Activities of Anne E. JENSEN related to 2012/0150(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No 1093/2010
Amendments (17)
Amendment 4 #
Proposal for a directive
Recital 15 a (new)
Recital 15 a (new)
(15a) The expenditure of the European Supervisory Authorities (EBA, EIOPA, ESMA) relating to their tasks should be covered by levying fees on credit institutions. The amount of fee levied on a credit institution should be proportionate to the importance and risk profile of the credit institution concerned. These fees should be levied in addition to any fees paid to the Authorities in the cases specified in the relevant instruments of Union law. The overall amount of fees paid to the Authorities should not exceed their expenditure.
Amendment 5 #
Proposal for a directive
Recital 15 b (new)
Recital 15 b (new)
(15b) In a transition period from national co-financing to partial financing from fees, the European Supervisory Authorities (EBA, EIOPA, ESMA) should be fully financed from EU budget.
Amendment 1085 #
Proposal for a directive
Article 38 – paragraph 2 – subparagraph 1 – point b
Article 38 – paragraph 2 – subparagraph 1 – point b
(b) secured liabilities, such as all liabilities that are issued in a covered bond cover pool and related derivatives which have privileged status in the cover pool;
Amendment 1118 #
Proposal for a directive
Article 38 – paragraph 2 – subparagraph 2
Article 38 – paragraph 2 – subparagraph 2
Points (a) and (b) of paragraph 2 shall not prevent resolution authorities, where appropriate, from exercising those powers in relation to any part of a secured liability or a liability for which collateral has been pledged that exceeds the value of the assets, pledge, lien or collateral against which it is secured. Member States mayshall exempt from this provision covered bonds as defined in Article 22(4) of Council Directive 86/611/EECall secured liabilities; Member States shall secure that all assets and liabilities related to a covered bond cover pool remain unaffected and segregated.
Amendment 1150 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. Member States shall ensure that the institutions maintain, at all times, a sufficient aggregate amount of own funds and eligible liabilities expressed as a percentage of the total liabilities of the institution that do not qualify as own funds under Section 1 of Chapter 2 of Title V of Directive 2006/48/EC or under Chapter IV of Directive 2006/49/EC excluding covered bonds which fulfil the requirements in Article 52(4) of Council Directive 2009/65/EEC and are issued by an institution whose orderly and controlled winding down with insolvency remote and segregated cover pools is explicitly provided for in the legislation of the Member State.
Amendment 1166 #
Proposal for a directive
Article 39 – paragraph 3 – introductory part
Article 39 – paragraph 3 – introductory part
3. The minimum aggregate amount pursuant toreferred to in paragraph 1 shall be determined on the basis of the following criteria:
Amendment 1180 #
Proposal for a directive
Article 39 – paragraph 3 – point e – point 1 (new)
Article 39 – paragraph 3 – point e – point 1 (new)
1) if indicated by application of the criteria (a)-(e), or if application of the bail-in tool would be likely to violate the 'no creditor worse off' principle or is contrary to the overall objective of this directive, Member States may set the requirement for bail-in eligible liabilities at zero for the institutions in question.
Amendment 1282 #
Proposal for a directive
Article 52 – paragraph 1 – subparagraph 1 – point c
Article 52 – paragraph 1 – subparagraph 1 – point c
(c) the reduction to zero of that principal amount is permanent. However a temporary write down should be possible for institutions not able to convert to equity if the institution is recapitalized according to art. 37(2)(a);
Amendment 1291 #
Proposal for a directive
Article 56 – paragraph 1 – point i
Article 56 – paragraph 1 – point i
(i) the power to cancel debt instruments issued by an institution under resolution, except for secured liabilities;
Amendment 1293 #
Proposal for a directive
Article 56 – paragraph 1 – point m
Article 56 – paragraph 1 – point m
(m) the power to amend or alter the maturity of debt instruments issued by an institution under resolution or amend the amount of interest payable under such instruments, including by suspending payment for a temporary period except for secured liabilities;
Amendment 1323 #
Proposal for a directive
Article 68 – paragraph 2 – subparagraph 1 – point e
Article 68 – paragraph 2 – subparagraph 1 – point e
(e) structured finance arrangements, including securitiszations and covered bondall assets and secured liabilities in a cover pools, which involve the granting and holding of security by a party to the arrangement or a trustee, agent or nominee.
Amendment 1324 #
Proposal for a directive
Article 71 – paragraph 1 – introductory part
Article 71 – paragraph 1 – introductory part
1. Member States shall ensure that there is appropriate protection for structured finance arrangements, including securitizations and covered bonds and other cover pool liabilities, so as to prevent either of the following:
Amendment 1325 #
Proposal for a directive
Article 71 – paragraph 1 – point a
Article 71 – paragraph 1 – point a
(a) the transfer of some, but not all, of the property, rights and liabilities which constitute or form part of a structured finance arrangement, including securitizations and covered bonds and other cover pool liabilities, to which the credit institution under resolution is a party;
Amendment 1326 #
Proposal for a directive
Article 71 – paragraph 1 – point b
Article 71 – paragraph 1 – point b
(b) the termination or modification through the use of ancillary powers of the property, rights and liabilities which constitute or form part of a structured finance arrangement, including securitizations and covered bonds and other cover pool liabilities, to which the institution under resolution is a party.
Amendment 1515 #
Proposal for a directive
Article 94 – paragraph 7 – point f
Article 94 – paragraph 7 – point f
(f) the complexity of the structure of the institution and the resolvability of the institution, and
Amendment 1519 #
Proposal for a directive
Article 94 – paragraph 7 – point g a (new)
Article 94 – paragraph 7 – point g a (new)
(g a) business models and balance-sheet structures of institutions, and
Amendment 1522 #
Proposal for a directive
Article 94 – paragraph 7 – point g b (new)
Article 94 – paragraph 7 – point g b (new)
(g b) institutions' risk-taking behaviour.