2 Amendments of Fulvio MARTUSCIELLO related to 2018/0171(COD)
Amendment 69 #
Proposal for a regulation
Recital 3
Recital 3
(3) Enabling a market-led development of SBBSs is part of the Commission's efforts to reduce risks to financial stability and advance towards completion of the Banking Union. SBBSs could support further portfolio diversification in the banking sector, while creating a new source of high-quality collateral, which is particularly suited for use in cross-border financial transactions as well as for the activities of central banks in the Eurosystem and those of central counterparties. Furthermore, enabling SBBSs could also increase the number of instruments available for cross- border investment and risk sharing, which feeds into the Commission's efforts to deepen and integrate further Europe's capital markets in the context of the Capital Markets Union.
Amendment 92 #
Proposal for a regulation
Recital 17
Recital 17
(17) Investors in different financial sectors should be able to invest in SBBSs under the same conditions as they invest in the underlying euro area sovereign bonds. Directive 2009/65/EC of the European Parliament and of the Council15, Regulation (EU) No 575/2013 of the European Parliament and of the Council16, Directive 2009/138/EC of the European Parliament and of the Council17 and, Directive (EU) 2016/2341 of the European Parliament and of the Council18, and Article 10(1)(c) of Commission Delegated Regulation (EU) 2015/61 should therefore be amended to ensure that SBBS are granted the same regulatory treatment as their underlying assets across the various regulated financial sectors. _________________ 15 Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32). 16 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (CRR) (OJ L 176, 27.6.2013, p.1). 17 Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335 17.12.2009, p. 1). 18 Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (OJ L 354, 23.12.2016, p.37).