BETA

105 Amendments of Laurence SAILLIET

Amendment 51 #

2023/2130(DEC)

Motion for a resolution
Paragraph 36 a (new)
36a. Welcomes the resumption of in- presence plenary sessions in Strasbourg; recalls that the EU Treaties stipulate that Parliament shall have its seat in Strasbourg, where the 12 periods of monthly plenary sessions, including the budget session, shall be held; underlines that the suspension of sessions in Strasbourg, the introduction of electronic voting and remote participation are linked to the exceptional circumstances of the COVID-19 pandemic; recalls that any change to the Treaties requires the unanimity of the Member States;
2024/01/31
Committee: CONT
Amendment 60 #

2023/2130(DEC)

Motion for a resolution
Paragraph 44
44. Notes with satisfaction that Members were given the opportunity to take part in plenary debates from the EPLOs in their Member States of election, this being as a result of the exceptional measures put in place during the pandemic, this having been facilitated by the actions of DG COMM; welcomes the increased efforts made by DG COMM to make use of new technologies to facilitate the work of Members during the COVID- 19 pandemic; acknowledges that the remote access for national media to the communication activities of Parliament has opened up ways to interact with Union citizens;
2024/01/31
Committee: CONT
Amendment 129 #

2023/2130(DEC)

Motion for a resolution
Paragraph 79
79. Recalls that the official languages to be used by the Union institutions, bodies and agencies are established in Regulation No 13; acknowledges that DG TRAD ensures that Parliament’s procedural content is available in all 24 official and working languages of the Union, thereby enabl; regrets that, in practice, just one of the Union’s working languages is used more widely ing Parliament to fulfil its commitment to the policy of multilingualism’s work, and increasingly so in recent years; calls for multilingualism to be respected by ensuring, where necessary, an adequate number of translation and interpreting staff; _________________ 3 Regulation No 1 determining the languages to be used by the European Economic Community (OJ P 017, 6.10.1957, p. 385)
2024/01/31
Committee: CONT
Amendment 80 #

2023/0363(COD)

Proposal for a regulation
Recital 1 a (new)
(1a) Reporting and disclosure requirements can also impose disproportionate burdens on interested parties, and can be particularly burdensome for small and medium-sized enterprises or micro-enterprises;
2024/01/10
Committee: ECON
Amendment 82 #

2023/0363(COD)

Proposal for a regulation
Recital 2
(2) Streamlining reporting obligations and reducing administrative burdens is therefoare a priority, including as regards reporting requirements in the financial sector and as regards the frequency of reporting related to the InvestEU Programme established under Regulation (EU) 2021/523 of the European Parliament and of the Council3 . __________________ 3 Regulation (EU) 2021/523 of the European Parliament and of the Council of 24 March 2021 establishing the InvestEU Programme and amending Regulation (EU) 2015/1017 (OJ L 107, 26.3.2021, p. 30).
2024/01/10
Committee: ECON
Amendment 87 #

2023/0363(COD)

Proposal for a regulation
Recital 4
(4) Financial institutions and other entities active on financial markets are required to report a wide range of information to enable Union and national authorities overseeing the financial system to monitor risks, ensure financial stability and market integrity, and protect investors and consumers of financial services in the Union. The European Supervisory Authorities and the European authority for countering money laundering and terrorist financing (AMLA) should regularly review the reporting and disclosure requirements and propose, where appropriate, to streamline and remove redundant or, obsolete or disproportionate requirements. They should coordinate this work via the Joint Committee of the European Supervisory Authorities. Facilitating theThey should make it easier to sharinge and reuse of the information collected by the authorities, while safeguarding data protection, professional secrecy and intellectual property, shouland reduceing the burden on reporting entities and on authorities by avoiding duplicative requests, in line with the Strategy on supervisory data in EU financial services. Information sharing should also contribute to better coordination of supervisory activities and supervisory convergence.
2024/01/10
Committee: ECON
Amendment 88 #

2023/0363(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) In order to foster the exchange of information across the entire financial sector, all authorities responsible for supervision in the financial sector, including the ESRB, the ESAs, the AMLA, the SSM, the SRB, as well as all respective competent, supervisory and resolution authorities in the Member States, should be included in the scope of this amending Regulation.
2024/01/10
Committee: ECON
Amendment 104 #

2023/0363(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
Regulation (EU) No 1093/2010
Article 29 – paragraph 1 – point d
(d) reviewing the application of the relevant regulatory and implementing technical standards adopted by the Commission, and of the guidelines and recommendations issued by the Authority and proposing amendments where appropriate, including to remove redundant or, obsolete reportingand disproportionate reporting and disclosure requirements andto minimise costs;;
2024/01/10
Committee: ECON
Amendment 36 #

2023/0323(COD)

Proposal for a regulation
Recital 9 a (new)
(9a) The sector engaged in the production, distribution and retail of slow-moving, cultural products, has a unique organisation within the broader retail landscape; a business model that benefits all involved parties by accounting for the structure of the creative and cultural sectors as keepers of large stocks with unique, slow operating cycles and stock rotation; a business model adapted to the distinctive traits of slow-moving and slow-selling cultural products with intrinsic value, unparalleled in other types of retail.
2023/12/18
Committee: IMCO
Amendment 36 #

2023/0323(COD)

Proposal for a regulation
Recital 9 a (new)
(9a) The sector engaged in the production, distribution and retail of slow-moving, cultural products, has a unique organisation within the broader retail landscape; a business model that benefits all involved parties by accounting for the structure of the creative and cultural sectors as keepers of large stocks with unique, slow operating cycles and stock rotation; a business model adapted to the distinctive traits of slow-moving and slow-selling cultural products with intrinsic value, unparalleled in other types of retail.
2023/12/18
Committee: IMCO
Amendment 37 #

2023/0323(COD)

Proposal for a regulation
Recital 9 b (new)
(9b) The sector engaged in the production, distribution and retail of books has a unique organisation within the broader retail landscape; having developed over decades a balanced business model employing long and flexible payment terms with the main aim of providing a diverse offer of books that enriches European culture; a business model that benefits all involved parties by accounting for the singular structure of bookshops as keepers of large stocks of thousands of unique titles, with infrequent stock rotation; a business model adapted to the distinctive traits of the trade of books, recognising books as slow-moving and slow-selling cultural products with intrinsic value, unparalleled in other types of retail.
2023/12/18
Committee: IMCO
Amendment 37 #

