Activities of Vicky FORD related to 2011/0203(COD)
Plenary speeches (1)
Credit institutions and prudential supervision - Prudential requirements for credit institutions and investment firms (debate)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms and amending Directive 2002/87/EC of the European Parliament and of the Council on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate PDF (1 MB) DOC (1 MB)
Amendments (26)
Amendment 120 #
Proposal for a directive
Article 40 – paragraph 2
Article 40 – paragraph 2
Such reports may only be required for statistical or information purposes and for the application of Article 52(1).
Amendment 125 #
Proposal for a directive
Article 41 – paragraph 1 – subparagraph 1 – introductory part
Article 41 – paragraph 1 – subparagraph 1 – introductory part
Where the competent authorities of the host Member State on the basis of information received from the competent authorities of the home Member State under Article 51 ascertain that a credit institution having a branch or providing services within its territory fulfils one of the following conditions in relation to the activities carried out in that host Member State, they shall inform the competent authorities of the home Member State:
Amendment 138 #
Proposal for a directive
Article 52 – paragraph 4
Article 52 – paragraph 4
Amendment 143 #
Proposal for a directive
Article 53 – paragraph 2 a (new)
Article 53 – paragraph 2 a (new)
2a. The competent authorities of the host Member State shall have the power to carry out on a case by case basis on-the- spot inspections of the activities carried out by branches of institutions on their territory and require information from a branch about its activities. Before the inspection, the competent authorities of the home Member State shall be consulted. After the inspection, the competent authorities of the host Member State shall communicate to the competent authorities of the home Member State the information obtained and findings that are relevant for the risk assessment of the institution or the stability of the financial system in the host Member State. The competent authorities of the home Member State shall duly take into account this information and these findings in determining their supervisory examination programme referred to in Article 96, having regard also to the stability of the financial system in the host Member State.
Amendment 188 #
Proposal for a directive
Article 74 a (new)
Article 74 a (new)
Article 74 a Public disclosure of return on assets Institutions shall disclose in their annual report among the key indicators their return on total assets and return on risk weighted assets.
Amendment 378 #
Proposal for a directive
Article 96 – paragraph 1 – point c
Article 96 – paragraph 1 – point c
(c) A plan for on-site inspections at the premises used by a institution, including its branches and subsidiaries established in other Member States in accordance with Articles 53, 114 and 116, without prejudice to Article 53(3).
Amendment 408 #
Proposal for a directive
Article 108 – paragraph 1 – point b
Article 108 – paragraph 1 – point b
Amendment 423 #
Proposal for a directive
Chapter 3 a (new)
Chapter 3 a (new)
Chapter 3a Systemic Risks Article 121a Definitions For the purposes of this Chapter, "Systemic risk" means a risk of disruption in the financial system with the potential to have serious negative consequences for the financial system and the real economy.
Amendment 424 #
Proposal for a directive
Article 121 b (new)( in Chapter 3 a (new)
Article 121 b (new)( in Chapter 3 a (new)
Article 121b Designation of a macro-prudential authority Member States may designate an authority which is responsible for addressing systemic risk within its territory and shall notify the ESRB, EBA and the Commission of any such designation.
Amendment 425 #
Proposal for a directive
Article 121 c (new)( in Chapter 3 a (new)
Article 121 c (new)( in Chapter 3 a (new)
Article 121c Measures which the designated authority may take 1. Subject to Article 121e the designated authority may take any measures under national law that it considers necessary to prevent or mitigate systemic risk, or may require the competent authority to take such measures. 2. The measures may include the adoption of requirements concerning in particular: - prudential consolidation, - prudential filters, - own funds requirements, - deductions, - risk weights, - large exposures, - liquidity, - leverage ratio, - capital buffers, - disclosure. Such measures shall however not result in the application of less strict requirements than those provided for in Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms] in relation to the matters within the scope of that Regulation. 3. The measures may apply to all institutions authorised by the competent authority under this Directive which operate in the territory of the Member State or to a class of such institutions. 4. Where the designated authority requires the competent authority to take such measures by use of its supervisory powers in accordance with this Directive, and the competent authority applies the measure to an institution subject to consolidated supervision, it shall inform the members of the college before the measure becomes effective, unless this would jeopardise the stability of the financial markets or be detrimental to the interests of the parties involved. In the latter case, the competent authority shall inform the members of the college as soon as practicable after the measure has taken effect.
Amendment 426 #
Proposal for a directive
Article 121 d (new)( in Chapter 3 a (new)
Article 121 d (new)( in Chapter 3 a (new)
Article 121d Review of measures The designated authority shall review the measures at appropriate intervals and make any amendments it considers appropriate. It shall ensure that the measures cease to have effect when they are no longer considered necessary.
Amendment 427 #
Proposal for a directive
Article 121 e (new)( in Chapter 3 a (new)
Article 121 e (new)( in Chapter 3 a (new)
Article 121e Notification of measures 1. The designated authority shall inform the ESRB in advance of any significant measures which it proposes to take. 2. The designated authority shall inform the ESRB, EBA and the Commission of any measures which it takes, or of any decision to terminate such measures, without undue delay/within 2 working days and shall publish such decisions unless this would jeopardise the stability of the financial markets or be detrimental to the interests of the parties involved.
