20 Amendments of Ildikó GÁLL-PELCZ related to 2012/0150(COD)
Amendment 371 #
Proposal for a directive
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. Member States shall provide that if competent authorities and, where relevant, resolution authorities consider that the failure of a specific institution due to, among other things, its size, its business model or its interconnectedness to other institutions, or to the financial system in general, will not have a negative effect on financial markets, other institutions or on funding conditions, either of the following requirements may be waived: i. the requirement for an institution to maintain recovery plans provided for in article 5(1) and the requirement to maintain a resolution plan in article 9(1), or ii. the requirement to update recovery and resolution plans at least annually provided for in Article 5(2) and the requirement to review the resolution plan at least annually provided for in Article 9(3). Following a change to the legal or organisational structure, business or financial situations of the institutions referred to in the first subparagraph, the competent authority and, where relevant, resolution authorities shall assess the continued relevance of the waivers provided for above.
Amendment 463 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Member States shall ensure that parent undertakings or institutions that are subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC draw up and submit to the consolidating supervisor a group recovery plan that. Group recovery plans shall includes both a recovery plan for the whole group, including for the companies referred to in points (c) and (d) of Article 1, as well as a recovery plans for each institution that is part of the groupthe individual significant entities drawn up in accordance with Article 4 paragraph 1a and the provisions laid down in Article 5, paragraphs 3 to 5.
Amendment 498 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1
Article 8 – paragraph 2 – subparagraph 1
The competent authorities shall endeavour to reach the joint decision within a period of four months from the date of the transmission by the consolidating supervisor of the group recovery plan according to Article 7(2).
Amendment 503 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2
Article 8 – paragraph 2 – subparagraph 2
In the absence of a joint decision between the competent authorities within four months, the consolidating supervisoreach competent authority shall make its own decision on the review and assessment of the group recovery plan of the institution in its jurisdiction or on the measures required in accordance with Article 6(4)-(4a). The decision shall be set out in a document containing the fully reasoned decision and should take into account the views and reservations of the other competent authorities expressed during the four-month period. Each competent authority shall notify its decision to the consolidating supervisor, and to the institution in its jurisdiction. The consolidating supervisor shall notify the decision to the parent undertaking of the institution subject to consolidated supervision and to the other competent authorities. The decision of the consolidating supervisor shall take into account the need for the supervisory activity to be planned or coordinated by the competent authorities concerned, and of the potential impact on the stability of the financial system in the Member States concerned. EBA may assist upon request the competent authorities in reaching an agreement in accordance with Article 19(1) second subparagraph of Regulation No (EC) 1093/2010.
Amendment 509 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 3
Article 8 – paragraph 2 – subparagraph 3
EBA may on its own initiativeat the request of the competent authorities concerned assist the competent authorities in reaching an agreement in accordance with Article 19 of Regulation (EU) No 1093/2010.
Amendment 511 #
Proposal for a directive
Article 8 – paragraph 3
Article 8 – paragraph 3
Amendment 567 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that resolution authorities in consultation with the relevant competent authorities and in accordance with paragraph 2 of Article 12, draw up group resolution plans. Group resolution plans shall include both a plan for resolution at the level of the parent undertaking or institution subject to consolidated supervision pursuant to Article 125 and 126 of Directive 2006/48/EC and the resolution plans for the individual subsidiary institutions drawn up in accordance with Article 94 paragraph 1a and the provisions laid down in Article 9, paragraphs 2 to 5 of this Directive. The group resolution plans shall also include plans for the resolution of the companies referred to in points (c) and (d) of Article 1 and plans for the resolution of institutions with branches in other Member States in compliance with the provisions of Directive 2001/24/EC.
Amendment 583 #
Proposal for a directive
Article 11 – paragraph 3 – point e
Article 11 – paragraph 3 – point e
(e) identify how the group resolution actions could be financed and, where appropriate, set out principles for sharing responsibility for that financing between sources of funding in different Member States. The plan shall not assume extraordinary public financial support besides the use of the financing arrangements established in accordance with Article 91. Those principles shall be set out on the basis of equitable and balanced criteria and shall take into account, in particular,among others, the amount of risk weighted assets of the different entities of the group as well as the economic impact of the resolution in the Member States affected, and the distribution of the supervisory powers between the different competent authorities, and proportion of the cost of resolution measures on institutions of the group with respect to the total cost of the resolution action.
Amendment 596 #
Proposal for a directive
Article 12 – paragraph 4 – subparagraph 1
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 of the subsidiary institutions. The resolution authorities shall make a joint decision within a period of four months from the date of the transmission by the group level resolution authority of the information referred to in the second subparagraph of paragraph 1.
