23 Amendments of Olivier CHASTEL related to 2020/2122(INI)
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 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 180 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes the postponement of the implementation of the Basel III reforms and awaits the Commission’s upcoming proposal on the implementation of the finalised standards, taking into account the specificities of the EU banking sector; stresses the concern that the reform should not hamper EU banks’ ability to finance the recovery, and the digital and environmental transition in Europe; underlines that in order to uphold its economic sovereignty and strategic autonomy, the EU needs strong and competitive European banks to offer wholesale banking services to corporates of all sizes;
Amendment 193 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies and calls on all institutions and bodies to prioritise achieving full gender balance as soon as possible, including through providing gender balanced shortlists of candidates for all future appointments requiring Parliament's consent, including the ECB and the EU's top financial institutions;
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 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 249 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefits of banking consolidation, including across borders, in addressing the overcapacities and fragmentation of the banking sector;
Amendment 254 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Regrets that the home host issue remains a challenge; is concerned that if the level of NPLs rises as public support measures begin to recede, home and host countries may put in place measures to protect assets and proceed with renewed ring-fencing; stresses that banks need to be able to operate across borders while managing their capital and liquidity at a consolidated level, in order to diversify their risks and address any lack of profitability; believes that this is essential to enable European banks to provide competitive services to European consumers and businesses and to ensure a dynamic and robust European banking sector; considers that gradual harmonisation is required in areas where national options and discretions apply, including in the area of insolvency law; ;
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 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 336 #
33. Considers it necessary to make resolution work for more banks, which requires reviewing the public interest assessment in order to allow resolution tools to be applied to a broader group of banks;
Amendment 340 #
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Calls for enhancing the use of deposit book transfer strategies in resolution to handle failures of all kinds of banks, by enhancing their access to funding in resolution subject to market- exit after implementing the transfer; finds merit in increasing the role of DGS to enable such transfer strategies within resolution, for example using the DGS to bridge the gap between the 8% bail-in prerequisite to access the resolution fund and the bank’s actual loss-absorbing capacity excluding deposits that are meant to be transferred;
Amendment 342 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Supports the idea of considering the role of group recovery and resolution plans in the crisis management framework, such that the calibration of MREL and banks’ contributions to the various safety nets would be truly risk-based, reflecting the likelihood and magnitude of the use of these safety nets under the preferred crisis management strategy;
Amendment 343 #
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34 a. Considers it necessary to align the incentives attached to the use of various existing crisis management tools, to prevent arbitrage between preventive action, resolution and liquidation; notes that it would require imposing the same burden sharing conditions in preventive interventions as in precautionary recapitalisations, since both types of tools aim at preventing the failure of a bank, and aligning burden sharing in liquidation and resolution for the granting of external funding;
Amendment 345 #
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34 b. Calls on the Commission to align the state aid framework with the reviewed CMDI framework, with a view to enforcing the necessary alignment of incentives across crisis management methods, inside and outside resolution;
Amendment 366 #
Motion for a resolution
Paragraph 36
Paragraph 36
36. Notes the Commission’s launch of the review of the CMDI framework, including the option of a hybrid EDISas well as the option of a hybrid EDIS; calls for the conclusion of the CMDI review first in order to pave the way for an agreement on EDIS, stressing that EDIS should anyway not finance preventive or alternative measures, only pay-outs in insolvency;