Elisa FERREIRA
Constituencies
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Portugal
Partido Socialista
2009/07/14 - 9999/12/31
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Portugal
Partido Socialista
2004/07/20 - 2009/07/13
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Portugal
Partido Socialista
2004/07/20 - 2009/07/13
Groups
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S&D
Member
Group of the Progressive Alliance of Socialists and Democrats in the European Parliament
2009/07/14 - 9999/12/31
Show earlier groups...
Committees
| Role | Committee | Start | End |
|---|---|---|---|
| Member of | Committee on Economic and Monetary Affairs | 2012/01/19 | 9999/12/31 |
| Substitute of | Committee on Transport and Tourism | 2012/01/19 | 9999/12/31 |
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Delegations
| Role | Delegation | Start | End |
|---|---|---|---|
| Member of | Delegation to the ACP-EU Joint Parliamentary Assembly | 2009/09/16 | 9999/12/31 |
| Substitute of | Delegation for relations with India | 2009/09/16 | 9999/12/31 |
| Substitute of | Delegation to the Parliamentary Assembly of the Union for the Mediterranean | 2009/09/16 | 9999/12/31 |
Show earlier delegations...
| Role | Delegation | Start | End |
|---|---|---|---|
| Member of | Delegation to the ACP-EU Joint Parliamentary Assembly | 2004/09/15 | 2009/07/13 |
| Substitute of | Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) | 2007/03/14 | 2009/07/13 |
| Substitute of | Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) | 2004/09/15 | 2007/03/13 |
| Member of | Delegation to the ACP-EU Joint Parliamentary Assembly | 2004/09/15 | 2009/07/13 |
| Substitute of | Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) | 2004/09/15 | 2007/03/13 |
| Substitute of | Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) | 2007/03/14 | 2009/07/13 |
Contact
Online
- [javascript protected email address]
Brussels
- Phone
- +322 28 45164
- Fax
- +322 28 49164
- Office
- Bât. Altiero Spinelli 14G269
- Full Address
-
- City
- Bruxelles/Brussel
- Zip
- B-1047
- Street
- 60, rue Wiertz / Wiertzstraat 60
Strasbourg
- Phone
- +333 88 1 75164
- Fax
- +333 88 1 79164
- Office
- Bât. Louise Weiss T06143
- Full Address
-
- City
- Strasbourg
- Zip
- CS 91024 - F-67070
- Street
- 1, avenue du Président Robert Schuman
Postal
- Parlamento Europeu
- Rue Wiertz
- Altiero Spinelli 14G269
- B-1047 Bruxelas
Rapporteur
| Responsible | 2012/2256(INI) | European Semester for economic policy coordination: Annual Growth Survey 2013 |
| Shadow | 2012/0150(COD) | Credit institutions and investment firms: framework for recovery and resolution |
| Responsible | 2011/0386(COD) | Economic governance: common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit in the euro area. 'Two pack' |
| Shadow | 2011/0385(COD) | Economic governance: strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area. 'Two pack' |
| Responsible | 2010/2006(INI) | Cross-border crisis management in the banking sector |
| Responsible | 2010/0281(COD) | Economic governance: prevention and correction of macroeconomic imbalances. 'Six pack' |
| Responsible | 2008/2334(INI) | Report on a European Economic Recovery Plan |
| Opinion | 2008/0013(COD) | Air pollution, greenhouse gas emission: allowance trading system of the Community (amend. Directive 2003/87/EC) |
| Responsible | 2007/2078(INI) | Competition policy 2005 |
| Opinion | 2006/2205(INI) | The future of the European Union's own resources |
| Responsible | 2006/0020(COD) | Structural business statistics (repeal. Regulation (EC) No 58/97) |
Born
1955/10/17 Porto- Graduate in economics (University of Oporto, 1977); M.A. and Ph.D. (University of Reading, UK, 1981 and 1985 respectively).
- Lecturer, Faculty of Economics, University of Oporto (since 1977). Non-permanent member of the Catholic University (since 1986).
- Assistant director, Northern Region Water Resources Management Project (1986-1987). Coordinator, Preparatory Studies for the Integrated Development Operation for the Vale do Ave (1989). Chairman, Executive Committee of the Integrated Development Operation, Vale do Ave (1990-1992). Vice-Chairman, Northern Region Coordination Commission (1989-1992). Executive Vice-President, Portuguese Enterprise Association (1992-1994).
- Minister for the Environment (1995-1999); Minister for Planning (1999-2002).
- Member of the Assembly of the Republic (2002-2004); Vice-Chair of the parliamentary party of the PS (2002-2003).
- Member of the Administrative Board, National Statistical Institute (1989-1992). Author of various articles and essays published in Portugal and abroad.
Amendments
| Amendments | Dossier |
| 5 |
2009/2173(INI) Report on Competition Policy 2008
2009/09/12
ECON
5 amendments...
Amendment 45 #
Motion for a resolution Paragraph 10 10. Believes that the system of competition rules have weathered the storm so far, but that the crisis has brought home the urgency for an EU framework for cross- border crisis management in the financial sector, including a solution for the ‘too- big-to-fail’ institutions
Amendment 52 #
Motion for a resolution Paragraph 12 12. Invites the Commission to explain what criteria will be used to decide on a possible extension of the Temporary Community framework for State aid measures, as the EU is
Amendment 63 #
Motion for a resolution Paragraph 14 a (new) 14a. Calls for a similar report on the evolution of social and territorial cohesion in the EU in the aftermath of the economic crisis;
Amendment 70 #
Motion for a resolution Paragraph 16 a (new) 16a. Asks the Commission for a thorough investigation on the generalised large scale use, by some European firms, of low-cost highly skilled temporary labour contracts and internships, as an abusive economic strategy that is detrimental to the principles of decent work and a source of competition distortion;
Amendment 80 #
Motion for a resolution Paragraph 19 19. Welcomes the very firm stance the Commission has taken on anti-competitive behaviour in recent years, which causes great harm to consumers and to the economy; is concerned, however, that the instrument of ever higher fines may be too blunt and suggests that a wider range of more sophisticated instruments might be more effective as a deterrent; favours a ‘carrot-and-stick’ approach,
source: PE-430.954
|
| 2 |
2010/0276(CNS) Economic governance: implementation of the excessive deficit procedure. 'Six pack'
2011/02/15
ECON
2 amendments...
Amendment 180 #
Proposal for a regulation – amending act Article 1 – point 2 – point b Regulation (EC) No 1467/97 Article 2 – paragraph 1a 1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at a
Amendment 297 #
Proposal for a regulation – amending act Article 1 – point 12 Regulation (EC) No 1467/97 Article 12 – paragraph 3 3.
source: PE-458.575
|
| 1 |
2010/0278(COD) Economic governance: effective enforcement of budgetary surveillance in the euro area. 'Six pack'
2011/02/16
ECON
1 amendments...
Amendment 285 #
Proposal for a regulation Article 5 – paragraph 4 a (new) 4a. The total yearly amount of fines imposed on a Member State in the context of an Excessive Deficit Procedure added to those due in the context of an Excessive Imbalances Procedure, shall not exceed 0.3% of its GDP except in cases of fines imposed for reasons stated in paragraph 4a of Regulation (EU) No […/…].
source: PE-458.626
|
| 14 |
2010/0279(COD) Economic governance: enforcement measures to correct excessive macroeconomic imbalances in the euro area. 'Six pack'
2011/02/15
ECON
14 amendments...
Amendment 45 #
Proposal for a regulation Recital 1 b (new) (1b) The European semester for economic policy coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and that they coordinate them in that respect. Transparent and credible oversight are an integral part of enhanced economic governance. The Council and the Commission should make public and state the reasons for their positions and decisions at the appropriate stages of the economic policy coordination procedures.
Amendment 66 #
Proposal for a regulation Recital 1 a (new) (1a) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of reinforced commonly agreed rules and policies and on a more robust surveillance framework at the Union level of national economic policies.
Amendment 89 #
Proposal for a regulation Recital 6 (6) Enforcement of Regulation (EU) No
Amendment 103 #
Proposal for a regulation Recital 8 (8) Repeated failure to comply with Council recommendations in accordance with to Article 7(2) and Article 10(4) of Regulation (EU) No .../2011 after the Council endorsement of a restated or revised action plan with a new deadline, in accordance with Article 10(5a) of that Regulation to address excessive macroeconomic imbalances should, as a rule, be subject to a yearly fine, until the Council establishes that the Member State has taken corrective action to comply with its recommendations.
Amendment 109 #
Proposal for a regulation Recital 9 (9) Moreover, repeated failure of the Member State
Amendment 117 #
Proposal for a regulation Recital 10 (10) T
Amendment 126 #
Proposal for a regulation Recital 11 (11) The procedure for the application of the fines on the Member States which fail to take effective measures to correct macroeconomic imbalances should be construed in such a way that the application of the fine on those Member States would be
Amendment 131 #
Proposal for a regulation Recital 11 a (new) (11a) The fine should be based on failure to take corrective action within the foreseen deadlines or failure to provide or provide adequate corrective action plans; a fine should therefore not be imposed as a consequence of the mere existence of excessive macroeconomic imbalances imbalances nor as a consequence of the recommended actions undertaken not reducing, in practice, the excessive imbalances.
Amendment 161 #
Proposal for a regulation Article 1 – paragraph 2 a (new) 2a. In order to share the burden of adjustment between ‘deficit’ and ‘surplus’ countries, this regulation will be implemented across Member States in a symmetrical way.
Amendment 179 #
Proposal for a regulation Article 3 – paragraph 1 – subparagraph 1 – point 1 (1)
Amendment 184 #
Proposal for a regulation Article 3 – paragraph 1 – subparagraph 1 – point 2 (2)
Amendment 206 #
Proposal for a regulation Article 3 – paragraph 3 3. By derogation from paragraph 2, the Commission may, on grounds of exceptional economic circumstances , or following a reasoned request by the Member State concerned addressed to the Commission or in order to take into account any cumulative effect of sanctions imposed in accordance with Regulation (EU) No …/2011 on speeding up and clarifying the implementation of the excessive deficit procedure and Regulation (EU) No …/2011 on the effective enforcement of budgetary surveillance in the euro area, within ten days of adoption of the Council
Amendment 210 #
Proposal for a regulation Article 3 – paragraph 3 a (new) 3a. The total yearly amount of fines imposed on a Member State in the context of an Excessive Deficit Procedure added to those due in the context of an Excessive Imbalances Procedure, shall not exceed 0,3% of its GDP except in cases of fines imposed for reasons stated in paragraph 4a of Regulation (EU) No […/…]
Amendment 226 #
Proposal for a regulation Article 3 – paragraph 4 b (new) 4 b. In the event that a Member State manipulates financial data, falsifies statistics or provides misleading information, the Council, acting on a proposal from the Commission, may adopt a decision requiring the Member State to pay a fine. Such a fine shall be a one-off payment of 0,5% of the GDP of the Member State concerned in the preceding year. The Council may amend the Commission’s proposal in accordance with Article 293(1) TFEU.
source: PE-456.990
|
| 2 |
2010/0280(COD) Economic governance: strengthening of surveillance of budgetary positions and surveillance and coordination of economic policies. 'Six pack'
2011/02/15
ECON
2 amendments...
Amendment 195 #
Proposal for a regulation – amending act Article 1 – point -1 (new) Regulation (EC) No 1466/97 Article 1 Amendment 216 #
Proposal for a regulation – amending act Article 1 – point 1 c (new) – point a (new) Regulation (EC) No 1466/97 Article 2a – paragraph 1 source: PE-458.763
|
| 19 |
2010/0281(COD) Economic governance: prevention and correction of macroeconomic imbalances. 'Six pack'
2011/02/16
ECON
19 amendments...
Amendment 51 #
Proposal for a regulation Citation 1 Having regard to the Treaty on the Functioning of the European Union, and in particular Article 121(6) and Article 121(3), in combination with Article 148(3) and (4) thereof,
Amendment 58 #
Proposal for a regulation Recital 1 a (new) (1a) The internal market, as provided for by the TFEU, should work for the sustainable development of the Union based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social cohesion, and a high level of protection and improvement of the quality of the environment.
Amendment 60 #
Proposal for a regulation Recital 1 b (new) (1b) The European Council of 17 June 2010 adopted a new strategy for jobs and growth, the Europe 2020 strategy, to enable the Union to emerge stronger from the crisis, and to turn its economy towards smart, sustainable and inclusive growth, accompanied by high level employment, productivity and social cohesion. The European Council also decided to launch, on 1 January 2011, the European semester for policy coordination to allow Member States to benefit from early coordination at Union level and to enable enhanced surveillance and a simultaneous assessment of both budgetary measures and structural reforms, fostering growth and employment.
Amendment 98 #
Proposal for a regulation Recital 7 (7)
Amendment 119 #
Proposal for a regulation Recital 9 (9) Based on the multilateral surveillance procedure and the alert mechanism, the Commission should, by way of preliminary assessment, identify the Member States to be subject to an in-depth review. Conducting such an in-depth review should not imply a presumption of the existence of excessive macroeconomic imbalances. The in-depth review should encompass a thorough analysis of
Amendment 136 #
Proposal for a regulation Recital 11 a (new) (11a) Measures proposed to a given Member State for correcting imbalances should take into account the objectives of a Union strategy for growth and jobs and the need to use such a strategy as an instrument for sustainable internal cohesion, contributing to making the Union the most competitive economy in the world. The medium-term growth and primary balance targets of the "catching- up countries" should be taken into consideration.
Amendment 145 #
Proposal for a regulation Recital 12 (12) If macroeconomic imbalances are identified, recommendations should be addressed to the Member State concerned to provide guidance on appropriate policy responses. The policy response of the Member State concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities and involve all relevant national stakeholders. It should be tailored to the specific environment and circumstances of the Member State concerned, be compatible with medium and long-term convergence and the targets included in a Union strategy for growth and jobs, and cover the main economic policy areas, potentially including fiscal and
Amendment 156 #
Proposal for a regulation Recital 14 (14) If
Amendment 203 #
Proposal for a regulation Article 3 – paragraph 1 b (new) 1b. The Commission shall take into account, when addressing macroeconomic imbalances, the overall conditions under which they are developing, namely the asymmetric impacts caused by globalisation across the European Union, the growth of aggregate demand, the different interest rate level of sovereign and private debt financing, the credit conditions in the retail market, taxation differences across Europe, in particular corporate taxes, and the available EU instruments and conditions to support social and regional convergence.
Amendment 209 #
Proposal for a regulation Article 3 – paragraph 2 2. The scoreboard
Amendment 225 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. The work of the European Systemic Risk Board shall be taken into due consideration in the drafting of indicators relevant to financial market stability.
Amendment 235 #
Proposal for a regulation Article 3 – paragraph 3 a (new) 3a. The Commission shall adopt, by means of delegated acts in accordance with Article -12a, and subject to the conditions of Articles -12b and -12c, measures setting the list of relevant indicators to be included in the scoreboard and of the relevant thresholds. The list of indicators shall include, among others the following sets of indicators: (a) internal imbalances, including private and public debt and its evolution; internal income inequalities; unemployment rates; and asset price developments with particular attention to real estate, and financial markets; (b) external imbalances, including current account composition, balance and evolution; the evolution of export market shares in Union and third-country markets; and net foreign assets positions; (c) internal market developments, including a rolling average of five-year comparative real growth; an indicator of growth and employment dynamics including energy composition of the product and public and private research and development investment; and Union and third-country foreign direct investment flows.
Amendment 252 #
Proposal for a regulation Article 4 – paragraph 2 2. The release of the updated values of the indicators in the scoreboard shall be accompanied by a Commission report containing a
Amendment 264 #
Proposal for a regulation Article 4 – paragraph 4 4. As part of the multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall discuss and adopt conclusions on the Commission report. The competent committee of the European Parliament may organise public debates on the Commission report. The Euro Group shall discuss the report as far as it relates, directly or indirectly, to Member States whose currency is the euro. Excessive imbalance should also trigger, where appropriate, the involvement of the ESRB or/and the relevant European Supervisory Authority.
Amendment 280 #
Proposal for a regulation Article 5 – paragraph 2 – point a (a) as appropriate,
Amendment 291 #
Proposal for a regulation Article 5 – paragraph 2 a (new) 2a. In normal circumstances, the results of the in-depth review shall be presented to the European Parliament and the Council in the context of the European Semester.
Amendment 324 #
Proposal for a regulation Article 7 – paragraph 2 a (new) 2a. The recommendations referred to in paragraph 2 shall comply with the objectives of the Union as defined in Article 3 of the Treaty on European Union. The recommendations shall take due account of Article 153 TFEU, as well as of the rights incorporated in the Charter of Fundamental Rights of the European Union. The recommendations shall also strictly respect the specificity of each Member State, in particular its model of industrial relations and social dialogue. Due attention shall be paid to the symmetry of recommendations, addressing excessive savings in a similarly intense way as situations in which economies are excessively indebting themselves.
Amendment 367 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. By means of Article 121(3), an additional report by the Commission should be elaborated where an assessment is made on whether macroeconomic imbalances within the Union have narrowed or not, taking into account some EU wide aspects like European demand, markets opportunities, credit conditions, fiscal space to invest, financial support for catching-up regions, etc.
Amendment 384 #
Proposal for a regulation Article 10 – paragraph 5 a (new) 5a. Where the Council, upon a recommendation from the Commission pursuant to paragraph 4, concludes that the Member State has not taken the recommended corrective action, the Council decision shall be enforceable in accordance with Regulation (EU) No .../2011.
source: PE-458.584
|
| 1 |
2010/0821(NLE) Treaty on the Functioning of the EU (TFEU): stability mechanism for Member States whose currency is the euro (amend. Article 136 TFEU)
2011/04/02
ECON
1 amendments...
Amendment 13 #
Draft decision Recital 4 a (new) (4a) The Commission should draw up as a proposal for adoption under the ordinary legislative procedure a detailed set of rules laying down the way in which the stability mechanism will be governed and operated, and should specify which instruments are to be used within its remit.
source: PE-458.473
|
| 55 |
2010/2099(INI) Improving the economic governance and stability framework of the Union, in particular in the euro area
2010/10/09
ECON
55 amendments...
Amendment 1 #
Motion for a resolution Citation 3 having regard to Articles 121, 126, 136, 138, 148 and 352 of the Treaty on the Functioning of the European Union and the Protocols (No 12) on Excessive Deficit Procedure and (No 14) on the Euro Group, annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union,
Amendment 2 #
Motion for a resolution Citation 4 having regard to the Commission Communications of 12 May 2010 on Reinforcing economic policy coordination (COM(2010)0250), and 30 June on Enhancing economic policy coordination for stability, growth and jobs – Tools for stronger EU economic governance COM(2010) 367/2,
Amendment 21 #
Motion for a resolution Recital C a (new) C a. whereas a stronger involvement of the social partners at national and European level will contribute to a better ownership in the implementation of economic governance and the overall Europe 2020 Strategy;
Amendment 31 #
Motion for a resolution Recital D D. whereas labour, knowledge, capital and innovations have a tendency to migrate to certain regions, and EU financial solidarity mechanisms need to be further developed focusing, in particular, on research and development and education,
Amendment 43 #
Motion for a resolution Recital F F. whereas a fair balance between investments in sustainable, job-creating growth and the prevention of excessive deficits over the economic cycle, in line with Union-level commitments and guidelines, need to be persued,
Amendment 52 #
Motion for a resolution Recital G G. whereas competitiveness divergences and current-account imbalances within the euro area increased steadily during the pre- crisis years and have largely
Amendment 62 #
Motion for a resolution Recital J a (new) J a. whereas preventive macroeconomic surveillance should be based on both Article 121 and Article 148 TFEU,
Amendment 63 #
Motion for a resolution Recital J a (new) J a. whereas any eventual penalties associated with breaching of SGP targets must result from either insufficient will to comply or fraud and never from incapacity to comply due to reasons beyond the Member State´s capacity,
Amendment 76 #
Motion for a resolution Recital N a (new) N a. whereas the SGP´s targets must be compatible not only with the EU2020 strategy,but also with other compromises concerning expenditure on development aid, R&D, environment, education and poverty erradication.
