20 Amendments of Corien WORTMANN-KOOL related to 2011/0202(COD)
Amendment 194 #
Proposal for a regulation
Recital 74
Recital 74
(74) Credit institutions and investment firms should hold a diversified stock of liquid assets that they can use to cover liquidity needs in a short term liquidity stress. When they use the, which should be reflected in the definition of the Liquidity Coverage Ratio (LCR). A concentration of assets and overreliance on market liquidity creates systemic risk to the financial sector and should be avoided. It would therefore be appropriate to promote a diversified and high quality liquidity buffer consisting of different asset categories. As these asset categories contain instruments with differing liquidity characteristics, appropriate haircuts have to be set. When credit institutions use the liquidity stock, they should put in place a plan to restore their holdings of liquid assets and competent authorities should ensure the adequacy of the plan and its implementation.
Amendment 214 #
Proposal for a regulation
Recital 88
Recital 88
(88) Technical standards in financial services should ensure harmonisation, uniform conditions and adequate protection of depositors, investors and consumers across the Union. As a body with highly specialised expertise, it would be efficient and appropriate to entrust EBA with the elaboration of draft regulatory and implementing technical standards which do not involve policy choices, for submission to the Commission. EBA should ensure efficient administrative and reporting processes when drafting regulatory technical standards.
Amendment 250 #
Proposal for a regulation
Article 4 – paragraph 1 – point 22 a (new)
Article 4 – paragraph 1 – point 22 a (new)
(22a) 'public sector bank' means a credit institution that has been set up and is owned by a Member State's central government, regional government or local authorities and whose business model is to primarily provide funding for the local public sector, the regional public sector and providers of services of general economic interest;
Amendment 304 #
Proposal for a regulation
Article 9 – paragraph 1 – introductory part
Article 9 – paragraph 1 – introductory part
Competent authorities may waive the application of the requirements set out in Parts Two to Four and Six to Eight to one or more credit institutions situated in the same Member State and which are permanently affiliated to a central body which supervises them and which is established in the same Member State, if national law provides all of the following:
Amendment 858 #
Proposal for a regulation
Article 374 – paragraph 1 – subparagraph 2 – point b – introductory part
Article 374 – paragraph 1 – subparagraph 2 – point b – introductory part
(b) an institution using the approach in Title II, Chapter 2 shall assign credit quality step 3 to this counterparty. Notwithstanding the foregoing, for regional governments, local authorities and public sector entities the institution shall assign a credit quality based on Article 110 and Article 111;
Amendment 944 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point a
Article 404 – paragraph 1 – subparagraph 1 – point a
(a) Level I assets: (i) cash and deposits held with central banks to the extent that these deposits can be withdrawn in times of stress;
Amendment 958 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point c
Article 404 – paragraph 1 – subparagraph 1 – point c
(c) transferable assets representing claims on or guaranteed by the central government of a Member State or a third country if the institution incurs a liquidity risk in that Member State or third country that it covers by holding those liquid assets, by central banks, non-central government PSE's, the Bank for International Settlements, the International Monetary Fund, the European Commission and multilateral development banks;
Amendment 961 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point d
Article 404 – paragraph 1 – subparagraph 1 – point d
(d) Level II assets, subject to appropriate haircuts: (i) transferable assets that are of high liquidity and credit quality. (ii) collateralised bonds of which the collateral is composed of assets with a maximum Standardised Basel 2 risk weighting of 35%; (iii) corporate assets; (iv) assets that are European Central Bank eligible or equivalent.
Amendment 986 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 2
Article 404 – paragraph 1 – subparagraph 2
Pending a uniform definition in accordance with Article 481(2) of high and extremely high liquidity and credit qualityof the Level I and Level II asset classes by EBA in accordance with Article 481(2), institutions shall identify themselves in a given currency transferable assets that are respectively of high or extremely high liquidity and credit quality as well as those that are European Central Bank eligible or its equivalent. Pending a uniform definition, competent authorities may, taking into account the criteria listed in Article 481(2), provide general guidance that institutions shall follow in identifying assets of high and extremely high liquidity and credit quality. In the absence of such guidance, institutions shall use transparent and objective criteria to this end, including some or all of the criteria listed in Article 481(2).
