BETA

29 Amendments of Michiel HOOGEVEEN related to 2021/0342(COD)

Amendment 335 #
Proposal for a regulation
Recital 15
(15) To ensure that the impacts of the output floor on low-risk residential mortgage lending by institutions using IRB approaches are spread over a sufficiently long period and thus avoid disruptions to that type of lending that could be caused by sudden increases in own funds requirements, it is necessary to provide for a specific transitional arrangement. For the duration of the arrangement, when calculating the output floor, IRB institutions should be able to apply a lower risk weight to the part of their residential mortgage exposures that is considered secured by residential property under the revised SA-CR. To ensure that the transitional arrangement is available only to low-risk mortgage exposures, appropriate eligibility criteria, based on established concepts used under the SA-CR, should be set. The compliance with those criteria should be verified by competent authorities. Because residential real estate markets may differ from one Member States to another, the decision on whether to activate the transitional arrangement should be left to individual Member States. The use of the transitional arrangement should be monitored by EBA.deleted
2022/08/11
Committee: ECON
Amendment 369 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 1 – point b
(a a) Article 4 paragraph 1 point (1) is replaced by the following "(1) ‘credit institution’ means an undertaking the business of which consists of any of the following: (a) to take deposits or other repayable funds from the public and to grant credits for its own account; (b) to carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU of the European Parliament and of the Council ( 6 ), where one of the following applies, but the undertaking is not a commodity and emission allowance dealer, a collective investment undertaking or an insurance undertaking, and where the consolidating supervisor, in consultation with the supervisory college, so decides in order to address potential risks for the financial stability of the Union or, for the purpose of point (iii), potential risks of circumvention: (i) the total value of the consolidated assets of the undertaking is equal to or exceeds EUR 30 billion; (ii) the total value of the assets of the undertaking is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in that group that individually have total assets of less than EUR 30 billion and that carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU is equal to or exceeds EUR 30 billion; or (iii) the total value of the assets of the undertaking is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in the group that carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU is equal to or exceeds EUR 30 billion, where the consolidating supervisor, in consultation with the supervisory college, so decides in order to address potential risks of circumvention and potential risks for the financial stability of the Union; for the purposes of points (b)(ii) and (b)(iii), where the undertaking is part of a third-country group, the total assets of each branch of the third-country group authorised in the Union shall be included in the combined total value of the assets of all undertakings in the group; " Or. en (https://eur-lex.europa.eu/legal-content/EN/AUTO/?uri=celex:32019R2033)
2022/08/11
Committee: ECON
Amendment 590 #
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point a – introductory part
(a) a stand-alone institution in the EU and, for the purposes of complying with the obligations of this Regulation on the basis of its consolidated situation in accordance with Part One, Title II, Chapter 2, an EU parent institution, an EU parent financial holding company and an EU parent mixed financial holding companyinstitutions shall calculate the total risk exposure amount as follows:
2022/08/11
Committee: ECON
Amendment 604 #
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point b
(b) for the purposes set out in points (i) and (ii), the total risk exposure amount shall be calculated in accordance with paragraph 6: (i) institution in a Member State, for the purposes of complying with obligations of this Regulation on its individual basis; (ii) Member State, a parent financial holding company in a Member Statdeleted in case of a stand-alone subsidiary in case orf a parent mixed financial holding company in a Member State, for the purposes of complying with obligations of this Regulation on the basis of its consolidated situation;institution in a
2022/08/11
Committee: ECON
Amendment 619 #
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point c
(c) for the purposes of complying with the obligations of this Regulation on an individual basis, the total risk exposure amount of an institution which is neither a stand-alone institution in the EU nor a stand-alone subsidiary institution in a Member State shall be the un-floored total risk exposure amount calculated in accordance with paragraph 4.deleted
2022/08/11
Committee: ECON
Amendment 637 #
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point b
Regulation (EU) No 575/2013
Article 92 – paragraph 6
6. The total risk exposure amount of an entity ‘i’ for the purposes set out in paragraph 3, point (b), shall be calculated as follows: null where: i = the index that denotes the entity; TREAi = the total risk exposure amount of entity i; U-TREAi = the un-floored total risk exposure amount of entity i calculated in accordance with paragraph 4; DIconso = any positive difference between the total risk exposure amount and the un-floored total risk exposure amount for the consolidated situation of the EU parent institution, EU parent financial holding company or EU parent mixed financial holding company of the group that entity i is part of, calculated as follows: null where: U-TREA = the un-floored total risk exposure amount calculated in accordance with paragraph 4 for that EU parent institution, EU parent financial holding company or EU parent mixed financial holding company on the basis of its consolidated situation; TREA = the total risk exposure amount calculated in accordance with paragraph 3, point (a), for that EU parent institution, EU parent financial holding company or EU parent mixed financial holding company on the basis of its consolidated situation. Contribconsoi = the contribution of entity i, calculated as follows: null where: j = the index that denotes all entities that are part of the same group as entity i for the consolidated situation of the EU parent institution, EU parent financial holding company or EU parent mixed financial holding company; U-TREAj = the un-floored total risk exposure amount calculated by entity j in accordance with paragraph 4 on the basis of its consolidated situation or, in case entity j is a stand-alone subsidiary institution in a Member State, on its individual basis; F-TREAj = the floored total risk exposure amount of entity j calculated on the basis of its consolidated situation as follows: null where: F-TREAj = the floored total risk exposure amount calculated by entity j on the basis of its consolidated situation or, in case entity j is a stand-alone subsidiary institution in a Member State, for its individual basis; S-TREAj = the standardised total risk exposure amount calculated in accordance with paragraph 5 by entity j on the basis of its consolidated situation or, in case entity j is a stand-alone subsidiary institution in a Member State, for its individual basis; x = 72,5 %.deleted
