64 Amendments of Olle SCHMIDT related to 2011/0202(COD)
Amendment 169 #
Proposal for a regulation
Recital 35
Recital 35
(35) While it is desirable to base the calculation of the exposure value on that provided for the purposes of own funds requirements, it is appropriate to adopt rules for the monitoring of large exposures without applying risk weightings or degrees of risk. Moreover, the credit risk mitigation techniques applied in the solvency regime were designed with the assumption of a well-diversified credit risk. In the case of large exposures dealing with single name concentration risk, including sovereign risks, credit risk is not well- diversified. The effects of those techniques should therefore be subject to prudential safeguards. In this context, it is necessary to provide for an effective recovery of credit protection for the purposes of large exposures.
Amendment 232 #
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a Stricter own funds requirements by Member States Member States shall in their national legislations have the possibility to permanently set own funds requirements for institutions higher than those requirements laid down in Article 87(1)of this Regulation. It is reasonable that the Member States have means available to strengthen financial stability. Allowing Member States to set transparent, legally binding higher own funds requirements for their cross-border banking groups will create a positive externality on other Member States since it will reduce the risk of contagion in the financial sector. Member States may require a systemic institution to maintain an appropriate systemic buffer calculated as a percentage of the institution's total exposure amount in accordance with Article 87(3) of this Regulation on an individual basis, as applicable in accordance with Part One, Title II of this Regulation. Member States may also permit the systemic buffer to be calculated and maintained on a consolidated basis, as applicable in accordance with Part One, Title II of this Regulation.
Amendment 248 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
The right to inhabit an apartment in Swedish housing cooperatives are included in residential property.
Amendment 249 #
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
Residential property means a residence which is occupied or let by the owner of the residence and shares in a housing cooperative that gives the owner of the share the right to use one specific apartment in a property owned by the housing cooperative.
Amendment 254 #
Proposal for a regulation
Article 4 – paragraph 1 – point 55 a (new)
Article 4 – paragraph 1 – point 55 a (new)
(55a) 'trade finance' means financing connected to the exchange of goods and services through financial products of fixed short-term maturity (generally less than 1 year) without automatic rollover, such finance is generally uncommitted and requires satisfactory supporting transactional documentation for each drawdown request enabling refusal of the finance in the event of any doubt about credit-worthiness or the supporting transactional documentation; repayment of trade finance exposures is usually independent of the borrower; the funds instead coming from cash received from importers or resulting from proceeds of the sales of the underlying goods.
Amendment 367 #
Proposal for a regulation
Article 24 – paragraph 4
Article 24 – paragraph 4
4. EBA shall evaluate and then establish, maintain and publish a list of the forms of capital instrument in each Member State that qualify as Common Equity Tier 1 instrumentsmeet the requirements of this Regulation to qualify as Common Equity Tier 1 instruments. Only instruments included on the EBA list will be eligible as Common Equity Tier 1. EBA shall establish and publish this list by 1 January 2013.
Amendment 394 #
Proposal for a regulation
Article 26 – paragraph 3 – subparagraph 1 – point b b (new)
Article 26 – paragraph 3 – subparagraph 1 – point b b (new)
(bb) the meaning of preferential distributions;
Amendment 395 #
Proposal for a regulation
Article 26 – paragraph 3 – subparagraph 1 – point b c (new)
Article 26 – paragraph 3 – subparagraph 1 – point b c (new)
(bc) the definition and implications of 'absorbing the first and proportionately greatest share of losses as they occur';
Amendment 396 #
Proposal for a regulation
Article 26 – paragraph 3 – subparagraph 1 – point b d (new)
Article 26 – paragraph 3 – subparagraph 1 – point b d (new)
(bd) the nature of a cap or other restriction on the maximum level of distributable items.
Amendment 419 #
Proposal for a regulation
Article 33 – paragraph 1 – point e
Article 33 – paragraph 1 – point e
(e) defined benefit pension fund assets and adjustments of net pension liabilities of the institution;
Amendment 434 #
Proposal for a regulation
Article 38 – paragraph 2 – subparagraph 1
Article 38 – paragraph 2 – subparagraph 1
EBA shall develop draft regulatory technical standards to specify the criteria according to which a competent authority shall permit an institution to reduce the amount of assets in the defined benefit pension fund as specified in point (b) of paragraph 1. EBA shall also develop draft regulatory technical standards to specify the criteria according to which a competent authority shall permit an institution to reduce the amount of net defined pension liabilities as specified in paragraph 2a.
