8 Amendments of Cătălin Sorin IVAN related to 2015/0270(COD)
Amendment 152 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to ensure parallelism with the SSM and the SRM, EDIS should apply to participating Member States. Banks established in the Member States not participating in the SSM should not be subject to EDIS. As long as supervision in a Member State remains outside the SSM, that Member State should remain responsible for ensuring the protection of depositors against the consequences of the insolvency of a credit institutiondeposits becoming unavailable. As Member States join the SSM, they should also automatically become subject to the EDIS. Ultimately, the EDIS could potentially extend to the entire internal market.'
Amendment 166 #
Proposal for a regulation
Recital 17
Recital 17
(17) EDIS should progressively evolve from a reinsurance scheme into a fully mutualised co-insurance scheme over a number of years. In the context of efforts to deepen the EMU, together with the work on the establishment of bridge-financing arrangements for the Single Resolution Fund (SRF) and on developing a common fiscal backstop, this step is necessary to reduce the bank/sovereign links in individual Member States by means of steps towards risk sharing among all the Member States in the Banking Union, and thereby to reinforce the Banking Union in achieving its key objective. HoweverIn parallel, such risk sharing implied by steps to reinforce Banking Union must proceed in parallel with risk reducing measures designed to break the bank-sovereign link more directly.s already supported by the SSM and SRM, which significantly reduce the likelihood of bank failures, and by a wide range of prudential measures which have been taken in respect of banks, with the objective of strengthening supervision and crisis management, improving the amount and quality of capital, reducing concentration of exposures, fostering deleveraging, limiting pro-cyclical lending behaviour, reinforcing access to liquidity, addressing systemic risk due to size, complexity and interconnectedness, reinforcing depositor confidence, and incentivising proper risk management via rules on governance
Amendment 206 #
Proposal for a regulation
Recital 21
Recital 21
(21) While the reinsurance and coinsurance stages would share many common features, ensuring a smooth gradual evolution, pay-outs under the co- insurance stage would be shared between national DGS and the Deposit Insurance Fund as of the first euro of loss. The relative contribution from the Deposit Insurance Fund would gradually increase to 100 percent, resulting in the full mutualisation of depositor risk across the Banking Union after fourwithin three years.
Amendment 220 #
Proposal for a regulation
Recital 23
Recital 23
(23) The Deposit Insurance Fund is an essential element without which the progressive establishment of EDIS could not be achieved. Different national systems of funding would not provide for homogenous deposit insurance across the Banking Union. Throughout the three stages, the Deposit Insurance Fund should help ensuring the stabilising role of DGSs, a uniform high level of protection to all depositors in a harmonised framework throughout the Union and avoiding the creation of obstacles for the exercise of fundamental freedoms or the distortion of competition in the internal market due to different levels of protection at national level, since savers have the right to open a bank account in any Member State irrespective of their legal domicile.
Amendment 246 #
Proposal for a regulation
Recital 27
Recital 27
(27) In principle, contributions should be collected from the industrybanks prior to, and independently of, any deposit insurance action. When prior funding is insufficient to cover the losses or costs incurred by the use of the Deposit Insurance Fund, additional contributions should be collected to bear the additional cost or loss. Moreover, the Deposit Insurance Fund should be able to contract borrowings or other forms of support from credit institutions, financial institutions or other third parties in the event that the ex-ante and ex post contributions are not immediately accessible or do not cover the expenses incurred by the use of the Deposit Insurance Fund in relation to deposit insurance actions.
Amendment 263 #
Proposal for a regulation
Recital 30
Recital 30
(30) Ensuring effective and sufficient financing of the Deposit Insurance Fund is of paramount importance to the credibility and efficiency of EDIS. The capacity of the Board to contract alternative funding means for the Deposit Insurance Fund should be enhanced in a manner that optimises the cost of funding and preserves the creditworthiness of the Deposit Insurance Fund. Immediately after the entry into force of this Regulation, the necessary steps should be taken by the Board in cooperation with the participating Member States to develop the appropriate methods and modalities permitting the enhancement of the borrowing capacity of the Deposit Insurance Fund that should be in place by the date of application of this Regulation. It is essential also to create a mutualised credit line via the European Stability Mechanism (ESM) as an effective common fiscal backstop for the Banking Union to be used as a last resort.
Amendment 763 #
Proposal for a regulation
Article 1 – paragraph 1 – point 36
Article 1 – paragraph 1 – point 36
Regulation (EU) No 806/2014
Article 75 – paragraph 3
Article 75 – paragraph 3
3. The Board shall have a prudent and safe investment strategy that is provided for in the delegated acts adopted pursuant to paragraph 4 of this Article, and shall invest the amounts held in the SRF and the DIF in obligations of the Member States or intergovernmental organisations, or in highly liquid assets of high creditworthiness, taking into account the delegated act referred to in Article 460 of Regulation (EU) No 575/2013 as well as other relevant provisions of that Regulation. Investments shall be sufficiently sectorally, geographically and proportionally diversified. The return on those investments shall benefit the SRF and the DIF respectively, in strict proportion to the monies invested on behalf of each of those funds.
Amendment 774 #
Proposal for a regulation
Article 1 – paragraph 1 – point 37
Article 1 – paragraph 1 – point 37
Regulation (EU) No 806/2014
Article 77 a – paragraph 3 a (new)
Article 77 a – paragraph 3 a (new)
3a. The Board may allow the use of the DIF for alternative measures in order to prevent the failure of a credit institution provided that the conditions defined in the Article 11(3) of the Directive 2014/49/EU are met. The Board may decide that the available financial means may also be used to finance measures to preserve the access of depositors to covered deposits, including transfer of assets and liabilities and deposit book transfer, in the context of national insolvency proceedings, provided that the costs borne by the DIF do not exceed the net amount of compensating covered depositors at the credit institution concerned.