Amendment 82 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – introductory part The legislative act should take the form of regulation(s) on multilateral surveillance of economic policies and developments based on Article 121(6) amending Regulation (EC) No 1466/97 on the preventive arm of the Stability and Growth Pact
Amendment 84 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 1 – Define the scope of the multilateral surveillance based on TFEU instruments and assessments by the Commission aiming at preventing excessive macro- economic imbalances, unsustainable fiscal and other policies, addressing financial stability
Amendment 85 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 1 – Define the scope of the multilateral surveillance based on TFEU instruments and assessments by the Commission (Art.121 and 121.5 and 121.6) in order to include a "Growth and Employment Pact" under the same legal framework of the existing instruments aiming at preventing excessive macro-
Amendment 89 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 2 – Establish an enhanced analytical surveillance framework (including a scoreboard with specific trigger values for early warning) with appropriate methodological tools and transparency for an effective multilateral surveillance based on key economic indicators (real and nominal), which may affect competitiveness positions, including, but not limited to, growth rate, composition of the national GDP, employment and poverty rate, real exchange rate developments, labour cost developments, current account/balance of payments developments, credit growth, capital formation and inflows, productivity developments, and asset markets (including private debt and property markets) developments,
Amendment 90 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 2 – Establish an enhanced analytical surveillance framework (including a scoreboard with specific trigger values for early warning) with appropriate methodological tools and transparency for an effective multilateral surveillance based on key economic indicators (real and nominal), which may affect competitiveness positions, including, but not limited to, growth
Amendment 95 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 3 a (new) – The Commission shall develop the adequate analytical tools and expertise to investigate the deep reasons behind the persistent divergent trends within the Euro-Area, including the impact of common policies on the differentiated economic systems within it.
Amendment 99 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 4 – Establish common rules for a more active use of the Broad Economic Policy Guidelines in coordination with the Employment guidelines as a key tool for economic guidance, surveillance and Member State-
Amendment 103 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 4 – Establish common rules for a more
Amendment 107 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 6 – Establish a "
Amendment 109 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 6 – Establish a "Union semester" for a first comparison and assessment of draft budgets of Member States (main elements and assumptions) in order to better evaluate the implementation and future execution of the Stability and Convergence Programmes (SCPs) and the National Reform Programmes (NRPs), taking due account of the national annual budget procedures and multi-annual budgetary frameworks; the broad economic policy guidelines as well as the employment guidelines established jointly with Parliament should be used as a framework for discussion and evaluation of the eurozone Member States' budgets – before their presentation to the respective national parliaments,
Amendment 111 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 7 –
Amendment 113 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 7 a (new) – Provide room, in the context of the European semester for an enlarged debate on financial issues and on the economic situation of the EU including consultation with the Union- level social partners, strengthening the macroeconomic social dialogue,
Amendment 115 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 8 –
Amendment 117 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 10 Amendment 118 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 11 – Introduce a stronger assessment of the
Amendment 119 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 12 – Introduce a strong involvement of national parliaments before formal presentation of the SCPs and NRPs at Union level in an agreed time-frame, for instance through an annual debate to take place among national parliaments, with the participation of the European Parliament, on the integrated guidelines and on budgetary orientations of one another;
Amendment 120 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 12 – Introduce a strong involvement of the national parliaments and social partners before formal presentation of the SCPs and NRPs at Union level in an agreed time- frame,
Amendment 122 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 13 – Establish a more systematic comparison between the planned fiscal, growth and job stances as given by the Member States in their SCPs and the real effective outcome, questioning and following up on substantial divergences between planned and realised figures,
Amendment 125 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 15 – Establish, under the aegis of the Commission, an independent, systematic and robust evaluation process
Amendment 128 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 16 – Establish a requirement for Member States to inform each other and the Commission before taking economic policy decisions with expected tangible spill-over effects, which may distort the smooth functioning of the internal market
Amendment 132 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 17 – Establish a requirement for Member States to provide additional information, if a substantial concern arises that the policies conducted may jeopardise the proper functioning of the internal market
Amendment 133 #
Motion for a resolution Annex 1 – heading 1 – paragraph 1 – indent 18 – Take into account the assessment of the European Systemic Risk Board in the multilateral surveillance framework, in particular as regards financial stability
Amendment 141 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 1 –
Amendment 147 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 3 – Establish a clear harmonised framework to measure and monitor debt as well as surplus dynamics, including implicit and contingent liabilities, such as public guarantees in public-private-partnership investments,
Amendment 148 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 3 a (new) – Establish a country-specific differentiated time frame for the process of fiscal consolidation that will occur no later than 2015, in view of realigning all public deficit levels with the requirements set out in the SGP,
Amendment 149 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 4 – Establish a monitoring and other deterrent mechanisms including p
Amendment 155 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 5 – Establish minimum rules and guidelines for national budgetary procedures (i.e. annual and multiannual financial frameworks) in order to implement the obligation in Article 3 of the Protocol (No 12) on Excessive Deficit Procedure. Those national frameworks should include sufficient information on both the expenditure and revenue sides of the planned budgetary actions in order to enable sensible discussion and scrutiny of the budgetary plans at both the national and Union level; further work on the comparability of national budgets as regards their spending categories and the political priorities they reflect is needed,
Amendment 160 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 7 – Establish pre-specified and pre-emptive
Amendment 169 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 8 – Enforce and implement such
Amendment 174 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 9 – Make the necessary changes to the Commission's internal decision-making procedure in order to guarantee an efficient a rapid implementation of those semi- automatic preventive
Amendment 175 #
Motion for a resolution Annex 1 – heading 2 – paragraph 1 – indent 9 a (new) – The European Commission will consult the European and relevant national social partners before issuing its final conclusions on the EDP/EDSP and take their points of view into account.
Amendment 180 #
Motion for a resolution Annex 1 – heading 3 – paragraph 1 – introductory part Recognising th
Amendment 183 #
Motion for a resolution Annex 1 – heading 3 – paragraph 1 – indent 1 – Establish a euro-area-specific framework for reinforced monitoring
Amendment 193 #
Motion for a resolution Annex 1 – heading 3 – paragraph 1 – indent 3 –
Amendment 199 #
Motion for a resolution Annex 1 – heading 4 – introductory part Recommendation 4 : Establish a robust and credible excessive debt prevention
Amendment 200 #
Motion for a resolution Annex 1 – heading 4 – indent 1 – Establish
Amendment 215 #
Motion for a resolution Annex 1 – heading 5 – paragraph 1 – indent 1 – Produce, within a year, a feasibility assessment (the nature, risks and advantages) in order to
Amendment 219 #
Motion for a resolution Annex 1 – heading 5 – paragraph 1 – indent 2 – Reinforce and update, namely bearing in mind the 2020 targets, the Union cohesion policy in close cooperation with the European Investment Bank (EIB) in order to reduce structural weaknesses and increase the competitiveness of weaker economic regions, in particularly by facilitating the financing needs of SMEs and their
Amendment 224 #
Motion for a resolution Annex 1 – heading 5 – paragraph 1 – indent 3 – Develop a common budgetary strategy
Amendment 227 #
Motion for a resolution Annex 1 – heading 5 – paragraph 1 – indent 4 – Establish a clear framework for a renewed joint effort of the EU budgetary funds and EIB financial resources, to further
Amendment 229 #
Motion for a resolution Annex 1 – heading 5 – paragraph 1 – indent 5 – Establish a high-level tax policy group chaired by the Commission with a mandate to
Amendment 239 #
Motion for a resolution Annex 1 – heading 6 – paragraph 1 – indent 1 Amendment 242 #
Motion for a resolution Annex 1 – heading 6 – paragraph 1 – indent 1 a (new) – Should aim to regulate the interlinks between financial markets and macro economic policies so as to ensure stability, transparency, accountability and curb incentives for excessive risk taking,
Amendment 249 #
Motion for a resolution Annex 1 – heading 7 – paragraph 1 – indent 4 – Require Member States to indicate which data provided to the Commission (Eurostat) are supported by
Amendment 251 #
Motion for a resolution Annex 1 – heading 7 – paragraph 1 – indent 6 –
Amendment 254 #
Motion for a resolution Annex 1 – heading 8 – paragraph 1 – indent 2 a (new) – Establish a clear and targeted Euro Area/EU international agenda that will guarantee an international level playing field in the EU fiscal, anti fraud and financial regulation and supervision agenda.
source: PE-448.796
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| 4 |
2010/2206(INI) Europe, the world's No 1 tourist destination – a new political framework for tourism in Europe
2011/03/31
TRAN
4 amendments...
Amendment 28 #
Motion for a resolution Paragraph 2 2. Believes that the basis for a EU tourism strategy lies firstly in a packet of specific measures solely concerning the tourism sector, and secondly in a precise assessment of how measures in other sectors impact tourism; encourages the Commission to set specific timings to achieve all 21 actions and targets and to ask Member States to cooperate by assessing the implementation of each strategy;
Amendment 56 #
Motion for a resolution Paragraph 6 6. Welcomes the ‘European heritage label’ initiative as a tool giving prominence to some of the important sites in the history of European integration; stresses the need for coordination between this initiative and the UNESCO heritage sites in order to avoid overlapping that has no added value; recommends that the 'European heritage label' should be open, on a voluntary basis, to the participation of sites that represent European heritage in spite of being located outside the European Union;
Amendment 230 #
Motion for a resolution Paragraph 38 38. Encourages the Commission to foster a progressive reduction in the seasonal nature of tourism by continuing to build on the results, so far positive, of the preparatory action ‘Calypso’; calls, furthermore, on the Commission to press ahead with an exchange programme allowing specific categories of people, starting with the most disadvantaged, to take holidays, particularly during the low season and even travelling across national borders; recommends the progressive opening of the Calypso programme to EU citizens who meet all programme’s requirements but live in third countries, stimulating awareness in their countries of residence of European destinations, namely through reinforcing or building cultural and personal bridges with the second and third generations of European emigrants;
Amendment 257 #
Motion for a resolution Paragraph 46 46. Highlights the opportunity this presents for VAT on tourism to be progressively harmonised across the Member States as a necessary condition for transparent competition between tourist companies within the EU and with non-EU countries; welcomes in this respect the discussion that started with the publication of the Green Paper on the future of VAT; calls the attention of the Member-States to the negative side effect of the growing tendency to over tax tourists travelling to EU or inside EU countries (with fuel charges, security charges, landing fees and port airport fees, city taxes, etc.);
source: PE-458.571
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| 11 |
2011/0202(COD) Financial supervision: prudential requirements for credit institutions and investment firms
2012/07/03
ECON
2 amendments...
Amendment 174 #
Proposal for a regulation Recital 53 a (new) (53a) The minority interests arising from intermediate financial holding companies that is subject to the requirements of this regulation on a subconsolidated basis may also be eligible (within the relevant limits) to the Common Equity Tier 1 of the group on a consolidated basis, as the Common Equity Tier 1 capital of an intermediate financial holding company attributable to minority interests and the part of that same capital attributable to the parent company support both pari passu the losses of their subsidiaries when they occur.
Amendment 208 #
Proposal for a regulation Recital 83 a (new) (83a) This Regulation, along with Directive 2012/.../EU 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], is a core element of the new framework for the supervision of credit institutions in the Union but should be complemented by a framework for crisis management and resolution of credit institutions. The Commission should therefore bring forward a legislative proposal to give effect to such a framework in the Union without delay.
source: PE-483.850
2012/08/03
ECON
1 amendments...
Amendment 535 #
Proposal for a regulation Article 79 – paragraph 1 a (new) The above rule shall not be applied if the subsidiary is minority-owned by a holding company - parent company, parent financial holding company, parent mixed- activity holding company - which has no operational activities. The competent authorities may decide, on a case by case basis, that any group may be subject to this rule, whether its subsidiaries are majority-owned or minority-owned, if justified by a high level of risk exposure of such group.
source: PE-483.852
2012/09/03
ECON
8 amendments...
Amendment 1442 #
Proposal for a regulation Article 458 – paragraph 2 a (new) 2 a. In cases where certain closed defined benefits plans of member states are similar to first pillar of social security systems, for the purposes of point (a) of article 451(1), competent authorities may allow the maintenance of the additional filters as referred in article 461 (1)(a) until 31 December 2023.
Amendment 1452 #
Proposal for a regulation Article 461 – paragraph 1 1. By way of derogation from Articles 29 to 33, 53 and 63, during the period from 1 January 2013 to 31 December 2017, institutions shall make adjustments to include in or deduct from Common Equity Tier 1 items, Tier 1 items, Tier 2 items or own funds items the applicable percentage of filters or deductions required under national transposition measures for Articles 57, 61 and 66 of Directive 2006/48/EC, and for Articles 13 and 16 of Directive 2006/49/EC, or under other national provisions and which are not required in accordance with Part Two.
Amendment 1456 #
Proposal for a regulation Article 462 – paragraph 1 – point a (a) the instruments were issued prior to
Amendment 1462 #
Proposal for a regulation Article 462 a (new) Article 462a State aid instruments State aid instruments issued after the date of application of this Regulation shall only be eligible under Part Two if they comply with points (b) and (c) of paragraph 1 of Article 462 and respect minimum eligibility criteria. EBA shall develop draft regulatory technical standards to specify the minimum eligibility criteria referred in the previous paragraph. When specifying the referred criteria EBA shall, where appropriate, adapt the requirements foreseen in Title II, so that the capital instruments meet Commission's state aid framework requirements while keeping the loss absorption capacity and not providing wrong incentives for institutions. EBA shall submit those draft regulatory technical standards to the Commission by 1 January 2013, and update them where appropriate. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 1601 #
Proposal for a regulation Article 485 – title Amendment 1603 #
Proposal for a regulation Article 485 – paragraph 1 The Commission shall within 12
Amendment 1605 #
Proposal for a regulation Article 485 – paragraph 2 – point a (a) an analysis on the appropriateness of the credit risk weights applicable to lending to small and medium-sized enterprises, that should comprise a comparison between actual unexpected credit losses on lending to small and medium sized enterprises and natural persons within the European Union over a full economic cycle and the unexpected credit losses based on the credit risk weights applicable to lending to small and medium-sized enterprises;
Amendment 1616 #
Proposal for a regulation Article 486 a (new) Article 486 a The framework for crisis management and resolution of credit institutions By 31 July 2012 the Commission shall review and report on the framework for crisis management and resolution of credit institutions and shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal.
source: PE-483.854
|
| 4 |
2011/0203(COD) Financial supervision: access to the activity of credit institutions and supervision of credit institutions and investment firms
2012/07/03
ECON
4 amendments...
Amendment 44 #
Proposal for a directive Recital 12 a (new) (12a) In order to tackle tax avoidance, the Union should start requiring legal persons to disclose country-by-country reporting; therefore, a credit institution that does not provide country-by-country reporting should not be authorised.
Amendment 109 #
Proposal for a directive Article 13 – paragraph 2 – point b a (new) (ba) any credit institution provides country-by-country reporting.
Amendment 505 #
Proposal for a directive Article 127 – paragraph 1 1. Where a designated authority, in accordance with Article 126(5), or a relevant third country authority has set a countercyclical buffer rate in excess of 2.5% of the total risk exposure amount referred to in Article 87(3) of Regulation
Amendment 509 #
Proposal for a directive Article 127 – paragraph 2 a (new) 2a. Where a designated authority or a relevant third country authority has set a countercyclical buffer rate in excess of 2.5% of the total risk exposure amount referred to in Article 127(1), the ESRB should evaluate that buffer rate and may issue a recommendation to designated authorities on the appropriate countercyclical buffer rate for exposures to that third country, in accordance to Article 128(3). In accordance with Article 128(3), from the moment the ESRB has issued a recommendation to any designated authority to set a different countercyclical buffer rate than that designated authority had previously established, all other designated authorities will recognise the rate the ESRB has recommended.
source: PE-483.817
|
| 2 |
2011/0276(COD) Structural instruments: common provisions for ERDF, ESF, Cohesion Fund, EAFRD and EMFF; general provisions applicable to ERDF, ESF and Cohesion Fund
2012/04/25
ECON
2 amendments...
Amendment 18 #
Proposal for a regulation Recital 3 a (new) (3a) The economic and financial crisis has severely affected the Member States and their citizens and has had a major impact on all European regions. Many Member States are being affected by economic recession and a deterioration of social conditions, while at the same time unemployment is reaching record levels. This is leading to fresh inequalities between the regions in terms of growth, and to the aggravation of existing inequalities. In this context, cohesion policy fulfils a particularly important purpose, making a decisive contribution to stimulating the economy, promoting sustainable, smart and inclusive growth and narrowing social and geographic inequalities. Given that the current crisis has increased pressure on national public financial resources and reduced the lending capacity of the private sector, CSF Funds provide the resources essential to deal with the consequences of the crisis. It is accordingly necessary to introduce greater flexibility into cohesion policy measures in order to maximise and optimise the use of CSF Funds.
Amendment 28 #
Proposal for a regulation Recital 55 a (new) (55a) The economic and financial crisis has revealed the inadequacy of GDP as the sole indicator of eligibility for assistance from the CSF Funds. It is necessary to assess more accurately the actual development levels of European regions and the contribution which Member States can make to project implementation so as to ensure a more appropriate and fairer distribution of funding to the Member States. For this reason, it is essential to combine the actual levels of regional GDP with the capacity of the Member state to help its own regions, as well as, to take into account the medium to long-term trends in the comparative evolution of the region's GDP.
source: PE-487.925
|
| 1 |
2011/0283(COD) Structural Funds and Cohesion Fund: provisions relating to risk sharing instruments for Member States experiencing or threatened with serious difficulties with respect to their financial stability
2012/10/02
ECON
1 amendments...
Amendment 9 #
Proposal for a regulation Recital 13 (13) In order to alleviate those problems and to speed up the implementation of the operational programmes and projects, as well as to strengthen the economic recovery, it is appropriate that the managing authorities of the Member States having experienced serious difficulties with respect to financial stability and which have been granted financial assistance according to one of the financial assistance mechanisms set out above may contribute, temporarily and without prejudice to the 2014 to 2020 programming period, financial resources from operational programmes to the establishment of risk sharing instruments providing loans or guarantees or other financial facilities, in support of projects and operations foreseen under an operational programme.
source: PE-483.475
|
| 16 |
2011/0295(COD) Financial supervision: insider dealing and market manipulation (market abuse)
2012/11/05
ECON
16 amendments...
Amendment 104 #
Proposal for a regulation Recital 27 (27) Insider lists are an important tool for regulators when investigating possible market abuse, but national differences in regards to data to be included in those lists impose unnecessary administrative burdens on issuers. Data fields required for insider lists should therefore be uniform in order to reduce those costs.
Amendment 127 #
Proposal for a regulation Article 2 – paragraph 1 – point b (b) financial instruments traded on a MTF
Amendment 190 #
Proposal for a regulation Article 7 – paragraph 5 – subparagraph 1 – point d (d) being involved in
Amendment 220 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) entering into a transaction, placing an order to trade or any other behaviour affecting or likely to affect the price of one or several financial instruments or a related spot commodity contract, which employs a fictitious device or any other form of deception or contrivance; or
Amendment 236 #
Proposal for a regulation Article 8 – paragraph 3 – point a (a) conduct by a person, or persons acting in collaboration, to secure a dominant position over the supply of or demand for a financial instrument or related spot commodity contracts which has or is likely to have the effect of fixing, directly or indirectly, purchase or sale prices or creating other unfair trading conditions,
Amendment 239 #
Proposal for a regulation Article 8 – paragraph 3 – point b (b) the buying or selling of financial instruments at the close of the market w
Amendment 252 #
Proposal for a regulation Article 8 – paragraph 3 – point d (d) taking advantage of occasional or regular access to the traditional or electronic media by voicing an opinion about a financial instrument or related spot commodity contract (or indirectly about its issuer) while having previously taken positions on that financial instrument or related spot commodity contract and aiming at profiting subsequently from the impact of the opinions voiced on the price of that instrument or related spot commodity contract, without having simultaneously disclosed that conflict of interest to the public in a proper and effective way.
Amendment 279 #
Proposal for a regulation Article 12 – paragraph 2 – subparagraph 1 An emission allowance market participant shall publicly, effectively and
Amendment 303 #
Proposal for a regulation Article 13 – paragraph 2 Amendment 313 #
Proposal for a regulation Article 14 – paragraph 2 – introductory part 2. For the purposes of paragraph 1 transactions that must be
Amendment 330 #
Proposal for a regulation Article 15 – paragraph 3 – subparagraph 1 ESMA shall develop draft regulatory technical standards to determine the technical arrangements, for the various categories of person referred to in paragraph 1, for objective presentation of information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest.
Amendment 334 #
Proposal for a regulation Article 17 – paragraph 2 – point e (e) after having obtained prior authorisation from the judicial authority of the Member State concerned when required by and in accordance with national law, and where a reasonable suspicion exists that documents related to the subject-matter of the inspection may be relevant to prove a case of insider dealing or market manipulation in violation of this Regulation or Directive [new MAD], enter private premises in order to seize documents in any form ;
Amendment 366 #
Proposal for a regulation Article 25 – paragraph 1 – point j (j) an issuer of a financial instrument or an emission allowance market participant, not exempted pursuant to the second subparagraph of paragraph 2 of Article 12, fails to inform the competent authority that the disclosure of inside information was delayed, in breach of Article 12 (
Amendment 367 #
Proposal for a regulation Article 25 – paragraph 1 – point k (k) an issuer of a financial instrument or an emission allowance market participant, or a person acting on their behalf or on their account fails to disclose to the public the inside information disclosed to any person in the normal exercise of duties resulting from employment or profession, in breach of Article 12 (
Amendment 369 #
Proposal for a regulation Article 26 – paragraph 1 – introductory part 1. Without prejudice to the supervisory powers of competent authorities in accordance with Article 17, in case of a breach referred to in
Amendment 395 #
Proposal for a regulation Article 30 – paragraph 1 1. Competent
source: PE-489.421
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| 18 |
2011/0296(COD) Financial supervision: markets in financial instruments; OTC derivatives, central counterparties and trade repositories
2012/05/14
ECON
18 amendments...
