Activities of Wolf KLINZ related to 2010/0207(COD)
Plenary speeches (1)
Deposit guarantee schemes (debate)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council on Deposit Guarantee Schemes (recast) PDF (753 KB) DOC (1 MB)
Amendments (21)
Amendment 108 #
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) The relevant authorities shall assume the responsibility for excluding Members from Institutional protection schemes, if these have a higher risk profile compared to the others and therefore do not meet the conditions of zero weighting defined in Article 80(8) of Directive 2006/48/EC. In this case the respective institution shall become automatically a member of a DGS on a statutory basis.
Amendment 120 #
Proposal for a directive
Recital 21
Recital 21
(21) It is indispensable that the available financial means of Deposit Guarantee Schemes amount to a certain target level and that extraordinary contributions may be collected. The target level in this context shall reflect the failure of deposits over the last ten years in relation to the covered deposits within a statutory, contractual or institutional protection scheme as referred to in Article 80(8) of Directive 2006/48/EC. On this basis national authorities under scrutiny of the EBA shall have the power to adjust the concrete percentage of a target level to cover a changed risk. Where necessary, Deposit Guarantee Schemes should have adequate alternative funding arrangements in place to enable them to obtain short term funding to meet claims made against them.
Amendment 139 #
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
2. This Directive shall apply to all Deposit Guarantee Schemes on a statutrecognised pursuant to Article 3(1). They may take the forym orf statutory, contractual basis and to institutional protection schemes recognized as Deposit Guarantee Schemeor institutional protection schemes as referred to in Article 80(8) of Directive 2006/48/EC, whereby the relevant authorities shall have to examine, whether the laid down criteria of equal risk profiles by the members of an institutional protection scheme with regard to the zero weighting defined in Article 80(8) of Directive 2006/48/EC are still met. In case of notable discrepancies, the respective institution shall be instructed by the relevant authorities to become a member of a DGS on a statutory basis.
Amendment 143 #
Proposal for a directive
Article 2 – paragraph 1 – point a – introductory part
Article 2 – paragraph 1 – point a – introductory part
(a) ‘deposit’ means any credit balance which results from funds left in an account or from temporary situations deriving from normal banking transactions including fixed term deposits, savings deposits and registered deposits and which a credit institution must repay under the legal and contractual conditions applicable.
Amendment 157 #
Proposal for a directive
Article 3 – paragraph 3
Article 3 – paragraph 3
3. If those measures fail to secure compliance on the part of the credit institution, the scheme may, where national law permits the exclusion of a member, with the express consent of the competent authorities, give not less than 1 month's notice of its intention of excluding the credit institution from membership of the scheme. Deposits made before the expiry of the notice period shall continue to be fully covered by the scheme. If, on the expiry of the notice period, the credit institution has not complied with its obligations, the guarantee scheme shall proceed tonational supervision shall revoke the banking license leading automatically to an exclusion from DGS.
Amendment 162 #
Proposal for a directive
Article 3 – paragraph 6 – subparagraph 3
Article 3 – paragraph 6 – subparagraph 3
The European Banking Authority shall periodically conduct peer reviews pursuant to Article 15 of the [EBA regulation] in this regard. Deposit Guarantee Schemes shall be bound to professional secrecy referred to in Article 56 of that Regulation when exchanging information with the European Banking Authority. Additionally the European Banking Authority shall have the power to examine the stress resistance of Deposit Guarantee Schemes annually via different scenarios of predefined breaking points on the basis of updated figures to sort out if an adjustment of the current calculation model and the target level might be appropriate. In this context the stress resistance test shall be based on the following scenarios: a) a low-impact scenario b) a medium-impact scenario c) high-impact scenario
Amendment 166 #
Proposal for a directive
Article 3 – paragraph 7 a (new)
Article 3 – paragraph 7 a (new)
7a. Member States shall also ensure that there is a legal protection for the deposit scheme and its employees from litigation arising out of their decisions and actions taken in good faith.
