7 Amendments of Joachim SCHUSTER related to 2023/0115(COD)
Amendment 134 #
Proposal for a directive
Recital 45
Recital 45
(45) Directive 2014/49/EU allows Member States to recognise an IPS as a DGS if it fulfils the criteria laid down in Article 113(7) of Regulation (EU) No 575/2013 and complies with Directive 2014/49/EU. To take into account the specific business model of those IPSs, in particular the relevance of preventive measures at the core of their mandate, it is appropriate to provide for the possibility of Member States to allowcontributing to financial stability at the core of their mandate, the possible need for IPSs to adapt to the new safeguards for the application of preventive measures within a 6-year period. This possibly longer compliance period takes into account the timeline for the build-up of a segregated fund for IPS purposes other than deposit insurance as agreed between the European Central Bank, the should be verified and approved by national competent authorityies and the relevant IPSs.
Amendment 192 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that DGSs use the available financial means referred to in Article 10 primarily to repay depositors in accordance with Article 8 without prejudice to the use of additionalthese financial means collected by DGSs for the fulfilment of mandates other than depositor protection under this Directive.
Amendment 195 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Member States shall ensure that DGSs use the available financial means to finance the resolution of credit institutions in accordance with Article 109 of Directive 2014/59/EU. Member States shall ensure that resolution authorities determine the amount that a DGS is to contribute to the financing of resolution of credit institutions, after those resolution authorities have consulted the DGS on the results of the least cost test referred to in Article 11e of this Directive.
Amendment 204 #
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 228 #
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 c
Article 11a – paragraph 1 – point c
(c) the use of preventive measures by the DGS is linked to conditions imposed on the supported credit institution, involving at least more stringent risk monitoring of the credit institution with corresponding governance arrangements for monitoring and greater verification rights for the DGS; and national competent authorities;
Amendment 245 #
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 3
Article 11a – paragraph 3
3. Member States shall ensure that DGSs may implement preventive measures only where the designated authority has confirmed that all the conditions laid down in paragraph 1 have been met. The designated authority shall notify the competent authority and the resolution authority.
Amendment 307 #
Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)Directive 2014/49/EU
Article 1 – paragraph 1 – point 13 a (new)Directive 2014/49/EU
Article 11f (new)
(13a) the following Article 11 f is inserted: Article 11f Preventive Measures by Institutional Protection Schemes 1. By way of derogation from Article 11 (3) and Articles 11a to 11e, Member States may allow an IPS falling under Article 1(2)(c) to use the available financial means for measures in order to prevent the failure of a credit institution provided that the following conditions are met: (a) the resolution authority has not taken any resolution action under Article 32 of Directive 2014/59/EU; (b) the IPS has appropriate systems and procedures in place for selecting and implementing alternative measures and monitoring affiliated risks which do not exceed the costs of fulfilling the statutory or contractual mandate of the IPS; (c) the use of these measures is accompanied by conditions for the supported credit institution, including more stringent risk monitoring and commitments as regards to securing access to covered deposits; (d) the credit institution requesting financing of the preventive measures shall be obliged to present a plan to ensure or restore compliance of the credit institution with the supervisory requirements set forth in Directive 2013/36/EU and Regulation (EU) No. 575/2013 in accordance with the conditions laid down in the statutory rules of the IPS as approved by the competent authority in accordance with Art. 113(7) of Regulation (EU) No. 575/2013. 2. Member States shall ensure that the competent authority has been consulted by the IPS on the preventive measures and the conditions imposed on the supported credit institution. They shall also verify the IPSs monitoring systems and decision-making procedures meet the conditions of this Article.