Activities of Thierry CORNILLET related to 2016/0362(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2014/59/EU on loss-absorbing and recapitalisation capacity of credit institutions and investment firms and amending Directive 98/26/EC, Directive 2002/47/EC, Directive 2012/30/EU, Directive 2011/35/EU, Directive 2005/56/EC, Directive 2004/25/EC and Directive 2007/36/EC PDF (841 KB) DOC (106 KB)
Amendments (22)
Amendment 75 #
Proposal for a directive
Article 1 – paragraph 4
Article 1 – paragraph 4
Directive 2014/59/EU
Article 2 – paragraph 1 – point 83b
Article 2 – paragraph 1 – point 83b
(83b) 'resolution group' means a resolution entity and its subsidiaries that are not resolution entities themselves and that are not subsidiaries of another resolution entity; when the resolution entity of the resolution group is the central body of a network or a cooperative group, the credit institutions permanently affiliated to this central body are also part of the resolution group;
Amendment 127 #
Proposal for a directive
Article 1 – paragraph 18
Article 1 – paragraph 18
Directive 2014/59/EU
Article 27 – paragraph 1 – point i
Article 27 – paragraph 1 – point i
Amendment 133 #
Proposal for a directive
Article 1 – paragraph 19
Article 1 – paragraph 19
Directive 2014/59/EU
Article 29a
Article 29a
Amendment 197 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45 – paragraph 2 a (new)
Article 45 – paragraph 2 a (new)
2 a. For each institution affiliated to cooperative institutions, authorities shall consider adding to own funds and eligible liabilities of this institution the irrevocable financial support provided by other affiliated institutions through legally- based internal solidarity mechanism to fulfil the requirement.
Amendment 211 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 2 – subparagraph 1 – point a
Article 45b – paragraph 2 – subparagraph 1 – point a
(a) a given amount of the liability arising from the debt instrument is known in advance at the time of issuance, is fixeduntil maturity is fixed or only increasing from a certain floor amount and not affected by a derivative feature;
Amendment 218 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 2 – subparagraph 2
Article 45b – paragraph 2 – subparagraph 2
The liabilities referred to in the first subparagraph shall only be included in the amount of own funds and eligible liabilities for the part that corresponds with the amount or the floor amount referred to in point (a) of the first subparagraph.
Amendment 264 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – introductory part
Article 45c – paragraph 3 – subparagraph 1 – introductory part
Amendment 281 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore its total capital ratio referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU at resolution group sub- consolidated level;
Amendment 300 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparapgraph 4
Article 45c – paragraph 3 – subparapgraph 4
The resolution authority shall set the recapitalisation amounts referred to in the previous subparagraphs in accordance with the resolution actions foreseen in the resolution plan in particular reflecting the decrease of the total risk exposure amount and of the leverage ratio exposure measure resulting from the resolution actions and may adjust those recapitalisation amounts to adequately reflect risks that affect resolvability arising from the resolution group’s business model, funding profile and overall risk profile.
Amendment 313 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – introductory part
Article 45c – paragraph 4 – subparagraph 1 – introductory part
4. Without prejudice to the last subparagraph, fFor entities that are not themselves resolution entities, the amount referred to in paragraph 2 shall not exceed the greater of any of the following:
Amendment 322 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point a – point ii
Article 45c – paragraph 4 – subparagraph 1 – point a – point ii
(ii) a recapitalisation amount that allows the entity to restore its total capital ratio referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU;
Amendment 338 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 4
Article 45c – paragraph 4 – subparagraph 4
The resolution authority shall set the recapitalisation amounts referred to the previous subparagraphs in accordance with the resolution actions foreseen in the resolution plan in particular reflecting the decrease of the total risk exposure amount and of the leverage ratio exposure measure resulting from the resolution actions and may adjust those recapitalisation amounts to adequately reflect risks that affect the recapitalisation needs arising from the entity's business model, funding profile and overall risk profile.
Amendment 388 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 1 – subparagraph 1 – introductory part
Article 45e – paragraph 1 – subparagraph 1 – introductory part
The resolution authority may give guidance to an entity subject to the requirement referred to in Article 45(1) to have own funds and eligible liabilities that fulfil the conditions of Article 45b orexcept for 45b(3) or the conditions of 45g(3) in excess of the levels set out in Article 45c and Article 45d that provides for additional amounts for the following purposes:
Amendment 400 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 2 – subparagraph 2
Article 45e – paragraph 2 – subparagraph 2
The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffer requirement referred to in point (6) of Article 128 of Directive 2013/36/EU, except for the requirement referred to in point (a) and (d) of that provision, unless a higher level is necessary to ensure that, following the event of resolution, the entity continues to meet the conditions for its authorisation for an appropriate period of time that is not longer than one year.
Amendment 414 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 1 – subparagraph 1
Article 45g – paragraph 1 – subparagraph 1
Institutions that are material subsidiaries as defined in Regulation 575/2013/EU of a resolution entity and are not resolution entities themselves shall comply with the requirements laid down in Articles 45c to 45e on an individual basis. A resolution authority may, after having consulted the competent authority, decide to apply the requirement laid down in this Article to an entity referred to in points (a), (b), (c) or (d) of Article 1(1) that is a subsidiary of a resolution entity and is not a resolution entity itself.
Amendment 431 #
Proposal for a directive
Article 1 – paragraph 23 (new)
Article 1 – paragraph 23 (new)
Directive 2014/59/EU
Article 45g – paragraph 2 – point d a (new)
Article 45g – paragraph 2 – point d a (new)
(d a) it shall not exceed 90% of the requirement calculated in accordance with Articles 45c to 45e.
Amendment 456 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point a
Article 45g – paragraph 5 – point a
Amendment 471 #
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point g
Article 45g – paragraph 5 – point g
Amendment 480 #
Proposal for a directive
Article 1 – paragraph 23 (new)
Article 1 – paragraph 23 (new)
Directive 2014/59/EU
Article 45g – paragraph 5 a (new)
Article 45g – paragraph 5 a (new)
5 a. The resolution authority of an entity of the resolution group that is not a resolution entity shall fully waive the application of paragraphs 1 to5 to that entity where: (a) the resolution entity of the resolution group is the central body of a network or a cooperative group; (b) the entity is a credit institution permanently affiliated to this central body.
Amendment 553 #
Proposal for a directive
Article 1 – paragraph 25
Article 1 – paragraph 25
Directive 2014/59/EU
Article 63 – paragraph 1 – point n
Article 63 – paragraph 1 – point n
Amendment 579 #
Proposal for a directive
Article 2 – paragraph -1 (new)
Article 2 – paragraph -1 (new)
Directive 98/26/EC
Article 2 – point a a (new)
Article 2 – point a a (new)
In Article 2, the following point (aa) is added: “(aa) "Protected third country system" shall mean a system governed by the law of a third country and subject to Article 8 of this Directive.”
Amendment 582 #
Proposal for a directive
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
Directive 98/26/EC
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
In article 10, the following paragraph (2a) is added: Without prejudice to paragraphs 1 and 2 of this Article, central counterparties recognised by ESMA under the Regulation (EU) No 648/2012* and third- country central securities depositories recognised by ESMA under the Regulation (EU) No 909/2014** shall be protected third country systems and listed in the ESMA list of systems protected under this Directive. Where a cooperative oversight arrangement has been established, the relevant Union central bank of issue of a currency processed in a third country payment system may notify a payment system to ESMA as a protected third country system. ESMA shall list such a system as a system protected under this Directive. _______________ * Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ L 201, 27.7.2012, p. 1). ** Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257, 28.8.2014, p. 1).