13 Amendments of Sven GIEGOLD related to 2011/0203(COD)
Amendment 74 #
Proposal for a directive
Recital 62 a (new)
Recital 62 a (new)
(62a) In reference to article 345 TFEU, which states that the Treaties shall in no way prejudice the rules in Member States governing the system of property ownership, the provisions of this Directive shall neither favour nor discriminate types of ownership, which are in the scope of this Directive.
Amendment 75 #
Proposal for a directive
Recital 62 b (new)
Recital 62 b (new)
(62b) Article 2(3) lists a number of financial institutions, such as small cooperative banks, with special business models for which the CRD framework is not adequate. Thus, it is appropriate to enable access for financial institutions and thereby promoting competition and diversity. Therefore, as pointed out in article 2(3a), EBA should develop technical standards to define the criteria, which are applied to add new institutions to the list of article 2(3). Enhanced transparency on the features of these criteria is a crucial step to effectively foster market access and competition.
Amendment 82 #
Proposal for a directive
Article 2 – paragraph 3 b (new)
Article 2 – paragraph 3 b (new)
3b. EBA shall develop draft regulatory technical standards to further define the criteria for including an institution on the list in paragraph 3 and for the types of cases that can be covered by national legislation as referred to in Article 3(2). Power is delegated to the Commission to adopt the draft regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 145 #
Proposal for a directive
Article 58 – paragraph 2 – subparagraph 2
Article 58 – paragraph 2 – subparagraph 2
Member States shall communicate to EBA the names of the authorities which may receive information pursuant to paragraphs 1 and 2 and provide EBA on its request with that information.
Amendment 147 #
Proposal for a directive
Article 59 – paragraph 1 – point c
Article 59 – paragraph 1 – point c
(c) the European Systemic Risk Board (ESRB), the European Supervisory Authority (European Securities and Markets Authority) (ESMA) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (EIOPA), where that information is relevant for the exercise of itstheir statutory tasks under Regulations (EU) No 1092/2010., (EU) No 1095/2010 and (EU) No 1094/2010
Amendment 167 #
Proposal for a directive
Article 68 – paragraph 1 a (new)
Article 68 – paragraph 1 a (new)
Member States shall ensure that competent authorities inform EBA without delay and in detail about all sanctions imposed on institutions or individuals under their supervision.
Amendment 249 #
Proposal for a directive
Article 86 – paragraph 1 a (new)
Article 86 – paragraph 1 a (new)
1a. Competent authorities shall ensure that Global Systemically Important Institutions as identified by the Financial Stability Board and those institutions identified by EBA in accordance with Article 22(2) of Regulation (EU) No 1093/2010 develop a comprehensive resolution plan (living will) within one year of the entry into force of this directive. Competent authorities shall approve these plans only if they are compliant with the analysis of EBA pursuant to Article 25 of Regulation (EU) No 1093/2010 and it is demonstrated that the institution can be wound up smoothly and at no cost to public finances. If after two years after the entry into force of this directive no such plan is adopted, the competent authority shall impose corrective prudential requirements and take steps to render the institution resolvable.
Amendment 373 #
Proposal for a directive
Article 92 – paragraph 4 a (new)
Article 92 – paragraph 4 a (new)
4a. Member States shall ensure that whenever a review shows that an institution may pose systemic risk in accordance with Article 23 of Regulation (EU) No 2010/1093 the competent authority informs EBA immediately about the results of the review.
Amendment 413 #
Proposal for a directive
Article 108 – paragraph 3 – subparagraph 1
Article 108 – paragraph 3 – subparagraph 1
In the absence of such a joint decision between the competent authorities within the time period referred to in paragraph 2, a decision on the application of Articles 72, 84, 92, 98 and 99 shall be taken on a consolidated basis by the consolidating supervisor after duly considering the risk assessment of subsidiaries performed by relevant competent authorities. If, at the end of the time period referred to in paragraph 2, any of the competent authorities concerned has referred the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010, the consolidating supervisor shall defer its decision and await any decision that EBA may take in accordance with Article 19(3) of that Regulation, and shall take its decision in conformity with the decision of EBA. The time period referred to in paragraph 2 shall be deemed the conciliation period within the meaning of the Regulation. EBA shall take its decision within 1 month. The matter shall not be referred to EBA after the end of the four month period or after a joint decision has been reached. EBA may start a mediation process also on its own initiative pursuant to Article 19 Paragraph 1 Subparagraph 2 of Regulation (EU) No 1093/2010.
Amendment 415 #
Proposal for a directive
Article 108 – paragraph 3 – subparagraph 2
Article 108 – paragraph 3 – subparagraph 2
The decision on the application of Articles 72, 84, 92, 98 and 99 shall be taken by the respective competent authorities responsible for supervision of subsidiaries of an EU parent credit institution or a EU parent financial holding company or EU parent mixed financial holding company on an individual or sub-consolidated basis after duly considering the views and reservations expressed by the consolidating supervisor. If EBA started an mediation process on its own initiative in accordance with Article 19 of Regulation (EU) No 1093/2010 or if, at the end of the time period referred to in paragraph 2, any of the competent authorities concerned has referred the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010, the competent authorities shall defer their decision and await any decision that EBA shall take in accordance with Article 19(3) of that Regulation, and shall take its decision in conformity with the decision of EBA. The time period referred to in the paragraph 2 shall be deemed the conciliation period within the meaning of that Regulation. EBA shall take its decision within 1 month. The matter shall not be referred to EBA after the end of the four- month period or after a joint decision has been reached.
Amendment 420 #
Proposal for a directive
Article 110 – paragraph 1 – subparagraph 2
Article 110 – paragraph 1 – subparagraph 2
Under these arrangements additional tasks may be entrusted to the consolidating supervisor or EBA and procedures for the decision- making process and for cooperation with other competent authorities, may be specified.
Amendment 421 #
Proposal for a directive
Article 112 – paragraph 1 – subparagraph 4
Article 112 – paragraph 1 – subparagraph 4
Information referred to in the first subparagraph shall at least be regarded as essential if it could materially influence the assessment of the financial soundness of a institution or financial institution in another Member State.
Amendment 422 #
Proposal for a directive
Article 112 – paragraph 2 – subparagraph 2
Article 112 – paragraph 2 – subparagraph 2
Without prejudice to Article 258 TFEU, EBA may act on its own initiative in accordance with the powers conferred on it under Article 19 of Regulation (EU) No 1093/2010.