9 Amendments of Doru-Claudian FRUNZULICĂ related to 2014/0020(COD)
Amendment 702 #
Proposal for a regulation
Article 21 – title
Article 21 – title
Amendment 705 #
Proposal for a regulation
Article 21 – paragraph 1 – introductory part
Article 21 – paragraph 1 – introductory part
1. At the request of a Member State, tThe Commission may grant a derogan exemption from the requirements of this Chapter to a credit institution taking deposits from individuals and SMEs that are, which in case of a group can be in relation to the group as a whole or specifically to a group entity located in one or more Member States, that is subject to national primary legislation adopted bein force at the date of entry into force 29 January 2014of this Regulation when the national legislation complies with the following requirements:
Amendment 719 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
Amendment 724 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 2
Article 21 – paragraph 2 – subparagraph 2
Once the Commission has all the information it considers necessary for appraisal of the request for derogaexemption, it shall within one month notify the requesting Member State or credit institution, as the case may be, that it is satisfied with the information.
Amendment 728 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 3
Article 21 – paragraph 2 – subparagraph 3
Within five months of issuing the notification referred to in the second subparagraph, the Commission shall, after having consulted the EBA on the reasons underlying its envisaged decision and on the potential impact of such a decision on the financial stability of the Union and the functioning of the internal market, adopt an implementing decision declaring the national legislation not incompatible with this Chapter and granting the derogaexemption to the credit institutions specified in the request referred to in the first subparagraph 1. Where the Commission intends to declare the applicable national legislation incompatible and to not grant the derogaexemption it shall set out its objections in detail and provide the requesting credit institution and the Member State concerned with the opportunity to submit written comments within one month from the date of notification of the Commission objections. The Commission shall within three months from the end of the time limit for submission adopt an implementing decision granting or rejecting the derogationexemption, which it shall notify to the requesting credit institution and to the Member State whose national legislation is concerned.
Amendment 730 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 3 a (new)
Article 21 – paragraph 2 – subparagraph 3 a (new)
Where, and as long as, national legislation not declared incompatible with this Chapter applies to a credit institution that has been granted an exemption from the requirements of this Chapter, the national supervisory authority of the Member State in question shall in relation to the entity subject to the exemption continue to exercise its powers as defined in the national legislation not declared incompatible, as in force at the time of the entry into force of this Regulation. In case of an exemption granted to a group entity, the exercise of these powers shall be without prejudice to the powers of the competent authority under this Regulation as regards the EU parent and the other group entities of the same group which were not granted an exemption.
Amendment 733 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 4
Article 21 – paragraph 2 – subparagraph 4
Where the national legislation is amended, the Member State shall notify the amwhich the Commission has declared not incompatible is amended or no longer applies, the credit institution and the Member State concerned shall independments toly from each other notify the Commission. The Commission may, whether on the basis of such notification or on its own motion, review the implementing decision referred to in the third subparagraph. Where national legislation not declared incompatible with this Chapter no longer applies as in force at the date of entry into force of this Regulation to a credit institution that has been granted an exemption from the requirements of this Chapter, that exemption shall be withdrawn with regard to that credit institution.
Amendment 737 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 5
Article 21 – paragraph 2 – subparagraph 5
Amendment 741 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 6
Article 21 – paragraph 2 – subparagraph 6
The Commission shall notify its decisions to the EBA. The EBA shall publish a list of the credit institutions that have been granted a derogan exemption in accordance with this Article. The list shall be continuously kept up-to-date.