[ParlTrack]

Proposal for a directive
Article 3 – paragraph 1 – point l a (new)

(la) ‘Total amount of credit’ means the ceiling or the total sums made available under a credit agreement, irrespective of whether they are paid to the consumer or to a third party;

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 3 – paragraph 1 – point r a (new)

(ra) ‘residential immovable property’ means an item of immovable property intended primarily for residential purposes;

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1

Member States shall designate the competent authorities empowered to ensure implementation of this Directive and shall ensure that they are granted all the powers necessary for the performance of their duties. If the Member States implement provisions of this Directive by means of statutory provisions which, under their national law, are not subject to regulatory supervision, they shall not be required to designate a competent authority and/or grant powers to the authority so designated.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 4 – paragraph 1 – subparagraph 2

If authorities are to be designated and have powers conferred on them, Member States shall ensure that the authorities designated as competent for ensuring the implementation of Articles 18, 19, 20 and 21 of this Directive are one of those competent authorities included in Article 4(2) of Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority). By way of derogation, Member States may also designate authorities which are not among the competent authorities included in Article 4(2) of the regulation referred to above, provided that they ensure that the provisions of that regulation relevant to the implementation of Articles 18, 19, 20 and 21 of this Directive apply mutatis mutandis.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 4 – paragraph 2

2. Where there is more than one competent authority on its territory, a Member State shall ensure that those authorities collaborate closely ~~so that they can discharge their respective duties effectively~~.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 6 – paragraph 4

~~4. Powers are~~ delegated to the Commission in accordance with Article 26 and subject to the conditions of Articles 27 and 28, to specify the requirements provided in paragraph 1 and 2 of this Article, and in particular, the necessary requirements for appropriate knowledge and competence.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 10 – paragraph 1 a (new)

1a. Member States shall ensure that the fee, if any, payable by the consumer to the credit intermediary for his services is communicated to the creditor by the credit intermediary, for the purpose of calculation of the annual percentage rate of charge.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 10 – paragraph 3

~~3. Powers are~~ delegated to the Commission in accordance with Article 26 and subject to the conditions of Articles 27 and 28, to update the list of information items on credit intermediaries to be provided to the consumer, as laid down in paragraph 1 of this Article. In particular, the Commission, when adopting such delegated acts shall amend, where necessary, the information items laid down in paragraph 1 of this Article.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 10 – paragraph 4

4. In order to ensure uniform conditions of application of paragraph 1 of this Article, powers are conferred on the Commission to determine, where necessary, a standardised format and the presentation of the information items set out in paragraph 1 of this Article.deleted

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 12 – paragraph 2 – subparagraph 1

For the purpose of calculating the annual percentage rate of charge, the total cost of the credit to the consumer shall be determined ~~excluding~~, with the exception of any charges payable by the consumer for non- compliance with any of his commitments laid down in the credit agreement.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 12 – paragraph 2 – subparagraph 2

WThe~~re the ope~~ costs of maintaining of an account ~~is obligatory in order to obtain the credit, the costs of maintaining such an account~~recording both payment transactions and drawdowns, the costs of using a means of payment for both payment transactions and drawdowns ~~on that account~~, and other costs relating to payment transactions shall be included in the total cost of credit to the consumer, unless the ~~costs~~opening of the account is optional and the costs of the account have been clearly and separately shown in the credit agreement or in any other agreement concluded with the consumer.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 12 – paragraph 4

4. In the case of credit agreements containing clauses allowing variations in the borrowing rate and, where applicable, in the charges contained in the annual percentage rate of charge but unquantifiable at the time of calculation, the annual percentage rate of charge shall be calculated on the assumption that the borrowing rate and other charges will be calculated at the level set at the signature of the contract. Where a fixed borrowing rate has been set for the initial period, the borrowing rate shall be set by reference to that initially determined rate.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 12 – paragraph 5 – subparagraph 1

Powers are delegated to the Commission in accordance with Article 26 ~~and subject to the conditions of Articles 27 and 28, to amend the formula and the assumptions~~to amend the formula used to calculate the annual percentage rate of charge as set out in Annex I.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 12 – paragraph 5 – subparagraph 2

The Commission shall, when adopting such delegated acts, amend, where necessary, the formula ~~or assumptions~~ laid down in Annex I, in particular if the assumptions set out in this Article and in Annex I do not suffice to calculate the annual percentage rate of charge in a uniform manner or are not adapted any more to the commercial situation at the market.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 14 – paragraph 4

4. Further to assessing a consumer’s creditworthiness, Member States shall ensure that creditors and credit intermediaries obtain the necessary information regarding the consumer’s personal and financial situation, his preferences and objectives and consider a sufficiently large number of credit agreements from their product range in order to identify products that are not unsuitable for the consumer given his needs, financial situation and personal circumstances. Such considerations shall be based on information that is up to date at that moment in time and on reasonable assumptions as to the consumer’s situation over the term of the proposed credit agreement.deleted