Amendment 98 #
Proposal for a regulation Recital 6 (6) Definitions of regulated market and MTF should be
Amendment 102 #
Proposal for a regulation Recital 7 (7) In order to make European markets more transparent, safer, more efficient, and to level the playing field between various venues offering trading services, it is necessary to
Amendment 111 #
Proposal for a regulation Recital 8 (8) Th
Amendment 133 #
Proposal for a regulation Recital 16 (16) An investment firm executing client orders against own proprietary capital should be deemed a systematic internaliser, unless the transactions are carried out o
Amendment 146 #
Proposal for a regulation Recital 18 (18) It is not the intention of this Regulation to require the application of pre-trade transparency rules as well as other market-facing rules imposed on trading venues to transactions carried out on an OTC basis, the characteristics of which
Amendment 166 #
Proposal for a regulation Recital 31 Amendment 168 #
Proposal for a regulation Recital 32 Amendment 172 #
Proposal for a regulation Recital 33 Amendment 204 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 a (new) (2 a) 'Multilateral system' means a system that brings together or facilitates the bringing together of buying and selling interests in financial instruments, whereby the operator does not take on capital risk, irrespective of the actual number of orders that are executed in the resulting transactions;
Amendment 205 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 b (new) (2 b) 'Bilateral system' means a system that brings together or facilitates the buying and selling interests in financial instruments, whereby the operator of the investment firms takes on capital risk;
Amendment 206 #
Proposal for a regulation Article 2 – paragraph 1 – point 3 (3) ‘systematic internaliser’ means an investment firm which, on an organised, frequent and systematic basis,
Amendment 211 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) ‘regulated market’ means a multilateral system operated and/or managed by a market operator, which brings together or facilitates the bringing together of multiple third-party buying and selling interests in financial instruments – in the system
Amendment 217 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 (6) ‘multilateral trading facility (MTF)’ means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system
Amendment 221 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 a (new) (6 a) 'Over-the-counter (OTC) trading' means any bilateral trading which is, cumulatively, carried out by a broker outside a platform on its own account on an occasional, ad hoc and irregular basis with eligible counterparties and always at sizes above standard market size;
Amendment 240 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 (25) ‘trading venue’ means any regulated market, MTF or
source: PE-489.472
|
| 3 |
2011/0297(COD) Financial supervision: criminal sanctions for insider dealing and market manipulation
2012/07/13
ECON
3 amendments...
Amendment 35 #
Proposal for a directive Article 3 – paragraph 1 – point a (a) when in possession of inside information, using that information to acquire or dispose of financial instruments to which that information relates for one's own account or for the account of a third party, either directly or indirectly. This also includes using inside information to cancel or amend an order concerning a financial instrument to which that information relates where that order was placed before entering into possession of that inside information; or
Amendment 47 #
Proposal for a directive Article 4 – paragraph 1 – point c (c) entering into a transaction, placing an order to trade, or any other activity in financial markets affecting or likely to affect the price of one or several financial instruments or a related spot commodity contract, which employs a fictitious device or any other form of deception or contrivance;
Amendment 51 #
Proposal for a directive Article 4 – paragraph 1 – point d (d) dissemination of information which gives false or misleading signals as to financial instruments or related spot commodity contracts, where those persons aim at deriv
source: PE-489.420
|
| 18 |
2011/0298(COD) Financial supervision: markets in financial instruments. Recast
2012/05/15
ECON
18 amendments...
Amendment 224 #
Proposal for a directive Recital 11 (11) It is necessary to establish a comprehensive regulatory regime governing the execution of transactions in financial instruments irrespective of the trading methods used to conclude those transactions so as to ensure a high quality of execution of investor transactions and to uphold the integrity and overall efficiency of the financial system. A coherent and risk-sensitive framework for regulating the main types of order-execution arrangement currently active in the European financial marketplace should be provided for. It is necessary to recognise the emergence of a new generation of organised trading systems alongside regulated markets
Amendment 225 #
Proposal for a directive Recital 12 (12) All trading venues, namely regulated markets, MTFs, and
Amendment 232 #
Proposal for a directive Recital 13 (13) An investment firm executing client orders against own proprietary capital should be deemed a systematic internaliser, unless the transactions are carried out on an over-the-counter (OTC) basis. OTC trading refers to bilateral trading outside regulated markets
Amendment 303 #
Proposal for a directive Recital 53 (53) Investment firms are allowed to provide investment services that only consist of execution and/or the reception and transmission of client orders, without the need to obtain information regarding the knowledge and experience of the client in order to assess the appropriateness of the service or the instrument for the client. Since these services entail a relevant reduction of clients' protections, it is appropriate to improve the conditions for their provision. In particular, it is appropriate to exclude the possibility to provide these services in conjunction with the ancillary service consisting of granting credits or loans to investors to allow them to carry out a transaction in which the investment firm is involved, since this increases the complexity of the transaction and makes more difficult the understanding of the risk involved. It is also appropriate to better define the criteria for the selection of the financial instruments to which these services should relate in order to exclude the financial instruments
Amendment 489 #
Proposal for a directive Article 4 – paragraph 2 – point 33 a (new) 33a) 'Market distorting positions' means positions which do not objectively reduce risks directly related to commercial activities related to the commodity and are above the level required to provide sufficient liquidity for positions which do objectively reduce risks directly related to commercial activities related to the commodity, or which otherwise disrupt the price discovery function of the market;
Amendment 614 #
Proposal for a directive Article 18 – paragraph 1 1. Member States shall require that investment firms or market operators operating an MTF
Amendment 820 #
Proposal for a directive Article 25 – paragraph 3 – subparagraph 1 – point a – point iv (iv) shares or units in UCITS
Amendment 903 #
Proposal for a directive Article 35 – paragraph 7 7. Member States shall require that where a financial instrument of an issuer is admitted to trading on one SME growth market, the financial instrument may
Amendment 1097 #
Proposal for a directive Article 59 – paragraph 1 – subparagraph 1 – introductory part Member States shall ensure that
Amendment 1108 #
Proposal for a directive Article 59 – paragraph 1 – subparagraph 1 – point c a (new) (c a) ensure price discovery for the physical market;
Amendment 1111 #
Proposal for a directive Article 59 – paragraph 1 – subparagraph 1 – point c b (new) (cb) prevent the build-up of market distorting positions.
Amendment 1116 #
Proposal for a directive Article 59 – paragraph 1 – subparagraph 2 The limits
Amendment 1129 #
Proposal for a directive Article 59 – paragraph 2 2. Regulated markets
Amendment 1134 #
Proposal for a directive Article 59 – paragraph 3 3. The Commission shall be empowered to adopt delegated acts in accordance with Article 94 to determine (a) the limits
Amendment 1141 #
Proposal for a directive Article 59 – paragraph 4 Amendment 1160 #
Proposal for a directive Article 60 – paragraph 1 a (new) 1 a. Member States shall ensure that investment firms trading in commodity derivatives or emission allowances or derivatives thereof outside of a trading venue provide the competent authority, upon request, with a complete breakdown of their positions, in accordance with Article 23 of Regulation (EU) No .../... [MiFIR].
Amendment 1171 #
Proposal for a directive Article 60 – paragraph 3 – subparagraph 2 The reports mentioned in point (a) of paragraph 1 sh
Amendment 1176 #
Proposal for a directive Article 60 – paragraph 4 – subparagraph 1 ESMA shall develop draft implementing technical standards to determine the format of the reports mentioned in p
source: PE-489.463
|
| 38 |
2011/0385(COD) Economic governance: strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area. 'Two pack'
2012/03/13
ECON
38 amendments...
Amendment 49 #
Proposal for a regulation Recital 1 (1) The unprecedented global crisis that has hit the world over the last three years has seriously damaged economic growth and financial stability and provoked a strong deterioration in the government deficit and debt position of the Member States, leading a number of them to seek financial assistance
Amendment 55 #
Proposal for a regulation Recital 3 (3) The intensity of the economic and fiscal surveillance should be commensurate to the severity of the financial difficulties encountered and should take due account of the nature of the financial assistance received, which may range from a mere precautionary support based on eligibility conditions up to a full macro-economic adjustment programme
Amendment 60 #
Proposal for a regulation Recital 3 a (new) (3a) In applying this Regulation, the Council and the Commission should fully respect the role of social partners, as well as differences in national systems, such as the systems for wage formation.
Amendment 63 #
Proposal for a regulation Recital 4 (4) A Member State whose currency is the euro should be subject to enhanced surveillance when it is experiencing - or at risk of experiencing - severe financial disturbance, with a view to ensuring its swift return to a normal situation and to protecting the other euro area Member States against possible negative spill over effects. This enhanced surveillance should be proportionate to the seriousness of the problems and graduated accordingly. It should include a wider access to the information needed for a close monitoring of the economic, fiscal and financial situation and a regular reporting to the competent committee of the European Parliament as well as the Economic and Financial Committee (EFC) or to any sub- committee the latter may designate for that purpose. The same modalities of surveillance should apply to Member States requesting precautionary assistance from the European Financial Stability Facility (EFSF), the European Stability Mechanism (ESM) the International Monetary Fund (IMF) or another international financial institution.
Amendment 65 #
Proposal for a regulation Recital 4 a (new) (4a) A Member State subject to enhanced surveillance should also adopt measures aimed at addressing the sources or potential sources of its difficulties. To that end, all recommendations addressed to it in the excessive deficit procedure or in the imbalances procedure should be taken into account.
Amendment 66 #
Proposal for a regulation Recital 5 (5) The surveillance of the economic and fiscal situation should be strongly reinforced for Member States under macro- economic adjustment programme. Because of the comprehensive nature of the latter, the other processes of economic and fiscal surveillance should be suspended for the duration of the macro-economic adjustment programme, with a view to avoiding a duplication of reporting obligations. However, when preparing the macroeconomic adjustment programme, all recommendations addressed to the Member State in the latter procedures should be taken into account.
Amendment 77 #
Proposal for a regulation Recital 7 Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation sets out provisions for strengthening the economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability
Amendment 95 #
Proposal for a regulation Article 1 – paragraph 2 a (new) 2a. The application of this Regulation shall fully observe Article 152 TFEU and shall fully respect national practices and institutions for wage formation. This Regulation shall take into account Article 28 of the Charter of Fundamental Rights of the European Union, and, accordingly, shall not affect the right to negotiate, conclude or enforce collective agreements or to take collective action in accordance with national law and practices.
Amendment 98 #
Proposal for a regulation Article 1 a (new) Article 1a Coordination of sovereign debt issuance 1. With a view to better coordinating the planning and placement of their national debt issuance, Member States shall report ex ante on their public debt issuance plans to the Commission and to the Council. 2. Member States shall seek to improve the financing conditions of their national debt by agreeing, following a proposal by the Commission, an annual coordinated national debt issuance schedule. 3. Member States co-operating under paragraph 2 may further improve and stabilise their financing conditions by offering a coordinated interest rate on their national debt, on the basis of the country's economic fundamentals and the market conditions and following a methodology to be established by a regulation of the European Parliament and the Council. That regulation will also define the conditions for the buying by the ESM of any residual unsold amount from coordinated national debt issuances.
Amendment 104 #
Proposal for a regulation Article 2 – paragraph 1 1. The Commission may decide
Amendment 106 #
Proposal for a regulation Article 2 – paragraph 2 2. The Commission shall decide to make a Member State receiving a financial assistance
Amendment 115 #
Proposal for a regulation Article 3 – paragraph 1 1. A Member State under enhanced surveillance shall, in consultation and cooperation with the Commission, acting in liaison with the European Central Bank (ECB) where appropriate, adopt measures aimed at addressing the sources or potential sources of difficulties taking into account any recommendations addressed to them under Regulations (EU) No 1466/97, 1467/97 and 1176/2011 and in their National Reform Programmes and Stability and Convergence Programmes.
Amendment 120 #
Proposal for a regulation Article 3 – paragraph 2 Amendment 123 #
Proposal for a regulation Article 3 – paragraph 3 – introductory part 3. On the basis of a request from the Commission and with the timeframes there set out, the Member State under enhanced surveillance shall, in accordance with Article 2(1):
Amendment 124 #
Proposal for a regulation Article 3 – paragraph 3 – point a Amendment 126 #
Proposal for a regulation Article 3 – paragraph 3 – point a a (new) (aa) communicate any information needed for the monitoring of macroeconomic imbalances established by Regulation (EU) No 1176/2011 of the European Parliament and of the Council on the prevention and correction of macroeconomic imbalances;
Amendment 127 #
Proposal for a regulation Article 3 – paragraph 3 – point a b (new) (ab) communicate to the Commission, the ECB and the relevant ESA at the requested frequency disaggregated information on the financial situation of the financial institutions which are under the surveillance of its national supervisors;
Amendment 128 #
Proposal for a regulation Article 3 – paragraph 3 – point b Amendment 130 #
Proposal for a regulation Article 3 – paragraph 3 – point c Amendment 132 #
Proposal for a regulation Article 3 – paragraph 3 – point d Amendment 134 #
Proposal for a regulation Article 3 – paragraph 3 a (new) 3a. On the basis of a request from the Commission and with the timeframes there set out, the Member State under enhanced surveillance according to Article 2(2) shall: (a) carry out, under the supervision of the European Banking Authority, stress test exercises or sensitivity analyses as necessary to assess the resilience of the banking sector to various macroeconomic and financial shocks, as specified by the Commission and the ECB, and share the detailed results with them; (b) be subject to regular assessments of its supervisory capacities over the financial sector in the framework of specific peer review carried out by the ESAs; Member States receiving financial support for recapitalising financial institutions shall in addition report on the conditionality imposed on these financial institutions, including executive remuneration and real economy credit conditions. (c) precisely identify the investment component as well as the budgetary consequences of economic reforms agreed in the National Reform Programmes as well as any deviations from the National Reform Programmes and EU country- specific policy recommendations on a multiannual basis. Any deviations shall be duly explained.
Amendment 135 #
Proposal for a regulation Article 3 – paragraph 3 b (new) 3b. For Member States placed under enhanced surveillance and where an excessive deficit exists, the closer monitoring of the fiscal situation laid down in Article 7(2), (3) and (6), of Regulation (EU) No .../2012 of the European Parliament and of the Council of the European Parliament and of the Council of ... [on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area]shall continue to apply. The report referred to in paragraph 3 of this Article shall be submitted on a quarterly basis.
Amendment 139 #
Proposal for a regulation Article 3 – paragraph 4 4. The Commission shall conduct, in liaison with the ECB, regular review missions in the Member State under enhanced surveillance to verify the progresses made in the implementation of the measures mentioned in paragraph 1, 2 and 3. It shall communicate every quarter its findings to the Economic and Financial Committee (EFC) - or to any subcommittee the latter may designate for that purpose - and assess notably whether further measures are needed. These review missions shall replace the onsite monitoring foreseen in Article 10a(2) of Regulation (EC) No 1467/97.
Amendment 144 #
Proposal for a regulation Article 3 – paragraph 5 5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial and economic situation of the Member State concerned has significant adverse effects on the
Amendment 151 #
Proposal for a regulation Article 3 – paragraph 6 – point a (a) the relevant Committee of the European Parliament may invite representatives of the Member State concerned and the Commission to participate to an exchange of views;
Amendment 159 #
Proposal for a regulation Article 4 – paragraph 1 A Member State wishing to obtain financial assistance from one or several other States, the EFSF, the ESM, the International Monetary Fund (IMF) or another institution outside of the Union framework shall immediately inform the Council, the Commission, the European Parliament and the ECB of its intention. The competent committee of the European Parliament together with the EFC, or any subcommittee the latter may designate for that purpose, shall hold a discussion on this envisaged request, after having received an assessment from the Commission.
Amendment 161 #
Proposal for a regulation Article 5 – paragraph 1 Where financial assistance is sought from the EFSF or the ESM, the Commission shall prepare – in liaison with the ECB
Amendment 164 #
Proposal for a regulation Article 6 – paragraph 1 1. A Member State receiving financial assistance from one or several other States, the IMF, the EFSF or the ESM shall pre
Amendment 184 #
Proposal for a regulation Article 6 – paragraph 3 3. The Commission, in liaison with the ECB, shall monitor the progress made in the implementation of the adjustment programme and inform every three months the competent committee of the European Parliament as well as the EFC or any subcommittee the latter may designate for that purpose. The Member State concerned shall give the Commission its full cooperation. It shall in particular provide to the Commission all the information that the latter deems necessary for the monitoring of the programme. Article 3(3) shall apply.
Amendment 190 #
Proposal for a regulation Article 6 – paragraph 4 4. The Commission - in liaison with the ECB
Amendment 203 #
Proposal for a regulation Article 6 – paragraph 7 7. The relevant Committee of the European Parliament may invite representatives of the Member State concerned and the Commission to participate to an exchange of views on the progress made in the implementation of the adjustment programme.
Amendment 214 #
Proposal for a regulation Article 7 – paragraph 1 1. The adjustment programme and the changes thereto provided for by Article 6 of this Regulation shall
Amendment 215 #
Proposal for a regulation Article 7 – paragraph 2 – point a (a) The adjustment programme provided for by Article 6 of this Regulation shall also
Amendment 217 #
Proposal for a regulation Article 7 – paragraph 2 – point b (b) The annual budgetary targets in the adjustment programme provided for by Article 6(3) of this Regulation
Amendment 218 #
Proposal for a regulation Article 7 – paragraph 2 – point c (c) The monitoring provided for by Article 6(3) of this Regulation shall
Amendment 222 #
Proposal for a regulation Article 9 – paragraph 1 The monitoring provided for by Article 6(3) of this Regulation shall
Amendment 241 #
Proposal for a regulation Article 11 – paragraph 4 4. The Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State under post programme surveillance to adopt corrective measures. The competent committee of the European Parliament may invite the Member State to an exchange of views on post programme recommendations.
source: PE-485.871
|
| 19 |
2011/0386(COD) Economic governance: common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit in the euro area. 'Two pack'
2012/03/13
ECON
19 amendments...
Amendment 53 #
Proposal for a regulation Recital 2 a (new) (2a) The European semester includes (a) the formulation, and the surveillance of the implementation, of the broad economic policies of the Member States and of the Union (broad economic policy guidelines) in accordance with Article 121(2) TFEU; (b) the formulation, and the examination of the implementation, of the employment guidelines that must be taken into account by Member States in accordance with Article 148(2) TFEU (employment guidelines); (c) the submission and assessment of Member States' stability or convergence programmes under Regulation (EC) 1466/97 as amended by Regulation (EC) 1175/2011; (d) the submission and assessment of Member States' national reform programmes supporting the Union's strategy for growth and jobs and established in line with the guidelines set out in point (a) and (b) and with the general guidance to Member States issued by the Commission and the European Council at the beginning of the annual cycle of surveillance; (e) surveillance to prevent and correct macroeconomic imbalances under Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances.
Amendment 66 #
Proposal for a regulation Recital 5 (5) Strong public finances and coordinated economic policies are best ensured at the planning stage and gross errors should be identified as early as possible. Member States should benefit not just from the setting of guiding principles and budgetary targets but also from a synchronised monitoring of their budgetary and macroeconomic policies.
Amendment 84 #
Proposal for a regulation Recital 8 (8) Biased and unrealistic macroeconomic and budgetary forecasts can considerably hamper the effectiveness of budgetary planning and consequently impair commitment to budgetary discipline. Forecasts from credible and independent bodies can provide unbiased and realistic macroeconomic forecasts, once their comparability and coherence has been granted. The Commission will make public minimum requirements for those independent bodies in order to ensure their credibility and independence.
Amendment 87 #
Proposal for a regulation Recital 8 a (new) (8a) The Commission should set indicative lower and upper thresholds that are symmetric by drafting the alert mechanism report, in particular with respect to current account balances.
Amendment 105 #
Proposal for a regulation Recital 12 a (new) (12a) In applying this Regulation, the Council and the Commission should fully respect the role of the social partners, as well as differences in the national systems, such as the systems for wage formation.
Amendment 124 #
Proposal for a regulation Article 1 – paragraph 2 a (new) 2a. The application of this Regulation shall fully observe Article 152 TFEU and shall fully respect national practices and institutions for wage formation. This Regulation takes into account Article 28 of the Charter of Fundamental Rights of the European Union, and, accordingly, does not affect the right to negotiate, conclude or enforce collective agreements or to take collective action in accordance with national law and practices.
