2023/2078(INI) Banking Union – annual report 2023
Next event: Indicative plenary sitting date 2024/01/15
Lead committee dossier:
Next event: Indicative plenary sitting date 2024/01/15
Progress: Awaiting committee decision
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
IJABS Ivars ( Renew)
|
FITZGERALD Frances ( EPP),
LALUCQ Aurore ( S&D),
LAMBERTS Philippe ( Verts/ALE),
RZOŃCA Bogdan ( ECR)
|
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Subjects
Events
2024/01/15
Indicative plenary sitting date
2023/11/28
EP - Vote in committee
2023/10/27
EP - Amendments tabled in committee
Documents
2023/09/13
EP - Committee draft report
Documents
2023/06/15
EP - Committee referral announced in Parliament
2023/05/30
EP - IJABS Ivars (Renew) appointed as rapporteur in ECON
Documents
| Amendments | Dossier |
| 224 |
2023/2078(INI)
2023/10/27
ECON
224 amendments...
Amendment 1 #
Motion for a resolution Citation 11 a (new) – having regard to the ECB Occasional Paper Series 'The Road to Paris: stress testing the transition towards a net-zero economy',
Amendment 10 #
Motion for a resolution Recital A A. whereas the Banking Union (BU)
Amendment 100 #
Motion for a resolution Paragraph 5 a (new) Amendment 101 #
Motion for a resolution Paragraph 5 a (new) 5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buy back in times of crisis;
Amendment 102 #
Motion for a resolution Paragraph 6 Amendment 103 #
Motion for a resolution Paragraph 6 Amendment 104 #
Motion for a resolution Paragraph 6 Amendment 105 #
Motion for a resolution Paragraph 6 6.
Amendment 106 #
Motion for a resolution Paragraph 6 6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation
Amendment 107 #
Motion for a resolution Paragraph 6 6. Calls for consolidation in the EU to be promoted by removing incentives for risk fencing and regulatory impediments to cross-border mergers; highlights that consolidation would increase the profitability of the EU banking sector and financial stability by allowing diversification ;
Amendment 108 #
Motion for a resolution Paragraph 6 6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers;
Amendment 109 #
Motion for a resolution Paragraph 6 6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation would increase the profitability of the EU banking sector and financial stability while improving the current situation of reduced services offered and increased costs for citizens in many Member States, notes at the same time that he current level playing field imbalance between EU and third country banks present in the EU would be reduced ;
Amendment 11 #
Motion for a resolution Recital A A. whereas the Banking Union (BU)
Amendment 110 #
Motion for a resolution Paragraph 6 a (new) 6 a. Recalls the IMF's World Financial Stability Report published in April 2023, which identifies three possible sources of risk to the financial sector: these include the interconnection of Non- Bank Financial Institutions (NBFI) with banks, the functioning of NBFI themselves, through a mismatch of liquidity, and the risk of incurring losses greater than anticipated; emphasises that the latter point accelerated the bankruptcy of Silicon Valley Bank; notes that the interconnection of NBFI with banks increases the risk of transferring difficulties from one to the other, ultimately limiting the financing capacity for the real economy, potentially causing a significant slowdown;
Amendment 111 #
Motion for a resolution Paragraph 6 a (new) 6 a. Highlights that the interest rates offered to households and SMEs across the Member States are highly disparate; urges the EU institutions and bodies to consider measures to improve consumer choice and competition and ease the burden on mortgage holders and SMEs in Member States with higher lending rates to ensure that all citizens and businesses can access much-needed capital at fair and competitive rates;
Amendment 112 #
Motion for a resolution Paragraph 6 b (new) 6 b. Considers that an integrated Banking Union must be contingent on a well-functioning single market for retail financial services; calls on the Commission to assess the obstacles and barriers that arise for consumers when availing of retail banking products such as mortgage loans on a cross-border basis and to propose solutions to ensure that consumers can benefit from retail financial services across borders; notes, furthermore, the high discrepancy in mortgage interest rates across the Union;
Amendment 113 #
Motion for a resolution Paragraph 6 c (new) 6 c. Recognises that the Union's goal of open strategic autonomy should not become a barrier to the benefits of a globally interconnected banking system; cautions against the potential risks of overly focusing on strategic autonomy in a way that could lead to isolationism or protectionism in the banking sector;
Amendment 114 #
Motion for a resolution Paragraph 7 7. Highlights th
Amendment 115 #
Motion for a resolution Paragraph 7 7. Highlights that the banking sector should be key in delivering the transition to a digitalised and carbon neutral economy and in channelling funds to renewable energies; regrets that renewable energy sectors have been hit particularly hard with the increase of interest rates, thus harming the much needed investment in the green transition;
Amendment 116 #
Motion for a resolution Paragraph 7 a (new) 7 a. Reminds that banks do not sufficiently take into account the systemic risk posed by climate change; reminds that the collapse in fossil fuels asset values could cause a crisis of an even bigger magnitude than the subprime crisis; therefore supports an update of the Capital Requirements Regulation to apply a risk weight of 1250% to new fossil fuel exposures, ensuring that such investments are fully equity-funded;
