Activities of Jürgen KLUTE related to 2012/2115(INI)
Shadow reports (1)
REPORT on Shadow Banking PDF (182 KB) DOC (98 KB)
Amendments (11)
Amendment 2 #
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
- having regard to the recommendations by the Issing Commission, Memo for the G-20 November 2011 Summit in Cannes, February 2012, http://www.bundesregierung.de/Content/ DE/StatischeSeiten/Breg/G8G20/Anlagen /bericht-issing- cannes.pdf?__blob=publicationFile
Amendment 14 #
Motion for a resolution
Recital C
Recital C
C. whereas despite certain potential positive effects, SB cangiven its limited positive potential, SB can significantly weaken the system, especially through regulatory arbitrage and increased systemic risk;
Amendment 15 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas empirical evidence shows that economic and sovereign debt crises have largely been the result of harmful banking activities, as financial actors are looking for excessive profit opportunities; whereas due to this unsustainable behaviour all types of financial activities need to be under strong public control and oversight;
Amendment 16 #
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas certain banking models notably those that are regionally focussed and which include stakeholder control have proven to be more stress resilient and should consequently be promoted in the future;
Amendment 21 #
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Points out that in the past European and international actors have advocated increasing deregulation and liberalisation of the financial industry which has led to excessive rent-seeking of financial actors; regrets that this has had limited positive effects for the real economy and for the people of Europe but has instead mainly served the financial industry;
Amendment 35 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that since the crisis some of the practices of SB have vanished; notes, however, that the innovativeprofit maximizing nature of the SB system may lead to new developments that may pose a source of systemic risk, which should be tackled; stresses, therefore, the need to collect more and better data on shadow banking transactions, market participants, financial flows and interconnections, in order to obtain a full overview of the sector;
Amendment 62 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. requests the COM to propose a legal act to monitor transactions between financial institutions settled in the EU and institutions which are legally based in jurisdictions which are characterised by imposing significantly less taxes (tax havens) or have lighter regulatory requirements (regulatory arbitrage);
Amendment 72 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Asks the COM to investigate how the proposals of the 'Issing Commission' presented during the G 20 Summit in November 2011 could be implemented in the EU, especially according to the demarcation rule by which banks only should be allowed to enter into business transactions with counterparties subjected to a minimum degree of regulatory oversight;
Amendment 86 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes further that the proposed extension of CRD IV to non-deposit-taking finance companies not covered by the definition in the Capital Requirements Regulation (CRR) is necessary unless an entity serves a social purpose and does not pose a systemic risk to the financial system;
Amendment 132 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the benefitsIs concerned about the risks and challenges related to Exchange Traded Funds (ETFs) provideespecially by giving retail investors access to a wider range of assets (such as commodities, in particular), but stresses the risks ETF carry in terms of complexity, counterparty risk, liquidity of products and possible regulatory arbitrage as well as their contribution to excessive speculation especially for agricultural products and other commodities; invites the Commission, therefore, to submit a legislative proposal at the beginning of 2013 to tackle these potential structural vulnerabilities; and to develop a clear and consistent distinction in the classification of Exchange Trades Products;
Amendment 135 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Invites the Commission to explore options with regard to ex-ante appraisal of new financial products; believes that competent authorities should have the power to ban products before they are marketed to a wider audience;