26 Amendments of Wolf KLINZ related to 2011/0202(COD)
Amendment 169 #
Proposal for a regulation
Recital 35
Recital 35
(35) While it is desirable to base the calculation of the exposure value on that provided for the purposes of own funds requirements, it is appropriate to adopt rules for the monitoring of large exposures without applying risk weightings or degrees of risk. Moreover, the credit risk mitigation techniques applied in the solvency regime were designed with the assumption of a well-diversified credit risk. In the case of large exposures dealing with single name concentration risk, including sovereign risks, credit risk is not well- diversified. The effects of those techniques should therefore be subject to prudential safeguards. In this context, it is necessary to provide for an effective recovery of credit protection for the purposes of large exposures.
Amendment 196 #
Proposal for a regulation
Recital 75
Recital 75
(75) The stock of liquid assets should be available at any time to meet the liquidity outflows. The level of liquidity needs in a short term liquidity stress should be determined in a standardised manner so as to ensure a uniform soundness standard and a level playing field. It should be ensured that such a standardised determination has no unintended consequences for financial markets, credit extension and economic growth, also taking into account different business and investment models and funding environments of credit institutions and investment firms across the Union. To this end, the liquidity coverage requirement should be subject to an observation period. Based on the observations and supported by EBA, the Commission should confirm or adjust the liquidity coverage requirement by means of a delegated act.
Amendment 203 #
Proposal for a regulation
Recital 76
Recital 76
(76) The failure of credit institutions to fund their assets with the appropriate amount of stable funding has caused damage to the real economy throughout the crisis. Ensuring banks have more sustainable stable sources of funding is a key step in ensuring financial stability. Apart from short-term liquidity needs, credit institutions and investment firms should therefore also adopt funding structures that are stable at a longer term horizon. In December 2010, the BCBS agreed that the NSFR will move to a minimum standard by 1 January 2018 and that the BCBS will put in place rigorous reporting processes to monitor the ratio during a transition period and will continue to review the implications of these standards for financial markets, credit extension and economic growth, addressing unintended consequences as necessary. The BCBS thus agreed that the NSFR will be subject to an observation period and will include a review clause. In this context, EBA should, based on reporting required by this Regulation, evaluate how a stable funding requirement should be designed. Based on this evaluation, the Commission should report to Council and European Parliament together with any appropriate legislative proposals in order to introduce such a requirement by 2018. Taking into account the ongoing work of the BCBS on the NSFR, by 2014 the EBA should produce a report on the stock of less stable funding and make proposals as to whether there should be incentives, including public disclosure, for its progressive reduction, prior to later introduction of an NSFR.
Amendment 422 #
Proposal for a regulation
Article 34 – paragraph 1 – point b a (new)
Article 34 – paragraph 1 – point b a (new)
(ba) the amount to be deducted shall be reduced by the amount of investments in software classified as intangible assets under the relevant accounting standards.
Amendment 654 #
Proposal for a regulation
Article 118 – paragraph 1 – point c a (new)
Article 118 – paragraph 1 – point c a (new)
(ca) the exposure to small or medium sized enterprises shall be assigned a risk weight of 75% multiplied by 0.7619.
Amendment 703 #
Proposal for a regulation
Article 123 – paragraph 2 – point b
Article 123 – paragraph 2 – point b
(b) alternative investment funds as defined by Article 4(1)(1) of Directive [inserted by OP - Directive on Alternative Investment Fund Managers] unless the institution applies the credit risk assessment method under Article 127 (2), or the look-through approach in Article 127 (4) or the average risk weight approach under Article (5) when the conditions in Article 127 (3) are met;
Amendment 751 #
Proposal for a regulation
Article 160 – paragraph 4
Article 160 – paragraph 4
Amendment 759 #
Proposal for a regulation
Article 174 – paragraph 1 – subparagraph 1 – point b
Article 174 – paragraph 1 – subparagraph 1 – point b
(b) the obligor is past due more than 90 days on any material credit obligation to the institution, the parent undertaking or any of its subsidiaries. In the case of retail exposures fully secured by mortgages on residential property, the institution shall set a number of days past due of up to 180 days.
Amendment 863 #
Proposal for a regulation
Article 379 – paragraph 7
Article 379 – paragraph 7
7. In order to determine the existence of a group of connected clients, in respect of exposures referred to in points (l) and (n) of 107 where there is an exposure to underlying assets, and in respect of exposures referred to in point (p) of Article 107 where there is a scheme and an exposure to underlying assets, an institution shall assess the scheme, its underlying exposures, or both. For that purpose, an institution shall evaluate the economic substance and the risks inherent in the structure of the transaction. If an institution with claims in the form of units or shares in collective investment undertakings ('CIUs') assesses the underlying exposures of the CIU, the exposure of the institution does not include claims in the form of CIUs.