2023/0323(COD)

Proposal for a regulation
Recital 9 b (new)
(9b) The sector engaged in the production, distribution and retail of books has a unique organisation within the broader retail landscape; having developed over decades a balanced business model employing long and flexible payment terms with the main aim of providing a diverse offer of books that enriches European culture; a business model that benefits all involved parties by accounting for the singular structure of bookshops as keepers of large stocks of thousands of unique titles, with infrequent stock rotation; a business model adapted to the distinctive traits of the trade of books, recognising books as slow-moving and slow-selling cultural products with intrinsic value, unparalleled in other types of retail.
2023/12/18
Committee: IMCO
Amendment 88 #

2023/0323(COD)

Proposal for a regulation
Recital 29
(29) Effective access of undertakings, especially of SMEs, to credit management and financial literacy training can have a significant impact in reducing payment delays, maintaining optimal cash flows, reducing the risk of default and increasing the potential for growth. Nevertheless, SMEs often lack the capacity to invest in such training, while very limited trainings and training material focusing on enhancing SMEs’ knowledge of credit and invoice management are currently available. It is therefore appropriate to provide that Member States need to ensure that credit management tools, including factoring and financial literacy trainings are available and accessible to SMEs, including on the use of digital tools for timely payments.
2023/12/18
Committee: IMCO
Amendment 88 #

2023/0323(COD)

Proposal for a regulation
Recital 29
(29) Effective access of undertakings, especially of SMEs, to credit management and financial literacy training can have a significant impact in reducing payment delays, maintaining optimal cash flows, reducing the risk of default and increasing the potential for growth. Nevertheless, SMEs often lack the capacity to invest in such training, while very limited trainings and training material focusing on enhancing SMEs’ knowledge of credit and invoice management are currently available. It is therefore appropriate to provide that Member States need to ensure that credit management tools, including factoring and financial literacy trainings are available and accessible to SMEs, including on the use of digital tools for timely payments.
2023/12/18
Committee: IMCO
Amendment 104 #

2023/0323(COD)

Proposal for a regulation
Article 1 – paragraph 3 – point c a (new)
(ca) payments resulting from the purchase, sale, delivery, commission or agency operations contributing to the manufacture of books, as well as for the supply of paper and other consumables dedicated to the printing, binding or publishing of books,– in their special position as slow-moving, cultural products – where the payment terms shall be defined by agreement between the concerned parties.
2023/12/18
Committee: IMCO
Amendment 104 #

2023/0323(COD)

Proposal for a regulation
Article 1 – paragraph 3 – point c a (new)
(ca) payments resulting from the purchase, sale, delivery, commission or agency operations contributing to the manufacture of books, as well as for the supply of paper and other consumables dedicated to the printing, binding or publishing of books,– in their special position as slow-moving, cultural products – where the payment terms shall be defined by agreement between the concerned parties.
2023/12/18
Committee: IMCO
Amendment 112 #

2023/0323(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. With the exception of Article 3(1), tThis Regulation shall not affect the provisions laid down in Directive (EU) 2019/633.
2023/12/18
Committee: IMCO
Amendment 112 #

2023/0323(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. With the exception of Article 3(1), tThis Regulation shall not affect the provisions laid down in Directive (EU) 2019/633.
2023/12/18
Committee: IMCO
Amendment 121 #

2023/0323(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 3
(3) ‘late payment’ means payment of the amount due that is not made within the contractual or statutory payment period as set out in Article 3;
2023/12/18
Committee: IMCO
Amendment 121 #

2023/0323(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 3
(3) ‘late payment’ means payment of the amount due that is not made within the contractual or statutory payment period as set out in Article 3;
2023/12/18
Committee: IMCO
Amendment 150 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 1
1. In commercial transactions, the payment period shall not exceed 360 calendar days, from the date of the receipt of the invoice or an equivalent request for payment by the debtor, provided that the debtor has received the goods or services. This period shall apply both to the transactions between undertakings and between public authorities and undertakings. The same payment period shall also apply to the supply of non- perishable agricultural and food products one creditor and the debtor may agree on a payment period longer than 60 days as long as it is justified and previously a gregular and non-regular basis as referred to in Articles 3(1)(a), point (i), second indent and 3(1)(a), point (ii), second indent of Directive (EU) 2019/633, unless Member States provide for a shorter payment period for such producted in clear and unambiguous terms in the contract between the debtor and the creditor. In commercial transactions where the debtor is a public authority, the payment period shall not exceed 30 calendar days.
2023/12/18
Committee: IMCO
Amendment 150 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 1
1. In commercial transactions, the payment period shall not exceed 360 calendar days, from the date of the receipt of the invoice or an equivalent request for payment by the debtor, provided that the debtor has received the goods or services. This period shall apply both to the transactions between undertakings and between public authorities and undertakings. The same payment period shall also apply to the supply of non- perishable agricultural and food products one creditor and the debtor may agree on a payment period longer than 60 days as long as it is justified and previously a gregular and non-regular basis as referred to in Articles 3(1)(a), point (i), second indent and 3(1)(a), point (ii), second indent of Directive (EU) 2019/633, unless Member States provide for a shorter payment period for such producted in clear and unambiguous terms in the contract between the debtor and the creditor. In commercial transactions where the debtor is a public authority, the payment period shall not exceed 30 calendar days.
2023/12/18
Committee: IMCO
Amendment 172 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. A procedure of acceptance or verification may be exceptionally provided for in national law only where strictly necessary due to the specific nature of the goods or services. In that case, the contract shall describe the details of the procedure of acceptance or verification, including its duration.
2023/12/18
Committee: IMCO
Amendment 172 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. A procedure of acceptance or verification may be exceptionally provided for in national law only where strictly necessary due to the specific nature of the goods or services. In that case, the contract shall describe the details of the procedure of acceptance or verification, including its duration.
2023/12/18
Committee: IMCO
Amendment 178 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 3
3. Where the contract provides for a procedure of acceptance or verification, in accordance with paragraph 2, the maximum duration of that procedure shall not exceed 30 calendar days from the date of receipt of the goods or services by the debtor, even if such goods or services are supplied prior to the issuance of the invoice or an equivalent request for payment. In this case, the debtor shall initiate the procedure for acceptance or verification immediately upon reception from the creditor of the goods and/or the services that are the object of the commercial transaction. The payment period shall not exceed 30 calendar days after such procedure has taken place.deleted
2023/12/18
Committee: IMCO
Amendment 178 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 3
3. Where the contract provides for a procedure of acceptance or verification, in accordance with paragraph 2, the maximum duration of that procedure shall not exceed 30 calendar days from the date of receipt of the goods or services by the debtor, even if such goods or services are supplied prior to the issuance of the invoice or an equivalent request for payment. In this case, the debtor shall initiate the procedure for acceptance or verification immediately upon reception from the creditor of the goods and/or the services that are the object of the commercial transaction. The payment period shall not exceed 30 calendar days after such procedure has taken place.deleted
2023/12/18
Committee: IMCO
Amendment 189 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4
4. The payment period set out in paragraph 1 is the maximum payment period and is without prejudice to a shorter period which may be provided for in national law.
2023/12/18
Committee: IMCO
Amendment 189 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4
4. The payment period set out in paragraph 1 is the maximum payment period and is without prejudice to a shorter period which may be provided for in national law.
2023/12/18
Committee: IMCO
Amendment 194 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4 a (new)
4a. Nevertheless, longer payment terms may be defined by mutual agreements between the parties which are engaged in the production and retail of slow-moving, cultural products, with unique operating cycles and stock rotation of goods.
2023/12/18
Committee: IMCO
Amendment 194 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4 a (new)
4a. Nevertheless, longer payment terms may be defined by mutual agreements between the parties which are engaged in the production and retail of slow-moving, cultural products, with unique operating cycles and stock rotation of goods.
2023/12/18
Committee: IMCO
Amendment 202 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4 b (new)
4b. Paragraph 1 does not apply to the book sector.
2023/12/18
Committee: IMCO
Amendment 202 #

