BETA

14 Amendments of Gianna GANCIA related to 2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b a (new)

Directive 2013/36/EU
Article 21a – paragraph 4 – subparagraph 2

(b a) in paragraph 4, subparagraph 2 is replaced by the following: ‘Financial holding companies or mixed financial holding companies exempted from approval in accordance with this paragraph shall not be excluded from the perimeter of consolidation as laid down in this Directive and in Regulation (EU) No 575/2013~~. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101~~ unless, upon request of the financial holding company or mixed financial holding company, the competent authority identifies a composition of the group other than the one designated. In particular, a financial holding company or a mixed financial holding company cannot be considered the parent company where, in the opinion of the competent authorities, the following conditions are met: i) the company has a statutory prohibition to assume management and coordination functions; ii) the company has no significant equity investments other than those in the company or bank as referred to in paragraph 5; iii) there is a bank or other company that is allowed to exercise the management and coordination functions and declares it.’ Or. en

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b

Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 1

3. Member States shall ensure that institutions draw up, maintain and update individual statements setting out the roles ~~and duties of each member of the management body, senior management and key function holders and a mapping of duties, including details of the reporting lines and the lines of responsibility~~of key function holders, and the persons who are part of the governance arrangements as referred to in Article 74 (1) ~~and their duties approved by the management body~~.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b

Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 2

Member States shall ensure that the statements of ~~duties and the mapping of the duti~~roles are made available and communicated in due time, upon request, to the competent authorities.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b

Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 3

EBA shall issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, ensuring the implementation of this paragraph and its consistent application. EBA shall issue those guidelines by [OP please insert the date = 12 months from date of entry into force of this amending Directive].deleted

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 20

Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 1

2. The ~~entities shall assess the suitability of~~timing of the suitability assessment is subject to national law and takes place before or after the members of the management body ~~before those members~~ take up their positions. Where the entities conclude, based on the suitability assessment, that the member concerned does not fulfil the criteria and requirements set out in paragraph 1, the entities shall ensure that the member concerned does not take up the position considered.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 20

~~However~~Without prejudice to the timing provided for in national law, where it is strictly necessary to replace a member of the management body immediately, the entities may assess the suitability of such replacement members after they have taken up their positions. The entities shall be able to duly justify such immediate replacement.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 20

Directive 2013/36/EU
Article 91 b – paragraph 3 – subparagraph 2

Competent authorities shall complete the assessment referred to in paragraph 1 within 840 working days (‘assessment period’) as from the date of the written acknowledgement referred to in the first subparagraph of this paragraph.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 20

Directive 2013/36/EU
Article 91 b – paragraph 4

4. Competent authorities that request from the entities additional information or documentation, including interviews or hearings, may extend the assessment period for a maximum of 420 working days. However, the assessment period shall not exceed 1260 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation within 10 working days as of the date of the written acknowledgement of the request from competent authorities.

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 20

Directive 2013/36/EU
Article 91 b – paragraph 8

8. In accordance with paragraphs 1 to 7, competent authorities shall carry out the suitability assessment before members of the management body take up their positions in the following entities: (a) qualifies as largedeleted the EU parent institution~~; (b) St~~ thate that qualifies as large institution; (c) institution or that supervises large institutions affiliated to it; (d) that qualifies as large institution; (e) (f) companies in a Member State, parent mixed financial holding companies in a Member State, EU parent financial holding companies and EU parent mixed financial holding companies, having large institutions or relevant subsidiaries within their group. However, where it is strictly necessary to replace a member of the management body immediately, competent authorities may carry out the suitability assessment of members of the management body after they take up their positions. The entities shall be able to duly justify such immediate replacement.e parent institution in a Member central body that qualifies as large stand-alone institution in the EU relevant subsidiary; the parent financial holding

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 22 b (new)

Directive 2013/36/EU
Article 97 – paragraph 4 – subparagraph 2

(22b) in Article 97(4), subparagraph 2 is replaced by the following: ‘When conducting the review ~~and evaluation~~ referred to in paragraph 1 of this Article, competent authorities shall apply the principle of proportionality ~~in accordance with the criteria disclosed pursuant to point (c) of Article 143(1).~~having regard to definitions set out in Article 4(1), points 145 to 146a of Regulation (EU) No 575/2013 and, in accordance with the criteria disclosed pursuant to point (c) of Article 143(1) of this Directive. For entities referred to in Article 4(1), point 146a of Regulation (EU) No 575/2013, competent authorities shall take into account the fact that subsidiaries and affiliated undertakings are all small and non-complex or less significant institutions.’

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 22 c (new)

Directive 2013/36/EU
Article 98 – paragraph 1 – point i

(~~i) the business model of the institution. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101~~22c) in Article 98, paragraph (1), point (i) is replaced by the following: ‘(i) the business model of the institution, including those essential features defined in national law as for entities referred to in Article 4(1), point 146a of Regulation (EU) No 575/2013.’ Or. en

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 25 – point b

Directive 2013/36/EU
Article 104 – paragraph 3

3. EBA shall issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, to specify how competent authorities may identify that the credit valuation adjustment (CVA) risks of institutions, referred to in Article 381 of Regulation (EU) No 575/2013, pose excessive risks to the soundness of those institutions.;deleted

2022/08/22
Committee: ECON

Proposal for a directive
Article 1 – paragraph 1 – point 32 a (new)

(32a) in Article 143( 1), point (c) is replaced by the following: (c) the general criteria and methodologies they use in the review and evaluation referred to in Article 97, including the criteria for applying the principle of proportionality as referred to in Article 97(4); ~~https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101~~For the latter criteria and in respect to, at least, for small and non-complex institutions as defined in Article 4(1), point 145 of Regulation (EU) No 2019/876, a positive impact on proportionality needs to be achieved by ensuring that in addition to the existing ones, the following elements are clearly disclosed: (i) a simplified approach to individuate material risks (ii) simplified approaches to quantify the single material risks under Chapter 2 (review processes) Section II (arrangements, processes and mechanisms of institutions) Sub-Section 2 (technical criteria concerning the organisation and treatment of risks) and under Article 98 of this Directive (iii) guidance on scope, methodologies, scenario and data for small and non- complex institutions’ stress testing; Or. en

2022/08/22
Committee: ECON

Proposal for a directive
Article 3 – paragraph 1 – subparagraph 4

By derogation from the preceding subparagraph, Member States shall apply the provisions on reporting on third country branches in Title VI, Chapter 1, Section II, Sub-section 4 of Directive 2013/36/EU, as inserted by The provisions necessary to comply with the amendments set out in Article 1, point (20), on suitability assessment shall apply from ... [24 monthis ~~Directive, from the~~from date of application ~~laid down in the second subparagraph of this Article~~of this amending Directive].

2022/08/22
Committee: ECON