BETA

50 Amendments of Pedro SILVA PEREIRA related to 2016/0362(COD)

Amendment 74 #
Proposal for a directive
Article 1 – paragraph 4
Directive 2014/59/EU
Article 2 – paragraph 1 – point 83b
(83b) 'resolution group' means: (a) a resolution entity and its subsidiaries that are not: (i) resolution entities themselves and that are not subsidiaries of another; (ii) subsidiaries of other resolution entities; or (iii) entities established in a third country that are not included in the resolution group in accordance with the resolution plan and their subsidiaries; (b) credit institutions affiliated to a central body, the central body and any institution under the control of the central body when at least one of those entities is a resolution entity;.
2018/01/29
Committee: ECON
Amendment 109 #
Proposal for a directive
Article 1 – paragraph 13
Directive 2014/59/EU
Article 17 – paragraph 3 – subparagraph 2
Where a substantive impediment to resolvability is due to a situation referred to in Article 141a(2) of Directive 2013/36/EU the institution shall, within two weeks of the date of receipt of a notification made in accordance with paragraph 1, propose to the resolution authority possible measures to ensure that the institution complies with Articles 45f or 45g and the requirement referred to in Article 128(6) of Directive 2013/36/EU. The two week deadline may be extended by the resolution authority, in consultation with the competent authority, taking into account the specific circumstances of the case.
2018/01/29
Committee: ECON
Amendment 120 #
Proposal for a directive
Article 1 – paragraph 17
Directive 2014/59/EU
Article 18 – paragraph 3 – subparagraph 2
Where those impediments are due to a situation referred to in Article 141a(2) of Directive 2013/36/EU, the Union parent undertaking shall, within two weeks of the date of receipt of a notification made in accordance with paragraph 2, propose to the group-level resolution authority possible measures to address or remove those impediments. The two week deadline may be extended by the resolution authority, in consultation with the competent authority, taking into account the specific circumstances of the case.
2018/01/29
Committee: ECON
Amendment 125 #
Proposal for a directive
Article 1 – paragraph 18
Directive 2014/59/EU
Article 27 – paragraph 1 – point i
18. In Article 27(1), the following point (i) is added: ‘(i) Article 29a are complied with, suspend any payment or delivery obligation to which an institution or entity referred to in point (b), (c) or (d) of Article 1(1) is a party.’.deleted where the conditions laid down in
2018/01/29
Committee: ECON
Amendment 138 #
Proposal for a directive
Article 1 – paragraph 19
Directive 2014/59/EU
Article 29a
[...]deleted
2018/01/29
Committee: ECON
Amendment 182 #
Proposal for a directive
Article 1 – paragraph 22 a (new)
Directive 2014/59/EU
Article 44 – paragraph 2 – subparagraph 1 – point g a (new)
22 a. In Article 44(2), the following point (ga) is added: “(ga) deposits by public authorities.”
2018/01/29
Committee: ECON
Amendment 203 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 1 a (new)
1 a. By way of derogation from paragraph 1, liabilities issued before ... [the date of entry into force of this amending Directive] which do not meet the conditions set out in points (d) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities of resolution entities.
2018/01/31
Committee: ECON
Amendment 220 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 3 – subparagraph 1
Resolution authorities may decide that the requirement referred to in Article 45f is fully or partially met by resolution entities with instruments that meet all conditions referred to in Article 72a of Regulation (EU) No 575/2013 with a view to ensure that the resolution entity can be resolved in a manner suitable to meet the resolution objectives. For each resolution entity the level of required instruments that meet all conditions referred to in Article 72 a of Regulation (EU) No 575/2013 shall not exceed the level of the requirement specified in Article 92a(1) of Regulation (EU) No 575/2013 taking into account the transitional provisions specified in Article 494 of that Regulation.
2018/01/31
Committee: ECON
Amendment 238 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 1 – introductory part
1. The requirement referred to in Article 45(1) of each entity shall be determined by the resolution authority, after having consultedin cooperation with the competent authority, on the basis of the following criteria:
2018/01/31
Committee: ECON
Amendment 251 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 1 – subparagraph 1 a (new)
The resolution authority shall ensure that the level of the requirement referred to in Article 45(1) is proportionate to the specificities of the business and funding models of the resolution entity, taking into account: (i) the prevalence of deposits in the funding structure; (ii) the lack of experience in issuing debt instruments due to the limited access to cross-border and wholesale capital markets; (iii) the fact that the institution will rely primarily on CET1 and capital instruments to meet the requirement referred to in Article 45(l).
