12 Amendments of Corien WORTMANN-KOOL related to 2010/2006(INI)
Amendment 23 #
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas proposals for an EU framework for cross-border crisis management in the banking sector should take into account initiatives taken by international bodies, such as the G20 and IMF, in order to ensure a global level playing field,
Amendment 31 #
Motion for a resolution
Recital N
Recital N
N. whereas a limitedsignificant number of banks (“Systemic Banks”) represent an extremely high level of systemic risk due to theirare increasing in size, complexity and interconnectedness across Europe, calling for an urgent and targeted special regimeEU crisis resolution framework,
Amendment 37 #
Motion for a resolution
Recital O
Recital O
O. whereas a special regime for Systemic Banksn EU crisis resolution framework, in order to be effective in supporting interventions, requires a common set of rules, appropriate expertise and financial resources,
Amendment 46 #
Motion for a resolution
Recital P
Recital P
P. whereas the fast-track specialEU crisis resolution framework for Systemic Bcross border banks should evolve in the medium/long term towards a universal regime covering all banks in the Union.
Amendment 58 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Requests the Commission to submit to Parliament by 31 December 20110, on the basis of Article 50 and Article 114 of the Treaty on the Functioning of the European Union,, one ore more legislative proposals or proposals on an EU crisis management framework, and a resolution unit and an EU financial stability fund, following the detailed recommendations below, taking into account initiatives taken by international bodies, such as the G20 and the IMF, in order to ensure a global level- playing-field and based on a profound analysis of all alternatives available, including an impact assessment;
Amendment 77 #
Motion for a resolution
Annex – recommendation 1 – paragraph 3
Annex – recommendation 1 – paragraph 3
3. Attribute to the relevant supervisor the responsibility for crisis management and the approval of each bank’s contingency plan, as follows: • for Systemic Banks: the European Banking Authority (EBA) in close cooperationcross border banks: the consolidated supervisor within the college of national supervisors and, under the coordination of the EBA and in consultation with the Cross Border Stability Groups (as defined , the EBA retains the above- mentioned Memorandum of Understanding of June 2008); • for all other cross border non-systemic banks: the consolidated supervisor within the college, under the coordination of the EBA and in consultation with the Cross Border Stability Groupsultimate decision power and a binding mediating role as laid down by the proposal for a regulation of the European Parliament and of the Council establishing a European Banking Authority (COM(2009)0501); • for local banks: the local supervisor.
Amendment 145 #
Motion for a resolution
Annex – recommendation 2 – title
Annex – recommendation 2 – title
Recommendation 2 on SystemicCross-Border Banks
Amendment 150 #
Motion for a resolution
Annex – recommendation 2 – paragraph 1
Annex – recommendation 2 – paragraph 1
1. Systemic Banks, due to their special risk profile,Cross-border banks require to be urgently addressed by a new special regime to be known as the European Bank Company Law to be designed until the end of 2011.
Amendment 157 #
Motion for a resolution
Annex – recommendation 2 – paragraph 2
Annex – recommendation 2 – paragraph 2
2. Systemic BCros -border banks shall adhere to the new special regime which shall overcome legal impediments to effective action across borders while ensuring clear and predictable treatment of shareholders, depositors, creditors and other stakeholders.
Amendment 170 #
Motion for a resolution
Annex – recommendation 2 – paragraph 3
Annex – recommendation 2 – paragraph 3
Amendment 178 #
Motion for a resolution
Annex – recommendation 2 – paragraph 4
Annex – recommendation 2 – paragraph 4
Amendment 204 #
Motion for a resolution
Annex – recommendation 3 – paragraph 1
Annex – recommendation 3 – paragraph 1
1. AIf proved to be the most effective instrument according to the conditions in paragraph 1 of this report, an EU Financial Stability Fund shall be created, under the responsibility of the EBA, to finance interventions (rehabilitation or orderly winding-up) aimed at preserving the system’s stability and limit contagion from failing banks. The Commission shall present to the Parliament, by April 2011, a proposal with details of the Fund’s charter, structure, governance, size, operating model as well as a precise calendar for implementation (in accordance with points 2 and 3 below).