7619 + max 0; RW – 2 55 000 000 0.85 Oren
2022/08/18
Committee: ECON
Amendment 1484 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 201 – point -a (new)
Regulation (EU) No 575/2013
Article 501a – paragraph 1 – point a – introductory part
(-a) in Article 501a(1), the introductory part is replaced by the following: ‘1. Own funds requirements for credit risk calculated in accordance with Title II of Part III shall be multiplied by a factor of 0,7560, provided that the exposure complies with all the following criteria: (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410)’ Or. en
2022/08/18
Committee: ECON
Amendment 1485 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 201 – point a
Regulation (EU) No 575/2013
Article 501a – paragraph 1 – point a
(a) the exposure is assigned toincluded either in the corporate exposure class referred to either in Article 112, point (g),or in the specialised lending exposures class. Including Project Finance, Object Finance, Real Estate exposures to entities that operate or fin Article 147(2), point (c)ance physical structures facilities, assets , systems and networks that provide or support essential public services, with the exclusion of exposures in default;;
2022/08/18
Committee: ECON
Amendment 1522 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – introductory part
By [OP please insert the date = 60 months after date of application of Part Three, Title III], tThe EBA shall report to the Commission on all of the following:
2022/08/18
Committee: ECON
Amendment 1523 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – introductory part
By [OP please insert the date = 606 (six) months after the date of application of Part Three, Title III], the EBA shall report to the Commission on allthe use of a insurance policy standardized formula based ofn the following criteria:
2022/08/18
Committee: ECON
Amendment 1527 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point a and point b a (new)
(a) the use of insurance in the context of the calculation of the own funds requirements for operational risk;standardized formula to be used as capital requirements measurement purpose will take into account: a. a policy limit b. a policy deductible c. an adjustment depending on the chosen deductible, ensuring the benefit decreases as the deductible increases d. a standard haircut, to be determined by the competent Supervisor depending on the probability of each Insurer’s default or potential delay inpayments; e. a specific policy percentagecoverage related to the extent of the coverage, excluding overlapping withother policies. The reduction shall not exceed 20% of the capital requirement. (ba) EBA will identify eligible insurance contracts, with standardized wording pre- cleared by EBA by means of an ad hoc RTS (Regulatory TechnicalStandard).
2022/08/18
Committee: ECON
Amendment 1530 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point b
(b) whether the recognition of insurance recoveries may allow for regulatory arbitrage by reducing the annual operational risk loss without a commensurate reduction in the actual operational loss exposure;deleted
2022/08/18
Committee: ECON
Amendment 1531 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point c
(c) whether the recognition of insurance recoveries has a different impact on the appropriate coverage of recurring losses and of potential tail losses, respectively.deleted
2022/08/18
Committee: ECON
Amendment 1533 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Article 1 – paragraph 1 – point 205
On the basis of that report, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by [OP please insert the date = 72 months after date of application of Part Three, Title III].; as to take into consideration a standardized formula in the calculation of own funds requirements for operational risk, the Commission will be empowered to submit the formula to the European Parliament and the Council, a legislative proposal, by 12 months after date of application of Part Three, Title III. 2. The insurance provider shall be authorised to provide insurance or re- insurance and shall have a minimum claims paying ability rating by an ECAI which has been determined by EBA to be associated with credit quality step 3 or above under the rules for the risk weighting of exposures to institutions under Title II, Chapter 2. 3. The insurance and the institutions' insurance framework shall meet all the following conditions: a. the insurance policy has an initial term of no less than one year. For policies with a residual term of less than one year, an institution shall make appropriate haircuts reflecting the declining residual term of the policy, up to a full 100 % haircut for policies with a residual term of 90 days or less; b. the insurance policy has a minimum notice period for cancellation of the contract of 90 days; c. the insurance policy has no exclusions or limitations triggered by supervisory actions or, in the case of a failed institution, that preclude the institution's receiver or liquidator from recovering the damages suffered or expenses incurred by the institution, except in respect of events occurring after the initiation of receivership or liquidation proceedings in respect of the institution. However, the insurance policy may exclude any fine, penalty, or punitive damages resulting from actions by the competent authorities; d. the insurance is provided by a third party entity. In the case of insurance through captives and affiliates, the exposure has to be laid off to an independent third party entity that meets the eligibility criteria set out in paragraph 2; e. the framework for recognising insurance is well reasoned and documented. 4. The methodology for recognising insurance shall capture all the following elements through discounts or hair cuts in the amount of insurance recognition: a. the residual term of the insurance policy, where less than one year; b. the policy's cancellation terms, where less than one year; c. the uncertainty of payment as well as mismatches in coverage of insurance policies. 5. The reduction in own funds requirements from the recognition of insurances and other risk transfer mechanisms shall not exceed 20% of the own funds requirement for operational risk before the recognition of risk mitigation techniques.
2022/08/18
Committee: ECON
Amendment 1546 #
Marco ZANNI, Antonio Maria RINALDI, Valentino GRANT
Proposal for a regulation
Annex – table – column 2 – row 8
Regulation (EU) No 575/201
Annex 1
• Performance bonds, bid bonds, warranties and standby letters of credit related to particular transactions and similar transaction-related contingent itemsnot related to trade finance;
2022/08/18
Committee: ECON
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