2018/01/31
Committee: ECON
Amendment 261 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 2 – subparagraph 2 a (new)
For each resolution entity the requirement referred to in Article 45(1) shall not exceed the level of the requirement specified in Article 92a(1) of Regulation (EU) No 575/2013.
2018/01/31
Committee: ECON
Amendment 263 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – introductory part
Without prejudice to the last subparagraph, for resolution entities, tThe amount referred to in paragraph 2 shall not exceed the greater of the following:
2018/01/31
Committee: ECON
Amendment 274 #
Proposal for a directive
Article 1 – paragraph 23
(i) the amount of losses to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the resolution entity at sub- consolidated resolution group level,
2018/01/31
Committee: ECON
Amendment 279 #
Proposal for a directive
Article 1 – paragraph 23
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU at consolidated resolution group sub- consolidated levellevel after the implementation of the preferred resolution action;
2018/01/31
Committee: ECON
Amendment 285 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the resolution entity's leverage ratio requirement referred to in theArticle 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub- consolidated level; and
2018/01/31
Committee: ECON
Amendment 288 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with the leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub-consolidated levellevel after the implementation of the preferred resolution action.
2018/01/31
Committee: ECON
Amendment 296 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 3 a (new)
When determining the recapitalisation amounts referred to in the previous subparagraphs, the resolution authority shall: (a) use the values for the relevant total risk exposure amount or leverage ratio exposure amount as adjusted for any changes resulting from resolution actions foreseen in the resolution plan; (b) after consulting the competent authority, adjust downwards the requirement referred to in Article 104a of Directive 2013/36/EU currently applicable to the resolution entity, to determine the requirement that will be applicable to the resolution entity after the implementation of the resolution actions foreseen in the resolution plan.
2018/01/31
Committee: ECON
Amendment 298 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 4
The resolution authority shall set the recapitalisation amounts referred to in the previous subparagraphs in accordance with the resolution actions foreseen in the resolution plan and may adjust those recapitalisation amounts to adequately reflect risks that affect resolvability arising from the resolution group’s business model, funding profile and overall risk profile.deleted
2018/01/31
Committee: ECON
Amendment 310 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – introductory part
4. Without prejudice to the last subparagraph, fFor entities that are not themselves resolution entities, the amount referred to in paragraph 2 shall not exceed the greater of any of the following:
2018/01/31
Committee: ECON
Amendment 318 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point a – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the entity, and
2018/01/31
Committee: ECON
Amendment 320 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point a – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU after the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59;
2018/01/31
Committee: ECON
Amendment 325 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the entity's leverage ratio requirement referred to in the Article 92(1)(d) of Regulation (EU) No 575/2013, and
2018/01/31
Committee: ECON
Amendment 327 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its leverage ratio requirement referred to in the Article 92(1)(d) of Regulation (EU) No 575/2013 after the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59;
2018/01/31
Committee: ECON
Amendment 334 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 3 a (new)
When determining the recapitalisation amounts referred to in the previous subparagraphs, the resolution authority shall: (a) use the values for the relevant total risk exposure amount or leverage ratio exposure amount as adjusted for any changes resulting from actions foreseen in the resolution plan; (b) after consulting the competent authority, adjust downwards the requirement referred to in Article 104a of Directive 2013/36/EU currently applicable to the relevant entity, to determine the requirement that will be applicable to the entity after the implementation of the actions foreseen in the resolution plan.