Amendment 117 #
Motion for a resolution Paragraph 7 a (new) 7 a. Calls on banks to take their commitments to the EU Green Deal and the EU Climate law seriously and to reduce their exposure to fossil fuels; underlines the importance of the EBA reports on the crucial issues of the riskiness of institutions’ exposures to ESG assets and the potential effects of an adjusted prudential treatment of these exposures, to be published by the end of 2024 and 2025;
Amendment 118 #
Motion for a resolution Paragraph 7 a (new) 7 a. Regrets the failure of financial institutions to ensure gender-balance, especially in their management bodies; calls on supervisory authorities to make use of their supervisory powers to address the lack of diversity and gender-balance in the management bodies of financial institutions;
Amendment 119 #
Motion for a resolution Paragraph 7 b (new) 7 b. Warns that high exposures to fossil fuels will become a risk for companies, with those fossil fuel assets becoming stranded assets; underlines that in order to fight this new systemic risk fossil fuel assets should be treated as ’higher risk’ assets and assigned a risk weight of 150% in line with the Basel framework;
Amendment 12 #
Motion for a resolution Recital A A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism,
Amendment 120 #
Motion for a resolution Paragraph 8 8. Regrets the lack of gender balance in the ECB Governing Council, its Supervisory Board and the SRB Board
Amendment 121 #
Motion for a resolution Paragraph 8 8. Regrets the lack of gender balance in the ECB Governing Council, its Supervisory Board and the SRB Board; calls on them to ensure that future appointments close the gap; reiterates the Parliament’s commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 122 #
Motion for a resolution Paragraph 8 a (new) 8 a. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 123 #
Motion for a resolution Paragraph 8 a (new) 8 a. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the Banking Union is to break the link between bank and sovereign risks; calls on the European Commission to present a legislative proposal introducing appropriate risk weights for sovereign exposures;
Amendment 124 #
Motion for a resolution Paragraph 8 a (new) 8 a. Deplores that, as part of the selection procedure for the Chair of the Supervisory Board of the ECB, the ECB has ignored the feedback provided by the European Parliament; urges the ECB to take duly into account the European Parliament's opinion in the upcoming selection procedure;
Amendment 125 #
Motion for a resolution Paragraph 8 b (new) 8 b. Shares the EBA's concern that sovereign exposures are material for EU banks and could become a source of potential vulnerability1a; _________________ 1a EBA. Risk Assessment of the European Banking System. December 2022. p.30
Amendment 126 #
Motion for a resolution Paragraph 8 c (new) 8c. Points out that rising public debt levels following the pandemic make an appropriate treatment of sovereign exposures more pressing;
Amendment 127 #
Motion for a resolution Paragraph 9 9. Notes that the Common Equity Tier 1 ratio increased in the first quarter of 2023
Amendment 128 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further;
Amendment 129 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further;
Amendment 13 #
Motion for a resolution Recital A A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism,
Amendment 130 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further;
Amendment 131 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further;
Amendment 132 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further;
Amendment 133 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further, but is still far from satisfactory; highlights that there are substantial differences between Member States which should be taken into consideration; calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets;
Amendment 134 #
Motion for a resolution Paragraph 10 10. Notes that the NPL ratio decreased further; calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets; calls on supervisors to also monitor the developmen of stage 2 loans;
Amendment 135 #
Motion for a resolution Paragraph 10 a (new) 10 a. Underlines that credit institutions should be encouraged to engage in proactive, preventive and meaningful debt restructuring to support debtors, when deemed appropriate, without necessarily entailing that a default shall be considered to have occurred; stresses that the current specification of what constitutes a material diminished financial obligation in case of distressed restructuring does not provide adequate flexibility to credit institution; calls for a more granular classification that takes in due consideration, among other things, the kind of concession granted, the residual maturity of the exposure and the length of the postponement; recalls that the political agreement on the revision of the CRR invites the EBA to review its guidelines on the matter by 1 January 2026; expresses the hope that the EBA will be able to review the guidelines before that final date;
Amendment 136 #
Motion for a resolution Paragraph 10 a (new) 10a. Takes note of a deteriorating macroeconomic condition; points out that European banks should prepare for a potential deterioriation in asset quality; therefore highlights the importance of prudent risk management and appropriate provisioning; invites the Commission as well as national and European supervisory authorities to prepare for a potential deterioration of asset quality;
Amendment 137 #
Motion for a resolution Paragraph 11 11.