Amendment 134 #
Proposal for a regulation Article 3 – paragraph 1 1. Member States shall
Amendment 177 #
Proposal for a regulation Article 5 – paragraph 3 – point c (c) the targeted expenditure and revenue as a percentage of GDP for the general government and their main components, taking into account the conditions and criteria to establish the growth path of government expenditure net of discretionary revenue measures under Article 5(1) of Regulation (EC) No 1466/97; A deviation from the adjustment path towards the medium-term budgetary objective shall be considered significant if the following conditions occur: an excess over the expenditure growth net of public investment consistent with the medium term budgetary objective, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure;
Amendment 183 #
Proposal for a regulation Article 5 – paragraph 3 – point d a (new) (da) a detailed description of projected expenditure directly related to the achievement of the objectives embedded in the Union's strategy for growth and jobs including public investments;
Amendment 194 #
Proposal for a regulation Article 5 – paragraph 3 – point f a (new) (fa) a quantification of the public investment needs and, as appropriate, of the budgetary impact of the measures foreseen in the National Reform Programmes for the forthcoming year;
Amendment 215 #
Proposal for a regulation Article 6 – paragraph 1 1. The Commission shall
Amendment 233 #
Proposal for a regulation Article 6 a (new) Article 6a Coordination of sovereign debt issuance 1. With a view to better coordinating the planning and placement of their national debt issuance, the Member States shall report ex ante on their public debt issuance plans to the European Commission and to the Council. 2. Several or all Member States may seek to improve the financing conditions of their national debt by agreeing, following a proposal by the Commission, an annual coordinated national debts issuance schedule. 3. Member States co-operating under paragraph 2 may further improve and stabilise their financing conditions by offering a coordinated interest rate on their national debt, on the basis of the country's economic fundamentals and the market conditions and following a methodology established by a regulation of the European Parliament and the Council. That regulation will also define the conditions for the buying by the ESM of any residual unsold amount from coordinated national debts issuances.
Amendment 255 #
Proposal for a regulation Article 7 – paragraph 6 – point a (a) carry out and report on a comprehensive independent audit of the accounts of the general government conducted in coordination with national supreme audit institutions, aiming at assessing the reliability, completeness and accuracy of these public accounts for the purposes of the excessive defi
Amendment 257 #
Proposal for a regulation Article 7 a (new) Article 7a Economic partnership programmes 1. Where the Council decides in accordance with Article 126(6) TFEU that an excessive deficit exists in a Member State, the Member State concerned shall present to the Commission and to the Council an economic partnership programme describing the policy measures and structural reforms that are needed to ensure an effectively durable correction of the excessive deficit, as a detailed development of the Stability Programmes and the national reform programmes and fully taking into account the Council recommendations on the implementation of the integrated guidelines for the economic and employment policies of the Member State concerned. 2. The economic partnership programme shall be fully compatible with the policies referred to in Article 1. 3. In the event of a severe economic downturn that leads the Council to extend the deadline for the correction of the excessive deficit in accordance with Article 5 of Regulation (EC) No 1467/97, the economic partnership programme shall reflect that decision. 4. The economic partnership programme shall be presented at the same time as the reports provided for in Article 3(4a) and Article 5(1a) of Regulation (EC) No 1467/97. 5. The Council, acting by qualified majority on a proposal from the Commission, shall adopt an opinion on the economic partnership programme. 6. If a corrective action plan exists in accordance with Article 8(1) of Regulation (EU) No 1176/2011, the measures referred to in paragraph 1 shall be included in the plan. 7. The implementation of the programme, and the annual budgetary plans consistent with it, shall be monitored by the Commission and by the Council.
Amendment 267 #
Proposal for a regulation Article 9 – paragraph 1 – subparagraph 1 a (new) A Member State facing a situation of economic downturn such as the contraction of its GDP and/or a significant increase of its unemployment rate shall benefit from a suspension of its excessive deficit procedure.
Amendment 271 #
Proposal for a regulation Article 10 – paragraph 1 a (new) Member States in the euro area shall submit annually to the Commission and to the Eurogroup a draft sovereign debt issuance schedule; coordination of issuance timelines and conditions shall optimise the financing conditions of sovereign debt issuance.
Amendment 272 #
Proposal for a regulation Article 10 – paragraph 1 b (new) On entry into force of this Regulation, the Commission shall publish a concrete roadmap for the implementation of stability bonds in accordance with its Green Paper of 23 November 2011 on the feasibility of introducing Stability Bonds and shall immediately establish a redemption fund.
Amendment 280 #
Proposal for a regulation Article 11 – paragraph 1 – subparagraph 2 – point b a (new) (ba) the contribution of this Regulation to the achievement of the Union's strategy for growth and jobs.
Amendment 286 #
Proposal for a regulation Article 12 – paragraph 1 1. This Regulation shall apply to the Member States that are already subject to an excessive deficit procedure at the time of the entry into force of this Regulation
source: PE-485.870
|
| 4 |
2011/2094(INI) Annual report on EU Competition Policy
2011/03/10
ECON
4 amendments...
Amendment 16 #
Motion for a resolution Paragraph 3 a (new) 3a. Calls on the Commission to quickly come forward with the foreseen legislative proposal to address in a true European framework the resolution of failing banks, guaranteeing a common rulebook, a common set of intervention tools and triggers, limiting taxpayers’ involvement to a minimum, namely through the creation of harmonised self-financed (on a risk based approach) industry resolution funds;
Amendment 55 #
Motion for a resolution Paragraph 15 15. Welcomes the Commission's Energy 2020 initiative; urges the Commission to pursue the full implementation of the internal energy market package; encourages the Commission, insofar as an open and competitive single market in energy has not yet been fully achieved, actively to monitor competition in energy markets, specifically whenever privatisation of public utilities originates in private monopolistic or oligopolistic markets in countries with weak regulatory and supervisory structures;
Amendment 62 #
Motion for a resolution Paragraph 15 a (new) 15a. Calls on the Commission to thoroughly investigate competition in the credit rating agencies market, particularly in so far as barriers to entry, alleged collusive practices and abuse of dominant positions are concerned;
Amendment 65 #
Motion for a resolution Paragraph 15 b (new) 15b. Encourages the Commission to investigate the competition situation in the retail sector, in particular the consequences of alleged abuse of market power by dominant retail chains with negative consequences for small retailers and producers, namely in the agriculture and food market;
source: PE-472.269
|
| 11 |
2011/2156(INI) ECB annual report for 2010
2011/08/09
ECON
11 amendments...
Amendment 12 #
Motion for a resolution Recital D D. whereas on 10 May 2010, the ECB announced
Amendment 21 #
Motion for a resolution Recital E E. whereas
Amendment 42 #
Motion for a resolution Paragraph 3 3. Recalls that the
Amendment 106 #
Motion for a resolution Paragraph 10 10. Notes the rapid e
Amendment 112 #
Motion for a resolution Paragraph 11 11. Points out that the ECB balance sheet expansion has not led to inflation,
Amendment 118 #
Motion for a resolution Paragraph 12 12.
Amendment 141 #
Motion for a resolution Paragraph 15 15.
Amendment 153 #
Motion for a resolution Paragraph 16 16. Calls
Amendment 176 #
Motion for a resolution Paragraph 18 18. Stresses the need for a single European Treasury
Amendment 184 #
Motion for a resolution Paragraph 18 a (new) 18a. Welcomes that the European Stability Mechanism (ESM) acquired the right to purchase government bonds on the secondary market as this could mean a relief for the ECB in the current circumstances;
Amendment 199 #
Motion for a resolution Paragraph 20 20. Believes that the introduction of eurosecurities may constitute the necessary fiscal quantum-leap forward
source: PE-472.106
|
| 236 |
2012/0150(COD) Credit institutions and investment firms: framework for recovery and resolution
2012/12/20
ECON
211 amendments...
Amendment 146 #
Proposal for a directive Recital 4 (4) A regime is, therefore, needed to provide authorities with
Amendment 158 #
Proposal for a directive Recital 11 (11) In order to ensure the required speed of action, to guarantee independence from economic actors and to avoid conflicts of interest, Member States should appoint public administrative authorities endowed with administrative and financial independence to perform the functions and tasks in relation to resolution pursuant to this Directive. Member States should ensure that appropriate resources are allocated to those resolution authorities. The designation of public authorities should not exclude delegation under the responsibility of the resolution authority. However, it is not necessary to prescribe the exact authority that Member States should appoint as the resolution authority. While harmonisation of that aspect may facilitate coordination, it would also considerably interfere with the constitutional and administrative systems of Member States. A sufficient degree of coordination can still be achieved with a less intrusive requirement: all the national authorities involved in the resolution of institutions should be represented in resolution colleges, where coordination at cross-border or Union level should take place. Member States should, therefore, be free to choose which authorities should be responsible for applying the resolution tools and exercising the powers provided for in this Directive.
Amendment 166 #
Proposal for a directive Recital 13 a (new) (13a) In the resolution of institutions or groups operating across the Union, the decisions taken should preserve financial stability and minimise economic and social effects in the Member States where the institution or group operates.
Amendment 167 #
Proposal for a directive Recital 14 (14) In order to ensure uniform and consistent approach in the area covered by this Directive, EBA should also be empowered to adopt guidelines, and elaborate regulatory and technical standards to be endorsed by the Commission by means of delegated acts pursuant to Article 290 of the Treaty on the Functioning of the European Union, namely on the content of Codes of Conduct to be drawn by institutions regarding the assessment of the existence of impediments to resolvability and the assessment of if an institution is likely to breach the requirements of Directive 2006/48/EC, failing or likely to fail.
Amendment 169 #
Proposal for a directive Recital 16 a (new) (16a) Recovery plans shall provide for measures to be taken by the management of the institution when the competent authority adopts measures of early intervention.
Amendment 170 #
Proposal for a directive Recital 16 b (new) (16b) In case of group recovery plans, the potential impact of the recovery measures in all the Member States where the group operates shall be specifically taken into account in the drawing up of the plans.
Amendment 175 #
Proposal for a directive Recital 18 (18) Resolution planning is an essential component of effective resolution. Authorities should have all the information necessary in order to plan how the essential functions of an institution or of a cross- border group may be isolated from the rest of the business and transferred in order to ensure the preservation and continuance of essential functions. The requirement to prepare a resolution plan should, however, be simplified, reflecting the systemic importance of the institution or group, or even waived, if the failure of a particular institution, due to the nature of its business, its size or its interconnectedness to other institutions or to the financial system in general, is deemed to not have a detrimental effect on financial markets, on other institutions or on funding conditions. Resolution plans shall, where applicable, respect existing collective agreements as well as national and European legal provisions on the involvement of trade unions and workers’ representatives in company restructuring processes.
Amendment 177 #
Proposal for a directive Recital 18 a (new) (18a) Due to the privileged knowledge by the institution on its own functioning and any problems arising from it, resolution plans shall be drawn by resolution authorities in close cooperation with the institutions.
Amendment 179 #
Proposal for a directive Recital 18 b (new) (18b) The resolution plans shall be revised or updated whenever needed; for that purpose, the institutions and the competent authorities shall communicate immediately to the resolution authorities any change that imposes a revision or update of the resolution plan.
Amendment 180 #
Proposal for a directive Recital 18 c (new) (18c) In case of group resolution plans, the potential impact of the resolution measures in all the Member States where the group operates shall be specifically taken into account in the drawing up of the plans. The resolution authorities of the Member States where the group operates shall be involved in the drawing up of the plan.
Amendment 187 #
Proposal for a directive Recital 21 a (new) (21a) Regarding the sensitiveness of the information contained in them, the recovery and the resolution plans are confidential.
Amendment 188 #
Proposal for a directive Recital 21 b (new) (21b) The competent authorities shall transmit the recovery plans and any changes thereto to the relevant resolution authorities, and the latter shall transmit the resolution plans and any changes thereto to the former, in order to permanently keep every relevant authority fully informed.
Amendment 189 #
Proposal for a directive Recital 21 c (new) (21c) Considering the essentiality of the drawing up of recovery and resolution plans to the application of the framework established by this Directive, institutions shall submit their recovery plans to competent authorities and resolution authorities shall draw up resolution plans in six months from the date of the entry into force of the regulatory technical standards that EBA will develop on the content of those plans, notwithstanding the transposition date being only 31 December 2014.
Amendment 192 #
Proposal for a directive Recital 23 (23) In order to preserve financial stability, it is important that competent authorities be able to remedy the deterioration of an institution’s financial and economic situation before that institution reaches a point at which authorities have no other alternative than to resolve it. To this end, competent authorities should be granted early intervention powers,
Amendment 195 #
Proposal for a directive Recital 24 (24) The resolution framework should provide for timely entry into resolution before a financial institution is balance- sheet insolvent and before all equity has been fully wiped out. Resolution should be initiated when a firm is no longer viable or likely to be no longer viable and other measures have proved insufficient to prevent failure. The fact that an institution does not meet the requirements for authorization should not justify per-se the entry into resolution, especially if the institution is still or likely to be still viable. An institution should be considered as failing or likely to fail, by a determination of the resolution authority in consultation with the competent authority, when it is or is to be in breach of the capital requirements for continuing authorisation because it has incurred or is likely to incur in losses that are to deplete all or substantially all of its own funds, when the assets of the institution are or are to be less than its liabilities, when the institution is or is to be unable to pay its obligations as they fall due, or when the institution requires extraordinary public financial support. The need for emergency liquidity assistance from a central bank should not in itself be a condition that sufficiently demonstrates that an institution is or will be, in the near- term, unable to pay its liabilities as they fall due. In order to preserve financial stability, in particular in case of a systemic liquidity shortage, State guarantees on liquidity facilities provided by central banks or State guarantees on newly issued liabilities should not trigger the resolution framework provided that a number of conditions are met. In particular the State guarantee measures should to be approved under the State aid framework and should not be part of a larger aid package, and the use of the guarantee measures should be strictly limited in time. In both instances, the bank needs to be solvent.
Amendment 197 #
Proposal for a directive Recital 24 a (new) (24a) In case of resolution of an institution or of a group with cross-border activity, the determination by the resolution authority that the institution is failing or likely to fail as well as any resolution action shall take into account the potential impact of the resolution in all the Member States where the institution or the group operate.
Amendment 202 #
Proposal for a directive Recital 29 (29) When applying resolutions tools and exercising resolution powers, according to the resolution plan where appropriate and subject to proper justification, resolution authorities should make sure that shareholders and creditors bear an appropriate share of the losses, that the managers are replaced, that the costs of the resolution of the institution are minimised, and that all creditors of an insolvent institution that are of the same class are treated in a similar manner. When the use of the resolution tools involves the granting of State aid, interventions should have to be assessed in accordance with the relevant State aid provisions. State aid may be involved, inter alia, where resolution funds
Amendment 211 #
Proposal for a directive Recital 35 (35) The resolution tools should be applied before any public sector injection of capital or equivalent extraordinary public financial support to an institution. This, however, should not impede the use, for the purpose of financing resolution, of funds from the
Amendment 217 #
Proposal for a directive Recital 45 (45) In order to ensure that resolution authorities have the necessary flexibility to allocate losses to creditors in a range of circumstances, it is appropriate that those authorities be able to apply the bail-in tool both where the objective is to resolve the failing institution as a going concern if there is a realistic prospect that the institution viability may be restored, and where systemically important services are transferred to a bridge institution and the residual part of the institution ceases to operate and is wound down. However, the resolution authorities should only use the bail-in tool when the evaluation of the use of the other resolution tools reveals they are insufficient to restore the viability of the institution.
Amendment 222 #
Proposal for a directive Recital 47 (47) It is not appropriate to apply the bail- in tool to claims in so far as they are secured, collateralised or otherwise guaranteed. However, in order to ensure that the bail-in tool is effective and achieves its objectives, it is desirable that it can be applied to as wide a range of the unsecured liabilities of a failing institution as possible. Nevertheless, it is appropriate to exclude certain kinds of unsecured liability from the scope of application of the bail-in tool. For reasons of public policy and effective resolution, the bail-in tool should not apply
Amendment 223 #
Proposal for a directive Recital 47 a (new) (47a) Considering the risks of contagion, liabilities arising from interbank money- market operations with an original maturity of less than one month and from derivatives which were entered by the institution to hedge risks are also excluded from bail-in.
Amendment 224 #
Proposal for a directive Recital 48 (48)
Amendment 225 #
Proposal for a directive Recital 48 a (new) (48a) Additionally, the credits of deposit guarantee schemes are also not susceptible to bail-in, and in case of insolvency proceedings the claims of depositors and of deposit guarantee schemes which were subrogated to the claims of depositors by virtue of payments made to depositors up to the amount of their guaranteed deposits under the scheme are granted a preferential claim so as to have a higher priority ranking over the claims of ordinary unsecured creditors in the event of insolvency of the credit institution.
Amendment 235 #
Proposal for a directive Recital 54 (54) It is not necessary to prescribe the exact means through which the resolution authorities should intervene in the insolvent institution. The resolution authorities should have the choice between taking control through a direct intervention in the institution or through executive order. They should decide according to the resolution plan and to the circumstances of the case. It does not appear necessary for efficient cooperation between Member States to impose a single model at this stage.
Amendment 252 #
Proposal for a directive Recital 74 (74) While financing arrangements are set up at national level, they should be mutualised in the context of group resolution.
Amendment 253 #
Proposal for a directive Recital 74 a (new) (74a) Member States should design their financial arrangements envisaging their possible future merger, partial or total, into a European Resolution Fund.
Amendment 254 #
Proposal for a directive Recital 75 Amendment 257 #
Proposal for a directive Recital 82 (82) When preparing and drawing up delegated acts, the Commission should ensure the early and on-going transmission of information on relevant documents to the European Parliament and the Council.
Amendment 261 #
Proposal for a directive Title I SCOPE, DEFINITIONS
Amendment 298 #
Proposal for a directive Article 2 – paragraph 1 – point 41 (41) ‘debt instruments’ referred to in points (d), (i), (l) and (m) of Article 56(1) means bonds and other forms of transferable debt, any instrument creating or acknowledging a debt, and instruments giving rights to acquire debt instruments;
Amendment 312 #
Proposal for a directive Article 3 – paragraph 1 1. Each Member States shall designate one
Amendment 316 #
Proposal for a directive Article 3 – paragraph 2 2. Resolution authorities shall be public administrative authorities endowed with administrative and financial independence.
Amendment 321 #
Proposal for a directive Article 3 – paragraph 3 3. Resolution authorities may be the competent authorities for supervision for the purposes of Directives 2006/48/EC and 2006/49/EC, central banks, competent ministries or other public administrative authorities, provided that Member States adopt rules and arrangements necessary to avoid conflicts of interest between the functions of supervision pursuant to Directives 2006/48/EC and 2006/49/EC or the other functions of the relevant authority and the functions of resolution authorities pursuant to this Directive. In particular, Member States shall ensure that, within the competent authorities, central banks, competent ministries or other public administrative authorities there is a separation between the resolution function and the supervisory or other functions of the relevant authority and that there are different decision taking bodies for the supervision functions and for the resolution functions.
Amendment 324 #
Proposal for a directive Article 3 – paragraph 4 Amendment 328 #
Proposal for a directive Article 3 – paragraph 5 5. Where the designated authority in accordance with paragraph 1 is not the competent ministry in a Member State, any decision of the designated authority pursuant to this Directive
Amendment 339 #
Proposal for a directive Article 3 – paragraph 7 Amendment 343 #
Proposal for a directive Article 3 – paragraph 8 8. Member States shall inform European Banking Authority (EBA) of the national authority
Amendment 348 #
Proposal for a directive Article 3 a (new) Article 3 a Cooperation 1. Where the resolution authority and the competent authority pursuant to Directive 2006/48/EC are separate entities, Member States shall require that they cooperate closely in the preparation, planning and application of resolution decisions. 2. Where the institution exercises any investment services or activities as defined in Article 4(1)(2) of Directive 2004/39/EC, the competent authority and the resolution authority shall consult the competent authority as defined in Article 4(1)(22) of that Directive on any early intervention measure and on any resolution action before it is taken and, where the consultation is not possible, keep the competent authority as defined in Article 4(1)(22) of that Directive informed.
Amendment 350 #
Proposal for a directive Article 3 b (new) Article 3 b Institutions with cross-border activity Decisions taken by competent authorities, resolution authorities and the EBA throughout this Directive shall take into account the potential impact of the decision in all the Member States where the institution or the group operate and preserve financial stability and minimise economic and social effects in those Member States.