2018/01/31
Committee: ECON
Amendment 335 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 4
The resolution authority shall set the recapitalisation amounts referred to the previous subparagraphs in accordance with the resolution actions foreseen in the resolution plan and may adjust those recapitalisation amounts to adequately reflect risks that affect the recapitalisation needs arising from the entity's business model, funding profile and overall risk profile.deleted
2018/01/31
Committee: ECON
Amendment 363 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 1
1. Tdeleted the requirement referred to in Article 45(1) of a resolution entity that is a G-SII or part of a G-SII shall consist of the following: (a) Article 92a of Regulation (EU) No 575/2013; and (b) own funds and eligible liabilities determined by the resolution authority specific to the entity in accordance with paragraph 2, which shall be met with liabilities that meet the conditions of Article 45b.any additional requirement for
2018/01/31
Committee: ECON
Amendment 369 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 2
2. The resolution authority may impose an additional requirement for own funds and eligible liabilities referred to in point (b) of paragraph 1 only: (a) in point (a) of paragraph 1 is not sufficient to fulfil the conditions set out in Article 45c; and (b) required own funds and eligible liabilities does not exceed a level that is necessary to fulfil the conditions of Article 45c.deleted where the requirement referred to to an extent that the amount of
2018/01/31
Committee: ECON
Amendment 378 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 3 – introductory part
3. Where more than one G-SII entity belonging to the same EU G-SII are resolution entities, the relevant resolution authorities shall calculate the amourequirement referred to in paragraph 2Article 92a of Regulation (EU) No 575/2013,
2018/01/31
Committee: ECON
Amendment 380 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 4
4. The resolution authority's decision to impose an additional requirement of own funds and eligible liabilities under point (b) of paragraph 1, shall contain the reasons for that decision, including a full assessment of the elements referred to in paragraph 2.deleted
2018/01/31
Committee: ECON
Amendment 389 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 1 – subparagraph 1 – introductory part
The resolution authority may give guidance to an entity to have own funds and eligible liabilities that fulfil the conditions of Article 45b(1) or 45g(3) in excess of the levels set out in Article 45c and Article 45d that provides for additional amounts for the following purposes:
2018/01/31
Committee: ECON
Amendment 393 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 1 – subparagraph 1 – point b
(b) to ensure that, in the event of resolutionfollowing resolution or the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59, a sufficient market confidence in the entity is sustained through capital instruments in addition to the requirement in point (b) of Article 45c(2) ('market confidence buffer').
2018/01/31
Committee: ECON
Amendment 396 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 2 – subparagraph 1
The amount of the guidance given in accordance with point (a) of paragraph 1 may be set only where the competent authority has already set its own guidance in accordance with Article 104b of Directive 2013/36/EU and the resolution authority determines that the requirement referred to in point (a) of Article 45c(2) would not be sufficient to absorb all the losses in resolution taking into account the entity’s business model, funding model and risk profile or to reduce or remove an impediment to resolvability or absorb losses on holdings of MREL instruments issued by other entities included in the same resolution group. The amount of the guidance given in accordance with point (a) of paragraph 1 shall not exceed the level of that guidance.
2018/01/31
Committee: ECON
Amendment 399 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 2 – subparagraph 2
The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffermay be set when the resolution authority determines that the requirement referred to in point (6b) of Article 128 of Directive 2013/36/EU, except for the requirement referred to in point (a) of that provision, unless a higher level is necessary to ensure that, following the event of resolution, the entity continues to meet the conditions for its authorisation for an appropriate period of 45c(2) would not be sufficient to sustain market confidence and ensure both the continued provision of critical economic functions by the entity and the access to funding without recourse to extraordinary financial support other than contributions from resolution financing arrangements. The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffer requirement referred to in point (6) of Article 128 of Directimve that is not longer than one year2013/36/EU, except for the requirement referred to in point (a) of that provision.
2018/01/31
Committee: ECON
Amendment 407 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 3
3. Where an entity consistently fails to have additional own funds and eligible liabilities as expected under the guidance referred to in the first paragraph, the resolution authority may require that the amount of the requirement referred to in Article 45c(2) be increased to cover the amount of the guidance given pursuant to this Article.deleted
2018/01/31
Committee: ECON
Amendment 438 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 3 a (new)
3 a. By way of derogation from point (a)(ii) of paragraph 3, liabilities issued before ... [date of entry into force of this amending Directive] which do not meet the conditions set out in points (b)and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities.
2018/01/31
Committee: ECON
Amendment 462 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point a
(a) both the subsidiary and the resolution entity are subject to authorisation and supervision by the same Member State;
2018/01/31
Committee: ECON
Amendment 468 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point f
(f) the resolution entity holds more than 50 % of the voting rights attached to shares in the capital of the subsidiary or has the right to appoint or remove a majority of the members of the management body of the subsidiary, except for credit institutions permanently affiliated to a central body;
2018/01/31
Committee: ECON
Amendment 476 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragrapgh 5 – point g
(g) the competent authority of the subsidiary has fully waived the application of individual capital requirements to the subsidiary under Article 7(1) or Article 10 of Regulation (EU) No 575/2013.
