4 Amendments of Claudio MORGANTI related to 2013/2021(INI)
Amendment 42 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the 1933 US Glass-Steagall Act on banking separation helped to provide a way out of the worst global financial crisis to have occurred before the present crisis and whereas since the Act was repealed in 1999, there has been a considerable increase in speculative bank investment and financial failures;
Amendment 224 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to come forward with a proposal for mandatory separation of banks’ retail and investment activitiecommercial banks and merchant banks, safeguarding the financial deposit- taking and credit activities forming part and parcel of the real economy, as distinct from activities linked to investment and speculation on national and international financial markets;
Amendment 242 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent and credible ‘ring fence’ around bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view twhereby: (a) commercial banks, that is to say, banks which accept deposits from the public, would be prohibited from carrying out activities related to securities trading and brokerage, and commercial bank functions would be separated from merchant in the event of a bank failure, the ring fence must ensure that the retail entity continues business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entitybank functions; (b) commercial banks would be prohibited from holding interests in, or entering into business cooperation agreements of any kind with, the following: merchant banks, investment banks, securities brokerage firms, and, in general, finance companies which accept deposits from the public;
Amendment 462 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Urges the Commission and the Member States to work together to promote greater diversification of the EU’s banking sector by encouraging and facilitating more consumer-oriented banking, for example through cooperative, building society, peer-to-peer lending and saving bank models; calls also for commercial banks and investment banks to be treated differently for tax purposes, favouring banks in the former category, taking into account their activities in support of the real economy and of small and medium- sized enterprises in particular;