12 Amendments of Pervenche BERÈS related to 2015/0270(COD)
Amendment 113 #
Proposal for a regulation
Recital 5
Recital 5
(5) In June 2015, the Five Presidents Report on Completing Europe’s Economic and Monetary Union pointed out that a single banking system can only be truly single if confidence in the safety of bank deposits is the same irrespective of the Member State in which a bank operates. This requires single bank supervision, single bank resolution and single deposit insurance. The Five Presidents report therefore proposed tocalled for completeion of the Banking Union by establishing a European Deposit Insurance Scheme (EDIS), the third pillar of a fully-fledged Banking Union alongside bank supervision and resolution, that should be completed by a common fiscal backstop based in the European Stability Mechanism. Concrete steps in that direction should already be taken as a priority, with a re-insurance system at the European level for the national deposit guarantee schemes as a first step towards a fully mutualised approach. The scope of this reinsurance system should coincide with that of the SSM.
Amendment 150 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to ensure parallelismcoherence with the SSM and the SRM, EDIS should apply to participating Member States. Banks established in the Member States not participating in the SSM should not be subject to EDIS. As long as supervision in a Member State remains outside the SSM, that Member State should remain responsible for ensuring the protection of depositors against the consequences of the insolvency of a credit institution. As Member States adopt the Euro and join the SSM, or join the SSM, they should also automatically become subject to the EDIS. Ultimately, the EDIS cshould potentially extend to the entire internal market.
Amendment 155 #
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure a level playing field within the internal market as a whole, this Regulation is consistent with Directive 2014/49/EU. It complements the rules and principles of that Directive to ensure the proper functioning of EDIS and that appropriate funding is available to the latter. The key objective of the EDIS is to enhance the effective deposit guarantee framework with a view to protecting depositors against the consequences of deposits becoming unavailable. At the full insurance stage, the objective is to provide an equal level of protection to all depositors of credit institutions affiliated to the participating DGSs. The material law on deposit guarantee to be applied within the EDIS framework will therefore be consistent with the one applicable by the national DGSs or designated authorities of the non- participating Member States, harmonised through the Directive 2014/49/EU.
Amendment 166 #
Proposal for a regulation
Recital 17
Recital 17
(17) EDIS should progressively evolve from a reinsurance scheme into a fully mutualised co-insurance scheme over a number of years. In the context of efforts to deepen the EMU, together with the work on the establishment of bridge-financing arrangements for the Single Resolution Fund (SRF) and on developing a common fiscal backstop, this step is necessary to reduce the bank/sovereign links in individual Member States by means of steps towards risk sharing among all the Member States in the Banking Union, and thereby to reinforce the Banking Union in achieving its key objective. HoweverIn parallel, such risk sharing implied by steps to reinforce Banking Union must proceed in parallel with risk reducing measures designed to break the bank-sovereign link more directly.s already supported by the SSM and SRM, which significantly reduce the likelihood of bank failures, and by a wide range of prudential measures which have been taken in respect of banks, with the objective of strengthening supervision and crisis management, improving the amount and quality of capital, reducing concentration of exposures, fostering deleveraging, limiting pro-cyclical lending behaviour, reinforcing access to liquidity, addressing systemic risk due to size, complexity and interconnectedness, reinforcing depositor confidence, and incentivising proper risk management via rules on governance
Amendment 198 #
Proposal for a regulation
Recital 20
Recital 20
(20) As the Deposit Insurance Fund, in the re-insurance stage, would only provide an additional source of funding and would only weaken the link between banks and their national sovereign, without however ensuring that all depositors in the Banking Union enjoy an equal level of protection, the reinsurance stage should, after threewithin two years, gradually progress into a co- insurance scheme and ultimately into a fully mutualised deposit insurance scheme. Only a fully mutualized EDIS would ensure that all depositors enjoy an equal level of protection.
Amendment 216 #
Proposal for a regulation
Recital 22 a (new)
Recital 22 a (new)
(22a) The current reform of the financial services regulatory framework should lead to a strengthening of the overall financial position of European banks, and requires banks to prioritize bolstering capital requirement over their banks' revenue distribution, including employee bonuses and shareholder dividends. This can be attained, inter alia, via retained earnings.
Amendment 263 #
Proposal for a regulation
Recital 30
Recital 30
(30) Ensuring effective and sufficient financing of the Deposit Insurance Fund is of paramount importance to the credibility and efficiency of EDIS. The capacity of the Board to contract alternative funding means for the Deposit Insurance Fund should be enhanced in a manner that optimises the cost of funding and preserves the creditworthiness of the Deposit Insurance Fund. Immediately after the entry into force of this Regulation, the necessary steps should be taken by the Board in cooperation with the participating Member States to develop the appropriate methods and modalities permitting the enhancement of the borrowing capacity of the Deposit Insurance Fund that should be in place by the date of application of this Regulation. It is essential also to create a mutualised credit line via the European Stability Mechanism (ESM) as an effective common fiscal backstop for the Banking Union to be used as a last resort.
Amendment 268 #
Proposal for a regulation
Recital 31
Recital 31
(31) It is necessary to ensure that the Deposit Insurance Fund is fully available for the purpose of ensuring the guarantee of deposits. Therefore, the Deposit Insurance Fund should primarily be used for the efficient implementation of deposit guarantee requirements and actions. Furthermore, it should be used only in accordance with the applicable deposit guarantee objectives and principles. Under certain conditions, the Deposit Insurance Fund could also provide funding where the available financial means of a DGS are used in resolution in accordance with Article 79 of this Regulation. Furthermore, the Deposit Insurance Fund could be used for the implementation of alternative measures, as established in Article 77a of this Regulation, under a strict supervision framework.
Amendment 288 #
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, in order to ensure that all depositors in the Banking Union enjoy an equal level of protection, this Regulation establishes a fully mutualised European Deposit Insurance Scheme ('EDIS') by 2022 in three successive stages:
Amendment 318 #
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) credit institutions affiliated to participating deposit-guarantee schemes. and compliant with Regulation (EU) No 575/2013 1a as regards consolidated supervision. __________________ 1aCapital Requirements Regulation (CRR)
Amendment 744 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 g – paragraph 1 a (new)
Article 74 g – paragraph 1 a (new)
1a. The board may raise loans as a mutualised credit line via the European Stability Mechanism regarding the immediate availability of additional financial means to be used where the amounts raised or available are not sufficient to meet the Funds' obligations. A common backstop shall be developed during the re-insurance period to facilitate borrowing by the DIF. The use of the common backstop shall be fiscally neutral in the long term.
Amendment 774 #
Proposal for a regulation
Article 1 – paragraph 1 – point 37
Article 1 – paragraph 1 – point 37
Regulation (EU) No 806/2014
Article 77 a – paragraph 3 a (new)
Article 77 a – paragraph 3 a (new)
3a. The Board may allow the use of the DIF for alternative measures in order to prevent the failure of a credit institution provided that the conditions defined in the Article 11(3) of the Directive 2014/49/EU are met. The Board may decide that the available financial means may also be used to finance measures to preserve the access of depositors to covered deposits, including transfer of assets and liabilities and deposit book transfer, in the context of national insolvency proceedings, provided that the costs borne by the DIF do not exceed the net amount of compensating covered depositors at the credit institution concerned.