BETA

50 Amendments of Bendt BENDTSEN related to 2011/0202(COD)

Amendment 187 #
Proposal for a regulation
Recital 68
(68) A leverage ratio is a new regulatory and supervisory tool for the Union. In line with international agreements, it should be introduced first as an additional feature that can be applied on individual institutions at the discretion of supervisory authorities. Reporting obligations for institutions would allow appropriate review and calibration, with a view to migrating to a binding measure in 2018 based on a legislative proposal by the Commission, and subject to the Union's full co-decision procedure.
2012/03/07
Committee: ECON
Amendment 204 #
Proposal for a regulation
Recital 76
(76) Apart from short-term liquidity needs, credit institutions and investment firms should also adopt funding structures that are stable at a longer term horizon. In December 2010, the BCBS agreed that the NSFR will move to a minimum standard by 1 January 2018 and that the BCBS will put in place rigorous reporting processes to monitor the ratio during a transition period and will continue to review the implications of these standards for financial markets, credit extension and economic growth, addressing unintended consequences as necessary. The BCBS thus agreed that the NSFR will be subject to an observation period and will include a review clause. In this context, EBA should, based on reporting required by this Regulation, evaluate how a stable funding requirement should be designed. Based on this evaluation, the Commission should report to Council and European Parliament together with any appropriate proposals in order to introducedecide whether such a requirement should be introduced by 2018.
2012/03/07
Committee: ECON
Amendment 210 #
Proposal for a regulation
Recital 85
(85) The power to adopt acts in accordance with Article 290 of the TFEU should also be delegated to the Commission in respect of prescribing a temporary reduction in the level of own funds or risk weights specified under that Regulation in order to take account of specific circumstances; to clarify the exemption of certain exposures from the application of provisions of that Regulation on large exposures; to specify amounts relevant to the calculation of capital requirements for the trading book to take account of developments in the economic and monetary field; to adjust the categories of investment firms eligible for certain derogations to required levels of own funds to take account of developments on financial markets; to clarify the requirement that investment firms hold own funds equivalent to one quarter of their fixed overheads of the preceding year to ensure uniform application of this Regulation; to determine the elements of own funds from which deductions of an institution's holdings of the instruments of relevant entities should be made; to introduce additional transitional provisions relating to the treatment of actuarial gains and losses in measuring defined benefit pension liabilities of institutions; and to temporarily increase in the level of own funds; and to specify liquidity requirements.
2012/03/07
Committee: ECON
Amendment 218 #
Proposal for a regulation
Recital 89
(89) The Commission should adopt the draft regulatory technical standards developed by EBA in the areas of cooperative societies or similar institutions, certain own funds instruments, prudential adjustments, deductions from own funds, additional own funds instruments, minority interests, services ancillary to banking, the treatment of credit risk adjustment, probability of default, loss given default, corporate Governance, approaches to risk- weighting of assets, convergence of supervisory practices, liquidity, and transitional arrangements for own funds, by means of delegated acts pursuant to Article 290 TFEU and in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level.
2012/03/07
Committee: ECON
Amendment 282 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 1
WThe competent authorities shall waive in full or in part the application of Article 401 to a parent institution and to all of its subsidiaries where all institutions of the single liquidity sub-group are authorised in the same Member State, paragraph 1 shall be applied by the competent authorities of that Member State and supervise them as a single liquidity sub group.
