Activities of Kira Marie PETER-HANSEN related to 2022/2061(INI)
Plenary speeches (1)
Banking Union – annual report 2022 (short presentation)
Reports (1)
REPORT on Banking Union – annual report 2022
Amendments (32)
Amendment 4 #
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
— having regard to the first EBA thematic review on the transparency and level of fees and charges for retail banking products in the EU, published on 14 December 2022,
Amendment 6 #
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
— having regard to the outcome of the EBA 2022 transparency exercise, published on 9 December 2022,
Amendment 29 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas a political agreement was reached in 2020, a backstop to the single resolution fund (SRF) is still missing;
Amendment 41 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the ‘too big to fail’ issue remains insufficiently addressed, despite the commitment made in the aftermath of the great financial crisis;
Amendment 58 #
Motion for a resolution
Recital H
Recital H
H. whereas the finalisation of the aAnti- money laundering (AML) package should strengthen AML rules and ensure a consistent and effective implementation of these rules including by the establishment of an EU supervisory authority for AML purposes;
Amendment 91 #
1. Condemns in the strongest possible terms the Russian aggression against Ukraine and its devastating impact on the Ukrainian people; nNotes that the Russian invasion has also had social, economic and financial consequences for the EU, including exacerbating inflation trends; nNotes that banks’ direct exposures to Russia and Ukraine are limited, but that the banking sector may be affected by indirect impactight be affected by indirect impacts; calls on the ECB and national competent authorities to monitor the developments related to the war in Ukraine, in particular their ramifications on EU financial institutions; notes that banks’ exposures to energy-intensive corporates and energy derivatives have increased following the spike of energy prices; stresses that banks face increased counterparty risk exposures due to increased margin calls for banks acting as clearing members for their clients; highlights that banks should strengthen their resilience to macroeconomic and financial shocks; calls on the ECB and the national competent authorities to adopt appropriate supervisory measures to prevent the energy crisis to lead to a financial crisis;
Amendment 99 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that the banking sector, in conjunction with public support measures, has acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; deplores that this tool has not been consistently applied by other financial institutions despite similar recommendations made by other sectoral supervisors; calls on co- legislators to introduce a legally binding suspension of dividends and buy back in times of crisis as part of the on-going review of CRR and Solvency 2;
Amendment 109 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; deplores that many deviations from the international agreement have been introduced in the Council general approach, as highlighted by the EBA and the ECB in their joint statement of 4 November 2022; recalls that EU banks specificities were already taken into account in the calibration of Basel capital requirements; considers that any recognition of EU banks’ specificities should be limited to what is strictly necessary and not already reflected in the international framework;
Amendment 118 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that the ECB has decided to raise its maIs concerned by the high level of inflation standing at 8.4% in 2022; notes that in reaction to this inflation surge the ECB has embarked on its sharpest-ever increase in interest rates from 0 % to 23 % for the main refinancing operation rate; emphasises that the current bout of inflation is widely recognised as a supply- side phenomenon, making monetary policy tools unsuited to drive down inflation; stresses that higher interest rates might dis-incentivise the necessary investments to make the EU a carbon- neutral economy by 2050, as enshrined in the EU Climate law;
Amendment 130 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024; welcomes the follow-up actions already adopted by the SSM, including the issuance of good practices, which contribute to sharing of information and disseminating knowledge across the banking sector; calls on SSM to set pillar 2 requirements for banks that would not comply with the recommendation issued as part of the stress test exercise;
Amendment 134 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Welcomes the adoption of the EBA binding standards and common templates for banks’ disclosures on ESG risks; considers that these disclosures would enhance stakeholders’ information regarding institutions’ exposures to ESG risks and their strategies to address them and therefore contribute to close the data gap on ESG risks;
Amendment 135 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Welcomes the adoption of the Corporate Sustainability Reporting Directive as a way to ensure consistency, comparability and reliability of sustainability information across the financial and non-financial sector;
Amendment 136 #
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Calls for the swift adoption of the Corporate Sustainability Due Diligence Directive (CSDDD); stresses that financial institutions should be included in the scope; highlights that effective and dissuasive sanctions should be implemented for corporates violating CSDDD provisions;
Amendment 152 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. UWelcomes that Croatia became the 20th Member State to join the euro area; urges the EU Member States who are not yet part of the BU to take steps towards joining it; stresses that any accession of new Member States to the euro area should be conditional on the presence of a robust and effective anti-money laundering framework in the Member State concerned;
Amendment 158 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection; deplores that the level of charges and fees collected by financial institutions vary greatly across the EU but also across financial institutions within the same Member State, hampering the comparability between providers and damaging consumer interests; urges the Commission to address this issue, including by proposing an inducement ban as part of its upcoming Retail Investors Strategy;
Amendment 163 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Regrets the failure of financial institutions to ensure gender-balance, especially in their management bodies; calls on supervisory authorities to make use of their supervisory powers to address lack of diversity and gender-balance in the management bodies of financial institutions;
Amendment 167 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Stresses that EU financial bodies shall respect gender-balance; deeply deplores that neither the ECB governing Council, nor the Supervisory Board of the ECB or the SRB Board are gender- balanced; reiterates the Parliament’s commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 173 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; but is concerned by the asset quality deterioration due to the raising interest rates; notes that stage 2 loans have increased to 9.5% of banks’ total loans, the highest level since 2018; stresses that the vulnerabilities are building up in some market segments, including in the real estate sector; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; stresses that banks should address persistent vulnerabilities in their internal governance, including by ensuring a diversity of competences, background and gender-balanced in their management bodies; _________________ 5 ECB, ‘Publication of supervisory data’, accessed 15 December 2022.