Amendment 138 #
Motion for a resolution Paragraph 11 11. Highlights that the l
Amendment 139 #
Motion for a resolution Paragraph 11 11. Highlights that the limited impact in the European Union of the recent failure of midsized US banks proves the resilience of the EU banking sector; stresses the importance of clear, precise, crisis management plans, and the need for greater harmonisation and a level playing field for the application of crisis management rules between Member States, calls for this element to be at the forefront of the current reform; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes;
Amendment 14 #
Motion for a resolution Recital A A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needs to be supplemented by
Amendment 140 #
Motion for a resolution Paragraph 11 11. Highlights that
Amendment 141 #
Motion for a resolution Paragraph 11 11. Highlights that the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to
Amendment 142 #
Motion for a resolution Paragraph 11 11. Highlights that the limited impact
Amendment 143 #
Motion for a resolution Paragraph 11 11. Highlights that the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes; recalls that the ECB's 'Financial Stability Review 2023' emphasises the importance of taking into account the deterioration of bank balance sheets associated with the increase in interest rates and emphasises that macroprudential authorities will need to gradually strengthen capital and/or borrower-related measures; and underscores the need for continued work to enhance the regulatory framework for banks;
Amendment 144 #
11 a. Highlights that banks' exposure to domestic sovereign debt remains high, and draws attention to the risks involved; recalls that one of the main objectives of the Banking Union is to break the state- bank doom loop and the link between bank risk and sovereign risk;
Amendment 145 #
Motion for a resolution Paragraph 12 12. Welcomes the results of the 2023 EU-wide stress test and the fact that EU banks could withstand an economic downturn; notes that the exposure of banks to interest rate risk depends on their asset structure and business model; is concerned about the significant level of sovereign debt on the balance sheets of banks in the Banking Union; emphasises that the issue of regulatory treatment of sovereign exposures requires an in-depth examination within international fora and should be consistent with international standards; recalls that one of the main objectives of the Banking Union is to break the link between bank and sovereign risks;
Amendment 146 #
Motion for a resolution Paragraph 12 a (new) 12 a. Acknowledges the progresses made over the last 15 years through the establishement of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) ; calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 147 #
Motion for a resolution Paragraph 13 13. Calls for
Amendment 148 #
Motion for a resolution Paragraph 13 13. Calls for further harmonisation of the EU regulatory framework, where appropriate, promoting convergence between national authorities and using the supervisory dialogue to
Amendment 149 #
Motion for a resolution Paragraph 13 13. Calls for options for further harmonisation of the EU regulatory framework, promoting convergence between national authorities, and using the supervisory dialogue to assess the evolution of threats to the banking sector;
Amendment 15 #
Motion for a resolution Recital A A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needs to be supplemented by the creation of a European deposit insurance scheme (EDIS) with no further conditionality;
Amendment 150 #
Motion for a resolution Paragraph 13 a (new) 13 a. Recalls the need, as expressed by the chair of the European Union’s Single Resolution Board, to fully and entirely respect the write-down hierarchy in case of bank failure;
Amendment 151 #
Motion for a resolution Paragraph 13 b (new) 13 b. Recalls that the President of the ECB, Christine Lagarde, during her hearing on 20 March 2023 in the ECON Committee demanded the full application of Basel III in terms of bank capital requirements;
Amendment 152 #
Motion for a resolution Paragraph 14 14.
Amendment 153 #
Motion for a resolution Paragraph 14 14.
Amendment 154 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU;
Amendment 155 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU;
Amendment 156 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU;
Amendment 157 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel
Amendment 158 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; regrets, however, that the international framework still encompasses undesirable carve-outs; highlights that the framework will not increase prudential requirements for banks or damage their competitiveness;
Amendment 159 #
Motion for a resolution Paragraph 14 14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights that the framework will not increase prudential requirements for banks or damage their competitiveness; notes that the implementation of the Basel standards to crypto-assets is still pending; highlights that the new rules have strengthened and better specified proportionality in banking supervision; calls on the national and European supervisors to effectively apply this principle;
Amendment 16 #
Motion for a resolution Recital A a (new) A a. whereas addressing the risks arising from the problem of the overly concentrated sovereign-bank nexus would offer crucial additional stability and security for the European banking system and the customers that use it;
Amendment 160 #
Motion for a resolution Paragraph 14 a (new) 14 a. Stresses the need to support measures for the structural reform of EU G-SIBs as the only way to remove the threat that large banks pose to financial stability and, consequently, fundamentally address moral hazard risks;