Amendment 435 #
Proposal for a regulation
Article 38 – paragraph 2 a (new)
Article 38 – paragraph 2 a (new)
Amendment 451 #
Proposal for a regulation
Article 46 – paragraph 1 – subparagraph 1
Article 46 – paragraph 1 – subparagraph 1
As an alternative to the deduction of holdings of an institution in the Common Equity Tier 1 instruments of insurance undertakings, reinsurance undertakings and insurance holding companies in which the institution has a significant investment, competent authorities may allow institutions tomay apply methods 1, 2 or 3 of Annex I to Directive 2002/87/EC. The institution shall apply the method chosen in a consistent manner over time.
Amendment 454 #
Proposal for a regulation
Article 46 – paragraph 1 – subparagraph 2
Article 46 – paragraph 1 – subparagraph 2
An institution may apply method 1 (accounting consolidation) only if it has received the prior consent of the competent authority. The competent authority may grant such consent only if itif the competent authority is satisfied that the level of integrated management and internal control regarding the entities that would be included in the scope of consolidation under method 1 is adequate.
Amendment 463 #
Proposal for a regulation
Article 46 – paragraph 2
Article 46 – paragraph 2
2. For the purposes of calculating own funds on a stand-alone basis, institutions subject to supervision on a consolidated basis in accordance with Chapter 2 of Title II of Part One shall not deduct holdings referred to in points (h) and (i) of Article 33(1) in relevant entities included in the scope of consolidated supervision. Institutions should apply a risk weighting of up to 250% to these holdings when calculating their total risk exposure amounts for credit risk used in the calculation of their capital ratios.
Amendment 514 #
Proposal for a regulation
Article 73 – paragraph 1 – point b a (new)
Article 73 – paragraph 1 – point b a (new)
(ba) The competent authority may at any time grant permission for early redemption of dated or undated instruments in the event that there is a change in the applicable tax treatment or regulatory classification of such instruments which was unforeseen at the date of issue.
Amendment 523 #
Proposal for a regulation
Article 79 – paragraph 1 – point a – point i
Article 79 – paragraph 1 – point a – point i
(i) the amount of Common Equity Tier 1 capital of that subsidiary required to meet the sum of the requirement laid down in point (a) of Article 87(1) and, the combined buffer referred to in Article 122(2) of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 529 #
Proposal for a regulation
Article 79 – paragraph 1 – point a – point ii
Article 79 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Common Equity Tier 1 capital that relates to that subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (a) of Article 87(1) and, the combined buffer referred to in Article 122(2) of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 543 #
Proposal for a regulation
Article 80 – paragraph 1 – point a – point i
Article 80 – paragraph 1 – point a – point i
(i) the amount of Tier 1 capital of the subsidiary required to meet the sum of the requirement laid down in point (b) of Article 87(1) and, the combined buffer referred to in Article 122(2)of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 547 #
Proposal for a regulation
Article 80 – paragraph 1 – point a – point ii
Article 80 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Tier 1 capital that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (b) of Article 87(1) and, the combined buffer referred to in Article 122(2)of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 558 #
Proposal for a regulation
Article 82 – paragraph 1 – point a – point i
Article 82 – paragraph 1 – point a – point i
(i) the amount of own funds of the subsidiary required to meet the sum of the requirement laid down in point (c) of Article 87(1) and, the combined buffer referred to in Article 122(2) of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 562 #
Proposal for a regulation
Article 82 – paragraph 1 – point a – point ii
Article 82 – paragraph 1 – point a – point ii
(ii) the amount of own funds that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 87(1) and, the combined buffer referred to in Article 122(2)of Directive [inserted by OP]; and specific own funds requirements referred to in Article 100 of Directive [inserted by OP] insofar as those requirements are to be met by Common Equity Tier 1 capital where the following conditions are met: (1) The requirements referred to in Article 100 of Directive [inserted by OP] for each subsidiary are fully included within the requirements of the consolidated group; and (2) The institution has obtained the prior consent of the relevant home and host competent authorities to include the requirements referred to in Article 100 of Directive [inserted by OP] and can be fully justified by its crisis resolution plan referred to in Article 8a of Directive [inserted by OP].
