BETA

7 Amendments of Stanisław OŻÓG related to 2016/0362(COD)

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 19

Directive 2014/59/EU
Article 29a

~~[...]~~deleted

2018/01/29
Committee: ECON

Stanisław OŻÓG

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) liabilities to institutions or entities referred to in point (b), (c) or (d) of Article 1(1) that are part of the same resolution group without being themselves resolution entity, regardless of their maturities except where these liabilities rank below ordinary unsecured liabilities under the relevant national law setting the hierarchy of claims applicable on the date of transposition of this Directive. Where the previous subparagraph applies, the resolution authority of the relevant subsidiary that is not a resolution entity shall assess whether the amount of instruments complying with Article 45g(3) is sufficient to support the implementation of the preferred resolution strategy.

2018/01/29
Committee: ECON

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 23

Directive 2014/59/EU
Article 45c – paragraph 1 – point e

~~(e) the extent to which the Deposit Guarantee Scheme could contribute to the financing of resolution in accordance with Article 109;~~deleted

2018/01/31
Committee: ECON

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 23

Directive 2014/59/EU
Article 45c – paragraph 7 – subparagraph 2

The resolution authority may reduce the requirement referred to in Article 45(1) to take account of the amount which a deposit guarantee scheme is expected to contribute to the financing of the preferred resolution strategy in accordance with Article 109 of Directive 2014/59/EU.deleted

2018/01/31
Committee: ECON

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 23

Directive 2014/59/EU
Article 45c – paragraph 7 – subparagraph 3

The size of any such reduction shall be based on a credible assessment of the potential contribution from the deposit guarantee scheme, and shall at least: (a) the potential losses which the deposit guarantee scheme would have had to bear, had the institution been wound up under normal insolvency proceedings, taking into account the priority ranking of the deposit guarantee scheme pursuant to Article 108 of Directive 2014/59/EU; (b) guarantee scheme contributions set out in the second subparagraph of Article 109(5) of Directive 2014/59/EU; (c) exhausting the available financial means of the deposit guarantee scheme due to contributing to multiple bank failures or resolutions; and (d) relevant provisions in national law and the duties and responsibilities of the authority responsible for the deposit guarantee scheme. (e) after consulting the authority responsible for the deposit guarantee scheme, document its approach as regards the assessment of the overall risk of exhausting the available financial means of the deposit guarantee scheme and apply reductions in accordance with subparagraph 1, provided that that risk is not excessive.deleted be less than a prudent estimate of be less than the limit on deposit take account of the overall risk of be consistent with any other The resolution authority shall,

2018/01/31
Committee: ECON

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 23

Directive 2014/59/EU
Article 45g – paragraph 2

2. The requirement referred to in Article 45(1)of entities referred to in the first paragraph shall be subject to the following conditions: (a) the consolidated requirement referred to in Article 45f; (b) applied to the resolution group's subsidiaries shall be covered by and not exceed the consolidated requirement referred to in Article 45f unless this is only due to the effects of the consolidation at the level of the resolution group in accordance with Article 45f(1). (c) the contribution of the subsidiary to the consolidated requirement referred to in Article 45f(1). (d) provided in paragraph 3.deleted the resolution entity complies with the sum of all requirements to be the requirement shall not exceed it shall fulfil the eligibility criteria

2018/01/31
Committee: ECON

Stanisław OŻÓG

Proposal for a directive
Article 1 – paragraph 23

Directive 2014/59/EU
Article 45g – paragraph 4

4. Subject to the agreement of the resolution authorities of the subsidiary and the resolution entity, the requirement may be met with a guarantee of the resolution entity granted to its subsidiary, which fulfils the following conditions: (a) least the equivalent amount as the amount of the requirement for which it substitutes; (b) the subsidiary is unable to pay its debts or other liabilities as they fall due or a determination has been made in accordance with Article 59(3) in respect of the subsidiary, whichever is the earliest; (c) through a financial collateral arrangement as defined in point (a) of Article 2(1) of Directive 2002/47/EC for at least 50 per cent of its amount; (d) collateral arrangement are governed by the laws of the Member State where the subsidiary is established unless specified otherwise by the resolution authority of the subsidiary; (e) guarantee fulfils the requirements of Article 197 of Regulation (EU) No 575/2013, which, following appropriately conservative haircuts, is sufficient to fully cover the amount guaranteed; (f) guarantee is unencumbered and in particular is not used asdeleted the guarantee is provided for at the guarantee is triggered when the guarantee is collateralised the guarantee and financial the collateral to back any other guarantee; (g) maturity that fulfils the same maturity condition as that for referred to in Article 72c(1) of Regulation (EU) No 575/2013 , and (h) operational barriers to the transfer of the collateral from the resolution entity toing the the collateral backing the the collateral has an effective the re~~levant subsidiary, including when resolution action is taken in respect of the resolution entity.~~ are no legal, regulatory or

2018/01/31
Committee: ECON