2024/2055(INI) Banking Union – annual report 2024
Next event: Indicative plenary sitting date 2025/05/05 more...
Lead committee dossier:
Next event: Indicative plenary sitting date 2025/05/05 more...
- Vote scheduled in committee 2025/03/19
Progress: Awaiting committee decision
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
SEEKATZ Ralf ( EPP)
|
FERNÁNDEZ Jonás ( S&D),
MARTÍN FRÍAS Jorge ( PfE),
MALĄG Marlena ( ECR),
EROGLU Engin ( Renew),
TRIDICO Pasquale ( The Left)
|
Lead committee dossier:
Legal Basis:
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Legal Basis:
R, u, l, e, s, , o, f, , P, r, o, c, e, d, u, r, e, , E, P, , 5, 5Subjects
Events
2025/05/05
Indicative plenary sitting date
2025/03/19
Vote scheduled in committee
2024/12/16
European Parliament - Amendments tabled in committee
Documents
2024/11/07
European Parliament - Committee draft report
Documents
2024/10/10
EP - Committee referral announced in Parliament
2024/09/19
EP - SEEKATZ Ralf (EPP) appointed as rapporteur in ECON
Documents
| Amendments | Dossier |
| 279 |
2024/2055(INI)
2024/12/16
ECON
279 amendments...
Amendment 1 #
Motion for a resolution Citation 8 a (new) – having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 10 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) encompasses the Single Supervisory Mechanism, the Single Resolution Mechanism and
Amendment 100 #
Motion for a resolution Paragraph 5 a (new) 5a. Recognises that in order to address new challenges and the rising competition from third countries, there is a growing need for funding instruments; in this regard, a review of the securitisation framework to enhance European markets and the introduction of European secured notes as a dual-recourse funding instrument for long-term SME financing are essential;
Amendment 101 #
Motion for a resolution Paragraph 5 a (new) 5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buyback was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buyback in times of crisis;
Amendment 102 #
Motion for a resolution Paragraph 5 a (new) 5 a. Stresses the need to support measures for the structural reform of EU G-SIBs as the only way to remove the threat that large banks pose to financial stability and, consequently, fundamentally address moral hazard risks;
Amendment 103 #
Motion for a resolution Paragraph 5 a (new) 5 a. Underlines that financial literacy is essential in modern economies, contributing to the resilience of the banking systems across Member States and encouraging cross-border financial activity;
Amendment 104 #
Motion for a resolution Paragraph 5 a (new) 5 a. Calls for increasing financial inclusion by facing bank desertification and providing credit and financial services in geographic areas with a poor distribution of bank branches;
Amendment 105 #
Motion for a resolution Paragraph 5 b (new) 5b. Takes the view that the banking sector is sufficiently regulated on supervisory and resolution matters and that it is therefore necessary to limit substantial changes in the legal framework to concrete aspects that work towards the goals of digitalisation, modernisation, simplification, streamlining and increased competitiveness; maintains that legal certainty, security, predictability and stability are essential for EU banks to be able to operate under favourable conditions;
Amendment 106 #
Motion for a resolution Paragraph 5 b (new) 5 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 107 #
Motion for a resolution Paragraph 5 b (new) 5 b. Reminds that the Banking Union also entails alternative financing solutions especially for SMEs such as factoring or commercial finance; notes that, in addition to traditional loans, diverse sources of financing can be beneficial for EU growth and EU competitiveness, and recognises the low- risk nature of asset-backed financing solutions;
Amendment 108 #
Motion for a resolution Paragraph 5 b (new) 5 b. Calls on the European Commission to create additional incentives for banks to prioritise green financing, including tax credits and access to low-interest loans for sustainable projects, which can position European banks as leaders in financing the green transition;
Amendment 109 #
Motion for a resolution Paragraph 5 c (new) 5 c. Recalls that the IMF's World Financial Stability Report published in October 2024 identifies the non-bank financial sector as a potential source of risk, citing its interconnections, the possible mismatch of liquidity, and the lack of transparency;
Amendment 11 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) encompasses the Single Supervisory Mechanism, the Single Resolution Mechanism
Amendment 110 #
Motion for a resolution Paragraph 5 d (new) 5 d. Highlights the role of the banking sector in supporting the transition to a digitalised and carbon neutral economy, in channelling funds to renewable energy sources and in supporting the achievement of the objectives of the EU Green Deal and the EU Climate Law; takes note of EU banks continuing to reduce their exposure to energy intensive and fossil fuel corporates; notes that fossil fuels are the main contributor to accelerating climate change, and that many fossil fuel assets will need to be abandoned before the end of their economic life, losing all of their value and becoming stranded assets;
Amendment 111 #
Motion for a resolution Paragraph 5 e (new) 5 e. Regrets the failure of financial institutions to ensure gender-balance, especially in their management bodies; stresses that gender balance on boards and in the workforce brings both societal and economic returns; calls on financial institutions to regularly update their diversity and inclusion policies and to help foster healthy working cultures which prioritise inclusivity; calls on supervisory authorities to make use of their supervisory powers to address the lack of diversity and gender-balance in the management bodies of financial institutions;
Amendment 112 #
Motion for a resolution Paragraph 6 6.
Amendment 113 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU;
Amendment 114 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU;
Amendment 115 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU;
Amendment 116 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU;
Amendment 117 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; stresses that the Commission should
Amendment 118 #
Motion for a resolution Paragraph 6 6.
Amendment 119 #
Motion for a resolution Paragraph 6 6.