Amendment 868 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point a
Article 389 – paragraph 1 – subparagraph 1 – point a
(a) asset items constituting claims on central governments or central banks which, unsecured, would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 873 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point c
Article 389 – paragraph 1 – subparagraph 1 – point c
(c) asset items constituting claims carrying the explicit guarantees of central governments, central banks, international organisations, multilateral development banks or public sector entities, where unsecured claims on the entity providing the guarantee would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 876 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point d
Article 389 – paragraph 1 – subparagraph 1 – point d
(d) other exposures attributable to, or guaranteed by, central governments, central banks, international organisations, multilateral development banks or public sector entities, where unsecured claims on the entity to which the exposure is attributable or by which it is guaranteed would be assigned a 0 % risk weight under Part Three, Title II, Chapter 2;
Amendment 880 #
Proposal for a regulation
Article 389 – paragraph 1 – subparagraph 1 – point k a (new)
Article 389 – paragraph 1 – subparagraph 1 – point k a (new)
(ka) Asset items constituting claims on, or carrying the explicit guarantees of central governments or public sector entities with an assignment of a 0 % risk weight under Part Three, Title II, Chapter 2 and other exposures attributable to, or guaranteed by central governments or public sector entities with an assignment of a 0 % risk weight under Part Three, Title II, Chapter 2 that are issued on, or before 31.12.2015, shall be exempted from the application of Article 384 (1).
Amendment 1014 #
Proposal for a regulation
Article 404 – paragraph 2 – point a – point iii a (new)
Article 404 – paragraph 2 – point a – point iii a (new)
(iii a) they are issued by the institution itself or its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company;
Amendment 1019 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1
Article 404 – paragraph 3 – subparagraph 1
Institutions shall only report as liquid assets that fulfil eachthree of the following conditions:
Amendment 1026 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point a
Article 404 – paragraph 3 – subparagraph 1 – point a
Amendment 1068 #
Proposal for a regulation
Article 404 – paragraph 5
Article 404 – paragraph 5
5. Shares or units in CIUs may be treated as liquid assets up to an absolute amount of 250 million EUR provided that the requirements in Article 127(3) are met and that the CIU, apart from derivatives to mitigate interest rate or credit riskrisks of permitted investments, only invests in liquid assets.
Amendment 1098 #
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point a
Article 406 – paragraph 2 – subparagraph 1 – point a
(a) 0% for the assets in point (a), (b) and (c) of Article 404(1) ;
Amendment 1099 #
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point b
Article 406 – paragraph 2 – subparagraph 1 – point b
Amendment 1101 #
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point c
Article 406 – paragraph 2 – subparagraph 1 – point c
(c) 2015% for the assets in point (d) of Article 404(1).
Amendment 1129 #
Proposal for a regulation
Article 410 – paragraph 3 a (new)
Article 410 – paragraph 3 a (new)
3a. Institutions shall multiply liabilities resulting from positions in equity instruments by a percentage to be defined by the EBA and ESMA to reflect the risk inherent in those positions. This should take into account where appropriate an assessment of the holding period.
Amendment 1217 #
Proposal for a regulation
Article 413 – paragraph 2 – point c a (new)
Article 413 – paragraph 2 – point c a (new)
(c a) monies due from positions in major index equity instruments shall be reduced by a percentage to be defined by the EBA and ESMA to reflect the risk inherent in those positions. This should take into account where appropriate an assessment of the holding period of the asset.
Amendment 1235 #
Proposal for a regulation
Article 413 – paragraph 7 a (new)
Article 413 – paragraph 7 a (new)
7 a. Competent authorities may grant the permission to apply a higher inflow on a case by case basis for credit and liquidity facilities when the provider has drawn up a cash flow statement according to [inserted by OP - Accounting Directive].
Amendment 1283 #
Proposal for a regulation
Article 416 – paragraph 6 – subparagraph 2
Article 416 – paragraph 6 – subparagraph 2
In determining the exposure value of items listed in Annex II and of credit derivatives, institutions shall take into account the effects of contracts for novation and other netting agreements, except contractual cross-product netting agreements, in accordance with Article 289calculate the exposure value on the basis of IFRS accounting standards.
Amendment 1293 #
Proposal for a regulation
Article 416 a (new)
Article 416 a (new)
Article 416 a The provisions of this Chapter shall not apply to investment firms referred to in Articles 90 (1) and 91 (1).
Amendment 1527 #
Proposal for a regulation
Article 481 – paragraph 2 – introductory part
Article 481 – paragraph 2 – introductory part
2. EBA and ESMA shall, by 31 December 2013, report to the Commission on appropriate uniform definitions of high and of extremely high liquidity and credit quality of transferable assets for purposes of Article 404. EB, taking into account all relevant factors such as the applicable legal framework, incentive structures, available market initiatives and tools designed to enhance transparency and liquidity of assets. In particular it shall be assessed if covered bonds, retail mortgage backed securities and major index equity instruments can be considered eligible assets under Art. 404 (3), their volatility compared to other assets and which haircuts can be applied. EBA and ESMA shall in particular test the adequacy of the following criteria and the appropriate levels for such definitions: