Activities of Kira Marie PETER-HANSEN 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 (25)
Amendment 70 #
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47a) The Banking Union has been at a standstill for almost a decade. While all Union institutions agree that completing the Banking Union would contribute to the European Union's financial stability and offer better services and protection to retails investors and depositors, no progress has been made on a genuine European Deposit Insurance Scheme (EDIS). To unlock the stalemate, a more staggered approach than initially foreseen and supported by most EU institutions might be warranted. This review implements a liquidity support mechanism ('EDIS I'). An European Deposit Insurance Fund (DIF) would finally be created, without any pre-condition. At a first stage, this fund, complemented by lending from national DGS, would only provide loans and liquidity support to a national DGS in need. This step is meant to be temporary and aims to ease the transition toward a loss-coverage mechanism, whereby the EU fund would provide grants to depleted DGS. Under no circumstance 'EDIS I' could be deemed the final stage of EDIS. This first stage is accompanied by a firm and unequivocal commitment to establish a fully-fledged EDIS by 2029 at the latest.
Amendment 78 #
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 stage 1 of a European Deposit Insurance Scheme ('EDIS') in three successive stages: I'): (Article 1 is replaced by the following:)
Amendment 83 #
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 1
Article 1 – paragraph 2 – subparagraph 1 – indent 1
– a reinsurance scheme that, to a certain extent, provides funding and covers a share of the losses of– to operate as a liquidityscheme that provides loans to participating deposit guarantee schemes in accordance with Article 41a;,
Amendment 88 #
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
– a co-insurance scheme that, to a gradually increasing extent, provides funding and covers losses of participating deposit guato establish a full insurantece schemes in accordance with Article 41c; with loss coverage by 2029.
Amendment 94 #
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 2
Article 1 – paragraph 2 – subparagraph 2
EDIS I shall be administered by the Board in cooperation with participating DGSs and designated authorities in accordance with Part IIa. EDIS shall be supported by a Deposit Insurance Fund (the ‘DIF’).
Amendment 95 #
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 2a (new)
Article 1 – paragraph 2 – subparagraph 2a (new)
EDIS I shall be supported by a Deposit Insurance Fund (the ‘DIF’) and when needed, by additional loans from the participating DGSs in accordance with Chapter 4 -mandatory lending."
Amendment 102 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) all credit institutions established in a participating Member State; (Article 2 is replaced by the following:)
Amendment 108 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 2 – subparagraph 1 – point a
Article 2 – paragraph 2 – subparagraph 1 – point a
(a) all participating deposit-guarantee schemes as defined in point (1) of Article 3(1a);
Amendment 111 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 2 – subparagraph 1 – point b
Article 2 – paragraph 2 – subparagraph 1 – point b
(b) all credit institutions affiliated to participating deposit-guarantee schemes.
Amendment 132 #
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
3. The DIF shall also cover 20% of the excess loss of the participating DGS aIn case a participating DGS encounters a payout event or is uset out inArticle 41c. The participating DGS shall repay the amount of funding it obtained under paragraph 2of this Article, less the amount of excess loss cover, in accordance wd in resolution in accordance with Article 79 of this Regulation, or is used for financing measures in accordance with article 11(3) or 11(6) of Directive 2014/49/EU, it may request a loan from the DIF where its intervention will diminish its available financial means to below 25% of iths the procedure set out inArticle 41o.arget level. (In new Part II is inserted as follows)
Amendment 141 #
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 1 – point b
Article 41 b – paragraph 1 – point b
(b) the amount of extraordinary contributions, as defined in Article 10(8) of the Directive 2014/49/EU , whichthe participating DGS can raise within three days from the payout event.
Amendment 145 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 ba (new)
Article 41 ba (new)
Article 41ba Provision of mandatory lending by DGSs 1. In cases where the available financial means of the DIF are not sufficient to provide the loan requested by a participating DGS in accordance to Article 41a, the Board shall borrow from the other participating DGSs. 2. Each participating DGS shall provide the requested loans to the DIF (mandatory lending) 3. The Board shall calculate the amount of mandatory lending needed to provide funding in accordance to Article 41a. The Board shall calculate the amount of mandatory lending to be claimed from each participating DGS in proportion to the ratio between the DIF’s target level and the target level of each DGS as determined in accordance with Article 10(2) of Directive 2014/49/EU. 4. After completion of the build-up phase of the DIF in accordance with Article 74d, the amount to be provided by each participating DGS as mandatory lending shall not exceed 75 % of the target level of that DGS. 5. In order to obtain the funding through mandatory lending the Board shall follow the procedure laid down in Article 41q.