2023/0323(COD)

Proposal for a regulation
Article 3 – paragraph 4 b (new)
4b. Paragraph 1 does not apply to the book sector.
2023/12/18
Committee: IMCO
Amendment 303 #

2023/0323(COD)

Proposal for a regulation
Article 13
Article 13 Enforcement authorities 1. Each Member State shall designate one or more authorities responsible for the enforcement of this Regulation (‘enforcement authority’). 2. Where appropriate, enforcement authorities shall take measures necessary to ensure that the deadlines for payments are complied with. 3. Enforcement authorities shall cooperate effectively with each other and with the Commission and shall provide each other with mutual assistance in investigations that have a cross-border dimension. 4. Enforcement authorities shall coordinate their activities with other authorities responsible for enforcing other Union or national legislation including through exchange of information obligations. 5. Enforcement authorities shall forward the complaints received regarding late payments in the agricultural and food sector to the competent enforcement authorities under Directive (EU) 2019/633.deleted
2023/12/15
Committee: IMCO
Amendment 339 #

2023/0323(COD)

Proposal for a regulation
Article 14
Article 14 Powers of enforcement authorities 1. Enforcement authorities shall have the necessary resources and expertise to perform their duties, and shall have the following powers: (a) the power to initiate and conduct investigations on their own initiative or based on a complaint; (b) the power to require creditors and debtors to provide all necessary information to conduct investigations related to late payments in commercial transactions; (c) the power to carry out unannounced on-site inspections within the framework of their investigations; (d) the power to take decisions finding an infringement of this Regulation and requiring the debtor to pay interest for late payment as provided for in Article 5 or requiring the debtor to compensate the creditor as provided for in Article 8; (e) the power to impose, or initiate proceedings for the imposition of fines and other penalties and interim measures on the subjects responsible for the infringement; (f) the power to require the debtor to bring the infringement to an end; (g) the power to publish its decisions referred to in paragraphs (d), (e) and (f). 2. Member States shall lay down the rules on penalties applicable to infringements of this Regulation and shall take all measures necessary to ensure that they are implemented. The penalties provided for shall be effective, proportionate and dissuasive. 3. Member States shall, [by …/without delay], notify the Commission of those rules and of those measures and shall notify it, without delay, of any subsequent amendment affecting them.deleted
2023/12/15
Committee: IMCO
Amendment 357 #

2023/0323(COD)

Proposal for a regulation
Article 15
Article 15 Complaints and confidentiality 1. Creditors may address complaints either to the enforcement authority of the Member State in which they are established or to the enforcement authority of the Member States in which the debtor is established. The enforcement authority to which the complaint is addressed shall be competent to enforce this Regulation. 2. Organisations officially recognised as representing creditors or organisations with a legitimate interest in representing undertakings shall have the right to submit a complaint to the enforcement authorities referred to in Article 13 at the request of one or more of their members or, where appropriate, at the request of one or more members of their member organisations, where those members consider that they have been affected by an infringement of this Regulation. 3. Where the complainant so requests, the enforcement authority shall take the necessary measures for the appropriate protection of the identity of the complainant. The complainant shall identify any information for which it requests confidentiality. 4. The enforcement authority that receives the complaint shall inform the complainant within a reasonable period of time after the receipt of the complaint of how it intends to follow up on the complaint. 5. Where an enforcement authority considers that there are insufficient grounds for acting on a complaint, it shall inform the complainant of the reasons of its decision within a reasonable period of time after the receipt of the complaint. 6. Where an enforcement authority considers that there are sufficient grounds for acting on a complaint, it shall initiate, conduct and conclude an investigation of the complaint within a reasonable period of time. 7. Where an enforcement authority finds that a debtor has infringed this Regulation, it shall require the debtor to bring the illegal practice to an end.deleted
2023/12/15
Committee: IMCO
Amendment 381 #

2023/0323(COD)

Proposal for a regulation
Article 17 – paragraph 2
2. Member States shall ensure that credit management tools, including factoring and similar financing services, and financial literacy trainings are available and accessible to small and medium sized enterprises, including on the use of digital tools for timely payments.
2023/12/15
Committee: IMCO
Amendment 81 #

