13 Amendments of Sharon BOWLES related to 2010/2006(INI)
Amendment 20 #
Motion for a resolution
Recital J
Recital J
J. whereas moral hazard must be avoided to prevent excessive risk taking, and a framework that protects the system, not the “delinquent”, is called for; in this context those institutions which make use of an EU resolution fund should face consequences such as administrative and reparation measures,
Amendment 32 #
Motion for a resolution
Recital N
Recital N
N. whereas a limited number of banks (“Systemic Banks”) represent an extremely high level of systemic risk due to their size, investment strategies, complexity and interconnectedness across Europe, calling for an urgent and targeted special regime; more generally equitable resolution regimes are required for other cross- border financial institutions,
Amendment 47 #
Motion for a resolution
Recital P
Recital P
P. whereas the fast-track special framework for Systemic Banks should evolve in the medium/long term towards a universal regime covering all banks in the Unioncross-border financial institutions in the Union and this should include a harmonised EU insolvency regime.
Amendment 91 #
Motion for a resolution
Annex – recommendation 1 – paragraph 5
Annex – recommendation 1 – paragraph 5
5. Resolution plans to become a mandatory regulatory requirement and to include details of a fair distribution of assets and capital, with appropriate clawback of transfers from subsidiaries and branches to other units, and identification of cleavage planes that allow separation of stand alone modules, especially those providing vital infrastructure such as payment services.
Amendment 94 #
Motion for a resolution
Annex – recommendation 1 – paragraph 6 – introductory part
Annex – recommendation 1 – paragraph 6 – introductory part
6. Design, before December 2011, an European supervisory rating for banks based on a common set of quantitative and qualitative indicators ("Risk Dashboard") comprisingbut which should be evaluated according to the nature, scale and complexity of the institution in question. This should comprise at least:
Amendment 104 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 3 a (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 3 a (new)
• allow supervisors to trigger separation of stand-alone modules, both failing and successful, from the institution to ensure core functions can continue to operate;
Amendment 112 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 6
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 6
• require swaps of debt into equity, or other convertible capital depending on the nature of the institution, with appropriate haircuts;
Amendment 136 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 2 – indent 2 a (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 2 – indent 2 a (new)
• administrative and reparation measures for those institutions using the fund.
Amendment 140 #
Motion for a resolution
Annex – recommendation 2 – title
Annex – recommendation 2 – title
Recommendation 2 on Systemic and Cross-Border Banks
Amendment 154 #
Motion for a resolution
Annex – recommendation 2 – paragraph 1
Annex – recommendation 2 – paragraph 1
1. Systemic Banks, due to their special risk profile, require to be urgently addressed by a new special regime to be known as the European Bank Company Law to be designed untilby the end of 2011. A more general regime for cross-border banks shall also be proposed.
Amendment 156 #
Motion for a resolution
Annex – recommendation 2 – paragraph 2
Annex – recommendation 2 – paragraph 2
2. Systemic Band cross-border banks shall adhere to the new special regime which shall overcome legal impediments to effective action across borders while ensuring clear and predictable treatment of shareholders, depositors, creditors and other stakeholders. This shall include a special '28th' regime in insolvency procedure for systemic and cross-border banks.
Amendment 189 #
Motion for a resolution
Annex – recommendation 2 – paragraph 5 a (new)
Annex – recommendation 2 – paragraph 5 a (new)
5a. The Commission shall adopt a measure proposing a system of asset transfers within systemic and cross-border banks taking due regard of the need to protect the rights of host countries.
Amendment 233 #
Motion for a resolution
Annex – recommendation 3 – paragraph 3 – indent 4 a (new)
Annex – recommendation 3 – paragraph 3 – indent 4 a (new)
• administrative measures or reparations for those Systemic Banks which make use of the EU Financial Stability Fund.