Amendment 569 #
Proposal for a regulation
Article 83 a (new)
Article 83 a (new)
Article 83 a Monitoring of consolidated capital arrangements The consolidated capital arrangements under articles 80 to 83 can lead to conflict between host regulators encouraging issuance of capital via local subsidiaries and home regulators restricting the amount of capital credit given at the group level. These conflicting interests should be balanced. EBA shall monitor the arrangements and impact on European banks and issue regulatory technical standards for the purpose of a harmonised approach in the EU.
Amendment 582 #
Proposal for a regulation
Article 87 – paragraph 4 a (new)
Article 87 – paragraph 4 a (new)
4a. Where a liability or a capital charge is applied more than once due to the interacting capital requirements the competent authority may disapply the relevant part of this Regulation. The competent authorities shall notify the EBA as soon as is practicable where this approach is applied. The EBA shall monitor this practice and where necessary on its own initiative issue guidelines to ensure consistency at Union level.
Amendment 614 #
Proposal for a regulation
Article 109 – paragraph 4 a (new)
Article 109 – paragraph 4 a (new)
4 a. Institutions shall not hold disproportionate amounts of sovereign debt of any specific country, having due regard to all circumstances. The EBA shall monitor and set guidelines on appropriate levels of exposure.
Amendment 737 #
Proposal for a regulation
Article 146 a (new)
Article 146 a (new)
Article 146 a Setting a floor for risk weights at portfolio or exposure level Member States may, on a permanent or temporary basis, set a limit to the risk weight so that the risk weight of a specific portfolio shall not be less than a number specified by the Member State. The risk weight limit may be set both on portfolio level, so that the exposure-weighted risk weight of the specific portfolio shall not be less than a specified number, or at exposure level, so that the risk weight of each individual exposure within a specific portfolio may not be less than a specified number. These limits may not be set higher than the corresponding risk weight for the specific exposures concerned in accordance with the standardized approach in Articles 106 to 136.
Amendment 738 #
Proposal for a regulation
Article 146 b (new)
Article 146 b (new)
Article 146 b Member States may adjust the multiplication factor of 1,06 of the risk weight formulas in Article 148 (1) (iii) and Article 149 (1) (iii) upwards, on a permanent or temporary basis, up to a maximum level.
Amendment 749 #
Proposal for a regulation
Article 153 – paragraph 5
Article 153 – paragraph 5
5. The competent authorities shall exempt an institution rating system from the requirements for risk weighted exposure amounts for dilution risk of purchased corporate andor retail receivables where the institution has demonstrated to the satisfaction of the competent authority that dilution risk is immaterial for that institutionrating system.
Amendment 770 #
Proposal for a regulation
Article 187 a (new)
Article 187 a (new)
Article 187 a Benchmarking Institutions shall be required to run a benchmark portfolio through their models and produce and disclose on a quarterly basis the loan/loss reserve level, value of risk, stress-test results and risk weighted asset value. The EBA shall establish the benchmark portfolio by June 2013 and publish details on its website. The EBA may update the portfolio in the light of developments in assets and models and comparison with international benchmarking.
Amendment 786 #
Proposal for a regulation
Article 197 – paragraph 1 – point g – point ii
Article 197 – paragraph 1 – point g – point ii
(ii) in the case of institutions calculating risk-weighted exposure amounts and expected loss amounts under the IRB Approach, those other corporate entities do not have a credit assessment by a recognised ECAI and are internally rated as having a PD equivalent to that associated with the credit assessments of ECAIs determined by EBA to be associated with credit quality step 2 or above the rules for risk weighting of exposures to corporates under Chapter 2.
Amendment 811 #
Proposal for a regulation
Article 299 – paragraph 7 – subparagraph 1 – introductory part
Article 299 – paragraph 7 – subparagraph 1 – introductory part
EBA, in close cooperation with the competent authorities for supervision and oversight of CCPs, shall develop implementing technical standards to specify the following:
Amendment 812 #
Proposal for a regulation
Article 299 – paragraph 7 – subparagraph 2
Article 299 – paragraph 7 – subparagraph 2
EBA, in close cooperation with the competent authorities for supervision and oversight of CCPs, shall submit those draft implementing technical standards to the Commission by 1 January 2014.
Amendment 832 #
Proposal for a regulation
Article 356 – paragraph 1 – point b
Article 356 – paragraph 1 – point b
(b) the model shall capture a sufficient number of risk factors, depending on the level of activity of the institution in the respective markets. Where a risk factor is incorporated into an institution's pricing model, but not into the risk-measurement model, the institution shall be able to justify such an omission to the satisfaction of the competent authority. The institution shall at least incorporate those risk factors in its model that are incorporated into its pricing model. The risk-measurement model shall capture nonlinearities for options and other products as well as correlation risk and basis risk. Where proxies for risk factors are used they shall show a good track record for the actual position held.