Amendment 196 #
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 2 – point d a (new)
Article 41 l – paragraph 2 – point d a (new)
(da) in case of a payout event, an estimate of the extraordinary contributions it can raise within three days from that event
Amendment 219 #
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
4. After the termination of the insolvency procedure or resolution procedure ofThe following conditions for the credit institution concerned, the Board shall without delay determine the excess loss in accordance with Article 41d or the loss in accordance with Article 41h. Where this determination results in arepayment obligation ofpayment planshall apply: (a) the minimum annualrepayment bythe participating DGS tshat differs from the amounts repaid in accordance with the seconll be 10% on average of the funding provided by the Board aund third paragraph, the difference shall be settled between the Board and the participating DGS without delayer Article 41n; (b) each year, the Board shall reassess the level of expected recoveries and recalibrate the repayment plan for the remaining years in accordance with the assessment.
Amendment 222 #
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 4a (new)
Article 41 o – paragraph 4a (new)
4a. As long as a participating DGS has liquidity support outstanding with the DIF, the majority of extraordinary contributions raised in accordance with Article 10(8) of Directive 2014/49/EU, the majority of recoveries on the DGS’s claims pursuant to Article 9(2) of Directive 2014/49/EU and Article 75 of Directive 2014/59/EU, the majority of repayment of or income derived from measures taken in accordance with Article 109 of Directive 2014/59/EU or Article 11(3) of Directive 2014/49/EU shall first be used to repay the DIF before those financial means are used to reach the target level of the participating DGS again. This shall be reflected in the repayment plan.
Amendment 228 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 q – paragraph 2
Article 41 q – paragraph 2
2. The participating DGS shall maximise its proceeds from the insolvency estate and shall be liable towards the Board forAs long as the DIF has an outstanding loan referred to in Article 41ba, any amofuntds not recovered due to a lack of diligence. The Board may decide, after hearing the participating DGS, to exercise itself all rights arising under the deposit claims mentioned in paragraph 1.;received by the DIF in accordance with Article 41o shall primarily be used to repay participating DGSs before those funds are used to reach the target level of the DIF referred to in 74b again.
Amendment 233 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 q a (new)
Article 41 q a (new)
Article 41qa Interest The loans granted by the DIF shall not bear any interest rate.
Amendment 248 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 1
Article 74 b – paragraph 1
1. By the end of the reinsurance period[2 years from the date of entry into force of this amending Regulation], the available financial means of the DIF shall reach an initial target level of 250% of four ninthof the sum of the minimum target levels that participating DGSs shall reach in accordance with the first subparagraph ofof the target level referred to in Article 10(2) of 2014/49/EU calculated as a percentage of the amount of covered deposits in all credit institutions referred to in Article 102(2) of Directive 2014/49/EU, point (b), of this Regulation.
Amendment 254 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c –title
Article 74 c –title
Article 74c Ex-ante contributionsFunding the DIF
Amendment 256 #
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 anduntil [2 years from the date of entry into force of this amending Regulation], the Board shall, 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 affiliato be transferred to the respective participating DGSDIF in order to reach the 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 285 #
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) Concentration to exposures to a single central government and central bank;
Amendment 295 #
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 a (new)
Article 74 c – paragraph 5 a (new)
5a. After [2 years from the date of entry into force of this amending Regulation] the Board shall, in close cooperation with the participating DGSs and designated authorities, determine contributions to be collected from each credit institution referred to in Article 2(2), point (b), and to be transferred to DIF by the participating DGS in order to maintain the target level provided for in Article 74b.
Amendment 297 #
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 b (new)
Article 74 c – paragraph 5 b (new)
5b. After [2 years from the date of entry into force of this amending Regulation] the Board may, in close cooperation with the participating DGSs and designated authorities, defer the required contributions to be collected in accordance with paragraph 5a to ensure that the amount to be transferred reaches an amount that is proportionate to the costs of the collection process for participating DGSs, provided that such deferral does not materially affect the capacity of the Board to use the DIF in accordance with Article 41a.
Amendment 311 #
Proposal for a regulation
Article 1 – paragraph 1 – point 39 a (new)
Article 1 – paragraph 1 – point 39 a (new)
Regulation (EU) No 806/2014
Article 94 – paragraph 3 a (new)
Article 94 – paragraph 3 a (new)
39a. in Article 94, the following paragraph is added: ‘3a. By [31 December one year after entry into force of this amending Regulation] the Commission shall review the functioning of EDIS I with a view to move towards a loss-coverage phase by 2029. The review shall assess in particular the following: (a) the adequacy of funding mechanism and target level of EDIS I and the cases of use of the liquidity mechanism; (b) the scope of measures financed by EDIS I under article 41a and the entities referred to in Article 2(2), point (b); (c) the appropriateness of an extension of EDIS I from providing liquidity support to a loss-coverage mechanism whereby EDIS would cover the losses incurred by national DGS and/or directly reimburse depositors; (d) the appropriateness of introducing a publicly funded backstop mechanism or the DIF; (e) whether the funding of EDIS should be adapted to move toward a loss coverage phase By 30 June 2027, the Commission shall submit a report to the European Parliament and the Council, accompanied with a legislative proposal if appropriate. By 30 June 2027, the Commission shall submit a report to the European Parliament and the Council, accompanied with a legislative proposal if appropriate.'
Amendment 320 #
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 insert date of entry into force of this amendingRegulation];