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 14 – paragraph 5

~~5. Powers are~~ delegated to the Commission in accordance with Article 26 and subject to the conditions of Articles 27 and 28, to specify and amend the criteria to be considered in the conduct of a creditworthiness assessment as laid down in paragraph 1 of this Article and in ensuring that credit products are not unsuitable for the consumer as laid down in paragraph 4 of this Article.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 16 – paragraph 2

~~2. Powers are~~ delegated to the Commission in accordance with Article 26 and subject to the conditions of Articles 27 and 28, to define uniform credit registration criteria and data processing conditions to be applied to the databases referred to in paragraph 1 of this Article. In particular, such delegated acts shall define the registration thresholds to be applied to such databases and shall provide for agreed definitions for key terms used by such databases.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 21 – paragraph 3

~~3. Powers are~~ delegated to the Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the minimum monetary amount of the professional indemnity insurance or comparable guarantee referred to in paragraph 1(b). The regulatory technical standards referred to in subparagraph 1 shall be adopted in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. EBA shall develop draft regulatory technical standards to stipulate the minimum monetary amount of the professional indemnity insurance or comparable guarantee referred to in paragraph 1(b) for submission to the Commission [within 6 months of the adoption of the proposal]. EBA will review, and if necessary, develop draft regulatory technical standards to amend the minimum monetary amount of the professional indemnity insurance or comparable guarantee referred to in paragraph 1(b) for submission to the Commission for the first time [4 years after entry into force of the Directive] and biannually thereafter.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 24 – paragraph 1 – subparagraph 1

Without prejudice to procedures for the withdrawal of authorisation or to the right of Member States to impose criminal sanctions, Member States shall ensure, in conformity with their national law, that appropriate administrative measures can be taken or administrative sanctions imposed against persons responsible where the provisions adopted in the implementation of this Directive have not been complied with. Member States shall ensure that these measures arMember States shall lay down the rules on penalties applicable to infringements of the national provisions adopted pursuant to this Directive and shall take all measures necessary to ensure that they are implemented. The penalties provided for shall be effective, proportionate and dissuasive.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 24 – paragraph 1 – subparagraph 2

Member States shall provide for penalties in particular cases where consumers knowingly provide incomplete or incorrect information in order to obtain a positive creditworthiness assessment where the complete and correct information would have resulted in a negative creditworthiness assessment, and are subsequently unable to fulfil the conditions of the agreement, and shall take all measures necessary to ensure that they are implemented.deleted

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 24 – paragraph 2

2. Member States shall ensure that the competent authority discloses to the public any measure or sanction that will be imposed for infringement of the provisions adopted in the implementation of this Directive, unless such disclosure would seriously jeopardise the financial markets or cause disproportionate damage to the parties involved.deleted

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 26 – paragraph 1

1. The powers to adopt delegated acts ~~referred to in Articles 6(4), 8(4), 9(3), 10(3), 14(5) and 16(2) shall be conferred on the Commission for an indeterminate period of time following the entry into force of this Directiv~~shall be conferred on the Commission subject to the conditions laid down in this Article.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 26 – paragraph 2

2. ~~As soon as it~~The power to adopt~~s a~~ delegated act~~, the Commission shall notify it simultaneously to the European Parliament and to the Council~~s referred to in Article 9(3)(d) and (e) and Article 12(5) shall be conferred on the Commission for an indeterminate period of time following the entry into force of this Directive.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 26 – paragraph 3

3. The ~~power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 27 and 28~~delegation of powers referred to in Article 9(3)(d) and (e) and Article 12(5) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect on the day following publication of the decision to revoke in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 26 – paragraph 3 a (new)

3a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 26 – paragraph 3 b (new)

3b. A delegated act adopted pursuant to Article 9(3) (d) and (e) and Article 12(5) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of three months of notification of that act to the European Parliament and to the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. At the initiative of the European Parliament or the Council that period shall be extended by two months.

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 27

Revocation of the delegation 1. The delegation of powers referred to in Articles 6(4), 8(4), 9(3), 10(3), 14(5) and 16(2) may be revoked at any time by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of powers shall inform the other legislator and the Commission at the latest one month before the final decision is taken, stating the delegated powers which could be subject to revocation and the reasons for any revocation. 3. The decision of revocation shall terminate the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.deleted

2011/10/06
Committee: ECON

Andreas SCHWAB

Proposal for a directive
Article 28

~~Objections to~~ delegated acts 1. The European Parliament and the Council may object to a delegated act within a period of two months from the date of notification. At the initiative of the European Parliament or the Council that period shall be extended by one month. 2. Where, on expiry of the period referred to in paragraph 1, neither the European Parliament nor the Council has objected to the delegated act, it shall be published in the Official Journal of the European Union and shall enter into force on the date stated therein. The delegated act may be published in the Official Journal of the European Union and enter into force before the expiry of that period where the European Parliament and the Council have both informed the Commission of their intention not to raise objections. 3. Where either the European Parliament or the Council objects to an adopted delegated act within the period referred to in paragraph 1, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.

2011/10/06
Committee: ECON

28 Amendments of Andreas SCHWAB related to 2011/0062(COD)

ParlTrack - 2011-2024