Activities of Miguel VIEGAS related to 2017/2005(INI)
Shadow reports (1)
REPORT Towards a pan-European covered bonds framework PDF (422 KB) DOC (70 KB)
Amendments (6)
Amendment 13 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the impacts of the financial crisis, which have undermined trust among many stakeholders, have made it necessary to introduce a greater degree of transparency and robustness in the financial system;
Amendment 19 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas CBs retained high levels of security and liquidity during the financial crisis, which has to be attributed to the quality of national regulation;
Amendment 21 #
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas subsidiarity is a key criterion which is firstly not incompatible, and which should secondly not be subordinate to harmonisation and economic integration policies;
Amendment 22 #
Motion for a resolution
Recital B d (new)
Recital B d (new)
Bd. whereas the introduction of the European Secured Notes referred to in the Green Paper on the Capital Markets Union and proposed by various institutions, which in practical terms represent a hybrid product between covered bonds and securitisation, has not helped to stabilise the financial system since they have undermined the confidence of stakeholders and may ultimately damage the covered bond market;
Amendment 36 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls for a clear definition of CBs in a European Directive; insists that the definition for securities henceforth called ‘covered bonds’ must not fall below the standards currently set by Article 129 of the CRR; requests that securities incompatible with this definition but compatible with Article 52(4) of the UCITS Directive are properly defined in the same directive under a name clearly distinct from ‘covered bonds’; suggests that this name may be ‘European Secured Notes’; (ESNs)believes that European covered bonds do not add anything positive to business financing and may even introduce factors of confusion and make the markets more opaque;
Amendment 49 #
Motion for a resolution
Paragraph 4 – introductory part
Paragraph 4 – introductory part
4. Calls on the Commission to propose a Directive defining CBs and ESNs, including all the following common principles: