Activities of Johan VAN OVERTVELDT related to 2015/0270(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 806/2014 in order to establish a European Deposit Insurance Scheme
Amendments (41)
Amendment 75 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 806/2014
Article 1 – paragraph 2 – subparagraph 1 – introductory part
Article 1 – paragraph 2 – subparagraph 1 – introductory part
2. In addition, this Regulation establishes a European Deposit Insurance Scheme ('EDIS') in three successive stagesproviding liquidity support:
Amendment 79 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 806/2014
Article 1 – paragraph2 – subparagraph 1 – indent 1
Article 1 – paragraph2 – subparagraph 1 – indent 1
Amendment 85 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 806/2014
Article 1 – paragraph 2 – subparagraph 1 – indent 2
Article 1 – paragraph 2 – subparagraph 1 – indent 2
Amendment 90 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 806/2014
Article 1 – paragraph2 – subparagraph 1 – indent 3
Article 1 – paragraph2 – subparagraph 1 – indent 3
Amendment 114 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 –point a
Article 1 – paragraph 1 – point 4 –point a
Regulation (EU) No 806/2014
Article 3 – paragraph 1 – point 57
Article 3 – paragraph 1 – point 57
(57) 'available financial means of the DIF' means cash, deposits and low-risk assets which can be liquidated within a period not exceeding that referred to in Article 8(1) of the Directive 2014/49/EU. The Commission shall establish the meaning of 'low-risk assets';
Amendment 122 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part IIa –title I – chapter I –title
Part IIa –title I – chapter I –title
Chapter 1 Reinsurance
Amendment 123 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 a –title
Article 41 a –title
Article 41a Partial funding and excess loss coverLiquidity support
Amendment 126 #
Article 1 – paragraph 1 – point 10 Proposal for a regulation
2. In caswhere a participating DGS encounters a payout event or is used in resolution in accordance with Article 79 of this Regulation, it may claim funding from the DIF of up to 20% offor its liquidity shortfall as set out in Article 41b. The share of liquidity shortfall coverage a participating DGS may claim from the DIF is set out in paragraph 2a.
Amendment 131 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 a – paragraph 3
Article 41 a – paragraph 3
Amendment 137 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 a – paragraph 4
Article 41 a – paragraph 4
4. Neither the funding nor the excess loss coverThe liquidity support shall not exceed the lower of 20%of the initialone thirdof the target level of the DIF as set out in Article 74b(1) of this Regulation and 105 times the target level of the participating DGS as defined in the first subparagraph of Article 10(2) of Directive 2014/49/EU.
Amendment 138 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 a – paragraph 4 a (new)
Article 41 a – paragraph 4 a (new)
4a. The Member State in which the DGS is registered shall be held liable for the rest of the liquidity shortfall of the DGS concerned, when the liquidity shortfall exceeds the limits set out in paragraph 4 of this Article.
Amendment 143 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 b – paragraph 2 a (new)
Article 41 b – paragraph 2 a (new)
2a. Deposits referred to in Article 6(2) of Directive 2014/49/EU shall be excluded from the calculation of the liquidity shortfall as determined in paragraph 1 and 2. The DIF shall not provide funding for measures referred to in Article 11(3) and (6) of Directive 2014/49/EU.
Amendment 147 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 c –title
Article 41 c –title
Amendment 150 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part II a –title I – chapter 2
Part II a –title I – chapter 2
Amendment 170 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part II a –title I – chapter 3 –title
Part II a –title I – chapter 3 –title
Amendment 176 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part II a –title I – chapter 4 –title
Part II a –title I – chapter 4 –title
Chapter 4 Common provisionsnditions for coverage
Amendment 179 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation No 806/2014
Article 41 i – paragraph 1 – introductory part
Article 41 i – paragraph 1 – introductory part
1. A participating DGS shall not be covered by EDIS in the reinsurance, co- insurance or full insurance phase, if the Commission, acting on its own initiative or upon a request of the Board or a participating Member State, decides and informs the Board accordingly, the DGS, the designated authority of the participating Member State within the meaning of point 18 of Article 2 of Directive 2014/49/EU, and the national competent authority or authorities,that at least one of the following disqualifying conditions is met::
Amendment 180 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 4 1i – paragraph 1 – point a
Article 4 1i – paragraph 1 – point a
(a) the participating DGS has failed to comply with the obligations under this Regulation or under Articles 4, 5, 6, 7, 8or 10 of Directive 2014/49/EU;;
Amendment 181 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 i – paragraph 1 a (new)
Article 41 i – paragraph 1 a (new)
1a. The Board shall monitor compliance with the provisions set out in paragraph 1 (a) and (b) on a continuous basis. If the Board identifies instances of non-compliance with any of the obligations under paragraph 1 (a) and (b), it shall immediately inform the Commission thereof.