Amendment 12 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) encompasses the Single Supervisory Mechanism, the Single Resolution Mechanism and high minimum standards in the area of deposit insurance, which nonetheless do not include the needed European deposit insurance scheme (EDIS), the third pillar of the BU proposed more than a decade ago;
Amendment 120 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the competitiveness of EU banks;
Amendment 121 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the competitiveness of EU banks, recognising that other regions have not yet adopted this framework; welcomes, in this regard, the delegated act postponing the date of application of the new market risk framework by one year to 1 January 2026; besides such postponement, calls on the Commission to consider further adjustments to the framework in order to reduce the impact of the FRTB and the risk of competitive disadvantage for all banks regardless of the risk methodologies adopted;
Amendment 122 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; underlines the continued lack of clarity concerning implementation of the Basel III standards in some other jurisdictions and the risk of international level playing field issues that this could create; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the competitiveness of EU banks; welcomes, in this regard, the delegated act postponing the date of application of the new market risk framework by one year to 1 January 2026;
Amendment 123 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; notes with concern that other jurisdictions have pursued a less ambitious agenda; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the international competitiveness of EU banks; welcomes, in this regard, the delegated act postponing the date of application of the new market risk framework by one year to 1 January 2026;
Amendment 124 #
Motion for a resolution Paragraph 6 6. Welcomes the adoption by co- legislators of the new banking package implementing Basel III standards in the EU; stresses that the Commission should evaluate thoroughly whether a delay in implementation is necessary to maintain the competitiveness of EU banks; welcomes, in this regard, the delegated act postponing the date of application of the new market risk framework by one year to 1 January 2026; urges the Commission to carry out a thorough check on whether other jurisdictions, mainly our competitors, are implementing the agreement and, if they are not, to consider not proceeding with its implementation in the EU so that the competitiveness of European banks is not hampered;
Amendment 125 #
Motion for a resolution Paragraph 6 a (new) 6 a. Underlines that credit institutions should be encouraged to engage in proactive, preventive and meaningful debt restructuring to support debtors, when deemed appropriate, without necessarily entailing that a default shall be considered to have occurred; stresses that the current specification of what constitutes a material diminished financial obligation in case of distressed restructuring does not provide adequate flexibility to credit institution; calls for a more granular classification that takes in due consideration, among other things, the kind of concession granted, the residual maturity of the exposure and the length of the postponement; recalls that the political agreement on the revision of the CRR regulation invites the EBA to review its guidelines on the matter by taking into account the necessity to encourage institutions to engage in proactive, preventive and meaningful debt restructuring to support obligors and by providing adequate flexibility to institutions; calls the EBA to respect the indications given by the co-legislators;
Amendment 126 #
Motion for a resolution Paragraph 6 a (new) 6a. Notes that the banking packages include a significant number of mandates for the EBA; calls on the EBA to respect these mandates to avoid worsening the impact on banks' capacity to lend to SMEs and households;
Amendment 127 #
Motion for a resolution Paragraph 6 a (new) 6 a. Recalls that the Banking Package contains a high number of mandates to the EBA; calls on the EBA to stick to such mandates as to avoid an increase in impact on banks’ lending capacity;
Amendment 128 #
Motion for a resolution Paragraph 7 7. Notes that, already within the existing regulatory framework, the banking sector has shown its resilience during the market events of recent years, and that the average Common Equity Tier 1 ratio has remained at high levels, at 15.81 %;
Amendment 129 #
Motion for a resolution Paragraph 7 7. Notes that the average Common Equity Tier 1 ratio has remained at high levels, at 15.81 %, and that in order to facilitate financial inclusion and address the issue of bank desertification, the benefit provided by SMEs supporting factors should be enhanced by 50% for all credit exposures originated by the only operating bank in the municipality, whereby this policy would aim to ensure the presence of at least one bank branch in each municipality, thereby providing financial services and facilitating credit access to SMEs and green investments;
Amendment 13 #
Motion for a resolution Recital A a (new) Aa. whereas the main objective of the BU is to safeguard the stability of the banking sector in Europe and prevent the need to bail out banks at risk of failure with taxpayers' money;
Amendment 130 #
Motion for a resolution Paragraph 7 7. Notes that the average Common Equity Tier 1 ratio has remained at high levels, at 15.81 % pointing to a high level of resilience of European banks;
Amendment 131 #
Motion for a resolution Paragraph 8 8. Notes that the non-performing loan
Amendment 132 #
Motion for a resolution Paragraph 8 8. Notes that the non- performing loan
Amendment 133 #
Motion for a resolution Paragraph 8 a (new) 8a. Notes that the ratio of non- performing loans has remained stable at around 2.30 % since the third quarter of 2022; notes that, in absolute terms, the EUR 356.1 billion in non-performing loans recorded at the 110 supervised institutions compare to EUR 988.9 billion in non-performing loans recorded at the 102 supervised institutions in the second quarter of 2015, which reflects a significant downward trajectory, leaving the total non-performing loan stock at 36 % of what it was in 2015; considers that there should be a real effort to reduce European banks' exposure to that type of loan;
Amendment 134 #
Motion for a resolution Paragraph 8 a (new) 8 a. Highlights adverse macroeconomic conditions and geopolitical headwinds, which might lead to a deterioration in asset quality; therefore highlights the importance of prudent risk management and appropriate provisioning;
Amendment 135 #
Motion for a resolution Paragraph 8 a (new) 8 a. Notes the need for an appropriate classification of non-performing loans, distinguishing between strategic and non- strategic defaulters, each of which should be treated differently;
Amendment 136 #
Motion for a resolution Paragraph 8 a (new) 8 a. Warns, however, of the gradual deterioration of asset quality, driven by commercial real-estate, small and medium-sized enterprises and consumer credit;
Amendment 137 #
Motion for a resolution Paragraph 8 a (new) 8 a. Draws attention to the rapid development of deferred payment services, which may affect the level of non- performing loans in the future;
Amendment 138 #
Motion for a resolution Paragraph 8 b (new) 8b. Notes, in this regard, the varying levels of exposure to non-performing loans and recalls that there are Member States which have exposure levels in the order of 1 % or even lower, while other Member States have exposure levels exceeding 3 % or even 4 %;
Amendment 139 #
Motion for a resolution Paragraph 9 Amendment 14 #
Motion for a resolution Recital A a (new) A a. whereas the main objective of the Banking Union is to safeguard the stability of the banking sector in Europe and prevent the need to bail out banks at risk of failure with taxpayers' money;
Amendment 140 #
Motion for a resolution Paragraph 9 Amendment 141 #
Motion for a resolution Paragraph 9 Amendment 142 #
Motion for a resolution Paragraph 9 9.
Amendment 143 #
Motion for a resolution Paragraph 9 9. Notes the lack of progress on the proposal for a directive on credit servicers, credit purchasers and the recovery of collateral, which intends to provide banks, under certain conditions, with a mechanism for accelerating the value recovery from secured loans via extrajudicial enforcement of procedures in order to further develop secondary markets for non-performing loans; calls for more thought to be given to the setting-up of a European guarantee scheme designed to facilitate any disposal of non-performing loans;
Amendment 144 #
Motion for a resolution Paragraph 9 9.
Amendment 145 #
Motion for a resolution Paragraph 9 9. Notes the lack of progress on the proposal for a directive on credit servicers, credit purchasers and the recovery of collateral, which intends to provide banks, under certain conditions, with a mechanism for accelerating the value recovery from secured loans via extrajudicial enforcement of procedures in order to further develop secondary markets for non-performing loans; calls for further reflections on a European guarantee system aimed at facilitating NPLs disposals under certain conditions;
Amendment 146 #
Motion for a resolution Paragraph 9 a (new) 9 a. Underlines that in 2023 interest on commercial banks’ holdings of central bank reserves resulted in the Eurosystem paying EUR 152 billion interest to credit institutions allowing them to incur high profits on highly liquid assets; stresses that such interest transfers to commercial banks reduce profit transfers to national governments amounting to an exorbitant subsidy to the banking sector outside the remit of democratic deliberation and scrutiny; asks for the mitigation of this issue in a structural manner by considering imposing non-interest- bearing minimum reserve requirements on part of the bank reserves, while remunerating the reserves in excess of these minimum requirements;
Amendment 147 #
Motion for a resolution Paragraph 9 a (new) 9 a. Notes that the EBA Guidelines on distressed restructuring are outdated and should be revised as to avoid an unjustified increase of banks exposures classified as defaulted and to remove the current inconsistencies between the latter Guidelines and other pieces of legislations aimed at encouraging banks to grant forbearance measures; in the same vein, recalls the mandate given to EBA on such topic;
Amendment 148 #