Amendment 161 #
Motion for a resolution Paragraph 14 a (new) 14 a. Stresses that crypto-assets create new challenges for banks; stresses the need to further improve the MiCA Regulation, namely by including NFT and DeFi, under a so-called MiCA II, as suggested by Christine Lagarde;
Amendment 162 #
Motion for a resolution Paragraph 15 15. Notes that the non-bank financial intermediary sector is continuing to grow;
Amendment 163 #
Motion for a resolution Paragraph 15 15. Notes that the non-bank financial intermediary sector is continuing to grow;
Amendment 164 #
Motion for a resolution Paragraph 15 15. Notes that the non-bank financial intermediary sector is continuing to grow; regrets that different rules for these activities may entail significant risks; calls for an appropriate and sound regulatory approach to shadow banking
Amendment 165 #
Motion for a resolution Paragraph 15 15. Notes that the non-bank financial intermediary sector is continuing to grow; regrets that different rules for these activities may entail significant risks; calls for an appropriate regulatory approach to shadow banking, for the promotion of fair competition with banks and for the risks stemming from banks’ exposure to these activities to be addressed; stresses the need to enhance the resilience of non-bank financial intermediaries, including by elaborating specific regulatory and supervisory tools to prevent a liquidity crisis;
Amendment 166 #
Motion for a resolution Paragraph 16 16. Highlights the
Amendment 167 #
Motion for a resolution Paragraph 16 16. Highlights the importance of combining further integration with
Amendment 168 #
Motion for a resolution Paragraph 16 a (new) Amendment 169 #
Motion for a resolution Paragraph 16 b (new) 16 b. Stresses the need to enhance the transparency, comparability and quality of ESG ratings; welcomes the Commission's proposal in this regard but regrets that this proposal falls short in setting minimum requirements for ESG ratings methodologies; notes that the EBA recommends that external credit assessments integrate environmental and/or social factors as drivers of credit risk whenever relevant; calls on the European Commission to table a legislative proposal to tackle this issue as soon as possible;
Amendment 17 #
Motion for a resolution Recital A a (new) A a. whereas the main objective of the Banking Union is to safeguard the stability of the banking sector in Europe and prevent the need to bail out banks at risk of failure with taxpayers' money;
Amendment 170 #
Motion for a resolution Paragraph 16 c (new) 16 c. Calls on the EBA to change its guidelines on the Systemic Risk Buffer (SyRB) to ensure and harmonise the way competent authorities apply the SyRB to reflect ESG risks;
Amendment 171 #
Motion for a resolution Paragraph 17 17. Welcomes the SRB’s approaches to deepening resolution assessments by developing quality control measures for resolution plans and assessing whether these plans can be implemented at short notice; stresses that any impediment to resolvability identified should be dealt with appropriately, including by requiring changes to a bank’s structure and organisation if necessary;
Amendment 172 #
Motion for a resolution Paragraph 17 17. Welcomes the SRB’s approaches to deepening resolution assessments by developing quality control measures for resolution plans and assessing whether these plans can be implemented at short notice; welcomes that overall banks under the SRB’s remit have delivered good progress towards resolvability and in building up loss-absorbing capacity;
Amendment 173 #
Motion for a resolution Paragraph 17 a (new) 17 a. Recalls that achieving resolvability for all institutions should not be a 'moving target' and that all banks should be fully resolvable by the end of 2023; notes that further progress is needed for all banks;
Amendment 174 #
Motion for a resolution Paragraph 17 a (new) 17 a. Believes that prudential safeguards should be put in place in order to guarantee that banks do not get into a position where they need either a resolution or a liquidation;
Amendment 175 #
Motion for a resolution Paragraph 17 b (new) 17 b. Believes that nationalisation shall be included the toolkit at the disposal of Member States when managing a banking crisis;
Amendment 176 #
Motion for a resolution Paragraph 17 c (new) 17 c. Stresses that financial institutions that benefit from any form of public support, including capital relief measures, have to halt dividends distribution, share buybacks and variable remuneration payments;
Amendment 177 #
Motion for a resolution Paragraph 18 18.
Amendment 178 #
Motion for a resolution Paragraph 19 19.
Amendment 179 #
Motion for a resolution Paragraph 19 19. Underlines the importance of protecting creditor hierarchy in banking resolution; welcomes the joint ECB banking supervision, SRB and EBA statement regarding the full use of common equity instruments before Additional Tier 1 capital is written down; stresses that Deposit Guarantee Schemes fulfil the purpose of protecting deposits and should not be misused under no circumstance;
Amendment 18 #
Motion for a resolution Recital A a (new) A a. whereas an agreement was reached in 2020 on the creation of a backstop for the Single Resolution Fund (SRF), but has still not been implemented;
Amendment 180 #
Motion for a resolution Paragraph 19 a (new) Amendment 181 #
Motion for a resolution Paragraph 20 20.
Amendment 182 #
Motion for a resolution Paragraph 20 20.
Amendment 183 #
Motion for a resolution Paragraph 20 20.
Amendment 184 #
Motion for a resolution Paragraph 20 20.
Amendment 185 #
20.