2012/03/07
Committee: ECON
Amendment 489 #
Proposal for a regulation
Article 49 – paragraph 1 – point n
(n) the provisions governing the instruments require the principal amount of the instruments except for the provisions contained under Article 51, paragraph c) let (i) below to be written down temporarily, or the instruments to be converted to Common Equity Tier 1 instruments, upon the occurrence of a trigger event;
2012/03/08
Committee: ECON
Amendment 493 #
Proposal for a regulation
Article 49 – paragraph 2 – subparagraph 1 – point b
(b) the nature of the permanent or temporarily write down of the principal amount;
2012/03/08
Committee: ECON
Amendment 521 #
Proposal for a regulation
Article 79 – paragraph 1 – point a – introductory part
(a) the Common Equity Tier 1 capital of the subsidiary minus the lowhigher of the following:
2012/03/08
Committee: ECON
Amendment 527 #
Proposal for a regulation
Article 79 – paragraph 1 – point a – point i
(i) the amount of Common Equity Tier 1 capital of that subsidiary required to meet the sum of the requirement laid down in point (a) of Article 87(1) a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution and the combined buffer referred to in Article 122(2) of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 533 #
Proposal for a regulation
Article 79 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Common Equity Tier 1 capital that relates to that subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (a) of Article 87(1) a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution in Article 72 of Directive and the combined buffer referred to in Article 122(2) of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 539 #
Proposal for a regulation
Article 80 – paragraph 1 – point a – introductory part
(a) the lowTier 1 capital of the subsidiary minus the higher of the following:
2012/03/08
Committee: ECON
Amendment 546 #
Proposal for a regulation
Article 80 – paragraph 1 – point a – point i
(i) the amount of Tier 1 capital of the subsidiary required to meet the sum of the requirement laid down in point (b) of Article 87(1), a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution and the combined buffer referred to in Article 122(2)of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 550 #
Proposal for a regulation
Article 80 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Tier 1 capital that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (b) of Article 87(1) a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution and the combined buffer referred to in Article 122(2)of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 554 #
Proposal for a regulation
Article 82 – paragraph 1 – point a – introductory part
(a) the lowOwn Funds of the subsidiary minus the higher of the following:
2012/03/08
Committee: ECON
Amendment 561 #
Proposal for a regulation
Article 82 – paragraph 1 – point a – point i
(i) the amount of own funds of the subsidiary required to meet the sum of the requirement laid down in point (c) of Article 87(1) a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution in Article 72 of Directive and the combined buffer referred to in Article 122(2) of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 564 #
Proposal for a regulation
Article 82 – paragraph 1 – point a – point ii
(ii) the amount of own funds that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 87(1), a specific requirement under Article 100 of Directive [inserted by OP] or the internal capital calculated by the institution in Article 72 of Directive and the combined buffer referred to in Article 122(2) of Directive [inserted by OP];
2012/03/08
Committee: ECON
Amendment 565 #
Proposal for a regulation
Article 82 – paragraph 1 – point b
(b) the qualifying own funds of the undertaking, expressed as a percentage of all own funds instruments of the subsidiary that are included in Common Equity Tier 1, Additional Tier 1 and Tier 2 items and the related retained earnings and share premium accounts
2012/03/08
Committee: ECON
Amendment 598 #
Proposal for a regulation
Article 96 – paragraph 3 – subparagraph 1 – point a
(a) uniform definition, formats, frequencies and dates of reporting of the items referred to in paragraph 1 to ensure a uniform and comparable definition of losses;
2012/03/08
Committee: ECON
Amendment 672 #
Proposal for a regulation
Article 120 – paragraph 2 – point b
(b) the risk of the borrower does not materially depend upon the performance of the underlying property or project, but on the underlying capacity of the borrower to repay the debt from other sources, and as a consequence, the repayment of the facility does not materially depend on any cash flow generated by the underlying property serving as collateral. For those other sources, institutions shall determine maximum loan-to-income ratio as part of their lending policy and obtain suitable evidence of the relevant income when granting the loan.deleted
2012/03/08
Committee: ECON
Amendment 750 #
Proposal for a regulation
Article 155 – paragraph 1
Institutions shall subtract the expected loss amounts calculated in accordance with Article 154(2)(3) and (7) from the sum of value adjustments and provisions related to these exposures. general and specific credit risk adjustments related to these exposures. Discounts on balance sheet exposures purchased when in default according to Article 162(1) shall be treated in the same manner as specific credit riskvalue adjustments Sspecific credit risk adjustments on exposures in default shall not be used to cover expected loss on other exposures. Expected loss amounts for securitiszed exposures and general and specific credit risk adjustments related to these exposures shall not be included in this calculation.