2018/01/31
Committee: ECON
Amendment 494 #
Proposal for a directive
Article 1 – paragraph 23
Directive2014/59/EU
Article 45i – paragraph 2 – subparagraph 1 a (new)
The requirement referred to in the first subparagraph shall not apply to the guidance for the minimum requirement of own funds and eligible liabilities referred to in Article 45e.
2018/01/31
Committee: ECON
Amendment 498 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45i – paragraph 4
4. Public disclosure requirements shall apply at the date where the requirement referred to in Article 45(1) is fullyFor institutions to which resolution tools or the power to write down and convert relevant capital instruments and eligible liabilities have been applied, public disclosure requirements shall apply after the deadline referred to in point (o) of Article 10(7) to compliedy with for the first timethe requirement referred to in Article 45(1).
2018/01/31
Committee: ECON
Amendment 502 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45k – paragraph 1 a (new)
Any breach of the guidance referred to in Article 45e shall be addressed by the relevant authorities on the basis of at least one of the powers referred to in point (a), (b) and (d) of paragraph 1.
2018/01/31
Committee: ECON
Amendment 507 #
Proposal for a directive
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45l a (new)
Article 45l a Transitional and post-resolution arrangements 1. Resolution authorities, after consulting the competent authorities, shall determine an appropriate transitional period for each institution or entity referred to in points (b), (c) and (d) of Article 1(1) to comply with the MREL requirements in Articles 45f or 45g. The deadline to comply with the requirements in Articles 45f or 45g shall not be earlier than 1 January 2024. 2. When setting the transitional periods, resolution authorities shall take into account, among other relevant circumstances: (i) any relevant characteristics of the institutions, particularly the prevalence of deposits and the absence of debt instruments in the funding model; (ii) the limited access to the capital markets for eligible liabilities; (iii) the reliance on Common Equity Tier 1 to meet the requirement referred to in Article 45f; (iv) the overall conditions of the relevant banking system; (v) any possible impact of the requirements in Articles 45f or 45g on financial stability and any risk of contagion to the financial system.
2018/01/31
Committee: ECON
Amendment 518 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – introductory part
The requirement referred to in paragraph 1 mayshall not apply where the resolution authority of a Member State determines all of the following conditions are meteither:
2018/02/01
Committee: ECON
Amendment 523 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – point a
(a) that the liabilities or instruments referred to in the first subparagraph can be subject to write down and conversion powers by the resolution authority of a Member State pursuant to the law of the third country or to a binding agreement concluded with that third country; or
2018/02/01
Committee: ECON
Amendment 528 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – point c
(c) that a waiver from the requirement referred to in paragraph 1 for certain liabilities does not impede the resolvability of the institutions and entities referred to in points (b), (c) and (d) of Article 1(1).deleted
2018/02/01
Committee: ECON
Amendment 532 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 2
The liabilities referred to in points (b) and (c) shall not include unsecured bonds or similar debt instruments which are unsecured liabilities, Additional Tier 1 instruments, and Tier 2 instruments. Moreover, they shall be senior to the liabilities which count towards the minimum requirement for own funds and permissible liabilities.
2018/02/01
Committee: ECON
Amendment 535 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 3
The liabilities which fail to include the contractual term as required by paragraph 1 or for which, in accordance with points (b) and (c), do not include the contractual term referred to in paragraph 1 is not required, shall not be counted towards the minimum requirement for own funds and eligible liabilities.
2018/02/01
Committee: ECON
Amendment 540 #
Proposal for a directive
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 4
4. Where an institution or entity referred to in point (b), (c) or (d) of Article 1(1) fails todoes not include in the contractual provisions governing a relevant liability a contractual term as required in accordance with paragraph 1, that failure shall not prevent the resolution authority from exercising the write down and conversion powers in relation to that liability.
2018/02/01
Committee: ECON
Amendment 558 #
Proposal for a directive
Article 1 – paragraph 26
Directive 2014/59/EU
Article 63 – paragraph 1a
1a. The period of the suspension pursuant to paragraph 1(n) shall not exceed the minimum period of time that the resolution authority considers necessary for the effective application of one or more resolution tools or for the purposes of the valuation pursuant to Article 36 and in any event shall not exceed 52 working days.
2018/02/01
Committee: ECON
Amendment 583 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 a (new)
Member States shall apply Article 45i(2) from 1 January 2028.
2018/02/01
Committee: ECON