Activities of Jean-Paul GAUZÈS related to 2012/0150(COD)
Plenary speeches (1)
Framework for the recovery and resolution of credit institutions and investment firms - Deposit guarantee schemes (debate)
Amendments (31)
Amendment 193 #
Proposal for a directive
Recital 23 a (new)
Recital 23 a (new)
(23a) The appointment of a special manager has proven an efficient early intervention tool in many Member States. It should be seen as a tool among others that competent authorities may use where deemed necessary, in particular in relation to small and medium-size institutions.
Amendment 236 #
Proposal for a directive
Recital 63 a (new)
Recital 63 a (new)
(63a) This Directive should provide a framework for the group resolution authorities and the other relevant resolution authorities to develop a group approach to resolution. Failing a coherent group approach to resolution, nationalisation of banking groups by legal entity that may be imposed by resolution authorities would put the integrity of internal market at risk, and may incentivise Member States to bail out banking groups and legal entities.
Amendment 308 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Each Member States shall designate one or more resolution authoritiesy that areis empowered to apply the resolution tools and exercise the resolution powers.
Amendment 336 #
Proposal for a directive
Article 3 – paragraph 7
Article 3 – paragraph 7
Amendment 384 #
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States shall ensure that each institution that is not part of a group subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC draws up and maintains a recovery plan providing, through measures taken by the management of the institution or by a group entity, for the restoration of its financial situation following significant deterioration. Recovery plans shall be considered as a governance arrangement within the meaning of Article 22 of Directive 2006/48/EC.
Amendment 434 #
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where competent authorities assess that there are deficiencies in the recovery plan, or potentmaterial impediments to its implementation, they shall notify the institution of their assessment and require the institution to submit, within three months, a revised plan demonstrating how those deficiencies or impediments have been addressed.
Amendment 455 #
Proposal for a directive
Article 6 – paragraph 5 a (new)
Article 6 – paragraph 5 a (new)
5a. Member States shall ensure that institutions that are affected by the taking of measures by a competent authority under paragraph (4) above have adequate rights of appeal and review, including judicial review, concerning such decisions.
Amendment 456 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Member States shall ensure that parent undertakings or institutions that are subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC draw up and submit to the consolidating supervisor a group recovery plan that includes a recovery plan for the whole group, including for the companies referred to in points (c) and (d) of Article 1, as well as a recovery plan for each institution that is part of the group.
Amendment 468 #
Proposal for a directive
Article 7 – paragraph 2
Article 7 – paragraph 2
2. The consolidating supervisor shall transmit, within the framework of college of supervisors, share with the supervisory authorities that are members of the college, any information relating to the group recovery plans. It shall transmit any relevant part of the group recovery plans to the relevant competent authorities referred to in Article 131a of Directive 2006/48/EC and to EBA.
Amendment 479 #
Proposal for a directive
Article 7 – paragraph 4
Article 7 – paragraph 4
4. The group recovery plan shall include for the whole group and for each of its entities the elements and arrangements provided in Article 5. It shall also include, where applicable, arrangements for possible intra-group financial support adopted in accordance with any agreement for group financial support that has been concluded in accordance with Article 16.
Amendment 487 #
Proposal for a directive
Article 7 – paragraph 6
Article 7 – paragraph 6
6. The management body of the parent undertaking or institution subject to consolidated supervision referred to in paragraph 1 and the management body of institutions that are part of the group shall approve the group recovery plan before submitting it to the consolidating supervisor.
Amendment 561 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that resolution authorities draw up group resolution plans. Group resolution plans shall include both a plan for resolution at the level of the parent undertaking or institution subject to consolidated supervision pursuant to Article 125 and 126 of Directive 2006/48/EC and the resolution plans for the individual subsidiary institutions drawn up in accordance with Article 9 of this Directive. The group resolution plans shall also includbe plans for the resolution of the companies referred to in points (c) and (d) of Article 1 and plans for the resolution of institutions with branches in other Member States in compliance with the provisions of Directive 2001/24/EC.
Amendment 570 #
Proposal for a directive
Article 11 – paragraph 3 – point a
Article 11 – paragraph 3 – point a
(a) set out the resolution actions to be taken with regards to the group as a whole or part of the group, including individual subsidiaries, both through resolution actions in respect to the companies referred to in Article 1(dc), the parent undertaking and subsidiary institutions and through coordinated resolution actions in respect of subsidiary institutions, in those scenarios provided for in Article 9(2);
Amendment 683 #
Proposal for a directive
Article 14 – paragraph 7 a (new)
Article 14 – paragraph 7 a (new)
7a. Member States shall ensure that institutions that are affected by the taking of measures by a resolution authority under this article have adequate rights of appeal and review, including judicial review, concerning such decision
Amendment 721 #
Proposal for a directive
Article 15 – paragraph 6 – subparagraph 3
Article 15 – paragraph 6 – subparagraph 3
The decision referred to in the first subparagraph shall be recognised as conclusive and applied by the competent authorities in the Member States concerned. Member states shall ensure that institutions that are affected by the taking of measures by a resolution authority under this article have adequate rights of appeal and review, including judicial review, concerning such decision.
