68 Amendments of Luis GARICANO related to 2021/0341(COD)
Amendment 95 #
Proposal for a directive
Recital 5
Recital 5
(5) Concerning mergers and divisions, the Directive (EU) 2017/1132 lays down harmonised rules and procedures, in particular for cross-border mergers and divisions of limited liability companies. Therefore, the assessment procedure by the competent authorities stipulated in this directive should be complementary to the Directive (EU) 2017/1132 and should not contradict any of its provisions. In case of those cross-border mergers and divisions which fall under the scope of Directive 2017/1132, the motivated opindecision issued by the competent supervisory authority should be part of the assessment of the compliance with all relevant conditions and the proper completion of all procedures and formalities required for the pre-merger or pre-division certificate. The motivated opindecision should therefore be transferred to the designated national authority responsible for issuing the pre-merger or pre-division certificate under Directive 2017/1132.
Amendment 98 #
Proposal for a directive
Recital 8
Recital 8
(8) In order to ensure proportionality and avoid undue administrative burden, those additional powers of competent authorities should be applicable only to operations deemed material. Only operations consisting in mergers or divisions should be treated automatically as material operations, as the newly created entity can be expected to present a significantly different prudential profile from the entities initially involved in the merger or division. Also, mergers or division should not be concluded by entities undertaking them before a prior positive opinionapproval is received from the competent authorities. Other operations (including acquisition of holding and transfers of assets and liabilities), when considered material, should be assessed by the competent authorities based on a tacit approval procedure.
Amendment 102 #
Proposal for a directive
Recital 20
Recital 20
(20) WBy way of derogation, restricted only to those limited situations where the legal system of the Member State does not allow the administrative penalties provided for in this Directive, the rules on administrative penalties may be exceptionally applied in such a manner that the penalty is initiated by the competent authority and imposed by judicial authorities. Therefore, it is necessary that those Member States still ensure that the application of the rules and penalties has an effect equivalent to the administrative penalties imposed by the competent authorities. When imposing such penalties, judicial authorities should take into account the recommendation by the competent authority initiating the penalty. TIn any case, the penalties imposed should be effective, proportionate and dissuasive.
Amendment 119 #
Proposal for a directive
Recital 38
Recital 38
(38) The purpose of assessing the suitability of members of management bodies is to ensure that those members are qualified for their role and are of good repute. Having the primary responsibility for assessing the suitability of each member of the management body, institutions should carry out the suitability assessment, followed by a verification by the competent authorities that may perform it before or after the member of the management body takes up the position. However, due to the risks posed by large institutions resulting in particular from potential contagion effects, unsuitable members of management body should be prevented from influencing the running of such large institutions with potential serious detrimental effects. It is therefore appropriate that, safe in exceptional circumstances, the competent authorities assess the suitability of members of the management body of large institutions before those members exercise their duties. This should not interfere with any statutory rights of certain bodies or legal entities to appoint representatives to supervised entities’ management bodies under applicable national law. In these cases, appropriate safeguards should be in place to ensure the suitability of these representatives.
Amendment 124 #
Proposal for a directive
Recital 43
Recital 43
(43) Upon becoming bound by the output floor laid down in Regulation (EU) No 575/2013, the nominal amount of an institution’sThe additional own funds requirement set by thean institution’s competent authority in accordance with Article 104(1), point (a), of Directive 2013/36/EU to address risks other than the risk of excessive leverage should not immediately increase as a result, all else being equal. Furthermore, in such casebe increased by the institution's becoming bound by the output floor laid down in Regulation (EU) No 575/2013, all else being equal. Furthermore, upon the institution's becoming bound by the output floor, the competent authority should review the institution’s additional own funds requirement and assess, in particular, whether and to what extent such requirement captures model riskrisks of excessive variability or lack of comparability of risk weights from the use of internal models by the institution. Where that is the case, the institution’s additional own funds requirement should be regarded as overlapping with the risks captured by the output floor in the own funds requirement of the institution and, consequently, the competent authority should reduce that requirement to the extent necessary to remove any such overlap for as long as the institution remains bound by the output floor.
