Activities of Miguel VIEGAS related to 2017/2072(INI)
Plenary speeches (1)
Banking Union - Annual Report 2017 (debate) PT
Shadow reports (1)
REPORT on Banking Union – Annual Report 2017 PDF (410 KB) DOC (71 KB)
Amendments (15)
Amendment 23 #
Motion for a resolution
Recital –A (new)
Recital –A (new)
-A. whereas the Banking Union has protected the interests of banks and not those of populations and countries;
Amendment 24 #
Motion for a resolution
Recital –A a (new)
Recital –A a (new)
-Aa. whereas the Banking Union has further weakened the capacity for public control of banking systems by the Member States and has, moreover, served to promote and ultimately bring about several mergers and acquisitions in the banking sector of different countries;
Amendment 25 #
Motion for a resolution
Recital –A b (new)
Recital –A b (new)
-Ab. whereas the Banking Union has been operating as a political tool to force a process of capital centralisation and concentration;
Amendment 26 #
Motion for a resolution
Recital –A c (new)
Recital –A c (new)
-Ac. whereas the establishment of a pan-European banking oligopoly is both a major goal and a direct consequence of the Banking Union;whereas, as a result, this project does not tackle the ‘too-big-to- fail’ problem but rather magnifies it, does not serve the populations’ interests and is very far from addressing depositors’ security effectively;
Amendment 29 #
Motion for a resolution
Recital A
Recital A
A. whereas at the end of 2016 the total number of credit institutions in the euro area stood at 5 073 on an unconsolidated basis, down from 5 475 in 2015, 5 614 in 2014 and 6 767 in 20083, which sparked a greater concentration of market power in the sector, exacerbating the ‘too-big-to- fail’ problem; _________________ 3 For the data on 2015, 2014 and 2008, see: ECB, Report on Financial Structures, October 2016, p. 22. The data for 2016 have been sent to us by the ECB and are based on the SDW (http://sdw.ecb.europa.eu/). They can be updated once the Report on Financial Structures for 2017 is available.
Amendment 66 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the Single Supervisory Mechanism has yet again revealed its limitations;
Amendment 72 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the Banking Union is not serving any of its major fundamental purposes - to tackle the problems posed by institutions that are 'too-big-to-fail’ and avoid the use of public funds in the resolution process - that were so loudly proclaimed by its supporters;
Amendment 79 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the separation between commercial and investment banking should constitute a basic priority measure;regrets, therefore, that this has been abandoned by the Commission in its work programme;
Amendment 93 #
Motion for a resolution
Paragraph –1 (new)
Paragraph –1 (new)
-1. Rejects the Banking Union and calls for it to be dissolved, since it believes that the only way of addressing the ‘too- big-to-fail’ problem, depositors’ security and the urgent need to have a banking system that serves the populations’ interests and countries' needs in terms of development entails the end of the Banking Union and the promotion of public control and decentralisation of the banking and financial sectors;
Amendment 99 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the ECB’s ‘failing or likely to fail’ assessments in respect of Banco Popular Español S.A., Banca Popolare di Vicenza and Veneto Banca and notes the failure of the single supervisory mechanism in the case of Banco Popular;
Amendment 178 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the work done by the ECB to assess the adequacy ofPoints out that using internal models, including its new guide to the TRIM, with a view to addressing the variability in risk-weights applied to risk- weighted assets of the same class across credit institutions is jeopardising the credibility of the entire system; calls for a rapid conclusion of negotiations on output floors within the BCBS;
Amendment 261 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Is concerned about the high number of legal applications lodged before the General Court of the EU in relation to the Banco Popular Español S.A. case; asks the Commission to assess whether this could endanger the effectiveness of the new resolution regime; calls on the SRB and the Commission to provide more transparency in future resolution decisions; deplores the double standards applied by the resolution board to a number of cases in 2017, namely those concerning Banco Popular Español S.A., Banca Popolare di Vicenza and Veneto Banca;
Amendment 322 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes the ongoing technical work by the Council on a common fiscal backstop for the Single Resolution Fund (SRF), highlighting the fragility of the banking union and its inability to meet one of its fundamental objectives: avoiding recourse to publicly-funded bank bailouts;
Amendment 331 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Notes that 'preventive recapitalisation' is continuing to hamper the use of public funds to boost the capital of private banks;
Amendment 361 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that deposit protection is a common concern for all EU citizens; is currently debating the proposal on an EDIS at committee level; notes, in this respect, the Commission’s more proportionate ‘new approach’ to an EDIS as put forward in its communication of 11 October 2017however, that the harmonised national deposit guarantee schemes already introduced under Directive 2014/49/EU in line with the subsidiarity criterion are more effective in protecting the interests of the citizens of each country;