12 Amendments of Peter SKINNER related to 2010/2006(INI)
Amendment 21 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas other financial sectors should not be expected to contribute to a fund that will be used to bailout the banking sector,
Amendment 28 #
Motion for a resolution
Recital N
Recital N
N. whereas a limited number of banks (“Systemic Banks”) represent an extremely high level of systemic risk due to their size, complexity and interconnectedness across Europe, calling for an urgent and targeted special regimethe crisis has demonstrated that banks of any size may pose systemic risks in certain circumstances,
Amendment 36 #
Motion for a resolution
Recital N a (new)
Recital N a (new)
Na. whereas insurance entities are already structured so they have internal “resolution regimes”, and should one fail it would do so over time, being put into run off closes it to new business but allows it to honour its commitments to policyholders,
Amendment 38 #
Motion for a resolution
Recital O
Recital O
O. whereas a special regime for Systemic Bankscrisis resolution regime, in order to be effective in supporting interventions, requires a common set of rules, appropriate expertise and financial resources,
Amendment 45 #
Motion for a resolution
Recital P
Recital P
Amendment 54 #
Motion for a resolution
Recital P a (new)
Recital P a (new)
Pa. whereas any stability fund developed on a pan-European basis must be ring- fenced for future crises resolution only and not useable for financial interventions for crises emerging as result of ongoing problems resulting from the financial crisis of 2007/2008,
Amendment 75 #
Motion for a resolution
Annex – recommendation 1 – paragraph 3
Annex – recommendation 1 – paragraph 3
3. Attribute to the relevant supervisor the responsibility for crisis management and the approval of each bank’s contingency plan, as follows: • for Systemic Banks: the European Banking Authority (EBA) in close cooperation with the college of national supervisors and the Cross Border Stability Groups (as defined in the above- mentioned Memorandum of Understanding of June 2008); • for all other cross border non-systemic banks: the consolidated supervisor within the college, under the coordination of the EBA and in consultation with the Cross Border Stability Groups; • for local banks: the local supervisor.
Amendment 98 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – introductory part
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – introductory part
8. Expand the crisis management minimum intervention toolbox available to supervisors, beyond the Article 136 of Directive 2006/48/EC, to include at least the powery amending the relevant sectoral legislation or introducing new sectoral legislation to:
Amendment 139 #
Motion for a resolution
Annex – recommendation 2
Annex – recommendation 2
Amendment 211 #
Motion for a resolution
Annex – recommendation 3 – paragraph 2 – indent 2
Annex – recommendation 3 – paragraph 2 – indent 2
• funded ex-ante by the Systemic Banks on the basis of risk-based, countercyclical criteria that takes into account the systemic risk posed by an individual bank as identified by its Risk Dashboard;
Amendment 232 #
Motion for a resolution
Annex – recommendation 3 – paragraph 3 – indent 4
Annex – recommendation 3 – paragraph 3 – indent 4
Amendment 235 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1
Annex – recommendation 4 – paragraph 1
1. A resolution unit shall be established within the EBA to lead the resolution and insolvency procedures for Systemic BankEU dimensions. This unit shall: • operate within the strict boundaries defined by the legal framework and the EBA’s competencies; • be a pool of legal and financial expertise specially skilled in bank restructurings, turnarounds and liquidation; • cooperate closely with national authorities on implementation, technical assistance and sharing of staff; • propose the disbursements from the Stability Fund.