2012/03/08
Committee: ECON
Amendment 753 #
Proposal for a regulation
Article 160 – paragraph 4 – subparagraph 1
4. The exposure weighted average LGD for all retail exposures secured by residential property and not benefiting from guarantees from central governments shall not be lower than 10% The exposure weighted average LGD for all retail exposures secured by commercial immovable property and not benefiting from guarantees from central governments shall not be lower than 15%deleted
2012/03/08
Committee: ECON
Amendment 762 #
Proposal for a regulation
Article 174 – paragraph 1 – subparagraph 1 – point b
(b) the obligor is past due more than 90 days on any material credit obligation to the institution, the parent undertaking or any of its subsidiaries. The competent authorities of each Member State may set the number of days past due up to a figure of 180 for exposures secured by mortgages on immovable property to counterparties situated in their territory, if local conditions make it appropriate.
2012/03/08
Committee: ECON
Amendment 1027 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point a
(a) they are not issued by the institution itself or its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company; This does not apply to assets referred to in (i) and (ii) in paragraph 2, point (a), which are traded on an ongoing basis in the secondary market;
2012/03/09
Committee: ECON
Amendment 1036 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point c
(c) their price is generally agreed upon by market participants and can easily be observed in the market, or their price can be determined by a formula that is easy to calculate based on publicly available inputs and does not depend on strong assumptions as is typically the case for structured or exotic products;
2012/03/09
Committee: ECON
Amendment 1043 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point e
(e) they are tradable on active outright sale or repurchase agreement markets with a large and diverse number of market participants, a high trading volume, and market breadth and depth. These criteria should be interpreted separately for each market;
2012/03/09
Committee: ECON
Amendment 1080 #
Proposal for a regulation
Article 405 – paragraph 1 – point b
(b) not less than 60% of the liquid assets that the institution reports are assets referred to under points (a) to (c) of Article 404(1). Such assets owed and due or callable within 30 calendar days shall not count towards the 60% unless the assets have been obtained against collateral that also qualifies under points (a) to (c) of Article 404(1); Secured lending and capital market driven transactions, as defined in Article 188, that are collateralised by assets not qualifying as liquid assets according to Article 404, is not to have any impact on the eligible amount of liquid assets;
2012/03/09
Committee: ECON
Amendment 1092 #
Proposal for a regulation
Article 405 – paragraph 1 – point g
(g) the consistency of the denomination of the liquid assets is consistent with the distribution by significant currency of liquidity outflows after the deduction of capped inflows is monitored and reported, including the institution's ability to swap currencies and access the relevant foreign exchange markets. A currency is considered significant if the aggregate liabilities denominated in that currency amount to 5% or more of the institution's total liabilities.
2012/03/09
Committee: ECON
Amendment 1192 #
Proposal for a regulation
Article 413 – paragraph 1
1. Institutions shall report their capped liquidity inflows. Capped liquidity inflows shall be the liquidity inflows limited to 75% of liquidity outflows. Institutions may exempt liquidity inflows from deposits placed with other institutions and qualifying for the treatments set out in Article 108(6) or Article 108(7) from this limit. Institutions may exempt liquidity inflows from monies due from borrowers and bond investors related to mortgage lending funded by bonds eligible for the treatment set out in Article 124(3), (4) or (5) or as defined in Article 52(4) of Directive 2009/65/EC from this limit.