Motion for a resolution Paragraph 9 a (new) 9a. Notes that the current framework unduly increases the exposures of banks classified as non-compliant, thus impacting debtors facing temporary difficulties; points out that the mandate that the banking package confers on the EBA provides a window of opportunity to tackle this issue;
Amendment 149 #
Motion for a resolution Paragraph 10 Amendment 15 #
Motion for a resolution Recital A a (new) A a. whereas the EU should ensure timely, full and faithful implementation of Basel III standards;
Amendment 150 #
Motion for a resolution Paragraph 10 Amendment 151 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability
Amendment 152 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability
Amendment 153 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability may provide an opportunity for some Member States to implement additional targeted increases in macroprudential buffers
Amendment 154 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability may provide an opportunity for some Member States to implement additional targeted increases in macroprudential buffers and help to preserve banking sector resilience; emphasises the need to ensure consistent application of macroprudential supervision tools through greater coordination among competent authorities and to strengthen the role of the European Central Bank to facilitate the cross-border operations of banking groups and banking consolidation within the European Union;
Amendment 155 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability may provide an opportunity for some Member States to implement additional targeted increases in macroprudential buffers and help to preserve banking sector resilience; stresses that rising interest rates, the ongoing trade war and commitments to invest in greening, regardless of the profitability of these investments, could greatly increase funding costs and could affect banks' profitability considerably;
Amendment 156 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability may provide an opportunity for some Member States to implement additional targeted increases in macroprudential buffers and help to preserve banking sector resilience; on the other hand, calls on the European Commission to carefully evaluate how to revise the whole macroprudential framework as to avoid unduly increase of capital requirements;
Amendment 157 #
Motion for a resolution Paragraph 10 10. Notes that the current levels of banking sector profitability may provide an opportunity for some Member States to implement additional targeted increases in macroprudential buffers and help to preserve banking sector resilience; calls also on the Commission to review the entire macroprudential framework in order to prevent an undue increase in capital requirements;
Amendment 158 #
Motion for a resolution Paragraph 10 a (new) 10 a. Welcomes President von der Leyen's commitment to bring foward risk- absorbing measures to make it easier for commercial banks, investors and venture capital to finance fast-growing companies1a; notes that adjusting the risk appetite of European banks could unlock significant investment capital but this must be done in a way that does not pose a systemic risk or moral hazard; _________________ 1a Ursula Von der Leyen, Europe's Choice: Political Guidelines for the next European Commission 2024-2029, p.11, https://commission.europa.eu/document/d ownload/e6cd4328-673c-4e7a-8683- f63ffb2cf648_en?filename=Political%20G uidelines%202024-2029_EN.pdf
Amendment 159 #
Motion for a resolution Paragraph 10 a (new) 10 a. Welcomes the EIOPA report on the ’Prudential Treatment of Sustainability Risks’; supports the report’s findings that additional capital charges for fossil-fuel related bonds and equities are appropriate given their higher risk-profile; calls on the EBA to update its stance on the matter;
Amendment 16 #
Motion for a resolution Recital A b (new) A b. whereas the priority of the Banking Union should be to break the state-bank doom loop;
Amendment 160 #
Motion for a resolution Paragraph 10 a (new) 10a. Instructs the ECB to calculate the cost of compliance with CSDDD, CSRD and other green and sustainability legislation, paying particular attention to the cost of consultancy fees necessary to comply with these obligations;
Amendment 161 #
Motion for a resolution Paragraph 10 b (new) 10 b. Stresses the need to increase capital requirements for climate-risk exposures, notably by implementing a ’one-for-one’ capital rule, whereby each euro of financing for new fossil fuel exploration is matched by one euro of lender capital;
Amendment 162 #
Motion for a resolution Paragraph 10 c (new) 10 c. Stresses the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; underlines the importance of the Taxonomy regulation for such an endeavour;
Amendment 163 #
Motion for a resolution Paragraph 10 d (new) 10 d. Considers that the sustainable finance framework remains incomplete; stresses the need to expand the current scope of the Taxonomy regulation by including a classification system for environmentally unsustainable as well as socially sustainable activities; calls for a revision of the Sustainable Financial Disclosure Regulation to eliminate greenwashing opportunities and to incorporate minimum binding sustainability standards for financial products and funds to be marketed as sustainable to investors;
Amendment 164 #
Motion for a resolution Paragraph 11 11. Welcomes the creation of the new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA); calls for close cooperation of AMLA with both national and international existing stakeholders in the combat against money laundering practices, aiming at avoiding duplication of work or any other additional bureaucratic burden for all relevant actors in the private sector;
Amendment 165 #
Motion for a resolution Paragraph 11 11. Welcomes the creation of the new Authority for Anti-Money Laundering and Countering the Financing of Terrorism; stresses the importance of having sound, experienced and diverse management within the authority as the internal operations of the authority will significantly impact on its integrity and effectiveness;
Amendment 166 #
Motion for a resolution Paragraph 11 11. Welcomes the creation of the new Authority for Anti-Money Laundering and Countering the Financing of Terrorism, which will allow for more effective ways to combat money laundering and terrorist financing via direct supervision of certain financial entities and better cooperation and flow information between national authorities;
Amendment 167 #
Motion for a resolution Paragraph 12 12.
Amendment 168 #
Motion for a resolution Paragraph 12 12. Stresses the need to enhance the resilience of non-bank financial intermediaries
Amendment 169 #
Motion for a resolution Paragraph 12 12. Stresses the need to enhance the resilience of non-bank financial intermediaries and establish a level playing field with the banking sector
Amendment 17 #
Motion for a resolution Recital B B. whereas a
Amendment 170 #
Motion for a resolution Paragraph 12 12. Stresses the need to enhance the resilience of non-bank financial intermediaries and establish a level playing field with the banking sector, including by designing specific regulatory and supervisory tools to prevent a liquidity crisis; welcomes the Commission consultation on macroprudential policies for nonbank financial intermediaries (NBFIs); supports the Eurosystem’s recommendation of introducing system- wide stress tests for identifying and quantifying risks to the resilience of core markets;
Amendment 171 #
Motion for a resolution Paragraph 12 12. Stresses the need to enhance the resilience of non-bank financial intermediaries and establish a level playing field with the banking sector, including by designing specific regulatory and supervisory tools to prevent a liquidity crisis; points out that such measures must guarantee the security of the system and be in the best interests of the customer;
Amendment 172 #
Motion for a resolution Paragraph 12 a (new) 12 a. Notes that the ECB takes into account climate- and nature-related financial risks in its supervisory practices and monitors growing physical and transition risks closely; welcomes, among other things, the ECB’s second economy- wide climate stress test in September 2023; takes note of the conclusions of the ECB’s Occasional Paper Series No. 328 on ‘The Road to Paris: stress testing the transition towards a net-zero economy’ as it claims that the best way to achieve a net-zero economy for firms, households and banks in the euro area is to accelerate the green transition to a rate that is faster than under current policies;
Amendment 173 #
Motion for a resolution Paragraph 12 a (new) 12 a. Recalls that the securitisation of commercial bank loans played a key role in the emergence of the global financial crisis; warns against relaxing the prudential framework and lowering the due diligence rules associated with securitised exposures; stresses that proposals of introducing public guarantees to scale up the securitisation market are at odds with the post-financial crisis commitment that taxpayers will not have to pay again for financial institutions;
Amendment 174 #
Motion for a resolution Paragraph 12 a (new) 12 a. Highligths that there can be no such thing as a completed Banking Union without a macroprudential framework for non-bank financial intermediaries (’shadow banks’); highlights therefore the need for a European regulatory framework for NBFIs to ensure a level playing-field and support financial stability;
Amendment 175 #
Motion for a resolution Paragraph 12 a (new) 12a. Calls on the SSM to investigate whether the UK Government's decision in October 2023 to abolish the bonus cap is encouraging UK bankers and fund managers to adopt riskier behaviour, and whether this decision is leading to a brain drain from European to UK banks;
Amendment 176 #
Motion for a resolution Paragraph 12 b (new) 12 b. Acknowledges the progresses made over the last 10 years through the establishment of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM); calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 177 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence;
Amendment 178 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence;
Amendment 179 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence;
Amendment 18 #
Motion for a resolution Recital B B. whereas a completed BU would be a positive development for EU citizens and businesses, improv
Amendment 180 #
Motion for a resolution Paragraph 13 13.