2023/0321(CNS)

Proposal for a directive
Recital 2
(2) The existence of 27 different corporate income tax systems in the Union gives rise to complexity in tax compliance and leads to unfair competition for businesses. That has become more evident as globalisation and digitalisation of the economy have significantly altered the perception of land borders and business models. As governments have tried to adapt to that new reality, a fragmented response among Member States has led to further distortions in the internal market. The various legal frameworks inevitably lead to different tax administration practices across the Member States as well. This often entails long procedures characterised by unpredictability and inconsistency along with high compliance costs which undermine the competitiveness of our enterprises and the liberation of energy.
2024/01/18
Committee: ECON
Amendment 86 #

2023/0321(CNS)

Proposal for a directive
Recital 3
(3) Albeit different in their design, the fundamental features of corporate income tax systems are similar as they lay down rules aiming towards the same objective, i.e., to arrive at a taxable base for businesses. In this vein, it would be important for businesses which operate on the internal market that Member States introduce a common legal framework to harmonise the fundamental features of corporate income tax systems with a view to simplifying tax rules, reducing the administrative burden and ensuring a fair competition.
2024/01/18
Committee: ECON
Amendment 91 #

2023/0321(CNS)

Proposal for a directive
Recital 5
(5) The environment for doing business in the internal market should be made more attractive with the aim to stimulate growth and investment in the Union. For this purpose, the enactment of a common framework of corporate tax rules should be prioritised, in order to make it easier for businesses to comply with such rules when they operate across borders and also to encourage those who wish to further expand abroad to do so. A single set of corporate tax rules for international activity is expected to result in enhanced tax certainty and less tax disputes, as it would tackle distortions and decrease the number of cases of double and over-taxation. The harmonisation of rules should aim at reducing tax avoidance practices by creating a business-friendly environment, reducing aggressive tax policies and implementing investment-friendly and innovation-friendly tax policies. Furthermore, as tax revenue sustainability is key to Member States’ budgets, including to invest in infrastructure, research and development and to deliver public services, it would be critical to ensure for the future that the allocation of revenues is performed in accordance with a tool based on solid parameters that cannot be abused.
2024/01/18
Committee: ECON
Amendment 138 #

2023/0321(CNS)

Proposal for a directive
Recital 17
(17) A common framework for corporate taxation would necessarily feature an administration system, which should ideally provide for a degree of tax certainty and simplification. To promote uniformity, the administration system would have to build on the importance of operating a centralised point of reference for dealing with a number of common issues, such as an Information Return for the entire group, and ensuring an adequate degree of coordination, security, confidentiality and collaboration amongst national tax administrations. At the same time, the administration system should fully respect national tax sovereignty as local tax returns, audits and dispute settlement would have toill remain primarily at the level of the Member States.
2024/01/18
Committee: ECON
Amendment 147 #

2023/0321(CNS)

Proposal for a directive
Recital 21 a (new)
(21a) Each BEFIT group should have a filing entity, which should determine the country of the filing authority and the competent tax authority which will lead the BEFIT team. For the sake of consistency, the filing authority should be based in the Member State where the parent company of the BEFIT group is resident for tax purposes. When the BEFIT group is owned by a firm headquartered in a third country, the filing entity should be the European intermediate parent undertaking, where there is one.
2024/01/18
Committee: ECON
Amendment 151 #

2023/0321(CNS)

Proposal for a directive
Recital 24
(24) To allow businesses to directly enjoy the benefits of the internal market without incurring an unnecessary additional administrative burden, information on the tax provisions set out in this Directive should be made accessible through the Single Digital Gateway (‘SDG’) in accordance with Regulation (EU) 2018/17248 . The SDG provides a one-stop-shop for cross-border users for the online provision of information, procedures and assistance services relevant to the smooth functioning of the internal market. _________________ 8 Regulation (EU) 2018/1724 of the European Parliament and of the Council of 2 October 2018 establishing a single digital gateway to provide access to information, to procedures and to assistance and problem-solving services and amending Regulation (EU) No 1024/2012 (OJ L 295, 21.11.2018, p. 1).
2024/01/18
Committee: ECON
Amendment 184 #

2023/0321(CNS)

Proposal for a directive
Article 3 – paragraph 1 – point 15
(15) ‘economic owner’ means the person who receives substantiallyin large part all the benefits and bears allmost of the risks attached to a fixed asset, regardless of whether that person is the legal owner. A taxpayer who has the right to possess, use and dispose of a fixed asset and bears the risk of its loss or destruction shall in any event be considered the economic owner;
2024/01/18
Committee: ECON
Amendment 125 #

2023/0212(COD)

Proposal for a regulation
Recital 3
(3) Central bank money in the form of banknotes and coins cannot be used for online payments. Today, online payments rely entirely on commercial bank money. The acceptability and fungibility of commercial bank money rely on its convertibility on a one-to-one basis to central bank money with legal tender, which serves as a monetary anchor. That monetary anchor is at the core of the functioning of monetary and financial systems. It underpins users’ confidence in commercial bank money and in the euro as a currency and is therefore essential to safeguard the stability of the monetary system in a digitalised economy and society. As central bank money in physical form alone cannot address the needs of a rapidly digitalising economy, this could gradually remove the monetary anchor for commercial bank money. It is therefore necessarypossible to introduce a new form of official currency with legal tender which is risk free and helps visualise the convertibility at par of the money issued by various commercial banks.
2024/02/21
Committee: ECON
Amendment 125 #

2023/0212(COD)

Proposal for a regulation
Recital 3
(3) Central bank money in the form of banknotes and coins cannot be used for online payments. Today, online payments rely entirely on commercial bank money. The acceptability and fungibility of commercial bank money rely on its convertibility on a one-to-one basis to central bank money with legal tender, which serves as a monetary anchor. That monetary anchor is at the core of the functioning of monetary and financial systems. It underpins users’ confidence in commercial bank money and in the euro as a currency and is therefore essential to safeguard the stability of the monetary system in a digitalised economy and society. As central bank money in physical form alone cannot address the needs of a rapidly digitalising economy, this could gradually remove the monetary anchor for commercial bank money. It is therefore necessarypossible to introduce a new form of official currency with legal tender which is risk free and helps visualise the convertibility at par of the money issued by various commercial banks.
2024/02/21
Committee: ECON
Amendment 135 #

2023/0212(COD)

Proposal for a regulation
Recital 6
(6) The digital euro should complement euro banknotes and coins and shouldmust not replace the physical forms of the single currency. As legal tender instruments, both cash and digital euro are equally important. Regulation (EU) [please insert reference – proposal for a Regulation on the legal tender of euro banknotes and coins - COM/2023/364] would harmonise legal tender for cash and ensure that cash is widely distributed and effectively used.
2024/02/21
Committee: ECON
Amendment 135 #

2023/0212(COD)

Proposal for a regulation
Recital 6
(6) The digital euro should complement euro banknotes and coins and shouldmust not replace the physical forms of the single currency. As legal tender instruments, both cash and digital euro are equally important. Regulation (EU) [please insert reference – proposal for a Regulation on the legal tender of euro banknotes and coins - COM/2023/364] would harmonise legal tender for cash and ensure that cash is widely distributed and effectively used.
2024/02/21
Committee: ECON
Amendment 247 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)
7a. ‘liquidity providing intermediary” means a payment services provider, as defined in paragraph 7, that holds the commercial bank account linked to the digital euro payment account, whether for the payer or the payee. The liquidity providing intermediary may be different from the payment services provider holding the digital euro payment account.
2024/02/21
Committee: ECON
Amendment 247 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)
7a. ‘liquidity providing intermediary” means a payment services provider, as defined in paragraph 7, that holds the commercial bank account linked to the digital euro payment account, whether for the payer or the payee. The liquidity providing intermediary may be different from the payment services provider holding the digital euro payment account.
2024/02/21
Committee: ECON
Amendment 313 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 1 – subparagraph 1 – introductory part
Within the framework of Directive 2015/2366, all payment service providers mayshall provide the digital euro payment services set out in Annex I to:
2024/02/21
Committee: ECON
Amendment 313 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 1 – subparagraph 1 – introductory part
Within the framework of Directive 2015/2366, all payment service providers mayshall provide the digital euro payment services set out in Annex I to:
2024/02/21
Committee: ECON
Amendment 317 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. Payment service providers that provide servicing payment services within the meaning of Directive 2015/2366 shall enable digital euro usersclients to whom they provide a digital euro payment account to manually or automatically fund or defund their digital euro payment accounts from or to non- digital euro payment accounts, or euro banknotes and coins when a payment services provider provides cash services, subject to any limitations that the European Central Bank may adopt in accordance with Article 16 of this Regulation.
2024/02/21
Committee: ECON
Amendment 317 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. Payment service providers that provide servicing payment services within the meaning of Directive 2015/2366 shall enable digital euro usersclients to whom they provide a digital euro payment account to manually or automatically fund or defund their digital euro payment accounts from or to non- digital euro payment accounts, or euro banknotes and coins when a payment services provider provides cash services, subject to any limitations that the European Central Bank may adopt in accordance with Article 16 of this Regulation.
2024/02/21
Committee: ECON
Amendment 337 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 4 a (new)
4a. Account holder PSPs that allow third party wallet providers to offer the waterfall and reverse waterfall services shall be compensated for the costs of providing these services. Payment service providers that provide CBDC wallets and perform the strong authentication of the payer (SCA) are fully responsible for the potential fraud generated under their control and shall immediately and automatically compensate the account holder PSP debited by reverse waterfall on first request (in the event of a dispute generated by the payer). The volumes of automatic movements of "funding" and "defunding" shall be limited, according to the account holder PSP analysis, to mitigate this risk.
2024/02/21
Committee: ECON
Amendment 337 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 4 a (new)
4a. Account holder PSPs that allow third party wallet providers to offer the waterfall and reverse waterfall services shall be compensated for the costs of providing these services. Payment service providers that provide CBDC wallets and perform the strong authentication of the payer (SCA) are fully responsible for the potential fraud generated under their control and shall immediately and automatically compensate the account holder PSP debited by reverse waterfall on first request (in the event of a dispute generated by the payer). The volumes of automatic movements of "funding" and "defunding" shall be limited, according to the account holder PSP analysis, to mitigate this risk.
2024/02/21
Committee: ECON
Amendment 351 #

2023/0212(COD)

Proposal for a regulation
Article 14 – paragraph 1
1. For the purpose of distributing the digital euro to natural persons referred to in Article 13(1)(a), credit institutions that provide payment services as referred to in points (1), (2) or (3) of Annex I to Directive (EU) 2015/2366 shall, upon request of their clients only, provide those persons with all basic digital euro payment services as referred to in Annex II.
2024/02/21
Committee: ECON
Amendment 351 #

2023/0212(COD)

Proposal for a regulation
Article 14 – paragraph 1
1. For the purpose of distributing the digital euro to natural persons referred to in Article 13(1)(a), credit institutions that provide payment services as referred to in points (1), (2) or (3) of Annex I to Directive (EU) 2015/2366 shall, upon request of their clients only, provide those persons with all basic digital euro payment services as referred to in Annex II.
2024/02/21
Committee: ECON
Amendment 369 #

2023/0212(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. With a view to enabling natural and legal persons to access and use digital euro, to defining and implementing monetary policy and to contributing to the stability of the financial system, the use of the digital euro as a store of value mayshall be subject to limits. The Digital Euro aims to be a digital substitute for cash. Considering the possible use of automated fund transfers between central bank and commercial bank accounts, the Digital Euro holding limit shall correspond to the daily uses of cash. In this regards, an amount of 100 Euros as a holding limit is consistent with the daily usages.
2024/02/21
Committee: ECON
Amendment 369 #

