16 Amendments of Jonás FERNÁNDEZ related to 2018/2100(INI)
Amendment 5 #
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to the ESRB EU shadow Banking Monitor N° 3/September 2018,
Amendment 30 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas participation in the Banking Union is open to Member States that have not yet adopted the euro; whereas no EU Member State has so far decided to participate on that basis;
Amendment 38 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the achievements of the Banking Union in fostering a truly single market, a level playing field, financial stability and predictability for market actors; considers that a fully completed Banking Union will further strengthen financial stability and growth prospects in the EU; recalls that the European Deposit Insurance Scheme (EDIS) remains a fundamental pillar of the Banking Union which completion is overdue; reiterates the need to finalise the common backstop to the Single Resolution Fund (SRF); stresses that EDIS and the fiscal backstop are key to ensuring a credible and efficient resolution framework and the ability to cope with systemic crisis in the Banking Union;
Amendment 55 #
3. Considers that one of the aims of the Banking Union should be to ensure financial stability while preserveing the diversity of EU banking models, as this enables the requirements of citizens and of their projects to be met, as well as acting as a diversification tool, a key feature to cope with potential shocks;
Amendment 78 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes the results of the EBA’s EU- wide stress test; believes that stress tests should be interpreted in combination with other on-going supervisory monitoring activities; calls on the SSM, EBA and ESRB to use consistent methodologies when defining the stress test in order to ensure full transparency on this procedure;
Amendment 91 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights that sovereign debt is not risk-free; tTakes note of the on-going work of the Basel Committee on Banking Supervision (BCBS) on sovereign risk; is concerned by the fact that some financial institutions are heavily invested in their own sovereign debt; calls on the Commission to assess whether to introduce risk weighting on sovereign bonds or exposure limits in the EUstresses that the EU regulatory framework on prudential treatment of sovereign debt should be consistent with international standards;
Amendment 92 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Welcomes the Commission's proposal on establishing a European safe asset for the Euro area, starting with the issuance of Sovereign Bond-backed Securities (SBBS);
Amendment 113 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Takes note of the on-going negotiations on the NPL package; welcomes the ECB addendum on NPLs and the work of the EBA on guidelines on management of non-performing and forborne exposures; wWelcomes the reduction in volume of NPLs over the past years; stresses that the risk to financial stability posed by NPLs is still significant in some jurisdictions; agrees with the Commission that the primary responsibility for reducing NPLs lies with the Member States, notably through efficient insolvency laws, and the banks themselves; takes note of the on- going negotiations on the NPL package; calls upon the negotiators to reach a swift agreement;
Amendment 116 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Reiterates the concern over the risks stemming from the holding of level II and III assets in bank's balance sheets due to the difficulty of their evaluation; calls on the SSM to address this problem urgently;
Amendment 118 #
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Is concerned at the wide use of internal models by the banking institutions; calls on the SSM and EBA to continue their work on the adequacy of using internal models in order to establish their credibility and achieve a level playing field across institutions;
Amendment 128 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Remains concerned about the spreadextent of shadow banking in the EU; recalls that at the problem needs to be addressed at both EU and global levelend of 2017 it accounted for around 40% of the EU financial system; encourages authorities to continue vigilantly monitoring the risks posed by these activities and to address them as soon as possible in order to ensure fair competition, transparency and financial stability; calls on the Commission to urgently identify remaining gaps in the current regulations;
Amendment 139 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Calls on the Commission to effectively address the "too-big-to-fail" problem in order to reduce systemic risks;
Amendment 143 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Takes note of the Resolution of Banco Popular, the first Single Resolution Board resolution case, commonly considered a “text-book like” resolution; stresses, nonetheless, that lessons need to be taken on transparency and access to and clarity of the information provided after resolution; calls upon the SRB to do a "mea culpa" exercise to avoid repeating the same faults in future cases;
Amendment 149 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Welcomes the agreement reached at the Euro Summit meeting of 29 June 2018 that the European Stability Mechanism (ESM) will provide the common backstop to the Single Resolution Fund (SRF) and be turnthat the ESM will be reformed into a true European Monetary Fund (EMF) based on strict conditions ensuring responsibility and the principle of avoiding moral hazard; stresses the need for proper democratic scrutiny; asks the EMF to be transformed into a genuine European Stability Fund (ESF) and recalls Parliament’'s position that the EMF should beo fully incorporated it into the Union's institutional framework; urges its quick adoption;
Amendment 158 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Reaffirms its position that the rules for precautionary recapitalisation need to be clarified; notes that precautionary recapitalisation can be an instrument for crisis management but believes that its use needs to be strictly limited to exceptional cases where the bank is solvent, i.e., compliant with the harmonised minimum regulatory capital levels, and where compliance with EU State aid rules is ensured; recalls that the objective of the EU resolution regime is to make sure that taxpayers are protected, the cost of bank management failures is borne by its shareholders and creditors, and that the stability of the financial system as a whole is preserved; stresses, nonetheless, that the impact on the local market financial stability and growth must be taken into consideration prior to the decision of using or not of precautionary recapitalisation measures;
Amendment 181 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Takes note of the agreement reachedUnderlines the urgency of establishing EDIS ats the Euro Summit meeting of 29 June 2018 on the European Deposit Insurance Scheme (EDIS); underlines the necessity of EDIS as the thirdthird pillar of the Banking Union; recalls that the two risk reduction pillars of the Banking Union; believes it should be fully implemented once significant risk reduction has taken place, European supervision and resolution, are already fully implemented and positively doing their job; stresses that it is now time to advance with the risk sharing pillar;