22 Amendments of Jonás FERNÁNDEZ related to 2017/2072(INI)
Amendment 20 #
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
- having regard to the Five Presidents' Report of 22 June 2015 on completing Europe's Economic and Monetary Union,
Amendment 21 #
Motion for a resolution
Citation 33 a (new)
Citation 33 a (new)
- having regard the ESRB EU Shadow Banking Monitor Nº 2 from May 2017,
Amendment 53 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the establishment of the Banking Union is an indispensable component of a monetary union and a fundamental building block of a genuine economic and monetary union;
Amendment 61 #
Motion for a resolution
Recital D
Recital D
D. whereas further and swift efforts are needed to the accomplishment of the Banking Union as it remains incomplete as long as it lacks a fiscal backstop and its third pillar of a European Deposit Insurance Scheme (EDIS);
Amendment 64 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the establishment of a European Deposit Insurance Scheme (EDIS) is necessary to ensure the homogeneous protection of depositors and the completion of the Banking Union;
Amendment 68 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas a completed Banking Union is fundamental to break the sovereign-banks nexus;
Amendment 69 #
Motion for a resolution
Recital D c (new)
Recital D c (new)
D c. whereas in order to function properly the Banking Union needs the establishment of a European safe asset;
Amendment 70 #
Motion for a resolution
Recital D d (new)
Recital D d (new)
D d. whereas participation in the Banking Union is open to Member States that have not yet adopted the euro;
Amendment 91 #
Motion for a resolution
Paragraph –1 (new)
Paragraph –1 (new)
-1 Encourages all Member States that have not yet adopted the euro to take all necessary steps to do so, or to join the Banking Union, in order to progressively align the Banking Union with the entire internal market;
Amendment 92 #
Motion for a resolution
Paragraph –1 a (new)
Paragraph –1 a (new)
-1 a Considers that the Banking Union should be underpinned by a risk-free asset issued by the Union and/or the euro area;
Amendment 118 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Calls on EBA, the ESRB, the ECB and the Commission to use consistent methodologies, scenarios and assumptions when defining the stress tests to apply to financial institutions in order to avoid the mismatch, as seen, between stress tests results and resolution decisions taken closely after the presentation of these results;
Amendment 138 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reiterates itIs concerns abouted with the high level of non-performing loans (NPLs) and Level III assets in certain jurisdictions; agrees with the Commission that ‘Member States and banks themselves have a primary responsibility in tackling non-performing loans’4 ; welcomes, nonetheles; stresses, nonetheless, that a European solution providing support to the Member States' and banks' actions and efforts on tackling NPLs should be establish; welcomes, 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 159 #
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 note, in this respect,stresses that modifying the prudential treatment of sovereign debt could have a significantly negative effect on the financial sector, which calls for caution in reform efforts; considers that a EU regulatory framework should be consistent with international standards; takes note of the Commission’s ongoing work on the idea of so-calleda sovereign bond-backed securities (SBBS);
Amendment 240 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Welcomes that the Banking Union has widely eliminated the home-host issue in supervision by the establishment of a single supervisor and the greatly improved exchange of relevant information between supervisory authorities, enabling a more holistic supervision of cross-border banking groups;
Amendment 244 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Welcomes the ECB initiative to oblige supervised banks to report significant cyber-attacks under a real time alert service and the SSM on-site inspections to supervise cyber-security; calls for the establishment of a legal framework which facilitates the exchange of sensitive information relevant to prevent cyber-attacks between banks;
Amendment 251 #
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. Stresses the crucial role of cyber- security for banking services and the need to incentivise financial institutions to be very ambitious in protecting consumer data and guaranteeing cyber-security;
Amendment 252 #
Motion for a resolution
Paragraph 10 d (new)
Paragraph 10 d (new)
10d. Is concerned with the massive size of the shadow banking in the European Union that amounted to EUR 40 trillion of total assets at the end of the fourth quarter of 2016 and EUR 31 trillion of total assets in the euro area at the same date; recognises, however, that since the financial crisis, policies have been introduced to address financial instability risks resulting from the shadow banking; encourages authorities to continue to vigilantly monitor and address emerging financial stability risks and to expand regulation to all banking activities;
Amendment 264 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Is concerned about the high number of legal applications lodged before the General Court of the EU in relation to the Banco Popular Español S.A. case; asks the Commission to assess whether this could endanger the effectiveness of the new resolution regime; calls on the SRB and the Commission to provide the needed information for the correct assessment of Banco Popular resolution process and asks for more transparency in future resolution decisions;
Amendment 270 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that, while theIs concerned about the mismatch between state aid rules and Union legislation as expressed in the previous report5 related to the ability of deposit guarantee schemes (DGSs) to participate in resolution as provided for in the BRRD and DGSD, the 2017 banking cases brought to light other areas of mismatch, in particular the possibility for Member States to avoid being subject to the discipline of the BRRD by paying ‘liquidation aid’; _________________ 5 European Parliament, Resolution of 15 February 2017 on ‘Banking Union – Annual Report 2016’, paragraph 38.
Amendment 285 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Commission to undertake as soon as possible the review referred to in the last subparagraph of Article 32(4) of the BRRD, taking into account the interplay between the new resolution regime and the 2013 Banking Communication, in order to draw lessons from the 2017 banking casesof the State Aid rules as established in the 2013 Banking Communication, in order to better align them with the provisions under the BRRD and the DGSD;
Amendment 318 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes the ongoing technical work by the Council on a common fiscal backstop forto the Single Resolution Fund (SRF); calls for its swift operationalization; acknowledges the Commission's work with regard to a credit line from the European Stability Mechanism; calls for the timely presentation by the Commission of a proposal to transform the European Stability Mechanism into a European Treasury;
Amendment 374 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes the potential benefits and the likelysome potential risks related to the introduction of an EDIS; considers, therefore,recalls that risk reduction measures to be essential building blocks laying the foundations for an EDIS; are already widely addressed within the Banking Union with the establishment of the Single Supervisory Mechanism, the Single Resolution Mechanism, the single rule book and the risk reduction package proposed by the Commission in 2015; acknowledges, nonetheless, the need to assess that all Member States have transposed and comply with the DGSD, the Banking regulation and the BRRD;