Amendment 186 #
Motion for a resolution Paragraph 20 20. Welcomes the proposal to reform the CMDI framework following calls by Parliament
Amendment 187 #
Motion for a resolution Paragraph 20 20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for
Amendment 188 #
Motion for a resolution Paragraph 20 20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments
Amendment 189 #
Motion for a resolution Paragraph 20 20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; considers that financial stability is better preserved if small and medium-size banks with a positive public interest assessment have access to the EU-level resolution framework;
Amendment 19 #
Motion for a resolution Recital B Amendment 190 #
Motion for a resolution Paragraph 20 20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; recalls that the CMDI framework must not preclude the establishment of EDIS;
Amendment 191 #
Motion for a resolution Paragraph 20 a (new) 20 a. Opposes any proposal to weaken the minimum bail-in condition of 8% TLOF to access resolution funds as part of the current reform of the CMDI framework; stresses in particular that DGS contributions to a bank's resolution should not be taken into account when calculating the 8% threshold, as otherwise the risk would be redistributed from bail- in to industry safety nets;
Amendment 192 #
Motion for a resolution Paragraph 20 a (new) 20 a. Notes that a failing bank is only sent into resolution, when it cannot go through normal insolvency proceedings without harming public interest or causing financial instability; points out that therefore for most small banks, insolvency will be the default procedure; calls on the Commission to take this aspect into consideration when designing its CMDI proposal;
Amendment 193 #
Motion for a resolution Paragraph 20 a (new) 20 a. Stresses that financial institutions benefitting from direct State aid measures must refrain from dividend distribution, share buybacks and variable remuneration payments; calls for this temporary limitation to be established in a legally binding form;
Amendment 194 #
Motion for a resolution Paragraph 21 21. Highlights the role of the SRB and industry-funded safety nets in protecting taxpayers from paying for bailouts;
Amendment 195 #
Motion for a resolution Paragraph 21 21. Highlights the role of the SRB and industry-funded safety nets in protecting taxpayers from paying for bailouts; calls for the
Amendment 196 #
Motion for a resolution Paragraph 21 21. Highlights the role of the SRB and
Amendment 197 #
Motion for a resolution Paragraph 21 a (new) 21 a. Recalls that banks need to continue to meet their obligations and perform their key functions after the implementation of a resolution decision; is concerned that banks might face liquidity stress in resolution immediately after regaining market access; calls on EU institutions to find an agreement on establishing a credible and sufficiently sizeable liquidity provision mechanism of last resort to provide confidence and enhance predictability;
Amendment 198 #
Motion for a resolution Paragraph 22 22.
Amendment 199 #
Motion for a resolution Paragraph 22 22.
Amendment 2 #
Motion for a resolution Citation 13 a (new) – having regard to the standards of the Basel Committee on Banking Supervision on the prudential treatment of crypto-asset exposures, of 16 December 2022,
Amendment 20 #
Motion for a resolution Recital B B. whereas a completed B
Amendment 200 #
Motion for a resolution Paragraph 22 22.
Amendment 201 #
Motion for a resolution Paragraph 22 22.
Amendment 202 #
Motion for a resolution Paragraph 22 22. Regrets the lack of progress following the calls by MEPs in their statement of 7 December 2022 for negotiations on EDIS to be resumed; concurs with the ECB which supports the resumption of work to establish EDIS and does not see a need for additional pre- conditions related to risk reduction for its introduction;
Amendment 203 #
Motion for a resolution Paragraph 22 a (new) Amendment 204 #
Motion for a resolution Paragraph 23 Amendment 205 #
Motion for a resolution Paragraph 23 23. Welcomes the Commission’s efforts to clarify the scope of depositor
Amendment 206 #
Motion for a resolution Paragraph 23 23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ;
Amendment 207 #
Motion for a resolution Paragraph 23 23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ;
Amendment 208 #
Motion for a resolution Paragraph 23 23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS but should pave the way for its swift implementation; _________________ 3 OJ L 173, 12.6.2014, p. 149.
Amendment 209 #
Motion for a resolution Paragraph 23 23. Welcomes the Commission’s
Amendment 21 #
Motion for a resolution Recital B B. whereas a completed BU
Amendment 210 #
Motion for a resolution Paragraph 23 a (new) 23 a. Calls on the Commission to present an ambitious and comprehensive revision of the crisis management and deposit guarantee framework; points out that this must take into account the specificities of national banking sectors; inter alia with a view to maintaining a functioning framework for institutional protection schemes to implement preventive measures; points out that the protection of taxpayers' money is one of the main objectives of the resolution framework;
Amendment 211 #
Motion for a resolution Paragraph 24 Amendment 212 #
Motion for a resolution Paragraph 24 24.
Amendment 213 #
Motion for a resolution Paragraph 24 24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account; calls for a
Amendment 214 #
Motion for a resolution Paragraph 24 24. Underlines the need for risk-based contributions to
Amendment 215 #
Motion for a resolution Paragraph 24 24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account, meaning a differentiation in DGSD context between preventive measures in general and preventive measures done by systems certified according to Article 113(7) CRR; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of funds;
Amendment 216 #
Motion for a resolution Paragraph 24 a (new) 24 a. Notes that banks' risk positions against domestic government debt remain high; reiterates that one of the main objectives of the Banking Union is to break the link between banking and sovereign risks and that this requires, in particular, stronger risk pricing of government bonds in banking regulation;
Amendment 217 #
Motion for a resolution Paragraph 25 25.
Amendment 218 #
25. Notes that effective risk reduction is
Amendment 219 #
Motion for a resolution Paragraph 25 25. Notes that effective risk reduction is
Amendment 22 #
Motion for a resolution Recital B B. whereas a
Amendment 220 #
Motion for a resolution Paragraph 25 25. Notes that effective risk reduction is key for EDIS;
Amendment 221 #
Motion for a resolution Paragraph 25 25.
