26 Amendments of José GUSMÃO related to 2023/2078(INI)
Amendment 7 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the main purpose in the designing of banking sector economic policies should be to minimise: (1) the likelihood of bank failures, (2) the economic impact of failing banks and (3) the risk of systemic banking crises;
Amendment 8 #
Motion for a resolution
Recital -A a (new)
Recital -A a (new)
-A a. whereas the architecture of the EMU created the conditions for a credit- led growth in peripheral Member States, leading to a disproportionate dependence on the banking sector and overall private indebtedness;
Amendment 15 #
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needs to be supplemented by the creation of a European deposit insurance scheme (EDIS) with no further conditionality;
Amendment 21 #
Motion for a resolution
Recital B
Recital B
B. whereas a completed BU would improve the competitiveness andshall be motivated by fostering stability of the banking sector and consumer choice and facilitate access to financingprotection, while addressing the problem of market concentration;
Amendment 31 #
Motion for a resolution
Recital E
Recital E
Amendment 44 #
Motion for a resolution
Recital F
Recital F
F. whereas a strongthe role of the banking sector is key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and the transition to a green and digital economycrucial to the transition to a sustainable e economy, and banks play a key role for channelling savings into productive investments, hence must refrain from any speculative activities;
Amendment 55 #
Motion for a resolution
Recital H
Recital H
H. whereas EU legislators negotiated rules to implement Basel III standards in a way that preserves banks’ competitiveness and takestaking into account the specificities of the EU banking sector and allowing significant carve-outs;
Amendment 62 #
Motion for a resolution
Recital I
Recital I
I. whereas risks stemming from interest rate hikes have been properly addressedsince July 2022 the ECB increased 10 consecutive times the reference interest rates; whereas the deposit facility rate reached 4%, representing the highest level since the creation of the common currency; whereas the current cycle of restrictive monetary policy is still ongoing; whereas the full set of economic and social consequences are yet to be fully assessed, such as further pressure on the EU and national budgets, on the stability of the financial system, the housing market and hardships for households;
Amendment 72 #
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Believes that a well-diversified banking sector, including small and local banks, as well as public ones, offers the best solution for companies and households;
Amendment 77 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue reducing their exposure to energy intensive corporates and energy derivatives;
Amendment 88 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 95 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Warns that recent increases in the profitability of EU banks are not enough to ensure their competitiveness; highlights that fragmentation limits banks’ ability to undertake strategic investmentsHighlights that the private banking sector is registering significant windfall profits due to the difference between deposit facility rate (DFR) and TLTRO, as well as the severe market concentration of this sector; condemns the ECB’s position against taxing such windfall profits; stresses that a growing number of countries is taxing such windfall profits; Stresses that a growing number of countries is taxing such profits, namely Czech Republic, France, Italy, Germany, Hungary, Lithuania, Spain, Sweden and United Kingdom;
Amendment 105 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation would inStresses that, on average, the top- five banks in EU Member States hold 68% of all banking assets in the market, exceeding 80% in some cases, and that EU’s 37 largest banks account for 71.4% of domestic banking total assets; stresses that this systemic tendency to creaste the profitability of the EU banking sector and financial stability’too big to fail’ banks promotes financial risks, as already proven in the Global Financial Crisis, which have never been truly tackled;
Amendment 115 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights that the banking sector should be key in delivering the transition to a digitalised and carbon neutral economy and in channelling funds to renewable energies; regrets that renewable energy sectors have been hit particularly hard with the increase of interest rates, thus harming the much needed investment in the green transition;
Amendment 131 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the NPL ratio decreased further; calls for the adoption of the proposal for a AECE Directive to develop NPL secondary marketstresses that a significant part of this reduction was done through selling NPLwallets to third-party entities, resulting in large capital losses for the banking sector, often assumed by government budgets, and further unprotected debtors;
Amendment 137 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights thatNotes the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; is concerned, however, that further risks arising from the unprecedented high-level of reference interest rates are still to be fully assessed; calls on supervisors to continue assessing exposures to further interest rate hikes;
Amendment 158 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; regrets, however, that the international framework still encompasses undesirable carve-outs; highlights that the framework will not increase prudential requirements for banks or damage their competitiveness; noteregrets that the implementation of the Basel standards tofor crypto-assets is still pending;
Amendment 161 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Stresses that crypto-assets create new challenges for banks; stresses the need to further improve the MiCA Regulation, namely by including NFT and DeFi, under a so-called MiCA II, as suggested by Christine Lagarde;
Amendment 164 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes that the non-bank financial intermediary sector is continuing to grow; regrets that different rules for these activities may entail significant risks; calls for an appropriate and sound regulatory approach to shadow banking, for the promotion of fair competition with banks and for the risks stemming from banks’ exposure to these activities to be addressed;
Amendment 174 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Believes that prudential safeguards should be put in place in order to guarantee that banks do not get into a position where they need either a resolution or a liquidation;
Amendment 175 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Believes that nationalisation shall be included the toolkit at the disposal of Member States when managing a banking crisis;
Amendment 176 #
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
17 c. Stresses that financial institutions that benefit from any form of public support, including capital relief measures, have to halt dividends distribution, share buybacks and variable remuneration payments;
Amendment 177 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. WelcomNotes the new SRB Chair’s decision to undertake a comprehensive strategic review and deliver a new action plan;
Amendment 179 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Underlines the importance of protecting creditor hierarchy in banking resolution; welcomes the joint ECB banking supervision, SRB and EBA statement regarding the full use of common equity instruments before Additional Tier 1 capital is written down; stresses that Deposit Guarantee Schemes fulfil the purpose of protecting deposits and should not be misused under no circumstance;
Amendment 183 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. WelcomNotes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded,highlights that the expansion of the scope of resolution shall not impact bank concentration; calls for clarification of public interest assessments and for the scope of State aid to be limited;
Amendment 212 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of fundStresses that establishing EDIS should be done with no measures to limit bank exposures to sovereigns, such as the introductions of penalties for the lack of diversification and a risk weighting model for different sovereign loans;