10 Amendments of Joachim SCHUSTER related to 2019/2130(INI)
Amendment 47 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas recent large-scale money laundering scandals involving financial institutions in the EU demonstrate that prudential and anti-money laundering supervision cannot be treated separately and that a proper system of supervision and enforcement of EU legislation is lacking;
Amendment 59 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the full implementation of the Banking Union is necessary to deliver more financing to the economy – both to households and companies, specially SMEs –, promoting investment and job creation;
Amendment 92 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes however that the prospect of low risk and low profitability, the deterioration of the macroeconomic scenario and geopolitical tensions as well as cyber risks and data security are among the major challenges the EU banking sector is facing;
Amendment 99 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; calls further on all European banks to sign up the UN-led Principles for Responsible Banking and report annually on their efforts to sustainable financing and to reducing climate change-related risks in their balance sheets;
Amendment 105 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines the importance of protecting consumer rights, namely regarding banking fees, the transparency of products costs, profitability and risks; calls, in this respect, on the European Banking Authority to devote more focus in fulfilling its mandate on properly collecting, analysing and reporting on consumer trends, and also on the review and coordination of financial literacy and education initiatives by the competent authorities;
Amendment 151 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that the ratio of non- performing loans (NPLs) held by significant institutions has fallen by more than half from the start of ECB banking supervision, in November 2014, to June 2019; underlines the need to protect customers’ rights in the context of NPL transactions and calls on Member States to put measures in place to ensure that borrowers, who might be in already vulnerable financial situations, are not subject to aggressive and unfair treatment and practices by poorly-regulated debt buyers and collectors;
Amendment 187 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that innovative financial technologies are profoundly transforming the financial sector, including banking and payment services; highlights the need to address the challenges posed by these new technologies, such as ensuring sustainable business models, a level playing field in terms of regulation and supervision, and cybersecurity; underlines the financial institutions’ responsibility in ensuring clients’ data protection and security in accordance with EU law;
Amendment 201 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the agreement on the exchange of information between the ECB and the AML/CFT supervisors; recalls its serious concern about regulatory and supervisory fragmentation in the AML/CFT area, which is ill-suited to supervise the increasing cross-border activity in the EU; welcomes, in this regard, the Council Conclusions of 5 December 2019, which give a mandate to the Commission to explore ways of ensuring better cooperation between authorities and conferring AML tasks to a Union body, and to turn certain parts of the Anti-money Laundering Directive into a Regulation, to ensure a single rulebook; calls on the Commission to start working on the overhaul of the EU AML framework and legislation to effectively address the risks posed by cross-border illegal activity to the integrity of the EU financial system and the security of EU citizens;
Amendment 256 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that banks need to be able to operate across borders while managing their capital and liquidity at a consolidated level, in order to diversify their risks and address any lack of profitability; highlights that rules should allow for greater flexibility for the parent company in this regard, while specifying that, in the event of a crisis, the parent company should provide capital and liquidity to the subsidiary located in the host country; notes the importance of the convergence of liquidation rules among Member States;
Amendment 265 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges the completion of the Banking Union through the creation of a fully mutualised EDIS,European deposit insurance scheme based on an effective supervisory regime and crisis management, a harmonised bank insolvency legislation and on the further development of the European resolution regime to protect depositors against banking disruptions and, to ensure confidence among depositors and investors across the Banking Union and to reinforce the stability of the euro area as a whole; welcomes the support of the [incoming] President of the Commission and the President of the ECB for the establishment of EDIS;