2012/03/09
Committee: ECON
Amendment 1204 #
Proposal for a regulation
Article 413 – paragraph 2 – point a
(a) monies due from customers that are not financial customers for the purposes of principal repayment shall be reduced by 50% of their value or by the contractual commitments to those customers to extend funding, whichever is higher. This does not apply to monies due from secured lending and capital market driven transactions as defined in Article 188 that are collateralised by liquid assets according to Article 404 and monies due from mortgage lending funded by bonds eligible for the treatment set out in Article 124(3), (4) or (5) or as defined in Article 52(4) of Directive 2009/65/EC;
2012/03/09
Committee: ECON
Amendment 1243 #
Proposal for a regulation
Article 414 – paragraph 1 – point b – point ix
(ix) liabilities resulting from securities issued qualifying for the treatment in Article 124 or as defined in Article 52(4) of Directive 2009/65/;
2012/03/09
Committee: ECON
Amendment 1259 #
Proposal for a regulation
Article 415 – paragraph 1 – point g a (new)
(g a) and separately those: v) collateralised by commercial real estate (CRE); (vi) collateralised by residential real estate (RRE); (vii) match funded (pass-through) via bond eligible for the treatment set out in Article 124 or as defined in Article 52(4) of Directive 2009/65/EC;
2012/03/09
Committee: ECON
Amendment 1270 #
Proposal for a regulation
Article 416 – paragraph 2 – subparagraph 2
Institutions shall calculate the leverage ratio as the simple arithmetic mean of the monthly leverage ratios over aevery quarter.
2012/03/09
Committee: ECON
Amendment 1386 #
Proposal for a regulation
Article 444
Liquidity 1. The Commission shall be empowered to adopt a delegated act in accordance with Article 445 to specify in detail the general requirement set out in Article 401. Such specification shall be based on the items to be reported according to Part Six, Title II. The delegated act shall also specify under which circumstances competent authorities have to impose specific in- and outflow levels on credit institutions in order to capture specific risks to which they are exposed. 2. The Commission shall be empowered to modify the items referred to in paragraph 1 or add additional items only if one of the following conditions is met: (a) a liquidity coverage requirement based on those criteria, considered either individually or cumulatively, would have a material detrimental impact on the business and risk profile of European institutions or on financial markets or the economy; or (b) modification is appropriate to align them with internationally agreed standards for liquidity supervision. For the purposes of point (a), in assessing the impact of a liquidity coverage requirement based on those criteria, the Commission shall take into account the reports referred to in paragraphs 1 and 2 of Article 481. 3. The Commission shall adopt the first delegated act referred to in paragraph 1 at the latest by 31 December 2015. A delegated act adopted in accordance with this Article shall, however, not apply before 1 January 2015.deleted
2012/03/09
Committee: ECON
Amendment 1486 #
Proposal for a regulation
Article 476 – paragraph 1 – introductory part
1. Until 31 December 2015, institutions calculating risk-weighted exposure amounts in accordance with Part Three, Title II, Chapter 3 and institutions using the Advanced Measurement Approaches as specified in Part Three, Title III, Chapter 4 for the calculation of their own funds requirements for operational risk shall meet both of the following requirements: (a) They shall hold own funds as required by Part Three Title II Chapter 1; (b) They shall meet a temporary capital ratio of not less 6.4%. The temporary capital ratio is the own funds of the institution expressed as a percentage of the risk-adjusted assets and off-balance sheet items as set out in Annex IV.deleted
2012/03/09
Committee: ECON
Amendment 1501 #
Proposal for a regulation
Article 478 – paragraph 1
The Commission shall, by 31 December 2015 and after consulting the EBA, report to the Parliament and the Council, together with any appropriate proposals, whether the risk weights laid down in Article 124 and the own funds requirements for specific risk in Article 325(5) are adequate for all the instruments that qualify for these treatments and whether the criteria in Article 124 should be made stare appropricater.