2022/08/11
Committee: ECON
Amendment 687 #
Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point b
Regulation (EU) No 575/2013
Article 122 – paragraph 2
Exposures for which such a credit assessment is not available shall be assigned a risk weight of 100 %., except for exposures to SMEs as defined in Article 5 point (8) which shall be assigned a risk weight of 85%;
2022/08/11
Committee: ECON
Amendment 699 #
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No
Article 122a – paragraph 3 – point a – introductory part
(a) where the purpose of a specialised lending exposure is to finance the acquisition of physical assets, including ships, aircraft, satellites, railcars, and fleets, and the income to be generated by those assets comes in the form of cash flows generated by the specific physical assets that have been financed and pledged or assigned to the lender by one or several third parties (‘object finance exposures’), institutions shall apply the followinga risk weights: of 100%.
2022/08/11
Committee: ECON
Amendment 703 #
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point i
(i) 80 % where the exposure is deemed to be high quality when taking into account all of the following criteria: — obligations even under severely stressed conditions due to the presence of all of the following features: — adequate exposure-to-value of the exposure; — conservative repayment profile of the exposure; — of the assets upon full pay-out of the exposure or alternatively recourse to a protection provider with high creditworthiness; — exposure by the obligor or that risk is adequately mitigated by a commensurate residual asset value or recourse to a protection provider with high creditworthiness; — restrictions over its activity and funding structure; — for risk-mitigation purposes; — material operating risks are properly managed; — the contractual arrangements on the assets provide lenders with a high degree of protection including the following features: — enforceable first-ranking right over the assets financed, and, where applicable, over the income that they generate; — there are contractual restrictions on the ability of the obligor to change anything to the asset which would have a negative impact on its value; — construction, the lenders have a legally enforceable first-ranking right ovdeleted the obligor can meet its financial commensurate remaining lifetime low refinancing risk of the the obligor has contractual the obligor uses derivatives only the lenders have a legally where the assets and the underlying construction contracts; — of the following standards to operate in a sound and effective manner: — asset are tested; — authorisations for the operation of the assets have been obtained; — construction, the obligor has adequate safeguards on the agreed specifications, budget and completion date of the asset, including strong completion guarantees or the involvement of an experienced constructor and adequate contract provisions for liquidated damages; is under the assets being financed meet all the technology and design of the all necessary permits and where the asset is under
2022/08/11
Committee: ECON
Amendment 708 #
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point ii
(ii) 100 % where the exposure is not deemed to be high quality as referred to in point (i);deleted
2022/08/11
Committee: ECON
Amendment 1130 #
Proposal for a regulation
Article 1 – paragraph 1 – point 166 – point b – introductory part
Regulation (EU) No 575/2013
Article 382
(b) the following paragraphs 4a and 4b are inserted: 4a. paragraph 4, an institution may choose to calculate an own funds requirements for CVA risk, using any of the applicable approaches referred to in Article 382a, for those transactions that are excluded in accordance with paragraph 4, where the institution uses eligible hedges determined in accordance with Article 386 to mitigate the CVA risk of those transactions. Institutions shall establish policies to specify where they choose to satisfy their own funds requirements for CVA risk for such transactions. 4b. competent authorities the results of the calculations of the own funds requirements for CVA risk for all the transactions referred to in paragraph 4. For the purposes of that reporting requirement, institutions shall calculate the own funds requirements for CVA risk using the relevant approaches set out in Article 382a(1), that they would have used to satisfy an own funds requirement for CVA risk if those transactions were not excluded from the scope in accordance with paragraph 4. is deleted: By way of derogation from Institutions shall report to their
2022/08/18
Committee: ECON
Amendment 1198 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 375/2013
Article 465 – paragraph 1 – introductory part
1. By way of derogation from Article 92, paragraphs 3 and 6, parent institutions, parent financial holding companies, parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member Stateinstitutions may apply the following factor ‘x’ where calculating TREA:
2022/08/18
Committee: ECON
Amendment 1205 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (a)
(a) 560 % during the period from 1 January 2025 to 31 December 2025;
2022/08/18
Committee: ECON
Amendment 1206 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (b)
(b) 565 % during the period from 1 January 2026 to 31 December 2026;
2022/08/18
Committee: ECON
Amendment 1207 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (c)
(c) 670 % during the period from 1 January 2027 to 31 December 2027;
2022/08/18
Committee: ECON
Amendment 1208 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (d)
(d) 65 % during the period from 1 January 2028 to 31 December 2028;deleted
2022/08/18
Committee: ECON
Amendment 1209 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (e)
(e) 70 % during the period from 1 January 2029 to 31 December 2029;deleted
2022/08/18
Committee: ECON
Amendment 1212 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 2 – introductory part
2. By way of derogation from Article 92(3), point (a), EU parent institutions, EU parent financial holding companies or an EU parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States may, until 31 December 2029, apply the following formula when calculating TREA:
2022/08/18
Committee: ECON
Amendment 1221 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
For the purposes of that calculation, EU parent institutions, EU parent financial holding companies or an EU parent mixed financial holding companies shall take into account the relevant factors ‘x’ referred to in paragraph 1.
