[ParlTrack]

Motion for a resolution
Annex – recommendation 2 – point d

(d) ~~Amend~~The EU rules on deposit guarantees ~~to introduce obligatory~~should be amended to support further development of ex-ante schemes financed by contributions from financial ~~institutions and administered independently of these~~ institutions. The level of refund should be significantly increased and made available to retail clients within a clearly defined and short timeframe.

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 2 – point g

(g) Introduce a small, special tax on financial transactions and give the Commission a mandate to strive for an international agreement committing all signatories to impose such a tax on financial transactions. Revenues should be used to finance the deposit and insurance guarantee schemes as well as risk absorbers.deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 - point 3.2

~~Point 3.2.~~deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point a

(a) By Autumn 2008 ~~a regulation shall require transforming the existing Lamfalussy Level 3 committees i~~the Commission should presento a ~~configuration of EU supervision and giving the Lamfalussy Level 3 committees the status of supervisory agencies with an executive board (similar to the Eurosystem) and~~review of decisions taken by the existing Lamfalussy Level 3 committees in order to enforce their tasks and to ensure appropriate staffing and resources.

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point e

(e) It shall be possible to decide on the basis of a QMV system that takes into account the relative size of the financial sector and the GDP of the Member State; this procedure should be used both for decisions on supervisory convergence issues and for the advice to the Commission on legislation and regulation.deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point g

(g) The regulation should also provide for a presidium for the configuration of EU supervision consisting of f~~ive~~our persons. It should be composed of the chairs of the three supervisory ~~agenci~~committees. An independent chair should be appointed for a five-year term by the Commission after consultation of Parliament and Council. ~~The chair of the CCMC should act as the vice chair.~~

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – title

~~3.4. EU financial stability oversight body~~deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point a

(a) By Autumn 2008 a regulation shall require establishing an EU financial stability oversight body that is able to collect and analyse micro and macro prudential information with the central banks. This must be linked to monetary and macro-economic information. The oversight body should also act as a rapid reaction force in crisis situations with a systemic impact for the EU.deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point b

(b) The oversight body should be composed of the chairs of the three Lamfalussy Level 3 supervisory committees, the chair of the presidium, the chair of the CCMC, a representative of the European System of Central Banks (which is composed of all EU central banks) and a representative of the Eurosystem and the (Vice)President of the ECB charged with prudential supervision. The ECB ((Vice)-President) could chair the oversight body and the chair of the presidium of the configuration of EU supervision could be vice-chair.deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point c – introductory part

~~(c) The main tasks should be to:~~deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point c– points i to iv

(i) establish a proper system of supervisory data collection and exchange; (ii) analyse and elaborate these data; (iii) develop procedures for provision and collection of confidential data; (iv) provide early warning signals about dynamics that can endanger the stability of the financial system;deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point c– point v

~~(v) act as rapid reaction force in case of a threat to financial stability;~~deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point c– point vi

~~(vi ) represent the EU in international bodies of supervisors such as the Financial Stability Forum and to be the counterpart for supervisors in other parts of the world.~~deleted

2008/07/14
Committee: ECON

Karsten Friedrich HOPPENSTEDT

Motion for a resolution
Annex – recommendation 3 – point 3.4 – point d

~~(d) The oversight body should be located within the ECB and its budget and staff should be provided by the ECB.~~deleted

2008/07/14
Committee: ECON

14 Amendments of Karsten Friedrich HOPPENSTEDT related to 2008/2148(INI)

ParlTrack - 2011-2024