Amendment 181 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence;
Amendment 182 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools
Amendment 183 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence; notes that
Amendment 184 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence;
Amendment 185 #
Motion for a resolution Paragraph 13 13. Welcomes the objective of the proposal on crisis management and deposit insurance of ensuring a more consistent approach across all Member States to the application of resolution tools and deposit protection to enhance financial stability, taxpayer protection and depositor confidence; notes that small banks do not pose any risks to financial stability and warns against overextending the scope of the resolution regime; points out in particular that the review of the crisis management and deposit insurance framework must not have negative effects for the proper functioning of institutional protection schemes;
Amendment 186 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ primary trust and creditors’
Amendment 187 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that
Amendment 188 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure
Amendment 189 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that the bail-in of shareholders and creditors must remain the main source for resolution financing
Amendment 19 #
Motion for a resolution Recital B B. whereas a
Amendment 190 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that the bail-in of shareholders and creditors must remain the main source for resolution financing before any recourse is made to industry-funded sources; nevertheless considers that, in specific social circumstances, public intervention can be considered an instrument of last resort;
Amendment 191 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that the bail-in of shareholders and creditors must remain the main source for resolution financing before any recourse is made to industry-funded sources; highlights that ‘bridge the gap’ measures should therefore only be used with caution and subject to appropriate safeguards;
Amendment 192 #
Motion for a resolution Paragraph 14 14. Highlights the importance of preserving shareholders’ and creditors’ primary responsibility for bearing losses in the event of a bank’s failure, which is still a key lesson learned from the global financial crisis; stresses that the bail-in of shareholders and creditors must remain the main source for resolution financing before any recourse is made to industry-funded sources; nonetheless, it considers that in certain circumstances public intervention could be envisaged as a last resource tool, as foreseen in other jurisdictions;
Amendment 193 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; w
Amendment 194 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation;
Amendment 195 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation;
Amendment 196 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; warns that reductions in this minimum requirement, resulting from specific resolution strategies in the resolution planning phase, could hamper
Amendment 197 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; warns that reductions in this minimum requirement, resulting from specific resolution strategies in the resolution planning phase, could hamper the resolvability of banks; underlines that this minimum requirement should be sufficient to effectively implement any of the resolution strategies included in a bank's resolution plan;
Amendment 198 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; warns that reductions in this minimum requirement, resulting from specific resolution strategies in the resolution planning phase, could hamper the resolvability of banks; on the other hand, recalls that the resolution framework should avoid unduly increase in MREL calibration and disproportionate contributions to the SRF;
Amendment 199 #
Motion for a resolution Paragraph 15 15. Recalls that a sufficient minimum requirement for own funds and eligible liabilities is crucial for a credible resolution framework and for ensuring that resolution authorities have sufficient flexibility to effectively apply the resolution strategies needed in a specific crisis situation; warns that reductions in this minimum requirement, resulting from specific resolution strategies in the resolution planning phase, could hamper the resolvability of banks; calls for the SRB's recommendations on the crisis resolution strategy to be taken into account;
Amendment 2 #
Motion for a resolution Citation 8 b (new) – having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 20 #
Motion for a resolution Recital B a (new) B a. whereas the need remains to limit the damage due to failures within the current structure of the banking system, structural reforms aimed at reducing a priori the systemic risks due to interconnections and complexity, underpinning the ’too big to fail problem’, would be much more effective;
Amendment 200 #
Motion for a resolution Paragraph 15 a (new) 15 a. Stresses that, if a bank's eligible liabilities are issued to non-EU investors, the writing down or conversion of these liabilities should be enforceable with full certainty, in order to safeguard the effective application of resolution tools;
Amendment 201 #
Motion for a resolution Paragraph 16 Amendment 202 #
Motion for a resolution Paragraph 16 16.
Amendment 203 #
Motion for a resolution Paragraph 16 16. Highlights that liquidity support in resolution should not, in principle, be based on any additional public funds;
Amendment 204 #
Motion for a resolution Paragraph 16 16. Highlights that liquidity support in resolution, in principle, should not be based on any additional public funds
Amendment 205 #
Motion for a resolution Paragraph 16 16. Highlights that liquidity support in resolution should not be based on any additional public funds;
Amendment 206 #
Motion for a resolution Paragraph 16 16. Highlights that liquidity support in resolution should not be based on any additional public funds; notes that any reliance on taxpayer money for the resolution of banks should be avoided, in keeping with the principles of fiscal responsibility and market discipline;
Amendment 207 #
Motion for a resolution Paragraph 16 a (new) 16 a. The haircut on deposits, as enforced in the Republic of Cyprus in 2013, must never be repeated, securing the trust of all citizens of the European Union in banks;
Amendment 208 #
Motion for a resolution Paragraph 16 – point 1 (new) (1) Calls on the Cypriot Government to find ways to gradually compensate depositors who were affected by the haircuts and natural persons who possessed securities;
Amendment 209 #
Motion for a resolution Paragraph 16 a (new) 16 a. Recalls that banks need to continue to meet their obligations and perform their key functions after the implementation of a resolution decision; is concerned that banks might face liquidity stress in resolution immediately after regaining market access; calls for the EU institutions to agree on a solution that provides confidence and enhances predictability;
Amendment 21 #
Motion for a resolution Recital B a (new) Ba. whereas the BU must ensure that the banking sector in the euro area and the wider EU is stable, safe and reliable, thus contributing to financial stability;
Amendment 210 #
Motion for a resolution Paragraph 16 a (new) 16 a. Takes note of the SRB 2025 work programme; is of the opinion that such documents would benefit by greater clarity on the specific shortcomings meant to be addressed, the precise objectives set by the SRB and how progress can be verified by the end of the year;
Amendment 211 #
Motion for a resolution Paragraph 16 a (new) 16 a. Stresses the importance of tackling at EU level the issue of liquidity in resolution on the basis of the role of the ECB as liquidity provider, fully respecting its need for guarantees to perform its mandate;
Amendment 212 #
Motion for a resolution Paragraph 16 b (new) 16 b. Underlines the SRB announcement to enhance its capabilities for launching enforcement action to remove substantive impediments to resolvability; asks the SRB to clarify whether such enforcement problems are attributable to a lack of legislative empowerment or missing internal capabilities; recalls that the SRB has been showing outstanding delays in the identification and removal of significant resolvability impediments for institutions under its remit; supports that its ongoing work would benefit from greater transparency; calls, therefore, for the publication at the end of each resolution planning cycle of an anonymised list of identified impediments to resolvability and the actions adopted to address them;
Amendment 213 #
Motion for a resolution Paragraph 16 b (new) 16 b. Notes that the role of ESM supporting liquidity during resolution processes could be further expanded;
Amendment 214 #
Motion for a resolution Paragraph 17 Amendment 215 #
Motion for a resolution Paragraph 17 17. Welcomes the ‘SRM Vision 2028’ strategic review initiated by the SRB to set its long-term goals, address new challenges and further strengthen collaboration with the national resolution authorities and other stakeholders; welcomes, in particular, SRB’s intention to identify areas where sustainability can be embedded further in its daily operations and core business, including the SRF investment strategy;
Amendment 216 #
Motion for a resolution Paragraph 17 17. Welcomes the ‘SRM Vision 2028’ strategic review initiated by the SRB to set its long-term goals, address new challenges and further strengthen collaboration with the national resolution authorities and other stakeholders; highlights the need to ensure efficiency and cost-effectiveness in the implementation of the new strategy;
Amendment 217 #
Motion for a resolution Paragraph 19 19. Welcomes the fact that the Single Resolution Fund has now been built up;
Amendment 218 #
Motion for a resolution Paragraph 19 19.