2012/03/09
Committee: ECON
Amendment 1528 #
Proposal for a regulation
Article 481 – paragraph 2 – introductory part
2. EBA shall, by 31 December 2013, report to the Commission on appropriate uniform definitions of high and of extremely high liquidity and credit quality of transferable assets for purposes of Article 404, taking into account all relevant factors such as the applicable legal framework, incentive structures, available market initiatives and tools designed to enhance transparency and liquidity of assets. EBA shall in particular test the adequacy of the following criteria and the appropriate levels for such definitions:
2012/03/09
Committee: ECON
Amendment 1530 #
Proposal for a regulation
Article 481 – paragraph 2 – point a
(a) minimum trade volume of the assets
2012/03/09
Committee: ECON
Amendment 1531 #
Proposal for a regulation
Article 481 – paragraph 2 – point b
(b) minimum outstanding volume of the assets
2012/03/09
Committee: ECON
Amendment 1533 #
Proposal for a regulation
Article 481 – paragraph 2 – point d
(d) credit quality steps referred to in Sub- section 2 of Annex VI
2012/03/09
Committee: ECON
Amendment 1534 #
Proposal for a regulation
Article 481 – paragraph 2 – point g
(g) maximum bid/ask spread
2012/03/09
Committee: ECON
Amendment 1535 #
Proposal for a regulation
Article 481 – paragraph 2 – point i
(i) minimum turnover ratio
2012/03/09
Committee: ECON
Amendment 1543 #
Proposal for a regulation
Article 481 – paragraph 2 a (new)
2 a. The Commission shall submit a legislative proposal to the European Parliament and Council to specify in detail the general requirement set out in Article 401. Such legislative proposal shall be based on the items to be reported according to Part Six, Title II. The legislative proposal shall also specify under which circumstances competent authorities have to impose specific in- and outflow levels on credit institutions in order to capture specific risks to which they are exposed.
2012/03/09
Committee: ECON
Amendment 1544 #
Proposal for a regulation
Article 481 – paragraph 2 b (new)
2 b. For the purposes of paragraph 3 the Commission shall either individually or cumulatively assess whether a liquidity coverage requirement would have a detrimental impact on the business and risk profile of European institutions or on financial markets or the economy and shall take into account the reports referred to in paragraphs 1 and 2.
2012/03/09
Committee: ECON
Amendment 1545 #
Proposal for a regulation
Article 481 – paragraph 2 c (new)
2 c. The Commission shall submit the proposal referred to in paragraph 3 at the latest by 31 December 2014.
2012/03/09
Committee: ECON
Amendment 1549 #
Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 1
By 31 December 2015, EBA shall report to the Commission on whether and how it would be appropriate to ensure that institutions use stable sources of funding, including an assessment of the impact on the business and risk profile of Union institutions, including non-deposit taking institutions, or on financial markets or the economy and bank lending, with a particular focus on lending to small and medium enterprises and on trade financing, including lending under official export credit insurance schemes, and match funded mortgage lending.
2012/03/09
Committee: ECON
Amendment 1556 #
Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 2 a (new)
The reports referred to in paragraph 1, 2 and 6 shall be open for public consultation in all Member States before submitted to the Commission.
2012/03/09
Committee: ECON
Amendment 1561 #
Proposal for a regulation
Article 482 – paragraph 1
1. The Commission shall submit by 31 December 2016 a report on the impact and effectiveness of the leverage ratio to the European Parliament and the Council. Where appropriate, the report shall be accompanied by a legislative proposal on the introduction of one or more levels for the leverage ratio that institutions would be required to meet as a Pillar I tool or a continuation of a Pillar II approach, suggesting an adequate calibration for those levels and any appropriate adjustments to the capital measure and the total exposure measure as defined in Article 416. Any legislative proposal for one or more levels of leverage ratio shall be expressly subject to the full European legislative process involving the Parliament and Council.
2012/03/09
Committee: ECON
Amendment 1622 #
Proposal for a regulation
Article 487 – paragraph 1
1. Subject to paragraph 2, this Regulation shall apply from 1 January 20134.
2012/03/09
Committee: ECON
Amendment 1627 #
Proposal for a regulation
Article 487 – paragraph 2
2. Article 436(1) shall apply from 1 January 20156.
2012/03/09
Committee: ECON
Amendment 1628 #
Proposal for a regulation
Article 487 – paragraph 2
2. Article 436(1) shall apply from 1 January 20158.
2012/03/09
Committee: ECON