Activities of José GUSMÃO related to 2022/2061(INI)
Shadow reports (1)
REPORT on Banking Union – annual report 2022
Amendments (24)
Amendment 33 #
Motion for a resolution
Recital C
Recital C
C. whereas the Russian aggression against Ukraine and its economic and social consequences, historical high levels of inflation, and an inadequate restrictive monetary policy will have a direct and indirect impact on the EU banking sector;
Amendment 43 #
Motion for a resolution
Recital E
Recital E
E. whereas the non-bank financial intermediary sector continues to grow, creating further risks on financial stability; whereas banks’ exposures to non- bank financial intermediaries remain high, which exacerbates their financial interconnectedness;
Amendment 48 #
Motion for a resolution
Recital F
Recital F
F. whereas the role of the banking sector is crucial to the transition to a sustainable economy; and plays a key role for channelling savings into productive investments; whereas therefore the banking sector must refrain from any speculative activities;
Amendment 50 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
F a. whereas the main purpose in the designing of banking sector economic policies should be to minimise: (1) the likelihood of bank failures, (2) the economic impact of failing banks and (3) the risk of systemic banking crises;
Amendment 55 #
Motion for a resolution
Recital G
Recital G
G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber risks and social exclusion;
Amendment 60 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Amendment 63 #
Motion for a resolution
Recital I
Recital I
Amendment 72 #
Motion for a resolution
Recital J
Recital J
Amendment 114 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; regrets, however, that the international framework still encompasses undesirable carve-outs;
Amendment 117 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. NoteRegrets that the ECB has decided to raise its main interest rates from 0 % to 2 % for the main refinancing operation rate; is concerned about the negative impacts on financial stability by augmenting the risk of credit default;
Amendment 149 #
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 171 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ; welcomnotes that the stock of non-performing loans in banks’ balance sheets has continued to decrease; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’, accessed 15 December 2022.
Amendment 179 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. NotStresses that the banking sector’s profitability has increased over the past year and calls for banks to keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war, inflation and the monetary policy choices;
Amendment 185 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Stresses that, on average, the top- five banks in EU Member States hold 68% of all banking assets in the market, exceeding 80% in some cases, and that the EU’s 37 largest banks account for 71,4% of domestic banking total assets; stresses this systemic tendency to create ’too big to fail’ banks promotes financial risks, as already proven in the global financial crisis, and has never been truly tackled;
Amendment 186 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10 b. Believes that a well-diversified banking sector, including small and local banks, as well as public ones, offers the best solution for companies and households;
Amendment 187 #
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10 c. Is concerned that the SSM supervisory practice results in differentiated capital requirements for banks, having higher ones in peripheral Member States; stresses that Basel III regulation and CRD/CRR IV specify zero risk weightings for sovereign debt;
Amendment 188 #
Motion for a resolution
Paragraph 10 d (new)
Paragraph 10 d (new)
Amendment 190 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 228 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector and calls for a better supervisory framework to mitigate it; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’;
Amendment 232 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. NotStresses that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this reMiCA in this regard; stresses, however, the need to further ameliorate the regulation, namely by including NFT and DeFi, under a so- called MiCA II, as suggested by Christine Lagarde;
Amendment 243 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Stresses that financial institutions that benefit from any form of public support, including capital relief measures, have to halt dividend distribution, share buybacks and variable remuneration payments;
Amendment 245 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Regrets that the current framework blocks public bailouts in favour of a bail-in strategy, ending up promoting resolution or liquidation measures; moreover, regrets an excessive liquidation approach to banks in difficulties, even when still potentially viable and solvent, and stresses that the resolutions often entail significant restructuring of liabilities and partly liquidation of banks;
Amendment 246 #
16 c. Stresses that these measures contribute to bank runs, do not contribute to financial stability and often indirectly pressure government budgets;
Amendment 287 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Stresses that establishing EDIS should be done with no measures to limit bank exposures to sovereigns, such as the introductions of penalties for the lack of diversification or a risk weighting model for different sovereign loans;