32 Amendments of Carl HAGLUND related to 2011/0202(COD)
Amendment 189 #
Proposal for a regulation
Recital 69
Recital 69
(69) When reviewing the impact of the leverage ratio on different business models, particular attention should be paid to business models which are considered to entail low risk, such as mortgage lending and specialised lending with regional governments, local authorities or public sector entities. It may be appropriate to have a range of leverage ratios with only large international banks aligned with the strictest criteria.
Amendment 247 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
For the purpose of this Regulation any reference to real estate or residential or commercial immovable property or mortgage on such property shall include shares in Finnish residential housing companies operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation. Member States or their competent authorities may allow shares constituting an equivalent indirect holding of real estate to be treated as a direct holding of real estate provided that such indirect holding is specifically regulated in the national law of the Member State and, when pledged as a collateral, provides equivalent protection to creditors.
Amendment 303 #
Proposal for a regulation
Article 9 – paragraph 1 – introductory part
Article 9 – paragraph 1 – introductory part
Amendment 305 #
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
Amendment 306 #
Proposal for a regulation
Article 9 – paragraph 1 – point b
Article 9 – paragraph 1 – point b
Amendment 307 #
Proposal for a regulation
Article 9 – paragraph 1 – point c
Article 9 – paragraph 1 – point c
Amendment 308 #
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
Amendment 390 #
Proposal for a regulation
Article 26 – paragraph 1 – point h – point i
Article 26 – paragraph 1 – point h – point i
(i) there are no preferential distribution treatment regarding the order of distribution payments, including in relation to other Common Equity Tier 1 instruments, and the terms governing the instruments do not provide preferential rights to payment of distributions;
Amendment 447 #
Proposal for a regulation
Article 46 – paragraph 1
Article 46 – paragraph 1
Amendment 461 #
Proposal for a regulation
Article 46 – paragraph 2
Article 46 – paragraph 2
2. For the purposes of calculating own funds on a stand-alone or subconsolidated 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.
Amendment 464 #
Proposal for a regulation
Article 46 – paragraph 3 – introductory part
Article 46 – paragraph 3 – introductory part
3. Competent authorities may, for the purposes of calculating own funds on a stand-alone or sub-consolidated basis, permit institutions not to deduct a holding of an items referred to in points (h) and (i) of Article 33(1) in the following cases:
Amendment 466 #
Proposal for a regulation
Article 46 – paragraph 3 – point a
Article 46 – paragraph 3 – point a
(a) where the holding is in a relevant entity which is included in the same supplementary supervision as the institution in accordance with Directive 2002/87/EC; and all regulated entities included in the supplementary supervision: i) are authorised in a Member State; ii) subject to integrated risk management at group 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 671 #
Proposal for a regulation
Article 120 – paragraph 1 – point b
Article 120 – paragraph 1 – point b
Amendment 681 #
Proposal for a regulation
Article 121 – paragraph 1 – point b
Article 121 – paragraph 1 – point b
Amendment 708 #
Proposal for a regulation
Article 124 – paragraph 1 – subparagraph 1 – point d – introductory part
Article 124 – paragraph 1 – subparagraph 1 – point d – introductory part
(d) loans secured by residential property or shares in Finnish residential housing companies as referred to in Article 120(1)(b) up to the lesser of the principal amount of the liens that are combined with any prior liens and 80 % of the value of the pledged properties or by senior units issued by French Fonds Communs de Créances or by equivalent securitisation entities governed by the laws of a Member State securitising residential property exposures. In the event of such senior units being used as collateral, the special public supervision to protect bond holders as provided for in Article 52(4) of Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) shall ensure that the assets underlying such units shall, at any time while they are included in the cover pool be at least 90 % composed of residential mortgages that are combined with any prior liens up to the lesser of the principal amounts due under the units, the principal amounts of the liens, and 80 % of the value of the pledged properties, that the units qualify for the credit quality step 1 as set out in this Chapter and that such units do not exceed 10 % of the nominal amount of the outstanding issue;
Amendment 710 #
Proposal for a regulation
Article 124 – paragraph 1 – subparagraph 1 – point e
Article 124 – paragraph 1 – subparagraph 1 – point e
(e) loans secured by commercial immovable property or shares in Finnish housing companies as referred to in Article 121(1)(b) up to the lesser of the principal amount of the liens that are combined with any prior liens and 60 % of the value of the pledged properties or by senior units issued by French Fonds Communs de Créances or by equivalent securitisation entities governed by the laws of a Member State securitising commercial immovable property exposures. In the event of such senior units being used as collateral, the special public supervision to protect bond holders as provided for in Article 52(4) of Directive 2009/65/EC shall ensure that the assets underlying such units shall, at any time while they are included in the cover pool be at least 90 % composed of commercial mortgages that are combined with any prior liens up to the lesser of the principal amounts due under the units, the principal amounts of the liens, and 60 % of the value of the pledged properties, that the units qualify for the credit quality step 1 as set out in this Chapter and that such units do not exceed 10 % of the nominal amount of the outstanding issue. Loans secured by commercial immovable property are eligible where the Loan to Value ratio of 60 % is exceeded up to a maximum level of 70 % if the value of the total assets pledged as collateral for the covered bonds exceed the nominal amount outstanding on the covered bond by at least 10 %, and the bondholders' claim meets the legal certainty requirements set out in Chapter 4. The bondholders' claim shall take priority over all other claims on the collateral. Exposures caused by transmission and management of payments of the obligors of, or liquidation proceeds in respect of, loans secured by pledged properties of the senior units or debt securities shall not be comprised in calculating the 90 % limit;
Amendment 754 #
Proposal for a regulation
Article 160 – paragraph 4 – subparagraph 1
Article 160 – paragraph 4 – subparagraph 1
Amendment 755 #
Proposal for a regulation
Article 160 – paragraph 4 – subparagraph 2
Article 160 – paragraph 4 – subparagraph 2
Amendment 775 #
Proposal for a regulation
Article 195 – paragraph 3
Article 195 – paragraph 3
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 842 #
Proposal for a regulation
Article 372 – paragraph 3 b (new)
Article 372 – paragraph 3 b (new)
3b. Transactions with counterparties referred to in Article 2 paragraph (23) and therein subject to the transitional provisions referred to in Article 71 of the Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions, central counterparties and trade repositories ("EMIR) are excluded from the own funds requirements for CVA risk, until the transitional provisions referred to in Article 71 of the Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions cease to apply.
