34 Amendments of Ivo STREJČEK related to 2012/0244(COD)
Amendment 82 #
Proposal for a regulation
Recital 2
Recital 2
(2) The provision for a single Euro area supervisory mechanism (SEASM) is the first step towards the creation of a European banking union, underpinned by a true single rulebook for financial services and composed also of a common deposit insurance and resolution framework for the Euro area.
Amendment 86 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2 a) The banking union should be underpinned by proper checks and balances and accountability mechanisms between political institutions at EU and national level and those bodies exercising supervisory responsibilities at both EU and national level.
Amendment 87 #
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2 b) The progress towards a genuine Economic and Monetary Union and, to this end the creation of the single Euro area supervisory mechanism (SEASM), should respect both the right of those Member States that have an opt-out from having to introduce the euro and the democratic legitimacy of those Member States that choose to retain their respective national currencies.
Amendment 88 #
Proposal for a regulation
Recital 2 c (new)
Recital 2 c (new)
(2 c) The implementation of the banking union should at all its different stages ensure that due consideration be given to the potential mutual spill-over effects of the banking union in the euro area for non-euro area members. To this aim, appropriate preventive measures should be put in place to avoid possible disruption of the internal market. In particular, the ECB should be required to ensure that it performs its supervisory tasks over the Euro area in a manner that is non-discriminatory and is consistent with the proper functioning of the internal market.
Amendment 89 #
Proposal for a regulation
Recital 3
Recital 3
(3) In order to provide for the single Euro area supervisory mechanism, Council Regulation (EU) No …/….../... [127(6) Regulation] confers specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions in the Member States whose currency is the euro. O and other Member States may enter in a close cooperation with the ECB. Under that Regulation, the ECB is to coordinate and express the position of those Member States on the decisions to be taken by the Board of Supervisors of the European Banking Authority (EBA) falling within the scope ofwhose currency is not the euro, but which have voluntarily opted in the Euro area supervisory mechanism (hereafter opt-in Member States). These opt-in Member States may enter in a close cooperation with the ECB tasks.
Amendment 97 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3 a) In order to ensure fairness of the decision making and balance of voting rights within the EBA, thus preventing any possible discrimination of those Member States that have not opted in to the single Euro area supervisory mechanism, an EBA decision impacting on the Union as a whole should be deemed adopted only if a blocking minority composed of those Member States remaining outside the single Euro area supervisory mechanism does not object to it.
Amendment 100 #
Proposal for a regulation
Recital 4
Recital 4
(4) The conferral of supervisory tasks to the ECB in the banking sector for part of the Member States of the Union (Euro area Member States and opt-in Member States) should not in any way hamper the functioning of the internal market in the field of financial services. It is therefore necessary to ensure the proper functioning of the EBA following that conferral.
Amendment 116 #
Proposal for a regulation
Recital 5
Recital 5
(5) In view of the supervisory tasks conferred on the ECB by Council Regulation (EU) No …/….../... [127(6) Regulation], EBA should be able to carry out its tasks also in relation to the ECB. In order to ensure that existing mechanisms for settlement of disagreements and actions in emergency situations remain effective, a specific procedure should be provided for. In particular, if the ECB or a national competent authority does not comply with an action by EBA to settle a disagreement or to address an emergency situation, it should be required to explain its reasons and inform the EBA, the European Parliament and the Council about them for the sake of greater transparency of its decision making. In that case, whenever based on requirements set out in directly applicable Union law EBA can adopt an individual decision addressed to the financial institution concerned, it should do so.
Amendment 124 #
Proposal for a regulation
Recital 6
Recital 6
(6) In order to ensure that interests of all Member States are adequately taken into account and to allow for the proper functioning of the EBA with a view to maintain and deepen the internal market in the field of financial services, the voting modalities within the Board of Supervisors should be adapted, in particular with regard to decisions taken by the EBA at simple majority. In addition, the arrangements for the panel to be established to consider decisions under Articles 17 and 19 of Regulation (EU) No 1093/2010 should be amended. The panel should comprise members with significant levels of expertise in banking regulation, including legal expertise.
Amendment 129 #
Proposal for a regulation
Recital 7
Recital 7
(7) Decisions concerning breaches of Union law and settlement of disagreements should be examined by an independent panel composed of voting members of the Board of Supervisors which do not have any conflicts of interest, appointed by the Board of Supervisors. The decisions proposed by the panel to the Board of Supervisors should be considered as adopted unless rejected by a simple majority, which should include an adequate number of votes from members from Member States participating in the SEASM and from Member States that do not participate in the SSMEASM (non participating Member States).
Amendment 142 #
Proposal for a regulation
Recital 8
Recital 8
(8) The members of the independent panel set up according to Article 41(2) of Regulation (EU) No 1093/2010 should not be considered to be in a situation of conflict of interest on the sole ground that they are representatives of competent authorities which are part of the SEASM and a given case to be decided upon by the Panel concerns the SEASM. The EBA should develop rules of procedure for the panel that ensure its independence and objectivity.
Amendment 145 #
Proposal for a regulation
Recital 9
Recital 9
(9) The composition of the Management Board should be balanced andsufficiently diverse with regards to gender balance and guarantee proper representation of Member States not participating in the SEASM should be ensured.
Amendment 149 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) The head of the Management Board should be different from the respective heads of the European System of Financial Supervision (ESFS).
Amendment 150 #
Proposal for a regulation
Recital 10
Recital 10
(10) In order to ensure the proper functioning of the EBA and adequate representation of all Member States, the voting modalities, the composition of the Management Board, and the composition of the independent panel should be reviewed after an appropriate period of time and at the latest every three years taking into account any experience gained and further developments.
Amendment 154 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) The Authority should act with a view to improving the functioning of the internal market, in particular by ensuring an effective level of regulation and efficient supervision in the EU. The Authority should protect public values such as the stability of the financial system, the transparency of markets and financial products, and the protection of depositors and investors. The Authority should also prevent regulatory arbitrage and guarantee a level playing field, and strengthen international supervisory coordination, for the benefit of the EU economy, including financial institutions and consumers. In accordance with the fundamental principle of the equality of the Member States before the EU Treaties, the Authority should respect the differences in supervisory culture adopted by competent authorities. In this regard no Member States or group of Member States should be discriminated against, directly or indirectly, as a venue for financial services, whether by reference to their currency or otherwise. The Authority should have regard to the need for competent authorities to be able to exercise judgement effectively in order to determine the appropriate action to take in any particular circumstances. The tasks of the Authority should also include promoting supervisory convergence and providing advice to the Union institutions in the areas of banking, payments, e- money regulation and supervision, and related corporate governance, auditing and financial reporting issues.
Amendment 167 #
Proposal for a regulation
Article 1 – paragraph 1 – point -1 d (new)
Article 1 – paragraph 1 – point -1 d (new)
Regulation (EU) No 1903/2010
Article 1 – paragraph 5 – subparagraph: 4
Article 1 – paragraph 5 – subparagraph: 4
-1d. In Article 1(5), the fourth subparagraph is replaced by the following: "When carrying out its tasks, the Authority shall act independently and objectively and in the interests of the Union alone and shall: (a) respect the differences in supervisory culture adopted by competent authorities as long as they do not affect the quality of supervision; (b) have regard to the need for competent authorities to be able to exercise judgement effectively in order to determine the appropriate action to take in any particular circumstances; (c) have regard to the international character of financial services and the desirability of maintaining the competitive position of the Union."
Amendment 191 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Regulation (EU) No 1093/2010
Article 18 – paragraph 3a
Article 18 – paragraph 3a
"3a. Where the Authority requests the ECB asa competent authority to take the necessary action in accordance with paragraph 3, the ECBcompetent authority shall comply with it or shall provide within 48 hours [of the deadline for complying with the decision] at the latest adequate justification to the Authority for its non-compliance. This justification shall be made available without delay to the European Parliament, and the Council for the sake of greater transparency of the decision making."
Amendment 198 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b a (new)
Article 1 – paragraph 1 – point 2 – point b a (new)
Regulation (EU) No 1093/2010
Article 18 – paragraph 4
Article 18 – paragraph 4
(b a) paragraph 4 is replaced by the following: "4. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority referred to in paragraph 3 within the period laid down in that decision, and does not provide in the opinion of the Authority adequate justification for non-compliance, the Authority may, where the relevant requirements laid down in the legislative acts referred to in Article 1(2) including in regulatory technical standards and implementing technical standards adopted in accordance with those acts are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under that legislation, including the cessation of any practice. This shall apply only in situations in which a competent authority does not apply the legislative acts referred to in Article 1(2), including regulatory technical standards and implementing technical standards adopted in accordance with those acts, or applies them in a way which appears to be a manifest breach of those acts, and where urgent remedying is necessary to restore the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union."
Amendment 200 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 1093/2010
Article 19 – paragraph 3a
Article 19 – paragraph 3a
"3a. Where the Authority requests the ECB asa competent authority to take specific action or to refrain from action in accordance with paragraph 3, the ECBcompetent authority shall comply with it or shall within ten working days of the receipt of the request provide adequate justification to the Authority for its non-compliance. This justification should be made available without delay to the European Parliament and the Council for the sake of greater transparency of the decision making."
Amendment 203 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 1093/2010
Article 19 – paragraph 4
Article 19 – paragraph 4
3a. In Article 19 paragraph 4 is replaced with the following: "4. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and does not provide in the opinion of the Authority adequate justification for non-compliance, and thereby fails to ensure that a financial institution complies with requirements directly applicable to it by virtue of the acts referred to in Article 1(2), the Authority may adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under Union law, including the cessation of any practice."
Amendment 215 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 b (new)
Article 1 – paragraph 1 – point 4 b (new)
Regulation (EU) No 1093/2010
Article 41 – paragraph 1 a (new)
Article 41 – paragraph 1 a (new)
4 b. In Article 41 the following paragraph is inserted after paragraph 1: "1a. For the purposes of Article 17, the Board of Supervisors shall convoke an independent panel, consisting of the Chairperson and six other members, who are not representatives of the competent authority alleged to have breached Union law and who have neither any interest in the matter nor direct links to the competent authority concerned. Each member of the panel shall have one vote. Decisions of the panel shall be taken where at least 5 members of the panel vote in favour of the decision."
Amendment 216 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 – paragraph 2
Article 41 – paragraph 2
"2. For the purposes of Article 17 and 19, the Board of Supervisors shall establishconvoke an independent panel consisting of the Chairperson and two members appointed by the Board of Supervisors among its voting members. At least one member of the independent panel shall be from a Member State which is not a participating Member State in accordance with Regulation (EU) No …/… [127(6) TFEU Council Regulation]. The members of the panel shall act independto facilitate an impartial settlement of the disagreement, consisting of the Chairperson and six other of its members, who are not representatives of the competent authorities which are party to the disagreemently and objectively in accordance with Article 42, shall not be representatives of the competent authority concerned or of the competent authorities which are party to the disagreementwho have neither any interest in the conflict nor direct links to the competent authorities concerned."
Amendment 225 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 – paragraph 3
Article 41 – paragraph 3
"3. The panel shall propose a decision under Article 17 or Article 19 for final adoption by the Board of Supervisors, in accordance with the procedure set out in the third subparagraph of Article 44(1). The decision of the panel shall be considered as adopted by the Board of Supervisors unless rejected by a simple majority of the members. The representative of the competent authority or competent authorities concerned, and any representatives of competent authorities with any interest in the matter, shall not participate in a vote of the Board of Supervisors concerning a proposal of the panel."
Amendment 227 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 – paragraph 4
Article 41 – paragraph 4
"4. The Board of Supervisors shall adopt rules of procedures for the panel referred to in paragraph 2, including rules implementing the requirement set out in the second subparagraph of that paragraphs 2 and 3."
Amendment 237 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 2
Article 44 – paragraph 1 – subparagraph 2
"With regard to the acts specified in Articles 10 to 16 and measures and decisions adopted under the third subparagraph of Article 9(5) andChapter VI and decisions taken by the Board of Supervisors under Section 2 to 4 of Chapter VIII and by way of derogation from the first subparagraph of this paragraph, the Board of Supervisors shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) of the Treaty on European Union and in Article 3 of the Protocol (No 36) on transitional provisions and with: (a) a simple majority of the total weighted votes available to participating Member States and those States that have entered into a close cooperation arrangement; and (b) a simple majority of the total weighted votes available to non-participating Member States."
Amendment 242 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 3
Article 44 – paragraph 1 – subparagraph 3
Amendment 247 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 4
Article 44 – paragraph 1 – subparagraph 4
Amendment 250 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 –paragraph 1 – subparagraph 5
Article 44 –paragraph 1 – subparagraph 5
Amendment 254 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1093/2010
Article 44 –paragraph 1 – subparagraph 6
Article 44 –paragraph 1 – subparagraph 6
Amendment 259 #
Proposal for a regulation
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Regulation (EU) No 1093/2010
Article 45 – paragraph 1 – subparagraph 3
Article 45 – paragraph 1 – subparagraph 3
"The term of office of the members elected by the Board of Supervisors shall be 2 1/2 years. That term may be extended once. The composition of the Management Board shall be balanced and proportionate and shall reflect the Union as a wholesufficiently diverse with regards to expertise, gender and geographical balance and shall reflect the Union as a whole, in particular to ensure proper representation of the interests of those Member States that do not choose to participate in the Euro area supervisory mechanism. The Management Board shall include at least twohree representatives from Member States which are not participating Member States in accordance with Regulation [127(6) TFEU Council Regulation] nor have entered into close cooperation with the ECB in accordance with that Regulation. Mandates shall be overlapping and an appropriate rotating arrangement shall apply."
Amendment 269 #
Proposal for a regulation
Article 1 – paragraph 1 – point 8 e (new)
Article 1 – paragraph 1 – point 8 e (new)
Regulation (EU) No 1093/2010
Article 81 a (new)
Article 81 a (new)
Amendment 275 #
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) the suitability of the voting modalities, especially in view of preventing discriminatory decision making against the Member States which are not participating Member States in accordance with Regulation (EU) No .../...[127(6) TFEU Council Regulation];
Amendment 276 #
Proposal for a regulation
Article 2 – paragraph 1 – point b
Article 2 – paragraph 1 – point b
(b) the composition of the Management Board and whether it is sufficiently diverse with regards to expertise, gender and has guaranteed geographical balance; and
Amendment 277 #
Proposal for a regulation
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) the composition of the independent panel preparing decisions for the purposes of Articles 17 and 19, and whether it is sufficiently diverse with regards to expertise, gender and has guaranteed geographical balance.