Amendment 743 #
Proposal for a directive
Article 16 – paragraph 6 a (new)
Article 16 – paragraph 6 a (new)
6a. The conditions in this Article are without prejudice to, and shall not affect, the entry into and the maintenance of intra-group agreements in the normal course of business where such agreements are lawful under the national law of a Member State.
Amendment 764 #
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Member States mayshall require that any proposed agreement that has been authorised by the competent authorities be submitted for approval to the shareholders meeting of every group entity that proposes to enter into the agreement. In this case, the agreement shall be valid only in respect of those parties whose shareholders' meeting has approved the agreement.
Amendment 798 #
Proposal for a directive
Article 22 – paragraph 3 – subparagraph 1
Article 22 – paragraph 3 – subparagraph 1
Amendment 801 #
Proposal for a directive
Article 22 – paragraph 3 – subparagraph 2
Article 22 – paragraph 3 – subparagraph 2
Amendment 802 #
Proposal for a directive
Article 22 – paragraph 4
Article 22 – paragraph 4
Amendment 803 #
Proposal for a directive
Article 22 – paragraph 5
Article 22 – paragraph 5
Amendment 848 #
Proposal for a directive
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Where there is a significant or foreseeable imminent significant deterioration in the financial situation of an institution or where there are serious violations of law, regulations or bylaws or serious administrative irregularities, and other measures taken in accordance withor where the management of the institution can no longer be carried out in normal conditions, and other measures laid down in Article 23 are judged not sufficient to reverse that deterioration, Member States shall ensure that competent authorities may appoint a special manager to replace the management of the institution. Competent authorities shall make public the appointment of a special manager. Member States shall further ensure that the special manager has the qualifications, ability and knowledge required to carry out his or her functions.
Amendment 1040 #
Proposal for a directive
Article 35 – paragraph 1 – point c – subparagraph 1a (new)
Article 35 – paragraph 1 – point c – subparagraph 1a (new)
Nevertheless, for a short period of time, a bridge institution could be created and authorized without complying with the minimum capital requirements provisions of Directive 2006/48/EC or Directive 2004/39/EC when this is necessary to best meet the resolution objectives.
Amendment 1078 #
Proposal for a directive
Article 38 – paragraph 2 – subparagraph 1 – point a
Article 38 – paragraph 2 – subparagraph 1 – point a
(a) deposits that are guaranteed in accordance with Directive 94/19/EC;hold by individuals including for professional purpose (aa) deposits hold by small enterprises The EBA shall draft regulatory standards to specify the conditions under which deposits of small enterprises should be not be subject to paragraph 2. Power is delegated to the Commission to adopt the regulatory standards in accordance with the procedure laid down in Article 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 1149 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. Member States shall ensure that the institutions maintain, at all times, a sufficient aggregate amount of own funds and eligible liabilities expressed as a percentage of the total liabilities of the institution that do not qualify as own funds under Section 1 of Chapter 2 of Title V of Directive 2006/48/EC or under Chapter IV of Directive 2006/49/EC.
Amendment 1348 #
Proposal for a directive
Article 76 – paragraph 1 – point a
Article 76 – paragraph 1 – point a
(a) resolution authorities;. Only a very limited number of executives within authorities should have access to plans.
Amendment 1349 #
Proposal for a directive
Article 76 – paragraph 1 – point c
Article 76 – paragraph 1 – point c
(c) competent ministries; Infringement of confidentiality requirement should be subject to appeal before the court and indemnification;
Amendment 1355 #
Proposal for a directive
Article 76 – paragraph 2
Article 76 – paragraph 2
2. Without prejudice to the generality of the requirements under paragraph 1, the persons referred to in that paragraph shall be prohibited from divulging confidential information received during the course of their professional activities, or from a resolution authority in connection with its functions, to any person or authority unless it is in summary or collective form such that individual institutions cannot be identified or with the express and prior consent of the resolution authority. The resolution authority shall be the single entry point for the information mentioned in the first subparagraph and shall be bound by a strict confidentiality agreement. The resolution authority shall then be responsible for ensuring that confidentiality requirements are respected.
Amendment 1366 #
Proposal for a directive
Article 80 – paragraph 2 – subparagraph 1
Article 80 – paragraph 2 – subparagraph 1
The group level resolution authority, the resolution authorities of each Member State in which a subsidiary that is in the view of the home authority material for resolution purposes covered by consolidated supervision is established and EBA shall be members of the resolution college.
Amendment 1373 #
Proposal for a directive
Article 80 – paragraph 8
Article 80 – paragraph 8
8. Group level resolution authorities may not establish resolution colleges if other groups or colleges perform the same functions and carry out the same tasks specified in this Article and comply with all the conditions and procedures established in this Section. In this case all references to resolution colleges in this Directive shall also be understood as reference to those other groups or colleges. Where a Crisis Management Group for an institution has been established in line with the recommendations of the FSB, that Crisis Management Group shall be considered to be the Resolution College for that institution.
Amendment 1444 #
Proposal for a directive
Article 92 – paragraph 1 – subparagraph 1 – point e a (new)
Article 92 – paragraph 1 – subparagraph 1 – point e a (new)
(e a) (f) to recapitalize the institution.