17 Amendments of Agnès EVREN related to 2020/2122(INI)
Amendment 21 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas a more stable, competitive and convergent Economic and Monetary Union requires a solid Banking Union and a more developed and safe Capital Markets Union; whereas the completion of the Banking Union would be a vital contributor to the international perception of the euro and its increased role in global markets;
Amendment 27 #
Motion for a resolution
Recital B
Recital B
B. whereas the completion of the Banking Union beyond its two pillars, the Single Supervisory Mechanism (SSM) and the Singlexisting pillars remains a priority; whereas targeted reforms in the Rresolution Mechanism (SRM), is pendingand deposit insurance area to complete the Banking Union should further enhance the robustness of banks and safeguard overall financial stability;
Amendment 51 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the urge for technological transformation has accelerated, increasing the efficiency of banks and their ambition for innovation, while exposing them at the same time to the new risks and challenges of the digital finance world, cybersecurity, reputational risks, data privacy, AML risks and consumer protection;
Amendment 60 #
Motion for a resolution
Recital F
Recital F
F. whereas stronger EU prudential and anti-money laundering (AML) supervision is necessary;
Amendment 67 #
Motion for a resolution
Recital G
Recital G
G. whereas the withdrawal of the UK from the EU has resulted in the relocation of banking services to the EU; whereas the SSM played a crucial steering and monitoring role through its systematic “preparedness” guidance and coordination with significant banks on their operating models; whereas the full assessment of effectiveness of banking sector’s preparedness to the new reality will be tested in the mid and long term perspective;
Amendment 69 #
Motion for a resolution
Recital I
Recital I
I. whereas the crisis management and deposit insurance (CMDI) framework (CMDI) should be proportional, moreensure consistent and efficient hand more coherent, and shouldling of all banks, regardless of size or business model, as well as, contribute to preserving financial stability, minimising the use of taxpayers’ money and ensuring a level playing field across the EU;
Amendment 103 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Finds that the RRF may provide impetus for the completion of the Banking Union; highlights the crucial role of the banking sector in providing access to credit and channelling available funding into the real economy, in particular into sustainable and socially responsible investments;
Amendment 129 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. NotWelcomes the ‘CRR quick fix’ with targeted changes to the Capital Requirements Regulation31 extending transitional arrangements in order to support banks’ lending capacity32 ; _________________ 31Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 32Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic (OJ L 204, 26.6.2020, p. 4). to households and businesses mitigating the economic impact of the COVID-19 pandemic and ensuring that the regulatory framework interacts smoothly with other measures addressing the crisis;
Amendment 159 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. NotWelcomes the accelerated pace of digitalisation in the banking sector, while pointing to the insufficient level ofallowing banks to better serve clients remotely and with new products and providing opportunities for increased cost-efficiency; underlines that digitalisation requires considerable resources for investments in this areaIT systems, R&D and new operating models, which may expose banks to weak profitability in the short term, particularly for banks with lower capital levels and riskier exposures; considers that bank consolidation of small and medium-sized banks could facilitate their IT investment;
Amendment 164 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Underlines the importance to secure technological neutrality in regulatory and supervisory approaches; highlights the need to address challenges posed by the use of new innovative technologies related to banking supervision and the oversight of payment systems; strongly supports the European Commission’s new Digital Finance Strategy, which will facilitate the scaling of innovative technology cross-border whilst ensuring high standards of consumer protection and financial sector resilience;
Amendment 168 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the ECB’s repwortk on the digital euro and, its report as well as the outcome of its public consultation and expects further analysis of the implications of digital currency for the banking sector, in terms of financial intermediation, lending capacity and profitability; takes note of the objective for the digital euro to function alongside cash, as a means of secure and competitive digital payment; supports the ECB’s efforts in ensuring a high level of privacy protection, confidentiality of payments data, cyber resilience, and security;
Amendment 183 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes the postponement of the implementation of the Basel III reforms and awaits the Commission’s upcoming proposal on the implementation of the finalised standards, taking into account the specificities of the EU banking sector; stresses that the Basel III reform should not hamper the ability of European banks to finance the recovery and the digital and environmental transition in Europe; stresses that, in order to safeguard its economic sovereignty and strategic autonomy, the EU needs strong and competitive European banks to offer wholesale banking services to businesses of all sizes;
Amendment 248 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefits of banking consolidation in addressing the overcapacities and fragmentation of the banking sector; , both within the EU and cross border, in addressing low profitability, overcapacities and fragmentation of the banking sector; acknowledges the encouraging trend in the banking sector towards engagement in consolidation and points in this context to the ECB Guide on the supervisory approach to consolidation, supporting well-designed and well-executed business combinations;
Amendment 250 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefits of banking consolidation, including between countries, in addressing the overcapacities and fragmentation of the banking sector;
Amendment 274 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that the EU-wide stress test launched on 29 January 2021 aims to test capital trajectories of banks in a situation of worsening asset quality; regrets, however, that the sample of 51 banks selected for the exercise is too small; calls on the European Banking Authority to broaden the scope of future stress test exercises;
Amendment 283 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes the EBA’s role in leading, coordinating and monitoring the EU financial sector’s fight against money laundering and terrorist financing; welcomes EBA's support on individual functioning of AML supervisory powers implementation across Member countries and calls for further actions to ensure AML/CFT supervision is risk based, proportionate and effective; points to the differences in approaches taken to AML/CFT supervision by national authorities and in the application of the EU regulation, which may result in regulatory arbitrage; takes note of EBA's second mandate to build a database on AML, expected to be developed in 2021, and enhance cooperation and exchange of information across European authorities; stresses the important role AML colleges for cross border groups, comprising of all AML authorities of the jurisdictions where the group operates, play in assessing how the group is performing under AML;
Amendment 295 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. NTakes note of the UK’s withdrawal from the EU; acknowledges the progress that many significant banks have achieved on their post-Brexit target operating models as agreed with the SSM, and supports the SSM’s efforts to monitor progress towards these models in the areas of assets, staff and booking practices; reiterates that in the context of relocation of business in the EU, empty shell institutions are not acceptable in the euro area; considers that existing regulatory loopholes in the EU legal framework should be addressed in order to strengthen supervision and recalls that the SSM will assume direct responsibility for the prudential supervision of systemically relevant investment firms once the revised Investment Firms regulation comes into force in June 2021; notes the UK’s withdrawal from the EU; takes note of the progress that many significant banks have achieved on their post-Brexit target operating models as agreed with the SSM, and supports the SSM’s efforts to monitor progress towards these models in the areas of assets, staff and booking practices;