Amendment 182 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 i – paragraph 1 b (new)
Article 41 i – paragraph 1 b (new)
1b. If the Commission considers that at least one of the disqualifying conditions is met, it shall deliver a letter of formal notice to the DGS concerned and to the designated authority of the participating Member State within the meaning of point 18 of Article 2 of Directive 2014/49/EU, as well as to the national competent authority or authorities. It shall also inform the Member State or Member States concerned. In that letter, the Commission shall set out the reasons for considering disqualifying the participating DGS from coverage by EDIS. Within two months of receipt of such formal notice, the designated authority, in close cooperation with the DGS concerned and the national competent authority, shall: (a) take prompt corrective action to address the shortcomings identified and to ensure that the disqualifying conditions are no longer met; (b) submit to the Commission a reply in which they set out in detail the corrective action they have taken.
Amendment 183 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 i – paragraph 1 c (new)
Article 41 i – paragraph 1 c (new)
1c. The Commission shall disqualify the participating DGS from coverage by EDIS in accordance with paragraph 1, where it, having assessed the corrective action taken and consulted with the Board, considers that the DGS or the designated national authority remain non-compliant.
Amendment 185 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 i – paragraph 2
Article 41 i – paragraph 2
2. When funding has already been obtained by a participating DGS and at least one of the disqualifying conditions referred to in paragraph 1 is met in relation to a payout event or a use in resolution, the Commission mayorder full or partial repayment of the funding to the DIFshall immediatelyorder full repayment of the funding to the DIF within two years. The Member State in which the participating DGS is registered shall be held liable for full repayment, if, within the time limit set out in the first subparagraph, the participating DGS fails to repay in full the funding obtained.
Amendment 188 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 j – paragraph 1 – introductory part
Article 41 j – paragraph 1 – introductory part
1. A participating DGS shall only be reinsured, co-insured or fully insured by EDIS during the year following any of the dates set out below, if, by that date,insured by EDIS if its available financial means raised by contributions referred to in Article 10(1) of Directive 2014/49/EU amount to at least the following percentages0.60%of the total amount of covered deposits of all credit institutions affiliated to the participating DGS:. This is without prejudice to the first subparagraph of Article 10(2) of Directive 2014/49/EU.
Amendment 190 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 j – paragraph 2
Article 41 j – paragraph 2
2. The Commission, after consulting the Board, may approve a derogation from the requirements set out in paragraph 1 for duly justified reasons linked to the business cycle in the respective Member State, the impact pro-cyclical contributions may have, or to a payout event which occurred at national levelonly where, at national level, a participating DGS has encountered a payout event or has been used in resolution in accordance with Article 109 of Directive 2014/59/EU or Article 79 of this Regulation. Thoseis derogations must be tempor shall last no longer than five yearys and may be subject to the fulfilment of certain conditions.
Amendment 192 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 k – paragraph 1
Article 41 k – paragraph 1
Where a participating DGS has been informed by the competent authority about, or has otherwise become aware of, circumstances relating to a credit institution affiliated to that participating DGS that are likely to result in a payout event or its use in resolution proceedings, it shall inform the Board about such circumstances without delay if it intends to request coverage by EDIS. In this case the participating DGS shall also provide the Board with an estimate of the expected liquidity shortfall or liquidity need.
Amendment 194 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 l – paragraph 1
Article 41 l – paragraph 1
1. In case a participating DGS encounters a payout event or is used in resolution in accordance with Article 109 of Directive 2014/59/EU or Article 79 of this Regulation, it shall immediately notify the Board and submit all necessary information in order to allow the Board to assess whether the conditions for the provision of funding and loss cover in accordance with Article 41a, 41d and 41h ofthis Regulation are met.