Amendment 835 #
Proposal for a regulation
Article 372 – paragraph 1
Article 372 – paragraph 1
1. An institution shall calculate the own funds requirements for CVA risk in accordance with this Title for all OTC derivative instruments in respect of all of its business activities, other than credit derivatives recognised to reduce risk- weighted exposure amounts for credit risk and derivative transactions related to pension scheme arrangements exempted under Article 71 of Regulation [ ] (EMIR).
Amendment 838 #
Proposal for a regulation
Article 372 – paragraph 3
Article 372 – paragraph 3
3. Transactions with a (i) central counterparty (ii) UCITS and (iii) non- financial counterparties referred to in Art. XX of EMIR [inserted by OP] other than UCITS, provided that these transactions are objectively measurable as reducing risks directly related to the UCITS or to the commercial or treasury financing activities of the non-financial counterparty, are excluded from the own funds requirements for CVA risk.
Amendment 841 #
Proposal for a regulation
Article 372 – paragraph 3 a (new)
Article 372 – paragraph 3 a (new)
3a. Transactions with international organisations referenced in Article 113 and with multilateral development banks referenced in Article 112.2 are excluded from the own funds requirements for CVA risk.
Amendment 851 #
Proposal for a regulation
Article 373 – paragraph 5 – introductory part
Article 373 – paragraph 5 – introductory part
5. An institution shall determine the own funds requirements for CVA risk as the sumhighest of non-stressed and stressed Value- at- Risk, which shall be calculated as follows:
Amendment 868 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point a
Article 389 – paragraph 1 – subparagraph 1 – point a
(a) asset items constituting claims on central governments or central banks which, unsecured, would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 873 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point c
Article 389 – paragraph 1 – subparagraph 1 – point c
(c) asset items constituting claims carrying the explicit guarantees of central governments, central banks, international organisations, multilateral development banks or public sector entities, where unsecured claims on the entity providing the guarantee would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 876 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point d
Article 389 – paragraph 1 – subparagraph 1 – point d
(d) other exposures attributable to, or guaranteed by, central governments, central banks, international organisations, multilateral development banks or public sector entities, where unsecured claims on the entity to which the exposure is attributable or by which it is guaranteed would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 880 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point k a (new)
Article 389 – paragraph 1 – subparagraph 1 – point k a (new)
(ka) Asset items constituting claims on, or carrying the explicit guarantees of central governments or public sector entities with an assignment of a 0 % risk weight under Part Three, Title II, Chapter 2 and other exposures attributable to, or guaranteed by central governments or public sector entities with an assignment of a 0 % risk weight under Part Three, Title II, Chapter 2 that are issued on, or before 31.12.2015, shall be exempted from the application of Article 384 (1).
Amendment 913 #
Proposal for a regulation
Article 400 – paragraph 1 – point 1 – point g
Article 400 – paragraph 1 – point 1 – point g
(g) a financial holding company or mixed- activity holding company.
Amendment 927 #
Proposal for a regulation
Article 402 – paragraph 1
Article 402 – paragraph 1
Where a creditn institution does not meet, or is expected not to meet the requirement set out in Article 401(1), it shall immediately notify the competent authorities and shall submit without undue delay to the competent authority a plan for the timely restoration of compliance with Article 401. Until such compliance has been restored, the credit institution shall report the items daily by the end of each business day unless the competent authority authorises a lower frequency and a longer delay. Competent authorities shall only grant such authorisations based on the individual situation of a credit institution. They shall monitor the implementation of the restoration plan and shall require a more timely restoration if appropriate. EBA, in cooperation with the ESRB, shall issue guidance on compliance with liquidity requirements, including principles for the possible use of the stock of liquid assets in a stress scenario and how to address non-compliance.
Amendment 1045 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point e a (new)
Article 404 – paragraph 3 – subparagraph 1 – point e a (new)
(ea) they are not issued by its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company;
Amendment 1053 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 2 a (new)
Article 404 – paragraph 3 – subparagraph 2 a (new)
The condition in point (ea) shall not apply to bonds eligible for the treatment set out in Article 124(3) or (4), or to bonds defined in Article 52(4) of Directive 2009/65/EC.