Amendment 370 #
Proposal for a directive Article 4 – paragraph 1 a (new) 1a. Member States shall ensure that when resolution authorities, in consultation with competent authorities, consider that the failure of a particular institution, due to the nature of its business, its size or its interconnectedness to other institutions or to the financial system in general, will not have a detrimental effect on financial markets, on other institutions or on funding conditions, the resolution authority is waived of the obligation to draw up a resolution plan according to article 9(1).
Amendment 376 #
Proposal for a directive Article 4 – paragraph 2 2. The Commission shall be empowered to adopt delegated acts in accordance with Article 103 in order to specify the criteria referred to in paragraphs 1 and 1a, for assessing, in accordance with paragraphs 1 and 1a, the impact of an institution failure on financial markets, on other institutions and on funding conditions.
Amendment 381 #
Proposal for a directive Article 4 – paragraph 3 a (new) 3a. The plans referred to in Articles 5, 7, 9 and 11 of this Directive are confidential and shall not be revealed to anyone except to the competent authorities and the resolution authorities according to this Directive.
Amendment 382 #
Proposal for a directive Article 4 a (new) Article 4 a Scenarios to be used when drawing up recovery and resolution plans EBA, in consultation with the European Systemic Risk Board (ESRB), shall develop draft technical standards specifying scenarios to be used for the purposes of Article 5(5) and 9(2). EBA shall submit those draft regulatory technical standards to the Commission within twelve months from the date of entry into force of this Directive. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 404 #
Proposal for a directive Article 5 – paragraph 4 – subparagraph 1 a (new) Recovery plans shall provide for measures to be taken by the management of the institution when the competent authority adopts measures of early intervention according to Article 22.
Amendment 409 #
Proposal for a directive Article 5 – paragraph 5 5. The competent authorities shall ensure that institutions include in recovery plans appropriate conditions and procedures to ensure the timely implementation of recovery actions as well as a wide range of recovery options. Competent authorities shall ensure that
Amendment 414 #
Proposal for a directive Article 5 – paragraph 6 Amendment 425 #
Proposal for a directive Article 6 – paragraph 1 1. Member States shall require institutions to submit recovery plans to the competent authorities for review within not more than six months from the date of the entry into force of the regulatory technical standards referred to in Articles 4a and 5(7).
Amendment 427 #
Proposal for a directive Article 6 – paragraph 2 – introductory part 2. The competent authorities shall, within not more than three months from the submission, review those plans and assess the extent to which each plan satisfies the requirements set out in Article 5 and the following criteria:
Amendment 429 #
Proposal for a directive Article 6 – paragraph 2 – point a (a) the implementation of the arrangements proposed in the plan would be likely to restore the viability and financial soundness of the institution, taking into account the preparatory measures that the institution has
Amendment 430 #
Proposal for a directive Article 6 – paragraph 2 – point b (b) the plan or specific options could be implemented effectively in situations of financial stress and without causing any significant adverse effect on the financial system
Amendment 470 #
Proposal for a directive Article 7 – paragraph 2 2. The consolidating supervisor shall transmit the group recovery plans to the relevant competent authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC and to EBA.
Amendment 477 #
Proposal for a directive Article 7 – paragraph 3 – subparagraph 2 a (new) The potential impact of the recovery measures in all the Member States where the group operates shall be specifically taken into account in the drawing up of the group recovery plan.
Amendment 495 #
Proposal for a directive Article 8 – paragraph 1 – subparagraph 2 The consolidating supervisor shall carry out the review and assessment of the group recovery plan, including the recovery plans for individual institutions that are part of the group, in consultation and cooperation with the competent authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC. The review and assessment in accordance with Article 6(2) of this Directive of the group recovery plan and, if necessary, the request to take measures in accordance with Article 6(4) of this Directive shall take the form of joint decisions by the authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC, which will take into account the potential impact of the recovery measures in all the Member States where the group operates.
Amendment 519 #
Proposal for a directive Article 8 a (new) Article 8a Transmission of the recovery plans to the resolution authorities 1. The competent authority shall transmit the recovery plans and any changes thereto to the relevant resolution authorities. 2. Group recovery plans shall be transmitted according to the previous paragraph by the consolidating supervisor.
Amendment 528 #
Proposal for a directive Article 9 – paragraph 1 1. Resolution authorities, in consultation with competent authorities
Amendment 530 #
Proposal for a directive Article 9 – paragraph 1 a (new) 1a. When drawing up the resolution plan, the resolution authority shall identify any impediments to resolvability and, where appropriate, exercise the preventive powers to remove those impediments, according to Chapter II of the present Title.
Amendment 536 #
Proposal for a directive Article 9 – paragraph 3 3. Resolution plans shall be reviewed, and where appropriate updated, at least annually and after any material changes to the legal or organisational structure of the institution or to its business or its financial situation that could have a material effect on the effectiveness of the plan or otherwise imposes a change to the resolution plan.
Amendment 538 #
Proposal for a directive Article 9 – paragraph 3 – subparagraph 1 (new) For the purpose of the revision or update of the resolution plans according to the previous subparagraph, the institutions and the competent authorities shall communicate immediately to the resolution authorities any change that imposes a revision or update of the resolution plan.
Amendment 548 #
Proposal for a directive Article 9 – paragraph 4 – point m a (new) (ma) an analysis of the impact of the plan on the employees of the institution and a description of envisaged measures for establishing procedures to consult with staff during the resolution process, taking into account national systems for dialogue with social partners where applicable;
Amendment 550 #
Proposal for a directive Article 9 – paragraph 5 Amendment 558 #
Proposal for a directive Article 10 – title Information for the purpose of resolution plans and cooperation from the institution
Amendment 560 #
Proposal for a directive Article 10 – paragraph 3 a (new) 3a. Member States shall ensure that resolution authorities have the power to require institutions all the cooperation necessary to draw up resolution plans.
Amendment 585 #
Proposal for a directive Article 11 – paragraph 3 a (new) 3a. The potential impact of the resolution in all the Member States where the group operates shall be specifically taken into account in the drawing up of the group resolution plan.
Amendment 594 #
Proposal for a directive Article 12 – paragraph 4 – subparagraph 1 The group resolution plan shall take the form of a joint decision of the group level resolution authority and the other relevant resolution authorities, which will take into account the potential impact of the resolution in all the Member States where the group operates. The resolution authorities shall make a joint decision within a period of
Amendment 600 #
Proposal for a directive Article 12 – paragraph 4 – subparagraph 2 In the absence of such a joint decision between the resolution authorities within
Amendment 611 #
Proposal for a directive Article 12 – paragraph 5 5. A resolution authority that disagrees with any element of the group resolution plan may refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. The matter may not be referred to EBA after the end of the
Amendment 615 #
Proposal for a directive Article 12 – paragraph 6 6. EBA shall take a decision within one month, and the
Amendment 619 #
Proposal for a directive Article 12 a (new) Article 12a Transmission of the resolution plans to the competent authorities 1. The resolution authority shall transmit the resolution plans and any changes thereto to the relevant competent authorities. 2. Group resolution plans shall be transmitted according to the previous paragraph by the group level resolution authority.
Amendment 622 #
Proposal for a directive Article 13 – paragraph 1 1. Member States shall ensure that resolution authorities, in order to draw up the resolution plans referred to in Section 3 of Chapter I of the present Title and in consultation with competent authorities, assess the extent to which institutions and groups are resolvable without the assumption of extraordinary public financial support besides the use of the financing arrangements established in accordance with Article 91. An institution or group shall be deemed resolvable if it is feasible and credible for the resolution authority to either liquidate it under normal insolvency proceedings or to resolve it by applying the different resolution tools and powers to the institution and group without giving rise to significant adverse consequences for the financial systems, including in circumstances of broader financial instability or system wide events, of the Member State in which the institution is situated, having regard to the economy or financial stability in that same or other Member State or the Union and with a view to ensure the continuity of critical functions carried out by the institution or group either because they can be easily separated in a timely manner or by other means.
Amendment 633 #
Proposal for a directive Article 14 – paragraph 1 1. Member States shall ensure that when, pursuant to an assessment of resolvability carried out in accordance with Article 13, a resolution authority, in consultation with the competent authority and the institution, determines that there are potential substantive impediments to the resolvability of an institution, the resolution authority shall notify in writing that determination to the institution.
Amendment 635 #
Proposal for a directive Article 14 – paragraph 1 a (new) 1a. The periods, respectively of six and eight months, referred to in Articles 9(1) and 12(4) are suspended since the notification referred to in the previous paragraph until the effective removal of any impediments to resolvability.
Amendment 641 #
Proposal for a directive Article 14 – paragraph 3 3. Where the resolution authority assesses that the measures proposed by an institution in accordance with paragraph 2 do not effectively reduce or remove the impediments in question, it shall, where necessary and proportionate and in consultation with the competent authorities, identify alternative measures that may achieve that objective, and notify in writing those measures to the institution.
Amendment 644 #
Proposal for a directive Article 14 – paragraph 3 a (new) 3a. Member States shall ensure that the resolution authority, in consultation with the competent authority, draws up a Code of Conduct on the assessment of resolvability which includes the principles and criteria on the resolution authority's measures to proceed to a removal of impediments to resolvability.
Amendment 645 #
Proposal for a directive Article 14 – paragraph 3 b (new) 3b. EBA shall develop draft implementing technical standards for specifying the content of the Code of Conduct referred to in the previous paragraph. EBA shall submit those draft implementing technical standards to the Commission within twelve months from the date of entry into force of this Directive. Power is delegated to the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010.
Amendment 678 #
Proposal for a directive Article 14 – paragraph 6 a (new) 6a. Member States shall ensure that institutions that are affected by measures decided by resolution authorities accordingly to this Article have appropriate rights of appeal of those decisions, namely the right of judicial review.
Amendment 692 #
Proposal for a directive Article 15 – paragraph 1 1. The group level resolution authorities and the resolution authorities of the subsidiaries and of the Member States where institutions have relevant branches, in consultation with the relevant competent authorities, shall consult each other within the resolution college and shall take all reasonable steps to reach a joint decision in regards to the application of measures identified in accordance with Article 14(3).
Amendment 698 #
Proposal for a directive Article 15 – paragraph 2 2. The group level resolution authority, in cooperation with the consolidating supervisor and EBA in accordance with Article 25(1) of Regulation (EU) No 1093/2010, shall prepare and submit a report to the parent undertakings or institution subject to consolidated supervision and to the resolution authorities of the subsidiaries, which will provide it to the subsidiaries under their supervision, and of the Member States where institutions have relevant branches. The report shall be prepared in consultation with the competent authorities, and shall analyse the substantive impediments to the effective application of the resolution tools and the exercising of the resolution powers in relation to the group. The report shall also recommend any measures that, in the authorities' view, are necessary or appropriate to remove those impediments.
Amendment 703 #
Proposal for a directive Article 15 – paragraph 4 4. The group level resolution authority shall communicate any measure proposed by the parent undertakings or institution subject to consolidated supervision to the consolidating supervisor, EBA and the resolution authorities of the subsidiaries and of the Member States where institutions have relevant branches. The group level resolution authorities and the resolution authorities of the subsidiaries and of the Member States where institutions have relevant branches, in consultation with the competent authorities, shall do everything within their power to reach a joint decision within the resolution college regarding the identification of the material impediments, and if necessary, the assessment of the measures proposed by the parent undertakings or institution subject to consolidated supervision and the measures required by the authorities in order to address or remove the impediments, which will take into account the potential impact of the measures in all the Member States where the group operates.
Amendment 738 #
Proposal for a directive Article 16 – paragraph 1 1. In order to overcome potential legal impediments to provide financial support within a group of institutions, Member States shall ensure that a parent institution in a Member State, or a Union parent institution, or a company referred to in points (c) and (d) of Article 1and its subsidiaries that are institutions or financial institutions covered by the supervision of the parent undertaking, may enter into an agreement to provide financial support to any other party to the agreement that experiences financial difficulties, provided that the conditions laid down in this chapter are satisfied. The provisions in this Chapter shall not restrict the operation of centralised funding within a group of institutions in normal circumstances.
Amendment 742 #
Proposal for a directive Article 16 – paragraph 5 5. The agreement may only be concluded if, at the time the proposed agreement is made, in the opinion of the
Amendment 748 #
Proposal for a directive Article 17 – title Review of proposed agreement by
Amendment 751 #
Proposal for a directive Article 17 – paragraph 4 4. The competent authorities shall do everything within their power to reach a joint decision, which will take into account the potential impact of the execution of the agreement in all the Member States where the group operates, on whether the terms of the proposed agreement are consistent with the conditions for financial support set out in Article 19 within four months from the date of receipt of the application by the consolidating supervisor. The joint decision shall be set out in a document containing the fully reasoned decision, which shall be provided to the applicant by the consolidating supervisor.
Amendment 767 #
Proposal for a directive Article 18 – paragraph 1 1. Member States may require that any proposed agreement that has been authorised by the competent authorities be submitted for approval to the shareholders meeting of every group entity that proposes to enter into the agreement. In this case, the agreement shall be valid only in respect of those parties whose shareholders' meeting has approved the agreement and after the new authorisation referred to in the next subparagraph. If the agreement that has been authorised by the competent authority is not approved by the shareholders meetings of every group entity which was entering into that agreement, the institutions referred to in Article 17(1) shall submit to the consolidating supervisor an application for authorisation of the agreement as duly amended. Subparagraphs 1 and 2 of this paragraph shall apply to the new agreement. Where competent authorities assess that the fact that the initially proposed agreement was not approved by the shareholders meetings of every group entity which was entering into that agreement deems the introduction of changes to the agreement that the institutions have not introduced, the consolidating supervisor shall require the applicant to submit, within two months, a revised proposed agreement for new authorisation. Subparagraphs 1, 2 and 3 of this paragraph shall apply to the new application and the new agreement.
Amendment 771 #
Proposal for a directive Article 18 a (new) Article 18a Transmission of the group financial support agreements to resolution authorities Competent authorities shall transmit to the relevant resolution authorities the group financial support agreements they authorised and any changes thereto.
Amendment 789 #
Proposal for a directive Article 21 – paragraph 3 3. The competent authority shall immediately inform EBA, the consolidating supervisor and the competent authorities participating in the colleges of supervisors identified in Article 131a of Directive 2006/48/EC, of its decision to prohibit or restrict the financial support.
Amendment 793 #
Proposal for a directive Article 21 – paragraph 4 4. Where the consolidating supervisor or the competent authority responsible for the entity receiving support has objections regarding the decision to prohibit or restrict the financial support, they may, within two days, refer the matter to EBA and request its assistance in accordance with Article 19 of Regulation 1093/2010. In that case, EBA may act in accordance with the powers conferred on it by that Article. By way of derogation from the time limit provided for by Article 39, paragraph 1 of Regulation 1093/2010, EBA shall take any decision in accordance with Article 19(3) of Regulation 1093/2010 within
Amendment 795 #
Proposal for a directive Article 21 – paragraph 5 a (new) 5a. The decision to provide financial support which is not prohibited or restricted by the competent authority and the competent authority's decisions to prohibit or restrict the financial support shall be transmitted by competent authorities to the relevant resolution authorities.
Amendment 817 #
Proposal for a directive Article 23 – paragraph 1 – point b (b) where necessary beyond the content of the recovery plan, require the management of the institution to examine the situation, identify measures to overcome any problems identified and draw up an action program to overcome those problems and a timetable for its implementation;
Amendment 818 #
Proposal for a directive Article 23 – paragraph 1 – point c (c) require the management of the institution to convene, or if the management fails to comply with this requirement convene directly, the shareholders meeting of the institution, propose the agenda and the adoption of certain decisions according to the recovery plan or to the action programme referred to in point (b), or, where necessary, other decisions;
Amendment 822 #
Proposal for a directive Article 23 – paragraph 1 – point d (d) require the management of the institution to remove and replace one or more board members or managing directors if these persons are found unfit to perform their duties pursuant to Article 11 of Directive 2006/48/EC, or in cases of fraud or proven bad management;
Amendment 826 #
Proposal for a directive Article 23 – paragraph 1 – point e (e) require the management of the institution to draw up a plan for negotiation on restructuring of debt with some or all of its creditors, according to the recovery plan;
Amendment 829 #
Proposal for a directive Article 23 – paragraph 1 – point f (f) acquire, including through on-site inspections, all the information necessary to update the resolution plan in order to prepare for the eventual resolution of the institution, including carrying out an evaluation of the assets and liabilities of the institution
Amendment 832 #
Proposal for a directive Article 23 – paragraph 1 – point g Amendment 834 #
Proposal for a directive Article 23 – paragraph 1 a (new) 1a. Member States shall ensure that the competent authority draws up a Code of Conduct on the assessment whether if the institution is likely to breach the requirements of Directive 2006/48/EC.
Amendment 836 #
Proposal for a directive Article 23 – paragraph 1 b (new) 1b. EBA shall develop draft implementing technical standards for specifying the content of the Code of Conduct referred to in the previous paragraph. EBA shall submit those draft implementing technical standards to the Commission within twelve months from the date of entry into force of this Directive. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010.
Amendment 850 #
Proposal for a directive Article 24 – paragraph 1 1. Where there is a significant deterioration in the financial situation of an institution or where there are serious violations of law, regulations or bylaws or serious administrative irregularities, and other measures taken in accordance with Article 23 are not sufficient to reverse that deterioration, in such terms that, if no action is taken, the resolution authority would in the near future have to determine, according to Article 27, that the institution is failing or likely to fail, Member States shall ensure that competent authorities may, in consultation with resolution authorities, appoint a special manager to replace the management of the institution. Competent authorities shall make public the appointment of a special manager. Member States shall further ensure that the special manager has the qualifications, ability and knowledge required to carry out his or her functions.
Amendment 868 #
Proposal for a directive Article 25 – paragraph 2 – subparagraph 2 The assessment shall take the form of a joint decision of the consolidating supervisor and the other relevant competent authorities, which will take into account the potential impact of the measure in all the Member States where the group operates. The joint decision shall be reached within five days from the date of the notification referred to in paragraph 1. The joint decision shall be reasoned and set out in a document, which shall be provided by the consolidating supervisor to the parent undertaking or institution that is subject to consolidated supervision.
Amendment 875 #
Proposal for a directive Article 25 – paragraph 4 a (new) 4a. Before taking their own decisions in accordance with paragraph 4, the competent authorities shall consult EBA. The decision shall consider the advice of EBA and explain any significant deviation from that advice.
Amendment 879 #
Proposal for a directive Article 25 – paragraph 6 Amendment 886 #
Proposal for a directive Article 26 – paragraph 2 – point b (b) to avoid
Amendment 893 #
Proposal for a directive Article 26 – paragraph 2 – point e (e) to protect depositors
Amendment 904 #
Proposal for a directive Article 27 – paragraph 1 a (new) 1a. The previous adoption of an early intervention measure according to Article 23 is not a condition to take a resolution action.
Amendment 908 #
Proposal for a directive Article 27 – paragraph 1 – point a (a) the
Amendment 928 #
Proposal for a directive Article 27 – paragraph 3 a (new) 3a. Member States shall ensure that the competent authority draws a Code of Conduct on the assessment of if the institution is failing or likely to fail.
Amendment 930 #
Proposal for a directive Article 27 – paragraph 3 b (new) 3b. EBA shall develop draft implementing technical standards for specifying the content of the Code of Conduct referred to in the previous paragraph. EBA shall submit those draft implementing technical standards to the Commission within twelve months from the date of entry into force of this Directive. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010.
Amendment 931 #
Proposal for a directive Article 27 – paragraph 4 Amendment 935 #
Proposal for a directive Article 27 – paragraph 5 Amendment 940 #
Proposal for a directive Article 28 – paragraph 1 1. Member States shall ensure that resolution authorities may take a resolution action in relation to a financial institution or firm referred to in point (b) of Article 1, when the conditions specified in Article 27(1)
Amendment 941 #
Proposal for a directive Article 28 – paragraph 2 2. Member States shall ensure that resolution authorities shall take a resolution action in relation to a company referred to in points (c) or (d) of Article 1, when the conditions specified in Article 27(1) are met with regard to both the company referred to in points (c) or (d) of Article 1 and with regard to one or more subsidiaries which are institutions, provided that any group financial support agreements foreseen in Chapter III of Title II or any other possible form of group financial support is able to cease the conditions specified in Article 27(1) with regard to the company referred to in points (c) or (d) of Article 1.
Amendment 944 #
Proposal for a directive Article 29 – paragraph 1 – point a (a) the
Amendment 945 #
Proposal for a directive Article 29 – paragraph 1 – point a a (new) (aa) the shareholders of the institution under resolution bear first losses;
Amendment 948 #
Proposal for a directive Article 29 – paragraph 1 – point b (b) creditors of the institution under resolution, excluding depositors, bear losses after the shareholders in accordance with the order of priority of their claims pursuant to this Directive;
Amendment 959 #
Proposal for a directive Article 29 – paragraph 1 – point f a (new) (fa) claims of depositors are adequately protected.
