42 Amendments of Bruno GONÇALVES related to 2024/2055(INI)
Amendment 1 #
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 2 #
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
– having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 3 #
Motion for a resolution
Citation 19 a (new)
Citation 19 a (new)
– having regard to the standards of the Basel Committee on Banking Supervision on the prudential treatment of cryptoasset exposures, of 16 December 2022,
Amendment 6 #
Motion for a resolution
Citation 24 a (new)
Citation 24 a (new)
– having regard to the ECB Occasional Paper Series 'The Road to Paris: stress testing the transition towards a net-zero economy',
Amendment 7 #
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
– having regard to the Eurogroup statement of 16 June 2022 on the future of the Banking Union,
Amendment 9 #
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU) encompasses the Single Supervisory Mechanism, the Single Resolution Mechanism and high minimum standards in the area of deposit insurancethe European Deposit and Insurance Scheme (EDIS); whereas, despite its Committee on Economic and Monetary Affairs adopted a report on the Commission’s proposal to establish a European deposit insurance scheme in April 2024, the Banking Union remains incomplete; whereas the creation of an EDIS is not only a requirement for the completion of the BU but also crucial for the mitigation of the risk exposure of the financial sector;
Amendment 15 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the EU should ensure timely, full and faithful implementation of Basel III standards;
Amendment 17 #
Motion for a resolution
Recital B
Recital B
B. whereas a completed BU would improve the competfully developed BU would be a positive development for citivzeness and stability of the banking sector and consumer choice, and facilitate access to financingthe EU economy, providing the basis for a more stable banking system, reduction of systemic risk, enhanced competition, improved consumer choice and protection, increased opportunities for cross-border banking and access to retail financial services, greater economic investment, better access to funding for households and businesses, and lower costs for banks’ customers, while ensuring that public funds are not used to bail out the banking sector; whereas the 'too big to fail' risk has not yet been fully addressed;
Amendment 28 #
Motion for a resolution
Recital D
Recital D
D. whereas a strong banking sector is key to delivering economic growth, increasing the possibility of homeownership, fostering investment and job creation, financing small and medium- sized enterprises (SMEs) and start-ups and ensuring the transition to a green and digital economy;
Amendment 36 #
Motion for a resolution
Recital E
Recital E
E. whereas in April 2024, it adopted its position on the review of the crisis management and deposit insurance framework; whereas the CMDI should not be considered as a replacement for an EDIS;
Amendment 37 #
Motion for a resolution
Recital F
Recital F
Amendment 39 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
F a. whereas consumers of banking services should be better protected by granting them access to transparent fee structures, fair lending practices, and enhanced customer data protection;
Amendment 41 #
Motion for a resolution
Recital F b (new)
Recital F b (new)
F b. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;
Amendment 42 #
Motion for a resolution
Recital F c (new)
Recital F c (new)
F c. whereas financial institutions rely increasingly on the use of information and communications technology (ICT); whereas the EU banking sector must increase its cyber resilience to ensure that ICT systems can withstand various types of cyber security threats;
Amendment 43 #
Motion for a resolution
Recital F d (new)
Recital F d (new)
F d. whereas the digitalisation of finance provides important opportunities for the banking sector and has brought about important technological advances in the EU banking sector through increased efficiency in the provision of banking services and a greater appetite for innovation; whereas it also poses challenges, including with regard to data protection, reputational risks, anti-money laundering (AML), and consumer protection concerns;
Amendment 44 #
Motion for a resolution
Recital F e (new)
Recital F e (new)
F e. whereas interest rate hikes have had a negative impact on the borrowing capacity of households and the capacity of borrowers to repay debt and make EU banks vulnerable to potential losses in the future; whereas risks stemming from interest rate hikes have been so far properly addressed;
Amendment 45 #
Motion for a resolution
Recital F f (new)
Recital F f (new)
F f. whereas EU banks have withstood the impact of Russian aggression; whereas they play a pivotal role in ensuring the ongoing implementation of and compliance with the sanctions imposed by the EU against Russia in response to the invasion; whereas further coordination is needed to avoid circumvention of sanctions;
Amendment 46 #
Motion for a resolution
Recital F g (new)
Recital F g (new)
F g. whereas climate change, environmental degradation and the transition to a low-carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors;
Amendment 47 #
Motion for a resolution
Recital F h (new)
Recital F h (new)
F h. whereas the EU and the UK have signed a Memorandum of Understanding on Financial Services Regulatory Cooperation, and this cooperative approach should underpin long-term EU- UK relations particularly in the area of banking; whereas the Commission has again extended its temporary permit allowing EU banks and fund managers to use UK clearing houses;
Amendment 49 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Asks the Commission to ensure that the completion of BUthe BU and the Capital Markets Union remains a key priorityies; highlights that bothis projects offers households and SMEs access to broader funding, increases financial stability, reduces the impact of economic downturns, funds the transition to a green and digital economy and unlocks the EU’s growth potential;