2023/0212(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. With a view to enabling natural and legal persons to access and use digital euro, to defining and implementing monetary policy and to contributing to the stability of the financial system, the use of the digital euro as a store of value mayshall be subject to limits. The Digital Euro aims to be a digital substitute for cash. Considering the possible use of automated fund transfers between central bank and commercial bank accounts, the Digital Euro holding limit shall correspond to the daily uses of cash. In this regards, an amount of 100 Euros as a holding limit is consistent with the daily usages.
2024/02/21
Committee: ECON
Amendment 457 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 2 – subparagraph 1 (new)
Payment service providers should be able to charge services up to the costs incurred, in order to avoid any distortion of competition rules.
2024/02/21
Committee: ECON
Amendment 457 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 2 – subparagraph 1 (new)
Payment service providers should be able to charge services up to the costs incurred, in order to avoid any distortion of competition rules.
2024/02/21
Committee: ECON
Amendment 491 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 a (new)
7a. In the case where the payment service provider of the payee is different from the liquidity providing intermediary as defined in article 2 paragraph 7a, a share of the merchant service charge applied by the payment service provider of the payee is transferred to the liquidity providing intermediary
2024/02/21
Committee: ECON
Amendment 491 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 a (new)
7a. In the case where the payment service provider of the payee is different from the liquidity providing intermediary as defined in article 2 paragraph 7a, a share of the merchant service charge applied by the payment service provider of the payee is transferred to the liquidity providing intermediary
2024/02/21
Committee: ECON
Amendment 492 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 b (new)
7b. In the case where the payment services provider of the payer is different from the liquidity providing intermediary, as defined in article 2 paragraph 7a, a share of the fees applied by the payment service provider of the payer is transferred to the liquidity providing intermediary.
2024/02/21
Committee: ECON
Amendment 492 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 b (new)
7b. In the case where the payment services provider of the payer is different from the liquidity providing intermediary, as defined in article 2 paragraph 7a, a share of the fees applied by the payment service provider of the payer is transferred to the liquidity providing intermediary.
2024/02/21
Committee: ECON
Amendment 493 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 c (new)
7c. The fees applicable in cases described in paragraph 7a and 7b shall be based on the relevant costs incurred by the credit institution holding the commercial bank account.
2024/02/21
Committee: ECON
Amendment 493 #

2023/0212(COD)

Proposal for a regulation
Article 17 – paragraph 7 c (new)
7c. The fees applicable in cases described in paragraph 7a and 7b shall be based on the relevant costs incurred by the credit institution holding the commercial bank account.
2024/02/21
Committee: ECON
Amendment 552 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – introductory part
Payment service providers distributing the digital euro shall provide digital euro users with the choice of using the following digital front-end services to allow digital euro users to access and use digital euro payment services and have the option to provide :
2024/02/21
Committee: ECON
Amendment 552 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – introductory part
Payment service providers distributing the digital euro shall provide digital euro users with the choice of using the following digital front-end services to allow digital euro users to access and use digital euro payment services and have the option to provide :
2024/02/21
Committee: ECON
Amendment 555 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – point a
(a) front-end services developed by payment service providers; andor
2024/02/21
Committee: ECON
Amendment 555 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – point a
(a) front-end services developed by payment service providers; andor
2024/02/21
Committee: ECON
Amendment 157 #

2023/0210(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point j – point iii
(iii) instruments valid only in a single Member State, which are provided at the request of an undertaking or a public sector entity and regulated by a national or regional public authority for specific social or tax purposes to acquire specific goods or services from suppliers having a commercial agreement with the issuer which cannot be converted into cash;
2023/12/04
Committee: ECON
Amendment 183 #

2023/0205(COD)

Proposal for a regulation
Recital 14
(14) Customer data related to the provision of non-life insurance are essential to enable insurance products and services important to the needs of customer like the protection of homes, vehicles, and other property. At the same time, the collection of such data is often burdensome and costlycostly for advisers, distributors of investment products, pension products, insurance- based investment products and non-lifre insurance products, and often burdensome for customers and can act as a deterrent against seeking optimal insurance coverage by customers. To address this problem, it is therefore necessary to include such financial services within the scope of this Regulation. Customer data on insurance products within scope of this Regulation should include both insurance product information such as detail on an insurance coverage and data specific to the consumers’ insured assets which are collected for the purposes of a demands and needs test. The sharing of such data should allow for the development of personalised tools for customers, such as insurance dashboards that could help consumers better manage their risks. It could also help customers to obtain products that are better targeted to their demands and needs, including through more valuable advice. This can contribute to more optimal insurance coverage for customers and increased financial inclusion of otherwise underserved consumers, by offering new or increased coverage. Moreover, the sharing of insurance data can be beneficial for more efficient supply of insurance including, in particular, at the stages of product design, underwriting, contract execution, including claims management, and risk mitigation.
2024/02/02
Committee: ECON
Amendment 249 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point e
(e) non-life insurance products in accordance with Directive 2009/138/EC, with the exception of sickness and health insurance products; and other insurance products involving health data, such as accident insurance, disability insurance, long-term care insurance;including data collected for the purposes of a demands and needs assessment in accordance with Article 20 of Directive (EU) 2016/97 of the European Parliament and Council34 , and data collected for the purposes of an appropriateness and suitability assessment in accordance with Article 30 of Directive (EU) 2016/97. _________________ 34 Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) (OJ L 26, 2.2.2016, p. 19–5)
2024/02/02
Committee: ECON
Amendment 262 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point j
(j) insurance intermediaries and ancillary insurance intermediaries;
2024/02/02
Committee: ECON
Amendment 276 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 3 a (new)
3 a. By way of derogation from paragraph 3, this Regulation shall apply to entities referred to in Article 2(3), point (e) of Regulation (EU) 2022/2554 to the condition that these entities prove they comply with the proportionate provisions established for microenterprises laid down down in in the the Regulation (EU) 2022/2554.
2024/02/02
Committee: ECON
Amendment 289 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 4 a (new)
4 a. This Regulation does not apply to trade secrets, business-sensitive information or proprietary data that the financial institution has generated or enriched.
2024/02/02
Committee: ECON
Amendment 292 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 4 b (new)
4 b. This Regulation applies to data held by retail customers only and does not apply to the sharing of data of commercial customers.
2024/02/02
Committee: ECON
Amendment 301 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3
(3) ‘customer data’ means personal and non-personal data, provided by the customer (directly or observed) that is collected, stored and otherwise processed by a financial institution as part of their normal course of business with customers which covers both the relevant personal data provided by a customer and data generated as a result of customer interaction with the financial institutionrelevant product information, such as the information contained in the insurance product information document (IPID); This should not include trade secrets or proprietary data of the financial institution; Data generated by a financial institution, by processing data provided directly by the customer shall not, in any case, be considered as customer;
2024/02/02
Committee: ECON
Amendment 322 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 7
(7) financial information service provider’ means a data user established in the European Union that is authorised under Article 14 to access the customer data listed in Article 2(1) for the provision of financial information services only. Any undertaking designated as a gatekeeper, pursuant to Article 3 of Regulation (EU) 2022/1925 on contestable and fair markets in the digital sector (Digital Markets Act), shall not be eligible as a financial information service provider under this Regulation;
2024/02/02
Committee: ECON
Amendment 329 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 7 a (new)
(7 a) "financial information services” means an online service to provide consolidated information on one or more categories of customer financial data listed in Article 2(1);
2024/02/02
Committee: ECON
Amendment 344 #

