7 Amendments of Thomas MANN related to 2009/0140(COD)
Amendment 90 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) The ESRB’s task should be to monitor and to assess systemic risk in normal times for the purpose of mitigating the exposure of the system to the risk of failure of systemic components and enhancing the financial system’s resilience to shocks. In this respect, the ESRB should increase financial stability and mitigate the negative impacts on the growth and employment of the real economy. In order to accomplish its mission, the ESRB should analyse all the relevant information, in particular relevant legislation with a potential impact on financial stability, such as accounting, bankruptcy and bail-out rules.
Amendment 97 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) Where the ESRB detects a risk which could seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, it should be able to issue a warning declaring the existence of an emergency situation. In such a case the ESRB should promptly inform the European Parliament, the Council, the Commission, the national supervisory authorities and the European Supervisory Authority of its warning. In the event of an emergency, the ESRB should issue an emergency warning.
Amendment 145 #
Proposal for a regulation
Article 6 – paragraph 1 – point f a (new)
Article 6 – paragraph 1 – point f a (new)
(fa) six independent persons of which each ESA must nominate two; in order to reduce the possible problem of over- focusing on banks and to increase the quality of decisions of the General Board, the nominees must not be Members of the ESAs and must be chosen on the basis of their general competence and commitment to the Union, as well as for their diverse backgrounds in academic fields or in the private sector, in particular in small and medium-sized enterprises, trade unions or as providers or consumers of financial services; at the time of their nomination, the ESAs must indicate which person is designated also to serve on the Steering Committee; the nominees must be confirmed by the other members of the General Board with voting rights; in carrying out their responsibilities, the persons nominated must neither seek nor take instructions from any Government, institution, body, office, entity or private person; they must refrain from any action incompatible with their duties or the performance of their tasks.
Amendment 202 #
Proposal for a regulation
Article 15 – paragraph 4
Article 15 – paragraph 4
Amendment 222 #
Proposal for a regulation
Article 16 a (new)
Article 16 a (new)
Article 16a Action in emergency situations 1. In the event of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, the ESRB in accordance with point (b) of Article 3(2), may issue warnings, on its own initiative or following a request by an ESA, the European Parliament, the Council or the Commission, declaring the existence of an emergency situation. These warnings should be non-public in order to guarantee a stringent analysis of financial markets in which framework the ESRB does not have to take into account any reactions that might occur on the capital market. 2. As soon as it issues a warning, the ESRB shall simultaneously notify the European Parliament, the Council, the Commission, the national supervisory authorities and the European Supervisory Authority.
Amendment 236 #
Proposal for a regulation
Article 18 – paragraph 3
Article 18 – paragraph 3
Amendment 242 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The ESRB shall report at least annuallyfour times per year to the European Parliament and to the Council.