Activities of Marianne THYSSEN related to 2013/0253(COD)
Plenary speeches (1)
Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (debate)
Amendments (16)
Amendment 164 #
Proposal for a regulation
Recital 34
Recital 34
(34) It is important that losses be recognised upon failure of the institution. The guiding principle for the valuation of assets and liabilities of failing institutions should be their market value at the moment when the resolution tools are applied and to the extent that markets are functioning properefficiently. When markets are truly dysfunctional, valuation should be performed at the duly justified long term economic value of assets and liabilities. It should be possible, for reasons of urgency, that the Board makes a rapid provisional valuation of the assets or liabilities of a failing institution which should apply until an independent valuation is carried out.
Amendment 305 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. No decision of the Board or the Commission shall require Member States to provide extraordinary public financial support. unless approved by a Member State in accordance with its national budgetary procedures. Member States shall establish a procedure for deciding on approval within five days of approval being requested by the Board or the Commission. Where a Member State has not agreed to provision of this support, it shall, within the same period, submit a proposal for the winding up of the entity and, where applicable, the group, at minimal cost. Where the Board takes the view that the alternative proposal submitted is not in accordance with this Regulation, national insolvency law shall apply.
Amendment 520 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. Where the ECB or a national resolution authoritycompetent national authority, as defined in [Article 2(20) BRRD] assesses that the conditions referred to in points (a) and (b) of paragraph 2 are met in relation to an entity referred to in Article 2, it shall communicate that assessment without delay to the Commission and the Board.
Amendment 532 #
Proposal for a regulation
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2a. Where the Board conducts such an assessment on its own initiative, compliance with the conditions referred to in points (a) and (b) of paragraph 2 in relation to an entity referred to in Article 2 shall be evaluated in close consultation and cooperation with the ECB or the competent national authority.
Amendment 541 #
Proposal for a regulation
Article 16 – paragraph 5 – introductory part
Article 16 – paragraph 5 – introductory part
5. IfWhere it judges that all the conditions established in paragraph 2 are met, the Board shall recommend to the Commission that the entity be placed under resolution. The recommendation shall include at least the following:
Amendment 551 #
Proposal for a regulation
Article 16 – paragraph 6
Article 16 – paragraph 6
6. Having regard to the urgency of the circumstances in the case, the Commission shall decide, On the basis of the Board's recommendation referred to in paragraph 5 and, where applicable, taking into account the communication referred to in paragraph 1, the Commission shall establish whether the con dits own initiative or taking into account, if any, the communicaions referred to in point (c) of paragraph 2 have been met and shall, on this basis, decide whether or not to place the entity under resolution. With regard to the conditions referred to in paragraph 1 or the recommendation of the Board referred to in paragraph 5, whether or not to place the entity under resolution, andoints (a) and (b) of paragraph 2, the Commission shall participate in the assessment thereof by the Board and, where applicable, the ECB or the competent national authority under paragraph 1. On the basis of the Board's recommendation referred to in paragraph 5, the Commission shall then decide on the framework of the resolution tools that shall be applied in respect of the entity concerned and the framework of the use of the Fund to support the resolution action. TIf the Commission, on its own initiative, may decide to place an entity under resolution if all the conditions referred to in paragraph 2 are met. intends to reject or adopt in amended form the Board's recommendation, it shall return the recommendation to the Board, indicating its reasons for rejecting it or the reasons for its proposed amendments, as the case may be. The Commission may set a deadline for the Board to amend its original recommendation in the light of the Commission's proposed amendments and once more submit it to the Commission. If, on expiry of the deadline set by the Commission, the Board has tabled no amended recommendation or has tabled an amended recommendation that does not correspond to the Commission's proposed amendments, the Commission may take its decision under the first part of of paragraph 6 with the amendments it judges relevant, or reject the recommendation. Except in duly motivated urgent situations, the Board shall have at least five working days to consider the Commission's proposed amendments. On receipt of the communication referred to in paragraph 1, the Commission may set a deadline for submission by the Board of a recommendation as referred to in paragraph 5. If the Board does not submit a recommendation within this period, the Commission may decide on its own initiative under the first part of paragraph 6.
