23 Amendments of José Manuel GARCÍA-MARGALLO Y MARFIL related to 2022/2061(INI)
Amendment 21 #
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism; whereas although the Deposit Guarantee Schemes Directive4 sets out high minimum standards in the area of deposit protection, the BU remains unfinished because the third pillar that would guarantee economic and monetary union – the European deposit insurance scheme (EDIS) – has not yet been established; _________________ 4 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).
Amendment 26 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the establishment of a European Deposit Guarantee Scheme (EDIS) remains a priority as the two existing pillars are insufficient to ensure a strong Banking Union;
Amendment 44 #
Motion for a resolution
Recital F
Recital F
Amendment 51 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas sustainability is important for the financial sector, as banks are exposed to both credit and reputational risk;
Amendment 52 #
Motion for a resolution
Recital G
Recital G
G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber riskswhich should be exploited to strengthen and consolidate the sector, facilitate access for retail investors and improve the coordination and interconnection of the Banking Union;
Amendment 57 #
Motion for a resolution
Recital H
Recital H
H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules and ensure a consistentn appropriate and effectiveicient implementation of these rules that strengthens the European banking system;
Amendment 64 #
Motion for a resolution
Recital I
Recital I
I. whereas ensuring high-level and equal protection ofpromoting the inclusion of and access for all investors and depositors is at the core of the BU and the Capital Markets Union;
Amendment 71 #
Motion for a resolution
Recital J
Recital J
Amendment 81 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the banking sector plays a crucial role in supporting Europe's economic recovery and growth, particularly through the channelling of key financing to foster investment and thus create business opportunities and jobs;
Amendment 85 #
Motion for a resolution
Recital J b (new)
Recital J b (new)
Jb. whereas the successful completion of the Banking Union depends on other EU projects and major ambitions, such as the Capital Markets Union; whereas both projects are interconnected, and developing one should lead to progress and advances with the other; whereas both the Banking Union and the Capital Market Union are indispensable for the economic strengthening of the Union;
Amendment 93 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Condemns in the strongest possible terms the Russian aggression against Ukraine and its devastating impact on the Ukrainian people; notes that the Russian invasion has also had social, economic and financial consequences for the EU, including exacerbating inflation trends; notes that banks’ direct exposures to Russia and Ukraine are limited, but that the banking sector may be affected by indirect impacts with a fall in net profit and revenues;
Amendment 98 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that the banking sector, in conjunction with public support measures, has acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience, as well as the ability of the banking sector to improve risk management and ensure lending activities during economic downturns;
Amendment 108 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely mannerso that the European banking system can compete internationally and become more attractive and safer for investors;
Amendment 137 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. WelcomesTakes note of the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislativwarns of the need for clear objectives to be set with the proposal, and the ECB Governing Council’s decision on the digital euros well as for a robust risk/benefit assessment of the implementation of the digital euro; encourages thorough reflection on the added value of this proposal before any legislative proposal is launched by the Commission;
Amendment 151 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. UrgInvites the EU Member States who are not yet part of the BU to take steps towards joining it;
Amendment 154 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection to better serve consumers and customers as well as to foster financial inclusion through financial education and literacy;
Amendment 178 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. NotWelcomes that the banking sector’s profitability has increased over the past year to its best level in 14 years;
Amendment 194 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank andimprove the manner in which sovereign debt is dealt with; points to the downward trend in sovereign riskexposures;
Amendment 204 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Highlights that banks have a crucial role to play in enablfacilitating the transition towards a sustainable economy; calls for environmental, social and governance (ESG) risks to be included in the prudential frameworkstresses the responsible conduct of the banking sector in this respect;
Amendment 211 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 224 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 274 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Takes note of the appointment of a new SRB Chair and of a new Board member; points out the lack of gender balance within the Board and across the SRB’s management positions; urges the SRB to address this issue and ensure a more balanced representation of genders in its management positions based on the candidates' merit and ability;
Amendment 300 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Points out that any EDIS should take into account clear rules for the participation of non-euro-area Member Statesaddress the participation of Member States that do not form part of the euro area, analysing the risks that they may present and developing all appropriate mechanisms for their participation;