Amendment 1049 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 2
Article 404 – paragraph 3 – subparagraph 2
The condition in point (b) shall not apply in case of liquid assets held to meet liquidity outflows in a currency in which there is an extremely narrow definition of central bank eligibility. In case of currencies of third countries, this exception shall apply and only apply if the competent authorities of the third country apply the same exception and the third country has comparable reporting requirements in place. The conditions in point (c), (d) and (e) shall only apply to Level I assets as referred to in paragraph 1.
Amendment 1082 #
Proposal for a regulation
Article 405 – paragraph 1 – point c
Article 405 – paragraph 1 – point c
(c) they are legally and practically readily available at any time during the next 30 days to be liquidated via outright sale or repurchase agreements, or pledging at the European Central Bank in order to meet obligations coming due. Liquid assets referred to in point (c) of Article 404(1) which are held in third countries where there are transfer restrictions or which are denominated in non-convertible currencies shall be considered available only to the extent that they correspond to outflows in the third country or currency in question;
Amendment 1087 #
Proposal for a regulation
Article 405 – paragraph 1 – point e – introductory part
Article 405 – paragraph 1 – point e – introductory part
(e) a portion of the liquid assets referred to in points (a) to (d) in Article 404(1) is periodically and at least annually liquidated via outright sale or repurchase agreements for the following purposes:
Amendment 1096 #
Proposal for a regulation
Article 406 – paragraph 1
Article 406 – paragraph 1
1. The value of a liquid asset to be reported shall be its market value, or the central bank value for non-marketable central bank eligible assets, subject to appropriate haircuts that reflect at least the duration, the credit and liquidity risk and typical repo haircuts in periods of general market stress. The haircuts shall not be less than 15% for the assets in points (d) to (f) of Article 404(1). The haircuts for the assets in point (g) of Article 404(1) shall not be less than 20%, or the haircut applied by the central bank, whichever is more conservative. If the credit institution hedges the price risk associated with an asset, it shall take into account the cash flow resulting from the potential close-out of the hedge.
Amendment 1329 #
Proposal for a regulation
Article 436 – paragraph 1 – introductory part
Article 436 – paragraph 1 – introductory part
1. Institutions shall disclose the following information regarding their leverage ratio as defined in Article 416 and their management of the risk of excessive leverage as defined in point (B) of Article 4(2) of Directive [inserted by OP], after the date from which the leverage ratio has to be applied by institutions as a binding measure, and after approval by the European Parliament and the Council of the leverage ratio as a binding measure:
Amendment 1403 #
Proposal for a regulation
Part 10 – chapter 1 – title
Part 10 – chapter 1 – title
Own funds requirements, unrealised gains and losses measured at fair value and deductions, deductions and Credit Valuation Adjustment
Amendment 1454 #
Proposal for a regulation
Part 10 – section 5 a (new)
Part 10 – section 5 a (new)
Section 5 a (new) Credit Valuation Adjustment Article 461a Scope of application for derivatives transactions with pension funds By way of derogation from Article 372(1), during the period referred to in Article 68, Paragraph 1a of Regulation [...] on OTC derivatives, central counterparties and trade repositories, and including any extensions thereof as provided for in that article, institutions shall not calculate the own funds requirement for CVA risk for derivatives transactions as referred to in Article 71 of Regulation [...] and entered into with pension scheme arrangements as defined in Article 2 of that Regulation.
Amendment 1460 #
Proposal for a regulation
Article 462 – paragraph 2 a (new)
Article 462 – paragraph 2 a (new)
2 a. Instruments that do not meet the requirement laid down in Article 26(c)(i), but do meet all other requirements laid down in Article 26, shall nevertheless qualify as Common Equity Tier 1 instruments.
Amendment 1587 #
Proposal for a regulation
Article 482 – paragraph 2 – point i
Article 482 – paragraph 2 – point i
(i) whether introducing the leverage ratio as a requirement for institutions would effectively constrain the risk of excessive leverage on the part of those institutions, in particular for public sector banks and, if so, whether the level for the leverage ratio should be the same for all institutions or should differ for different types of institutions and, in the latter case, whatif additional calibrations or a transition period would be required.
Amendment 1595 #
Proposal for a regulation
Article 482 – paragraph 3 – point a – point ix
Article 482 – paragraph 3 – point a – point ix
(ix) bank lending, with a particular focus on lending to small and medium enterprises, the local and regional public sector and on trade financing, including lending under official export credit insurance schemes;
Amendment 1624 #
Proposal for a regulation
Article 487 – paragraph 2
Article 487 – paragraph 2