15 Amendments of Udo BULLMANN related to 2010/2008(INI)
Amendment 11 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the basis for international cooperation should be established in order to handle internationally traded derivatives so as to achieve international standards and information sharing arrangements between CCPs as a minimum,
Amendment 56 #
Motion for a resolution
Recital I
Recital I
I. whereas, as a rule, non-financial institutions’ interest rate, foreign-exchange and commodity contracts need no additional regulation, but such measures cannot be ruled out in future,
Amendment 62 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas derivatives speculation has had serious social consequences, in particular with regard to agricultural products; whereas speculation with credit default swaps has had grave economic consequences for some Member States of the euro area,
Amendment 112 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, as regards regulation, a distinction must be made between derivatives to hedge firms’real transactions and pureby firms and financial market derivatives for purely speculative purposes;
Amendment 116 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the commission to look into ways of reducing the overall volume of derivatives significantly so the volume is proportionate to the underlying securities so as to avoid a distortion of price signals and reducing the risk to market integrity and cutting down systemic risk;
Amendment 117 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Considers important to pay particular attention to corporate derivatives to which a financial institution is a counterparty in order to avoid abusing such contracts not as corporate risk but as financial market instruments;
Amendment 118 #
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Warns about the access of unsophisticated investors to derivatives trading and calls for a monitoring of such practises;
Amendment 181 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Insist on the need to have regulatory standards to ensure that CCPs remain resilient to a broader set of risks, including multiple participant failures, sudden sales of financial resources and rapid reduction in market liquidity;
Amendment 192 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Backs the Commission in its intention to provide for exemptions and lower capital requirements for SMEs’ bilateral derivatives, providing that the relevant underlying risk is also taken into account;
Amendment 207 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls, as a matter of priority, for credit default swaps to be made subject to independent central clearing and, if necessary, checked to establish whether individual types of derivative with cumulative risks or entailing a potential economic risk should only be conditionally authorised or even, on a case-by-case basis, prohibited;
Amendment 211 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
Amendment 218 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Is of the view that all high-risk derivatives from non-financial institutions must also be regulated despite accounting, according to the market analyses to hand, for a small proportion of the totalmust be regulated;
Amendment 226 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Calls on the Commission to examine more closely the extent to which speculation influences price formation with regard to commodities, agricultural products and greenhouse gas emission allowances, to the detriment of society;
Amendment 231 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes that forCalls for the planned regulation of derivatives to include a ban on purely speculative trade ing commodities and agricultural products, but also greenhouse gas emission allowances, it must be ensured that that market operates transparently in order to stem speculationwhere it is harmful to society;
Amendment 243 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Underlines the fact that regulation which is aneed for European regulation of derivatives and calls consistent as possible and internationally the Commission to coordinated its desirable, but, since there are differing viewpoints, considers separate European regulation for derivatives to be necessaryactions with Europe’s partners as far as possible, in order to secure regulation which is as consistent as possible and internationally coordinated;