34 Amendments of Stéphanie YON-COURTIN related to 2019/2130(INI)
Amendment 3 #
Motion for a resolution
Citation 6
Citation 6
— having regard to its resolution of 23 November 2016 on the finalisation of Basel III2 , and the conclusion of the Ecofin Council of 12 July 2016 noting that the reform package would not be expected to result in a significant increase of EU capital, _________________ 2 Texts adopted, P8_TA(2016)0439.
Amendment 5 #
Motion for a resolution
Citation 10
Citation 10
— having regard to the European Banking Authority (EBA) report of DecNovember 20189 entitled ‘Risk Assessment of the European Banking System’5 ;5, _________________ 5 https://eba.europa.eu/eba-sees-further- improvesites/default/docume nts-in-eu-banks-resilience-but- highlights-challenges-connected-to- profitability-funding-and-operational-risk /files/document_library/Risk%20Analy sis%20and%20Data/Risk%20Assessment %20Reports/2019/Risk%20Assessment%2 0Report_November%202019.PDF
Amendment 14 #
Motion for a resolution
Citation 27 a (new)
Citation 27 a (new)
- having regard to the EBA report of November 2019 entitled 'Report on NPLs: Progress made and challenges ahead',15a _________________ 15a https://eba.europa.eu/file/233465/downloa d?token=xH5hxq39
Amendment 16 #
Motion for a resolution
Citation 27 b (new)
Citation 27 b (new)
- having regard to the joint advice of the European Supervisory Authorities (ESAs) to the European Commission of April 2019 on the need for improvements relating to ICT risk management requirements in the EU financial sector15b, _________________ 15bJC 2019 26, https://eba.europa.eu/file/102634/downloa d?token=ZR98JZp8
Amendment 18 #
Motion for a resolution
Citation 27 c (new)
Citation 27 c (new)
- having regard to the EBA report of October 2019 entitled 'Report on potential impediments to the cross-border provision of banking and payment services',15c _________________ 15c https://eba.europa.eu/file/178124/downloa d?token=7fFsD9og
Amendment 25 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the completion of the Banking Union is a vital contributor to the international perception of the euro and its increased role in global markets;
Amendment 30 #
Motion for a resolution
Recital B
Recital B
B. whereas the Banking Union remains incomplete as long as it lacks a backstop for the Single Resolution Fund (SRF) and a European Deposit Insurance Scheme (EDIS) as the third pillar of the Banking Union;
Amendment 36 #
Motion for a resolution
Recital C
Recital C
C. whereas entrusting the ECB with the supervision of systemically important financial institutions has proven to be successful; whereas the ECB can exercise, where necessary, supervisory tasks in relation to all credit institutions authorised in, and branches established in, participating Member States;
Amendment 57 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls the progress made regarding the implementation of the Banking Union, namely in terms onf risk reduction and risk sharing; stresses, however, that further progress has to be made, particularly on risk sharing both on risk sharing and risk reduction through proper implementation of EU legislation in particular effective supervision for all EU banks;
Amendment 60 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Recalls that the Banking Union is open to all Members States wishing to join; considers that the control and accountability of the Banking Union lies primarily with the participating Member States and institutions;
Amendment 73 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Stresses that the Eurogroup is neither an institution, a body nor an agency of the European Union but an informal intergovernmental forum of discussion; regrets that Member States continue to act outside the Community framework, jeopardizing Parliament's role as co-legislator and its right for democratic oversight;
Amendment 74 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Highlights the lack of efficacy of the intergovernmental negotiations conducted thus far, most notably those involving the Budgetary Instrument for Convergence and Competitiveness and the Eurogroup's Banking Union High Level Working Group; urges negotiations to continue in an open setting that guarantees an active involvement of the European Parliament, inside the European Union's legal order; underlines the increased judicial protection these changes would result in, along with stricter transparency and access to documents requirements;
Amendment 91 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that bank profitability has increased steadily since 2012, with return on equity surpassing 6 % since 2017of European banks is significantly lower than US banks ; underlines that the low risk and low interest rate environment has resulted in lower costs for provisions and lossesd an impact on this low level of profitability ; recalls the need to continuously evaluate the levels of financing to the economy and particularly to SMEs ;calls for an appropriate assessment of the impacts of past and future regulations to reach that objective;
Amendment 97 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; is concerned that the vulnerabilities of banks to climate-related risks may not be fully comprehended; in that regard, welcomes the EBA's commitments to include climate-risk considerations in its annual risk assessment and to introduce a dedicated climate change stress test; calls on the Commission to respond to these risks if necessary;
Amendment 102 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy and reiterates its important role in real economy, growth and employment;
Amendment 117 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Restates the importance of a safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt ; calls on the Commission to submit a legislative proposal for the creation of a true European safe assetreference asset classes in the Eurozone, including the implementation of a European mechanism for the securitization of credits with a high climate impact with a European label and the guarantee of the European Investment Bank;
Amendment 132 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines the fact that financial markets are strongly interrelated; stresses the importance of preparedness of banking supervisors for all possible outcomes of Brexit, bearing in mind that this is not a substitute for preparedness of private actors themselves; underlines the risk of fiscal dumping and the need to take action regarding the Capital Markets Union to preserve the attractiveness of EU financial markets after Brexit;
Amendment 135 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Recalls the political mandate given to Commission Vice-President Dombrovskis to deliver an economy that works for people; stresses that the objective of all prospective measures or reforms should be to contribute to the stability or proper functioning of the Banking Union to the benefit of the citizen and the real economy;
Amendment 140 #
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Underlines that the EU banking sector hosts a plethora of banking models; stresses that all future measures and reforms should take due consideration of the diversity of the EU banking sectors and deliver proportionate measures which will maintain the competitiveness of the sector, both in the internal market and vis-à-vis global markets;