Amendment 1097 #
Proposal for a regulation
Article 406 – paragraph 1
Article 406 – paragraph 1
1. The value of a liquid asset to be reported shall be its market value, subject to haircuts where appropriate. Where haircuts thatare applied they should reflect at least the duration, the credit and liquidity risk and typical repo haircuts in periods of general market stress. The haircuts shall not be less than 15% for the assets in point (d) of Article 404(1). If the credit institution hedges the price risk associated with an asset, it shall take into account the cash flow resulting from the potential close-out of the hedge.
Amendment 1108 #
Proposal for a regulation
Article 408 – paragraph 2 – subparagraph 1
Article 408 – paragraph 2 – subparagraph 1
Institutions shall regularly assess the likelihood and potential volume of liquidity outflows during the next 30 days as far as products or services are concerned, which are not captured in Articles 410 to 412 and which these institutions offer or sponsor or which potential purchasers would consider to be associated with these institutions, including any contractual arrangements such as other off balance sheet and contingent funding obligations including trade finance off balance sheet related products, as defined in Article 416 [and Annex 1(revised)]. These outflows shall be assessed under the assumption of a combined idiosyncratic and market-wide stress scenario.
Amendment 1145 #
Proposal for a regulation
Article 410 – paragraph 5
Article 410 – paragraph 5
5. Institutions shall multiply liabilities resulting from deposits by clients that are not financial customers by 75% to the extent they do not fall under paragraph 4. a given percentage to reflect the characteristics of the customer and the deposit to the extent they do not fall under paragraph 4. EBA shall develop draft technical standards to specify a range of percentages referred to in this paragraph based on a quantitative study. These standards shall take into account the likelihood of outflows from these deposits different categories of customer and deposit over a 30 day period which shall be assessed through combined idiosyncratic and market wide stress scenarios taking into account historical data by country, industry and by type of deposit. EBA shall submit those draft technical standards to the Commission upon completion of the report to be made under Article 481(2). Power is hereby conferred on the Commission to adopt the draft implementing technical standards referred to in this paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010.
Amendment 1169 #
Proposal for a regulation
Article 412 – paragraph 1
Article 412 – paragraph 1
1. Institutions shall report outflows from credit and liquidity facilities, which shall be determined as a percentage of the maximum amount that can be drawn within the next 30 days. This maximum amount that can be drawn may be assessed net of any liquidity requirement that would be mandated under Article 408 paragraph 2 for the trade finance off balance sheet items and net of the value according to Article 406 of collateral to be provided if the institution can reuse the collateral and if the collateral in the form of liquid assets in accordance with Article 404. The collateral to be provided may not be assets issued by the counterparty of the facility or one of its affiliated entities. If the necessary information is available to the institution, the maximum amount that can be drawn for credit and liquidity facilities provided to SSPEs shall be determined as the maximum amount that could be drawn given an SSPEs own obligations coming due over the next 30 days.
Amendment 1194 #
Proposal for a regulation
Article 413 – paragraph 1
Article 413 – paragraph 1
1. Institutions shall report their capped liquidity inflows. Capped liquidity inflows shall be the liquidity inflows limited to 75% of liquidity outflows. Institutions may exempt liquidity inflows from deposits placed with other institutions and qualifying for the treatments set out in Article 108(6) or Article 108(7) from this limit. Institutions may also exempt inflows where the provider is a parent or a subsidiary institution of the institution or another subsidiary of the same parent institution or linked to the institution by a relationship within the meaning of Article 12(1) of Directive 83/349/EEC.
Amendment 1268 #
Proposal for a regulation
Article 416 – paragraph 2 – subparagraph 1
Article 416 – paragraph 2 – subparagraph 1
The quarterly leverage ratio shall be calculated as an institution's capital measure divided by that institution's total exposure measure and shall be expressed as a percentage.
