32 Amendments of Olle SCHMIDT related to 2010/2006(INI)
Amendment 30 #
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, complexity and interconnectedness across Europe, calling for an urgent andcross border banks have an international dimension and should therefore be subject to a targeted special regime,
Amendment 41 #
Motion for a resolution
Recital O
Recital O
O. whereas a special regime for Systemic Bcross- border banks, in order to be effective in supporting interventions, requires a common set of rules, appropriate expertise and financial resources,
Amendment 44 #
Motion for a resolution
Recital P
Recital P
Amendment 78 #
Motion for a resolution
Annex – recommendation 1 – paragraph 3
Annex – recommendation 1 – paragraph 3
3. Attribute to the relevant supervisor the responsibility for crisis managementearly intervention and the approval of each bank’s contingency plan, as follows: • for Systemic Bcross-border banks: the European Banking Authority (EBA) in close cooperation with the college of national supervisors and the Cross Border Stability Groups (as defined in the above-mentioned Memorandum of Understanding of June 2008); • for all other cross border non-systemic banks: the consolidated supervisor within the college, under the coordination of the EBA and in consultation with the Cross Border Stability Groups; • for local banks: the local supervisor.
Amendment 88 #
Motion for a resolution
Annex – recommendation 1 – paragraph 4
Annex – recommendation 1 – paragraph 4
4. Design an EU supervisors’ common set of rules for crisis management including common methodologies, definitions and terminology.
Amendment 92 #
Motion for a resolution
Annex – recommendation 1 – paragraph 5
Annex – recommendation 1 – paragraph 5
5. Resolution plans to become a mandatory regulatory requirement. The requirement for the content of the plan should be proportionate to the bank's size, activities and geographical spread.
Amendment 101 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – introductory part
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – introductory part
8. Expand the crisis management minimumearly intervention toolbox available to supervisors, beyond the Article 136 of Directive 2006/48/EC, to include at least the power to:
Amendment 106 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 4
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 4
Amendment 109 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 5
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 5
Amendment 111 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 6
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 6
Amendment 116 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 7
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 7
Amendment 118 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8
Amendment 126 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 a (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 a (new)
• control the process of intra-group asset transfers;
Amendment 127 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 b (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 b (new)
• impose on an institution a specified time limit in any aspect of their activities, to reduce their risks or the institution to take other action;
Amendment 128 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 c (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 c (new)
• impose that the CEO of the bank and / or member of the Executive Board should resign and at the same time appoint a replacement until the bank has appointed a new CEO and /or member of the Executive Board;
Amendment 129 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 d (new)
Annex – recommendation 1 – paragraph 8 – subparagraph 1 – indent 8 d (new)
• impose a minimum amount of capital, which is greater than the sum of capital requirements for credit risk, market risk and operational risk, as calculated in accordance with the law, if there are deficiencies in the institution's solvency, liquidity, risk management, transparency and internal instructions;
Amendment 132 #
Motion for a resolution
Annex – recommendation 1 – paragraph 8 – subparagraph 2
Annex – recommendation 1 – paragraph 8 – subparagraph 2
Amendment 144 #
Motion for a resolution
Annex – recommendation 2 – title
Annex – recommendation 2 – title
Recommendation 2 on SystemicCross-Border Banks
Amendment 158 #
Motion for a resolution
Annex – recommendation 2 – paragraph 2
Annex – recommendation 2 – paragraph 2
2. Systemic BCross-border banks shall adhere to the new special regime which shall overcome legal impediments to effective action across borders while ensuring clear, equal and predictable treatment of shareholders, depositors, creditors and other stakeholders, in particular after intra- group asset transfers.
Amendment 173 #
Motion for a resolution
Annex – recommendation 2 – paragraph 3
Annex – recommendation 2 – paragraph 3
3. The Commission shall adopt a measure setting up, before April 2011, criteria for definition of Systemic Bcross-border banks based on a draft elaborated by the European Systemic Risk Board (ESRB).
Amendment 177 #
Motion for a resolution
Annex – recommendation 2 – paragraph 4
Annex – recommendation 2 – paragraph 4
Amendment 187 #
Motion for a resolution
Annex – recommendation 2 – paragraph 5
Annex – recommendation 2 – paragraph 5
5. For each of the Systemic Bcross-border banks, the EBA shall lead the college of supervisors, act under normal circumstances through national supervisors and retain the ultimate decision power and a binding mediating role.
Amendment 193 #
Motion for a resolution
Annex – recommendation 2 – paragraph 6
Annex – recommendation 2 – paragraph 6
6. An EU Financial Stability Fund and a Resolution Unit shall support interventions led by the EBA (resolution or insolvency) as regards Systemic Bcross- border banks.
Amendment 203 #
Motion for a resolution
Annex – recommendation 3 – paragraph 1
Annex – recommendation 3 – paragraph 1
1. An EU Financial Stability Fund shall be created, under the responsibility of the EBA, to finance interventions (rehabilitation or orderly winding-up) aimed at preserving the system’s stability and limit contagion from failing banks. The Commission shall present to the Parliament, by April 2011, a proposal with details of the Fund’s charter, structure, governance, size, operating model as well as a precise calendar for implementation (in accordance with points 2 and 3 below).
Amendment 209 #
Motion for a resolution
Annex – recommendation 3 – paragraph 2 – indent 2
Annex – recommendation 3 – paragraph 2 – indent 2
• funded ex-ante by the Systemic Banks on the basis of risk-based, countercyclical criteriaat least partially ex-ante whereby any potential bank levy will have to flow entirely into the Fund;
Amendment 231 #
Motion for a resolution
Annex – recommendation 3 – paragraph 3 – indent 4
Annex – recommendation 3 – paragraph 3 – indent 4
Amendment 236 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1
Annex – recommendation 4 – paragraph 1
1. An independent resolution unit shall be established within the EBA to lead the resolution and insolvency procedures for Systemic Bcross-border banks. This unit shall: • operate within the strict boundaries defined by theits legal framework and the EBA’s competencies; • be a pool of legal and financial expertise specially skilled in bank restructurings, turnarounds and liquidation; • cooperate closely with national authorities on implementation, technical assistance and sharing of staff; • propose the disbursements from the Stability Fund.
Amendment 241 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1 a (new)
Annex – recommendation 4 – paragraph 1 a (new)
1a. Provided by the establishment of criteria for when a cross-border bank should be considered in crisis and that decision is taken on such a state of crisis, the resolution unit is given adequate powers to deal with the situation.
Amendment 242 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1 b (new)
Annex – recommendation 4 – paragraph 1 b (new)
1b. A clear distinction should be made between the powersthat the resolution unit should be given under "normal circumstances" and those powers the resolution unit shall be given in case of crisis.
Amendment 243 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1 c (new)
Annex – recommendation 4 – paragraph 1 c (new)
Amendment 245 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1 d (new)
Annex – recommendation 4 – paragraph 1 d (new)
1d. The independent resolution unit’s toolbox should include at least the power to: • impose a total or partial sale; • create a Bridge Bank or Good Bank/Bad Bank; • require swaps of debt into equity with appropriate haircuts; • take temporary public control; • winding-up; • impose the opportunity for redemption of shares in certain specified cases.
Amendment 247 #
Motion for a resolution
Annex – recommendation 4 – paragraph 1 e (new)
Annex – recommendation 4 – paragraph 1 e (new)
1e. For banks contributing to the EU Financial Stability Fund, the powers shall include: • provision of direct loans; • injection of capital.