Amendment 222 #
Motion for a resolution Paragraph 25 25. Notes that effective risk reduction is key for EDIS and recognises it as a precondition for the establishment of risk- sharing mechanisms such as EDIS; highlights in this regard that proper regulatory treatment of sovereign exposure is required; emphasises that capital requirements must reflect the actual risk borne by banks in the market; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS;
Amendment 223 #
Motion for a resolution Paragraph 25 25. Notes that effective risk reduction is key for EDIS and that significant progress has been made since 2015 and the initial Commission's proposal; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS; urges co- legislator to seize this opportunity to make progress on establishing an EDIS;
Amendment 224 #
Motion for a resolution Paragraph 25 a (new) 25a. Recognises the risk-mitigating effect of institutional protection schemes and highlights that this should be preserved under any EDIS;
Amendment 23 #
Motion for a resolution Recital B B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and protection and facilitate access to financing for economic actors;
Amendment 24 #
Motion for a resolution Recital B B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing whilst ensuring that public funds are not used to bail out the banking sector;
Amendment 25 #
Motion for a resolution Recital B a (new) B a. whereas a stable, resilient, dynamic, and competitive banking sector is vital for economic growth, for supporting small and medium businesses, for increasing the possibility of home- ownership, for innovation, for investment, and for the widening of economic opportunity for all;
Amendment 26 #
Motion for a resolution Recital B a (new) B a. whereas a decade and a half after the financial crisis, banks are still ‘too big to fail’ and ‘too interconnected’ to fail;
Amendment 27 #
Motion for a resolution Recital C C. whereas EU banks have withstood the impact of Russian aggression; whereas they are key for implementing sanctions against Russia; whereas further coordination is needed to avoid circumvention of sanctions; whereas EU banks play a pivotal role in ensuring the ongoing implementation of and compliance with the sanctions imposed by the EU against Russia in response to the invasion;
Amendment 28 #
Motion for a resolution Recital C C. whereas EU banks have withstood the impact of Russian aggression; whereas they are key for implementing sanctions against Russia; whereas
Amendment 29 #
Motion for a resolution Recital C a (new) C a. whereas climate change, environmental degradation and the transition to a low-carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors;
Amendment 3 #
Motion for a resolution Citation 14 a (new) – having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 30 #
Motion for a resolution Recital D D. whereas agreement on a European Deposit Insurance Scheme (EDIS) has not yet been achieved; whereas, following calls from Parliament, the Commission proposed a reform of the crisis management and deposit insurance (CMDI) framework, while recognising that this framework should not be considered as a replacement for a EDIS;
Amendment 31 #
Motion for a resolution Recital E Amendment 32 #
Motion for a resolution Recital E E. whereas
Amendment 33 #
Motion for a resolution Recital E E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness;
Amendment 34 #
Motion for a resolution Recital E E. whereas fragmentation
Amendment 35 #
Motion for a resolution Recital E E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas, nevertheless, consumer banking in some Member States is still dominated by a small number of banks; whereas the profitability gap between EU and US banks has widened;
Amendment 36 #
Motion for a resolution Recital E E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness and results in reduced services and offers and often increased costs for EU citizens; whereas the profitability
Amendment 37 #
Motion for a resolution Recital E E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened
Amendment 38 #
Motion for a resolution Recital E E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened; taking into account the heterogeneous structure of the banking markets within the EU; highlights the ambition not to enforce the too big to fail problem;
Amendment 39 #
Motion for a resolution Recital E a (new) E a. whereas a fully developed Banking Union would boost the competitiveness of the banking sector, promote cross-border mergers and increase its stability; whereas the completion of the Banking Union would improve consumer choice and facilitate a broader access to credit;
Amendment 4 #
Motion for a resolution Citation 14 b (new) – having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 40 #
Motion for a resolution Recital E a (new) E a. whereas the EU banking sector has shown rising profitability, notably due to higher interest rates and as a result of the increased ECB deposit rate in combination with the presence of excess reserve;
Amendment 41 #
Motion for a resolution Recital E a (new) E a. whereas consumers of banking services should be better protected by granting them access to transparent fee structures, fair lending practices, and enhanced customer data protection;
Amendment 42 #
Motion for a resolution Recital E b (new) E b. whereas the rise in interest rates has positively impacted the profit margins of banks but had also lead to a deterioration of the balance sheet of certain banks due to unrealised capital losses;
Amendment 43 #
Motion for a resolution Recital E b (new) E b. whereas the EU largely remains a bank-based economy and the completion of the Capital Markets Union is key to diversify access to finance by households, companies and SMEs;
Amendment 44 #
Motion for a resolution Recital F F. whereas
Amendment 45 #
Motion for a resolution Recital F F. whereas a strong banking sector is key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and
Amendment 46 #
Motion for a resolution Recital F F. whereas a strong banking sector is key for delivering economic growth, recovery from recent crises, financing small and medium-sized enterprises (SMEs) and start-ups and the transition to a
Amendment 47 #
Motion for a resolution Recital F F. whereas a strong banking sector is key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and the urgent transition to a green and digital economy;
Amendment 48 #
Motion for a resolution Recital G G. whereas the non-performing loan (NPL) ratio slightly decreased to 2.24% in the first quarter of 2023
Amendment 49 #
Motion for a resolution Recital G G. whereas although the non- performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine, it remains a source of concern;
Amendment 5 #
Motion for a resolution Citation 15 a (new) – having regard to the EBA report on the role of environmental and social risks in the prudential framework,