Amendment 127 #
Proposal for a directive
Recital 44
Recital 44
(44) Similarly, upon becoming bound by the output floor, the nominal amount of an institution’s CET1 capital required under the systemic risk buffer should not increase where there has been no increase in the macroprudential or systemic risks associated with the institution. In such cases, the institution’smay increase. As a rule, competent orand designated authorityies, as applicable, should review the calibration of the systemic risk buffer rates and make sure that they remain appropriate and do not double-count thenot impose systemic risk buffer requirements for risks thatwhich are already fully covered by virtue of the fact that the institution is bound by the output floor. More in general, competent and designated authorities, as applicable, should not impose systemic rthe output floor, regardless of whether or not an institution isk buffer requirements for risks which are already fully covereound by the output floor.
Amendment 129 #
Proposal for a directive
Recital 45
Recital 45
Amendment 144 #
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point g
Article 1 – paragraph 1 – point 1 – point g
Directive 2013/36/EU
Article 3 – paragraph 1 – point 68
Article 3 – paragraph 1 – point 68
(68) ‘periodic penalty payments’ means daily penalties, aimed at ending ongoing breaches and compelling legal or natural person to return to compliance with their obligations under this Directive and Regulation (EU) No 575/2013national provisions transposing this Directive, obligations under Regulation (EU) No 575/2013, or obligations arising from a decision issued by the competent authority;
Amendment 161 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b – point -i (new)
Article 1 – paragraph 1 – point 4 – point b – point -i (new)
Directive 2013/36/EU
Article 21a – paragraph 2 –subparagraph 1 – introductory part
Article 21a – paragraph 2 –subparagraph 1 – introductory part
(-i) in the first subparagraph, the introductory part is replaced by the following: ‘For the purposes of paragraph 1, financial holding companies, and mixed financial holding companies referred to therein shall provide the consolidating supervisor determined in accordance with Article 111 and, where different, the competent authority in the Member State where they are established with the following information: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101’ Or. en
Amendment 163 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b – point ii
Article 1 – paragraph 1 – point 4 – point b – point ii
Directive 2013/36/EU
Article 21a – paragraph 2 – subparagraph 2
Article 21a – paragraph 2 – subparagraph 2
‘Where the approval or the exemption from approval of a financial holding company or mixed financial holding company referred to in paragraphs 3 and 4 takes place concurrently with the assessment referred to in Article 22 and8, Article 22 or Article 27a, the competent authority for the purposes of that Article shall coordinate, as appropriate, with the consolidating supervisor and, where different, the competent authority in the Member State where the financial holding company or mixed financial holding company is established. In that case, tThe assessment period referred to in Article 22(32), second subparagraph, and Article 27a(63) shall be suspended for a period exceeding 20 working day until the procedure set out in this Article is complete.’;
Amendment 164 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b a (new)
Article 1 – paragraph 1 – point 4 – point b a (new)
Directive 2013/36/EU
Article 21a – paragraph 3 – point c
Article 21a – paragraph 3 – point c
(c) the criteriab a) paragraph 3, point (c) is replaced by the following: ‘(c) the criteria regarding shareholders and members of credit institutions set out in Article 14 and the requirements laid down in Article 121 are complied with. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101’ Or. en
Amendment 165 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b b (new)
Article 1 – paragraph 1 – point 4 – point b b (new)
Amendment 172 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b c (new)
Article 1 – paragraph 1 – point 4 – point b c (new)
Directive 2013/36/EU
Article 21a – paragraph 10 – subparagraph 1
Article 21a – paragraph 10 – subparagraph 1
Amendment 179 #
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2013/36/EU
Article 21c – paragraph 2
Article 21c – paragraph 2
2. Where a retail client, an eligible counterparty or a professional client within the meaning of Sections I and II of Annex II to Directive 2014/65/EU established or situated in the Union approaches an undertaking established in a third country at its own exclusive initiative for the provision of any service or activity referred to in Article 47(1), the requirement laid down in paragraph 1 of this Article shall not apply to the provision to that person of the relevant service or activity, including a relationship specifically related to the provision of that service or activity. Without prejudice to intragroup relationships, where a third country undertaking, including through an entity acting on its behalf or having close links with such third-country undertaking or any other person acting on behalf of such undertaking, solicits clients or potential clients in the Union, it shall not be deemed to be a service provided at the own exclusive initiative of the client.
