19 Amendments of Alfred SANT related to 2022/2061(INI)
Amendment 1 #
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
— having regard to the Commission proposal of 24 November 2015 for a regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 in order to establish a European Deposit Insurance Scheme (COM(2015)0586),
Amendment 17 #
Motion for a resolution
Citation 30 a (new)
Citation 30 a (new)
— having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 24 #
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM); whereas although the Deposit Guarantee Schemes Directive4 (DGSD) sets out high minimum standards in the area of deposit protection, the BU remains unfinished because thewhile lacking the establishment of its third pillar – the European deposit insurance scheme (EDIS) – has not yet been establishexposing the financial sector to risks that could be avoided; _________________ 4 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).
Amendment 56 #
Motion for a resolution
Recital G
Recital G
G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber risks; whereas the Digital Operational Resilience Act, that will enter into force in 2025, will provide a robust and sector- specific framework for banks to prepare and deal with cyber threats;
Amendment 59 #
Motion for a resolution
Recital H
Recital H
H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules, establish a European supervisory authority for AML purposes and ensure a consistent and effective implementation of these rules;
Amendment 68 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Amendment 69 #
Motion for a resolution
Recital I b (new)
Recital I b (new)
I b. whereas the European banking sector largely remains the main provider of financing of companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 83 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
J a. whereas the Transmission Protection Instrument (TPI) established by the ECB can mitigate risks of fragmentation and financial instability;
Amendment 97 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that the banking sector, in conjunction with public support measures, haspublic support measures coupled with the ECB's monetary policy decisions and regulatory adjustments - which allowed for loan repayment moratoria and credit renegotiation - acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience;
Amendment 153 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Highlights the role of the banking system in supporting the transition to a carbon-neutral economy; considers that the new geopolitical environment increases the urgency of this transition, most notably on clean energy production; underlines the utmost importance of making a socially just transition; reminds that the costs of this transition will be lower than the cost of inaction, as acknowledged by the ECB; encourages the ECB to assess the possibility of a differentiated rate for sustainable investments that contribute most to reducing inflationary pressures, such as those in energy efficiency and renewable energy production;
Amendment 157 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection; notes in this regard that customers are receptive to digital services, and banks have used this to their advantage by accelerating their digital transformation, at the expense of retail branch networks; stresses that, while these changes may help banks ensure the sustainability of their business models, utmost attention should be given to rising inequalities between users that are digitally literate and others that can only make a limited use at best and that have no access to digital means in the worst cases;
Amendment 166 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 168 #
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Welcomes the recent approval of the directive on improving the gender balance among directors of companies listed on stock exchanges, and related measures, following several years without progress; encourages all EU financial institutions to comply with the objectives of this legislation as soon as possible, thus contributing to gender balance in this sector;
Amendment 180 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the banking sector’s profitability has increased over the past year; stresses that bank profitability is driven by many factors that have to be weighed and considered such as bank- specific factors but also market structure factors and macro-financial factors, which differ as indicated from bank to bank and from national and regional markets to others as well;
Amendment 183 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Notes that in the case of small banks there has been, although necessary, increasing regulatory pressures to combat money laundering and negative interest rates, which had eroded their profit margins, and stricter credit risk policy, which has reduced their risk appetite; with the implementation of additional legislations, not least cybersecurity requirements, warns about the impact on the costs and fees applied to customers; in this regard, and given the upcoming retail investors’ strategy, calls for the inclusion and awareness about such concerns on financial services customer fees in future legislations;
Amendment 220 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Notes that the ongoing and future AML rules, to be implemented effectively, necessitate significant human resources adjustments; stresses in this respect that due diligence processes, records and documentation as well as enhanced monitoring of customer relationships require extensive targeted training for bank employees and the recruitment of additional already trained staff, putting significant pressure on the operations of small and middle sized banks with limited resources; highlights the need to integrate 'traditional' SME banks, and their equivalent, within the AML system in ways that make them active players without endangering further their sustainability;
Amendment 226 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’; calls on the Commission to assess the need to better regulate the shadow-banking sector and to put forward, where appropriate, legislative proposals;
Amendment 254 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund (SRF) should be fully filled up and that all banks should be fully resolvable by the end of 2023; highlights the SRF’s crucial role in preventing bank bailouts by tax payers; notes that further progress is needed by all banks;
Amendment 301 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Points out that any EDIS should take into account clear rules for the participation of non-euro-area Member States; encourages the Eurogroup to work in inclusive format to finalise on a consensual basis a time-bound and action driven work plan on the way towards its completion;