Amendment 50 #
Motion for a resolution Recital G G. whereas the banking sector faces further risks following the pandemic and the invasion, particularly in relation to asset quality deterioration; whereas the non-performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine;
Amendment 51 #
Motion for a resolution Recital G G. whereas the non-performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine;
Amendment 52 #
Motion for a resolution Recital G a (new) G a. whereas breaking the state-bank doom loop must be a priority for the Banking Union;
Amendment 53 #
Motion for a resolution Recital H H. whereas
Amendment 54 #
Motion for a resolution Recital H H. whereas EU co-legislators
Amendment 55 #
Motion for a resolution Recital H H. whereas EU legislators negotiated rules to implement Basel III standards
Amendment 56 #
Motion for a resolution Recital H a (new) H a. whereas the digitalisation of finance provides important opportunities for the banking sector and has brought about important technological advances in the EU banking sector through increased efficiency in the provision of banking services and a greater appetite for innovation, it also poses challenges, including with regard to data protection, reputational risks, AML, and consumer protection concerns;
Amendment 57 #
Motion for a resolution Recital H b (new) H b. whereas financial institutions rely increasingly on the use of information and communications technology (ICT) which heightens the risk of cyber-attacks; whereas the EU banking sector must increase its cyber resilience to ensure that ICT systems can withstand various types of cyber security threats;
Amendment 58 #
Motion for a resolution Recital H c (new) H c. whereas one of the key objectives of the Banking Union is that taxpayers should not bear the cost of remedial action when a bank fails;
Amendment 59 #
Motion for a resolution Recital H d (new) H d. whereas the Banking Union should help to address the bank-sovereign nexus or doom loop, which continues to exist; whereas the level of sovereign exposure has been growing in a number of banks; whereas the prudential treatment of sovereign debt should be consistent with international standards;
Amendment 6 #
Motion for a resolution Citation 25 a (new) Amendment 60 #
Motion for a resolution Recital H e (new) H e. whereas the EU and the UK have signed a Memorandum of Understanding on Financial Services Regulatory Cooperation, and this cooperative approach should underpin long-term EU- UK relations particularly in the area of banking; whereas the Commission has again extended its temporary permit allowing EU banks and fund managers to use UK clearing houses;
Amendment 61 #
Motion for a resolution Recital I Amendment 62 #
Motion for a resolution Recital I I. whereas
Amendment 63 #
Motion for a resolution Recital I I. whereas r
Amendment 64 #
Motion for a resolution Recital I I. whereas
Amendment 65 #
Motion for a resolution Recital I a (new) I a. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;
Amendment 66 #
Motion for a resolution Recital I a (new) I a. whereas the overall level of capital held by the largest banks in the EU remains not only insufficient to cope with a major new market event, but also below that of their global counterparts;
Amendment 67 #
Motion for a resolution Recital I b (new) I b. whereas the fall of Credit Suisse has demonstrated that large (global and other) systemically important institutions still are far from being resolvable and that taxpayers' money is still at risk;
Amendment 68 #
Motion for a resolution Recital I c (new) I c. whereas Member States have circumvented the application of bail-in in the vast majority of bank failures within the Banking Union since 2015, while the Single Resolution Board has adopted only few resolution decisions since its creation;
Amendment 69 #
Motion for a resolution Recital I d (new) I d. whereas although a political agreement was reached in 2020, a backstop to the single resolution fund (SRF) is still missing;
Amendment 7 #
Motion for a resolution Recital -A (new) -A. whereas the main purpose in the designing of banking sector economic policies should be to minimise: (1) the likelihood of bank failures, (2) the economic impact of failing banks and (3) the risk of systemic banking crises;
Amendment 70 #
Motion for a resolution Recital I e (new) I e. whereas, according to the latest available data, 16 of 36 DGS in the EU were below their required (minimum) funding level;
Amendment 71 #
Motion for a resolution Recital I f (new) I f. whereas climate-related risks are likely to trigger a new crisis that would destabilise the EU banking sector and be combined with the impending climate crisis;
Amendment 72 #
Motion for a resolution Paragraph -1 (new) -1. Believes that a well-diversified banking sector, including small and local banks, as well as public ones, offers the best solution for companies and households;
Amendment 73 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere;
Amendment 74 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere;
Amendment 75 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue
Amendment 76 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue
Amendment 77 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue reducing their exposure to energy intensive corporates and energy derivatives;
Amendment 78 #
Motion for a resolution Paragraph 1 1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue reducing their exposure to energy intensive and fossil fuel corporates;
Amendment 79 #
Motion for a resolution Paragraph 1 a (new) 1 a. Stresses the need to increase capital requirements for climate-risk exposures, notably by implementing a ’one-for-one’ capital rule, whereby each euro of financing for new fossil fuel exploration is matched by one euro of lender capital ;
Amendment 8 #
Motion for a resolution Recital -A a (new) -A a. whereas the architecture of the EMU created the conditions for a credit- led growth in peripheral Member States, leading to a disproportionate dependence on the banking sector and overall private indebtedness;
Amendment 80 #
Motion for a resolution Paragraph 2 2. Recalls that the banking sector plays a key role in the implementation of sanctions and in monitoring compliance; recalls
Amendment 81 #
Motion for a resolution Paragraph 2 2. Recalls that the banking sector plays a key role in the implementation of sanctions and in monitoring compliance; calls on the Commission to create a database at EU level to foster coordination among banks, close loopholes in Member States’ implementation of sanctions and assess how EU banks implement sanctions; considers that the upcoming anti-money laundering Authority (AMLA) has a crucial role to play to ensure a consistent application of the EU targeted financial sanctions;
Amendment 82 #
Motion for a resolution Paragraph 3 3.