Amendment 219 #
Motion for a resolution Paragraph 19 Amendment 22 #
Motion for a resolution Recital B b (new) Bb. whereas the BU aims to ensure that: (i) banks are robust and able to withstand any future financial crises; (ii) non-viable banks are resolved without recourse to taxpayers' money and with minimal impact on the real economy; (iii) market fragmentation is reduced by harmonised financial sector rules;
Amendment 220 #
Motion for a resolution Paragraph 19 19. Welcomes the fact that the Single Resolution Fund has now been built up; calls for the full ratification of the Amending Agreement to the ESM Treaty by all Member States, including the establishment of a common backstop to the Single Resolution Fund; underlines that a scheme solely relying on the Single Resolution Fund, even if it could draw on the European Stability Mechanism, would not be credible, both for the conditionality in the access and for the limited firepower compared to resources that were available in the past in case of banking crisis;
Amendment 221 #
Motion for a resolution Paragraph 20 Amendment 222 #
Motion for a resolution Paragraph 20 20. Highlights the need for additional efforts to ensure full resolvability for all banks falling under the scope of resolution; recalls that achieving resolvability cannot be considered a ‘moving target’ and therefore calls for
Amendment 223 #
Motion for a resolution Paragraph 20 20. Highlights the need for additional efforts to ensure full resolvability for all banks
Amendment 224 #
Motion for a resolution Paragraph 20 20. Highlights the need for additional efforts to ensure full resolvability for all banks falling under the scope of resolution;
Amendment 225 #
Motion for a resolution Paragraph 20 20. Highlights the need for additional efforts to ensure full resolvability for all banks falling under the scope of resolution; recalls that achieving resolvability cannot be considered a ‘moving target’ and therefore calls for more standardisation and harmonisation of the resolvability assessment; nonetheless, recalls the important role played by national resolution authorities in the assessment of resolvability;
Amendment 226 #
Motion for a resolution Paragraph 20 a (new) 20 a. Draws attention to the issue of small banks, whose role in the local banking ecosystem can be regarded as fulfilling the public interest criterion; stresses that such banks stand no chance of meeting the MREL requirements; considers it appropriate for such banks to contribute to national deposit insurance schemes in order to permit an orderly winding-up;
Amendment 227 #
Motion for a resolution Paragraph 20 a (new) 20 a. Is deeply concerned that the Banking Union still lacks its third pillar, namely a robust European deposit insurance scheme that would ensure the protection of depositors across the entire Banking Union and significantly reduce the negative link between banks and their home sovereign;
Amendment 228 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015
Amendment 229 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme (EDIS) was published back in 2015
Amendment 23 #
Motion for a resolution Recital B c (new) Bc. whereas banks are a cornerstone of our economy and one of our most important strategic sectors; whereas it is vital to ensure that they operate in an environment that fosters stability, resilience, dynamism and competitiveness; whereas those principles are essential not just for sustainable economic growth, but also to ensure that the financial system can adapt to global challenges, facilitate innovation and respond effectively to the needs of businesses and citizens; whereas a vibrant economy requires a banking sector that is both robust and flexible, and that fosters investment and channels capital efficiently, thereby increasing our capacity to compete in an ever-changing global market;
Amendment 230 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015
Amendment 231 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015,
Amendment 232 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015, and that the landscape has changed significantly since then; stresses that any European mechanism must bolster financial stability, boost depositor confidence and preserve incentives for prudent risk management by banks;
Amendment 233 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015, and that the landscape has changed significantly since then; welcomes the fact that its Committee on Economic and Monetary Affairs adopted its position in favour of a creation of a European deposit insurance scheme in April 2024; calls on the European Parliament to adopt its mandate to enter into interinstitutional negotiations; urges the Council to agree on its position on EDIS without any further delay;
Amendment 234 #
Motion for a resolution Paragraph 21 21. Underlines the fact that the Commission’s proposal to establish a European deposit insurance scheme was published back in 2015, and that the landscape has changed significantly since then, although this does not diminish the advantages of adopting the scheme;
Amendment 235 #
Motion for a resolution Paragraph 21 a (new) 21a. Considers that the change in the circumstances that prompted the original proposal for a European deposit insurance scheme (EDIS) does not entail a reason for removing the scheme or curtailing its goals; considers that, on the contrary, the period of relative financial stability should be used to adopt the EDIS; regrets the fact that the process has come to a halt; calls for the swift adoption of the EDIS;
Amendment 236 #
Motion for a resolution Paragraph 21 a (new) 21 a. Welcomes the ECON Committee’s position on a European deposit insurance scheme (EDIS) adopted in April 2024; urges both co-legislators to seize this opportunity to make progress on establishing an EDIS; underlines that the ultimate goal remains to have a fully- fledged EDIS that provides loss-coverage;
Amendment 237 #
Motion for a resolution Paragraph 21 a (new) 21 a. Stresses that establishing EDIS should be done with no conditionalities to limit bank exposures to sovereign debt, especially concerning countries with high public debt ratios;
Amendment 238 #
Motion for a resolution Paragraph 21 a (new) 21 a. Highlights that further progress on risk reduction is a necessary precondition for any type of risk-sharing in the Banking Union;
Amendment 239 #
Motion for a resolution Paragraph 22 Amendment 24 #
Motion for a resolution Recital C C.
Amendment 240 #
Motion for a resolution Paragraph 22 22. Notes that national deposit guarantee schemes have been introduced successfully and have proved their functionality in a number of cases;
Amendment 241 #
Motion for a resolution Paragraph 22 22. Notes that national deposit guarantee schemes have been introduced successfully and have proved their functionality in a number of cases;
Amendment 242 #
Motion for a resolution Paragraph 22 22. Notes that national deposit guarantee schemes have been introduced successfully and have proved their functionality in a number of cases;
Amendment 243 #
Motion for a resolution Paragraph 22 22. Notes that national deposit guarantee schemes have been introduced successfully and have proved their functionality in a number of cases; underlines the need to take s
Amendment 244 #
Motion for a resolution Paragraph 22 22. Notes that national deposit guarantee schemes have been introduced successfully and have proved their functionality in a number of cases; underlines the need to take specific national characteristics into account and to preserve the well-functioning systems for smaller banks that are already in place in some Member States, thus upholding the principle of subsidiarity with regard to the Member States;
Amendment 245 #
Motion for a resolution Paragraph 22 a (new) 22 a. Recognises that a European deposit insurance scheme (EDIS) could improve protection for depositors in the EU; considers, however, that the main obstacle to the introduction of EDIS is risk concerns in some banking systems; stresses that mitigation of this risk is key to reaching an agreement on EDIS;
Amendment 246 #
Motion for a resolution Paragraph 22 a (new) 22 a. Highlights that the European Deposit Insurance Scheme is the final missing pillar of the Banking Union and that disparate levels of depositor protection hinder the competitiveness of the sector;
Amendment 247 #
Motion for a resolution Paragraph 23 Amendment 248 #
Motion for a resolution Paragraph 23 Amendment 249 #
Motion for a resolution Paragraph 23 Amendment 25 #
Motion for a resolution Recital C C. whereas
Amendment 250 #
Motion for a resolution Paragraph 23 23.