2023/0205(COD)

Proposal for a regulation
Article 4 – paragraph 1
The data holder shall, upon request from a customer submitted by electronic means, make the data listed in Article 2(1) available to the customer without undue delay, free of charge, continuously and in real-time, where appropriate in the circumstances.
2024/02/02
Committee: ECON
Amendment 352 #

2023/0205(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. The data holder shall, upon request from a customer submitted by electronic means, make available to a data user the customer data listed in Article 2(1) for the purposes for which the customer has granted permission to the data user. The customer data shall be made available to the data user without undue delay, continuously and in real-time, where appropriate in the circumstances.
2024/02/02
Committee: ECON
Amendment 360 #

2023/0205(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. A data holder may claim compensation from a data user for making customer data available pursuant to paragraph 1 only if the customer data is made available to a data user in accordance with the rules and modalities of a financial data sharing scheme, as provided in Articles 9 and 10, or if it is made available pursuant to Article 11. This is without prejudice to accessing, sharing and using data on a purely contractual basis without making use of the data-access obligations established by this Regulation.
2024/02/02
Committee: ECON
Amendment 363 #

2023/0205(COD)

Proposal for a regulation
Article 5 – paragraph 3 a (new)
3 a. Any undertaking designated as a gatekeeper, pursuant to Article 3 of Regulation (EU) 2022/1925 on contestable and fair markets in the digital sector (Digital Markets Act), shall not be an eligible third party under this Regulation and the data holder shall not therefore grant access to customer data to such entities.
2024/02/02
Committee: ECON
Amendment 448 #

2023/0205(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Within 18 month5 years from the entry into force of this Regulation, data holders and data users shallmay become members of a financial data sharing scheme governing access to the customer data in compliance with Article 10.
2024/02/02
Committee: ECON
Amendment 455 #

2023/0205(COD)

Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
Data holders and data users may become members of more than one financial data sharing schemes.one or more financial data sharing schemes to share data in accordance with the rules and modalities of a financial data sharing scheme of which both the data user and the data holder are members
2024/02/02
Committee: ECON
Amendment 456 #

2023/0205(COD)

Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Any sharing of data shall be made in accordance with the rules and modalities of a financial data sharing scheme of which both the data user and the data holder are members.deleted
2024/02/02
Committee: ECON
Amendment 472 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h
(h) a financial data sharing scheme shall establish a model to determine the maximum compensation that a data holder is entitled to charge for making data available through an appropriate technical interface for data sharing with data users in line with the common standards developed under point (g). The model shall be based on the following principles: (i) it should be limited to reasonable compensation directly related to making the data available to the data user and which is attributable to the request; (ii) it should be based on an objective, transparent and non-discriminatory methodology agreed by the scheme members; (iii) it should be based on comprehensive market data collected from data users and data holders on each of the cost elements to be considered, clearly identified in line with the model; (iv) it should be periodically reviewed and monitored to take account of technological progress; (v) it should be devised to gear compensation towards the lowest levels prevalent on the market; and (vi) it should be limited to the requests for customer data under Article 2(1) or proportionate to the related datasets in the scope of that Article in the case of combined data requests.deleted
2024/02/02
Committee: ECON
Amendment 488 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h a (new)
(h a) Any compensation agreed upon between a data holder and a data user for making data available in business-to- business relations shall be non- discriminatory and reasonable and may include a margin.The data holder and the data user shall take into account in particular: (a) the costs incurred for making the data available, including, in particular, the costs necessary for the formatting of data, dissemination via electronic means and storage; (b) the investment in the collection and production of data, where applicable, taking into account whether other parties contributed to the obtaining, generating or collecting the data in question.
2024/02/02
Committee: ECON
Amendment 501 #

2023/0205(COD)

