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33 Amendments of Fulvio MARTUSCIELLO related to 2016/0360A(COD)

Amendment 227 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Recital 70 a (new)
(70a) Directive 2009/138/EC of the European Parliament and of the Council (Solvency II), harmonizing the rules that apply to insurance and reinsurance undertakings, had introduced modifications aiming to grant financial stability and equity, in pursuit the fundamental objective of stabilizing the markets. However it should be taken into consideration the presence, in the Member States, of insurance undertakings with listed shares in a regulated market, under the control of the competent supervisory Authorities of the Member States, performing insurance activities according to a low risk business model implying a moderate financial leverage exploitation (not higher than 5 times) a low risk-taking attitude in investments and a high percentage of profits represented by the insurance core business; therefore, such undertakings result to have a more contained risk profile compared to similar institutions with a broad variety of business models, also with financial content. It has been noted that, in the European Union, insurances result to be less exposed to systemic risk, also by virtue of a more conservative investment policy and that the effects of the financial and markets crisis, following 2008, which has driven financial institution's income statement downwards, has not substantially affected insurance undertakings, generally remaining positive, with relatively stable profit margins. Such stability has been reflected by the last years insurance companies’ stock market performances of listed shares in regulated markets of the European Union that, compared to financial institutions, although in the context of a general recessive trend of the markets after 2008, have reduced significantly the downward trends in shares value. Non control holdings in such insurance undertakings operating according to a low financial risk business model, can therefore be assimilated to other equity/industrial holdings, and consequently to the specific discipline in matter of deduction of items from Core Tier 1 capital, provided for by the supervisory Authorities of the Member States with reference to other industrial undertakings.
2018/02/02
Committee: ECON
Amendment 230 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point c a (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 27 – point e
(ca) in point (27) of paragraph 1, point (e) is replaced by the following: "(e) a third-country (non-EU) insurance undertaking; (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575-" Or. en 20180101&qid=1516181927876&from=EN)
2018/02/02
Committee: ECON
Amendment 231 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point c b (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 27 – point g
(cb) in point (27) of paragraph 1, point (g) is replaced by the following: "(g) a third-country (non-EU) reinsurance undertaking; " Or. en (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575- 20180101&qid=1516181927876&from=EN)
2018/02/02
Committee: ECON
Amendment 232 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point c c (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 27 – subparagraph 1 a (new)
(cc) in point (27) of paragraph 1, the following subparagraph is added after point (l): "For the purposes of this Regulation, the undertakings referred to in letters d), f) and h) above, shall be qualified as financial sector entity, where one of the following conditions are met: a) the shares of such undertakings are not listed in a EU regulated market; b) such entities do not act according to a low financial risk insurance business model; c) the institution owns more than 15% of the voting rights or capital of that undertaking. Notwithstanding the foregoing, Member States’ competent authorities retain the power to qualify such entities as financial sector entities if they are not satisfied with the level of risk control and financial analysis procedures specifically adopted by the institution in order to supervise the investment in the undertaking or holding company."
2018/02/02
Committee: ECON
Amendment 327 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 18
Regulation (EU) No 575/2013
Article 49 – paragraph 1 – introductory part
(18) In Article 49, the introductory part of paragraph 1 is replaced by the following: 1. For the purposes of calculating own funds on an individual basis, a sub- consolidated basis and a consolidated basis, where the competent authorities require or permit institutions to apply method 1, 2 or 3 of Annex I to Directive 2002/87/EC, the competent authorities may permit institutions shall not to deduct the holdings of own funds instruments of a financial sector entity in which the parent institution, parent financial holding company or parent mixed financial holding company or institution has a significant investment, provided that the conditions laid down in points (a) to (e) of this paragraph are met:" Or. en (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575- 20180101&qid=1516096790798&from=EN)
2018/02/02
Committee: ECON
Amendment 329 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 18
Regulation (EU) No 575/2013
Article 49 – paragraph 1 – point b
(18) In Article 49, paragraph 1, point (b) is replaced by the following: "(b) that insurance undertaking, re- insurance undertaking or insurance holding company: (i) is included in the same supplementary supervision under Directive 2002/87/EC as the parent institution, parent financial holding company or parent mixed financial holding company or institution that has the holding; " or (ii) is consolidated by the institution using the net equity method and the competent authorities are satisfied with the level of risk control and financial analysis procedures specifically adopted by the institution in order to supervise the investment in the undertaking or holding company;" Or. en (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575- 20180101&qid=1516096790798&from=EN)
2018/02/02
Committee: ECON
Amendment 330 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 18
Regulation (EU) No 575/2013
Article 49 – paragraph 1 – point c
"(c) the institution has received the prior permission of the competent authorities;" (18) In Article 49, paragraph 1, point (c) is deleted. deleted Or. en (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575- 20180101&qid=1516096790798&from=EN)
2018/02/02
Committee: ECON
Amendment 339 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point c a (new)
Regulation (EU) No 575/2013
Article 52 – paragraph 1
(ca) In Article 52, paragraph 1, the following subparagraph 2 a is added: By way of derogation from Article 52(1), conditions (p), (q) and (r) shall not be applicable to instruments issued prior to (•)/201(•)/. ". (date of application of the Regulation amending CRR) Such instruments shall qualify as Additional Tier 1 Capital until the maturity date."