Amendment 251 #
Motion for a resolution Paragraph 23 23.
Amendment 252 #
Motion for a resolution Paragraph 23 23. Underlines the necessity to take the specifics of institutional protection schemes into account and preserve their functioning by removing these institutions from the scope of EDIS;
Amendment 253 #
Motion for a resolution Paragraph 23 23. Underlines the necessity to take the specifics of institutional protection schemes into account and preserve their functioning while ensuring a level playing field across the Banking Union;
Amendment 254 #
Motion for a resolution Paragraph 23 a (new) 23 a. Recalls that the European Parliament proposes the introduction of a liquidity only scheme in the first instance, building on the existing framework of national deposit guarantee schemes, and tasks the Commission with assessing the appropriateness of moving to a fully- fledged EDIS over time;
Amendment 255 #
Motion for a resolution Paragraph 24 Amendment 256 #
Motion for a resolution Paragraph 24 24.
Amendment 257 #
Motion for a resolution Paragraph 24 24. Takes note of the Eurogroup statement of 16 June 2022 on the future of the BU; laments no further developments at Eurogroup level to push the completion of the BU, most notably the third pillar;
Amendment 258 #
Motion for a resolution Paragraph 25 Amendment 259 #
Motion for a resolution Paragraph 25 25. Recalls that
Amendment 26 #
Motion for a resolution Recital C C. whereas
Amendment 260 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU;
Amendment 261 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU;
Amendment 262 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU;
Amendment 263 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU;
Amendment 264 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU; emphasises th
Amendment 265 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a
Amendment 266 #
Motion for a resolution Paragraph 25 25.
Amendment 267 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU; emphasises that the risk on banks’ balance sheets can be reduced further through the regulatory treatment of sovereign exposures; stresses that further decoupling of bank and sovereign risk will help to bolster financial stability, protect taxpayers and move towards a more integrated and competitive European financial market;
Amendment 268 #
Motion for a resolution Paragraph 25 25. Recalls that breaking the link between bank and sovereign risk remains a challenge for the BU; emphasises that the risk on banks’ balance sheets can be reduced further through the regulatory treatment of sovereign exposures; stresses that capital requirements must reflect the actual risk borne by banks in the market;
Amendment 269 #
Motion for a resolution Paragraph 25 a (new) 25a. Welcomes the progress made by the ECB on the digital euro and its dialogue with Parliament; while acknowledging benefits such as payment autonomy and financial inclusion, expresses concern over offline functionality owing to high costs, prolonged development times and minimal benefits for users; given that offline transactions reduce visibility and make preventing financial crime more complicated, dual offline capabilities should be limited to temporary back-up measures for preventing abuses;
Amendment 27 #
Motion for a resolution Recital D D. whereas a strong and competitive banking sector is key to delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and ensuring the digital transition
Amendment 270 #
Motion for a resolution Paragraph 25 a (new) 25a. Emphasises that there is a total of EUR 2 900 billion in sovereign debt on the balance sheets of European banks and that almost 50 % was issued by just 3 Member States; recalls that 67 % of all sovereign debt was purchased by banks from just 3 Member States; points out that changes in the spreads of these states therefore have disproportionate effects on the health of these banks; calls on the ECB and the SSM to devise concrete measures to solve this concentration- related problem;
Amendment 271 #
Motion for a resolution Paragraph 25 a (new) 25 a. Welcomes the ECB’s progress on the digital euro and its Parliamentary dialogue; while recognising benefits like payment autonomy and financial inclusion, expresses reservations about offline functionality due to high costs, long development times, and limited user benefits; given that offline transactions reduce visibility and impair financial crime prevention, underlines that dual offline capabilities should only serve as temporary backup measures to prevent misuse;
Amendment 272 #
Motion for a resolution Paragraph 25 a (new) 25 a. Stresses that the completion of the Banking Union requires the establishment of all three planned pillars: supervision, resolution, and deposit insurance; warns that the absence of any of the three pillars undermines the coherence and functionality of the system, potentially requiring a fundamental reassessment starting with the resolution mechanism;
Amendment 273 #
Motion for a resolution Paragraph 25 a (new) 25 a. Points out that rising public debt levels following the pandemic make an appropriate treatment of sovereign exposures more pressing;
Amendment 274 #
Motion for a resolution Paragraph 25 b (new) 25b. Stresses that the digital euro is intended to complement, not replace, cash and private payment methods, safeguarding investment in the industry and preventing the dominance of non- European suppliers;
Amendment 275 #
Motion for a resolution Paragraph 25 b (new) 25 b. Recalls that the digital euro should complement, not replace, cash and private payment solutions, protecting sector investments and preventing non- European providers' dominance;
Amendment 276 #
Motion for a resolution Paragraph 25 c (new) 25c. Highlights the need for fair compensation for financial institutions' implementing costs; the system should balance privacy with practicality and include holding and transaction limits;
Amendment 277 #
Motion for a resolution Paragraph 25 c (new) 25 c. Underlines that financial institutions deserve fair compensation for implementation costs, and that the system should balance privacy with practicality while incorporating holding limits and transaction caps to maintain financial stability;
Amendment 278 #
Motion for a resolution Paragraph 25 d (new) 25d. Stresses the importance of the prevention of competitive imbalances in payment services in the EU, like the cap on inter-regional exchange fees suggested by the United Kingdom, which could entail higher costs or disruptions in service for European consumers;
Amendment 279 #
Motion for a resolution Paragraph 25 d (new) 25 d. Highlights the importance to avoid competitive distortions in EU payment services, such as the UK's proposed inter- regional interchange fee cap, which could result in increased costs or service disruptions for European consumers;
Amendment 28 #
Motion for a resolution Recital D D. whereas a strong banking sector is key to delivering economic growth, increasing the possibility of homeownership, fostering investment and job creation, financing small and medium- sized enterprises (SMEs) and start-ups and ensuring the transition to a green and digital economy;
Amendment 29 #
Motion for a resolution Recital D D. whereas a strong and diversified banking sector is key to delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and ensuring the transition to a green and digital economy;
Amendment 3 #
Motion for a resolution Citation 19 a (new) – having regard to the standards of the Basel Committee on Banking Supervision on the prudential treatment of cryptoasset exposures, of 16 December 2022,
Amendment 30 #
Motion for a resolution Recital D a (new) Da. whereas concluding the reform of the EU frameworks for bank crisis management and deposit insurance (EDIS), focusing particularly on small and medium-sized banks, is fundamental in order to provide Europe's banking sector with security, stability and resilience and a complete banking union with a true European deposit insurance scheme (EDIS) is a basic condition for ensuring that citizens trust European banks;
Amendment 31 #
Motion for a resolution Recital D a (new) Da. whereas the BU should help to address the bank-sovereign nexus or 'doom loop' that exists in the European Union;
Amendment 32 #
Motion for a resolution Recital D b (new) Db. whereas, according to the European Central Bank, around 80 % of external financing for EU companies comes from banks, while just 20 % comes from the capital markets;
Amendment 33 #
Motion for a resolution Recital D c (new) Dc. whereas the EIB noted in 2022 that between 75 % and 85 % of EU SMEs use bank loans as their primary source of funding; whereas just 3–5 % of SMEs access financing from bonds or capital in the financial markets;
Amendment 34 #
Motion for a resolution Recital D d (new) Dd. whereas just 30 % of credit for US firms comes from banks, while 70 % is funded via capital markets, including corporate bond holdings and shares;
Amendment 35 #
