Activities of Corien WORTMANN-KOOL related to 2012/0150(COD)
Plenary speeches (1)
Framework for the recovery and resolution of credit institutions and investment firms - Deposit guarantee schemes (debate)
Amendments (14)
Amendment 276 #
Proposal for a directive
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) ‘resolution’ means the restructuring of an institution in order to ensure the continuity of its essential functions, and preserve financial stability and restin order fore the viability of all or part of that institutioninstitution to be wound down in an orderly manner;
Amendment 314 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Each Member States shall designate one or more resolution authoritiesy that areis empowered to apply the resolution tools and exercise the resolution powers.
Amendment 341 #
Proposal for a directive
Article 3 – paragraph 7
Article 3 – paragraph 7
Amendment 467 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Member States shall ensure that parent undertakings or institutions that are subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC draw up and submit to the consolidating supervisor a group recovery plan that includes a recovery plan for the whole group, including for the companies referred to in points (c) and (d) of Article 1, as well as a recovery plan for each institution that is part of the group. The group recovery plan should include plans for recovery at the level of the parent undertaking subject to consolidated supervision but also at the level of the individual subsidiaries. Any credit institution within the scope of a group recovery plan shall not be obliged to meet the requirements as set out in Article 5.
Amendment 490 #
Proposal for a directive
Article 7 – paragraph 6
Article 7 – paragraph 6
6. The management body of the parent undertaking or institution subject to consolidated supervision referred to in paragraph 1 and the management body of institutions that are part of the group shall approve the group recovery plan before submitting it to the consolidating supervisor.
Amendment 985 #
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
2. Without prejudice to the Union State aid framework, where applicable, the valuation required by paragraph 1 shall be based on prudent and realistic assumptions, including as to rates of default and severity of losses, and its objective shall be to assess the market value of the assets and liabilities of the institution that is failing or is likely to fail so that any losses that could be derived arepresent and future losses are fully recogniszed at the moment the resolution tools are exercised. However, whnd a proper assumption can be made in ordere the market for a specific asset or liability is not functioning properly the valuation may reflect the long term economic value of those assets or liabilitieo allow for the use of resolution tools. Valuation shall not assume the provision of extraordinary public support to the institution, regardless of whether it is actually provided.
Amendment 999 #
Proposal for a directive
Article 30 – paragraph 7 – subparagraph 1 – point d
Article 30 – paragraph 7 – subparagraph 1 – point d
Amendment 1000 #
Proposal for a directive
Article 30 – paragraph 7 – subparagraph 1 – point e
Article 30 – paragraph 7 – subparagraph 1 – point e
Amendment 1062 #
Proposal for a directive
Article 37 – paragraph 3 – subparagraph 1
Article 37 – paragraph 3 – subparagraph 1
Amendment 1068 #
Proposal for a directive
Article 37 – paragraph 3 – subparagraph 2
Article 37 – paragraph 3 – subparagraph 2
Amendment 1164 #
Proposal for a directive
Article 39 – paragraph 2 – point e a (new)
Article 39 – paragraph 2 – point e a (new)
(e a) EBA shall define a separate class of eligible liabilities referred to in paragraph 1. In this case the resolution authorities will exercise the write down and conversion powers first to these liabilities. The resolution authorities will exercise the write down and conversion powers only to other liabilities in case the write down and conversion of this separate class of eligible liabilities is not sufficient to fully fulfil the requirements as defined in Article 37, paragraph 2.
Amendment 1171 #
Proposal for a directive
Article 39 – paragraph 3 – introductory part
Article 39 – paragraph 3 – introductory part
3. The minimum aggregate amount pursuant to paragraph 1 shall be determined on the basis of the following criteria:by EBA setting one harmonized minimum aggregate amount of required bail-in debt for all banks.
Amendment 1608 #
Proposal for a directive
Article 99 – paragraph 2
Article 99 – paragraph 2
2. Unless Member States shall ensure that, under the national law governing normal insolvency proceedingsdecide otherwise, the depositor guarantee schemes rank pari passu withshall rank senior to unsecured non- preferred claims under national law governing insolvency proceedings.
Amendment 1668 #
Proposal for a directive
Annex 1 – section 1 – paragraph 1 – point 8
Annex 1 – section 1 – paragraph 1 – point 8
(8) a detailed description of the processes for determining the value and marketability of the core business lines, operations and assets of the institution and the effectiveness and viability of other potential measures included in the recovery plan;