Amendment 725 #
Proposal for a regulation
Article 27 – paragraph 6
Article 27 – paragraph 6
6. The Board shall co-operate closely with the European Financial Stability Facility (EFSF) and, the European Stability Mechanism (ESM) and any similar European entity in future, in particular where the EFSF or, the ESM or any similar European entity in future, have granted or are likely to grant, direct or indirect financial assistance to entities established in a participating Member State, in particular in those extraordinary circumstances referred to in Article 24(9).
Amendment 751 #
Proposal for a regulation
Article 39 – paragraph 1 – point a
Article 39 – paragraph 1 – point a
(a) the Executive Director with voting rights;
Amendment 755 #
Proposal for a regulation
Article 39 – paragraph 1 – point b
Article 39 – paragraph 1 – point b
(b) thewo Deputy Executive Directors with voting rights;
Amendment 766 #
Proposal for a regulation
Article 39 – paragraph 1 – point c
Article 39 – paragraph 1 – point c
(c) a member appointed by the Commission with voting rights;
Amendment 774 #
Proposal for a regulation
Article 39 – paragraph 1 – point d
Article 39 – paragraph 1 – point d
(d) a member appointed by the ECB without voting rights;
Amendment 783 #
Proposal for a regulation
Article 39 – paragraph 1 – point e
Article 39 – paragraph 1 – point e
(e) a member appointed by each participating Member State, representing the national resolution authority with voting rights.
Amendment 852 #
Proposal for a regulation
Article 51 – paragraph 2
Article 51 – paragraph 2
2. When deliberating on a cross-border group, the Board shall take its decisions in itsthe executive sessions by a simple majority of its participating members. The members of the Board referred to in Article 40(2) andof the Board, the members of the Board referred to in points (a), (b) and (c) of Article 39(1), the member appointed by the Member State in which the group level resolution authority is situated shall each have one vote. Tand the other participating members shall each have a voting right equal to a fraction of one vote and the number ofof the national resolution authorities of the Member States in which a subsidiary or entity covered by consolidated supervision is establishedunder consolidated supervision is situated shall do all in their power to reach a joint decision within the deadline set by the Board, taking account of the urgency of the specific matter. If no joint decision is taken under paragraph 1, the members of the Board referred to in points (a), (b) and (c) of Article 39(1) shall decide by simple majority, with each voting member having one vote. In case of a tie the Executive Director shall have a casting vote.
Amendment 863 #
Proposal for a regulation
Article 52 – paragraph 4 a (new)
Article 52 – paragraph 4 a (new)
4a. The Executive Director and two Deputy Executive Directors shall be chosen on the basis of an open selection procedure, taking account of the principle of gender balance, and the European Parliament and the Council kept duly informed.
Amendment 864 #
Proposal for a regulation
Article 52 – paragraph 5
Article 52 – paragraph 5
5. After hearing the Board, in its plenary session, the Commission shall propose a list of candidates to the CouncilThe Commission shall forward to the European Parliament committee a list of candidates for the posts of Executive Director and Deputy Executive Directors. The Commission shall forward to the European Parliament for approval its proposals for the appointment of the Executive Director and thewo Deputy Executive Directors. The Council shallOn approval of the proposals, the Council shall, by implementing decision, appoint the Executive Director and thewo Deputy Executive Director after hearing the European Parliaments.
Amendment 1036 #
Proposal for a regulation
Article 85 – paragraph 1
Article 85 – paragraph 1
From the date of application referred to in the second subparagraph of Article 88, the Fund shall be considered the resolution financing arrangement of the participating Member States under Title VII of Directive [ ] and shall replace the existing national resolution financing arrangements of the participating Member States.