Activities of Caroline NAGTEGAAL related to 2020/2122(INI)
Plenary speeches (1)
Banking Union - annual report 2020 (debate)
Shadow reports (1)
REPORT on Banking Union – annual report 2020
Amendments (23)
Amendment 58 #
Motion for a resolution
Recital F
Recital F
F. whereas prudential supervision is necessary and the fight against fraud and anti-money laundering supervision is necessarhould be a priority;
Amendment 71 #
Motion for a resolution
Recital I
Recital I
I. whereas the crisis management and deposit insurance (CMDI) framework should be proportional, more efficient and more coherent, and should contribute to financial stability, the end of implicit guarantees and the protection of taxpayers;
Amendment 83 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the entry of Bulgaria and Croatia into the Banking UnionExchange Rate Mechanism (ERM II) and therefore into the Banking Union, and stresses that participation in these schemes is inextricably linked up with prudent financial policy;
Amendment 91 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recalls that the Banking Union has delivered the institutional set-up for greater market integration, through the SSM and the SRM, while a European deposit insurance scheme (EDIS) is still lackpending;
Amendment 131 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. NotWelcomes the ‘quick fix’ to the Capital Requirements Regulation31 extending transitional arrangements in order to support banks’ lending capacity32 ; _________________ 31Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 32Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic (OJ L 204, 26.6.2020, p. 4).
Amendment 145 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for a well-orchestEmphasises the exceptional nature of a pandemic and the temporary characted shift from pandemic relief to recovery support toolr of the relief measures put in place to limit economic damage, and notes that economic support measures must remain tailored to current and expected economic circumstances;
Amendment 161 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes the accelerated pace of digitalisation in the banking sector, while pointing to theobserving an insufficient level of investment in this area; welcomes the adoption of the digital finance package by the Commission; and, in particular, the proposal for a Digital Operational Resilience Act (DORA) in order to ensure financial entities put in place the adequate safeguards to mitigate the impact of ICT related incidents;
Amendment 187 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the interdependencies between banks and central counterparties (CCPs), highlights in this regard the risks of excessive reliance on UK CCPs and welcomes the measures setting the criteria for classifying third-country CCPs adopted by the COM during the past year;
Amendment 194 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies; and asks for future appointments to be in line with the European Parliament resolution of 14 March 2019 on gender balance in EU economic and monetary affairs nominations;
Amendment 209 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that sound management of credit risk should remain thea key priority for the SSM;
Amendment 213 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short termas a result of Covid-19 health measures, and calls for the final adoption of an adequate regime to manage the increase in NPLs;
Amendment 224 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. SRecognises the role played by banks in supporting businesses and the real economy during the pandemic, and stresses that banks should diligently assess the financial soundness and viability of businesses, proactively engage with distressed debtors to manage their exposures, and offer financing and restructuring options to viable companies;
Amendment 262 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Is concerned that as Member States sell increasing amounts of sovereign bonds, their share in banks’ balance sheets grows, potentially aggravating the doom loop; considers that the creation ofhigh-quality European assets introduced by Next Generation EU will providdo not fully resolve thigh-quality European assetss issue;
Amendment 273 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that the EU-wide stress test launched on 29 January 2021 aims to test capital trajectories of banks in a situation of worsening asset quality; regrets however that the sample of 51 banks selected in the exercise is too narrow; calls on the EBA to enlarge the scope in subsequent stress test exercises; stresses that in the run-up to a possible EDIS it is all the more important to build trust by running stress tests and asset quality reviews on a rolling sample of LSIs;
Amendment 277 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. NotWelcomes the efforts of the SSM to provide guidance and clarity to banks for self-assessing and appropriately reporting environmental and climate change-related risks; considers the SSM climate risk stress test an important step in evaluating banks’ practices and identifying concrete areas of improvement;
Amendment 286 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes the EBA’s role in leading, coordinating and monitoring the EU financial sector’s fight against money laundering and terrorist financing; and looks forward to the Commission’s proposal on Anti Money Laundering regulation;
Amendment 301 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Trusts that the introduction of a backstop into the SRF earlier than originally envisaged is positive for the strengthening of the crisis management frameworkNotes the earlier introduction than originally envisaged of the backstop into the SRF;
Amendment 303 #
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Insists on holding banks solely responsible for their performance instead of letting taxpayers shoulder the burden of a crisis management framework, in particular of the new lending facility under the common backstop framework;
Amendment 316 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Considers it necessary to have in place an EU liquidation regime for more harmonised framework, avoiding limbo situations, in the handling of banks for which the SRB assesses that there is no public interest in resolution;
Amendment 320 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Recalls the important role of the SRM to provide stability and clarity for the banking sector, investors and consumers and to protect taxpayers; calls for the SRM to be used to its full potential to ensure the orderly resolution of any failing bank with minimal costs to the tax payer and the real economy; believes that if more European banks were subject to the SRM framework then the more consistent treatment of failing banks would better protect European taxpayers, improve market discipline and reduce the burden on other solvent banks and taxpayers;
Amendment 375 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36 a. Notes that steps have already been undertaken toward the direction of an EDIS, such as the harmonization of national Deposit Guarantee Schemes, guaranteeing up to 100.000 euros in banking deposits;
Amendment 378 #
Motion for a resolution
Paragraph 36 b (new)
Paragraph 36 b (new)
36 b. Notes that the possibility of inter- DGS lending already exists;
Amendment 379 #
Motion for a resolution
Paragraph 36 c (new)
Paragraph 36 c (new)
36 c. Notes that further development of an EDIS should be linked to Assets Quality Reviews and risk reduction in the banking sector;