17 Amendments of Gerolf ANNEMANS related to 2017/2072(INI)
Amendment 5 #
Motion for a resolution
Citation 6
Citation 6
— having regard to the ECB’s guidance to banks on non-performing loans of 20 March 2017, and to the public consultation on its draft addendum to this guidance of 4 October 2017,
Amendment 7 #
Motion for a resolution
Citation 6 a (new)
Citation 6 a (new)
- having regard to the opinion of the European Parliament's Legal Service of 9 November 2017 on the addendum to the ECB guidance to banks on non- performing loans (SJ-0693/17),
Amendment 8 #
Motion for a resolution
Citation 6 b (new)
Citation 6 b (new)
- having regard to the European Parliament resolution of 4 September 2007 on institutional and legal implications of the use of “soft law” instruments (P6_TA(2007)0366),
Amendment 65 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the Banking Union is acting on the consequences of the crisis and not on the causes;
Amendment 67 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas a proper structural reform of banks based on a clear separation between trading and credit activities is the only way to prevent the risk of bail-out at the expense of taxpayers and ensure financial stability;
Amendment 98 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the ECB’s ‘failing or likely to fail’ assessments in respect of Banco Popular Español S.A., Banca Popolare di Vicenza and Veneto Banca; whereas Banco Popular Español S.A. has been saved by private bond holders but Banca Popolare di Vicenza and Veneto Banca have been saved by state aid;
Amendment 113 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes the ECB’s determination in the context of the precautionary recapitalisation of Monte dei Paschi di Siena that the bank is solvent and meets the capital requirements; notes, in this regard, that the determination of solvency leaves room for an element of subjectivity as this determination greatly depends on how a bank’s assets are valued; notes that the market return of the bank implied a large paper loss for Italian tax payers;
Amendment 119 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Notes that the current supervisory system focuses on credit risk, completely ignoring exposure to risky trading activities and legal risks possibly affecting the sustainability of financial institutions;
Amendment 127 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reiterates its conceWarns about the high level of non- performing loans (NPLs) in certain jurisdictions; agrees with the Commission that ‘Member States and banks themselves have a primary responsibility in tackling non-performing loans’4 ; welcomes, nonetheless, the work done by different EU institutions and bodies on this issue; calls on these actors and the Member States to duly implement the Council conclusions of 11 July 2017 on the action plan to tackle non- performing loans in Europe; _________________ 4 Commission communication on completing the Banking Union, 11 October 2017, p. 15 (COM(2017)0592).
Amendment 140 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reiterates its concerns aboutNotes the high level of non- performing loans (NPLs) in certain jurisdictions; agrees with the Commission that ‘Member States and bpoints out that the problem can only be tackled definitively by meanks themselvof a systemic solution; stresses thave a primary responsibility in tackling non-performing loans’4; welcomes, nonetheless, the work done by different EU institutions and bodies ont this is the result of the macroeconomic imbalances caused by the EMU and poor crisis management with mistaken economic policies; considers thise issue; calls on these actors and the Member States to duly implement the Council conclusions of 11 July 2017 on to be crucial and calls on the Member States to adopt anti-cyclical policies to stimulate growthe action plan to tackle non- performing loans in Europe; _________________ 4Commission communication on completing the Banking Union, 11 October 2017, p. 15 (COM(2017)0592).nd support domestic demand in order to limit NPLs, given the need to resolve macroeconomic problems associated with chronic demand shortages and the collapsing purchasing power of households;
Amendment 163 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that there are risks associated with sovereign debt; notes that in some Member States financial institutions have overly invested in bonds issued by their own governments, constituting excessive ‘home bias’; takes notewarns, in this respect, of the Commission’s ongoing work on the idea of so-called sovereign bond-backed securities (SBBS), which opens the door to a transfer union;
Amendment 177 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. WelcomNotes the work done by the ECB to assess the adequacy of internal models, including its new guide to the TRIM, with a view to addressing the variability in risk-weights applied to risk- weighted assets of the same cl: maintains, however, that the use of such models increases across credit institutions; calls for a rapid conclusion of negoregulatory asymmetries in the banking union and results in an unjustified competiations on output floors wve disadvantage for smaller credith in the BCBSstitutions;
Amendment 184 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses that any further measures proposed by the ECB, a purely technocratic institution, should respect the principle of accountability and democratic transparency;
Amendment 212 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls for the repeal of the BRRD, which has already shown itself to be ineffective and dangerous for investors, bondholders and savers and for the stability of the financial system as a whole;
Amendment 306 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for progress to be made on the legislative proposals implemeOpposes the inclusion of a pre- resolution moratorium tool in the BRRD; strongly criticises the ECB proposal of 8 November 2017 containg total loss-absorbing capacity (TLAC) in Union law; supports the inclusion of a pre-resolution moratorium tool in the BRRDed in the 'Opinion of the ECB of 8 November 2017 on revisions to the Union crisis management framework(CON/2017/47), paragraph 5 point 1' ; Believes that freezing accounts below EUR 100 000 would have a devastating impact on confidence in the banking system and the protection of savers and their right, as enshrined in numerous national constitutions;
Amendment 358 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that deposit protection is a common concern for all EU citizens that should be managed at national level; is currently debating the proposal on an EDIS at committee level; notewarns, in this respect, that the Commission’s more proportionate ‘new approach’ to an EDIS as put forward in its communication of 11 October 2017 still infringes on national sovereignty;
Amendment 378 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes the potential benefits and the likely risks related to the introduction of an EDIS; considers,alls therefore, risk reduction measures to be essential building blocks laying the foundations for a for a halt to activities on EDIS;