Amendment 1269 #
Proposal for a regulation
Article 416 – paragraph 2 – subparagraph 2
Article 416 – paragraph 2 – subparagraph 2
Amendment 1272 #
Proposal for a regulation
Article 416 – paragraph 4 – subparagraph 1
Article 416 – paragraph 4 – subparagraph 1
The total exposure measure is the sum of the exposure values of all assets and off- balance sheet items not deducted when determining the capital measure referred to in paragraph 3.which are:
Amendment 1273 #
Proposal for a regulation
Article 416 – paragraph 4 – subparagraph 1 – point a (new)
Article 416 – paragraph 4 – subparagraph 1 – point a (new)
(a) not deducted when determining the capital measure referred to in paragraph 3;
Amendment 1274 #
Proposal for a regulation
Article 416 – paragraph 4 – subparagraph 1 – point b (new)
Article 416 – paragraph 4 – subparagraph 1 – point b (new)
(b) not recognised as a liquid asset under Article 404 and according to the operational requirements in Article 405; and
Amendment 1275 #
Proposal for a regulation
Article 416 – paragraph 4 – subparagraph 1 – point c (new)
Article 416 – paragraph 4 – subparagraph 1 – point c (new)
(c) not recognised as a contractual relationship between a client and clearing member which enables that the client to clear its transactions with a CCP as defined in Article 294.
Amendment 1278 #
Proposal for a regulation
Article 416 – paragraph 5 – point c a (new)
Article 416 – paragraph 5 – point c a (new)
(c a) Unsettled spot purchases or sales need to be captured as if they were already settled, regardless of their accounting treatment.
Amendment 1279 #
Proposal for a regulation
Article 416 – paragraph 6 – subparagraph 1
Article 416 – paragraph 6 – subparagraph 1
Institutions shall determine the exposure value of items listed in Annex II and of credit derivatives in accordance with either the Mark-to-Market Method set out in Article 269 or the Original Exposure Method set out in Article 270. Institutions may use the Original Exposure Method to determine the exposure value of items listed in Annex II and of credit derivatives only if they also use this metho methodology used for determining the exposure value of these items for the purposes of meeting the own funds requirements set out in Article 87.
Amendment 1285 #
Proposal for a regulation
Article 416 – paragraph 7
Article 416 – paragraph 7
7. Institutions shall determine the exposure value of repurchase transactions, securities or commodities lending or borrowing transactions, long settlement transactions and margin lending transactions in accordance with Article 215(1) to (3) andthe methodology used for determining the exposure value of these items for the purposes of meeting the own funds requirements set out in Article 87. In determining the exposure value, institutions shall take into account the effects of master netting agreements, except contractual cross-product netting agreements, in accordance with Article 201.
Amendment 1465 #
Proposal for a regulation
Article 463 – paragraph 1
Article 463 – paragraph 1
1. This Article shall apply only to instruments that were issued prior to 20 July 2011the date of enter into force of this regulation and are not those referred to in Article 462(1).
Amendment 1496 #
Proposal for a regulation
Article 476 a (new)
Article 476 a (new)
Article 476a Competent authorities may exempt institutions from applying paragraph 1(b) if the institutions do not apply the transitional provisions in Part 10, Title 1, Chapter 1-3 and the transitional provisions in the directive (xxx) Title XI, Chapter 2.
Amendment 1596 #
Proposal for a regulation
Article 484 a (new)
Article 484 a (new)
Article 484 a (new) 1. The Commission shall, by 31 December 2013, submit to the European Parliament and the Council proposals, based upon modifications to international standards, for amendment in relation to the own funds requirements for exposures to a central counterparty as set out in Section 9 of Chapter 6 of Title II of Part Three. 2. EBA shall monitor and evaluate the operation of the provisions for own funds requirements for exposures to a central counterparty as set out in Section 9 of Chapter 6 of Title II of Part Three. By 1 January 2015 EBA shall report to the Commission on the impact and effectiveness of such provisions. 3.From the date of implementation of Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions, central counterparties and trade repositories ("EMIR), and until such date as the Commission puts forward revised proposals to Section 9 of Chapter 6 of Title II of Part Three, institutions shall apply the following risk weights to their funded default fund contributions: i) a 50% risk weight for qualifying CCPs; and ii) a 1250% risk weight for non-qualifying CCPs. 4. The Commission shall, by 31 December 2015, submit to the European Parliament and the Council proposals, based upon modifications to international standards and the report made under paragraph (2), for amendment to this Regulation.
Amendment 1597 #
Proposal for a regulation
Article 484 a (new)
Article 484 a (new)
Article 484 a Own fund requirements for exposures to a Central Counterparty By 31 December 2015 the Commission shall review and report on the own funds requirements as set out in Articles 294,295, 296, 297, 298, 299 and 300 and shall submit this report to the European Parliament and the Council, and, if appropriate, a legislative proposal.
Amendment 1637 #
Proposal for a regulation
Annex 1 a (new)
Annex 1 a (new)