[ParlTrack]

Proposal for a regulation
Article 4 – paragraph 2 a (new)

2 a. In addition to paragraph 1, a competent authority shall exempt from the requirements of Chapter III a credit institution taking qualifying deposits which, at the time that this Regulation comes into effect, is already: (a) prevented by national legislation, or due to be prevented by national legislation that has already been passed but not yet implemented, from engaging in the regulated activity of dealing in investments as principal and holding trading assets (albeit with limited exceptions that allow the credit institution to undertake risk-mitigating activities for the purpose of prudently managing its capital, liquidity and funding and to provide limited risk management services to customers); (b) compelled by national legislation, or due to be compelled by national legislation that has already been passed but not yet implemented, to ensure that, where it belongs to a group, the credit institution taking eligible deposits from individuals and SMEs is legally separated from group entities that engage in the regulated activity of dealing in investments as a principal or hold trading assets, and specifically: (i) is able to make decisions independently of other group entities; (ii) has a management body that is independent of other group entities and independent of the credit institution itself; (iii) is subject to capital and liquidity requirements in its own right; (iv) is prohibited from entering into contracts or transactions with other group entities other than on terms similar to those referred to in Article 13(7).

2015/02/04
Committee: ECON

Anneliese DODDS, Richard CORBETT

Proposal for a regulation
Article 5 – paragraph 1 – point 16

16. ‘core credit institution’ means a credit institution that at the minimum takes deposits eligible under the Deposit Guarantee Scheme in accordance with Directive 94/19/EC33 ; __________________ 33Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes, OJ L 135, 31.05.1994 pages 0005 to 0014.holds qualifying deposits;

2015/02/04
Committee: ECON

Anneliese DODDS, Richard CORBETT

Proposal for a regulation
Article 5 – paragraph 1 – point 16 a (new)

16 a. "qualifying deposits" are deposits eligible under the Deposit Guarantee Scheme in accordance with Directive 2014/49/EU1a, excluding deposits from individuals who have held assets to the value of at least €250,000 for a period of at least 12 months and excluding deposits from large undertakings with income of not less than €6.5m, a balance sheet not less than €3.25m, or not less than 50 employees. This exclusion may be further narrowed in domestic law; __________________ 1aDirective 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit-guarantee schemes. OJ L 173, 12.06.2014, p.149

2015/02/04
Committee: ECON

Anneliese DODDS

Proposal for a regulation
Article 10 – paragraph 1

1. Where the competent authority concludes that, following the assessment referred to in Article 9(1), the limits and conditions linked to the metrics referred to in points (a) to (h) of Article 9(2) and specified in the delegated act referred to in paragraph 5 are met, and it therefore deems that there ismay be a threat to the financial stability of the core credit institution or to the Union financial system as a whole, taking into account the objectives referred to in Article 1, it shall, no later than two months after the finalisation of that assessment, start the procedure leading to a decision as referred to in the second subparagraph of paragraph 3.

2015/02/03
Committee: ECON

Anneliese DODDS

Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2

Unless the core credit institution demonstrates, within the time limit referred to in the first subparagraph, to the complete satisfaction of the competent authority, that the reasons leading to the conclusions are not justified, the competent authority shall adopt a decision addressing the core credit institution and requiring it not to carry out the trading activities specified in those conclusions. The competent authority shall state the reasons for its decision and publicly disclose it.

2015/02/03
Committee: ECON

Anneliese DODDS, Richard CORBETT

Proposal for a regulation
Article 21

~~[...]~~deleted

2015/02/03
Committee: ECON

6 Amendments of Anneliese DODDS related to 2014/0020(COD)

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