Activities of Thomas MANN related to 2018/2100(INI)
Shadow reports (1)
REPORT on Banking Union – annual report 2018 PDF (435 KB) DOC (53 KB)
Amendments (25)
Amendment 6 #
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
– having regard to the Commission report of 11 October 2017 on the Single Supervisory Mechanism (SSM) under Regulation (EU) No 1024/2013,
Amendment 7 #
Motion for a resolution
Citation 11 b (new)
Citation 11 b (new)
– having regard to the proposals to amend Regulation (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 (CRR) and Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (CRD IV),
Amendment 8 #
Motion for a resolution
Citation 11 c (new)
Citation 11 c (new)
– having regard to the opinion of the European Central Bank of 8 November 2017 on amendments to the Union framework for capital requirements of credit institutions and investment firms (CON/2017/46),
Amendment 9 #
Motion for a resolution
Citation 11 d (new)
Citation 11 d (new)
– having regard to the ESRB report on Financial Stability Implications of IFRS of 9 July 2017,
Amendment 10 #
Motion for a resolution
Citation 11 e (new)
Citation 11 e (new)
– having regard to the Council conclusions of 17 July 2017 on the action plan to reduce non-performing loans in Europe,
Amendment 12 #
Motion for a resolution
Recital A
Recital A
A. whereas entrusting the ECB with the supervision of financial institutions has proven to be successful; whereas, in its supervisory activities, the ECB has sovereignty, but whereas far-reaching decisions must be left to the European legislator; whereas, in its supervisory activities, the ECB is not yet taking sufficient account of the principle of proportionality;
Amendment 24 #
Motion for a resolution
Recital B
Recital B
B. whereas the role of the EBA needs to be significantly strengthened in order to effectively implement and monitor anti- money laundering measures;
Amendment 33 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the number and ratios of non-performing loans (NPLs) still vary substantially between Member States;
Amendment 45 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses the importance of completing the capital markets union, which will help to channel credit into the real economy, further enable private risk sharing and complement funding through banks; stresses the importance of completing the capital markets union and building a true single capital market in the EU where investors can freely invest their money across borders and companies can raise the necessary funds from a wide range of sources in order to contribute to better financing of the real economy, allow further private risk- sharing and complement funding by banks;
Amendment 51 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that one of the aims of the Banking Union should be to preserve 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; stresses, in this connection, the importance of the proportionality principle as a way of avoiding penalising in particular smaller banks in the implementation of regulatory provisions;
Amendment 65 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Takes note of the ECB’s recent ‘failing or likely to fail’ assessments, carried out in 2018; stresses the need to improve the response times of European banking supervision, as shown by the case of a Latvian bank in March 2018; is deeply concerned that some of these cases raised issues concerning the enforcement of anti-money laundering rules in the Banking Union; underlines the urgent need for a common EU approach in this regard with clearly assigned powers;
Amendment 79 #
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; points, in this regard, to the need for a high level of transparency with regard to the results of the stress tests and in order to prevent possible distortions;
Amendment 95 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the Commission proposal to reinforce the role of the EBA in anti-money laundering supervision in the financial sector; calls on the co-legislators adopt the proposal without undue delay; welcomes the Commission’s proposal, as announced by Jean-Claude Juncker in his State of the Union address on 12 September 2018 to the European Parliament, to strengthen the role of the EBA in the fight against money laundering in the financial sector; calls on the co-legislators to adopt this proposal without undue delay;
Amendment 98 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Remains concerned about recent cases of money laundering at European banks and calls for national financial supervisory authorities to be strengthened and for more effective cooperation;
Amendment 99 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines the fact that financial markets are strongly interrelated; stresses the importance of preparedness of banking supervisors for all possible outcomes in the Brexit negotiations between the EU-27 and the United Kingdom, bearing in mind that this is not a substitute for preparedness of private actors themselves; calls on the Commission and supervisory authorities to perform a comprehensive analysis of the impact of Brexit;
Amendment 105 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Is concerned that the costs arising from prudential requirements impose a disproportionate burden on small banks; considers that the ECB still needs to take even better account of the proportionality principle;