Amendment 152 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that the ratio of non- performing loans (NPLs) held by significant institutionEU banks has fallen by more than half from the start of ECB banking supervision, in November 2014, to June 2019; underlines the need to protect customers’ rights in the context of NPL transactio but that there are still disparities amongst the Member States; stresses that all institutions across the EU should contribute to lowering the ratio; underlines the need to protect customers’ rights in the context of NPL transactions in the primary and secondary markets and that these rights should apply equally to existing and future loans;
Amendment 171 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that work on the implementation of the final Basel III standards has already started; recalls its resolution of 23 November 2016 on the finalisation of Basel III and the conclusions of the ECOFIN Council of 12 July 2016 and calls on the Commission to act on the recommendations therein when drafting the new legislative proposals; underlines that the Commission should ensure that implementation in the EU is proportionate, and maintains the competitiveness of the EU banking sector, both internally and vis-à-vis global competitors;
Amendment 181 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Requests increased transparency in banking supervision typically by broadening the scope of EBA’s public EU-wide stress tests and by fostering the use of IFRS valuation standards for prudential purposes by competent authorities, in order to reinforce trust from capital and financial markets, companies and citizens;
Amendment 182 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Requests increased transparency in banking supervision in order to reinforce trust from capital and financial markets, companies and citizens, as well as to ensure consistency of treatment across Member States;
Amendment 185 #
13. Notes that innovative financial technologies are profoundly transforming the financial sector, including banking and payment services, and welcomes the efficiencies these offer to consumers and the competition these bring to the market; highlights the need to address the challenges posed by these new technologies, such as ensuring sustainable business models that are interoperable across borders, a level playing field in terms of regulation and supervision, and cybersecurity; notes, also, the increasing reliance on cloud-computing by the banking sector and urges the Commission to respond to the Joint Advice of the ESAs on the need for legislative improvements relating to ICT risk management requirements in the EU financial sector;
Amendment 195 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Notes that there is considerable interconnectedness between the ‘shadow banking’ sector and the ‘traditional’ banking sector, which raises concerns of systemic risk given the lack of appropriate supervision of the first; calls, in this regard, for the establishment of a macroprudential toolkit to counter threats to financial stability posed by the increasing role of the ‘shadow banking’ system; encourages global standards setters to fill those gaps and show the same willingness that has been so far devoted for the 'traditional' banking sector;
Amendment 200 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the agreement on the exchange of information between the ECB and the AML/CFT supervisors; recalls its serious concern about regulatory and supervisory fragmentation in the AML/CFT area, which has failed to provide adequate oversight and responses to national supervisory authorities’ deficiencies and is ill-suited to supervise the increasing cross-border activity in the EU ; calls on the Commission to urgently start working on the overhaul of the EU AML framework and legislation to effectively address the risks posed by cross-border illegal activitythe riskiest banks where national supervision is deemed insufficient, to the integrity of the EU financial system and the security of EU citizens; believes that a regulation, rather than a directive, would guarantee a more effective AML framework; supports the idea of a single European AML supervisor;
Amendment 208 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
Amendment 218 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recalls its resthe evolution of 8 June 2011 on credit rating agencies: future perspectives; notes that the creation of a European credit rating agency would contribute to increasing competition, reducing information asymmetries and increasing transparency for marketthe EU framework for credit rating agencies; notes that sustainability ratings based on environmental, social and governance (ESG) criteria are an important complement to the credit risk assessments provided by credit ratings in channelling funds towards investments in sustainable activities; stresses the importance of ensuring that the development of a market for the provision of sustainability ratings is competitive and not concentrated with a limited number of providers;
Amendment 222 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
Amendment 223 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Notes the recent findings of the EBA highlighting remaining impediments to the cross-border provision of banking services; highlights the benefits of increased cross-border activity to market competition and the provision of services to consumers; calls on the Commission to identify and address aspects of the Single Rulebook which could be harmonised further, as well as divergent implementation of the rules across Member States; recommends that the Commission explores aspects of national insolvency regimes which could be harmonised;
Amendment 228 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Welcomes the fact that the Single Resolution Board has not been required to take resolution action in 2019; urges the Commission to review whether the legislation and the 2013 banking communication on State aid is adequate to ensure that all banks could, if needed, be resolved without the need for taxpayers’ money; invitesconsiders that the Commission to follow up on the Financial Stability Board review of the ‘too big to fail’ legislation and consider if legislation to separate deposit-taking and investment banking should once again be considered's decision on State aid in the banking sector lack readability;
Amendment 232 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Calls for reinforcing the Single Resolution Mechanism's framework in light of recent controversial cases; highlights its shortcomings as regards its complex governance, the inconsistent application of the existing crisis management tools thus leading to concerns about a level-playing field and the SRB's narrow interpretation of the public interest assessment;
Amendment 245 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Urges the operationalisationNotes the progress made by the Eurogroup in reaching an agreement on the legal framework for the common backstop to the SRF; regrets, however, its decision to postpone the final decision on the introduction of the common backstop; recalls the importance of the common backstop to the SRFas an important tool for the SRM; urges the operationalisation of the backstop as soon as practicable;
Amendment 272 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges the completion of the Banking Union through the creation of a fully mutualised EDISEuropean Deposit Guarantee Mechanism, to protect depositors against banking disruptions and to ensure confidence among depositors and investors across the Banking Union; welcomes the support of the [incoming] President of the Commission and the President of the ECB for the establishment of EDISthe third pillar of the Banking Union;