Motion for a resolution Recital E E. whereas in April 2024, despite various concerns, it adopted its position on the review of the crisis management and deposit insurance framework;
Amendment 36 #
Motion for a resolution Recital E E. whereas in April 2024, it adopted its position on the review of the crisis management and deposit insurance framework; whereas the CMDI should not be considered as a replacement for an EDIS;
Amendment 37 #
Motion for a resolution Recital F Amendment 38 #
Motion for a resolution Recital F F. whereas in April 2024, its Committee on Economic and Monetary Affairs adopted a report on the Commission’s proposal to establish a European deposit insurance scheme with excessive haste, without allowing enough room for the intensive discussion required;
Amendment 39 #
Motion for a resolution Recital F a (new) F a. whereas consumers of banking services should be better protected by granting them access to transparent fee structures, fair lending practices, and enhanced customer data protection;
Amendment 4 #
Motion for a resolution Citation 19 a (new) – having regard to the Financial Stability Board's Principles on Loss- absorbing and Recapitalisation Capacity of G-SIBs in Resolution of 9 November 2015,
Amendment 40 #
Motion for a resolution Recital F a (new) F a. whereas deposit insured by national deposit guarantee schemes account for 37% of total deposits1a; _________________ 1a https://www.europarl.europa.eu/RegData/ etudes/BRIE/2024/764175/IPOL_BRI(20 24)764175_EN.pdf
Amendment 41 #
Motion for a resolution Recital F b (new) F b. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;
Amendment 42 #
Motion for a resolution Recital F c (new) F c. whereas financial institutions rely increasingly on the use of information and communications technology (ICT); whereas the EU banking sector must increase its cyber resilience to ensure that ICT systems can withstand various types of cyber security threats;
Amendment 43 #
Motion for a resolution Recital F d (new) F d. whereas the digitalisation of finance provides important opportunities for the banking sector and has brought about important technological advances in the EU banking sector through increased efficiency in the provision of banking services and a greater appetite for innovation; whereas it also poses challenges, including with regard to data protection, reputational risks, anti-money laundering (AML), and consumer protection concerns;
Amendment 44 #
Motion for a resolution Recital F e (new) F e. whereas interest rate hikes have had a negative impact on the borrowing capacity of households and the capacity of borrowers to repay debt and make EU banks vulnerable to potential losses in the future; whereas risks stemming from interest rate hikes have been so far properly addressed;
Amendment 45 #
Motion for a resolution Recital F f (new) F f. whereas EU banks have withstood the impact of Russian aggression; whereas they play a pivotal role in ensuring the ongoing implementation of and compliance with the sanctions imposed by the EU against Russia in response to the invasion; whereas further coordination is needed to avoid circumvention of sanctions;
Amendment 46 #
Motion for a resolution Recital F g (new) F g. whereas climate change, environmental degradation and the transition to a low-carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors;
Amendment 47 #
Motion for a resolution Recital F h (new) F h. whereas the EU and the UK have signed a Memorandum of Understanding on Financial Services Regulatory Cooperation, and this cooperative approach should underpin long-term EU- UK relations particularly in the area of banking; whereas the Commission has again extended its temporary permit allowing EU banks and fund managers to use UK clearing houses;
Amendment 48 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of
Amendment 49 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of
Amendment 5 #
Motion for a resolution Citation 19 b (new) – having regard to the Financial Stability Board's report of 10 October 2023 entitled '2023 Bank Failures: Preliminary lessons learnt for resolution',
Amendment 50 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that
Amendment 51 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of BU remains a key priority; highlights that this project offers households and SMEs access to broader funding, increases financial stability, reduces the impact of economic downturns
Amendment 52 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of BU remains a key priority
Amendment 53 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of BU remains a key priority; highlights that this project offers households and SMEs access to broader funding, increases financial stability, reduces the impact of economic downturns, funds
Amendment 54 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of BU remains a key priority; highlights that this project offers households and SMEs access to broader funding, increases financial stability, reduces the impact of economic downturns, gives additional investment opportunities, funds the transition to a green and digital economy and unlocks the EU’s growth potential;
Amendment 55 #
Motion for a resolution Paragraph 1 1. Asks the Commission to ensure that the completion of BU remains a key priority; highlights that this project offers households and SMEs access to broader funding, increases financial stability, reduces the impact of economic downturns, funds the transition to a green and digital economy and unlocks the EU’s growth potential; points out that the Commission needs to take into consideration the specificities of the national banking sectors where they have proven their value;
Amendment 56 #
Motion for a resolution Paragraph 1 a (new) 1 a. Notes the necessity to be prepared for episodes of banking stress that could potentially lead to bankruns as those witnessed in March 2023 in some jurisdictions outside the EU and the need to ensure the stability of deposits;
Amendment 57 #
Motion for a resolution Paragraph 1 a (new) 1 a. Calls on the Commission to create a database at EU level to foster access to information and coordination among sanctions enforcement authorities in Members States and help close gaps in targeted sanctions implementation; highlights AMLA’s role in supporting sanctions implementation and in detecting risks of sanctions evasion;
Amendment 58 #
Motion for a resolution Paragraph 1 a (new) 1a. Stresses that cyber resilience is essential for European banks to remain competitive, especially in the context of geopolitical tensions and the rise in the number of cyber attacks on critical infrastructure in the EU;
Amendment 59 #
Motion for a resolution Paragraph 2 2. Notes that a more integrated BU would help to make the EU banking sector more resilient; notes
Amendment 6 #
Motion for a resolution Citation 24 a (new) – having regard to the ECB Occasional Paper Series 'The Road to Paris: stress testing the transition towards a net-zero economy',
Amendment 60 #
Motion for a resolution Paragraph 2 2. Notes that a more integrated BU would help to make the EU banking sector more resilient;
Amendment 61 #
Motion for a resolution Paragraph 2 2. Notes that a
Amendment 62 #
Motion for a resolution Paragraph 2 2. Notes that a more integrated BU would help to make the EU banking sector more resilient; notes that better cross- border integration of banking business would increase the potential for private risk sharing and ensure diversification in the EU banking market; points out that a more integrated BU is not necessarily the same as a more consolidated banking market and that there are benefits for competition in a diversified banking market;
Amendment 63 #
Motion for a resolution Paragraph 2 2. Notes that a more integrated BU would help to make the EU banking sector more resilient; notes that better cross- border integration of banking business would increase the potential for private risk sharing and ensure diversification in the EU banking market; stresses that a fully developed BU would allow EU banks to grow and put them in a better position to compete in the international arena;
Amendment 64 #
Motion for a resolution Paragraph 2 2. Notes that a more integrated BU would help to make the EU banking sector more resilient; notes that better cross- border integration of banking business would increase the potential for private risk sharing and ensure diversification in the EU banking market, and should be open to other partner countries like Switzerland, the UK or the USA;
Amendment 65 #
Motion for a resolution Paragraph 2 b (new) 2 b. Notes that the Union resolution framework is not a substitute for structural reforms in the banking sector, with the systemic risks to financial stability associated with institutions that are ‘too big to fail’ remaining; highlights, therefore, the importance of structural measures, such as the separation of investment banking from commercial banking and implementing stronger regulatory capital requirements;
Amendment 66 #
Motion for a resolution Paragraph 2 a (new) 2 a. Understands that it ensures equal access for all European citizens, irrespective of their country of residence within the European Union;