Proposal for a regulation
Article 11
Article 11 Empowerment for Delegated Act in the event of absence of a financial data sharing scheme In the event that a financial data sharing scheme is not developed for one or more categories of customer data listed in Article 2(1) and there is no realistic prospect of such a scheme being set up within a reasonable amount of time, the Commission is empowered to adopt a delegated act in accordance with Article 30 to supplement this Regulation by specifying the following modalities under which a data holder shall make available customer data pursuant to Article 5(1) for that category of data: (a) common standards for the data and, where appropriate, the technical interfaces to allow customers to request data sharing under Article 5(1); (b) a model to determine the maximum compensation that a data holder is entitled to charge for making data available; (c) the liability of the entities involved in making the customer data available.deleted
2024/02/02
Committee: ECON
Amendment 476 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
1. Member States shall ensure that investment firms, when providing portfolio management, do not pay or receive anyaccept and retain fee ors, commission, or provide or are provided with any non-monetary benefit, in connection with the provision of such service, tos or any monetary or non-monetary benefits paid or provided by any third party or a person acting orn by any party except the client or a person on behalf of theehalf of a third party in relation to the provision of the service to clients.
2023/11/09
Committee: ECON
Amendment 481 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 2
2. Member States shall ensure that investment firms, when providing reception and transmission of orders or execution of orders to or on behalf of retail clients, do not pay or receive any fee or commission, or provide or are provided with any non-monetary benefit in connection with the provision of such services, to or from any third-party responsible for the creation, development, issuance or design of any financial instrument on which the firm provides such execution or reception and transmission services, or any person acting on behalf of that third-party.deleted
2023/11/09
Committee: ECON
Amendment 492 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 3
3. Paragraph 2 shall not apply to investment firms, when providing investment advice on a non-independent basis relating to one or more transactions of that client covered by that advice.deleted
2023/11/09
Committee: ECON
Amendment 505 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 4 – subparagraph 1
Paragraph 2 shall not apply to fees or any other remuneration received from or paid to an issuer by an investment firm performing for that issuer one of the services referred to in Annex I, Section A, points 6 and 7, where the investment firm also provides to retail clients any of the investment services referred to in paragraph 2 and relating to the financial instruments subject to the placing or underwriting services.deleted
2023/11/09
Committee: ECON
Amendment 510 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 4 – subparagraph 2
This paragraph shall not apply to financial instruments that are packaged retail investment products as referred to Article 4, point (1), of Regulation (EU) No 1286/2014.deleted
2023/11/09
Committee: ECON
Amendment 518 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 5
5. Paragraphs 1 and 2 shall not apply to the minor non-monetary benefits of a total value below EUR 100 per annum or of a scale and nature such that they could not be judged to impair compliance with the investment firm’s duty to act in the best interest of the client, provided that they have been clearly disclosed to the client.
2023/11/09
Committee: ECON
Amendment 534 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 8
8. ThreFive years after the date of entry into force ofend of the transposition period for Directive (EU) [OP Please introduce the number of the amending Directive] and after having consulted ESMA and EIOPA, the Commission shall assess the effects of third-party payments on retail investors, in particular in view of potential conflicts of interest and as regards the availability of independent advice, and shall evaluate the impact of the relevant provisions of Directive (EU) [OP Please introduce the number of the amending Directive] on it. If necessary to prevent consumer detriment, the Commission shall propose legislative amendments to the European Parliament and the Council.
2023/11/09
Committee: ECON
Amendment 943 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 a – paragraph 1 – subparagraph 1
Member States shall ensure that insurance intermediaries or insurance undertakings that manufacture insurance-based investment products or distribute such products in accordance with Article 30(2) and (3) do not pay or receive any fee or commission, or provide or are provided with any non-monetary benefit with regard to the provision or distribution of an insurance based investment product, to or by any party except the customer or a person on behalf of the customer.deleted
2023/11/09
Committee: ECON
Amendment 25 #

2015/0270(COD)

Proposal for a regulation
Recital 10
(10) Despite the further harmonisation introduced by the Directive 2014/49/EU, national DGSs retain certain options and discretions, including with respect to certain essential elements like target levels, risk factors to be applied when assessing credit institutions’ contributions, and repayment periods or the use of funds. Those differences between national rules may obstruct the free provision of services and create distortions of competition. In a highly integrated banking sector, uniformity of rules and approaches is needed to ensure a consistently robust level of protection of depositors throughout the Union and so guarantee the objective of financial stability.
2024/03/13
Committee: ECON
Amendment 57 #

2015/0270(COD)

Proposal for a regulation
Recital 22
(22) Safeguards should be built into EDIS so as to limit moral hazard risk and to ensure that the coverage by EDIS is only provided where nationals DGSs act in a prudent manner. Firstly, national DGSs should comply with their obligations under this Regulation, the Directive 2014/49/EU and other relevant EU law, in particular their obligation to build up their funds in accordance with Article 10 of Directive 2014/49/EU as further specified in this Regulation. In order to benefit from coverage by EDIS, participating DGSs need to raise ex-ante contributions in accordance with a precise funding path. This also implies that the possibility of a target level reduction in accordance with Article 10(6) of Directive 2014/49/EU is no longer available if the DGS wants to benefit from EDIS. Secondly, in case of a pay-out event or where its funds are used in resolution, a national DGS should bear a fair share of the loss themselves. It should therefore be required to collect ex-post contributions from its members to replenish its fund and to repay EDIS to the extent that the initially received funding exceeds the share of loss to be borne by EDIS. Thirdly, following a pay-out event, the national DGS should maximise the proceeds from the insolvency estate and repay the Board and the Board should have sufficient powers to safeguards its rights. Fourthly, the Board should have the powers to recover all or part of funding in case of a participating DGS did not comply with key obligations.
2024/03/13
Committee: ECON
Amendment 60 #

2015/0270(COD)

Proposal for a regulation
Recital 29
(29) The initial and final target level of the Deposit Insurance Fund should be established as a percentage of the total minimum target levels of participating DGS. It should progressively reach 20% of four ninth of the total minimum target levels by the end of the reinsurance period and the sum of all minimum target levels by the end of the co-insurance period. The possibility to apply for approval to authorise a lower target level in accordance with Article 10(6) of Directive 2014/49/EU should not be considered when setting the initial or final target levels of the Deposit Insurance Fund. An appropriate time frame should be set to reach the target level for the Deposit Insurance Fund.
2024/03/13
Committee: ECON
Amendment 97 #

2015/0270(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 1 – point a
(a) credit institutions established in a participating Member State, including institutions that are members of an institutional protection scheme as referred to in Article 113(7) of Regulation No 575/2013 [CRR];
2024/03/13
Committee: ECON
Amendment 106 #

2015/0270(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 2 – subparagraph 1 – point a
(a) participating deposit-guarantee schemes as defined in point (1) of Article 3(1a); including institutional protection schemes as referred to in Article 113(7) of Regulation No 575/2013 [CRR];
2024/03/13
Committee: ECON
Amendment 246 #

2015/0270(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 1
1. By the end of the reinsurance period[5 years from the date of entry into force of this amending Regulation] the available financial means of the DIF shall reach an initial target level of 20% of four ninthof the sum of the5%of the aggregated minimum target levelsthat participating DGSs shall reach in accordance with the first subparagraphArticle 10(2) of Directive 2014/49/EU, while the available financial means of participating DGS shall reach 75% of this aggregated minimum target level. By way of derogation from subparagraph 1, where a lower minimum target level has been authorised in application of Article 10(26) of Directive 2014/49/EU, the available financial means of the participating DGSs shall reach 60% of that lower target level.
2024/03/13
Committee: ECON