15 Amendments of Andreas SCHWAB related to 2012/0242(CNS)
Amendment 115 #
Proposal for a regulation
Recital 9
Recital 9
(9) A European banking union should therefore be set up, underpinned by a true single rulebook for financial services for the Single Market as a whole and composed of a single supervisory mechanism, and a common deposit insurance and resolution framework. In view of the close links and interactions between Member States participating in the common currency, the banking union should apply at least to all Euro area Member States. With a view to maintaining and deepening the internal market, and to the extent that this is institutionally possible, the banking union should also be open to the participation of other Member Statesentailing harmonisation of national deposit insurance schemes and a common resolution framework.
Amendment 158 #
Proposal for a regulation
Recital 12
Recital 12
(12) The ECB should be conferred only those specific supervisory tasks which are crucial to ensure a coherent and effective implementation of the Union's policy relating to the prudential supervision of credit institutions, while otherfor the stability of the euro area, while national supervisory, inspection and authorisation tasks should remain with national authorities. The ECB's tasks should primarily include measures taken in pursuance of macro-prudential stability.
Amendment 167 #
Proposal for a regulation
Recital 13
Recital 13
(13) SThe crisis on the financial markets has shown that safety and soundness of large banks is essential to ensure the stability of the financial system. However, recent Therefore, the ECB should be able to experience shows that smaller banks can also pose a threat to financial stability. Therefore, the ECB should be ablecise specific and clearly defined supervisory tasks in relation to banks of European systemic importance as defined in this Regulation. The ECB also needs to exercise supervisorythese tasks in relation to all banks of participating Member Stateswhich have received or which have requested public financial assistance.
Amendment 175 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) National competent authorities should continue to supervise the credit institutions that fall outside the scope of direct ECB supervision. The ECB, together with the EBA and the national supervisory authorities, should create a supervisory framework for the supervision of those credit institutions which are not directly supervised by the ECB. As part of their duties under the supervisory framework, national competent authorities should submit a report to the ECB on a quarterly basis.
Amendment 191 #
Proposal for a regulation
Recital 14
Recital 14
(14) Prior authorisation for taking up the business of systemic credit institutions is a key prudential technique to ensure that only operators with a sound economic basis, an organisation capable of dealing with the specific risks inherent to deposit taking and credit provision, and suitable directors carry out those activities. The ECB should therefore have the task to authorise credit institutions and should be responsible for the withdrawal of authorisations.
Amendment 208 #
Proposal for a regulation
Recital 17
Recital 17
(17) Compliance with Union rules requiring credit institutions to hold certain levels of capital against risks inherent to the business of credit institutions, to limit the size of exposures to individual counterparties, to publicly disclose information on a credit institutions’ financial situation, to dispose of sufficient liquid assets to withstand situations of market stress, and to limit leverage is a prerequisite for credit institutions’ prudential soundness. TIn the case of systemic banks, the ECB should habe given the task to ensure compliance with those rules and to setpower to make a binding proposal to national supervisory authorities concerning higher prudential requirements and apply additional measures to credit institutions in the cases specifically set out in Union acts.
Amendment 293 #
Proposal for a regulation
Recital 29
Recital 29
(29) As regards the supervision of cross- border banks active both inside and outside the Euro area the ECB shouldmust cooperate closely with the competent authorities of non participating Member States. As a competent authority for specific tasks in relation to systemic credit institutions, the ECB should be subject to the related obligations to cooperate and exchange information under Union law and should participate fully in the colleges of supervisors. In addition, since the exercise of supervisory tasks by a European institution brings about clear benefits in terms of financial stability and sustainable market integration, Member States not participating in the common currency should therefore also have the possibility to participate in the new mechanism. However, it is a necessary pre- condition for an effective exercise of supervisory tasks, that supervisory decisions are implemented fully and without delay. Member States wishing to participate in the new mechanism should therefore undertake to ensure that their national competent authorities will abide by and adopt any measure in relation to systemic credit institutions requested by the ECB. The ECB should be able to establish a close cooperation with the competent authorities of a Member State not participating in the common currency. It should be obliged to establish the cooperation where the conditions set out in this regulation are met. The conditions under which representatives of the competent authorities of the Member States which established a close co-operation take part to the activities of the Supervisory Board should allow the greatest possible involvement of those representatives taking into account the limits following from the Statute of ESCB and of the ECB, in particular as regards the integrity of its decision making process.