Amendment 182 #
Proposal for a directive
Article 1 – paragraph 1 – point 6 a (new)
Article 1 – paragraph 1 – point 6 a (new)
Directive 2013/36/EU
Article 22 – paragraph 2 – subparagraph 1 a (new)
Article 22 – paragraph 2 – subparagraph 1 a (new)
Amendment 184 #
Proposal for a directive
Article 1 – paragraph 1 – point 6 b (new)
Article 1 – paragraph 1 – point 6 b (new)
Directive 2013/36/EU
Article 23 – paragraph 1 – subparagraph 1 a (new)
Article 23 – paragraph 1 – subparagraph 1 a (new)
Amendment 186 #
Proposal for a directive
Article 1 – paragraph 1 – point 6 c (new)
Article 1 – paragraph 1 – point 6 c (new)
Directive 2013/36/EU
Article 23 – paragraph 2 – subparagraph 1 a (new)
Article 23 – paragraph 2 – subparagraph 1 a (new)
Amendment 187 #
Proposal for a directive
Article 1 – paragraph 1 – point 6 d (new)
Article 1 – paragraph 1 – point 6 d (new)
Directive 2013/36/EU
Article 23 – paragraph 5 a (new)
Article 23 – paragraph 5 a (new)
Amendment 188 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Chapter 3 – Title
Chapter 3 – Title
Acquisition or divesture of a qualifyingmaterial holding
Amendment 189 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27a – paragraph 1
Article 27a – paragraph 1
1. Member States shall require any institution, parent financial holding companies in a Member State, parent mixed financial holding companies in a Member State, EU parent financial holding companies and EU parent mixed financial holding companies, or other financial holding companies or mixed financial holding companies required to seek for approval in accordance with Article 21a(1) on a sub-consolidated basis or any financial holding company or mixed financial holding company within the scope of Article 21a(1) (the “acquirer”) to notify their competent authority where they intend to acquire, directly or indirectly, a qualifying holding which exceeds 15% of the eligible capital of the acquirer on a consolidated basis (the “proposed acquisition”), indicating the size of the intended holding and the relevant information, as specified in Article 27b(5).
Amendment 190 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27a – paragraph 2 – subparagraph 2
Article 27a – paragraph 2 – subparagraph 2
By way of derogation from the paragraph 2 of this Article, and of Article 22(2)revious subparagraph, when the proposed acquisition referred to in paragraph 1 of this Article or in Article 22(1) is deemed complex by the competent authorities, acknowledgment of the receipt of the notification or of any additional information shall be done promptly and in any event within ten working days following the receipt of that notification.
Amendment 191 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
3. The competent authorities shall have 60 working days from the date of the written acknowledgement of receipt of the notification and from the receipt of all documents, including those required by the Member State to be attached to the notification in accordance with Article 27b(45) (the “assessment period”), to carry out the assessment provided for in Article 27b(1) (the “assessment”).
Amendment 192 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27a – paragraph 3 – subparagraph 2
Article 27a – paragraph 3 – subparagraph 2
If the proposed acquisition consists inof a qualifying holding in a credit institution as referred in Article 22(1), the acquirer shall also still be subject to the notification requirement and the assessment under that Article. In this event, the period for the competent authority to carry out both assessments referred to in the first subparagraph and in Article 22(2) shall expire only when the later of the relevant assessment periods expires.
