20 Amendments of Luis GARICANO related to 2020/2122(INI)
Amendment 58 #
Motion for a resolution
Recital F
Recital F
F. whereas prudential supervision is necessary and the fight against fraud and anti-money laundering supervision is necessarhould be a priority;
Amendment 71 #
Motion for a resolution
Recital I
Recital I
I. whereas the crisis management and deposit insurance (CMDI) framework should be proportional, more efficient and more coherent, and should contribute to financial stability, the end of implicit guarantees and the protection of taxpayers;
Amendment 83 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the entry of Bulgaria and Croatia into the Banking UnionExchange Rate Mechanism (ERM II) and therefore into the Banking Union, and stresses that participation in these schemes is inextricably linked up with prudent financial policy;
Amendment 161 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes the accelerated pace of digitalisation in the banking sector, while pointing to theobserving an insufficient level of investment in this area; welcomes the adoption of the digital finance package by the Commission; and, in particular, the proposal for a Digital Operational Resilience Act (DORA) in order to ensure financial entities put in place the adequate safeguards to mitigate the impact of ICT related incidents;
Amendment 187 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the interdependencies between banks and central counterparties (CCPs), highlights in this regard the risks of excessive reliance on UK CCPs and welcomes the measures setting the criteria for classifying third-country CCPs adopted by the COM during the past year;
Amendment 193 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies and calls on all institutions and bodies to prioritise achieving full gender balance as soon as possible, including through providing gender balanced shortlists of candidates for all future appointments requiring Parliament's consent, including the ECB and the EU's top financial institutions;
Amendment 194 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies; and asks for future appointments to be in line with the European Parliament resolution of 14 March 2019 on gender balance in EU economic and monetary affairs nominations;
Amendment 209 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that sound management of credit risk should remain thea key priority for the SSM;
Amendment 213 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short termas a result of Covid-19 health measures, and calls for the final adoption of an adequate regime to manage the increase in NPLs;
Amendment 224 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. SRecognises the role played by banks in supporting businesses and the real economy during the pandemic, and stresses that banks should diligently assess the financial soundness and viability of businesses, proactively engage with distressed debtors to manage their exposures, and offer financing and restructuring options to viable companies;
Amendment 249 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefits of banking consolidation, including across borders, in addressing the overcapacities and fragmentation of the banking sector;
Amendment 273 #
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 in the exercise is too narrow; calls on the EBA to enlarge the scope in subsequent stress test exercises; stresses that in the run-up to a possible EDIS it is all the more important to build trust by running stress tests and asset quality reviews on a rolling sample of LSIs;
Amendment 277 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. NotWelcomes the efforts of the SSM to provide guidance and clarity to banks for self-assessing and appropriately reporting environmental and climate change-related risks; considers the SSM climate risk stress test an important step in evaluating banks’ practices and identifying concrete areas of improvement;
Amendment 286 #
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; and looks forward to the Commission’s proposal on Anti Money Laundering regulation;
Amendment 316 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Considers it necessary to have in place an EU liquidation regime for more harmonised framework, avoiding limbo situations, in the handling of banks for which the SRB assesses that there is no public interest in resolution;
Amendment 320 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Recalls the important role of the SRM to provide stability and clarity for the banking sector, investors and consumers and to protect taxpayers; calls for the SRM to be used to its full potential to ensure the orderly resolution of any failing bank with minimal costs to the tax payer and the real economy; believes that if more European banks were subject to the SRM framework then the more consistent treatment of failing banks would better protect European taxpayers, improve market discipline and reduce the burden on other solvent banks and taxpayers;
Amendment 336 #
33. Considers it necessary to make resolution work for more banks, which requires reviewing the public interest assessment in order to allow resolution tools to be applied to a broader group of banks;
Amendment 342 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Supports the idea of considering the role of group recovery and resolution plans in the crisis management framework, such that the calibration of MREL and banks’ contributions to the various safety nets would be truly risk-based, reflecting the likelihood and magnitude of the use of these safety nets under the preferred crisis management strategy;
Amendment 343 #
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34 a. Considers it necessary to align the incentives attached to the use of various existing crisis management tools, to prevent arbitrage between preventive action, resolution and liquidation; notes that it would require imposing the same burden sharing conditions in preventive interventions as in precautionary recapitalisations, since both types of tools aim at preventing the failure of a bank, and aligning burden sharing in liquidation and resolution for the granting of external funding;
Amendment 345 #
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34 b. Calls on the Commission to align the state aid framework with the reviewed CMDI framework, with a view to enforcing the necessary alignment of incentives across crisis management methods, inside and outside resolution;