Amendment 301 #
Proposal for a regulation
Recital 30
Recital 30
(30) In order to carry out its taskspecific tasks in relation to systemic credit institutions, the ECB should have appropriate supervisory powers. Union law on the prudential supervision of credit institutions provides for certain powers to be conferred on competent authorities designated by the Member States for those purposes. To the extent that these powers fall within the scope of the supervisory tasks conferred on the ECB, for participating Member States the ECB should be considered the competent authority and should have the powers conferred on competent authorities by Union law. This includes powers conferred by those acts on the competent authorities of the home and the host Member States and the powers conferred on designated authorities.
Amendment 338 #
Proposal for a regulation
Recital 36
Recital 36
(36) In particular, a supervisory board responsible for preparing decisions on supervisory matters should be set up with the ECB encompassing the specific expertise of national supervisors. The board should therefore be chaired by a Chair and a Vice-Chair elected by the European Parliament on a proposal from the ECB Governing Council and composed, in addition, of representatives from the ECB and from national authorities. In order to allow for an appropriate rotation while ensuring the full independence of the Chair and the Vice- Chair, their term should not exceed five years and should not be renewable. In order to ensure full coordination with the activities of the EBA and with the prudential policies of the Union, the EBA and the European Commission should be observers in the supervisory board. The performance of the supervisory tasks conferred upon the ECB requires the adoption of a large number of technically complex acts and decisions, including decisions on individual credit institutions. In order to effectively carry out those tasks in accordance with the principle of separation from tasks relating to monetary policy, the ECB Governing Council of the ECB shouldmust be able to delegate certain clearly defined supervisory tasks and related decisions to the independent supervisory board, subject to the oversight and responsibility of; the Governing Council, which can may not give instructions and directions to that bodyto the supervisory board. The supervisory board mayshould be supported by a steering committee with ano more limited compositionthan six members.
Amendment 380 #
Proposal for a regulation
Recital 44
Recital 44
(44) In order to ensure that credit institutions are subject to supervision of the highest quality, unfettered by other, non- prudential considerations and that the negative mutually reinforcing impacts of market developments concerns banks and Member States is addressed in a timely and effective way, the ECB should start carrying out specific supervisory tasks for credit institutions of systemic importance as soon as possible. However, the transfer of supervisory tasks from national supervisors to the ECB requires a certain amount of preparation. Therefore, an appropriate phasing-in period should be provided for. The number of banks subject to the supervision of the ECB should increase progressively, taking into account the relevance of theApart from supervision of those banks to ensure financial stability. As a first step the ECB should be able to apply its supervisory tasks to any banks, in particular to banks which have received or requested public financial assistance. As a second step, banks of Europeancific tasks, ECB supervision should cover only credit institutions of systemic importance, as reflected in their total exposures and, their cross- jurisdictional activities should be coveredand the potential risk. Total exposures should be calculated in light of the methodologies defined in the Basel III accord of the Basel Committee on Banking Supervisors on the calculation of the leverage ratio and on the definition of common equity tier 1 capital. The phasing- in process should be completed within one year from the entry into force of this Regulation at the latest.
Amendment 456 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The ECB shall, in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to allsystemically important cross-border credit institutions established in the participating Member States:
Amendment 485 #
Proposal for a regulation
Article 4 – paragraph 1 – point h
Article 4 – paragraph 1 – point h
(h) To carry outorder supervisory stress-tests onto be carried out on systemically important credit institutions to support the supervisory review;
Amendment 516 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. The ECB shall carry out the tasks referred to in paragraph 1 for credit institutions which: (a) have received or applied for public financial aid from special European recapitalisation programmes, or (b) are of systemic importance owing to their size, the systemic risk and their cross-border activities.
Amendment 595 #
Proposal for a regulation
Article 5 – paragraph 4 a (new)
Article 5 – paragraph 4 a (new)
4a. National competent authorities shall continue to be responsible for supervising the credit institutions that fall outside the scope of Article 4(1a), without prejudice to the role of the ECB as set out in Articles 4b and 4c.
Amendment 598 #
Proposal for a regulation
Article 5 – paragraph 4 b (new)
Article 5 – paragraph 4 b (new)
4b. The competent national authority shall notify the ECB without delay where (a) there are well-founded concerns about the safety and/or creditworthiness of any credit institution falling outside the scope of Article 4(1a) (b) the stability of the financial system is endangered by the situation of any credit institution, individually or as part of a group of credit institutions, falling outside the scope of Article 4(1a) or (c) a credit institution ceases to fall within the scope of Article 4(1a).