[ParlTrack]

Proposal for a directive
Recital 20 a (new)

(20a) The Basel Committee on banking supervision's oversight body, the Group of Central Bank Governors and Heads of Supervision, has endorsed on 7 December 2017 a set of measures to strengthen the Basel III framework. This set of measures revise approaches for calculating the risk weighted exposure amounts for credit risk, operational risk and the own fund requirements for credit valuation adjustment risk and introduce an aggregate output floor. This set of measures also revises the leverage ratio measurement and introduces a new leverage ratio buffer for global systemically important institutions. The provisions of the finalised Basel II framework should be incorporated into Regulation (EU) No 575/2013 in due course so as to enhance the risk- sensitivity of capital requirements for banks using standardized approaches and to reduce the variability of risk weighted exposures amounts, in particular for banks using the internal or advanced approaches. Being aligned with these new rules should also enhance the international level playing field for EU institutions operating outside the Union. In order to ensure that the implementation in the EU of this set of measures would not have negative consequences on the banking sector or on the financing of the economy, and to ensure that it takes into account in an appropriate manner the specificities of the EU banking sector, a comprehensive impact assessment should be conducted, as soon as possible, by the EBA to inform the Commission, before any legislative proposal is made.

2018/02/02
Committee: ECON

Caroline NAGTEGAAL, Marian HARKIN, Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a – point -1 (new)

Directive 2013/36/EU
Article 2 – paragraph 5 – introductory part

(-1) Article 2, paragraph 5, introductory part, is amended as follows: This Directive shall not apply only to the following:

2018/02/02
Committee: ECON

Caroline NAGTEGAAL, Marian HARKIN, Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b

Directive 2013/36/EU
Article 2 – paragraph 5a

~~5a. This Directive shall not apply to an institution where the Commission establishes in a~~ delegated act adopted pursuant to Article 148, on the basis of information available to it that the institution fulfils all of the following conditions, without prejudice to the application of state aid rules: (a) public law by a Member State's central government, regional government or local authority; (b) institution confirm that its activity is limited to advancing specified objectives of financial, social or economic public policy in accordance with the laws and provisions governing that institution, on a non-competitive, not for profit basis. For these purposes, public policy objectives may include the provision of financing for promotional or development purposes to specific economic activities, or geographical areas of the relevant Member State; (c) effective prudential requireit has been established under laws and provisions governing the it is subject to adequate and the central governments, including minimum own funds requirements, and to an adequate supervisory framework which has similar effect as the framework established under Union law; (d) government or local authority, as applicable, has an obligation to protect the institution's viability or directly or indirectly guarantees at least 90% of the institution's own funds requirements, funding requirements or exposures; (e) covered deposits as defined in point (5) of Article 2(1) of Directive 2014/49/EU of the European Parliament and of the Council12 ; (f) Member State where its head office is situated; (g) assets is below EUR 30 billion; (h) assets over the GDP of the Member State concerned is less than 20%; (i) the institution is not of significant relevance with regard to the domestic economy of the Member State concerned. The Commission shall regularly review whether an institution subject to a delegated act adopted pursuant to Article 148 continues to fulfil the conditions set out in the first subparagraph. __________________ 12 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast) (OJ L 173, 12.6.2014, p. 149)regional it is precluded from accepting its activities are confined to the the total value of the institution's the ratio of the institution's total

2018/02/02
Committee: ECON

Caroline NAGTEGAAL, Marian HARKIN, Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 1 – point d

Directive 2013/36/EU
Article 2 – paragraph 7

(d) the following paragraph 7 is added: ‘ By [5 years after entry into force], the Commission shall review the list set out in Article 2(5) by considering whether the reasons that led to the inclusion of entities in the list are still valid, the national legal framework and supervision applicable to the entities in the list, the type and quality of deposit coverage of the entities in the list and, for entities of the type specified in paragraphs 2(5a) and 2(5b) taking into account also the criteria described therein.. ’deleted

2018/02/02
Committee: ECON

Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 9

Directive 2013/36/EU
Article 21b – paragraph 3

3. Paragraphs 1 and 2 shall not apply where the total value of assets in the Union of the third country group is lower than EUR 30 billion~~, unless the third country group is a non-EU G-SII~~.

2018/02/02
Committee: ECON

Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)

Directive 2013/36/EU
Article 74

‘Article 74 Internal governance and recovery and resolution plans 1. Institutions shall have robust governance arrangements, which include a clear organisational structure with well- defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks they are or might be exposed to, adequate internal control mechanisms, including sound administration and accounting procedures, and remuneration policies and practices that are consistent with and promote sound and effective risk management. 2. The arrangements, processes and mechanisms referred to in paragraph 1 shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in(11a) Articles 7~~6 to 95 shall be taken into account. 3. EBA shall issue guidelines on the arrangements, processes and mechanisms referred to in paragraph 1, in accordance with paragraph 2.’~~4 is deleted

2018/02/02
Committee: ECON

Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 30 a (new)

Directive 2013/36/EU
Article 131 – paragraph 2 – point e

(~~e) cross-border activity of the group, including cross border activity between Member States and between a Member State and a third country~~30 a) In Article 131(2), point e is replaced by the following: (e) cross-border activity of the group made outside of Member States participating in the Single Supervisory Mechanism, in accordance with Council Regulation (EU) No 1024/2013.

2018/02/02
Committee: ECON

Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 30 b (new)

Directive 2013/36/EU
Article 131 – paragraph 3 – point c

(~~c) significance of cross-border activities;~~30 b) In Article 131(3), point c is replaced by the following: ‘(c) significance of cross-border activities made outside of Member States participating in the Single Supervisory Mechanism, in accordance with Council Regulation (EU) No 1024/2013.

2018/02/02
Committee: ECON

Thierry CORNILLET

Proposal for a directive
Article 1 – paragraph 1 – point 30 c (new)

Directive 2013/36/EU
Article 131 – paragraph 3 – subparagraph 2

(30 c) In Article 131, subparagraph 2 of paragraph 3 is replaced by the following: ‘EBA, after consulting the ESRB, shall publish updated guidelines by 1 January 2015XX1a on the criteria to determine the conditions of application of this paragraph in relation to the assessment of O- SIIs. Those guidelines shall take into account international frameworks for domestic systemically important institutions ands well as Union and national specificities.’ __________________ 1a 1 year after the entry into force of this directive

2018/02/02
Committee: ECON

9 Amendments of Thierry CORNILLET related to 2016/0364(COD)

ParlTrack - 2011-2024