2022/08/18
Committee: ECON
Amendment 1226 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3
3. By way of derogation from Article 92(5)(a), point (i), parent institutions, parent financial holding companies or parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States may, until 31 December2032, assign a risk weight of 65 % to exposures to corporates for which no credit assessment by a nominated ECAI is available provided that that entity estimates the PD of those exposures, calculated in accordance with Part Three, Title II, Chapter 3, is no higher than 0,5 %. EBA shall monitor the use of the transitional treatment laid down in the first subparagraph and the availability of credit assessments by nominated ECAIs for exposures to corporates. EBA shall report its findings to the Commission by 31 December 2028. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.deleted
2022/08/18
Committee: ECON
Amendment 1274 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 4
4. By way of derogation from Article 92(5)(a), point (iv), parent institutions, parent financial holding companies or parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States shall, until 31 December 2029, replace alpha by 1 in the calculation of the exposure value for the contracts listed in Annex II in accordance with the approaches set out in Part Three, Title II, Chapter 6, Sections 3 and 4, where the same exposure values are calculated in accordance with the approach set out in Part Three, Title II, Chapter 3, Section 6 for the purposes of the total un-floored risk exposure amount. The Commission may, having taken into account the EBA report referred to in Article 514, adopt a delegated act in accordance with Article 462 to permanently modify the value of alpha, where appropriate.deleted
2022/08/18
Committee: ECON
Amendment 1288 #
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5
5. [...]deleted
2022/08/18
Committee: ECON
Amendment 1438 #
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – title
Article 495d Transitional arrangements for unconditional cancellable commitmentsdeleted
2022/08/18
Committee: ECON
Amendment 1441 #
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 1
1. By way of derogation from Article 111(2), institutions shall calculate the exposure value of an off-balance sheet item in the form of unconditionally cancellable commitment by multiplying the percentage provided for in that Article by the following factors: (a) 0 % during the period from 1 January 2025 to 31 December 2029; (b) 25 % during the period from 1 January 2030 to 31 December 2030; (c) 50 % during the period from 1 January 2031 to 31 December 2031; (d) 75 % during the period from 1 January 2032 to 31 December 2032.deleted
2022/08/18
Committee: ECON
Amendment 1448 #
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2
2. EBA shall prepare a report to assess whether the derogation referred to in paragraph 1, point (a), should be extended beyond 31 December 2032 and, where necessary, the conditions under which that derogation should be maintained. EBA shall submit the report on its finding to the European Parliament, to the Council, and to the Commission, by 31 December 2028. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.’;deleted
2022/08/18
Committee: ECON
Amendment 1454 #
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2 – subparagraph 2
EBA shall submit the report on its finding to the European Parliament, to the Council, and to the Commission, by 31 December 2028.deleted
2022/08/18
Committee: ECON
Amendment 1456 #
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2 – subparagraph 3
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.’;deleted
2022/08/18
Committee: ECON
Amendment 1475 #
Proposal for a regulation
Article 1 – paragraph 1 – point 200
Regulation (EU) No 575/2013
Article 501
(200) in Article 501(2), point (b) is replacedby the following: ‘(b) an SME shall have the meaning laid down in Article 5, point (8);’; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410) is deleted. Or. en
2022/08/18
Committee: ECON
Amendment 1481 #
Proposal for a regulation
Article 1 – paragraph 1 – point 201
Regulation (EU) No 575/2013
Article 501a
(201) Article 501a(1) is amended as follows: (a) point (a) is replaced by the following: (a) corporate exposure class referred to either in Article 112, point (g), or in Article 147(2), point (c), with the exclusion of exposures in default; (b) point (f) is replaced by the following: ‘(f) the refinancing risk of the exposure by the obligor is low or adequately mitigated, taking into account any subsidies, grants or funding provided by one or more of the entities listed in paragraph 2, points (b)(i) and (b)(ii);deleted. the exposure is assigned to the
2022/08/18
Committee: ECON