Activities of Bogdan RZOŃCA related to 2021/2184(INI)
Reports (1)
REPORT on Banking Union – annual report 2021
Amendments (27)
Amendment 48 #
Motion for a resolution
Recital C
Recital C
C. whereas the problems of the banking sectorbanking sector has so far been highly resilient to the COVID-19 crisis, but there is a risk that its situation, especially with regard to NPLs, may worsen after the temporary support and business protection measures introduced during the COVID-19 crisis by the governments of individual Member States are lifted;
Amendment 76 #
Motion for a resolution
Recital F
Recital F
F. whereas there are numerous challenges to the digitalisation of finance, in particular the need to combat cybercrime, which threatens the security of customers;
Amendment 107 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that onthe core goal of the BU is the security and stability of the banking system and the prevention of bank bailouts by taxpayers; supports efforts to strengthen the BU; stresses that a solid BU will result in increased confidence in the banking sector and contribute to improving its health;
Amendment 116 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Considers that the BU should be built in a friendly and attractive way, including for Member States outside the euro area; points out that Member States not belonging to the BU are also bound by the rules of the so-called Single Rulebook, which arose as a result of the process of harmonisation and integration of the European banking system, and that their banking systems are de facto strongly linked to the BU;
Amendment 126 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the relatively good performance of banks duringbanking sector has shown a relatively high degree of resilience to the COVID- 19 crisis is related to the policiand has played an important role in minimising its negative impact on the economy, including through loan repayment moratoria; points out, however, that emergency measures implemented by the Member States during the pandemic, as well as to temporary measures under Regulation (EU) 575/2013 (Capital Requirements Regulation), have also had an indirect impact on the health of the banking sector;
Amendment 130 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Stresses the exceptional nature of the pandemic and the temporary nature of the aid measures; notes that their gradual phasing out and a return to pre-COVID- 19 capital requirements should be anticipated; stresses that while temporary measures should be tailored to the situation, conditions and pathways out of them should be clearly defined; takes note, in this context, of the decision of the Governing Council of the ECB of 16 December 2021 to cease net asset purchases under the Pandemic Emergency Purchase Programme (PEPP) at the end of March 2022; reiterates that asset purchase programmes (APPs and PEPPs) should not lead to distortions in the economy and should be guided by the principle of market neutrality; notes that an effectively implemented economic recovery programme — including reforms in the Member States — will be crucial for the security and stability of the banking sector in the EU;
Amendment 136 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Rrecalls the key role of the EU banking sector in financing the recovery of the European economyat the main challenge for the EU banking sector will be to ensure access to credit and to support the real economy during the recovery of the European economy, in the context of the phasing out of emergency support measures and a return to tighter capital requirements;
Amendment 143 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Points out that a strong and well- constructed Capital Markets Union would be an important support for the banking sector during the recovery of the European economy; stresses, in this context, that in order to complete the Capital Markets Union, it is necessary to ensure the proportionality of the legislation adopted, the protection of retail clients and the preservation of the appropriate role of national supervisory authorities as conditions for an attractive, secure and stable capital market;
Amendment 150 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the EBA, the ECB and the SRB still see many problems challenges facing the banking system, such as relatively high stocks of non-performing loans (NPLs), exposures to sectors which are sensitive to the COVID- 19 crisis, deficiencies in risk managementshortcomings in credit risk management and the governance capabilities of governing bodies, shortcomings in cyber resilience and in digital transition strategies, and discrepancies in the implementation of International Financial Reporting Standard 9 (IFRS 9); underlines with concern that these problems are likely tomay increase after the withdrawal of the emergency measures;
Amendment 170 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Supports ongoing work on the legislation finalising the implementation of the Basel III rules; stresses, in this context, that the solutions laid down in Basel III rules, including as regards output floors, should be implemented as strictly as possible;
Amendment 181 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that the banking sector is adapting to the challenges of digitalisation; stresses the need for further investments, research and adequate regulations; appreciates the work on the digital finance package; considers that the priority should be customer safety and the protection of their funds and data, greater EU involvement in the development of a legal framework that facilitates the banking sector’s fight against cybercrime and the exchange of information in this regard, inclusiveness and technological neutrality; observes with interest the work on the digital euro;
Amendment 200 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 208 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers the reduction of NPLs should remain a priority; warns that, although the situation is stable for the time being, their number is likely to increase rapidly after the withdrawal of emergency support measures, especially for SMEs; draws attention to the importance of prudential compliance, early identification and proactive management of NPLs; stresses the need for cooperation with vulnerable debtors, while acknowledging the solutions put in place by the banking sector in this regard during the pandemic (such as a moratorium on loan repayments); welcomes the adoption of the Directive on credit servicers and credit purchasers, which will help banks to reduce the number of NPLs on their balance sheets;
