8 Amendments of Bilyana Ilieva RAEVA related to 2008/0190(COD)
Amendment 31 #
Proposal for a directive – amending act
Article 2 – point 2
Article 2 – point 2
2. 'electronic money' means a monetary value as represented by a claim on the issuer which is stored electronically and issued on receipt of funds, for the purpose of making payment transactions as defined in Article 4(5) of Directive 2007/64/ECtransferring funds by electronic means from the electronic money holder to its payees, and is accepted by natural or legal persons other than the issuer;
Amendment 36 #
Proposal for a directive – amending act
Article 5 – point 2
Article 5 – point 2
2. The contract between the issuer and the holder shall clearly state the conditions of redemptionstate, in a clear and accessible way, the conditions of redemption, including timing and the financial implications thereof.
Amendment 41 #
Proposal for a directive – amending act
Article 6
Article 6
1. Member States shall require electronic money institutions to hold, at the time of authorisation, initial capital, comprised of the items defined in Article 57(a) and (b) of Directive 2006/48/EC, of not less than EUR 125200 000. Their own funds shall not fall below that amount.
Amendment 43 #
Proposal for a directive – amending act
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Method D: wthere own funds of electronic money represents the highest amount between outstanding electronic money and payment volume, the own funds ofinstitutions shall amount at least to 1,5 % of the outstanding electronic money. Where electronic money institutions shall amcarry ount at least to the sum of the following elements: (a) 5% of the slice of electronic money up to EUR 5 million; (b) 2.5%ny of the activities referred to in Article 8(1)(a) to (e) and the amount of outstanding electronic money is unknown in advance, the competent authorities shall allow those institutions to apply this paragraph ofn the slice of electronic money above EUR 5 million up to EUR 10 million; (c) 2% of the slice of electronic money above EUR 10 million up to EUR 100 million; (d) 1.5% of the slice of electronic money above EUR 100 million up to EUR 250 million; (e) 1% of the slice of electronic money above EUR 250 millionbasis of a representative portion assumed to be used for payment services, provided such a representative portion can be reasonably estimated on the basis of historical data and to the satisfaction of the competent authorities Where electronic money institutions carry out any of the activities referred to in Article 8(1)(a) to (e), own funds may also be calculated in accordance with one of the three methods (A, B or C) set out in Article 8 of Directive 2007/64/EC.
Amendment 44 #
Proposal for a directive – amending act
Article 7 – paragraph 4
Article 7 – paragraph 4
4. On the basis of an evaluation of the risk- management processolicies, of the risk loss data bases and internal control mechanisms of the electronic money institutionelectronic money institution and the risk posed by its products, systems, and market, the competent authorities may require the electronic money institution to hold an amount of own funds which is up to 20% higher than the amount which would result from the application of the method chosen in accordance with paragraph 2, or permit the electronic money institution to hold an amount of own funds which is up to 20% lower than the amount which would result from the application of the method chosen in accordance with paragraph 2.
Amendment 46 #
Proposal for a directive – amending act
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. Apart from issuing electronic money, electronic money institutions shall be entitled to engage in any of the following activities, subject to compliance by the electronic money issuer with Article 3 of this Directive:
Amendment 60 #
Proposal for a directive – amending act
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Member States or their competent authorities shall require an electronic money institution which carries on any of the activities referred to in: (i) Article 8(1)(a) to (d) and, at the same time, is engaged in other business activities referred to in Article 8(1)(e) to safeguard funds that have been received from the payment service users or through another payment service provider for the execution of payment transactions, in accordance with the provisions of Article 9(1),(2) and (4 and (2) of Directive 2007/64/EC. (ii) Article 8(1)(a) to (d) only, to safeguard all funds that have been received in relation to electronic money issuance, in accordance with the provisions of Article 9(1)(a) and (c), Article 9(2) of Directive 2007/64/EC., mutatis mutandis;
Amendment 64 #
Proposal for a directive – amending act
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
2a. For the purposes of paragraph 1, requirements for safeguarding provided under Article 9 of Directive 2007/64/EC shall be interpreted to include credit and debit card receivables, as allowable investments.