Amendment 193 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27a – paragraph 8
Article 27a – paragraph 8
Amendment 194 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27a – paragraph 12
Article 27a – paragraph 12
12. Member States may not impose requirements for notification to, or approval by, competent authorities of direct or indirect acquisitions or capital that are more stringent than those set out in this Article 89 of Regulation (EU) No 575/2013.
Amendment 195 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27b – paragraph 2
Article 27b – paragraph 2
2. For the purposes of assessing the criterion laid down in paragraph 1, point (c), and criterion laid down in Article 23(1), point (e), competent authorities shall consult, in the context of their verifications, the authorities competent for the supervision of the undertakings in line with Directive (EU) 2015/849.
Amendment 197 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27b – paragraph 3 – subparagraph 2
Article 27b – paragraph 3 – subparagraph 2
For the purposes of this paragraph and Article 23(2), and with regard to the criterion laid down in paragraph 1, point (c), an objection in writing by the authorities competent for the supervision of the undertakings under Directive (EU) 2015/849 shall constitute a reasonable ground for opposition.
Amendment 198 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27b – paragraph 6
Article 27b – paragraph 6
6. Notwithstanding Article 27a, paragraphs 2 to 7, where two or more proposals to acquire qualifying holdings in the same entity have been notified, the competent authority shall treat the acquirers in a non- discriminatory manner.
Amendment 199 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27b – paragraph 7 – subparagraph 1 – point a
Article 27b – paragraph 7 – subparagraph 1 – point a
(a) the minimum list of information to be provided to the competent authorities at the time of the notification referred to in Article 23(1), Article 27a(1), Article 27f(1) and Article 27k(1);
Amendment 204 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27c – paragraph 2
Article 27c – paragraph 2
2. The competent authorities shall seek to coordinate their assessments and ensure the consistency of their decisions. To this end, the decision by the competent authority of the acquirer shall indicate any views or reservations made by the other relevant competent authority that has authorised the credit institution controlled by the parent undertaking in which the acquisition is proposed.
Amendment 205 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27d – paragraph 1
Article 27d – paragraph 1
Member States shall require any institutions, parent mixed financial holding companies in a Member State, EU parent or any financial holding companies and EU parenty or mixed financial holding companies, as well as financial holding companies and mixed financial holding companies,y within the scope of Article 21a(1) to notify the competent authorities where they intend to dispose, directly or indirectly, of a qualifying holding that exceeds 15% of their eligible capital of the acquirern a consolidated basis. That notification shall be made in writing and in advance of the divestiture, indicating the size of the holding concerned.
Amendment 206 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27e – paragraph 1
Article 27e – paragraph 1
Where the acquirer fails to notify the proposed acquisition in advance in accordance with Article 27a(1) or has acquired a qualifying holding as referred to that Article despite the competent authorities’ opposition, Member States shall require those competent authorities to take appropriate measures. Such measures may include injunctions, periodic penalty payments and penalties, in accordance with Articles 65 to 72, against members of the management body and senior management. Where a qualifying holding is acquired despite opposition by the competent authorities, Member States shall, without prejudice to potential penalties, provide either for exercise of the corresponding voting rights to be suspended or for votes cast to be declared null and void.
Amendment 207 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
(a) the intended operation shall be deemed material for an institution where it is at least equal to 10 % of its total assets or liabilities, where the intended operation is performed between entities of the same group, the intended operation is deemed material for an institution where it is at least equal to 15 % of its total assets or liabilitie on a consolidated basis;
Amendment 212 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27h – paragraph 3
Article 27h – paragraph 3
3. The competent authorities shall seek to coordinate their assessments, and ensure the consistency of their decisions, and. Moreover, the competent authorities shall indicate in their decisions any views or reservations made by the competent authority supervising other entities involved in the intended operation.
