39 Amendments of Philippe LAMBERTS related to 2010/2074(INI)
Amendment 9 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas all financial markets, actors and instruments must be supervised and regulated as well as all systemically important financial infrastructures such as payment, clearing and settlement systems, mechanisms and platforms, and the associated provision of custodial services in order to preserve financial stability which is a crucial public good; whereas the crisis has put in evidence that bank capital has been clearly insufficient regarding solvability and solvency,
Amendment 11 #
Motion for a resolution
Recital B
Recital B
B. whereas prudential standards must be strengthened and shortcomings concerning the quality and amount of capital, liquidity management, self regulation through internal models and the pro-cyclical nature of Basel II and the CRD that have been revealed by the crisis must be addressed,
Amendment 12 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas self regulation has led to an underestimation of risk exposure of financial institutions in general and banks in particular,
Amendment 13 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas new capital requirements must be scrutinized according to external risk assessments by supervisory authorities, as banks have a strong incentive not to reveal their true risk exposures,
Amendment 14 #
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas it is necessary to expand the crisis management minimum intervention toolbox available to supervisors,
Amendment 15 #
Motion for a resolution
Recital B d (new)
Recital B d (new)
Bd. whereas a clear separation or firewalling between retail and investment banking must be strived for in order to make sure insured deposits are not used as collateral for trading activities,
Amendment 16 #
Motion for a resolution
Recital B e (new)
Recital B e (new)
Be. whereas new standards must be adjusted according to the size of banks as well as their business profile,
Amendment 27 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Amendment 28 #
Motion for a resolution
Recital F b (new)
Recital F b (new)
Fb. whereas an assessment of sustainability risks must be integrated in all lending and investment decision making processes in order to strengthen financial stability and the financial system,
Amendment 30 #
Motion for a resolution
Recital H
Recital H
H. whereas convergence towards a single set of high-quality globalmparability of accounting standards is essential in order to preserve a level playing field and ensure comparability of data globally; whereas such standards must be appropriately upgraded to take account of the lessons learned from the crisis,
Amendment 32 #
Motion for a resolution
Recital I
Recital I
Amendment 52 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Has concerns about structural deficits and imbalances Urges the EC to propose new capital requirements that primarily aim at ensuring the current proposal, as well as the risk ofstability of the EU financial system, while not harming economicthe recovery and economic growth;
Amendment 69 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that the main objective of the CRD revision process is to ensure the stability of the European financial system and stresses that international coordination on financial regulation should be actively promoted in order to reach this goal;
Amendment 72 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Stresses that the full commitment of all parties engaged in the Basel and G20 processes to a clear and coherent implementation calendar is a precondition for successful reform, ensuring an international level playing field and; underlines however that any search for compromise within the Basel process should not prevent the EU from undertaking ambitious financial reforms and from implementing measures in order to avoiding regulatory arbitrage and to protect the European banks against unfair competition from jurisdictions encompassing lower regulatory standards;
Amendment 74 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Underlines that the implementation timetable must reflect the overall impactany transitional period or grandfathering granted to the banking sector for the implementation of the revisednew standards on the industry and its capacity for lending to the real economy without excluding the possibility of grandfathering, phasing in or, if necessary, calendar revisionshould be conditioned to the implementation of restrictions on the distribution of dividends and bonuses as well as to the establishment of ambitious targets regarding the distribution of credit to the real economy;
Amendment 78 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls its concern about the limitations of assumptions concerning correlations made by banks that underlie aspects of the methodology for calculating regulatory capital; stresses the danger of letting banks to police themselves given that internal risks models do not take properly account of tail and systemic risks, regrets that the Commission continues to rely on banks' internal risk models; therefore calls the Commission, National and forthcoming European Banking Authority to strengthen external assessments of banks' risk models and limit the possibility of having recourse to these models in order to define capital requirements;
Amendment 80 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on the Council and Commission to continue to further integrate EU supervision of the banking sector; urges the Council and the Commission to show in the coming weeks that they have started to learn the lessons from the last two chaotic years and hence to drastically strengthen their position on the supervision package at a level of ambition convergent with the reports adopted in ECON committee; believes that preserving financial stability in the EU requires a three-step approach consisting of: i) a strong prevention framework based on the fight against speculation and the internalization of negative externalities created by financial markets on the basis of the principle 'polluter pays'; ii) early intervention mechanisms through the reinforcement of control and intervention powers of future European Supervisory Authorities including the possibility of temporarily forbidding products and limiting potentially dangerous practices; iii) a single European framework for cross-border crisis resolution based on a fair burden sharing treating subsidiaries on a equal basis and requiring that stockholders and creditors contribute to resolution before taxpayers;
Amendment 85 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Considers that European Commission should take into account future developments of financial innovation by introducing a regular review clause in the CRD IV directive proposal;
Amendment 87 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for a proper assessment to be made of the impact on the real economy, with a special focus on SME financing, and, urges the Commission and the forthcoming European Supervisory Authorities to assess properly whether the proposed new standards would increase resilience in case of systemic crisis through stress tests;