Amendment 67 #
Motion for a resolution Paragraph 2 a (new) 2a. Deplores the fact that banks' exposure to domestic sovereign debt has shot up by EUR 200 billion according to the latest IMF report in October, exceeding USD 100 trillion and accounting for 93% of combined gross domestic product at market prices; notes that, according to the same forecasts, public debt will be higher than global GDP by 2030; points out that this increase in debt has taken place against a backdrop of the loosening of fiscal rules in some geographical areas; recalls that one of the main objectives of the banking union is to break the link between bank and sovereign risks;
Amendment 68 #
Motion for a resolution Paragraph 2 a (new) 2 a. Highlights that different banking models, both regionally focused banks and cross-border institutions should coexist within the Banking Union, providing tailored services for both households, SMEs and big corporates;
Amendment 69 #
Motion for a resolution Paragraph 2 a (new) 2 a. Highlights that the development of common European safe assets would enhance stability in the banking sector;
Amendment 7 #
Motion for a resolution Citation 29 a (new) – having regard to the Eurogroup statement of 16 June 2022 on the future of the Banking Union,
Amendment 70 #
Motion for a resolution Paragraph 3 Amendment 71 #
Motion for a resolution Paragraph 3 Amendment 72 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by
Amendment 73 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs
Amendment 74 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs,
Amendment 75 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs, smaller scale and lower profitability that is not sufficient to ensure their competitiveness; calls on the Commission to assess the effects of national tax levies on credit institutions on the competitiveness of the EU banking sector and the prospects for the completion of the BU;
Amendment 76 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs, smaller scale and lower profitability that is not sufficient to ensure their competitiveness; notes, however, that the specific character of the EU banking system, with its large number of smaller banks, calls for solutions that take this into account and are tailored to its characteristics;
Amendment 77 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs, smaller scale and lower profitability that is not sufficient to ensure their competitiveness; calls on the Commission to cut red tape for the banking sector so that it is not hampering its competitiveness;
Amendment 78 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs, smaller scale and lower profitability that is not sufficient to ensure their competitiveness; notes that the profitability gap compared to other jurisdictions is due to both structural and regulatory reasons;
Amendment 79 #
Motion for a resolution Paragraph 3 3. Regrets that EU banks’ ability to finance major investments is constrained by higher costs, smaller scale and lower profitability that is not sufficient to ensure their competitiveness but also remains mindful of the ‘too big to fail’ risk;
Amendment 8 #
Motion for a resolution Citation 30 a (new) – having regard to the Risk assessment report of the European Banking Authority1a, _________________ 1a RISK ASSESSMENT REPORT OF THE EUROPEAN BANKING AUTHORITY (EBA/REP/2024/12). JULY 2024.
Amendment 80 #
Motion for a resolution Paragraph 3 a (new) 3 a. Calls on the Commission to develop targeted frameworks within the Banking Union to enhance access to finance for SMEs and start-ups, recognising their role as the backbone of the EU economy; emphasises the need to ensure that these frameworks allow for efficient capital allocation while maintaining robust risk management practices, thereby contributing to economic growth and the EU's strategic autonomy;
Amendment 81 #
Motion for a resolution Paragraph 3 a (new) 3a. Expresses its concern that, while financial institutions are committed to increasing investments in infrastructure to promote payment and digital services and the exchange of financial data, other, unregulated entities are able to operate without being bound by the same obligations on protecting investors, transparency and preventing fraud;
Amendment 82 #
Motion for a resolution Paragraph 3 a (new) 3 a. Is concerned that, while financial institutions are committed to increase investments in infrastructures aimed at enhancing payment and other digital services as well as exchange of financial data, other not regulated players are allowed to operate without the same obligations in the field of investor protection, transparency and fraud prevention;
Amendment 83 #
Motion for a resolution Paragraph 3 a (new) 3a. Regrets that EU banks' cross- border activity is still rather limited, particularly with regard to granting loans; takes the view, therefore, that it is important to complete the BU in order to uphold the free movement of capital in a fully integrated internal market;
Amendment 84 #
Motion for a resolution Paragraph 3 a (new) 3a. Notes that the Banking Union would improve access to credit while, at the same time, reducing the costs of the banking system, to the benefit of the institutions themselves and users;
Amendment 85 #
Motion for a resolution Paragraph 4 4.
Amendment 86 #
Motion for a resolution Paragraph 4 4. Acknowledges that EU banks still operating in Russia have downsized their activity; calls on supervisory institutions to
Amendment 87 #
Motion for a resolution Paragraph 4 4. Acknowledges that EU banks still operating in Russia have downsized their activity; calls on supervisory institutions to further assist those banks in pushing ahead with exiting the Russian market swiftly;
Amendment 88 #
Motion for a resolution Paragraph 5 Amendment 89 #
Motion for a resolution Paragraph 5 Amendment 9 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) encompasses the Single Supervisory Mechanism, the Single Resolution Mechanism and
Amendment 90 #
Motion for a resolution Paragraph 5 5. Notes that the creation of a separate jurisdiction for EU banks with
Amendment 91 #
Motion for a resolution Paragraph 5 5. Notes that the creation of a separate jurisdiction for EU banks with substantial cross-border operations13
Amendment 92 #
Motion for a resolution Paragraph 5 5.
Amendment 93 #
Motion for a resolution Paragraph 5 5. Notes that the creation of a separate jurisdiction for EU banks with substantial cross-border operations
Amendment 94 #
Motion for a resolution Paragraph 5 5.
Amendment 95 #
Motion for a resolution Paragraph 5 5. Notes that the creation of a separate jurisdiction for EU banks with substantial cross-border operations13 would help to complete the BU;
Amendment 96 #
Motion for a resolution Paragraph 5 a (new) 5a. Considers it essential to ensure high levels of public trust in the banking sector and maintains that the relationship should be built on: banks' provision of competitive, modern and transparent banking services; the provision of efficient supervisory, resolution and deposit protection schemes by Member States and EU authorities; and a commitment by all actors in the EU banking sector to improve Europeans' financial literacy in order to support saving and investment by families and businesses;
Amendment 97 #
Motion for a resolution Paragraph 5 a (new) 5a. Emphasises that banking culture varies widely between Member States; welcomes this diversity; points out that the ECB has repeated several times that bank size is not the main reason why US banks are stronger than European ones; points to scientific evidence that marginal benefits for large bank mergers are considerably smaller than for smaller mergers1 a; _________________ 1 a Kristen Regehr and Rajdeep Sengupta, "Has the Relationship between Bank Size and Profitability Changed?", Economic Review, Second Quarter 2016, Federal Reserve Bank of Kansas City, 49-72.
Amendment 98 #
Motion for a resolution Paragraph 5 a (new) 5 a. Notes that with the conclusion of asset purchase program (APP) and the approaching end of the pandemic emergency purchase program (PEPP), there is an increasing need of funding tools; in this light, a review of the securitisation framework to strengthen European markets and the introduction of the European Secured Notes as a dual- recourse funding instrument for SMEs for long-term financing are crucial;
Amendment 99 #
Motion for a resolution Paragraph 5 a (new) 5 a. Highlights that euro area banks' exposure to domestic sovereign debt remains high, and draws attention to the risks involved; recalls that one of the main objectives of the Banking Union is to break the state-bank doom loop and the link between bank risk and sovereign risk; recalls that the risk of overexposure to sovereign debt has increased as a result of rising interest rates;
source: 766.874
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History
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2024-12-18Show (5) Changes | Timetravel
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