Amendment 213 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
1. Member States shall require any institutions, parent financial holding companies in a Member State, parent mixed financial holding companies in a Member State, EU parent financial holding companies, EU parent mixed financial holding companies, or financial holding companies and mixed financial holding companies required to seek for approval in accordance with Article 21a(1) on a sub-consolidated basis or any financial holding company or mixed financial holding company within the scope of Article 21a(1) (the ‘financial stakeholders’) carrying out a merger or division (the “proposed operation”), to notify in advance of the completion of the proposed operation the competent authorities which will be responsible for the supervision of the entities resulting from such proposed operation, indicating the relevant information, as specified in accordance with Article 27l(4).
Amendment 215 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 1 – subparagraph 2
Article 27k – paragraph 1 – subparagraph 2
Amendment 217 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 1 – subparagraph 3
Article 27k – paragraph 1 – subparagraph 3
Amendment 218 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 5
Article 27k – paragraph 5
5. The proposed operations shall not be completed before the issuance of a positive opinionn approval by the competent authorities.
Amendment 220 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 6 – subparagraph 1
Article 27k – paragraph 6 – subparagraph 1
6. The competent authorities shall, within two working days from the completion of their assessment, issue in writing a motivated positive or negative opindecision to the financial stakeholders. Subject to national law, an appropriate statement of the reasons for the opindecision may be made accessible to the public at the request of the financial stakeholders. This shall not prevent a Member State from allowing the competent authority to publish such information in the absence of a request by the financial stakeholder.
Amendment 222 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 6 – subparagraph 2
Article 27k – paragraph 6 – subparagraph 2
The financial stakeholders shall transmit the motivated opindecision issued by their competent authorities under the first subparagraph to the authorities in charge, under the national corporate and/or civil law, of the scrutiny of the proposed operation.
Amendment 224 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 7
Article 27k – paragraph 7
7. When the proposed operation involves only financial stakeholders from the same group, and the competent authorities do not oppose the proposed operation within the assessment period in writing, the opinproposed operation shall be deemed to be positiapproved.
Amendment 226 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27k – paragraph 8
Article 27k – paragraph 8
8. The positive opinion issued by the competent authority may be limicompetent authorities may fix a maximum period for concluding the proposed operation and extend in timt where appropriate.
Amendment 228 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27l – paragraph 3 – subparagraph 1
Article 27l – paragraph 3 – subparagraph 1
3. The competent authorities may issue a negative opinion tooppose the proposed operation only if the criteria set out in paragraph 1 are not met or where the information provided by the financial stakeholder is incomplete despite a request made in accordance with Article 27k.
Amendment 231 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27l – paragraph 3 – subparagraph 2
Article 27l – paragraph 3 – subparagraph 2
With regard to the criterion laid down in paragraph 1, point (f), an objection in writing by the authorities competent for the supervision of the undertakings in line with Directive (EU) 2015/849 shall constitute a reasonable ground for negative opinthe competent authorities to oppose the proposed operation.
Amendment 233 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27m – paragraph 3
Article 27m – paragraph 3
3. The competent authorities shall seek to coordinate their assessments, and ensure the consistency of their opinions, anddecisions. Moreover, the competent authorities shall indicate in their opindecisions any views or reservations made by the competent authority supervising other financial stakeholders.
Amendment 235 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/36/EU
Article 27n – paragraph 1
Article 27n – paragraph 1
Member States shall require that, where the financial stakeholders fail to provide prior notification of the proposed operation in accordance with Article 27k(1) or have carried out the proposed operation as referred to in that Article without prior positive opinionapproval by the competent authorities, the competent authorities shall take appropriate measures. Such measures may consist in injunctions, periodic penalty payments, penalties, subject to Articles 65 to 72, against members of the management body and managers of the financial stakeholders or of the entity resulting from the proposed operation.;
Amendment 260 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48a – paragraph 1 – point a
Article 48a – paragraph 1 – point a
(a) the total value of the assets booked or originated by the third country branch in the Member State is equal to or higher than EUR 5 billion, as reported for the immediately preceding annual reporting period in accordance with Section II, Sub- section 4;
Amendment 276 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48i – paragraph 1
Article 48i – paragraph 1
1. Member States shall require third country branches to maintain a registry book enabling those branches to track and keep a comprehensive and precise record of all the assets and liabilities originated by and associated with the activities of the third country branch in the Member State and to manage those assets and liabilities autonomously within the branch. The registry book shall provide sufficient information on the risks generated by the third country branch and on how they are managed.