Amendment 202 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 n – paragraph 1 – introductory part
Article 41 n – paragraph 1 – introductory part
The Board shall provide funding under Articles 41a(2), 41d(2) and 41h(2) in accordance with the following provisions:
Amendment 205 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 n – paragraph 1 – point b a (new)
Article 41 n – paragraph 1 – point b a (new)
(ba) within 3 months of the determination referred to in Article 41m, the Board shall establish a repayment plan that ensures that the funding provided by the Board under Article 41n will be repaid in full within five years by the participating DGS.
Amendment 206 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o –title
Article 41 o –title
Article 41o Repayment of funding and determination of excess loss and loss
Amendment 209 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 1
Article 41 o – paragraph 1
1. The participating DGS shall repay , according to a repayment plan,repay in fullthe funding provided by the Board under Article 41n, less the amount of any excess loss cover in case of coverage under Article 41a or any loss cover in case of coverage under Article 41d or. The repayment plan shall also establish the refunding path for the participating DGS to return to its target level as set out in Article 41hj.
Amendment 216 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 3
Article 41 o – paragraph 3
3. In case of coverage under Article 41a,tThe participating DGS shall also pay to the Board, by the end of the first calendar year after the funding was provided, an amount equal to the ex-post contributions that the participating DGS may raise within one calendar year in accordance with the first sentence of the first subparagraph of Article 10(8) of Directive 2014/49/EU, less the amount of ex-post contributions it raised in accordance with point (b) of Article 41b(1) of this Regulation. This amount of ex-post contributions to be paid to the Board by the participating DGS by the end of the first calendar year after the funding was provided shall not exceed the liquidity shortfall as set out in Article 41b.
Amendment 217 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 3 a (new)
Article 41 o – paragraph 3 a (new)
3a. The Member State in which the participating DGS is registered shall be held liable for full repayment, if the participating DGS fails to repay in full the funding obtained within the time limit set out in point (b a) of Article 41n.
Amendment 218 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 4
Article 41 o – paragraph 4
Amendment 235 #
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 50 a – paragraph 1 –point a
Article 50 a – paragraph 1 –point a
(a) once the net accumulated use of the DIF in the last consecutive 12 months reaches the threshold of 25% of the final target level, evaluate evaluate, an annual basis,the application of EDIS, in particular the use of the DIF, and provide guidance which the executive session shall follow in subsequent payout decisions, in particular, if appropriate, differentiating between the provision of funding and loss cover;
Amendment 241 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 1
Article 74 a – paragraph 1
1. The DIF is hereby established. It shall be filled by risk-based contributions owed to the Board by credit institutions affiliated to participating DGSs. The risk-based contributions shall be calculated and invoiced, on behalf of the Board, by participating DGSs by the Board.
Amendment 244 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 1 a (new)
Article 74 a – paragraph 1 a (new)
1a. The risk-based contributions to be paid by credit institutions to participating DGSs shall be calculated and invoiced by the participating DGSs.
Amendment 259 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 1
Article 74 c – paragraph 1
1. Each year during the reinsurance and co-insurance period, the Board shall, after consulting the ECB and the national competent authority and in close cooperation with the participating DGSs and designated authorities, determine for each participating DGS the total amount of ex-ante contributions that it may claim from the credit institutions affiliated to the respective participating DGS in order to reach or maintainthe target levels provided for in Article 74b. The total amount of contributions shall not exceed the target levels provided for in Article 74b (1) and (2).
Amendment 265 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 4 –subparagraph 1
Article 74 c – paragraph 4 –subparagraph 1
Amendment 284 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – point f a (new)
Article 74 c – paragraph 5 –subparagraph 4 – point f a (new)
(fa) the level and diversification of exposure to sovereign debt by credit institutions affiliated to a participating DGS.
Amendment 305 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 g – paragraph 3
Article 74 g – paragraph 3
3. Any expenses incurred by the use of the borrowings specified in paragraph 1 shall be borne by Part III of the budget of the Board and not by the Union budget or the participating Member Statesthe DGS concerned.
Amendment 319 #
Proposal for a regulation
Article 1 – paragraph 1 – point 40
Article 1 – paragraph 1 – point 40
Regulation (EU) No 806/2014
Article 99 – paragraph 5 a
Article 99 – paragraph 5 a
5a. By way of derogation from paragraph 2, Article 1(2), Part IIa and Part III, Title V Chapter 2 Section 1a shall apply from [OP insertthe date of entry into force of this Regulation]e Directive on accelerated extrajudicial collateral enforcement mechanism;