Amendment 428 #
Proposal for a directive
Article 121 f (new)( in Chapter 3 a (new)
Article 121 f (new)( in Chapter 3 a (new)
Article 121f Assessment, warnings and recommendations by ESRB 1. Where the ESRB determines that the identified macro-prudential risks to financial stability that led to stricter prudential requirements cease to exist, the national authorities shall repeal the stricter requirements and the original provisions of this Directive shall apply. If this does not occur, the ESRB shall issue a recommendation to the Commission to take action against a Member State where the Member State concerned does not act appropriately from a systemic risk perspective. 2. The ESRB may assess the existence of the systemic risks addressed by the measures adopted by the designated authority, and whether they may affect other Member States or the financial system of the Union as a whole. The ESRB shall conduct an assessment when so requested by the Commission or by at least three Member States. 3. The ESRB may issue a warning in accordance with article 16 of Regulation 1092/2010 if it identifies significant systemic risks to the financial stability of the Union that arise from developments within the financial sector. 4. Where such systemic risks are identified, the ESRB may also issue a recommendation in accordance with article 16 of Regulation (EU) No. 1092/2010 for remedial action which it considers a designated authority should take under Article 3 of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms] in response to the risks identified.
Amendment 465 #
Proposal for a directive
Article 125 – paragraph 1 – point c
Article 125 – paragraph 1 – point c
(c) guidance on variables that indicate or might indicate the build-up of system-wide risk in a financial system, and on other relevant factors, including the treatment of economic developments within individual sectors of the economy, that should inform the decisions of designated authorities on the appropriate countercyclical buffer rate under Article 126;
Amendment 477 #
Proposal for a directive
Article 126 – paragraph 3 – point b
Article 126 – paragraph 3 – point b
(b) any current guidance maintained by the ESRB in accordance with Article 125(1)(a), (c) and (d) and any recommendations issued by the ESRB under paragraph 9; and any other variables and qualitative information that designated authorities consider relevant for the purposes of assessing the sustainability of credit growth and the level of system wide risk.
Amendment 478 #
Proposal for a directive
Article 126 – paragraph 3 – point c
Article 126 – paragraph 3 – point c
Amendment 480 #
Proposal for a directive
Article 126 – paragraph 4 – subparagraph 1
Article 126 – paragraph 4 – subparagraph 1
Amendment 483 #
Proposal for a directive
Article 126 – paragraph 4 – subparagraph 2
Article 126 – paragraph 4 – subparagraph 2
Amendment 487 #
Proposal for a directive
Article 126 – paragraph 4 – subparagraph 3
Article 126 – paragraph 4 – subparagraph 3
Amendment 493 #
Proposal for a directive
Article 126 – paragraph 5
Article 126 – paragraph 5
5. The countercyclical buffer rate, expressed as a percentage of the total risk exposure amount referred to in Article 87(3) of Regulation [inserted by OP(EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms] of institutions that have credit exposures in that Member State, must be between 0% and 2.5%, calibrated in steps of 0.25 percentage points or multiples of 0.25 percentage points. Where justified in view of the considerations set out in paragraph 3, a designated authority may set a countercyclical buffer rate in excess of 2.5% of the total risk exposure amount referred to in Article 87(3) of Regulation [inserted by OP] for the purpose set out in Article 130(3)(EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms].
Amendment 496 #
Proposal for a directive
Article 126 – paragraph 6
Article 126 – paragraph 6
6. When a designated authority sets the countercyclical buffer rate above zero for the first time, or when thereafter a designated authority increases the prevailing countercyclical buffer rate setting, it shall also decide the date from which the institutions must apply that increased buffer for the purposes of calculating their institution specific countercyclical capital buffer. That date may be no later than 12 months after the date when the increased buffer setting is announced in accordance with paragraph 8. If the date is less than 12 months after the increased buffer setting is announced, that shorter deadline for application shall be justified by exceptional circumstances.
Amendment 506 #
Proposal for a directive
Article 127 – paragraph 2 – point b
Article 127 – paragraph 2 – point b
(b) the Member State or third country to which it applies;
Amendment 507 #
Proposal for a directive
Article 127 – paragraph 2 – point b
Article 127 – paragraph 2 – point b
(b) the Member State or third country to which it applies;
Amendment 515 #
Proposal for a directive
Article 130 – paragraph 4 – introductory part
Article 130 – paragraph 4 – introductory part
4. Relevant credit exposures shall include all those exposure classes, other than those mentioned in points (a), (b), (d), (e) and (fe) of Article 107 of Regulation [inserted by OP(EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms], that are subject to:
Amendment 531 #
Proposal for a directive
Article 133 – paragraph 1 – point d a (new)
Article 133 – paragraph 1 – point d a (new)
(da) the nature of any supervisory measure taken as a result of the application of Article 95, including the names of the institutions to which any such measures apply.
Amendment 532 #
Proposal for a directive
Article 134 a (new)
Article 134 a (new)
Article 134a Additional disclosure requirements for institutions For the purposes of enhancing market discipline and ensuring the adequate provision of information to the market in order to reduce uncertainty, competent authorities may require institutions or certain types of institutions, to disclose, on an ad hoc or regular basis, any of the following information in addition to that set out in Part Eight of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms]: (a) information reported to the competent authority under Articles 95 and 96 of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms]; (b) specified data relating to elements of the information referred to in point (a), such as maximum, minimum and average measurements, for the period between reporting dates; (c) value of risk-weighted assets broken down by specified categories such as country, asset type and, where applicable, main drivers of the risk, such as loan to income ratio or loan to value ratio; (d) detailed explanations about material changes and trends in capital ratios and risk-weighted assets; and (e) capital requirements based on Basel 1 floors (i.e. Basel 1 risk weights) to allow comparisons of exposures between firms based on a standard measure.