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8 Amendments of Astrid LULLING related to 2012/0029(COD)

Amendment 331 #
Astrid LULLING
Proposal for a regulation
Article 16 – paragraph 3
3. An authorised CSD shall not be overexposed to any risks related to the provision of banking type of ancillary services by the credit institution designated to provide such services in accordance with Title IV.
2012/11/12
Committee: ECON
Amendment 334 #
Astrid LULLING
Proposal for a regulation
Article 16 – paragraph 4
4. An authorised CSD may only have a participation in a legal person whose activities are limited to the provision of services set out in Sections A and B of the Annex.deleted
2012/11/12
Committee: ECON
Amendment 527 #
Astrid LULLING
Proposal for a regulation
Article 52 – paragraph 1
1. A CSD shall notwhich wishes to provide itself any banking type of ancillary services set out in Section C of the Annex shall be required to obtain additional authorisation as a credit institution, in accordance with Directive 20XX/XX/EC (CRD IV), from the competent authority of the Member State where it is established before commencing its activities.
2012/11/12
Committee: ECON
Amendment 534 #
Astrid LULLING
Proposal for a regulation
Article 52 – paragraph 2
2. By way of derogation from paragraph 1, when a national competent authority referred to in Article 53(1) of this Regulation is satisfied that a CSD has all the necessary safeguards in place to allow it to exercise ancillary services, the competent authority may submit a request to the Commission to allow this CSD also to carry out the ancillary services set out in Section C of the Annex. This request shall include: a) evidence justifying the request, explaining in detail the arrangements the CSD has put in place to deal with all associated risks; b) a reasoned assessment that this solution is the most effective means to ensure systemic resilience; c) an analysis of the expected impact on the relevant financial market and financial stability. Following a detailed impact assessment, a consultation of the undertakings concerned and after taking into account the opinions of the EBA, the ESMA and the ECB, the Commission shall adopt an implementing decision in accordance with the procedure referred to in Article 66. The Commission shall give reasons for its implementing decision. A CSD which benefits from a derogation shall be authorised as a credit institution as provided in Title II of Directive 2006/48/EC. This authorisation shall be limited exclusively to the provision of the banking type of ancillary services that it is authorised to provide in accordance with paragraph 4 and shall imply the fulfilment of the prudential and supervision requirements provided in Article 57 and 58.deleted
2012/11/12
Committee: ECON
Amendment 554 #
Astrid LULLING
Proposal for a regulation
Article 52 – paragraph 3
3. A CSD that intends to settle the cash leg of all or part of its securities settlement system in accordance with Article 37(2) of this Regulation shall obtain authorisation to designate for this purpose an authorised credit institution as provided in Title II of Directive 2006/48/EC, unless the competent authority referred to in Article 53(1) of this Regulation demonstrates, based on the available evidence, that the exposure of one credit institution to the concentration of risks under Article 57(3) and (4) of this Regulation is not sufficiently mitigated. In the latter case, the competent authority referred to in Article 53(1) may require the CSD to designate more than one credit institution. The designated credit institutions shall be considered as settlement agents.deleted
2012/11/12
Committee: ECON
Amendment 570 #
Astrid LULLING
Proposal for a regulation
Article 52 – paragraph 4
4. The authorisation referred to in paragraph 31 shall cover the ancillary services set out in Section C of the Annex that the designatedCSD licensed as a credit institution or a CSD that has been granted a derogation under paragraph 2 of this Article may want to provide for its participants. under paragraph 1 of this Article may want to provide for its participants. The CSD credit institution shall only be authorised to provide the services listed in Annex 1 of Directive 20XX/XX/CE (CRD IV) points 1, 2, 4, 6, 7b and 7e. It shall not be authorised to provide any of the services listed in points 3, 5, 7 (except for 7b and 7e) and points 8 to 15, unless otherwise specified in section C of the Annex.
2012/11/12
Committee: ECON
Amendment 578 #
Astrid LULLING
Proposal for a regulation
Article 52 – paragraph 5
5. Whenever the CSD and the designated credit institution belongs to a group of undertakings ultimately controlled by the same parent undertaking, the authorisation as provided in Title II of Directive 2006/48/EC of such designated credit institution shall be limited exclusively to the provision of the banking type of ancillary services that it is authorised to provide in accordance with paragraph 3 of this Article. The same requirement applies in respect of a CSD that has been granted a derogation under paragraph 21 of this Article.
2012/11/12
Committee: ECON
Amendment 668 #
Astrid LULLING
Proposal for a regulation
Annex 1 – section C – point 1
1. The CSD credit institution shall only provide the services listed in Annex 1 of Directive 20XX/XX/CE (CRD IV), points 1, 2, 4, 6, 7b and 7e, such as: Banking type of services for the participants to a securities settlement system related to the settlement service, such as (a) Providing cash accounts; (b) Aaccepting cash deposits; (c) Providing cash creditin accordance with Annex 1 (CRD IV) section 1); (db) Llending securities. and cash (in accordance with Annex 1 (CRD IV) section 2) 2. Banking type of services related to the other core or ancillary services listed in Sections A and B, such as: (a) Providing cash accounts for settlement and accepting cash deposits from the holders of securities accounts; (b) Lending securities to the holders of securities accounts; (in accordance with Annex 1( CRD IV) section 4 and section 7b); (b) Lending securities to the holders of securities accounts (in accordance with Annex 1 (CRD IV) section 6 and section 7e); (c) Banking type of services facilitating the processing of corporate actions, such as: i) Pre-financing income and redemption proceeds; ii) Pre-financing tax reclaims (in accordance with Annex 1 (CRD IV) section 2).
2012/11/12
Committee: ECON
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