Activities of Constance LE GRIP related to 2013/0253(COD)
Plenary speeches (1)
Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (debate)
Amendments (8)
Amendment 48 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) At the request of the parliaments of the participating Member States, it should be possible for the relevant committees of the national parliaments in question to hold a hearing, in the presence of the competent national authority, with a representative of the Board.
Amendment 49 #
Proposal for a regulation
Recital 26
Recital 26
(26) In order to ensure rapidthat resolution action is started rapidly when it becomes necessary, the Board should closely monitor, in cooperation with the relevant competent authority or the ECB, the situation of the institutions concerned and the compliance of those institutions with any early intervention measure taken in their respect.
Amendment 50 #
Proposal for a regulation
Recital 27
Recital 27
(27) In order to minimise disruption to the financial market and to the economy, the resolution process should be accomplished in a very short time. The Commission should, throughout the resolution procedure, have access to any information which it deems necessary to take an informed decision in the resolution process. Where the Commission decides to put an institution under resolution, the Board should immediately adopt a resolution scheme establishing the details of the resolution tools and powers to be applied, and the use of any financing arrangements.
Amendment 56 #
Proposal for a regulation
Recital 36
Recital 36
(36) TOn the basis of the draft resolution plans prepared by the Board, the Commission should provide the framework for the resolution action to be taken depending on the circumstances of the case and should be able to designate for use all necessary resolution tools. Within that clear and precise framework, the Board should decide on the detailed resolution scheme rapidly and effectively. The relevant resolution tools should include the sale of business tool, the bridge institution tool, the bail-in tool and the asset separation tool, which are also provided for by Directive [ ]. The framework should also make it possible to assess whether the conditions for the write- down and conversion of capital instruments are met.
Amendment 57 #
Proposal for a regulation
Recital 39
Recital 39
(39) An rapid and effective resolution regime should minimise the costs of the resolution of a failing institution borne by the taxpayers. It should also ensure that even large institutions of systemic importance can be resolved without jeopardising financial stability. The bail-in tool achieves that objective by ensuring that shareholders and creditors of the entity suffer appropriate losses and bear an appropriate part of those costs. To this end, statutory debt write down powers should be included in a framework for resolution as an additional option in conjunction with other resolution tools, as recommended by the Financial Stability Board.
Amendment 65 #
Proposal for a regulation
Article 41 – paragraph 6
Article 41 – paragraph 6
6. The Board shall reply orally or in writing to questions addressed to it by the European Parliament or by the Council, according to its own procedures, in the presence of representatives from any participating Member States whose currency is not the Euro. The Board shall provide replies within a reasonable period to questions addressed to it.
Amendment 69 #
Proposal for a regulation
Article 52 – paragraph 4
Article 52 – paragraph 4
4. The Executive Director and the Deputy Executive Director shall be appointed on the basis of merit, skills, knowledge of banking and financial matters, of experience relevant to financial supervision and regulation. Appointments shall also be based as far as possible on the principle of gender equality.
Amendment 71 #
Proposal for a regulation
Article 52 – paragraph 5
Article 52 – paragraph 5
5. After hearing the Board, in its plenary session, the Commission shall propose a list of candidates to the Council and the European Parliament for the appointment of the Executive Director and the Deputy Executive Director. The Council shall appoint the Executive Director and the Deputy Executive Director after hearingapproval by the European Parliament.