Activities of Marco ZANNI related to 2023/0115(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2014/49/EU as regards the scope of deposit protection, use of deposit guarantee schemes funds, cross-border cooperation, and transparency
Amendments (23)
Amendment 87 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The Union crisis management framework should ensure at all times that losses are not being socialised and taxpayers’ resources are not employed to aid or rescue credit institutions in difficulty, unless in extraordinary circumstances of a systemic nature or pertaining to very large economic turmoil.
Amendment 101 #
Proposal for a directive
Recital 18
Recital 18
(18) Pursuant to Article 10(2) of Directive 2014/49/EU, it is confirmed that Member States are to ensure that by 3 July 2024, the available financial means of a DGS reach a target level of 0,8 % of the amount of the covered deposits of its members. To objectively assess whether DGSs fulfil that requirement, a clear reference period should be set to determine the amount of covered deposits and DGSs’ available financial means.
Amendment 109 #
Proposal for a directive
Recital 22
Recital 22
(22) It is necessary to enhance depositor protection, while avoiding the need for a fire sale of the assets of a DGS and limiting possible negative pro-cyclical effects over the banking industry caused by the collection of extraordinary contributions. DGSs should therefore be allowed to use alternative funding arrangements that enable them to obtain at any time short- term funding from sources other than contributions, including before using their available financial means and funds collected through extraordinary contributions. Because credit institutions should primarily bear the cost and responsibility for financing DGSs, alternative funding arrangements from public funds should only be used where they act as a last resort.
Amendment 173 #
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point a – point -i (new)
Article 1 – paragraph 1 – point 11 – point a – point -i (new)
Directive 2014/49/EU
Article 10 – paragraph 2 – subparagraph 1
Article 10 – paragraph 2 – subparagraph 1
Amendment 184 #
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point e a (new)
Article 1 – paragraph 1 – point 11 – point e a (new)
Directive 2014/49/EU
Article 10 – paragraph 9
Article 10 – paragraph 9
Amendment 188 #
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point g
Article 1 – paragraph 1 – point 11 – point g
Directive 2014/49/EU
Article 10 – paragraph 11
Article 10 – paragraph 11
11. Member States shall ensure that in the context of the measures referred to in Article 11(1), (2), (3) and (5), DGSs may use the funds originating from the alternative funding arrangements referred to in Article 10(9) which are not financed through public funds, before using the available financial means and before collecting the extraordinary contributions referred to in Article 10(8). Member States shall ensure that DGSs use alternative funding arrangements financed through public funds only as a last resort.
Amendment 199 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3 – introductory part
Article 11 – paragraph 3 – introductory part
3. Member States may allowshall ensure that DGSs tocan use the available financial means for preventive measures as referred to in Article 11a for the benefit of a credit institution where all of the following applies:
Amendment 202 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3 – point a
Article 11 – paragraph 3 – point a
(a) none of the circumstances referred to inthe resolution authority has not taken any resolution action under Article 32(4) of Directive 2014/59/EU are present;
Amendment 214 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 5
Article 11 – paragraph 5
5. Where a credit institution is wound up in accordance with Article 32b of Directive 2014/59/EU in order to exit the market or terminate its banking activity, Member States may allowshall ensure that DGSs tocan use the available financial means for alternative measures to preserve the access of depositors to their deposits, including the transfer of assets and liabilities and a deposit book transfer, provided that the DGS confirms that the cost of the measure does not exceed the cost of repaying depositors as calculated in accordance with Article 11e of this Directive and that all the conditions laid down in Article 11d of this Directive are met.’;
Amendment 219 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – introductory part
Article 11a – paragraph 1 – introductory part
1. Where Member States shallow the use of DGS funds for preventive measures as referred to in Article 11(3), Member States shall ensure that ensure that the designated authorities, after consulting the competent authorities and the resolution authorities, approve in a timely manner the use of the available financial means of DGSs use the available financial means for the preventive measures referred to in Article 11(3), provided that all of the following conditions are met:
Amendment 233 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point f
Article 11a – paragraph 1 – point f
(f) the credit institution complies with its obligations under this Directive and has fully reimbursed any previous preventive measure.
Amendment 248 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 4a (new)
Article 11a – paragraph 4a (new)
4a. EBA shall develop draft guidelines to specify the following: (a) the conditions referred to under paragraph 1, point (c); (b) the monitoring systems and decision making systems that DGSs are to have in place in accordance with paragraph 2. EBA shall submit those guidelines to the Commission by ... [one year after the date of entry into force of this amending Directive].
Amendment 250 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 1
Article 11b – paragraph 1
1. Member States shall ensure that credit institutions which request a DGS to finance preventive measures in accordance with Article 11(3) present to the competent authority for consultation a note with measures that those credit institutions commit to undertake to ensure or restoreand maintain compliance with the applicable supervisory requirements applicable to the credit institution concerned and that are laid down in Directive 2013/36/EU and Regulation (EU) No 575/2013.
Amendment 267 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 6
Article 11b – paragraph 6
6. Where the Union State aid framework is applicable, Member States shall ensure that the measures envisaged in the note referred to in paragraph 1 are aligned with the restructuring plan that the credit institution is required to submit to the Commission under that framework, in accordance with the Union State aid framework, to be accordingly updated taking into account the European Court of Justice pronouncements, before the entry into force of the Directive.
Amendment 284 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11d – paragraph 1
Article 11d – paragraph 1
1. Where Member States shallow enable the use of DGS funds for the alternative measures referred to in Article 11(5), they. Member States shall ensure that when DGSs finance such measures the credit institutionsa marketing, or make arrangements for the marketing of,should be performed having regard to the assets, rights and liabilities those credit institutions intend to transfer. Without prejudice to the Union State aid framework, such marketing shall comply with all of the following:
Amendment 290 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point b
Article 11e – paragraph 2 – point b
Amendment 292 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point c
Article 11e – paragraph 2 – point c
(c) for the measures referred to in Article 11(2), (3) and (5), when estimating the cost of repaying depositors, as referred to in paragraph 1, point (b), the DGS shall take into account the expected ratio of recoveries, and any indirect costs, including the cost for the replenishment of the DGS that is to be borne by credit institutions that are members of the DGS, and the potential additional costs of funding for the DGS and for the banking system and the impact on the weaker banks;
Amendment 294 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point d
Article 11e – paragraph 2 – point d
(d) for the measures referred to in Article 11(3),2), (3), and (5) when estimating the cost of repaying depositors, the DGS shall multiply the estimated ratio of recoveries calculated in accordance with the methodology referred to in paragraph 5, point b, by 85 %.
Amendment 299 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5
Article 11e – paragraph 5
The EBA shall develop draft regulatory technical standards to specifyguidelines to specify, taking into consideration the specific features of each Member State:
Amendment 300 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5 – point b
Article 11e – paragraph 5 – point b
(b) the methodology for the calculation of the estimated cost of repaying depositors referred to in paragraph 1, point (b), including the estimated ratio of recoveries referred to in paragraph 2, point (c), which shall take into account the specific features of the Member State concerned;
Amendment 302 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5 – subparagraph 3
Article 11e – paragraph 5 – subparagraph 3
Amendment 303 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Amendment 332 #
Proposal for a directive
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
Directive 2014/49/EU
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
They shall apply those provisions from … [OP – please insert the date = 24 months after the date of entry into force of this Directive]. However, they shall apply the provisions necessary to comply with Article 11(3), as amended by this Directive, and Articles 11a, 11b, 11c and 11e in relation to preventive measures from … [PO – please insert the date = 4836 months after the date of entry into force of this Directive].