2018/02/02
Committee: ECON
Amendment 350 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point d a (new)
Regulation (EU) No 575/2013
Article 63 – subparagraph 1 a (new)
(da) In Article 63, the following new subparagraph 1 a is added: "By way of derogation from Article 63 conditions (n), (o) and (p) shall not be applicable to instruments issued prior to (•)/201(•)(date of application of the Regulation amending CRR). Such instruments shall qualify as Tier 2 Capital until the maturity date." Or. en (https://ec.europa.eu/transparency/regdoc/rep/1/2016/EN/COM-2016-850-F1-EN- MAIN.PDF)
2018/02/02
Committee: ECON
Amendment 357 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72 a – paragraph 2 – point l
(l) liabilities arising from debt instruments with embedded derivatives in accordance with Article 45b (2) of Directive 2014/59/EU.
2018/02/02
Committee: ECON
Amendment 366 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point h
(h) the provisions governing the liabilities do not include any incentive for their principal amount to be called, redeemed, repurchased prior to their maturity or repaid early by the institution, as applicable;deleted
2018/02/02
Committee: ECON
Amendment 368 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point i
(i) subject to Article 72c(2), the liabilities are not redeemable by the holders of the instruments prior to their maturity;deleted
2018/02/02
Committee: ECON
Amendment 369 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point j
(j) where the liabilities include one or more call options or early repayment options, as applicable, the options are exercisable at the sole discretion of the issuer;deleted
2018/02/02
Committee: ECON
Amendment 374 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point k
(k) the liabilities may only be called, redeemed, repurchased or repaid early where the conditions laid down in Articles 77 and 78 are met;deleted
2018/02/02
Committee: ECON
Amendment 377 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point l
(l) the provisions governing the liabilities do not indicate explicitly or implicitly that the liabilities would or might be called, redeemed, repurchased or repaid early, as applicable by the resolution entity other than in case of the insolvency or liquidation of the institution and the institution does not otherwise provide such an indication;deleted
2018/02/02
Committee: ECON
Amendment 379 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – point m
(m) the provisions governing the liabilities do not give the holder the right to accelerate the future scheduled payment of interest or principal, other than in case of the insolvency or liquidation of the resolution entity;deleted
2018/02/02
Committee: ECON
Amendment 386 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – subparagraph 1 a (new)
By way of derogation from this paragraph and Articles 72b (3) (a) and 72 (b) (4) (b) below, instruments issued by entities referred to in points (a), (b), (c), and (d) of Article 1 (1) of Directive 2014/59/EU prior to (date of application of the Regulation amending CRR) shall qualify as eligible liabilities instruments where they at least meet the conditions laid down in points (a), (b), (c), (d), and (e) provided that they do not need to meet point (d) for the purpose of Article 45b of Directive 2014/59/EU. Such instruments shall qualify as eligible until the maturity date.