Amendment 57 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Calls on the Commission to create a database at EU level to foster access to information and coordination among sanctions enforcement authorities in Members States and help close gaps in targeted sanctions implementation; highlights AMLA’s role in supporting sanctions implementation and in detecting risks of sanctions evasion;
Amendment 70 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 86 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Acknowledges that EU banks still operating in Russia have downsized their activity; calls on supervisory institutions to further assisensure that those banks in pushing ahead with exiting the Russian market;
Amendment 89 #
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 101 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buyback was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buyback in times of crisis;
Amendment 106 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 109 #
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Recalls that the IMF's World Financial Stability Report published in October 2024 identifies the non-bank financial sector as a potential source of risk, citing its interconnections, the possible mismatch of liquidity, and the lack of transparency;
Amendment 110 #
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Highlights the role of the banking sector in supporting the transition to a digitalised and carbon neutral economy, in channelling funds to renewable energy sources and in supporting the achievement of the objectives of the EU Green Deal and the EU Climate Law; takes note of EU banks continuing to reduce their exposure to energy intensive and fossil fuel corporates; notes that fossil fuels are the main contributor to accelerating climate change, and that many fossil fuel assets will need to be abandoned before the end of their economic life, losing all of their value and becoming stranded assets;
Amendment 111 #
Motion for a resolution
Paragraph 5 e (new)
Paragraph 5 e (new)
5 e. Regrets the failure of financial institutions to ensure gender-balance, especially in their management bodies; stresses that gender balance on boards and in the workforce brings both societal and economic returns; calls on financial institutions to regularly update their diversity and inclusion policies and to help foster healthy working cultures which prioritise inclusivity; calls on supervisory authorities to make use of their supervisory powers to address the lack of diversity and gender-balance in the management bodies of financial institutions;
Amendment 114 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the competitiveness of EU banks; welcomes, in this regard, the delegated act postponing the date of application of the new market risk framework by one year to 1 January 2026;
Amendment 140 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 172 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Notes that the ECB takes into account climate- and nature-related financial risks in its supervisory practices and monitors growing physical and transition risks closely; welcomes, among other things, the ECB’s second economy- wide climate stress test in September 2023; takes note of the conclusions of the ECB’s Occasional Paper Series No. 328 on ‘The Road to Paris: stress testing the transition towards a net-zero economy’ as it claims that the best way to achieve a net-zero economy for firms, households and banks in the euro area is to accelerate the green transition to a rate that is faster than under current policies;
Amendment 176 #
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12 b. Acknowledges the progresses made over the last 10 years through the establishment of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM); calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 182 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence; notes that small banks do not pose any risks to financial , as well as for the mitigation of any measures which could create excessive moral hazard; highlights that financial stability is best ensured when small and medium-size banks having a positive public interest assessment are given access to EU-level resolution; recalls that the proposed CMDI framework must not be preclude the estabilityshment of an EDIS;
Amendment 189 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that the bail-in of shareholders and creditors must remain the main source for resolution financing before any recourse is made to industry-funded sources;
Amendment 195 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; warns that reductions in this minimum requirement, resulting from specific resolution strategies in the resolution planning phase, could hamper the resolvability of banks;
Amendment 209 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Recalls that banks need to continue to meet their obligations and perform their key functions after the implementation of a resolution decision; is concerned that banks might face liquidity stress in resolution immediately after regaining market access; calls for the EU institutions to agree on a solution that provides confidence and enhances predictability;
Amendment 228 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015, and that the landscape has changed significantly since the; supports the position reached in the ECON Committee in April 2024 regarding EDIS; highlights the need for a fully fledged EDIS with risk-based contributions that enables loss absorption;
Amendment 239 #
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 248 #
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 255 #
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 258 #
Motion for a resolution
Paragraph 25
Paragraph 25