Amendment 83 #
Motion for a resolution Paragraph 3 3. Calls on
Amendment 84 #
Motion for a resolution Paragraph 3 3. Calls on institutions to assist the remaining EU banks operating in Russia
Amendment 85 #
Motion for a resolution Paragraph 3 3. Calls on
Amendment 86 #
Motion for a resolution Paragraph 3 a (new) 3 a. Recalls that a key goal of the Banking Union is the security of the banking system and the prevention of bank bailouts by taxpayers; recognises that through the establishment of the SSM and the SRM, Europe's banks are now in a strong position to withstand financial shocks; notes, however, that the third pillar of Banking Union (EDIS) is still pending and therefore supports efforts to progress the Banking Union;
Amendment 87 #
Motion for a resolution Paragraph 3 a (new) 3 a. Highlights that the Banking Union remains an essential complement to the Economic and Monetary Union (EMU) and therefore the internal market;
Amendment 88 #
Motion for a resolution Paragraph 4 Amendment 89 #
Motion for a resolution Paragraph 4 4. Asks the Commission to retain the completion of the
Amendment 9 #
Motion for a resolution Recital A A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanisms,
Amendment 90 #
Motion for a resolution Paragraph 4 4. Asks the Commission to retain the completion of the BU and the Capital Markets Union as key priorities for its next mandate; highlights that both projects offer households and SMEs that are still largely reliant on bank credit to foster investments and job creation access to broader funding, increase financial stability, reduce the impact of economic downturns,
Amendment 91 #
Motion for a resolution Paragraph 4 4. Asks the Commission to retain the
Amendment 92 #
Motion for a resolution Paragraph 4 4. Asks the Commission to retain the completion of the BU and the Capital Markets Union as key priorities now and for its next mandate; highlights that both projects offer households and SMEs access to broader funding, increase financial stability, reduce the impact of economic downturns, fund the transition to a green and digital economy and unlock the EU’s growth potential;
Amendment 93 #
Motion for a resolution Paragraph 4 a (new) 4 a. Considers that the doom loop between sovereigns and banks requires not only the completion of the Banking Union, but above all a change in the regulatory treatment of sovereign exposures;
Amendment 94 #
Motion for a resolution Paragraph 4 a (new) 4 a. Calls for the adoption of an area- wide safe asset in order to expand banks portfolios and reduce the so-called doom- loop, as well as to boost the euro’s international role;
Amendment 95 #
Motion for a resolution Paragraph 5 5.
Amendment 96 #
Motion for a resolution Paragraph 5 5.
Amendment 97 #
Motion for a resolution Paragraph 5 5. Warns that recent increases in the profitability of EU banks are not enough to ensure their competitiveness;
Amendment 98 #
Motion for a resolution Paragraph 5 5. Warns that recent increases in the short-term profitability of EU banks are not enough to ensure their long-term competitiveness; highlights that fragmentation limits banks’ ability to undertake strategic investments, to deliver efficiency gains that will improve the value for money for all their customers, and to foster the development of European capital markets;
Amendment 99 #
Motion for a resolution Paragraph 5 5. Warns that recent increases in the profitability of EU banks (annualised return on equity is up to 9.56% in the first quarter of 2023, while in the same period of 2022 it was 7.68%) are not enough to ensure their competitiveness; highlights that fragmentation limits banks’ ability to undertake strategic investments;
source: 755.012
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History
(these mark the time of scraping, not the official date of the change)
2023-12-13Show (2) Changes | Timetravel
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2023-09-23Show (1) Changes | Timetravel
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2023-09-16Show (1) Changes | Timetravel
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2023-07-22Show (1) Changes | Timetravel
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2023-06-26Show (1) Changes | Timetravel
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2023-06-23Show (1) Changes | Timetravel
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2023-06-20Show (1) Changes | Timetravel
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2023-06-17Show (5) Changes
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