2018/02/02
Committee: ECON
Amendment 556 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 52 a (new)
Regulation (EU) No 575/2013
Article 123 – introductory part
(52a) The introductory part of Article 123 is replaced by the following: "Exposures that comply with the following criteria shall be assigned a risk weight of 7560 %:" (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=en)Or. en
2018/02/05
Committee: ECON
Amendment 561 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 52 a (new)
Regulation (EU) No 575/2013
Article 124 – paragraph 2
(52a) In Article 124, paragraph 2 is replaced by the following: "2. Based on the data collected under Article 101, and any other relevant indicators, the competent authorities shall periodically, and at least annually, assess whether the risk-weight of 20 % or 35 % for exposures secured by mortgages on residential property referred to in Article 125 and the risk weight of 50 % for exposures secured on commercial immovable property referred to in Article 126 located in their territory are appropriately based on: (a) the loss experience of exposures secured by immovable property; (b) forward-looking immovable property markets developments; Competent authorities may set a higher risk weight or stricter criteria than those set out in Article 125(2) and Article 126(2), where appropriate, on the basis of financial stability considerations. For exposures secured by mortgages on residential property, the competent authority shall set the risk weight at a percentage from 3520 % through 150 %, For exposures secured on commercial immovable property, the competent authority shall set the risk weight at a percentage from 50 % through 150 %, Within these ranges, the higher risk weight shall be set based on loss experience and taking into account forward-looking markets developments and financial stability considerations. Where the assessment demonstrates that the risk weights set out in Article 125(2) and Article 126(2) do not reflect the actual risks related to one or more property segments of such exposures, fully secured by mortgages on residential property or on commercial immovable property located in one or more parts of its territory, the competent authorities shall set, for those property segments of exposures, a higher risk weight corresponding to the actual risks. The competent authorities shall consult EBA on the adjustments to the risk weights and criteria applied, which will be calculated in accordance with the criteria set out in this paragraph as specified by the regulatory technical standards referred to in paragraph 4 of this Article. EBA shall publish the risk weights and criteria that the competent authorities set for exposures referred to in Articles 125, 126 and 199(1)(a)." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=." Or. en)
2018/02/05
Committee: ECON
Amendment 567 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 52 a (new)
Regulation (EU) No 575/2013
Article 125 – paragraph 2 – point d
(52a) In paragraph 2 of Article 125, point (d) is replaced by the following: "(d) unless otherwise determined under Article 124(2), the part of the loan to which the 3520 % risk weight is assigned does not exceed 80 % of the market value of the property in question or 80 % of the mortgage lending value of the property in question in those Member States that have laid down rigorous criteria for the assessment of the mortgage lending value in statutory or regulatory provisions." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=; the part of the loan which exceeds 80% of the market value of the property in question or 80% of the mortgage lending value of the property in question receives a risk weighting of 35%." Or. en)
2018/02/05
Committee: ECON
Amendment 588 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 57 a (new)
Regulation (EU) No 575/2013
Article 155 a (new)
(57a) The following Article 155a is inserted: "Article 155a Adjustment to risk weight exposure amount for investment in private equity in the form of units or shares in a Collective Investment Undertakings (CIU) 1. The Risk-weighted exposure amount for investments in private equity in the form of units or shares in a Collective Investment Undertakings as resulting from art 128, 132, 152 and 155 complying with point 2 below, shall be adjusted, in accordance with the following formulae: Adjusted risk-weighted exposure amount = RW exposure value * 0,85 2. The adjustment referred to in paragraph 1 shall only apply to exposures to private equity funds provided their investments are made in undertakings that comply with the following criteria: (i) at the time the investment was made, they were not admitted to trading on a regulated market or on a multilateral trading facility (MTF) as defined in points (21) and (22) or Article 4(1) of Directive 2014/65/EU of the European Parliament and the Council; (ii) they employ up to 499 persons; 3. The Commission shall, by (three years after the entry into force) report on the impact of the requirement laid down in this Regulation on private equity investments on not listed companies activity and shall submit that report to the European Parliament and to the Council, together with a legislative proposal, if appropriate."