Amendment 296 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48k – paragraph 3 – subparagraph 1 – point b
Article 48k – paragraph 3 – subparagraph 1 – point b
(b) where Article 111 does not apply to the relevant third country group, the competent authority that would become the consolidated supervisor of that third country group in the Union in accordance with that Article, should the third country branches be treated as subsidiary institutions of the same consolidated group of entities;
Amendment 301 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48k – paragraph 5 – subparagraph 3
Article 48k – paragraph 5 – subparagraph 3
For the purposes of point (a), the assets held or originated in both the third country branches and the assets held in subsidiary institutions of the third country group shall be included in the calculation.
Amendment 306 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48l – paragraph 1 – subparagraph 1 – point a– introductory part
Article 48l – paragraph 1 – subparagraph 1 – point a– introductory part
(a) the assets and liabilities held on their books in accordance with Article 48i, or originated by the third country branch, with a breakdown that singles out:
Amendment 308 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48l – paragraph 2 – point f a (new)
Article 48l – paragraph 2 – point f a (new)
(f a) the direct provision of cross-border investment services in the Union by the head undertaking and by the subsidiaries of the head undertaking established in a third country, and the investment services that are provided in the Union by the head undertaking and by the subsidiaries of the head undertaking established in a third country on the basis of reverse solicitation.
Amendment 310 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
3 a. The competent authorities of third country branches shall share with the competent authorities of the EU subsidiaries of the same third country groups the information obtained in accordance with Article 48l(1) and (2).
Amendment 318 #
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
(a a) carrying out any of the activities referred to in Article 4(1), point (1)(b) of Regulation (EU) No 575/2013, meeting at least one of the thresholds indicated in that Article without being authorised as a credit institution;
Amendment 353 #
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point b
Article 1 – paragraph 1 – point 15 – point b
Directive 2013/36/EU
Article 78 – paragraph 1 – subparagraph 2
Article 78 – paragraph 1 – subparagraph 2
Institutions shall submit the results of their calculations referred to in the first subparagraph together with an explanation of the methodologies used to produce them and any qualitative information, as requested by EBA, that can explain the impact of these calculations on own funds requirements, to the competent authorities at least annually, but with the possibility forunless EBA to conducts the exercise biennially after the exercise has run five times, while the frequency of the submission may differ in relation to the different approaches referred to in points (a), (b) and (c) of the first subparagraph.
Amendment 416 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 2
Article 91 a – paragraph 2 – subparagraph 2
However, where it is strictly necessary to replace a member of the management body immediately, the entities may assess theconduct a lighter suitability assessment of such replacement members after they have taken up their positions. before they have taken up their positions. A complete assessment shall be carried out as soon as possible after the replacement members have taken up their positions. EBA shall issue guidelines specifying the conditions for conducting a lighter assessment, including guidance on the cases that might be considered urgent. The entities shall be able to duly justify such immediate replacement.
Amendment 428 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 3 – subparagraph 1
Article 91 b – paragraph 3 – subparagraph 1
3. Competent authorities shall acknowledge incomplete the suitability assessment writing the receipt of the application and the documentation required in accordance with paragraph 2 within two working dayshin 80 working days (“assessment period”) as from the date of the written acknowledgement of receipt of the complete application and underlying documentation.
Amendment 447 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 4
Article 91 b – paragraph 4
4. Competent authorities that request from the entities additional information or documentation, including from the entities or other authorities or which conduct interviews or hearings, may extend the assessment period for a maximum of 40 working days. However, the assessment period shall not exceed 120 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation within 10 working days as of the date of the written acknowledgement of the request from competent authorities. Failure by the entities to provide the requested information within this deadline shall result in the procedure being closed without any further assessment by the competent authority. The closure of the procedure shall be without prejudice to the possibility by the entity to submit a new application.