Amendment 602 #
Proposal for a directive
Article 12 – paragraph 4 – subparagraph 2
Article 12 – paragraph 4 – subparagraph 2
In the absence of such a joint decision between the resolution authorities within four months, the group leveleach resolution authority shall make its own decision. The decision on the resolution plan of the institutions in its jurisdiction shall be set out in a document containing the fully reasoned decisions and shall take into account the views and reservations of the other competent authorities expressed during the four- month period. Each resolution authority shall notify its decision to the group level resolution authority, to other relevant resolution authorities, and to the concerned credit institutions in its jurisdiction. Where a resolution authority makes such a decision, it must consider the impact of that action on financial stability in other Member States. The group level resolution authority shall provide the decision to the parent undertakings or institution which is subject to consolidated supervision and to other resolution authorities.
Amendment 608 #
Proposal for a directive
Article 12 – paragraph 4 – subparagraph 3
Article 12 – paragraph 4 – subparagraph 3
EBA may upon its own initiativerequest assist the competentresolution authorities in reaching an agreement in accordance with Article 19(1) second subparagraph of Regulation (EU) No 1093/2010.
Amendment 713 #
Proposal for a directive
Article 15 – paragraph 6 – subparagraph 1
Article 15 – paragraph 6 – subparagraph 1
In the absence of a joint decision between resolution authorities within four months from the date of submission of the report referred to in paragraphs 1 or 2, the group leveleach resolution authority shall make its own decision on the appropriate measures to be taken in accordance with Article 14(3) in relation to the group as a wholeinstitution in its jurisdiction.
Amendment 718 #
Proposal for a directive
Article 15 – paragraph 6 – subparagraph 2
Article 15 – paragraph 6 – subparagraph 2
The decision shall be set out in a document containing a full reasoning and shall take into account the views and reservations of the other resolution authorities expressed during the four months period. The decision shall be providedEach competent authority shall notify its decision to the group level resolution authority and to the concerned credit institution in its jurisdiction. The group level resolution authority shall notify the decision to the parent undertaking orf the institution which is subject to consolidated supervision by the group leveland to the other resolution authorityies.
Amendment 723 #
Proposal for a directive
Article 15 – paragraph 6 – subparagraph 3 a (new)
Article 15 – paragraph 6 – subparagraph 3 a (new)
The decision of the group level resolution authority shall take account of the need for resolution to be planned or coordinated by the resolution authorities concerned, and of the potential impact on the stability of the financial system in the Member States concerned. EBA may upon request assist the competent authorities in reaching an agreement in accordance with Article 19(1) second subparagraph of Regulation No (EC) 1093/2010.
Amendment 727 #
Proposal for a directive
Article 15 – paragraph 6 – subparagraph 4
Article 15 – paragraph 6 – subparagraph 4
Amendment 755 #
Proposal for a directive
Article 17 – paragraph 5
Article 17 – paragraph 5
5. In the absence of a joint decision between the competent authorities within four months, the consolidating supervisor shall make its own decision on the applshall make their own decision on the application, in relation to the credit institutions in their jurisdication. The decision shall be set out in a document containing the full reasoning and shall take into account the views and reservations of the other competent authorities expressed during the four- month period. The consolidating supervisormpetent authorities shall notify their decisions to the applicant and the other competent authorities.
Amendment 757 #
Proposal for a directive
Article 17 – paragraph 6
Article 17 – paragraph 6
Amendment 1184 #
Proposal for a directive
Article 39 – paragraph 5
Article 39 – paragraph 5
5. Resolution authorities shallMember States shall designate the relevant authority that require and verify that institutions maintain the aggregate amount provided for in paragraph 1, and take any decision pursuant to paragraph 4 in the course of developing and maintaining resolution plans.
Amendment 1440 #
Proposal for a directive
Article 92 – paragraph 1 – subparagraph 1 – introductory part
Article 92 – paragraph 1 – subparagraph 1 – introductory part
The financing arrangements established in accordance with Article 91 may be used by the resolution authority when applying the resolution tools, forfor the sake of the resolution objectives when applying the resolution tools, in particular for but not limited to the following purposes:
Amendment 1574 #
Proposal for a directive
Article 98 – paragraph 2
Article 98 – paragraph 2
2. For the purposes of paragraph 1, the group level resolution authority, in consultation to the resolution authorities of the institutions that are part of the group, shall establish, if necessary before taking any resolution action, a financing plan based on general principles of mutualisation as set out in point (e) of Article11 (2) determining the total financial needs for the financing of the group resolution as well as the modalities for that financing. The financing plan shall be proportionate, taking into account in particular the cost of resolution measures on entities of the group with respect to the total cost of the resolution action for the group as a whole.