18 Amendments of Kostas CHRYSOGONOS related to 2017/0232(COD)
Amendment 9 #
Proposal for a regulation
Recital 3
Recital 3
(3) The broad membership of the General Board of the ESRB is a major asset. Recent developments in the financial supervisory architecture of the Union, and in particular the set-up of a Banking Union, are however not reflected in the composition of that General Board. For that reason, the Chair of the Supervisory Board of the ECB and the Chair of the Single Resolution Board should become members with voting rights should be taken into account also regarding the composition of theat General Board of the ESRB. Corresponding adjustments should also be made to the Steering Committee and to the Advisory Technical Committee, respectively.
Amendment 11 #
Proposal for a regulation
Recital 4
Recital 4
(4) The ECB President has chaired the ESRB for the first 5 years of its existence, after which the ECB President has continued to chair the ESRB on an interim basis. During that period, the ECB President has conferred authority and credibility toA close cooperation between the ESRCB and ensured that the ESRB can effectively build and rely on the expertise of the ECB in the area of financial stability. It is therefore appropriate that the ECB President chairs the ESRB on a permanent basid the development of information flows are necessary, as they improve the ESRB’s ability to effectively identify, analyse and monitor EU-wide systemic risks.
Amendment 13 #
Proposal for a regulation
Recital 5
Recital 5
(5) The accountability, transparency and independence of the ESRB should be fully ensured and guaranteed. The enhancement of the ESRB's autonomy and of its visibility is necessary. This could be achieved by setting up the ESRB as an independent, reliable macro- prudential authority. To strengthen the visibility of the ESRB as a body that is separate from its individual members, the Chair of the ESRB should be able to delegate tasks related to the external representation of the ESRB to the head of the ESRB Secretariat.
Amendment 15 #
Proposal for a regulation
Recital 6
Recital 6
(6) Article 3(2) of Council Regulation (EU) No 1096/20106 provides that the head of the Secretariat of the ESRB is to be appointed by the ECB, in consultation with the General Board of the ESRB. To raise the profile of the head of Secretariat of the ESRB, the General Board of the ESRB should assess, in an open and transparent procedure, whether the shortlisted candidates for the position of head of Secretariat of the ESRB possess the qualities and experience necessary to manage the ESRB Secretariat. The General Board should inform the European Parliament and the Council about the assessment procedure. Furthermore, the tasks of the head of the ESRB Secretariat should be clarifiedsufficiently explained and clarified. The European Parliament and the Council may ask the General Board for additional information. _________________ 6 Council Regulation (EU) NO 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board (OJ L 331, 15.12.2010, p. 162).
Amendment 19 #
Proposal for a regulation
Recital 10
Recital 10
(10) Article 16(3) of Regulation (EU) No 1092/2010 requires that the ESRB warnings and recommendations are transmitted to the Council and the Commission and, where addressed to one or more national supervisory authorities, to the ESAs. To strengthen democratic control and transparency, those warnings and recommendations should also be transmitted without delay to the European Parliament and to the ESAs.
Amendment 20 #
Proposal for a regulation
Recital 11
Recital 11
(11) To ensure the quality and relevance of the ESRB opinions, recommendations and decisions, the Advisory Technical Committee and Advisory Scientific Committee are expected to consult stakeholders, where appropriate, at an early stage and in an open, pluralistic and transparent manner. The results of these consultations should be seriously taken into account.
Amendment 22 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 1092/2010
Article 4 – paragraph 2 a
Article 4 – paragraph 2 a
2a. When consulted on the appointment of the head of Secretariat of the ESRB in accordance with Article 3(2) of Council Regulation (EU) No 1096/2010*, the General Board, following an open and transparent procedure, shall assess whether the shortlisted candidates for the position of head of Secretariat of the ESRB possess the qualities and experience necessary to manage the ESRB Secretariat. The General Board shall inform the European Parliament and the Council about the consultation procedure. The General Board shall sufficiently inform the European Parliament and the Council about the assessment and consultation procedure. The European Parliament and the Council may ask the General Board for additional information.
