15 Amendments of Markus FERBER related to 2012/0244(COD)
Amendment 104 #
Proposal for a regulation
Recital 4
Recital 4
(4) The conferral of supervisory tasks to the ECB in the banking sector for part of the Member States of the Union should not in any way hamper the functioning of the internal market in the field of financial services. It is therefore necessary to ensure a strong role of the EBA in the new SSM as well as the proper functioning of the EBA following that conferral.
Amendment 107 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4 a) Given that the ECB covers only the Euro Area and an equal involvement of the non-Euro area countries in the decision making is not possible without a change of the statute of the ECB, a supervisory mechanism with a leading role of the ECB may lead to a split of the European Union and the Internal Market. To prevent this, any disadvantage for the non-Euro area countries within the ECB needs to be balanced by a stronger stand for the non-Euro area countries within the EBA.
Amendment 110 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4 a) Bearing in mind that the EBA, in works of which all Member States participate with equal rights, was established with an aim to develop the single rulebook and ensure the coherence of supervisory practices within the EU and given the establishment of the single supervisory mechanism with a leading role of the ECB, the EBA needs to be equipped with adequate instruments, which will enable it to efficiently perform its entrusted tasks concerning the integrity of the single market in the area of financial services.
Amendment 113 #
Proposal for a regulation
Recital 4 b (new)
Recital 4 b (new)
(4 b) Considering previous experience it is necessary to strengthen EBA powers, particularly with regard to stress testing.
Amendment 117 #
Proposal for a regulation
Recital 5
Recital 5
(5) In view of the supervisory tasks conferred on the ECB by Council Regulation (EU) No …/… [127(6) Regulation], EBA should be able to carry out its tasks also in relation to the ECB. In order to ensure that existing mechanisms for settlement of disagreements and actions in emergency situations remain effective, a specificcommon procedure, binding for all competent authorities, should be provided for. In particular, if the competent authority including the ECB does not comply with an action by EBA to settle a disagreement or to address an emergency situation, it should be required to explain its reasons. In that case, whenever based on requirements set out in directly applicable Union law EBA can adopt an individual decision addressed to the financial institution concerned, it should do so.
Amendment 122 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5 a) The mandate of the EBA to settle disagreements involving the ECB with regard to cases concerning prudential supervision can be inferred from the fact that both the establishment of the EBA and the conferment of specific supervisory tasks on the ECB have been introduced through secondary law.
Amendment 126 #
Proposal for a regulation
Recital 6
Recital 6
(6) In order to ensure that interests of all Member States are adequately taken into account and to allow for the proper functioning of the EBA with a view to maintain and deepen the internal market in the field of financial services, the voting modalities within the Board of Supervisors should be adapted, in particularboth with regard to decisions taken by the EBA at simple majority and decisions taken at qualified majority where they concern supervisory issues.
Amendment 132 #
Proposal for a regulation
Recital 7
Recital 7
(7) Decisions concerning breaches of Union law and settlement of disagreements should be examined by an independent panel composed of voting members of the Board of Supervisors which do not have any conflicts of interest, appointed by the Board of Supervisors. The decisions proposed by the panel to the Board of Supervisors should be considered as adopted uonless rejected by a simple majority, which should include an adequate number of votes from members from Member Sy if accepted by the Board of Supervisors at simple majority in two separate votings, one of which tatkes participating in the SSM and from Member States that do not participate in the SSMlace in the group of Member States whose currency is the euro and the second in the group of the remaining Member States.
Amendment 143 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8 a) Since the Member States, which entered into close cooperation with the ECB, are devoid of voting rights in the Governing Council of the ECB, which results in a lack of effective influence on the decision making process within the SSM, a special procedure for settlement of disagreements between the ECB and a competent authority of a Member State which has entered into close cooperation should be established. This will compensate for the absence of forceful instruments to sway the decision making process taken within the SSM and at the same time, will safeguard the right to protect justified interests, in particular the stability of the local financial market. To that end, the EBA should be equipped with the ultimate authority to settle disagreements between the ECB and the competent authority of a Member State that has entered into close cooperation with the ECB.