Amendment 964 #
Proposal for a directive Article 29 – paragraph 1 a (new) 1a. For the purposes of paragraph 1(fa), Member States shall ensure that the claims of depositors are granted a preferential claim so as to have a higher priority ranking over the claims of ordinary unsecured creditors in the event of insolvency of the credit institution.
Amendment 965 #
Proposal for a directive Article 29 – paragraph 1 b (new) 1b. Member States shall ensure that when Deposit Guarantee Schemes are subrogated to the claims of depositors by virtue of payments made to depositors up to the amount of their guaranteed deposits under the scheme, the preferential claim as established in the previous paragraph is also applicable.
Amendment 966 #
Proposal for a directive Article 29 – paragraph 1 c (new) 1c. Member States shall require that, where an institution meets the conditions for resolution and the resolution authority decides to apply a resolution tool foreseen in Chapter III of this Title to that institution, before any resolution action is taken resolution authorities exercise the write down power in accordance with the provisions of Articles 51 and 52 in relation to relevant capital instruments issued by an institution without delay.
Amendment 977 #
Proposal for a directive Article 30 – paragraph 1 1. Before taking resolution action and in particular, for the purposes of Articles
Amendment 992 #
Proposal for a directive Article 30 – paragraph 5 5. Where due to the urgency in the circumstances of the case, it is not possible to comply with the requirements laid down in paragraphs 3 and 4, the valuation either by an independent person or by a resolution authority shall be carried out in compliance with the requirements laid down in paragraph 2. That valuation shall be considered as provisional until the resolution authority
Amendment 1004 #
Proposal for a directive Article 31 – paragraph 1 1. Member States shall ensure that resolution authorities have the necessary powers to apply the resolution tools, according to the resolution plan where appropriate, to an institution, a financial institution or a company referred to in points (c) and (d) of Article 1 that meets the applicable conditions for resolution.
Amendment 1007 #
Proposal for a directive Article 31 – paragraph 7 Amendment 1013 #
Proposal for a directive Article 32 – paragraph 3 – subparagraph 2 Where
Amendment 1014 #
Proposal for a directive Article 32 – paragraph 9 9. Transfers made by virtue of the sale of business tool which involves the transfer of some, but not all, of the assets, rights or liabilities of an institution shall be subject to the safeguards for partial property transfers specified in Chapter VI.
Amendment 1017 #
Proposal for a directive Article 32 – paragraph 11 11. Shareholders
Amendment 1029 #
Proposal for a directive Article 34 – paragraph 7 7. Transfers made by virtue of the bridge institution tool which involves the transfer of some, but not all, of the assets, rights or liabilities of an institution shall be subject to the safeguards for partial property transfers specified in Chapter
Amendment 1032 #
Proposal for a directive Article 34 – paragraph 9 9. Shareholders
Amendment 1035 #
Proposal for a directive Article 34 – paragraph 9 a (new) 9 a. The objectives of the managers of the bridge institution shall not imply any duty or responsibility to the shareholders of the institution under resolution, and the managers shall have no liability to those shareholders arising from action taken or not taken in discharge or purported discharge of their functions unless the act or omission implies gross negligence or serious misconduct in accordance with national law.
Amendment 1036 #
Proposal for a directive Article 35 – paragraph 1 – point a (a) the contents of the bridge institution's
Amendment 1042 #
Proposal for a directive Article 35 – paragraph 3 – point c (c) the assumption of all or substantially all of its assets, rights or liabilities by a
Amendment 1047 #
Proposal for a directive Article 35 – paragraph 7 – subparagraph 3 Member States
Amendment 1050 #
Proposal for a directive Article 36 – paragraph 8 8. Transfers between the institution under resolution and the asset management vehicle shall be subject to the safeguards for partial property transfers specified in
Amendment 1073 #
Proposal for a directive Article 37 – paragraph 3 a (new) 3 a. The resolution authorities shall be able to use the bail-in tool for the purposes referred to in the first paragraph only when the evaluation of the use of the other resolution tools referred to in Article 31(2), either when applied per-se or in conjunction, reveals they are insufficient to restore the viability of the institution.
Amendment 1081 #
Proposal for a directive Article 38 – paragraph 2 – subparagraph 1 – point a (a) all deposits
Amendment 1104 #
Proposal for a directive Article 38 – paragraph 2 – subparagraph 1 – point d (d) liabilities arising from interbank money-market operations with an original maturity of less than one month;
Amendment 1111 #
Proposal for a directive Article 38 – paragraph 2 – subparagraph 1 – point e a (new) (e a) liabilities arising from derivatives which were entered by the institution to hedge risks;
Amendment 1112 #
Proposal for a directive Article 38 – paragraph 2 – subparagraph 1 – point e b (new) (e b) liabilities towards Deposit Guarantee Schemes.
Amendment 1120 #
Proposal for a directive Article 38 – paragraph 2 – subparagraph 2 Point
Amendment 1129 #
Proposal for a directive Article 38 – paragraph 3 Amendment 1138 #
Proposal for a directive Article 38 – paragraph 4 Amendment 1155 #
Proposal for a directive Article 39 – paragraph 1 1. Member States shall ensure that the institutions maintain, at all times, a sufficient aggregate amount of own funds and eligible liabilities
Amendment 1161 #
Proposal for a directive Article 39 – paragraph 1 a (new) 1 a. EBA shall develop draft regulatory technical standards to specify the assessment of the criteria on how to determinate for each institution the sufficient aggregate amount referred to in the previous paragraph. EBA shall submit those draft regulatory technical standards to the Commission within twelve months from the date of entry into force of this Directive. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 1170 #
Proposal for a directive Article 39 – paragraph 3 – introductory part 3. The minimum aggregate amount pursuant to paragraph 1 shall be determined by the resolution authority within six months from the entry into force of this Directive on the basis of the following criteria:
Amendment 1175 #
Proposal for a directive Article 39 – paragraph 3 – point d Amendment 1196 #
Proposal for a directive Article 39 – paragraph 7 7. The Commission shall, by means of delegated acts in accordance with Article 103, adopt measures to specify the criteria provided for in points (a) to (e) of paragraph 3 with possible references to different categories of institutions
Amendment 1204 #
Proposal for a directive Article 40 – paragraph 1 – point a (a) the
Amendment 1218 #
Proposal for a directive Article 42 – paragraph 3 3. When considering which action to take in accordance with paragraph 1, resolution authorities shall have regard to the likely amount of losses relative to assets before the exercise of the bail-in tool, with a view to ensuring that the action taken in respect of shareholders is consistent with that reduction in equity value
Amendment 1221 #
Proposal for a directive Article 42 – paragraph 5 5. EBA shall develop guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, on the circumstances in which each of the actions referred to in paragraph 1 would be appropriate, having regard to the factors specified in paragraph
Amendment 1223 #
Proposal for a directive Article 42 – paragraph 6 6. The Commission, taking into account, where appropriate, the experience acquired in the application of EBA guidelines, may adopt delegated acts in accordance with Article 103 aimed at specifying the circumstances in which each of the actions mentioned in paragraph 1 would be appropriate, having regard to the factors specified in paragraph
Amendment 1225 #
Proposal for a directive Article 43 – paragraph 1 – point b (b) if, and only if, the writing down pursuant to point (a) is less than the aggregate amount, authorities reduce to zero the principal amount of Additional Tier 1 instruments that are liabilities and Tier 2 instruments in accordance with sub- section 2, in conjunction with the write down pursuant to point (a) to produce the aggregate amount;
Amendment 1231 #
Proposal for a directive Article 43 – paragraph 1 – point d (d) if, and only if, the total reduction of liabilities pursuant to points (a), (b)
Amendment 1233 #
Proposal for a directive Article 43 – paragraph 2 2. When applying the write down and conversion powers in compliance with points (c) and (d) of paragraph 1, resolution authorities shall allocate the losses represented by the aggregate amount equally between liabilities of the same rank by reducing the principal amount of, or outstanding amount payable in respect of, those liabilities to the same extent pro rata to their value, unless departure from equal treatment is necessary for financial stability reasons, or to minimise overall losses for the benefit of creditors as a whole.
Amendment 1246 #
Proposal for a directive Article 45 – paragraph 4 – subparagraph 2 a (new) The Commission, taking into account, where appropriate, the experience acquired in the application of EBA guidelines, shall adopt delegated acts in accordance with Article 103 aimed at specifying how affected creditors may be appropriately compensated by means of the conversion rate, and the relative conversion rates that might be appropriate to reflect the priority of senior liabilities under applicable insolvency law.
Amendment 1267 #
Proposal for a directive Article 49 – paragraph 1 1. Member States shall, in appropriate cases, require institutions to maintain at all times sufficient authorised share capital so that, in the event that the resolution authority exercised the powers referred to in points (f), (g) and (h) of Article 56(1) in relation to an institution or its subsidiaries, the institution is not
Amendment 1270 #
Proposal for a directive Article 49 – paragraph 4 4. The provisions of this article are without prejudice to the amendments to Directives 77/91/EEC, 82/891/EEC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EU set out in Title
Amendment 1279 #
Proposal for a directive Article 52 – paragraph 1 – subparagraph 1 – point b (b) the principal amount of relevant capital instruments is reduced to
Amendment 1283 #
Proposal for a directive Article 52 – paragraph 1 – subparagraph 1 – point c (c) the reduction
Amendment 1284 #
Proposal for a directive Article 52 – paragraph 1 – subparagraph 1 – point e (e) no compensation is paid to any holder of the relevant capital instruments other than in accordance with paragraph
Amendment 1285 #
Proposal for a directive Article 52 – paragraph 2 – point d (d) the conversion rate that determines the number of Common Equity Tier 1 instruments that are provided in respect of each relevant capital instrument complies with the principles set out in Article 45 and any guidelines developed by EBA pursuant to Article 45(
Amendment 1286 #
Proposal for a directive Article 52 – paragraph 4 Amendment 1287 #
Proposal for a directive Article 53 – paragraph 1 – introductory part Provided that
Amendment 1288 #
Proposal for a directive Article 53 – paragraph 1 – point c (c)
Amendment 1289 #
Proposal for a directive Article 55 – paragraph 1 a (new) 1 a. When making a determination referred to in points (a), (b), (c) or (d) of Article 51(1) in the case of the resolution of an institution or of a group with cross- border activity, the appropriate authorities shall take into account the potential impact of the resolution in all the Member States where the institution or the group operate.
Amendment 1290 #
Proposal for a directive Article 56 – paragraph 1 – introductory part 1. Member States shall ensure that the resolution authorities have all the powers necessary to apply the resolution tools, according to the resolution plan where appropriate. In particular, the resolution authorities shall have the following resolution powers, which they shall be able to exercise singly or in conjunction, being the effective use of these powers subject to proper justification:
Amendment 1301 #
Proposal for a directive Article 59 – paragraph 6 – point c (c) the safeguards for partial transfers, as referred to in Chapter VI, in relation to assets, rights or liabilities referred to in paragraph 1 that are located in its territory or governed by the law of its territory.
Amendment 1303 #
Proposal for a directive Article 61 – paragraph 2 2. Any suspension under paragraph 1 shall not apply to
Amendment 1308 #
Proposal for a directive Article 63 – paragraph 7 – subparagraph 1 – introductory part EBA shall develop draft regulatory technical standards specifying the following elements for the purposes of paragraph
Amendment 1322 #
Proposal for a directive Article 67 – paragraph 1 1. Member States shall ensure that if the evaluation carried out under Article 66 determines that the shareholders and creditors referred to in Article 65
Amendment 1329 #
Proposal for a directive Article 73 – paragraph 1 Where a resolution authority purports to transfer or transfers all of the property, rights and liabilities of an institution to another entity, but the transfer is or may not be effective in relation to certain property because it is outside the Union, or to certain rights or liabilities because they are under the law of a territory outside the Union, the resolution authority shall not proceed to the transfer or, if it has already ordered the transfer, that transfer shall be void, and all property, rights and liabilities covered by the relevant arrangement specified in Article 69
Amendment 1330 #
Proposal for a directive Article 74 – paragraph 1 1. Member States shall require the management body of an institution to notify the competent authority and the resolution authority where they consider that the institution is failing or likely to fail, within the meaning specified in Article 27(2).
Amendment 1331 #
Proposal for a directive Article 74 – paragraph 2 2. Competent authorities shall inform the relevant resolution authorities of any measures they require an institution to take under Article 2
Amendment 1332 #
Proposal for a directive Article 74 – paragraph 3 – point e a (new) (e a) where the institution is an institution as defined in Article 2(b) of Directive 98/26/EC, the Commission, the ECB, the EBA, the ESMA, the EIOPA and the operators of the systems to which it participates;
Amendment 1334 #
Proposal for a directive Article 74 – paragraph 3 – point e b (new) (e b) where the institution is considered systemically important, the ESRB and macro-prudential authorities.
Amendment 1338 #
Proposal for a directive Article 74 – paragraph 7 – introductory part 7. A resolution authority shall publish a notice specifying the terms and period of
Amendment 1342 #
Proposal for a directive Article 75 – paragraph 2 – subparagraph 2 Amendment 1343 #
Proposal for a directive Article 75 – paragraph 3 3. The notification referred to in paragraph 2 shall include a copy of any order or instrument by which the relevant powers are exercised and indicate the date from which the
Amendment 1345 #
Proposal for a directive Article 75 – paragraph 4 – point b (b) on the website of the competent authority, if different from the resolution authority,
Amendment 1346 #
Proposal for a directive Article 75 – paragraph 5 5. The resolution authority shall ensure that the documents providing proof of the instruments referred to in paragraph 4 are sent to the known shareholders and creditors of the institution under resolution, if the latter's shares or instruments of ownership are not admitted to trading on a regulated market.
Amendment 1351 #
Proposal for a directive Article 76 – paragraph 1 – point d (d) employees or former employees of the authorities referred to in points (a) and (b), as well as individuals who provide or have provided any service, directly or indirectly, permanently or occasionally, related to the discharge of those authorities' duties;
Amendment 1353 #
Proposal for a directive Article 76 – paragraph 1 – point i a (new) (i a) employees or former employees of the entities referred to in points (f) to (i), as well as individuals who provide or have provided any service, directly or indirectly, permanently or occasionally, related to the exercise of those entities' activities;
Amendment 1354 #
Proposal for a directive Article 76 – paragraph 1 – point i b (new) (i b) the management appointed by the resolution authority to a bridge institution, asset management or other resolution vehicle and the employees or former employees of these entities, as well as individuals who provide or have provided any service, directly or indirectly, permanently or occasionally, related to the exercise of those entities' activities;
Amendment 1362 #
Proposal for a directive Article 76 – paragraph 3 3. The confidentiality requirements set out in paragraphs 1 and 2 of this Article shall not prevent resolution authorities, including their employees, from sharing information with other Union resolution authorities, competent authorities, central banks, EBA, or, subject to Article
Amendment 1367 #
Proposal for a directive Article 80 – paragraph 2 – subparagraph 1 The group level resolution authority, the resolution authorities of each Member State in which a subsidiary covered by consolidated supervision is established, the resolution authorities of the Member States where the group institutions have relevant branches and EBA shall be members of the resolution college.
Amendment 1372 #
Proposal for a directive Article 80 – paragraph 6 6. Notwithstanding paragraph 2, for the purposes of performing the tasks referred to in point (e) of the second subparagraph of paragraph 1 the resolution authority or authorities of each Member State in which a subsidiary is established and of each Member State where the group institutions have relevant branches shall participate at the meetings or activities of the resolution college.
Amendment 1379 #
Proposal for a directive Article 81 – paragraph 1 1. Where a third country institution or third country parent undertaking has two or more subsidiary institutions established or two ore more relevant branches providing services in the Union, the resolution authorities of Member States where those domestic subsidiary institutions and relevant branches in the Union are established shall establish a European resolution college if no arrangements as the ones foreseen in Article 89 have been established.
Amendment 1380 #
Proposal for a directive Article 81 – paragraph 3 – subparagraph 1 Where the domestic subsidiaries are held by or the relevant branches are from a financial holding company established within the Union in accordance with the third subparagraph of Article 143(3) of Directive 2006/48/EC, the European resolution college shall be chaired by the resolution authority of the Member State where the consolidating supervisor is located for the purposes of consolidated supervision under that Directive.
Amendment 1384 #
Proposal for a directive Article 82 – paragraph 2 The resolution authorities shall communicate on request of other resolution authority all relevant information. In particular, the group level resolution authority shall provide the resolution authorities in other Member States with all the relevant information in a timely manner in view of facilitating the exercise of the tasks referred to in points (b) to (h ) of the second subparagraph of Article 80(1).
Amendment 1412 #
Proposal for a directive Article 86 – paragraph 2 2. The Commission shall, by means of delegated acts adopted in accordance to Article 103,
Amendment 1413 #
Proposal for a directive Article 88 – paragraph 3 – point a (a) the development of resolution plans in accordance with Articles 9, 11 and 12 and similar requirements under the law of the relevant third countries;
Amendment 1443 #
Proposal for a directive Article 92 – paragraph 1 – subparagraph 1 – point e (e) to take any combination of the actions referred to in points (a) to (
Amendment 1451 #
Proposal for a directive Article 93 – paragraph 1 1. Member States shall ensure that, in a period no longer than 10 years after the entry into force of this directive, the available financial means of their financing arrangements reach at least
Amendment 1459 #
Proposal for a directive Article 93 – paragraph 2 – subparagraph 2 Member States may extend the initial period of time for a maximum of four years in case the financing arrangements make cumulated disbursements superior to 0.5% of
Amendment 1463 #
Proposal for a directive Article 93 – paragraph 3 3. If, after the initial period of time referred to in paragraph 1, the available financial means diminish below the target level specified in paragraph 2, contributions raised in accordance with Article 94 shall resume until the target level is reached. Where the available financial means amount to less than half of the target level, the annual contributions shall not be less than 0.25% of
Amendment 1470 #
Proposal for a directive Article 94 – paragraph 2 – point a Amendment 1479 #
Proposal for a directive Article 94 – paragraph 2 – point b (b)
Amendment 1482 #
Proposal for a directive Article 94 – paragraph 2 – point c (c) the contributions
Amendment 1488 #
Proposal for a directive Article 94 – paragraph 3 3. The available financial means to be taken into account in order to reach the target level specified in Article 93 may include payment commitments which are fully backed by collateral of low risk assets unencumbered by any third party rights, at the free disposal and earmarked for the exclusive use by the resolution authorities for the purposes specified in the first paragraph of Article 92. The share of irrevocable payment commitments shall not exceed
Amendment 1490 #
Proposal for a directive Article 94 – paragraph 5 5. The amounts raised in accordance with this Article shall only be used for the purposes specified in Article 92 of this Directive
Amendment 1518 #
Proposal for a directive Article 94 – paragraph 7 – point g (g) its systemic importance for the market in question, its opacity and its interconnectedness.
Amendment 1549 #
Proposal for a directive Article 97 – paragraph 2 – subparagraph 1 Member States shall ensure that financing arrangements under their jurisdiction
Amendment 1555 #
Proposal for a directive Article 97 – paragraph 2 – subparagraph 2 Amendment 1586 #
Proposal for a directive Article 98 – paragraph 6 6. Member States shall ensure that each national financing arrangement under its jurisdiction guarantees any borrowing contracted by the group financing arrangement in accordance with paragraph
Amendment 1595 #
Proposal for a directive Article 98 a (new) Article 98 a European Resolution Fund Member States shall design their financial arrangements envisaging their possible future merge, partial or total, into a European Resolution Fund.
Amendment 1634 #
Proposal for a directive Article 99 a (new) Article 99 a Prohibition of the use of deposit guarantee schemes in the context of resolution Member States shall ensure that deposit guarantee schemes are not used to finance any resolution action.
Amendment 1636 #
Proposal for a directive Article 100 – paragraph 3 3. The competence to exercise the sanctioning powers foreseen in this Directive shall be attributed to resolution authorities or to competent authorities, depending on the breach. Resolution authorities and competent authorities shall be given all investigatory powers that are necessary for the exercise of their functions. In the exercise of their sanctioning powers, resolution authorities and competent authorities shall cooperate closely to ensure that sanctions or measures produce the desired results and coordinate their action when dealing with cross border cases.
Amendment 1637 #
Proposal for a directive Article 101 – paragraph 1 – point b (b) an entity fails to notify an intention to provide group financial support to its competent authorities in breach of Article 2
Amendment 1638 #
Proposal for a directive Article 101 – paragraph 1 – point d (d) the management of an institution fails to notify the competent authority when the institution is failing or likely to fail in breach of Article 7
Amendment 1642 #
Proposal for a directive Article 103 – paragraph 3 3. The delegation of powers referred to in Articles 2, 4,
Amendment 1644 #
Proposal for a directive Article 103 – paragraph 5 5. A delegated act adopted pursuant to Articles 2, 4,
Amendment 1656 #
Proposal for a directive Article 114 – paragraph 1 a (new) By 31 December 2013, the Commission shall put forward a proposal for the creation of a European Resolution Authority and of a European Resolution Fund.
