Activities of Martin SCHIRDEWAN related to 2019/2130(INI)
Shadow reports (1)
REPORT on Banking Union – annual report 2019
Amendments (11)
Amendment 19 #
Motion for a resolution
Recital A
Recital A
A. whereas the process of deepening the Economic and Monetary Union requires a solid Banking Union as an indispensable building block to the euro area’s financial stability, as well as the creation of a mechanism of fiscal stabilisation for the euro area as a wholea healthy banking system is a prerequisite for economic growth and financial stability;
Amendment 26 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas downside risks to global and euro area economic growth have increased and continue to create financial stability challenges;
Amendment 33 #
Motion for a resolution
Recital C
Recital C
Amendment 41 #
Motion for a resolution
Recital D
Recital D
D. whereas the development of the Single Resolution Mechanism (SRM) was efficienta useful but not yet completed instrument to avoid the socialisation of losses;
Amendment 46 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas more than ten years after the financial crisis the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 80 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. WelcomNotes the overall increased resilience of the European banking system, as attested by the EBA’s 2018 Risk Assessment of the European Banking System; remains concerned about the fragility of the European Banking System and is highly worried that the existing tools as laid out on CRR/CRD and BRRD will be insufficient to avoid major economic shocks in a future banking crisis and that the socialisation of losses will once more be necessary;
Amendment 136 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Is concerned about the erosion of the public banking system and the need for competitiveness and profit- maximisation; believes that public ownership of the banking system should be promoted in order to allow for the stable and long-term funding of economic activities;
Amendment 142 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes thNotes some progress made in the banking sector in reducing risk and increasing financial stability; is, however, worried that the sector remains very fragile and the necessary consolidation has not taken place since the last financial crisis;
Amendment 167 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that work on the implementation of the final Basel III standards has already started; recalls its resolution of 23 November 2016 on the finalisation of Basel III and calls on the Commission to act on the recommendations therein when drafting the new legislative proposalcalls on the Commission not to deviate from international agreements;
Amendment 255 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that banks need to be able to operate aIs concerned by the latest discussions on the need for cross -borders while managing their capital and liquidity at a consolidated level, in order to diversify their risks and address any lack of profi banking mergers; urges the Commission to undertake a detability; highlights that rules should allow for greater flexibility for the parent company in this regard, while specifying that, in the event of a crisis, the parent company should provide capital and liquidity to the subsidiary located in the host countryed impact assessment on such mergers and their effects on financial stability and too big to fail before advancing any proposals in this regard;
Amendment 258 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Stresses that national banking systems should be maintained and must not be jeopardised by further cross-border harmonisation efforts; sees in this regard different comparisons with the US model of financing the economy with great concern as this model might be able to offer higher short term profits but is at the same time more volatile;