2018/02/05
Committee: ECON
Amendment 592 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 57 a (new)
Regulation (EU) No 575/2013
Article 178 – paragraph 1
(57a) In Article 178, paragraph 1 is replaced by the following: "1. A default shall be considered to have occurred with regard to a particular obligor when either or both of the following have taken place: (a) the institution considers that the obligor is unlikely to pay its credit obligations to the institution, the parent undertaking or any of its subsidiaries in full, without recourse by the institution to actions such as realising security; (b) the obligor is past due more than 90 days on any material credit obligation to the institution, the parent undertaking or any of its subsidiaries. Competent authorities may replace the 90 days with 180 days for exposures secured by residential or SME commercial real estate in the retail exposure class, as well as exposures to public sector entities). The 180 days shall not apply for the purposes of Article 127. In the case of retail exposures, institutions may apply the definition of default laid down in points (a) and (b) of the first subparagraph at the level of an individual credit facility rather than in relation to the total obligations of a borrower." In the case of retail exposures to public sector entities, institutions mashall only apply the definition of default laid down in points (a) and (b) of the first subparagraph at the level of an individual credit facility rather than in relation to the total obligations of a borrower." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=." Or. en)
2018/02/05
Committee: ECON
Amendment 790 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 s – point b
(b) assets that have a residual maturity of less than six months resulting from secured lending transactions and capital market-driven transactions as defined in Article 192(2) and (3) with financial customers, where those assets are collateralised by assets that qualify as Level 1 assets under Title II of Delegated Regulation (EU) 2015/61, excluding extremely high quality covered bonds referred to in point (f) of Article 10(1) of that Delegated Regulation , and where the institution would be legally entitled and operationally able to reuse those assets for the life of the transaction, regardless of whether the collateral has already been reused. Institutions shall take those assets into account on a net basis where Article 428e(1) of this Regulation applies;deleted
2018/02/05
Committee: ECON
Amendment 859 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 r – point a a (new)
(aa) assets that have a residual maturity of less than six months resulting from secured lending transactions and capital market-driven transactions as defined in Article 192(2) and (3), cleared through a CCP, where those assets are collateralised by assets that qualify as Level 1 assets under Title II of Delegated Regulation (EU) 2015/61, excluding extremely high quality covered bonds referred to in point (f) of Article 10(1) of that Delegated Regulation, and where the institution would be legally entitled and operationally able to reuse those assets for the life of the transaction, regardless of whether the collateral has already been reused. Institutions shall take those assets into account on a net basis where Article 428e(1) of this Regulation applies;
2018/02/05
Committee: ECON
Amendment 860 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 r – point a b (new)
(ab) assets that have a residual maturity of less than six months resulting from secured lending transactions and capital market driven transactions as defined in Article 192(2) and (3) with regulated financial costumers, where the institution would be legally entitled and operationally able to reuse those assets for the life of the transaction, regardless of whether the collateral has already been reused. Institutions shall take those assets into account on a net basis where Article 428e(1) of this Regulation applies.
2018/02/05
Committee: ECON
Amendment 990 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 450 – point h – point vii a (new)
(viia) the amounts of severance payments awarded during the financial year, number of beneficiaries and highest such award to a single person; The disclosure of any additional data based on the quantitative information referred to in this Article is optional for institutions.
2018/02/05
Committee: ECON
Amendment 997 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 118 a (new)
Regulation (EU) No 575/2013
Article 471 – paragraph 1
(118a) In Article 471, paragraph 1 is replaced by the following: "1. By way of derogation from Article 49(1), during the period from 1 January 2014 to 31 December 2022, competent authorities may permit(...) to (...), institutions toshall not deduct equity holdings in insurance undertakings, reinsurance undertakings and insurance holding companies where the following conditions are met:" (a) the conditions laid down in points (a), (c) and (e) of Article 49(1); (b) the competent authorities are satisfied with the level of risk control and financial analysis procedures specifically adopted by the institution in order to supervise the investment in the undertaking or holding company; (c) the equity holdings of the institution in the insurance undertaking, reinsurance undertaking or insurance holding company do not exceed 15 % of the Common Equity Tier 1 instruments issued by that insurance entity as at 31 December 2012 and during the period from 1 January 2013 to 31 December 2022; (d) which is not deducted does not exceed the amount held in the Common Equity Tier 1 instruments in the insurance undertaking, reinsurance undertaking or insurance holding company as at 31 December 2012." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02013R0575-;" the amount of the equity holding Or. en 20180101&qid=1516096790798&from=EN)
2018/02/05
Committee: ECON
Amendment 998 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 118 b (new)
Regulation (EU) No 575/2013
Article 471 – paragraph 1 – point a
(118 b)point (a) of paragraph 1 is replaced by the following: "(a) the conditions laid down in points (a), (c) and (e) of Article 49(1); " Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1516959916742&uri=CELEX:02013R0575-20180101)
2018/02/05
Committee: ECON
Amendment 999 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 118 c (new)
Regulation (EU) No 575/2013
Article 471 – paragraph 1 – point c
(118c) point (c) of paragraph 1 is replaced by the following: "(c) the equity holdings of the institution in the insurance undertaking, reinsurance undertaking or insurance holding company do not exceed 15 % of the Common Equity Tier 1 instruments issued by that insurance entity as at 31 December 2012 and during the period from 1 January 2013 to 31 December 2022;" ;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1516959916742&uri=CELEX:02013R0575-20180101)
2018/02/05
Committee: ECON
Amendment 1000 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 118 d (new)
Regulation (EU) No 575/2013
Article 471 – paragraph 1 – point d
"(d) the amount of the equity holding which is not deducted does not exceed the amount held in the Common Equity Tier 1 instruments in the insurance undertaking, reinsurance undertaking or insurance holding company as at 31 December 2012." (118d) Point (d) of paragraph 1 is deleted. Or. en (http://eur-lex.europa.eu/legal-content/en/TXT/?uri=celex%3A32013R0575)
2018/02/05
Committee: ECON
Amendment 1001 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 118 e (new)
Regulation (EU) No 575/2013
Article 471 – paragraph 2
(118e) paragraph 2 is replaced by the following: "2. The equity holdings which are not deducted pursuant to paragraph 1 shall qualify as exposures and be risk weighted at 37250 %." Or. en (http://eur-lex.europa.eu/legal-content/en/TXT/?uri=celex%3A32013R0575)
2018/02/05
Committee: ECON
Amendment 1060 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 a a (new)
Article 501aa Supporting factor for financing and investing in Green assets 1. Capital requirements and investing in Green assets (as defined in paragraph 2) shall be multiplied by the factor 0.75. The factor shall be applied to exposures to an entity which already exist or which has been created specifically, and which finances, refinances, operates in Green assets or is an holding company of entities which performs the same activities. 2. For the purpose of this Article, the following shall apply: Green assets are defined in accordance with the definition provided by the Climate Bonds Initiative 1a or with the Green Bond Principles or any other label with the same level of acceptance in the market. For the purpose of implementing the definition referred to in subparagraph 1, the EBA shall prepare draft technical regulatory standards. The EBA shall submit those draft regulatory technical standards to the Commission by... (one year after entry into force of this Regulation). Power is conferred on the Commission to supplement this Regulation by adopting delegated acts in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 with the regulatory technical standards specified in subparagraph 3 of this paragraph. 3. Institutions shall report the total amount of green assets, calculated in accordance to paragraph 2, to the relevant authorities annually. 4. The EBA shall, (three years after entry into force of this regulation), report to the Commission on the impact of the own funds requirement on the financing of, and investment in, green assets. For the purposes of this article, the EBA report to the Commission shall include the following: (a) an analysis of the developments in financing and investments in green assets over the period specified in subparagraph 1 of this article; (b) an analysis of the effective risk profile of green assets over the entire economic cycle; (c) any additional points which the EBA regards as important in this report. 5. The Commission shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal if considered necessary. 6. The Green Support Factor cannot be combined with the SME support factor referred to in Article 501, the infrastructure support factor referred to in Article 501a or the support factor for social enterprises referred to in Article 501db.
2018/02/05
Committee: ECON
Amendment 1061 #
Fulvio MARTUSCIELLO
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 d a (new)
Article 501da Supporting factor for ECC loans. 1. Capital requirements for exposures granted after an auditable Environmental and Climate Change (ECC) screening process (as defined in paragraph 2) shall be multiplied by the factor 0,75. 2. For the purpose of this Article, the following shall apply: An ECC screening process is one that takes into account the potential exposure to environmental and climate change risk factors such as; I. environmental improvements; II. potential losses arising from more intense climate events (physical risks); potential financial difficulties stemming from non-compliance with environmental and climate change rules (fines, withdrawal of production authorisation etc.,, liability risks); III. potential risk of market share reduction (e.g. as a result on increased demand for green products and development on new technologies redundant (transition risks; damage to brand or image, reputational risk); IV. others (e.g. increased energy costs). For the purpose of implementing the definition referred to in subparagraph 1, the EBA shall prepare draft technical regulatory standards. The EBA shall submit those draft regulatory technical standards to the Commission by... (one year entry into force of this Regulation). Power is conferred on the Commission to supplement this Regulation by adopting delegated acts in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 with the regulatory technical standards specified in subparagraph 3 of this paragraph. 3. Institutions shall report the total amount of loans that are consistent with the definition set out in paragraph 2, to the relevant authorities annually. 4. The EBA shall, (three years after entry into force of this regulation), report to the Commission on the impact of the own funds requirement on the financing of, and investment in, green assets. For the purposes of this Article, the EBA report to the Commission shall include the following: (a) an analysis of the developments in financing and investments in green assets over the period specified in subparagraph 1 of this article; (b) an analysis of the effective risk profile of green assets over an entire economic cycle; (c) any additional points which the EBA regards as important in this report. 5. The Commission shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal if considered necessary. 6. The ECC loan factor cannot be combined with the Green Supporting Factor referred to in Article 501 aa (new 502), with the SME support factor referred to in article 501, the infrastructure support factor referred to in Article 501a or the support factor for social enterprises referred to in Article 501db.
2018/02/05
Committee: ECON
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