Amendment 1658 #
Proposal for a directive Article 115 – paragraph 1 a (new) 1 a. Institutions shall submit their recovery plans to competent authorities and resolution authorities shall draw up resolution plans, according to Articles 6(1) and 9(1), in six months from the date of the entry into force of the regulatory technical standards referred in Articles 4a, 13(3) and 14(8).
Amendment 1660 #
Proposal for a directive Article 115 – paragraph 1 – subparagraph 1 Member States shall adopt and publish by 31 December 2014 at the latest the laws, regulations and administrative provisions necessary to comply with this Directive. They shall forthwith communicate to the Commission the text of those provisions and a correlation table between those provisions and this Directive.
source: PE-502.084
2013/11/01
ECON
25 amendments...
Amendment 404 #
Proposal for a directive Article 5 – paragraph 4 – subparagraph 1 a (new) Recovery plans shall provide for measures to be taken by the management of the institution when the competent authority adopts measures of early intervention according to Article 22.
Amendment 409 #
Proposal for a directive Article 5 – paragraph 5 5. The competent authorities shall ensure that institutions include in recovery plans appropriate conditions and procedures to ensure the timely implementation of recovery actions as well as a wide range of recovery options. Competent authorities shall ensure that
Amendment 414 #
Proposal for a directive Article 5 – paragraph 6 Amendment 425 #
Proposal for a directive Article 6 – paragraph 1 1. Member States shall require institutions to submit recovery plans to the competent authorities for review within not more than six months from the date of the entry into force of the regulatory technical standards referred to in Articles 4a and 5(7).
Amendment 427 #
Proposal for a directive Article 6 – paragraph 2 – introductory part 2. The competent authorities shall, within not more than three months from the submission, review those plans and assess the extent to which each plan satisfies the requirements set out in Article 5 and the following criteria:
Amendment 429 #
Proposal for a directive Article 6 – paragraph 2 – point a (a) the implementation of the arrangements proposed in the plan would be likely to restore the viability and financial soundness of the institution, taking into account the preparatory measures that the institution has
Amendment 430 #
Proposal for a directive Article 6 – paragraph 2 – point b (b) the plan or specific options could be implemented effectively in situations of financial stress and without causing any significant adverse effect on the financial system
Amendment 470 #
Proposal for a directive Article 7 – paragraph 2 2. The consolidating supervisor shall transmit the group recovery plans to the relevant competent authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC and to EBA.
Amendment 477 #
Proposal for a directive Article 7 – paragraph 3 – subparagraph 2 a (new) The potential impact of the recovery measures in all the Member States where the group operates shall be specifically taken into account in the drawing up of the group recovery plan.
Amendment 495 #
Proposal for a directive Article 8 – paragraph 1 – subparagraph 2 The consolidating supervisor shall carry out the review and assessment of the group recovery plan, including the recovery plans for individual institutions that are part of the group, in consultation and cooperation with the competent authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC. The review and assessment in accordance with Article 6(2) of this Directive of the group recovery plan and, if necessary, the request to take measures in accordance with Article 6(4) of this Directive shall take the form of joint decisions by the authorities participating in the colleges of supervisors referred to in Article 131a of Directive 2006/48/EC, which will take into account the potential impact of the recovery measures in all the Member States where the group operates.
Amendment 519 #
Proposal for a directive Article 8 a (new) Article 8a Transmission of the recovery plans to the resolution authorities 1. The competent authority shall transmit the recovery plans and any changes thereto to the relevant resolution authorities. 2. Group recovery plans shall be transmitted according to the previous paragraph by the consolidating supervisor.
Amendment 528 #
Proposal for a directive Article 9 – paragraph 1 1. Resolution authorities, in consultation with competent authorities
Amendment 530 #
Proposal for a directive Article 9 – paragraph 1 a (new) 1a. When drawing up the resolution plan, the resolution authority shall identify any impediments to resolvability and, where appropriate, exercise the preventive powers to remove those impediments, according to Chapter II of the present Title.
Amendment 536 #
Proposal for a directive Article 9 – paragraph 3 3. Resolution plans shall be reviewed, and where appropriate updated, at least annually and after any material changes to the legal or organisational structure of the institution or to its business or its financial situation that could have a material effect on the effectiveness of the plan or otherwise imposes a change to the resolution plan.
Amendment 538 #
Proposal for a directive Article 9 – paragraph 3 – subparagraph 1 (new) For the purpose of the revision or update of the resolution plans according to the previous subparagraph, the institutions and the competent authorities shall communicate immediately to the resolution authorities any change that imposes a revision or update of the resolution plan.
Amendment 548 #
Proposal for a directive Article 9 – paragraph 4 – point m a (new) (ma) an analysis of the impact of the plan on the employees of the institution and a description of envisaged measures for establishing procedures to consult with staff during the resolution process, taking into account national systems for dialogue with social partners where applicable;
Amendment 550 #
Proposal for a directive Article 9 – paragraph 5 Amendment 558 #
Proposal for a directive Article 10 – title Information for the purpose of resolution plans and cooperation from the institution
Amendment 560 #
Proposal for a directive Article 10 – paragraph 3 a (new) 3a. Member States shall ensure that resolution authorities have the power to require institutions all the cooperation necessary to draw up resolution plans.
Amendment 585 #
Proposal for a directive Article 11 – paragraph 3 a (new) 3a. The potential impact of the resolution in all the Member States where the group operates shall be specifically taken into account in the drawing up of the group resolution plan.
Amendment 594 #
Proposal for a directive Article 12 – paragraph 4 – subparagraph 1 The group resolution plan shall take the form of a joint decision of the group level resolution authority and the other relevant resolution authorities, which will take into account the potential impact of the resolution in all the Member States where the group operates. The resolution authorities shall make a joint decision within a period of
Amendment 600 #
Proposal for a directive Article 12 – paragraph 4 – subparagraph 2 In the absence of such a joint decision between the resolution authorities within
Amendment 611 #
Proposal for a directive Article 12 – paragraph 5 5. A resolution authority that disagrees with any element of the group resolution plan may refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. The matter may not be referred to EBA after the end of the
Amendment 615 #
Proposal for a directive Article 12 – paragraph 6 6. EBA shall take a decision within one month, and the
Amendment 619 #
Proposal for a directive Article 12 a (new) Article 12a Transmission of the resolution plans to the competent authorities 1. The resolution authority shall transmit the resolution plans and any changes thereto to the relevant competent authorities. 2. Group resolution plans shall be transmitted according to the previous paragraph by the group level resolution authority.
source: PE-502.084
|
| 51 |
2012/0242(CNS) Prudential supervision of credit institutions: conferral of specific tasks on the European Central Bank (ECB)
2012/10/30
ECON
51 amendments...
Amendment 401 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation confers on the ECB, within the Single Supervisory Mechanism (SSM) composed of the ECB and of the national competent authorities of participating Member States, specific tasks concerning policies relating to the prudential supervision of credit institutions, with a view to promoting the safety and soundness of credit institutions and the stability of the financial system, with due regard for the unity and integrity of the internal market.
Amendment 435 #
Proposal for a regulation Article 3 – paragraph 1 The ECB, in its role within the SSM, shall cooperate closely with the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the European Systemic Risk Board, which form part of the European System of Financial Supervision established by Article 2 of Regulations (EU) No. 1093/2010, (EU) No 1094/2010, and (EU) No 1095/2010.
Amendment 446 #
Proposal for a regulation Article 4 – title Tasks conferred on the ECB within the SSM
Amendment 458 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The ECB shall, within the SSM and in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:
Amendment 493 #
Proposal for a regulation Article 4 – paragraph 1 – point k (k) To carry out
Amendment 510 #
Proposal for a regulation Article 4 – paragraph 1 – point l (l) To coordinate and express a common position of representatives from competent authorities of the participating Member States when participating in the Board of Supervisors and the Management Board of the European Banking Authority, for issues relating to the tasks conferred on the ECB within the SSM by this Regulation
Amendment 511 #
Proposal for a regulation Article 4 – paragraph 1 – point l a (new) (la) To apply sanctions in accordance with according to Article 15.
Amendment 512 #
Proposal for a regulation Article 4 – paragraph 1 a (new) 1a. For the purpose of points (i) and (j) of the previous subparagraph, the ECB shall cooperate closely with the relevant supervisors and ESAs.
Amendment 522 #
Proposal for a regulation Article 4 – paragraph 2 2. For credit institutions established in a non-participating Member State, which establish a branch or provide cross-border services in a participating Member State, the ECB shall, within the SSM, carry out the tasks referred to in paragraph 1 for which the national competent authorities of the participating Member State are competent.
Amendment 526 #
Proposal for a regulation Article 4 – paragraph 3 3. Subject to and in compliance with any relevant Union law rule and in particular any legislative and non-legislative act, the ECB, within the SSM, may adopt regulations and recommendations and take decisions to implement or apply Union law, to the extent necessary to carry out the tasks conferred upon it by this Regulation. All the decisions taken by the ECB in the scope of this Regulation shall be reasoned and notified to the respective addressees.
Amendment 541 #
Proposal for a regulation Article 5 – title Amendment 563 #
Proposal for a regulation Article 5 – paragraph 2 2. National competent authorities shall assist the ECB within the SSM on its request
Amendment 569 #
Proposal for a regulation Article 5 – paragraph 3 3. The
Amendment 581 #
Proposal for a regulation Article 5 – paragraph 3 a (new) 3a. The decisions referred in paragraph 3 shall be based on objective criteria set by the Supervisory Board.
Amendment 582 #
Proposal for a regulation Article 5 – paragraph 3 b (new) 3b. The supervisory board of the ECB shall notify to each credit institution the supervisory arrangements to which it is subject.
Amendment 583 #
Proposal for a regulation Article 5 – paragraph 3 c (new) 3c. Regardless of the supervisory arrangements notified to a credit institution, the ECB may decide to take over a supervisory task assigned to a national competent authority and/or to change or revoke a decision taken by a national competent authority, namely in the following cases: (a) where there are serious concerns about the safety and/or soundness of any credit institution; (b) where the national competent authorities fail to perform their duties under this Regulation; (c) where a credit institution, individually or as part of a group of credit institutions, may pose or is likely to pose a threat to the orderly functioning and integrity of the Union financial market and/or to the stability of the financial system, or may exacerbate or is likely to exacerbate a pre- existing risk to the orderly functioning and integrity of the EU financial market and/or to the stability of the financial system.
Amendment 584 #
Proposal for a regulation Article 5 – paragraph 3 d (new) 3d. The decision referred in paragraph 3c shall be notified to the national competent authority and to the credit institution concerned.
Amendment 586 #
Proposal for a regulation Article 5 – paragraph 4 Amendment 605 #
Proposal for a regulation Article 5 a (new) Article 5 a Continuous supervision The SSM shall continuously accompany the activity of the entities that are under its supervision, even when there is no suspicion of irregularity.
Amendment 638 #
Proposal for a regulation Article 6 – paragraph 3 Amendment 663 #
Proposal for a regulation Article 7 – paragraph 1 Without prejudice to the respective competences of the Member States and the other Union institutions, in relation to the tasks conferred on the ECB within the SSM by this Regulation, the ECB may develop contacts and enter into administrative arrangements with supervisory authorities, international organisations and the administrations of third countries, subject to appropriate coordination with the EBA. Those arrangements shall not create legal obligations in respect of the Union and its Member States.
Amendment 668 #
Proposal for a regulation Article 8 – paragraph 1 – subparagraph 2 Amendment 689 #
Proposal for a regulation Article 9 – paragraph 2 2. The persons referred to in paragraph 1 shall supply the information requested. Professional secrecy provisions do not exempt those persons from the duty to supply the information. The supply of the information shall not be deemed to be a breach of professional secrecy.
Amendment 715 #
Proposal for a regulation Article 12 – paragraph 2 2. Where authorisation as referred to in paragraph 1 is applied for, and the decision to carry out an on-site inspection was taken by the ECB within the SSM, the national judicial authority shall control that the decision of the ECB is authentic and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask the ECB for detailed explanations, in particular relating to the grounds the ECB has for suspecting that an infringement of the relevant acts of Union law has taken place and the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. However, the national judicial authority shall not review the necessity for the inspection or demand to be provided with the information on the ECB's file. The lawfulness of the ECB's decision shall be subject to review only by the Court of Justice of the European Union.
Amendment 716 #
Proposal for a regulation Article 12 a (new) Article 12a Reporting obligation The ECB and the national competent authorities shall inform the competent entities of offences which come to their notice because of their functions within the SSM and that occur outside the SSM's competences.
Amendment 732 #
Proposal for a regulation Article 14 – paragraph 1 – subparagraph 1 a (new) Even where the procedures for credit institutions wishing to carry on their activities within the territory of another Member State and the related competences of home and host Member States do not apply in accordance with the first subparagraph, the college of supervisors foreseen in the Directive 2006/48/EC shall be set up. Before taking any decision, the ECB shall consult that college of supervisors.
Amendment 735 #
Proposal for a regulation Article 14 – paragraph 2 – subparagraph 1 a (new) Even where the provisions in relation to the cooperation between competent authorities from different Member States for conducting supervision on a consolidated basis do not apply in accordance with the first subparagraph, the college of supervisors foreseen in the Directive 2006/48/EC shall be set up. Before taking any decision, the ECB shall consult that college of supervisors.
Amendment 746 #
Proposal for a regulation Article 15 – paragraph 1 – subparagraph 1 a (new) In the situation foreseen in the first subparagraph, the competent authorities under Union law shall not apply the available administrative pecuniary sanctions to the same credit institution, financial holding company or mixed financial holding company for the same breach.
Amendment 761 #
Proposal for a regulation Article 15 a (new) Article 15a Actions against the ECB before the Court of Justice of the European Union 1. Proceedings may be brought before the Court of Justice of the European Union, in accordance with Article 263 TFEU, contesting a decision taken by the ECB within the scope of this Regulation. 2. Any natural or legal person and, where applicable, Member State affected by a decision taken by the ECB within the scope of this Regulation may institute proceedings before the Court of Justice of the European Union against the decision of the ECB, in accordance with Article 263 TFEU. 3. If the ECB has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall take the necessary measures to comply with the judgment of the Court of Justice of the European Union.
Amendment 762 #
CHAPTER IIIa BOARD OF APPEAL WITHIN THE ECB Article 15 a Composition and operation 1. The Board of Appeal shall be composed of six members and six alternates who shall be individuals of a high repute with a proven record of relevant knowledge and professional experience, including supervisory experience, to a sufficiently high level in the fields of banking or other financial services, excluding current staff of the ECB, or other national or Union institutions and authorities involved in the activities of the SSM. The Board of Appeal shall have sufficient legal expertise to provide expert legal advice on the legality of the ECB's exercise of its powers. The Board of Appeal shall designate its President. 2. The members of the Board of Appeal shall be appointed by the Supervisory Board of the ECB from a short-list proposed by the Commission, following a public call for expressions of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors of the EBA. 3. The term of office of the members of the Board of Appeal shall be 5 years. That term may be extended once. 4. A member of the Board of Appeal shall not be removed during his term of office, unless he has been found guilty of serious misconduct and the Supervisory Board takes a decision to remove the member. 5. The decisions of the Board of Appeal shall be adopted on the basis of a majority of at least four of its six members. 6. The Board of Appeal shall be convened by its President when necessary. 7. The ECB shall ensure adequate operational and secretarial support for the Board of Appeal.
Amendment 765 #
Proposal for a regulation Article 15 b (new) Article 15b Actions against the national competent authorities before the national courts 1. Proceedings may be brought before the national courts contesting a decision taken by a national competent authority within the scope of this Regulation. 2. Any natural or legal person and, where applicable, Member State affected by a decision taken by a national competent authority within the scope of this Regulation may institute proceedings before the national courts against the decision of the national competent authority. 3. If a national competent authority has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the national courts. 4. National competent authorities shall take the necessary measures to comply with the judgment of the national courts.
Amendment 766 #
Proposal for a regulation Article 15 b (new) Article 15b Independence and impartiality 1. The members of the Board of Appeal shall be independent in making their decisions. They shall not be bound by any instructions. They shall not perform any other activities in relation to the SSM. 2. Members of the Board of Appeal shall not take part in any appeal proceedings in which they have any personal interest, if they have previously been involved as representatives of one of the parties to the proceedings, or if they have participated in the decision under appeal. 3. If, for one of the reasons referred to in paragraphs 1 and 2 or for any other reason, a member of a Board of Appeal considers that another member should not take part in any appeal proceedings, he shall inform the Board of Appeal accordingly. 4. Any party to the appeal proceedings may object to the participation of a member of the Board of Appeal on any of the grounds referred to in paragraphs 1 and 2, or if suspected of bias. No objection may be based on the nationality of members nor shall it be admissible if, while being aware of a reason for objecting, the party to the appeal proceedings has nonetheless taken a procedural step other than objecting to the composition of the Board of Appeal. 5. The Board of Appeal shall decide on the action to be taken in the cases specified in paragraphs 1 and 2 without the participation of the member concerned. For the purpose of taking that decision, the member concerned shall be replaced on the Board of Appeal by his alternate. Where the alternate is in a similar situation, the Chairperson shall designate a replacement from among the available alternates. 6. The members of the Board of Appeal shall undertake to act independently and in the public interest. For that purpose, they shall make a declaration of commitments and a declaration of interests indicating either the absence of any interest which may be considered prejudicial to their independence or any direct or indirect interest which might be considered prejudicial to their independence. Those declarations shall be made public, annually and in writing.
Amendment 767 #
Proposal for a regulation Article 15 c (new) Amendment 768 #
Proposal for a regulation Article 15 d (new) Article 15d Actions before the Court of Justice of the European Union 1. Proceedings may be brought before the Court of Justice of the European Union, in accordance with Article 263 TFEU, contesting a decision taken by the Board of Appeal or, in cases where there is no right of appeal before the Board of Appeal, by the ECB within the SSM. 2. Member States and the Union institutions, as well as any natural or legal person, may institute proceedings before the Court of Justice of the European Union against decisions of the ECB, in accordance with Article 263 TFEU. 3. In the event that the ECB within the SSM has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall be required to take the necessary measures to comply with the judgment of the Court of Justice of the European Union.
Amendment 770 #
Proposal for a regulation Article 16 – paragraph 1 1. When carrying out the tasks conferred upon it by this Regulation, the ECB shall act independently. The national competent authorities within the SSM shall act independently.
Amendment 777 #
Proposal for a regulation Article 16 – paragraph 2 a (new) 2a. The ECB shall allow EU citizens to monitor the independence of policy- making and supervisory functions from private interests by participating in the inter-institutional Transparency Register, together with the European Parliament and Commission.
Amendment 805 #
Proposal for a regulation Article 19 – paragraph 1 1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB after approval by the European Parliament and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter ‘supervisory board’).
Amendment 806 #
Proposal for a regulation Article 19 – paragraph 1 1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter
Amendment 816 #
Proposal for a regulation Article 19 – paragraph 1 a (new) 1 a. The Executive Board of the ECB shall submit to the European Parliament a short list of candidates to the Supervisory Council composed of an equal number of men and women.
Amendment 823 #
Proposal for a regulation Article 19 – paragraph 2 2. In addition, the supervisory board shall include a Chair elected by the members of the Governing Council from the members, with the exception of the President, of the Executive Board, and a Vice-Chair elected by and from the members of the Governing Council of the ECB. The European Parliament shall approve the election of the Chair and the Vice-Chair.
Amendment 831 #
Proposal for a regulation Article 19 – paragraph 2 a (new) 2a. Gender balance shall be taken into consideration for the election of the Chair and the Vice-Chair.
Amendment 847 #
Proposal for a regulation Article 19 – paragraph 4 4. The supervisory board may appoint from among its members a steering committee with a more limited composition which supports its activities, including preparing the meetings, but shall not have any decision-making powers.
Amendment 850 #
Proposal for a regulation Article 19 – paragraph 5 Amendment 877 #
Proposal for a regulation Article 20 – paragraph 1 1. Members of
Amendment 879 #
Proposal for a regulation Article 20 – paragraph 2 2. For the purpose of carrying out the tasks conferred upon it by this Regulation, the ECB shall be authorised, within the limits and under the conditions set out in the relevant acts of Union law, to exchange information with the national competent authorities within the SMM and with national or European authorities and bodies in the cases where Union law allows national competent authorities to disclose information to those entities or where
Amendment 929 #
Proposal for a regulation Article 25 – paragraph 2 a (new) 2a. The ECB shall create a standing ethics committee to assess possible conflicts of interest resulting from post- office employment of ECB staff members engaged in supervisory activities. The committee will be responsible for elaborating comprehensive and formal procedures for assessment. The results of such assessments shall be publicly disclosed.
