17 Amendments of Udo BULLMANN related to 2015/0009(COD)
Amendment 380 #
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) An EU guarantee can unleash investments at national and regional level in case granted to a promotional bank or an investment platform and if structured where possible aiming at capital relief.
Amendment 582 #
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1 a. Article 1a Definitions For the purposes of this Regulation, the following definitions apply: a)´EFSI Agreement´ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI; b) ´national promotional banks or institutions´ means legal entities carrying out a financial activity on a professional basis and upon which are conferred a public mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities; c) ´investment platforms´ means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means by which investors channel a financial contribution in order to finance a number of investment projects and which may include national platforms that regroup several investment projects on the territory of a given Member State, multi- country or regional platforms that regroup several Member States interested in large projects in a given geographic area, or thematic platforms, which could gather investment projects in a given sector; d) 'small and medium-sized enterprises (SMEs)' means micro, small and medium- sized enterprises as defined in Commission Recommendation 2003/361/EC; e) ´mid-cap companies´ means legal entities having up to 3000 employees and that are not SMEs; f) to the purpose of this regulation 'additionality' means the support by the EFSI of operations which address market failures or investment gaps and which could not have been carried out in that period under normal EIB instruments including special operations without EFSI support or to the same extent during that period under EIF and EU instruments. The projects supported by the EFSI, while striving to create jobs and growth, shall typically have a higher risk profile than projects supported by normal EIB operations.
Amendment 660 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) detailed arrangements for ensuring that eligible financing and investment operations signed by the EIB during the transitional period laid down in Article 20 benefit from the EU guarantee;
Amendment 690 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 4 a (new)
Article 2 – paragraph 1 – subparagraph 4 a (new)
The EFSI Agreement shall provide that the EIB shall also use the EU guarantee by granting a guarantee to national promotional banks or institutions, investment platforms or funds, provided compliance with this Regulation is ensured and the approval of the Investment Committee is given.
Amendment 809 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 a (new)
Article 3 – paragraph 3 – subparagraph 3 a (new)
The priorities to be pursued by the Commission for the investment guidelines of the EFSI should mirror the Union objectives and be in line with Article 5(2)a of this Regulation. They shall be specified before the EFSI Agreement enters into force and revised if appropriate. The priorities shall be made public. The Commission shall be empowered to adopt delegated acts in accordance with Article 17 for this purpose. When exercising its mandate within the Steering Board of the EFSI, the Commission shall promote, and vote consistently with, the priorities as specified and revised in accordance with the first subparagraph.
Amendment 899 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
The Union shall provide a guarantee to the EIB for financing or investment operations carried out within the Union covered by this Regulation ('EU guarantee'). The EU guarantee shall be granted as a guarantee on demand in respect of instruments referred to in Article 6Without prejudice to this regulation, the EU guarantee shall be irrevocable and unconditional and granted as a guarantee on demand in respect of instruments referred to in Article 6. It shall aim at regulatory capital relief in case granted to a promotional bank or an investment platform.
Amendment 921 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIFor EIB funding to the EIF at the level of investment in funds in order to conduct EIB financing and investment operations in accordance with Article 7(2) and approved by the Investment Committee referred to in Article 3(5). The operations concerned shall be consistent with Union policies and support any of the following general objectives:
Amendment 1029 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted through the EIB for support of dedicated investment platforms or funds and national promotional banks, via the EIB, or institutions that invest in operations meeting the requirements of this Regulation after approval by the Investment Committee referred to in Article 3(5). In that case, the Steering Board shall specify policies, in accordance with Article 3(1), regarding eligible investment platforms. Such operations, and the contributions thereto, shall be considered EFSI operations.
Amendment 1049 #
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
Amendment 1086 #
Proposal for a regulation
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) EIB loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement instrument, equity or quasi- equity participations, including through national promotional banks or institutions, investment platforms or funds. These Instruments shall be granted, acquired or issued for the benefit of operations carried out in the Union, including cross-border operations between a Member State and a third country, in compliance with this Regulation and where EIB financing has been granted in accordance with a signed agreement which has neither expired nor been cancelled;
Amendment 1091 #
Proposal for a regulation
Article 6 – paragraph 2 – point b
Article 6 – paragraph 2 – point b
(b) EIB funding to the EIF enabling it to undertake loans, guarantees, counter- guarantees, any other form of credit enhancement instrument, capital market instruments and equity or quasi-equity participations, including through national promotional banks or institutions, investment platforms or funds. These Instruments shall be granted, acquired or issued for the benefit of operations carried out in the Union, in compliance with this Regulation and where EIF financing has been granted in accordance with a signed agreement which has neither expired nor been cancelled.
Amendment 1097 #
Proposal for a regulation
Article 6 – paragraph 2 – point b a (new)
Article 6 – paragraph 2 – point b a (new)
(ba) EIB guarantee to national promotional banks or institutions, investment platforms or funds under a counter-guarantee of the Union.
Amendment 1280 #
Proposal for a regulation
Article 10 – paragraph 6 a (new)
Article 10 – paragraph 6 a (new)
6a. The Commission shall send to the European Parliament and the Council a report on the realisation of the investment priorities as specified in the delegated act under Article 3(3a) on the same date as the EIB reports under paragraphs 1 and 2. The report shall be accompanied by a proposal with necessary amendments of the delegated act under Article 3(3a).
Amendment 1314 #
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 2 a (new)
Article 12 – paragraph 1 – subparagraph 2 a (new)
This report shall include an evaluation of the impact of the EFSI on the investments in the Union, employment creation and access to financing for companies having up to 3000 employees, in particular for small and medium sized enterprises. This report shall be accompanied, if appropriate, by relevant proposals for an extension of the EFSI and modify this Regulation accordingly.
Amendment 1328 #
Proposal for a regulation
Article 12 – paragraph 5
Article 12 – paragraph 5
5. At the latest [PO insert date three years after the entry into force of this Regulation] and every three years thereafter, the Commission shall submit a report to the European Parliament and the Council on the application of this Regulation accompanied by any relevant proposal. This report shall include an evaluation of the impact of the EFSI on the investments in the Union, employment creation and access to financing for companies having up to 3000 employees, in particular for small and medium sized enterprises. This report shall be accompanied, if appropriate, by relevant proposals for an extension of the EFSI and modify this Regulation accordingly.
Amendment 1382 #
Proposal for a regulation
Article 17 – paragraph 1 a (new)
Article 17 – paragraph 1 a (new)
1a. The power to adopt delegated acts referred to in Article 1(2)a shall be conferred on the Commission for a period of one year from the entry into force of this Regulation.
Amendment 1383 #
Proposal for a regulation
Article 17 – paragraph 1 b (new)
Article 17 – paragraph 1 b (new)
1b. The power to adopt delegated acts referred in Article 1(2)b shall be conferred on the Commission for an unlimited period of time.