Amendment 481 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 10 – subparagraph 1
Article 91 b – paragraph 10 – subparagraph 1
10. EBA shall develop draft implementing technical standards on standard forms, templates and procedures for the provision of the information referred to in paragraph 2. When developing the draft implementing technical standards, EBA shall take into account existing practices and tools.
Amendment 499 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 d – paragraph 8 – subparagraph 1
Article 91 d – paragraph 8 – subparagraph 1
8. EBA shall develop draft implementing technical standards on standard forms, templates and procedures for the provision of the information referred to in paragraph 2. When developing the draft implementing technical standards, EBA shall take into account existing practices and tools.
Amendment 537 #
Proposal for a directive
Article 1 – paragraph 1 – point 26 – point b
Article 1 – paragraph 1 – point 26 – point b
Directive 2013/36/EU
Article 104 a – paragraph 6 – subparagraph 1a (new)
Article 104 a – paragraph 6 – subparagraph 1a (new)
As soon as the competent authority has completed the review in point (b), point (a) shall no longer apply. In subsequent years, competent authorities will take the above into account in the context of the regular supervisory review and evaluation process.
Amendment 539 #
Proposal for a directive
Article 1 – paragraph 1 – point 26 – point b
Article 1 – paragraph 1 – point 26 – point b
Directive 2013/36/EU
Article 104 a – paragraph 6 – subparagraph 2
Article 104 a – paragraph 6 – subparagraph 2
For the purposes of this Article and Articles 131 and 133 of this Directive, an institution shall be considered as bound by the output floor when the institution’s total risk exposure amount calculated in accordance with Article 92(3), point (a), of Regulation (EU) No 575/2013 exceeds its un-floored total risk exposure amount calculated in accordance with Article 92(4) of that Regulation.
Amendment 540 #
Proposal for a directive
Article 1 – paragraph 1 – point 26 – point b
Article 1 – paragraph 1 – point 26 – point b
Directive 2013/36/EU
Article 104 a – paragraph 6 a (new)
Article 104 a – paragraph 6 a (new)
6a. The EBA shall, by 30 June 2023, issue guidelines complementing its guidelines on the Supervisory Review and Evaluation Process, which shall further specify how to operationalise the requirements set out in paragraph 6, and in particular: (a) how competent authorities shall reflect in their supervisory review and evaluation process the fact that an institution has become bound by the output floor; (b) how competent authorities and institutions shall communicate and disclose the impact on supervisory requirements of an institution becoming bound by the output floor.
Amendment 546 #
Proposal for a directive
Article 1 – paragraph 1 – point 30 – point a
Article 1 – paragraph 1 – point 30 – point a
Directive 2013/36/EU
Article 131 – paragraph 5 – subparagraph 2
Article 131 – paragraph 5 – subparagraph 2
Amendment 549 #
Proposal for a directive
Article 1 – paragraph 1 – point 30 – point b
Article 1 – paragraph 1 – point 30 – point b
Directive 2013/36/EU
Article 131 – paragraph 5 a – subparagraph 2
Article 131 – paragraph 5 a – subparagraph 2
Amendment 554 #
Proposal for a directive
Article 1 – paragraph 1 – point 31 – point b
Article 1 – paragraph 1 – point 31 – point b
Directive 2013/36/EU
Article 133 – paragraph 2 a
Article 133 – paragraph 2 a
Amendment 558 #
Proposal for a directive
Article 1 – paragraph 1 – point 31 – point c
Article 1 – paragraph 1 – point 31 – point c
Directive 2013/36/EU
Article 133 – paragraph 8 – point c
Article 133 – paragraph 8 – point c
Amendment 560 #
Proposal for a directive
Article 1 – paragraph 1 – point 31 – point d
Article 1 – paragraph 1 – point 31 – point d
Directive 2013/36/EU
Article 133 – paragraph 9 – point g
Article 133 – paragraph 9 – point g