Amendment 181 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the banking sector’s profitability has increased over the past year; deplores that part of these profits come from the risk-free profits accumulated by banks by taking advantage of the increased deposit rate;
Amendment 209 #
12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy; calls for environmental, social and governance (ESG) risks to be included in the prudential framework; notes that financial institutions feed a vicious circle, enabling climate change by financing fossil fuel related activities despite the recognition that climate change poses a major threat to financial stability; calls therefore on co-legislators to seize the opportunity of the current review of CRR and CRD to fully reflect the higher risks posed by fossil fuel exposures and other stranded assets in the banking prudential framework, including by ensuring that for each euro that a bank invests in new fossil fuel projects, it should have one euro of its own funds to cover potential losses;
Amendment 216 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls that as part of its ‘strategy for financing the transition to a sustainable economy’, the Commission pledged to ‘take action to ensure the inclusion of relevant ESG factors in credit ratings’; urges the Commission to submit to the European Parliament and the Council a legislative proposal on ESG ratings as soon as possible in order to reach an inter-institutional agreement as part of this legislature;
Amendment 219 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the link between AML and prudential risks; uUrges prudential supervisors to fully take into account AML risks in their supervisory activities and to coordinate with AML authorities and authorities countering the financing of terrorism; calls for the co-legislators to swiftly agree on the AML package, including the creation of a new AML authority; highlights that the establishment of an AML Authority is an unique opportunity to improve and simplify the coordination and exchange of information between prudential supervisors and AML authorities; calls on the upcoming AML authority and the ECB to conclude a Memorandum of Understanding defining the modalities of cooperation between them; considers that the procedure to establish the EU list of high-risk third countries should be enhanced, including by involving the AML Authority in the process to protect the integrity of the EU financial sector;
Amendment 221 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Calls on the Commission to ensure that all existing AML rules are applied; takes note of the opening of infringement procedures against Member States that do not correctly apply AMLD V; stresses the need for better coordination of law enforcement across Europe and calls for the establishment of a European Criminal Office as the next step in the fight against organised crime and money laundering;
Amendment 225 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. StressesIs concerned by the risks stemming from banks’ exposures to the shadow- banking sector; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’; stresses the need to enhance the resilience of non-bank financial intermediaries, including by elaborate specific regulatory and supervisory tools to prevent a liquidity crisis;
Amendment 234 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regard; calls on the Commission to do further work on the areas not addressed by the MiCA Regulation, such as decentralised finance, crypto lending activities, crypto conglomerates and non fungible tokens, and present new legislative proposals as soon as possible; calls on co-legislators to implement the prudential treatment of banks’ exposures to crypto-assets adopted by the BCBS on 16 December 2022 as part of the current review of the CRR;
Amendment 248 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. WPoints out that for resolution plans to be fully compliant with the legal requirements, the resolution plans shall include a comprehensive assessment on each bank’s resolvability, including as to whether substantive impediments to resolvability exist and how those impediments can be removed; welcomes the publication of the resolvability heat map; cCalls on the SRB to further improve the transparency of its decisions;
Amendment 259 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 267 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance (CMDI) framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework; stresses that a credible and well-functioning resolution regime is of paramount importance to ensure financial stability in an uncertain macroeconomic context; considers that the CMDI Review is a necessary but insufficient step to complete the Banking Union, and that this review should pave the way toward the establishment of EDIS;
Amendment 272 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Regrets that despite the political agreement in November 2020 on an early introduction, the backstop to the Single Resolution Fund (SRF) has not entered into application yet due to the delays in the ratification process of the ESM Treaty; stresses the importance of the SRF for ensuring a robust and credible crisis management framework;
Amendment 273 #
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21 b. Recalls that banks need to continue to meet their obligations and perform their key functions after the implementation of a resolution decision; is concerned that banks might face liquidity stress in resolution immediately after regaining market access; calls on EU institutions to find an agreement on establishing a credible and sufficiently sizeable liquidity provision mechanism of last resort to provide confidence and enhance predictability;
Amendment 284 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU, wherever their bank is located; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and could therefore contribute to addressing home/host issues;
Amendment 309 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Welcomes the statement by the negotiation team announcing the reopening of discussions on the EDIS at Parliament; calls for the co-legislators to reach an agreement on the file before the end of the legislative period; recalls that the ultimate goal remains to have a fully-fledged EDIS that provides loss-coverage;