Amendment 844 #
Proposal for a regulation
Article 372 – paragraph 3 c (new)
Article 372 – paragraph 3 c (new)
3c. Transactions with counterparties that do not meet the conditions referred to in Article 5 [Non-financial counterparties] of the Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions, central counterparties and trade repositories ("EMIR) and therefore not subject to the clearing obligation are excluded from the own funds requirements for CVA risk.
Amendment 888 #
Proposal for a regulation
Article 391 – paragraph 1 – subparagraph 1 – point a
Article 391 – paragraph 1 – subparagraph 1 – point a
(a) the exposure is secured, by mortgages on residential property or by shares in Finnish residential housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation;
Amendment 889 #
Proposal for a regulation
Article 391 – paragraph 2 – subparagraph 1 – point a
Article 391 – paragraph 2 – subparagraph 1 – point a
(a) exposures secured by mortgages on offices or other commercial premises, or by shares in Finnish housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation, in respect of offices or other commercial premises;
Amendment 947 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point a a (new)
Article 404 – paragraph 1 – subparagraph 1 – point a a (new)
(aa) assets that are eligible collateral in normal times for intraday liquidity needs and overnight liquidity facilities of a central bank in a Member State or if the liquid assets are held to meet liquidity outflows in the currency of a third country, of the central bank of that third country;
Amendment 992 #
Proposal for a regulation
Article 404 – paragraph 2 – introductory part
Article 404 – paragraph 2 – introductory part
2. The following shall not be considered liquid assets unless they meet the requirements laid down in paragraph 1 (aa):
Amendment 1031 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point b
Article 404 – paragraph 3 – subparagraph 1 – point b
Amendment 1292 #
Proposal for a regulation
Article 416 a (new)
Article 416 a (new)
Article 416 a Leverage Ratio 1. From 1 January 2018, systemic and large international financial institutions shall at all times maintain a minimum leverage ratio of 3%. 2. Following the review required by article 482, the EBA may develop draft regulatory technical standards to increase or decrease the leverage ratio specified in paragraph 1 or to specify different ratios for different kinds of institutions, taking into account any unintended spill over effects this could have, the findings of the review and developments in relevant international standards. Power is conferred on the Commission to adopt the regulatory technical standards referred to in the first sub-paragraph in accordance with the procedure laid down in Articles 10-14 of Regulation (EU) No 1093/2010.
Amendment 1466 #
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 Jul1 January 20113 and are not those referred to in Article 462(1).
Amendment 1525 #
Proposal for a regulation
Article 481 – paragraph 2 – introductory part
Article 481 – paragraph 2 – introductory part
2. EBA and ESMA shall, by 31 December 2013, report to the Commission on appropriate uniform definitions of high and of extremely high liquidity and credit quality of transferable assets for purposes of Article 404. EB, taking into account all relevant factors such as the applicable legal framework, incentive structures, available market initiatives and tools designed to enhance transparency and liquidity of assets, their volatility compared to other assets and which haircuts can be applied. In particular it shall be assessed if gold, equities and major index linked equity instruments, some corporate bonds, bonds and other securities backed by mortgages and which have strict due diligence and performance criteria, can be considered eligible assets under art. 404 (3). EBA and ESMA shall in particular test the adequacy of the following criteria and the appropriate levels for such definitions:
Amendment 1581 #
Proposal for a regulation
Article 482 – paragraph 2 – point g a (new)
Article 482 – paragraph 2 – point g a (new)
(g a) whether a band for the or each leverage ratio should be defined with facility to reduce to a lower level in economic downturns.