Amendment 930 #
Proposal for a regulation Article 25 – paragraph 2 b (new) 2b. Former ECB staff members who have been engaged in supervisory activities, and who intend to engage in an occupation during the two years after they have ceased to hold office, shall inform the ethics committee in good time. The committee shall make a decision by one month since receiving the information on the compatibility of the employment offer with the need to ensure the integrity and independence of staff. Former ECB staff members can engage in the occupation only after approval of the ethics committee.
Amendment 931 #
Proposal for a regulation Article 25 – paragraph 2 c (new) 2c. Members of the supervisory board shall be prohibited from taking paid work in private sector institutions for which the ECB has supervisory responsibility during the two years after they have ceased to hold office.
Amendment 940 #
Proposal for a regulation Article 26 – paragraph 1 – point -a c (new) (-ac) the functioning of the SSM regarding the division of tasks between the ECB and the national competent authorities;
Amendment 970 #
Proposal for a regulation Article 27 – paragraph 1 1. From the 1st of July 2013, the ECB shall carry out the supervisory tasks conferred on it
Amendment 980 #
Proposal for a regulation Article 27 – paragraph 5 – subparagraph 1 By derogation from Article 4 (3), from the entry into force of this regulation and until the repeal of Directives 2006/48/EC and 2006/49/EC and their replacement by new Union acts, the ECB shall exercise the tasks
source: PE-498.139
|
| 12 |
2012/2028(INI) Feasibility of introducing stability bonds
2012/12/07
ECON
12 amendments...
Amendment 259 #
Motion for a resolution Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 3 -
Amendment 265 #
Motion for a resolution Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 4 -
Amendment 267 #
Motion for a resolution Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 5 -
Amendment 278 #
Motion for a resolution Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 1 - establish an agency or use an existing entity to issue eurobills
Amendment 295 #
Motion for a resolution Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 4 a (new) - The ESM shall obtain a banking licence to intervene if proven necessary to ensure the adequate functioning of the system;
Amendment 314 #
Motion for a resolution Annex - Phase 2 - Paragraph 2 The Commission puts forward proposals for the setting up of a system for the allocation of debt below 60 % of GDP to be issued in common, which is safeguarded by
Amendment 318 #
Motion for a resolution Annex - Phase 2 - Paragraph 2 - Subparagraph 1 Amendment 323 #
Motion for a resolution Annex - Phase 2 - Paragraph 2 - Subparagraph 3 Amendment 331 #
Motion for a resolution Annex - Phase 3 - Title Phase 3 -
Amendment 337 #
Motion for a resolution Annex - Phase 3 - Paragraph 1 - On the basis of the work of the committee,
Amendment 340 #
Motion for a resolution Annex - Phase 3 - Paragraph 1 - Subparagraph 1 - limit participation to the Member States
Amendment 351 #
Motion for a resolution Annex - Phase 4 - Paragraph 1 - The Commission, after having prepared all eventual changes to the EU legal framework, puts forward proposals for
source: PE-492.874
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| 21 |
2012/2150(INI) European Semester for economic policy coordination: implementation of 2012 priorities
2012/09/13
ECON
21 amendments...
Amendment 2 #
Motion for a resolution Citation 1 a (new) - Having regard to the conclusions of the European Council of 28/29 June 2012
Amendment 7 #
Motion for a resolution Recital B a (new) Ba. whereas the crisis and the increasing disparities in competitiveness since the introduction of the euro have highlighted the need for enhanced coordination of economic and employment policies and improved budgetary practices
Amendment 9 #
Motion for a resolution Recital B b (new) Bb. Whereas there is a strong commitment of the European Council to mobilise at every level of governance in the EU all levers, instruments and policies to stimulate smart, sustainable, inclusive, resource efficient and job-creating growth by adopting the "Compact for growth and jobs";
Amendment 10 #
Motion for a resolution Paragraph 1 1.
Amendment 20 #
Motion for a resolution Paragraph 2 2. Recalls that the European Semester allows for
Amendment 27 #
Motion for a resolution Paragraph 3 3.
Amendment 29 #
Motion for a resolution Paragraph 3 a (new) 3a. Urges the Commission to present a European social and employment pact conducive to economic and inclusive growth;
Amendment 30 #
Motion for a resolution Paragraph 3 b (new) 3b. Stresses the need for increased coherence within and among the different Member States' Recommendations, a better use of the macroeconomic scoreboard and a deeper look into the spill-over effects of individual members' economic policies;
Amendment 31 #
Motion for a resolution Paragraph 4 4.
Amendment 48 #
Motion for a resolution Paragraph 6 6. Urges the Commission to be more explicit, thorough and coherent in its recommendations and further to monitor recommendations made in the past, i
Amendment 52 #
Motion for a resolution Paragraph 6 a (new) 6a. Urges the Commission to specifically evaluate the economic results of the Commission's recommendations, namely those embedded in the adjustment programmes associated with financial assistance; urges the Commission to allow for revisions and adjustments of specific recommendations when these prove inadequate to achieve defined objectives;
Amendment 58 #
Motion for a resolution Paragraph 6 b (new) 6b. Is concerned by the growing tendency of the Commission to infringe on the autonomy of social partners; notes, for example, that the Commission in this year's country-specific recommendations urges a number of Member States to restructure national systems for wage formation and/or to reduce national wage levels; stresses that this tendency is not acceptable and that it should be reversed; underlines that the autonomy of social partners is a crucial element of any well- functioning labour market and that it is protected inter alia in Articles 152 and 153.5 of the TFEU;
Amendment 59 #
Motion for a resolution Paragraph 6 c (new) 6c. Urges the Commission to address both Members States showing persistently large current-account deficits and competitiveness losses and Members States that accumulate large current account surpluses; in the latter, recommendations should aim at strengthening their domestic demand without jeopardising their growth potential;
Amendment 62 #
Motion for a resolution Paragraph 6 d (new) 6d. Calls upon the Commission to include in the European semester and to reflect in the country-specific recommendations, as one of the EU2020 Strategy sub-targets, policies tackling youth unemployment;
Amendment 63 #
Motion for a resolution Paragraph 6 e (new) 6e. Welcomes the important Commission initiative of 27 June 2012 to reinforce the fight against tax fraud end evasion; stresses that enhanced efforts in this area – at the national and EU levels as well as in relation to third countries – should be a crucial element in programmes aimed at consolidating public finances; calls for the raised level of ambition signalled by the initiative to be fully materialised in future legislative proposals and to be clearly reflected in the continuous work within the framework of the European Semester;
Amendment 67 #
Motion for a resolution Paragraph 7 7. Encourages the Member
Amendment 72 #
Motion for a resolution Paragraph 7 a (new) 7a. Recalls the recommendations of the "Compact for growth and Job" for the implementation of the Country specific recommendations, notably the need to pursue differentiated growth-friendly fiscal consolidation and to pay particular attention to investment; Urges the Commission to monitor the impact of tight budget constraints on growth enhancing public expenditure an on public investment;
Amendment 84 #
Motion for a resolution Paragraph 9 Amendment 88 #
Motion for a resolution Paragraph 10 Amendment 106 #
Motion for a resolution Paragraph 12 – subparagraph 1 (new) Recalls that the community method is the only one way to ensure efficiency and legitimacy;
Amendment 112 #
Motion for a resolution Paragraph 14 14. Recalls that the recommendations by the Commission are
source: PE-496.316
|
| 33 |
2012/2151(INI) Towards a genuine Economic and Monetary Union
2012/02/10
ECON
33 amendments...
Amendment 642 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 5 a (new) The proposal should provide for the judicial oversight of the European supervisor by the European Court of Justice which should be empowered to review the acts of the ECB;
Amendment 673 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 3 – protect the stability of the financial system, the transparency of markets and financial products and the protection of depositors
Amendment 678 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 a (new) Bodies responsible for supervision at supra-national level should be allocated sufficient resources, including staffing, to ensure that they have the necessary operational capacities to carry out their mission.
Amendment 712 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 A vehicle should be established or designated to provide reassurance that the collective obligation will be met. That vehicle could be the ESM provided that it is granted with a banking licence.
Amendment 713 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 A vehicle should be established or designated to provide reassurance that the collective obligation will be met. Th
Amendment 744 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 6 That obligation should be a collective one in the case of Member States whose currency is the euro. A vehicle should be established or designated to provide reassurance that that collective obligation will be met and if required that vehicle needs to be able to intervene directly in institutions under recovery or resolution. This vehicle must be managed according to the community method.
Amendment 745 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 6 That obligation should be a collective one in the case of Member States whose currency is the euro. A vehicle should be established or designated to provide reassurance that that collective obligation will be met and if required that vehicle needs to be able to intervene directly in institutions under recovery or resolution. That vehicle could be the ESM provided that it is granted with a banking licence.
Amendment 761 #
Motion for a resolution Annex – part 2 – point 2.2 Amendment 765 #
Motion for a resolution Annex – part 2 – point 2.3 – title Recommendation 2.3: Enhanced cooperation and harmonisation in the field of taxation
Amendment 773 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 a (new) Moreover, a binding roadmap should be established towards greater tax harmonisation within the internal market, in particular with respect to the taxation of capital, so as to mitigate the negative impact of tax competition.
Amendment 779 #
Motion for a resolution Annex – part 2 – Point 2.4 – paragraph 1 a (new) As a complement to fiscal discipline at national level, a capacity to reduce cyclical imbalances, address asymmetrical shocks and adequately mitigate structural divergences should be created for Member States whose currency is the euro, amounting to at least 1 % of the Union GDP; this capacity should rely on increased own resources of the Union's budget, notably by introducing specific taxes or fees in accordance with an enhanced cooperation procedure, including a financial transaction tax and the reform of the VAT system; it should be ring-fenced from existing programme in the Union budget Such new euro area tier of the Union budget could be managed and channelled through the ordinary budgetary procedure.
Amendment 784 #
Motion for a resolution Annex – part 2 – point 2.5 – paragraph 1 The free movement of capital cannot be used as a way to avoid tax, in particular for Member States whose currency is the euro and that are experiencing or threatened with serious difficulties with respect to their financial stability in the euro area. Therefore the Commission should swiftly finalise international agreement rounds and table proposals to improve cooperation and coordination between tax authorities, to upgrade and extend the scope of Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States1 to effectively end banking secrecy, to reform the accounting rules and corporate accounting disclosure to ensure more transparency, to strengthen country-by-country reporting requirements for cross-border companies, and to oppose tax havens and offshore finance. ______________ 1 OJ L 157, 26.6.2003, p.49.
Amendment 788 #
Motion for a resolution Annex – part 2 – point 2.5 a (new) Recommendation 2.5a on creating short- term means of fiscal solidarity The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Alongside the implementation of a reinforced framework to ensure fiscal discipline, including the six-pack and two- pack, the Commission should come forward immediately with a proposal following the ordinary legislative procedure for the creation of common short-term debt securities, or euro bills, aimed at providing immediate conditional support to Member States faced with refinancing difficulties; The liability for euro bills should be joint and several for member states whose currency is the euro. It should be limited in time and as a percentage of total liabilities of recipient Member States Euro bills should be made conditional to growth-enhancing reforms and fiscal policy in the recipient Member States. Euro bills could be issued by the European Financial Stability Facility (EFSM) without the need for a treaty change.
Amendment 789 #
Motion for a resolution Annex – part 2 – point 2.5 b (new) Recommendation 2.5b on ensuring democratic oversight of the European Stability Mechanism The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The ESM should evolve towards community-method management and be made accountable to the European Parliament. Key decisions, such as the granting of financial assistance to a Member State and the conclusion of memorandums, should be subject to the consent of the European Parliament. The Troika appointed to ensure the implementation of loan conditionality should be made accountable to the European Parliament. Its mandate should be approved following appropriate consultation with the European Parliament.
Amendment 790 #
Motion for a resolution Annex – part 2 – point 2.5 c (new) Recommendation 2.5c on a golden rule for public finance The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Fiscal rules for member states whose currency is the euro should be made anti- cyclical by introducing a distinction between operational government spending and public investments linked to the achievement of the Union's growth strategy; the latter should not be accounted for in the computation of deficits for the purpose of the correction and prevention of excessive deficits.
Amendment 791 #
Motion for a resolution Annex – part 2 – point 2.5 d (new) Recommendation 2.5 d on exceptional circumstances The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Ex-ante coordination of fiscal policy for Member States whose currency is the euro should take due account of the economic cycle; to that purpose, the exceptional circumstances referred to in secondary legislation framing the prevention and correction of excessive deficits should include an appropriate definition of cyclical downturn.
Amendment 792 #
Motion for a resolution Annex – part 2 – point 2.5 e (new) Recommendation 2.5e on ensuring democratic accountability and legitimacy of fiscal coordination The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: All newly created mechanism for fiscal policy coordination should be matched with sufficient provisions to ensure democratic accountability and legitimacy; In particular, all mechanism aimed at coordinating ex-ante the level of government debt and deficit levels should be subject to a legislative proposal in accordance to the ordinary legislative procedure and fully involve the European Parliament.
Amendment 793 #
Motion for a resolution Annex – part 2 – point 2.5 f (new) Recommendation 2.5f a roadmap for managing the existing stock of public debt The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The Commission should make immediately specific proposals for a roadmap towards the establishment of a mechanism for the medium/long term common management of the existing stock of public debt for Member states whose currency is the euro. This mechanism should rely on the issuance of common debt, jointly and severally guaranteed by participating member states.
Amendment 794 #
Motion for a resolution Annex – part 3 – point 3.1 Amendment 800 #
Motion for a resolution Annex – part 3 – point 3.2 – title Recommendation 3.2 on the better ex-ante coordination of economic policy and improving the European Semester
Amendment 801 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph -1 a (new) The Commission should bring forward proposals immediately in accordance with the ordinary legislative procedure to translate into secondary legislation the commitments of the Heads of State or Government on 28 June 2012 for a "Growth and Job compact"; In particular, the economic coordination framework should take due account of the commitment of the Member State to "pursuing differentiated growth-friendly fiscal consolidation, respecting the Stability and Growth Pact and taking into account country-specific circumstances" and to promote "investment into future- oriented areas directly related to the economy's growth potential";
Amendment 802 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph -1 b (new) The Commission should bring forward a legislative proposal in accordance with the ordinary legislative procedure based on Article 136 TFEU to clarify the role and status of the Annual Growth Survey for Member States whose currency is the euro; The European Semester should evolve towards full involvement of the European Parliament and national parliaments, including with respect to country-specific recommendations; In the longer run, a treaty change should allow for the introduction of co-decision powers for the European Parliament, throughout the European Semester process.
Amendment 805 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 1 a (new) - National reform programmes (NRPs) and national stability programmes (NSPs) should be closely linked; in particular, budget commitments required for the implementation of NRPs should be reflected in NSPs; adequate monitoring should ensure the coherence of NRPs and NSPs and Union legislation should ensure an operational link between the two instruments;
Amendment 811 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – subparagraph 1 b (new) - Incentive mechanisms would reinforce the binding nature of the economic policy coordination;
Amendment 814 #
Motion for a resolution Annex – part 3 – point 3.2 a (new) Recommendation 3.2a on a Social Pact for Europe The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: According to the Treaties the promotion of high employment and the guarantee of adequate social protection has to be taken into account in defining and implementing the policies and activities of the Union; The specific rules for a binding supervision of the budgetary discipline in the euro area can and should complement fiscal and macroeconomic benchmarks with employment and social benchmarks to ensure the appropriate implementation of the abovementioned provision through adequate Union financial provisions; A social pact for Europe should be set up to promote: - the introduction a European youth guarantee; - a euro area-specific unemployment insurance fund endowed with its own, dedicated fiscal resources; - 25 % of cohesion funding for ESF; - high quality and appropriate financing of public services; - decent living wages; - access to affordable and social housing; - a social protection floor to guarantee universal access to essential health services regardless of income; - support and subsistence security; - the implementation of a social protocol to protect fundamental social and labour rights; - a European framework to manage restructuring in a social and responsible way; - a new health and safety strategy including stress-related diseases; - equal pay and equal rights for work of equal value for all;
Amendment 819 #
Motion for a resolution Annex – part 4 – point 4.2 – paragraph 1 The operations of the EFSF/ESM and any future similar structure, should be subject to regular democratic
Amendment 826 #
Motion for a resolution Annex – part 4 – point 4.4 – title Recommendation 4.4 on increasing transparency, legitimacy and accountability
Amendment 829 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 2 - The European Parliament
Amendment 832 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 - The Commission troika representative(s)
Amendment 834 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 a (new) - the strengthening of the role of Commissioner for Economic and Monetary affaires or the creation of a European treasury office must be linked to adequate means for democratic accountability and legitimacy, involving approbation and control procedures by the European Parliament.
Amendment 837 #
Motion for a resolution Annex – part 4 – point 4.4 – paragraph -1 a (new) - Only the respect of the Community method, Union law and Union institutions can ensure the respect of democratic accountability and legitimacy in the European Union; under the Treaties, the EMU can only be established by the Union.
Amendment 838 #
Motion for a resolution Annex – part 4 – point 4.4 – paragraph -1 b (new) - The currency of the Union is the euro and its parliament is the European Parliament; the future architecture of the EMU must recognise that the European Parliament is the seat of accountability at European level;
Amendment 839 #
Motion for a resolution Annex – part 4 – point 4.4 – paragraph -1 c (new) - the process by which a blueprint for the future of the EMU is elaborated must fully involve the European Parliament in accordance to the community method;
source: PE-496.553
|
| 4 |
2012/2207(DEC) 2011 discharge: European Banking Authority (EBA)
2013/01/02
ECON
4 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Welcomes the opinion of the Court of Auditors on the reliability of the accounts (which have been deemed to present the financial position
Amendment 4 #
Draft opinion Paragraph 2 a (new) 2 a. Recalls the key role of the Authority in the implementation of the banking regulation and the new tasks allocated to it; considers that the new tasks entrusted to the European Supervisory Authorities should be accompanied by new resources and a more efficient system of spending;
Amendment 5 #
Draft opinion Paragraph 2 b (new) 2 b. Considers that a review of the current financing of the Authority is needed to ensure more efficiency and more independence; calls on the Commission to evaluate the possibility to come up with a proposal entailing the ESAs' budgets to be fully funded by the EU budget;
Amendment 8 #
Draft opinion Paragraph 6 6. Believes that improvements need to be made immediately to the transparency and soundness of recruitment procedures and grading to ensure diversity and high level of competence in its staff;
source: PE-504.190
|
| 4 |
2012/2208(DEC) 2011 discharge: European Insurance and Occupational Pensions Authority (EIOPA)
2013/01/30
ECON
4 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Welcomes the opinion of the Court of Auditors on the reliability of the accounts (which have been deemed to present the financial position
Amendment 2 #
Draft opinion Paragraph 1 a (new) 1 a. Recalls the key role of the Authority in the implementation of the insurance regulation and the new tasks allocated to it; considers that the new tasks entrusted to the European Supervisory Authorities should be accompanied by new resources and a more efficient system of spending;
Amendment 7 #
Draft opinion Paragraph 6 6. Calls on the authority to ensure, as soon as possible, the establishment of selection boards and the transparency of recruitment procedures while ensuring diversity and high level of competence in its staff;
Amendment 11 #
Draft opinion Paragraph 6 a (new) 6 a. Considers that a review of the current financing of the Authority is needed to ensure more efficiency and more independence; calls on the Commission to evaluate the possibility to come up with a proposal entailing the ESAs' budgets to be fully funded by the EU budget;
source: PE-504.189
|
| 3 |
2012/2209(DEC) 2011 discharge: European Securities and Markets Authority (ESMA)
2013/01/30
ECON
3 amendments...
Amendment 1 #
Draft opinion Paragraph 1 a (new) 1 a. Recalls the key role of the Authority in the implementation of the financial regulation and the new tasks allocated to it; considers that the new tasks entrusted to the European Supervisory Authorities should be accompanied by new resources and a more efficient system of spending;
Amendment 4 #
Draft opinion Paragraph 2 a (new) 2 a. Considers that a review of the current financing of the Authority is needed to ensure more efficiency and more independence; calls on the Commission to evaluate the possibility to come up with a proposal entailing the ESAs' budgets to be fully funded by the EU budget;
Amendment 7 #
Draft opinion Paragraph 7 7. Takes the view that the transparency of the recruitment procedure and the appointment of a selection board are matters that must be dealt with as soon as possible to ensure diversity and high level of competence in its staff, even if the ESMA, as the legal successor to CESR, has assumed legal commitments not based on the EU Financial Regulation;
source: PE-504.188
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Elisa FERREIRA on
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Term 7 14.07.2009 / ...
Term 6 20.07.2004 - 13.07.2009
All references link to europarl.euHistory
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