16 Amendments of Jonás FERNÁNDEZ related to 2014/0020(COD)
Amendment 92 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Banking is a service of general economic interest. The real economy relies on credit to enable it to increase the production of goods and services, and hence to increase per capita income for its citizens and thus their well-being. For this reason, the purpose of banks that take deposits from individuals and undertakings should be to finance productive activity rather than speculation, which does not contribute to the growth of the real economy but increases the risk of financial crises such as the one that started in the United States in summer 2007.
Amendment 96 #
Proposal for a regulation
Recital 2
Recital 2
(2) The financial crisis has demonstrated the interconnected nature of Union banks and the resulting risk to the financial system. As a result, resolution has to date been challenging, involved entire banking groups, as opposed to only the non-viable parts, and has relied significantly on public support. Financial stability is a supranational public asset the safeguarding of which requires that the financial sector of the economy be adequately regulated and supervised, and without which there can be no lasting and environmentally sustainable economic growth. This regulation seeks to contribute to safeguarding the Union’s financial stability and preventing systemic risk.
Amendment 252 #
Proposal for a regulation
Article 3 – paragraph 1 – point b – introductory part
Article 3 – paragraph 1 – point b – introductory part
(b) any of the following entities that for a period of three consecutive yearhas or within any period of the last three years, but not retroactively covering any period before this regulation entered into force, has hasd total assets amounting at least to EUR 30 billion and has trading activities calculated on a non-risk weighted basis according to Articles 22 and 23 amounting at least to EUR 70 billion or 10 per cent of its total assets:
Amendment 278 #
Proposal for a regulation
Article 5 – paragraph 1 – point 4
Article 5 – paragraph 1 – point 4
4. ‘proprietary trading’ means using own capital or borrowed money to take positions in any type of transaction to purchase, sell or otherwise acquire or dispose of any financial instrument or commodities for the soleprimary purpose of making a profit for own account, and without any connection to actual or anticipated client activity or for the purpose of hedging the entity’s risk as result of actual or anticipated client activity, through the use of desks, units, divisions or individual traders specifically dedicated to such position taking and profit making, including through dedicated web-based. This definition includes any such transaction undertaken with the aim of making profit, irrespective of whether such profit would be realised in the short term or in the longer term, or is in fact realised. Unless an institution demonstrates and proves to the satisfaction of the competent authority that an activity is not covered by this definition it shall be deemed to be proprietary trading platforms; ;
Amendment 323 #
Proposal for a regulation
Article 6 – paragraph 1 – point b – point iii a (new)
Article 6 – paragraph 1 – point b – point iii a (new)
(iii a) engage in lending to, grant guarantees to, or hold any financial instrument other than those listed in point (ii) of this paragraph issued by an AIF.
Amendment 499 #
Proposal for a regulation
Article 10 – paragraph 1
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 b) of Article 9(2) and specified in the delegated act referred to in paragraph 5 are met, and it therefore deems that there is a threat to the financial stability of the core credit institution or to the whole or part of 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.
Amendment 521 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Article 10 – paragraph 3 – subparagraph 2
Unless the core credit institution demonstrates, within the time limit referred to in the first subparagraph, to the satisfaction of the competent authority, that the reasons leading to the conclusions are not justifiedactivities referred to in paragraphs 1 and 2 of this Article do not pose a threat to financial stability of the core credit institution or to the whole or part of the Union financial system, 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.
Amendment 547 #
Proposal for a regulation
Article 10 – paragraph 4 a (new)
Article 10 – paragraph 4 a (new)
4 a. Notwithstanding separation decisions, the competent authority may impose additional capital and liquidity requirements that it deems necessary to counter a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system.
Amendment 644 #
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. When measures have been imposed in accordance with this Chapter the core credit institution shall not incur an intra- group exposure that exceeds 250 per cent of the core credit institution's eligible capital to an entity that does not belong to the same sub-group as the core credit institution. The intra-group exposure limit shall apply on a sub-consolidated basis, and after taking into account the effect of the credit risk mitigation and exemptions in accordance with Articles 399 to 403 of Regulation (EU) No 575/2013 and Article 16 of this Regulation.
Amendment 647 #
Proposal for a regulation
Article 15 – paragraph 1 – point a
Article 15 – paragraph 1 – point a
(a) a large exposure that exceeds 250 per cent of the core credit institution's eligible capital to a financial entity. That exposure limit shall apply on an individual and on a sub-consolidated basis, and after taking into account the effect of the credit risk mitigation and exemptions in accordance with Articles 399 to 403 of Regulation (EU) No 575/2013 and Article 16 of this Regulation;
Amendment 649 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) large exposures that in total exceed 20150 per cent of the core credit institution's eligible capital to financial entities. That exposure limit shall apply on an individual and on a sub-consolidated basis, and after taking into account the effect of the credit risk mitigation and exemptions in accordance with Articles 399 to 403 of Regulation (EU) No 575/2013 and Article 16 of this Regulation.
Amendment 755 #
Proposal for a regulation
Article 23 – paragraph 1 – subparagraph 1
Article 23 – paragraph 1 – subparagraph 1
For the purposes of Article 3, trading activities shall be calculated on a non-risk weighted basis as follows in accordance with the applicable accounting regime.
Amendment 795 #
Proposal for a regulation
Article 28 – paragraph 4 – subparagraph 1 – point b
Article 28 – paragraph 4 – subparagraph 1 – point b
(b) the disgorgement of the profits gained or losses avoided due to the breach in so far asas estimated by they can be determinedompetent authority;
Amendment 803 #
Proposal for a regulation
Article 28 – paragraph 4 – subparagraph 1 – point h
Article 28 – paragraph 4 – subparagraph 1 – point h
(h) in respect of a natural person, a maximum administrative pecuniary sanction of at least EUR 510 000 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on the date of entry to force of this Regulation;
Amendment 817 #
Proposal for a regulation
Article 30 – paragraph 2 – point b
Article 30 – paragraph 2 – point b
(b) appropriate protection for persons working under a contract of employment, who report breaches or who are accused of breaches, against retaliation, discrimination or other types of unfair treatment. This includes prohibiting an institution from trying to investigate the source of the information;
Amendment 819 #
Proposal for a regulation
Article 30 – paragraph 4
Article 30 – paragraph 4
4. Member States mayshall provide for financial incentives to persons who offer relevant information about potential breaches of this Regulation to be granted in accordance with national law where such persons do not have other pre-existing legal or contractual duties to report such information, and provided that the information is new, and it results in the imposition of an administrative sanction or other measure taken for a breach of this Regulation or a criminal sanction. Should the information reported result in a pecuniary penalty, the financial incentive shall be calculated as a proportion of this pecuniary penalty of no less than 15 % of the penalty imposed. Should the information reported result in a non- pecuniary penalty, the financial incentive shall reflect the gravity and duration of the breach, and it will be paid by the natural or legal person that committed the breach.