Amendment 219 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Is concerned about the rising level of sovereign debt on the balance sheets of banks in the BU; notes that government bonds are not risk-free assets and that risks are differentiated; emphasises that the issue of regulatory treatment of sovereign exposures (RTSE), given the complexity of the issue, requires an in-depth examination of the consequences of different approaches, both from the perspective of the banking sector and in terms of the assessment of sovereign bond market liquidity; believes that any potential solution should be balanced and treat all EU Member States fairly (in particular, without penalising non-euro area government issuers);
Amendment 236 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Nnotes that the transition to a low- carbon economy presentoses new challenges and risks related to the preference for for the banking sector associated with the objectives of the EU’s green transition, which prioritises ‘sustainable’ investments; stresses the need for an in- depth analysis of the economic efficiency of sustainablech investments in order to avoid a future bubble of green assets; calls for clear guidelines for banks based on economic dataproviding banks with clear guidelines in this regard, based on hard economic data; while recognising the value of the climate risk stress tests, calls for them to be based on realistic assumptions (in particular as regards data on the real likelihood of climate change) and for consideration to be given to the risks associated with a possible green bubble;
Amendment 255 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls that the impact of special measures implemented during the pandemic by the governments of individual Member States should be taken into account in the assessment of the current condition of banks; stresses that these measures, such as cover schemes for companies affected by COVID, distort the picture, as the decline in real economic activity does not fully translate into banks’ balance sheets; considers that the delayed impact of this downturn on the future health of banks must be taken into account;
Amendment 270 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Signals the need to prepare the banking sector for possible increases in interest rates in the euro area; notes that smaller central banks in the EU (Czech Republic, Poland, Hungary) are already raising interest rates in order to slow down inflation;
Amendment 277 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Indicates that the trend towards consolidation in the banking sector is likely to increase as a result of the pandemic; recognises the challenges posed to banking supervision by large systemically important institutions, whose possible problems may affect financial stability in many jurisdictions; stresses the benefits of preserving the diversity and multiplicity of financial sectors in maintaining financial stability;
Amendment 285 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes the problems and challenges related to home/host issues; points out that greater market integration requires crediblenotes that strengthening cross-border integration and allowing flexibility in the distribution of capital and its more free movement across the group requires credible, efficient and unconditional safeguards reflected in EU law for host Member States; stresses that adequately capitalised subsidiaries are crucial for financial stability, the protection of deposits and the pursuit of macroprudential policies in host countries;
Amendment 296 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses the need for effective anti- money laundering supervision and points to the need for cooperation and coordination between prudential supervision activities, anti-money laundering supervision activities and FIUs, in particular as regards the exchange of information on authorisation procedures, qualifying holding acquisitions, ongoing supervision and supervisory measures and sanctions; notes the Commission’s adoption of the anti- money laundering (AML) package of proposals;
Amendment 310 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Underlines the need to protect consumers from abuses and harmful practices, unfair contract terms, harmful practices and harmful products; calls for consumer access to cross-border retail financial services to be ensured;
Amendment 314 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Calls for better regulation of the activities of shadow banking institutions, including credit institutions, in order to enhance customer protection and to ensure effective supervision of the financial market;
Amendment 323 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Insists on holding banks solely responsible for their performance instead of letting taxpayers shoulder the burden of a crisis management framework;
Amendment 328 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Supports the clearer specification of the public interest assessment criteria so that the SRM is applied in a more consistent and predictable manner; proposes that consideration be given to an alternative liquidation regime for small and medium-sized banks be considered, for which bankruptcy - with its negative consequences for local communities and businesses - is currently the primary pathway; asks for a more proportionate setting of the minimum requirement for own funds and eligible liabilities (MREL) level;
Amendment 340 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Supports the updating of State aid rules in order to ensure their greater adequacy and consistency with the SRM framework and adapting them for different forms of restructuring; emphasises that one of the goals of such an update should be to enable quick and effective interventions under the SRM or in the alternative liquidation regime;
Amendment 357 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Recalls that the SSM and the SRM operate at EU level, while deposit guarantee schemes (DGSs) are operated at national level; recognises that a European deposit insurance scheme (EDIS) would improve protection for depositors in the EU and their trust in the banking sector;
Amendment 381 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Considers that the main obstacles for EDIS are concerns about risks and the quality of risk monitoring in some banking systems; stresses that the implementation of credible and effective risk reduction measures could enable an agreement on EDIS;