12 Amendments of Philippe LAMBERTS related to 2010/0232(COD)
Amendment 87 #
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7a) It is necessary that annual stress tests organised by the coordinator at the level of each financial conglomerate are based on relevant parameters provided by the Joint Committee. In particular, stress tests should take account of liquidity and solvency risks of the conglomerates and should cover not only assets in their available-for-sale (AFS) books, but also assets held-to-maturity.
Amendment 92 #
Proposal for a directive – amending act
Article 2 – point 2 – point -a (new)
Article 2 – point 2 – point -a (new)
Directive 2002/87/EC
Article 3 – paragraph 1
Article 3 – paragraph 1
(-a) Paragraph 1 is replaced by the following: "1. For the purposes of determining whether the activities of a group mainly occur in the financial sector, within the meaning of Article 2(14)(c), the ratio of the balance sheet total of the regulated and non-regulated financial sector entities in the group to the balance sheet total of the group as a whole should exceed 10 %."
Amendment 94 #
Proposal for a directive – amending act
Article 2 – point 2 – point a
Article 2 – point 2 – point a
Directive 2002/87/EC
Article 3 – paragraph 2 – subparagraph 3
Article 3 – paragraph 2 – subparagraph 3
(a) The following third subparagraph is added to paragraph 2: “Asset management companies within the meaning of Article 30 are added to the sector they belong to within the group; if they do not belong exclusively to one sector within the group, they are added to the smallest financial sector.”Paragraph 2 is deleted.
Amendment 99 #
Proposal for a directive – amending act
Article 2 – point 2 – point b
Article 2 – point 2 – point b
Directive 2002/87/EC
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Cross-sectoral activities shall also be presumed to be significant within the meaning of Article 2(14)(e) if the balance sheet total of the smallest financial sector in the group exceeds EUR 61 billion.
Amendment 100 #
Proposal for a directive – amending act
Article 2 – point 2 – point b
Article 2 – point 2 – point b
Directive 2002/87/EC
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
If the group does not reach the threshold referred to in paragraph 2, the relevant competent authorities may decide by common agreement not to regard the group as a financial conglomerate. They may also decide not to apply the provisions of Articles 7, 8, or 9, if they are of the opinion that the inclusion of the group in the scope of this Directive or the application of such provisions is not necessary or would be inappropriate or misleading with respect to the objectives of supplementary supervision.
Amendment 104 #
Proposal for a directive – amending act
Article 2 – point 2 – point c
Article 2 – point 2 – point c
Directive 2002/87/EC
Article 3 – paragraph 3a – subparagraph 1
Article 3 – paragraph 3a – subparagraph 1
3.a If the group reaches the threshold referred to in paragraph 2, but the smallest sector does not exceed EUR 61 billion, the relevant competent authorities may decide by common agreement not to regard the group as a financial conglomerate. They may also decide not to apply the provisions of Articles 7, 8, or 9, if they are of the opinion that the inclusion of the group in the scope of this Directive or the application of such provisions is not necessary or would be inappropriate or misleading with respect to the objectives of supplementary supervision.
Amendment 106 #
Proposal for a directive – amending act
Article 2 – point 2 – point e
Article 2 – point 2 – point e
Directive 2002/87/EC
Article 3 – paragraph 5
Article 3 – paragraph 5
5. For the application of paragraphs 1 and 2, the relevant competent authorities may, in exceptional cases and by common agreement, replace the criterion based on balance sheet total with one or more of the following parameters or add one or more of these parameters, if they are of the opinion that these parameters are of particular relevance for the purpose of supplementary supervision under this Directive: income structure, off-balance sheet activities, total assets under management.
Amendment 109 #
Proposal for a directive – amending act
Article 2 – point 2 – point f
Article 2 – point 2 – point f
Directive 2002/87/EC
Article 3 – paragraph 8 a (new)
Article 3 – paragraph 8 a (new)
8a. The competent authorities shall reassess on an annual basis the waiving of the application of supplementary supervision, reviewing the quantitative indicators set out in this Article and risk- based assessments applied to financial groups.
Amendment 110 #
Proposal for a directive – amending act
Article 2 – point 2 a (new)
Article 2 – point 2 a (new)
Directive 2002/87/EC
Article 5 – paragraph 3 a (new)
Article 5 – paragraph 3 a (new)
(2a) In Article 5, the following paragraph is inserted: "3a. Non-regulated financial entities, including off-balance sheet vehicles, shall be subject to supplementary supervision at the level of the conglomerate in accordance with Articles 6 to 17."
Amendment 114 #
Proposal for a directive – amending act
Article 2 – point 3 a (new)
Article 2 – point 3 a (new)
Directive 2002/87/EC
Article 7 – paragraph 3 a (new)
Article 7 – paragraph 3 a (new)
(3a) In Article 7, the following paragraph is inserted: "3a. In the event that the competent authority finds that the overall balance sheet of the financial conglomerate exceeds EUR 100 billion and the financial conglomerate concerned does not, within one year of a such a finding, reduce its balance sheet to within that ceiling, it shall be subject to capital requirements of three times the amount stipulated in the relevant sectoral legislation referred to in Article 1."
Amendment 116 #
Proposal for a directive – amending act
Article 2 – point 5
Article 2 – point 5
Directive 2002/87/EC
Article 8 – paragraph 5
Article 8 – paragraph 5
(5) The following paragraph 5 is added to Article 8: “5. The European Banking Authority and the European Insurance and Occupational Pensions Authority shall issue common guidelines aimed at the convergence of supervisory practices with regard to the application of supplementary supervision of intra-group tranArticle 8 is replaced by the following: "Article 8 Intra-group transactions In the event that the competent authority finds that a financial conglomerate does not strictly separate transactions between its banking, insurance and investment entities, including standalone capitalisactions as provided for in paragraphs 1 to 4.. They shall issue specific common guidelines on the application of paragraphs 1 to 4 to for each sector and the financial conglomerate concerned does not implement such a separaticipations of the financial conglomerate in cases where national company law provisions obstruct the application ofon within six months of such finding, the financial conglomerate shall be subject to capital requirements three times the amount stipulated in the relevant sectoral legislation referred to in Article 14(2).”."
Amendment 124 #
Proposal for a directive – amending act
Article 2 – point 7 a (new)
Article 2 – point 7 a (new)
Directive 2002/87/EC
Article 12 b (new)
Article 12 b (new)
(7a) The following Article is inserted: "Article 12b Common guidelines The Joint Committee shall develop common guidelines on how risk-based assessments of conglomerates are to be conducted by the competent authority. In particular, such common guidelines shall ensure that risk-based assessments include appropriate tools in order, on the one hand to assess group risks posed to the conglomerates - including leverage and solvency ratios - and, on the other hand, to guarantee full disclosure of the on and off-balance sheet exposures of conglomerates."