Amendment 108 #
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; welcomes the reduction in volume of NPLs to EUR 713 billion over the past years; reiterates its concern that the total number, and proportion, of non-performing loans remains above average in some Member States; stresses, at the same time, that, according to the EBA Risk Dashboard, the NPL ratio in the EU is falling slowly but still remains too high at 3.6 % in June 2018; stresses that the Banking Union, while making progress in tackling non- performing loans (NPLs), is still lagging behind in global terms when compared with countries such as the US and Japan; stresses that the risk to financial stability posed by NPLs is still significant; agrees with the Commission that the primary responsibility for reducing NPLs lies with the Member States, notably through efficient insolvency laws, and banks themselves;
Amendment 121 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes note of the on-going negotiations on the European System of Financial Supervision (ESFS); believes that a single market needs appropriate supervisory powers at EU level; stresses that the core task of the ESFS is to ensure effective supervisory action;
Amendment 125 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the Commission communication on FinTech; recognises the great potential of FinTech and the need to encourage innovation; notes, however, the need for clear regulation and appropriate supervision that protects consumers and ensures financial stability as well as a level playing field for financial market actors; underlines the need to continuously strengthen the cyber resilience of the EU financial sectorconsiders that FinTech, which carries out the same kinds of activities as other players in the financial system, should therefore be subject to the same operating rules; acknowledges that the increased digitalisation of all aspects of banking has left banks significantly more vulnerable to cyber security risks; stresses that cyber security is first and foremost banks’ own responsibility; underlines the need to continuously strengthen the cyber resilience of the EU financial sector; calls for more comprehensive monitoring of cyber security measures by supervisory authorities;
Amendment 134 #
17. Recalls the initial debate on the role of the ECB as both monetary and supervisory authority; considers that, overall, the ECB has succeeded in keeping the two roles separate; believes, however, that further debate is necessary to avoid the risk of a conflict of interests between the two tasks; stresses the importance of the cooperation between the EBA as a regulatory authority and the SSM as a supervisory authority;
Amendment 147 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Welcomes the agreement reached at the Euro Summit meeting ofon 29 June 2018 that the European Stability Mechanism (ESM) will provide the common backstop to the Single Resolution Fund (SRF) and be turned into a truecome a fully-fledged European Monetary Fund (EMF), based on strict conditions, with a view to ensuring responsiaccountability and the principle of avoiding moral hazard prevention, ensuring the protection of public funds, protecting client funds and assets as well as covered depositors and safeguarding the principle that taxpayers are not liable for banking risks; stresses the need for proper democratic scrutiny; recalls Parliament’s position that the EMF should be fully incorporated into the Union's institutional framework;
Amendment 160 #
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 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 that the rules on the resolution of credit institutions need to be even better applied;
Amendment 162 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Calls on the Commission to assess the recovery and resolution of credit institutions in the light of state aid rules; calls on the Commission to examine regulation in the light of the Bank Recovery and Resolution Directive; calls on the Commission to propose transparent application of the rules on state aid in relation to the BRRD;
Amendment 170 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the conclusion of the ECA, in its report on the operational efficiency of the ECB’s crisis management for banks, that the organisational set-up of the ECB and its resourcing for the assessment of recovery plans and the supervision of banks in crisis are satisfactory, while noting that there are outstanding issues concerning information sharing and efficiency of coordination; recalls that cooperation and exchange of information between authorities are essential for the smooth implementation of resolution measures;
Amendment 174 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Takes note of the agreement reached at the Euro Summit meeting of 29 June 2018 on the European Deposit Insurance Scheme (EDIS); underlines the necessity of EDIS as the third pillar of the Banking Union; believes it should be fully implemented once significant risk reduction has taken place; notes that discussions have yet to be held on the appropriate legal basis for the establishment of EDIS; stresses the need to reduce risks in some Member States and their banks as a prerequisite for the introduction of EDIS;