4 Amendments of Luigi MORGANO related to 2018/0042(COD)
Amendment 16 #
Proposal for a regulation
Recital 4
Recital 4
(4) Pursuant to the third subparagraph of Article 129(1) of Regulation (EU) No 575/2013, competent authorities may partially waive the application of the requirement for exposures to qualify for credit quality step 1, laid down in point (c) of the first subparagraph of Article 129(1), and allow an exposure which qualifies for credit quality step 2 up to a maximum of 10% of the total exposure of the nominal amount of outstanding covered bonds of the issuing institution. Such a partial waiver however applies only after prior consultation with EBA and only provided that significant potential concentration problems in the Member States concerned can be documented as a result of the application of the credit quality step 1 requirement. As the requirements for exposures to qualify for credit quality step 1 as made available by External Credit Assessment Institutions have become increasingly difficult to comply with in most Member States both within and outside the euro zone, the application of that waiver was considered necessary by those Member States which host the largest covered bonds markets. To simplify the use of exposures to credit institutions as collateral for covered bonds and in order to address that difficulty, it is necessary to amend Article 129(1) of Regulation (EU) No 575/2013. Instead of a possibility for the competent authorities to waive the requirements, it is appropriate to establish a rule allowing exposures to credit institutions which qualify for credit quality step 2 or credit quality step 3 up to a maximum of 10% of the total exposure of the nominal amount of outstanding covered bonds of the issuing institution without the need to consult EBA.
Amendment 21 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a – point i – indent 2
Article 1 – paragraph 1 – point 1 – point a – point i – indent 2
Regulation (EU) No 575/2013
Article 129 – paragraph 1 – point c
Article 129 – paragraph 1 – point c
(c) "(c) exposures to credit institutions that qualify for the credit quality step 1, credit quality step 2 or credit quality step 23, as set out in this Chapter.;
Amendment 25 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 129 – paragraph 1a – point ba (new)
Article 129 – paragraph 1a – point ba (new)
(b a) for exposures to credit institutions that qualify for the credit quality step 3, the exposures shall not exceed 10 % of the total exposure of the nominal amount of outstanding covered bonds of the issuing credit institution;
Amendment 27 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 129 – paragraph 1a – point c
Article 129 – paragraph 1a – point c
(c) the total exposure to credit institutions that qualify for the credit quality step 1 or the credit quality step 2 or the credit quality step 3 shall not exceed 15 % of the total exposure of the nominal amount of outstanding covered bonds of the issuing credit institution.