Amendment 24 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 1092/2010
Article 4 – paragraph 3 a
Article 4 – paragraph 3 a
3a. When giving directions to the head of Secretariat of the ESRB in accordance with Article 4(1) of Council Regulation (EU) No 1096/2010, the ESRB Chair and the Steering Committee may in particular address in a transparent manner the following:
Amendment 26 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Regulation (EU) No 1092/2010
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The first Vice-Chair shall be elected by and from the members of the General Council of the ECBnominated in a transparent manner by agreement between the Heads of State and Government of the Eurozone countries and in consultation with the European Parliament for a term of 5 years, with regard to the need for a balanced and effective representation of Member States overall, and between those which are participating Member States as defined in Article 2(1) of Council Regulation (EU) No 1024/2013**, and those which are not. The first Vice- Chair may be re-elected once.
Amendment 30 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point a – point i – introductory part
Article 1 – paragraph 1 – point 3 – point a – point i – introductory part
(i) the following points (fa) and (fb) areis inserted:
Amendment 31 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point a – point i
Article 1 – paragraph 1 – point 3 – point a – point i
Regulation (EU) No 1092/2010
Article 6 – paragraph 1 – point (i)
Article 6 – paragraph 1 – point (i)
Amendment 35 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point i
Article 1 – paragraph 1 – point 5 – point a – point i
Regulation (EU) No 1092/2010
Article 11 – paragraph 1 – point c
Article 11 – paragraph 1 – point c
(i) point (c) is replaced by the following: “(c) four other members of the General Board who arecould also be members of the General Council of the ECB, with regard to the need for a balanced representation of Member States overall, and between those which are participating Member States as defined in Article 2(1) Regulation (EU) No 1024/2013 and those which are not. They shall be elected by and from among the members of the General Board who are also members of the General Council of the ECB, for a period of 3 years;”
Amendment 36 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point i
Article 1 – paragraph 1 – point 5 – point a – point i
Regulation (EU) No 1092/2010
Article 11 – paragraph 1 c
Article 11 – paragraph 1 c
(c) four other members of the General Board who aremay also be members of the General Council of the ECB, with regard to the need for a balanced representation of Member States overall, and between those which are participating Member States as defined in Article 2(1) Regulation (EU) No 1024/2013 and those which are not. They shall be elected by and from among the members of the General Board who are also members of the General Council of the ECB, for a period of 3 years;;
Amendment 38 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point a
Article 1 – paragraph 1 – point 6 – point a
Regulation (EU) No 1092/2010
Article 12 – paragraph 5
Article 12 – paragraph 5
5. Where appropriate, the Advisory Scientific Committee shall organise consultations with stakeholders at an early stage and in an open, pluralistic and transparent manner, while taking into account the requirement of confidentiality.;
Amendment 39 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a – point ii – introductory part
Article 1 – paragraph 1 – point 7 – point a – point ii – introductory part
(ii) the following points (fa) and (fb) areis inserted:
Amendment 40 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a – point ii
Article 1 – paragraph 1 – point 7 – point a – point ii
Regulation (EU) No 1092/2010
Article 13 – paragraph 1 (ii)
Article 13 – paragraph 1 (ii)
Amendment 42 #
Proposal for a regulation
Article 1 – paragraph 1 – point 8 – point a
Article 1 – paragraph 1 – point 8 – point a
Regulation (EU) No 1092/2010
Article 16 – paragraph 2 a
Article 16 – paragraph 2 a
Warnings or recommendations issued by the ESRB in accordance with points (c) and (d) of Article 3(2) may be of either a general or a specific nature and shall be addressed in particular to the Union, to one or more Member States, to one or more of the ESAs or to one or more of the national competent authorities, or to the ECB for the tasks conferred to the ECB in accordance with Articles 4(1), 4(2) and 5(2) of Regulation (EU) No 1024/2013. These warning and recommendations shall be sufficiently detailed and reasoned;
Amendment 44 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Regulation (EU) No 1092/2010
Article 17 – paragraph 1
Article 17 – paragraph 1
1. If a recommendation referred to in Article 3(2)(d) is addressed to the Commission, to one or more Member States, to one or more ESAs, or to one or more national competent authorities, the addressees shall communicate detailed and sufficient information without delay to the European Parliament, the Council and to the ESRB on the actions undertaken in response to the recommendation and shall substantiate any inaction. Where relevant, the ESRB shall, subject to strict rules of confidentiality, inform sufficiently the ESAs of the answers received without delay.”; The rule of law, the fundamental rights, as well as the principle of the state sovereignty principle shall be fully respected.