Amendment 91 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Deems that it is necessary to expand the crisis management minimum intervention toolbox available to supervisors, beyond the Article 136 of Directive 2006/48/EC, to include at least the power to: require adjustments of capital, liquidity, business mix and internal process; recommend or impose changes of management; limit the terms of banking licenses; impose living wills; impose a total or partial sale; create a Bridge Bank or Good Bank/Bad Bank; require swaps of debt into equity with appropriate haircuts; impose profits and dividend retention and restrictions in order to consolidate capital requirements and to insure that shareholders pay before taxpayers; restructure and transfer assets and liabilities to other institutions with the objective to ensure continuity of systemically important operations; define criteria in order to value impaired assets; take temporary public control; winding- up;
Amendment 94 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Commission to create stringent rules and incentives for the banking sector to manage risk and profit with a view to long-term outcomes and to encouraoblige banks to keep loans on their own books without excessive securitisation and to fully consolidate somintegrate into the balance sheet - according to a clear timetable off-balance sheets items like SPVs;
Amendment 102 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Stresses the need to shrink "too big to fail" financial institutions through the use of reserve and capital requirements scaled to the size, of the firm the firm, tax incentives, antitrust laws, an absolute cap on the balance sheet or other mechanisms;
Amendment 103 #
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Urges the Commission to support narrow banking, by requiring less stringent capital requirements for retail banks that finance the real economy; deems that new capital requirements should not generate additional costs for these institutions;
Amendment 129 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls on the Commission to take proper account of existing differences between tax and accounting balance sheets to avoid any possible competitive disadvantagesMember States' legal frameworks in order to avoid regulatory arbitrage within the EU;
Amendment 149 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Is of the view that a "‘liquidity coverage ratio"’ should take greater account of the risk of concentration of eligible assets in any liquidity buffer, encourage diversification of high quality liquid assets and discourage excessive concentration into one particular asset class; and set in order to discourage banks from running large proprietary trading with cheap short-term funding;
Amendment 158 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Calls on the Commission to ensure that the proposed liquidity standards will not undermine Banks' and more particularly medium and small banks' crucial role of financial intermediation;
Amendment 159 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Urges the Commission to make sure that appropriate liquidity standards are applied to all financial institutions, including investment firms investing funds on behalf of their clients;
Amendment 160 #
Motion for a resolution
Paragraph 20 c (new)
Paragraph 20 c (new)
20c. Calls on the Commission, to make sure that in its forthcoming proposal on the CRD IV revision, off-balance sheet liabilities are covered by liquidity standards;
Amendment 173 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Is concerned abouWelcomes the proposed restrictions on capital distribution as a relevant tool to offset the pro-cyclical nature of a fixed bank-specific capital conservation buffer;
Amendment 181 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Recognises the benefitsNotes the mechanism of through-the- cycle provisioning (expected loss approach) as a possible measure to reduce pro-cyclicality and encourage recognition of expected credit losses with regard to the business cycle, considers that risk assessments should not rely on internal models but on rules set by supervisors;
Amendment 185 #
Motion for a resolution
Paragraph 25 – point a (new)
Paragraph 25 – point a (new)
a) Deems that the forthcoming European Banking Authority should play a leading role for the definition and the implementation of measures related to capital requirements and counter-cyclical capital buffers' standards at the EU level;
Amendment 192 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Notes the concept of a "crude" LR as a possible backstop against building excessive leverage, but has strong concerns about its added valueRecognises that given the complexity of the financial system a leverage ratio is an important tool to complement capital requirements;
Amendment 201 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Is of the view that such a ratio, in order to be effective, must compriseproperly measure exposure arising from off-balance sheet items ands well as derivatives, and that it must be clearly defined, simple and comparable internationally and should, takeing into account the different leverage ratios existing internationally;
Amendment 212 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Is,Takes however, concerned that a crude LR maythe view that a LR must be devised in such a way that it does not penalise entities providing traditional low- risk banking services (such as corporate and real-estate financing) or economies where the corporate sector is financed predominantly through lending;
Amendment 221 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29a. Asks the Basel Committee and the Commission to assess properly leverage ratios options applicable to Tier 1 and Tier 2 taking into account specificities of the EU banking industry;
Amendment 228 #
Motion for a resolution
Paragraph 30 – point a (new)
Paragraph 30 – point a (new)
a) Favours a leverage ratio to be anchored in Pillar I of the Basel Committee framework;
Amendment 229 #
Motion for a resolution
Paragraph 30 – point b (new)
Paragraph 30 – point b (new)
b) Notes the leverage ratio as a necessary tool to measure banks' total exposure, but urges the Commission to device regulatory tools aiming at limiting effectively excessive leverage (in particular, excessive reliance on short- term and wholesale funding);
Amendment 239 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for enhanced standards as regards stress-tests, back-tests and addressing wrong-way riskTakes the view that the revision of the CRD should toughen capital requirements for counterparty credit risk exposures arising from derivatives, repurchase options and securities financing activities;
Amendment 244 #
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32a. Consider that Credit Default Swaps (CDS) should not be used in order to bypass capital requirements;