Amendment 147 #
Proposal for a regulation
Recital 9
Recital 9
(9) The composition of the Management Board should be balanced and proper representation of Member States participating in the SSM, Member States that have entered into close cooperation and Member States not participating in the SSM should be ensured.
Amendment 163 #
Proposal for a regulation
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
Regulation (EU) No 1093/2012
Article 1 – paragraph 5 – subparagraph 1
Article 1 – paragraph 5 – subparagraph 1
-1. In Article 1(5), the first subparagraph is replaced by the following: "5. The objective of the Authority shall be to act as the final decision-making body for supervisory policy regarding all financial institutions within the meaning of Article 4(1) which are established in the European Union in order to protect the public interest by ensuring the short, medium and long-term stability and effectiveness of the financial system, for the Union economy, its citizens and businesses. The Authority shall [...]: (a) improve the functioning of the internal market, including, in particular, a sound, effective and consistent level of regulation and supervision; (b) ensure the integrity, transparency, efficiency and orderly functioning of financial markets; (ba) strengthen the integration of the European Central Bank into the system of European Supervisory Authorities; (c) strengthen international supervisory coordination; (d) prevent regulatory arbitrage and promote equal conditions of competition; (e) ensure that the taking of credit risk and other risks is appropriately supervised; and (f) enhance consumer protection. The ECB shall at the request of EBA exercise the tasks set out in Article 4(1) off Council Regulation (EU) No .../... [conferring specific tasks on the ECB] in relation to credit institutions established in the participating Member States and which fall in one of the following categories: a) credit institutions, financial holding companies or mixed financial holding companies which have received or requested public financial assistance; b) the most significant credit institutions, financial holding companies and mixed financial holding companies of European systemic importance at the highest level of consolidation, based on: i) their size as reflected in the sum of exposure values of all assets and off- balance sheet liabilities not deducted when determining the common equity tier 1 capital for regulatory purposes; ii) the systemic risk for the domestic economy concerned, expressed as the percentage of assets of a bank divided by GDP of its home country; and iii) their cross-border activity as reflected in cross-jurisdictional claims such as deposits and other assets in respect of customers or other financial operators located in another country and cross- jurisdictional liabilities such as loans and notes in respect of customers or other financial operators located in another country, and which together cover at least half of the banking sector in the euro area as a whole and in each Member State."
Amendment 218 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 – paragraph 2 – subparagraph 1
Article 41 – paragraph 2 – subparagraph 1
"For the purposes of Article 17 and 19, the Board of Supervisors shall establishconvoke an independent panel consisting of the Chairperson and twofour members appointed by the Board of Supervisors among its voting members. At least onetwo members of the independent panel shall be from a Member State which is not a participating Member State in accordance with Regulation (EU) No …/… [127(6) TFEU Council Regulation], at least one of which shall be from a Member State not exercising close cooperation with the ECB either."
Amendment 223 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 – paragraph 2 – subparagraph 2 a new
Article 41 – paragraph 2 – subparagraph 2 a new
"By way of derogation from this paragraph , from the date when the euro is not the currency of only two Member States, the independent panel shall consist of a Chairperson and two members appointed by the Board of Supervisors, among its voting members. At least one member of such an independent panel shall be from a Member State in which the currency is not the euro."
Amendment 233 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 1
Article 44 – paragraph 1 – subparagraph 1
"1. Decisions of the Board of Supervisors shall be taken by a simple majority of its memberin two separate votings, one of which takes place in the group of the Member states with the euro as common currency ant the second in the group of the remaining Member States. Each member shall have one vote."
Amendment 260 #
Proposal for a regulation
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Regulation (EU) No 1093/2010
Article 45 – paragraph 1 – subparagraph 3
Article 45 – paragraph 1 – subparagraph 3
"The term of office of the members elected by the Board of Supervisors shall be 2 1/2 years. That term may be extended once. The composition of the Management Board shall be balanced and proportionate and shall reflect the Union as a whole. The Management Board shall include at least twohree representatives from Member States in which are not participating Member States in accordance with Regulation [127(6) TFEU Council Regulation] nor havethe currency is not the euro. At least one of which comes from a Member State, which did not entered into close cooperation with the ECB in accordance with that Regulationeither. Mandates shall be overlapping and an appropriate rotating arrangement shall apply."