Activities of Catherine STIHLER related to 2010/0207(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on Deposit Guarantee Schemes (recast)
Amendments (21)
Amendment 35 #
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) It should be possible for Deposit Guarantee Schemes to go beyond a pure reimbursement function by requiring member institutions to supply additional information and on this basis building up early warning systems. In this way risk- dependent contributions can be adjusted at an early stage or preventive measures against recognised risks can be proposed. In the event of impending imbalances, Deposit Guarantee Scheme operators should be able to decide on support measures or to use their resources to support orderly winding-up of problematic institutions in order to avoid the costs of reimbursing depositors and the other adverse impacts of insolvency.
Amendment 46 #
Proposal for a directive
Article 3 – paragraph 6 – subparagraph 2
Article 3 – paragraph 6 – subparagraph 2
Such tests shall take place at least every three years or more frequently when the circumstances require it. The first test shall take place by 31 December 2013.
Amendment 49 #
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States shall ensure that the coverage for the aggregate deposits of each depositor shall be EUR 1050 000 in the event of deposits being unavailable.
Amendment 50 #
Proposal for a directive
Article 5 – paragraph 1 – subparagraph 1a (new)
Article 5 – paragraph 1 – subparagraph 1a (new)
(1a) Member States outside the euro area will be provided with an equivalent set protection sum in their currency, rounded to the nearest unit of 1000.
Amendment 51 #
Proposal for a directive
Article 5 – paragraph 2 – introductory part
Article 5 – paragraph 2 – introductory part
2. Member States shall ensure that Deposit Guarantee Schemes do not deviate from the coverage level laid down inconfer an entitlement pursuant to paragraph 1. HoweverIn addition, Member States may decidshall ensure that the following deposits are covered provided that the costs for such repayments are not subject to Article 9, 10 and 11fully protected:
Amendment 54 #
Proposal for a directive
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) deposits resulting from real estate transactions forrelating to private residential purposroperties for up to 12 months after the amount has been credited;
Amendment 55 #
Proposal for a directive
Article 5 – paragraph 2 – point b
Article 5 – paragraph 2 – point b
(b) deposits that fulfilserve social considerationpurposes defined in national law and are linked to particular life events such as marriage, divorce, retirement, dismissal, invalidity or decease of a depositor. The coverage shall not exceed a time period of 12 months after such even., for up to 12 months after the amount has been credited;
Amendment 57 #
Proposal for a directive
Article 5 – paragraph 2 – point b a (new)
Article 5 – paragraph 2 – point b a (new)
(ba) deposits that serve purposes defined in national law and are based on the payment of insurance benefits or compensation, for up to 12 months after the amount has been credited.
Amendment 60 #
Proposal for a directive
Article 5 – paragraph 5 – subparagraph 2
Article 5 – paragraph 5 – subparagraph 2
Member States may round off the amounts resulting from the conversion, provided that such rounding off does not exceed EUR 2 55 000.
Amendment 61 #
Proposal for a directive
Article 5 – paragraph 6
Article 5 – paragraph 6
6. The amount referred to in paragraph 1 shall be reviewed periodically by the Commission at least once every five years. If appropriate, the Commission shall submit to the European Parliament and to the Council a proposal for a Directive to adjust the amount referred to in paragraph 1, taking account in particular of developments in the banking sector and the economic and monetary situation in the Union, notably currency fluctuations. The first review shall not take place before 31 December 2015 unless unforeseen events necessitate an earlier review.
Amendment 62 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1a (new)
Article 6 – paragraph 1 – subparagraph 1a (new)
(1a) Member States can decide that deposits are not aggregated within the same credit institution if national law allows for credit institution to operate under different brands. Deposits will be aggregated within the credit institution. In case the amount of the aggregated deposits exceeds the coverage level per depositor of Article 5 (1), the contributions of Articles 9 and 11 will be raised accordingly
Amendment 64 #
Proposal for a directive
Article 7 – paragraph 1 – subparagraph 1 a (new)
Article 7 – paragraph 1 – subparagraph 1 a (new)
From 1 January 2013, the applicable repayment period referred to in paragraph 1 shall be seven working days.
Amendment 74 #
Proposal for a directive
Article 14 – paragraph 3
Article 14 – paragraph 3
3. Information to actual depositors shall be provided on their statements of account, on an information sheet when opening their account and at least annually by posted letter. This information shall consist of a confirmation that the deposits are eligible pursuant to Article 2(1) and Article 4. Moreover, reference shall be made to the information sheet in Annex III and where it can be obtained. The web site of the responsible Deposit Guarantee Scheme may also be indicated.
Amendment 75 #
Proposal for a directive
Article 14 – paragraph 6
Article 14 – paragraph 6
6. If credit institutions merge, their depositors shall be informed of the merger at least one month before it takes legal effect. Depositors shall be informed that when the merger becomes effective, all their deposits held with each of the merging banks would after the merger be aggregated in order to determine their coverage under the Deposit Guarantee Scheme. Depositors will be given a three month period following notification of the merger to choose another bank brand to ensure they are protected in each bank account to the amount set out in Article 5 (1). During the three month period, if the amount set out in Article 5 (1) is exceeded, it will be protected by multiplying the amount set out in Article 5 (1) by the number of accounts which have merged.
Amendment 76 #
Proposal for a directive
Article 14 – paragraph 7
Article 14 – paragraph 7
7. If a depositor uses internet banking, the information required to be disclosed by this Directive shall be communicated by electronic means in a way that brings it to the attention of the depositor or on paper if the depositor chooses.
Amendment 77 #
Proposal for a directive
Annex 3 – paragraph 2
Annex 3 – paragraph 2
This repayment covers at maximum EUR 1050 000 per bank. This means that all deposits at the same bank are aggregated in order to determine the coverage level. If, for instance a depositor holds a savings account with EUR 9120 000 and a current account with EUR 240 000, he or she will only be repaid EUR 1050 000.
Amendment 78 #
Proposal for a directive
Annex 3 – paragraph 3
Annex 3 – paragraph 3
[Only where applicable]: This method will also be applied if a bank operates under different tbranding names for its customers. The [insert name of the account-holding credit institution] also trades under [insert all other brands of the same credit institution]. This means that all deposits with one or more of these brand names are each in total covered up to EUR 1050 000.
Amendment 79 #
Proposal for a directive
Annex 3 – paragraph 4
Annex 3 – paragraph 4
In case of joint accounts, the limit of EUR 1050 000 applies to each depositor.
Amendment 80 #
Proposal for a directive
Annex 3 – paragraph 5
Annex 3 – paragraph 5
[Only where applicable:] However, deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of EUR 1050 000.]
Amendment 81 #
Proposal for a directive
Annex 3 – paragraph 7
Annex 3 – paragraph 7
The responsible Deposit Guarantee Scheme is [insert name and address, telephone, e-mail and web site]. It will repay your deposits (up to EUR 1050 000) within six weeks at the latest, from 31 December 2013 within one week.
Amendment 82 #
Proposal for a directive
Annex 3 – paragraph 9
Annex 3 – paragraph 9
[Only where applicable:] Your deposit is guaranteed by an Institutional Guarantee Scheme [recognized/not recognized] as a Deposit Guarantee Scheme. This means that all banks that are members of this scheme mutually support each other in order to avoid a bank failure. However, if a bank failure would nevertheless occur, your deposits will be repaid up to EUR 1050 000.