Amendment 169 #
Proposal for a directive
Article 4 – paragraph 1 – point g
Article 4 – paragraph 1 – point g
(g) deposits by insurance undertakings,- deleted -
Amendment 170 #
Proposal for a directive
Article 4 – paragraph 1 – point h
Article 4 – paragraph 1 – point h
(h) deposits by collective investment undertakings,- deleted -
Amendment 171 #
Proposal for a directive
Article 4 – paragraph 1 – point i
Article 4 – paragraph 1 – point i
(i) deposits by pension and retirement funds,- deleted -
Amendment 173 #
Proposal for a directive
Article 4 – paragraph 1 – point j
Article 4 – paragraph 1 – point j
(j) deposits by authorities,- deleted -
Amendment 206 #
Proposal for a directive
Article 7 – paragraph 4 a (new)
Article 7 – paragraph 4 a (new)
4a. Deposits which are lower than the administrative costs occurring through a settlement of re-payment shall not be covered.
Amendment 208 #
Proposal for a directive
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Without prejudice to any other rights which they may have under national law and subject to paragraph 3 , schemes which make payments under guarantee within a national framework shall have the right of subrogation to the rights of depositors in liquidation proceedings for an amount equal to their payments. Rights subject to the right of subrogation referred to in this paragraph, shall have the first rank after the right of depositor referred to in paragraph 1 and before all other rights against the liquidator.
Amendment 236 #
Proposal for a directive
Article 9 – paragraph 4 – subparagraph 2
Article 9 – paragraph 4 – subparagraph 2
The competent authorities may entirely or partially exempt a credit institution from the obligation referred to in paragraph 2 if the sum of payments referred to in paragraphs 1 and 2 would jeopardize the settlement of claims of other creditors against it. Such exemption shall not be granted for a longer period than 6 months but may be renewed on request of the credit institution. The concerned sum shall be contributed at a later point in time, when the payment does not jeopardize anymore the settlement of claims of other creditors.
Amendment 261 #
Proposal for a directive
Article 9 – paragraph 7 a (new)
Article 9 – paragraph 7 a (new)
7a. A Deposit Guarantee Scheme has to meet specific government rules and is supervised by a special board which is composed of high representatives of the scheme, its members and of the relevant authorities who work out and decide on transparent "investment guidelines" for the financial means. These guidelines shall take into account principles like matching duration, quality, diversification and correlation of the investments.
Amendment 280 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. The determination of the degree of risk incurred and the calculation of contributions shall be based on the elements referred to in Annex I and II, whereby the European Banking Authority (EBA) shall review on a regular base whether the criteria for the risk based contributions which are set out in Annex I and II are adequate to reflect the true coverage of at least a medium-sized failure of an institution. In case of obvious discrepancies the EBA shall have the power to demand national authorities within the Member States to instruct its relevant schemes for necessary adjustments.
Amendment 282 #
Proposal for a directive
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
2a. The European Banking Authority (EBA) should strive for full comparability in adjusting the ratios, whereby basic assumptions should be clearly defined and distortive elements should be avoided. In this context all calculations in the Member States should be based on pre-tax calculation, thus avoiding tax arbitrage.
Amendment 295 #
Proposal for a directive
Article 12 – paragraph 2 – subparagraph 1
Article 12 – paragraph 2 – subparagraph 1
Depositors at branches set up by credit institutions in other Member States or in Member States where a credit institution authorised in another Member State operates shall be repaid by the scheme of the host Member State on behalf of the scheme in the home Member State. The home scheme shall transfer the required amount of money fur reimbursement to the host scheme.
Amendment 297 #
Proposal for a directive
Article 12 – paragraph 3
Article 12 – paragraph 3
3. If a credit institution ceases to be member of a scheme and joins another scheme, the contributions paid during the 6 months preceding the withdrawal of membership shall be reimbursed or transferred to the otherfirst scheme shall transfer the share of the available financial means assigned to the credit institution to the other scheme given that this does not risk the stability of the first scheme. This shall not apply if a credit institution has been excluded from a scheme pursuant to Article 3(3).
Amendment 307 #
Proposal for a directive
Article 14 – paragraph 7 a (new)
Article 14 – paragraph 7 a (new)
7a. Member States have to ensure that appropriate procedures are in place to enable deposit insurer to share information and communicate effectively with other participants in the financial safety net both within their own jurisdiction and with other agencies on a cross-border basis where appropriate.
Amendment 319 #
Proposal for a directive
Annex 3 – paragraph 9
Annex 3 – paragraph 9
[Only where applicable:] Your deposit is guaranteed also by an Institutional Guarantee Scheme [recognized/not recognized] as a Deposit Guarantee Scheme. This means that all bankinstitutions that are members of this scheme mutually support each other in order to avoid a bank failure. However, if a bank failure would nevertheless occur, your deposits within the framework of DGS recognized under national law will be repaid up to EUR 100 000.