Activities of Eva LICHTENBERGER related to 2013/0253(COD)
Legal basis opinions (0)
Amendments (11)
Amendment 12 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) Directive [BRRD] should govern recovery and resolution planning, early intervention, conditions for and principles of resolution as well as the use of resolution tools by SRM. It is therefore appropriate that this regulation covers only those aspects required to ensure that the SRM implements that directive and that appropriate additional funding required is at its disposal.
Amendment 13 #
Proposal for a regulation
Recital 24 a (new)
Recital 24 a (new)
(24a) Globally systemic important institutions (G-SIIs) and other systemic important institutions (O-SIIs) are by their nature not compatible with an efficient and robust market economy, inter alia because they benefit from large implicit subsidies, and even with the use of resolution tools, the risk will persist that they cannot be resolved without public funds being deployed. Pre-emptive action by the Board within a reasonable time frame, including a significant reduction in their size, inter- connectedness and complexity, is therefore imperative.
Amendment 15 #
Proposal for a regulation
Article 7 a (new)
Article 7 a (new)
Article 7 a Application of Directive [BRRD] The actions of the SRM in relation to institutions shall be governed by Directive [BRRD].
Amendment 16 #
Proposal for a regulation
Article 7 b (new)
Article 7 b (new)
Article 7 b Resolvability of Systemically Important Institutions For institutions referred to in article 2 of this regulation and identified as globally systemic important institutions (G-SIIs) or as other systemically important institutions (O-SIIs) pursuant to Article 131 of DIRECTIVE 2013/36/EU, the Board shall prioritise the assessment of their resolvability in accordance with Article 13 [BRRD] and draw up a plan for each of these institutions to remove impediments to resolvability in accordance with Article 14 [BRRD]. The plan shall include at least the following: (a) requiring the institution to divest specific assets; (b) requiring the institution to limit or cease specific existing or proposed activities; (c) requiring changes to legal or operational structures of the institution so as to reduce complexity in order to ensure that critical functions may be legally and economically separated from other functions through the application of the resolution tools;
Amendment 20 #
Proposal for a regulation
Article 26 – paragraph 2 – introductory part
Article 26 – paragraph 2 – introductory part
2. Where a national resolution authority has not applied a decision referred to in Article 16, or has applied it in a way which fails to achieve the resolution objectives under this Regulation, the Board shall have the power to order an institution under resolution or exercise any other powers provided for in Directive [BRRD]:
Amendment 21 #
Proposal for a regulation
Article 26 – paragraph 2 a (new)
Article 26 – paragraph 2 a (new)
2a. Post Resolution Public Transparency After the financial institution to which resolution actions have been applied ceases to meet the conditions for resolution, and after the conclusion of any insolvency proceeding relating to that institution or institutions resulting from the resolution actions, the Board shall without delay make publically available a suitably aggregated balance sheet valued according to the principles set out in this regulation at the moment the decision to resolve the institution was taken, clearly showing the net asset value of the institution and the value of the classes of assets and liabilities. In addition, the Board shall publish the total amount of losses born by the different classes of creditors where bail-in was applied, the amount and sources of funding used in the resolution process, and the proceeds of any sales of business units or assets.
Amendment 22 #
Proposal for a regulation
Article 41 – paragraph 8
Article 41 – paragraph 8
8. During any investigations by the Parliament, the Board shall cooperate with the Parliament, subject to the TFEU. The Board and the Parliament shall conclude by 1 March 2015 appropriate arrangements on the practical modalities of the exercise of democratic accountability and oversight over the exercise of the tasks conferred on the Board by this Regulation. Those arrangements shall cover, inter alia, access to information, cooperation in investigations and information on the selection procedure of the Executive Director and the Deputy Director and shall have in all relevant aspects at least the scope and substance covered by the IIA adopted by the EP on 9.10.2013 in the framework of the SSM pursuant to article 20 paragraph 9 of regulation [SSM]. These arrangements shall include an agreement between the Board and the Parliament on the principles and procedures for the classification, transmission to Parliament and delayed public disclosure of confidential information other than those covered by the IIA concluded pursuant to article 20 paragraph 9 of regulation [SSM].
Amendment 23 #
Proposal for a regulation
Article 51 – paragraph 1
Article 51 – paragraph 1
1. When deliberating on an individual entity or a group established only in one participating Member State, the Board shall take its decisions in its executive sessions by a simple majority of itsthe participating members referred to in article 49(2). In case of a tie the Executive Director shall have a casting vote.
Amendment 24 #
Proposal for a regulation
Article 51 – paragraph 2
Article 51 – paragraph 2
2. When deliberating on a cross-border group, the Board shall take its decisions in its executive sessions by a simple majority of itsthe participating members. referred to in article 49(3) with the following modifications: The members of the Board referred to in Article 40(239(1) points a) to d) and the member appointed by the Member State in which the group level resolution authority is situated shall each have one vote. The other participating members shall each have a voting right equal to a fraction of one vote and the number of national resolution authorities of the Member States in which a subsidiary or entity covered by consolidated supervision is established shall each have a voting right equal to one divided by their number. In case of a tie the Executive Director shall have a casting vote.
Amendment 25 #
Proposal for a regulation
Article 66 – paragraph 3 – introductory part
Article 66 – paragraph 3 – introductory part
3. TWithout prejudice to paragraph 1 second subparagraph, the Commission shall be empowered to adopt delegated acts in accordance with Article 82 to specify the following:
Amendment 26 #
Proposal for a regulation
Article 69 – paragraph 1
Article 69 – paragraph 1
1. The Board may contract for the Fund borrowings or other forms of support from, first private and, where this is not possible, public financial institutions or other third parties, in the event that the amounts raised in accordance with Articles 66 and 67 are not immediately accessible or sufficient to cover the expenses incurred by the use of the Fund.