11 Amendments of Gilles BOYER related to 2015/0270(COD)
Amendment 39 #
Proposal for a regulation
Recital 17
Recital 17
(17) EDIS I should progressively evolve from a reinsurance scheme intobe considered a first step towards a fully mutualised co- insurance scheme over a number of years. EDIS I should establish a liquidity support mechanism with the ambition to progressively evolve over time into a fully-mutualised insurance scheme. In the context of efforts to deepen the EMU, together with the work on the establishment of bridge-financing arrangements for the Single Resolution Fund (SRF) and on developing a common fiscal backstop, this step isa fully mutualised co- insurance scheme is ultimately necessary to reduce the bank/sovereign links in individual Member States by means of steps towards risk sharing among all the Member States in the Banking Union, and thereby to reinforce the Banking Union in achieving its key objective. However, such risk sharing implied by steps to reinforce Banking Union must proceed in paralthe progress made towards completing the Banking Union is not yet sufficient to make a fully-fledged EDIS feasible. The establishment of EDIS I, therefore, reflects the current level of integration and trust amongst the national banking sectors. In time, and coupleld with risk reducing measures designed to break the bank-sovereign link more directlyfurther measures to reinforce the Banking Union and reduce the divergence in the degrees of risk amongst participants, EDIS I should serve to strengthen trust amongst the national banking sectors and facilitate progress towards a fully-mutualised co- insurance scheme.
Amendment 100 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) credit institutions established in a participating Member State and subject to Regulation (EU) No 575/2013 (CRR regulation);
Amendment 110 #
Proposal for a regulation
Article 1 – paragraph 1 – point3
Article 1 – paragraph 1 – point3
Regulation (EU) No 806/2014
Article 2 – paragraph 2 – subparagraph 1 – point b
Article 2 – paragraph 2 – subparagraph 1 – point b
(b) credit institutions affiliated to participating deposit-guarantee schemes, insofar that they are subject to regulation EU 575/2013, with the exception of branches of credit institutions that have their head office outside the Union.
Amendment 133 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) 806/2014
Article 41 a – paragraph 3
Article 41 a – paragraph 3
3. The DIF shall also cover 20% of the excess loss of the participating DGS as set out in Article 41c. The participating DGS shall repay the amount of funding it obtained under paragraph 2 of this Article, less the amount of excess loss covIn case a participating DGS encounters a payout event or is used in resolution in accordance with Article 79 of this Regulation, it may request a loan from the DIF wher,e in accordance with the procedure set out inArticle 41ots intervention will diminish its available financial means below 15% of its target level.
Amendment 242 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 1 a (new)
Article 74 a – paragraph 1 a (new)
1a. Each year the individual contribution of each participating credit institution shall be based on: a) a flat contribution, that is pro-rata based on the amount of an institution's covered deposits, with respect to the total covered deposits in the credit institutions referred to in Article 2(2), point (b); b) a risk-adjusted contribution with respect to the other participating credit institutions in the Banking Union, taking into account the likelihood of being resolved instead of liquidated as well as the level and quality of MREL buffers.
Amendment 249 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation 806/2014
Article 74 b – paragraph 1
Article 74 b – paragraph 1
1. By the end of the reinsurance period[5 years from the date of entry into force of this amending Regulation], the available financial means of the DIF shall reach an initial target level of 20% of fourninthof the sum of the minimum target levels that participating DGSs shall reach in accordance with the first subparagraph of5%of the target level referred to in Article 10(2) of 2014/49/EU calculated as a percentage of the amount of covered deposits in all credit institutions referred to in Article 102(2) of Directive 2014/49/EU, point (b), of this Regulation.
Amendment 279 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – point a
Article 74 c – paragraph 5 –subparagraph 4 – point a
(a) the level and quality of loss absorbing capacity of the institution, excluding own funds and non-covered deposits;
Amendment 290 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 4 a (new)
Article 74 c – paragraph 5 –subparagraph 4 a (new)
Once the DIF has reached its own fully fledged target level, the target level of participating DGS should be reduced to account for the benefit of mutualisation of liquidity risk.
Amendment 304 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 f – paragraph 3
Article 74 f – paragraph 3
3. The Board may decide to lend to other deposit guarantee schemes within non-participating Member States upon request and up to a limit of 25% of the available financialmeans of the DIF. Such a decision should be taken unanimously in the Plenary session. Article 12 of Directive 2014/49/EU shall apply by analogy with respect to the borrowing conditions.
Amendment 314 #
Proposal for a regulation
Article 1 – paragraph 1 – point 39 a (new)
Article 1 – paragraph 1 – point 39 a (new)
Regulation (EU) No 806/2014
Article 94 – paragraph 3 a (new)
Article 94 – paragraph 3 a (new)
39a. in Article 94, the following paragraph is added: ‘3a. By 31 December five years after entry into force of this amending Regulation the Commission shall review the functioning of EDIS I. The review shall assess in particular the following: (a) the adequacy of funding mechanism and target level of EDIS I and the cases of use of the liquidity mechanism; (b) the scope of measures financed by EDIS I under article 41a and the entities referred to in Article 2(2), point (b); (c) the appropriateness of an extension of EDIS I from providing liquidity support to deposit insurance mechanisms. (d) the appropriateness of introducing a publicly funded backstop mechanism or the DIF. The Commission shall submit a report to the European Parliament and the Council. Where appropriate the review shall be accompanied with a legislative proposal.
Amendment 316 #
Proposal for a regulation
Article 1 – paragraph 1 – point 40
Article 1 – paragraph 1 – point 40
Regulation (EU) No 806/2014
Article 99 – paragraph 5 a
Article 99 – paragraph 5 a
5a. By way of derogation from paragraph 2, Article 1(2), Part IIa and Part III, Title V Chapter 2 Section 1a shall apply from [OP insertone of the following dates, whichever the latest: a) date of entry into force of this amending Regulation]; b) date of entry into force of the Directive on accelerated extrajudicial collateral enforcement mechanism (AECE); c) date of completion of a targeted asset quality review of all less significant institutions referred to in Article 6(4) of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions. d) date of compliance of all participating DGS with their applicable target levels. e) date of entry into force of targeted review of CRR regulation that renders automatic the granting of liquidity waivers in cross border groups subject to the relevant safeguards.