7 Amendments of Wolf KLINZ related to 2009/0140(COD)
Amendment 96 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) Where the ESRB detects a risk which could seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or a part of the financial system in the European Union, it should be able to issue a warning declaring the existence of an emergency situation. In such a case, the ESRB should promptly inform the European Parliament, the Council, the Commission, the national supervisory authorities and the European Supervisory Authority of its warning. In the event of an emergency, the ESRB should issue an emergency warning.
Amendment 98 #
Proposal for a regulation
Recital 9
Recital 9
(9) In order to increase their weight and legitimacy, such warnings and recommendations should be transmitted through the Council and, where appropriate, the European Banking Authority established by Regulation (EC) No …/… the European Parliament and of, the Council, the European Securities and Markets Authority established by Regulation (EC) No …/… of the European Parliament and of the Council, and the European Insurance or the Occupational Pension Authority established by Regulation (EC) No …/…of the European Parliament and of the Council and, where appropriate, the European Supervisory Authority (ESA) and national supervisory authorities.
Amendment 129 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The General Board shall take the decisions necessary to fulfil the tasks referred to in points (c) and (d) of Article 3(2) and shall ensure the performance of all of the tasks entrusted to the ESRB.
Amendment 130 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. The Steering Committee shall assist in the decision-making process of the ESRB by identifying and prioritising risks, supporting the preparation of the meetings of the General Board, fulfilling the tasks referred to in points (e) to (h) of Article 3(2), reviewing the documents to be discussed and monitoring the progress of the ESRB’s ongoing work.
Amendment 210 #
Proposal for a regulation
Article 15 – paragraph 5 a (new)
Article 15 – paragraph 5 a (new)
5a. The ESRB may cooperate with third- country supervisory authorities and international forums in order to facilitate the information exchange and establish a mechanism for collecting and exchanging information on systemic risk necessary for the achievement of its tasks.
Amendment 223 #
Proposal for a regulation
Article 16 a (new)
Article 16 a (new)
Article 16a Action in emergency situations 1. In the event of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, the ESRB in accordance with point (b) of Article 3(2), may issue warnings, on its own initiative or following a request by an ESA, the European Parliament, the Council, a national supervisory authority or the Commission, declaring the existence of an emergency situation. 2. As soon as it issues a warning, the ESRB shall simultaneously notify the European Parliament, the Council, the Commission and the European Supervisory Authority and the national supervisory authorities
Amendment 238 #
Proposal for a regulation
Article 18 – paragraph 3
Article 18 – paragraph 3
3. Where the gGeneral Board of the ESRB decides not to make a warning or a recommendation public, the addressee and, where appropriate, the European Parliament, the Council, and the European Supervisory Authorities, as well as the national supervisory authorities shall take all the measures necessary for the protection of theirits confidential nature. The President of the Council may decide not to circulate a warning or recommendation to the other Members of the Council.