13 Amendments of Jonás FERNÁNDEZ related to 2016/0365(COD)
Amendment 226 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) The ESCB members may act both as clearing members or clients of CCPs. Being publicly chartered central banks, which by their nature do not present a risk of default for the CCPs in which they participate, members of the ESCB should, when acting as clearing members or clients of CCPs, be excluded from the position and loss allocation tools under this Regulation;
Amendment 269 #
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. In the case of members of the ESCB acting as clearing participants, Articles 28 to 31 of this Regulation shall not apply.
Amendment 325 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. CCPs shall draw up and maintain a recovery plan providing for measures to be taken in order to restore their financial position following a significant deterioration of their financial situation or a risk of breaching their prudential requirements under Regulation (EU) No 648/2012. This plan shall be comprehensive and effective, including at least tools that allow the CCP to allocate any uncovered losses and cover liquidity shortfalls, to address unbalanced positions and to replenishes its financial resources, including the CCP's own capital, necessary for the CCP to maintain its viability as a going concern and to continue providing its critical services in accordance with Article 1(2) of Commission Delegated Regulation (EU) No 152/2013 and Article 32(2) and (3) of Commission Delegated Regulation (EU) No 153/2013;
Amendment 365 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
Where the parent undertaking of the group to which a CCP belongs is not an institution or entity referred to in the first subparagraph and where appropriatenecessary in order to meet the criteriaassess that all elements of Section A of the Annex are complied with, competent authorities may, after consulting the college and in accordance with the procedure laid down in Article 10 of this Regulation, require the parent undertakingCCP to submit a plan for the recovery of the CCP as part of the recovery plan for the grouptaking into account all relevant elements related to the structure of the group to which it belongs. Thatis request shall be reasoned and shall be notified in writing to the CCP and its parent undertaking.
Amendment 368 #
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Where the parent undertakingCCP submits the recovery plan in accordance with the first subparagraph of paragraph 1, the provisions on the recovery of the CCP that relate to the group of the CCP shall constitute a distinct part of that recovery plan and shall comply with the requirements of this Regulation and the CCP shall not be required to prepare an individual recovery plan.
Amendment 380 #
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 a (new)
Article 13 – paragraph 4 – subparagraph 1 a (new)
A resolution authority shall make prudent assumptions regarding the financial resources that may be required to achieve the resolution objectives and the resources that it expects will be available in accordance with the CCP's rules and arrangements at the time of entering into resolution.
Amendment 395 #
Proposal for a regulation
Article 13 – paragraph 6 – subparagraph 1 – point o a (new)
Article 13 – paragraph 6 – subparagraph 1 – point o a (new)
(oa) a description of the arrangements for information exchange within the resolution college prior to and during resolution, in line with the procedures set out in the regulatory technical standards referred to in Article 4(6);
Amendment 449 #
Proposal for a regulation
Article 21 – paragraph 1 – point d
Article 21 – paragraph 1 – point d
(d) to protect public funds by minimising reliance on extraordinary public financial support and the potential risk of losses for taxpayers;
Amendment 485 #
Proposal for a regulation
Article 27 – paragraph 5
Article 27 – paragraph 5
Amendment 511 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 1 a (new)
Article 29 – paragraph 1 – subparagraph 1 a (new)
The resolution authority shall terminate the contracts referred to in points (b) and (c) of the first subparagraph only if this is considered the best available option for ensuring the stability of the financial system.
Amendment 531 #
Proposal for a regulation
Article 38 – paragraph 3 a (new)
Article 38 – paragraph 3 a (new)
3a. In the case where the Union State Aid framework is applied in accordance with Article 36(1) and (2), the resolution authority, the competent authority and the Commission should coordinate the assessment of the measures provided to restore the CCP's long-term viability, any request for a resubmission of an amended plan by the CCP and the final adoption of the business reorganisation or restructuring plan.
Amendment 533 #
Proposal for a regulation
Article 39 – paragraph 2 – subparagraph 2
Article 39 – paragraph 2 – subparagraph 2
The CCP shall submit the revision referred to in the first subparagraph to the resolution authority for assessment in accordance with Article 38(3). The resolution authority, in the event that the Union State aid framework applies, shall coordinate this assessment with the Commission.
Amendment 550 #
Proposal for a regulation
Article 45 – paragraph 1 – point d a (new)
Article 45 – paragraph 1 – point d a (new)
(da) the resolution authority has defined comprehensive and credible arrangements for recovering in a timely manner the funds provided.