Activities of Marco VALLI related to 2016/2247(INI)
Plenary speeches (2)
Banking Union - Annual Report 2016 (debate) IT
Banking Union - Annual Report 2016 (debate) IT
Shadow reports (1)
REPORT on Banking Union - Annual Report 2016 PDF (323 KB) DOC (73 KB)
Amendments (32)
Amendment 1 #
Motion for a resolution
Citation 1
Citation 1
Amendment 9 #
Motion for a resolution
Citation 4
Citation 4
Amendment 34 #
Motion for a resolution
Recital A
Recital A
Amendment 82 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the "too big to fail" and the "too interconnected to fail" issues remain largely unaddressed;
Amendment 84 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
Db. whereas the Banking Union is acting on the consequences of the crisis and not on the causes;
Amendment 85 #
Motion for a resolution
Recital D c (new)
Recital D c (new)
Dc. whereas a proper structural reform of banks based on a clear separation between trading and credit activities is the only way to prevent the risk of bail-out at the expense of taxpayers and ensure financial stability;
Amendment 93 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes the high level of non- performing loans (NPLs) in some jurisdictions; considerdeplores that this issue is crucial and has yet to be solved; welcomes the work of the SSM and its draft guidance on this issue; looks forward to the results of the work on a minimum EU insolvency framework; calls on Member States to improve their insolvency legislation and to stimulate growth the result of the bad management of the crisis through wrong economic policies; considers that this issue is crucial and the underlying macroeconomic problem associated with the chronic lack of demand and the collapse in households' purchasing power has yet to be solved; calls on Member States to improve their insolvency legislation and adopt anti- cyclical policies to stimulate growth and support internal demand in order to tackle NPLs;
Amendment 127 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Considers that there arDeplores the recent attitude to consider the risks associated with sovereign debt; notes, however, that modifying its prudential treatment couldwill have a significant negative effect on the financial sector, which calls for caution in reform efforts; awaits with interest the results of the international work on this issue; considers that, in the end, a better regulatory framework, be it European or international, will be neededperipheral countries that are still suffering the consequences of the crisis, without actually providing a better assessment of banks' effective risks; calls for a framework providing a clear mapping of financial risk, taking into consideration banks' exposure in Level 3 assets, as they pose the greatest risk to financial stability;
Amendment 137 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Recalls the importance of avoiding within the new Basel framework that higher capital requirements unduly constrain the lending capacity of banks to the real economy, as long as the imbalances in the euro area remain unsolved;
Amendment 138 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that the current supervisory framework is strongly biased towards addressing the credit risk and totally ignores the exposure in risky financial derivatives associated with trading activities, thereby promoting the wrong business model;
Amendment 153 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Underlines the importance of introducing the use of the Standardized Model Approach in order to put an end to the attitude of banks to manipulate risk- weighted assets and capital requirements;
Amendment 155 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 171 #
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 184 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Recalls the necessity to ensure a level playing field at the European level but believes that supervision and resolution are better managed at the national level;
Amendment 187 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Recalls the need to clarify the objectives of Pillar 2 and its place within the stacking order of capital requirements; is of the view that the use of capital guidance is a relevant way forward in order to balance financial stability concerns with flexibility needs;
Amendment 197 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Recalls the necessity to find a proportional methodology in order to assess the real financial risk associated with the investment banking model without unfairly penalizing commercial banks that really provide financing to the real economy;
Amendment 216 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 224 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 244 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Condemns the creation of the SSM inside the ECB and is concerned about the conflict of interest entailed;
Amendment 246 #
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Believes that the SSM is not be able to conduct effective banking supervision; deplores the results of the stress test conducted by the ECB, together with EBA, as they have failed to capture the real risk associated with speculative activities and exposures in Level 3 assets and demonstrated to be not reliable and incomplete; regrets that the focus on credit risk resulted in penalising the safer commercial banking models with respect to big investment banks that pose the greatest risk to financial stability;
Amendment 255 #
Motion for a resolution
Paragraph 9 c (new)
Paragraph 9 c (new)
9c. Considers that the insufficiency of the SRF is one of the main causes of the non-credibility of the project of the Banking Union;
Amendment 276 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. RecCalls the need to adfor the re to State aid rules in the context of bank resolution; takes the view that enough flexibility is embedded within the current framework to address specific situations and might be better exploited, in particular in the case of preventive measures involving the use of DGS fundspeal of the BRRD considering that this Directive already demonstrated to be ineffective and dangerous for investors, bondholders and depositors and for the stability of the financial system as a whole;
Amendment 312 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Recalls that the BRRD in any case does not exclude the possibility of bail-out as provided by Articles 56 and 57 and that it does not break the link between the banks and sovereigns, given that State aid is still allowed, as provided by Article 32 of the BRRD; believes that this raises questions about the credibility and effectiveness of the new rules;
Amendment 328 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 333 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 336 #
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 345 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets that the Commission did not allow for more time to assess the implementation of the DGSD before proposing the EDIS and did not conduct a proper impact assessment of the proposal; stands ready, however, to seize the opportunity generated by the proposal to discuss the DGSD and address some of the options and discretions it includes;
Amendment 356 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Recalls that EDIS needs a public backstop to be credible; asks for a full and unlimited ECB guarantee on European deposits, in order to make this mechanism fully effective; recalls that this is in line with the objective enshrined in its mandate to keep the stability of the financial system;
Amendment 372 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Is aware of the potential benefits of an EDIS with a full and unlimited coverage and with the public backstop provided by the ECB; is nevertheless of the opinion that risk reduction measures are an indispensable counterparty to its establishment in order to prevent moral hazard, and that such measures should preferably precede risk sharing;
Amendment 395 #
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 421 #
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 432 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls for an ambitious structural reform of banks based on a true and clear separation between credit and trading activities, together with a stricter regulation of shadow banking and financial speculation, as the only way forward to prevent the accumulation of systemic risks and ensure financial stability; strongly condemns the reluctance of the European institutions to conclude these reforms;