66 Amendments of Sven GIEGOLD related to 2012/0242(CNS)
Amendment 80 #
Proposal for a regulation
Recital 2
Recital 2
(2) Maintaining and deepening the internal market for banking services is essential in order to foster economic recovery in the Union. However this proves increasingly challenging. Evidence shows that the integra severe renationalisation of banking markets in the Union is coming to a halthas already taken place.
Amendment 92 #
Proposal for a regulation
Recital 4
Recital 4
(4) Competence for supervision of individual banks in the Union remains mostly at national level. This limits the effectiveness of supervision and the ability of supervisors to reach a common understanding of the soundness of the banking sector throughout the Union. In order to preserve and increastore the positive effects of market integration on growth and welfare, integration of supervisory responsibilities should therefore be enhanced.
Amendment 117 #
Proposal for a regulation
Recital 9
Recital 9
(9) A European banking union should therefore be set up under the lead of the European Banking Authority, underpinned by a true single rulebook for financial services and a single handbook for financial supervision for the Single Market as a whole and composed of a single supervisory mechanism, and a commonn integrated system of deposit insurance and European resolution framework. und for systemic banks. In view of the close links and interactions between all Member States participating in the common currency, the banking union should apply at least to allnot be limited to Euro area Member States. With a view to maintaining and deepening the internal market, and to the extent that this is institutionally possible, the banking union should also be open to thethe decisions for a banking union should be taken by a body in which every participation of otherng Member State has equal rights.
Amendment 241 #
Proposal for a regulation
Recital 21
Recital 21
(21) In order to preserve financial stability, the deterioration of an institution's financial and economic situation must be remedied before that institution reaches a point at which authorities have no other alternative than to resolve it or to use tax payers' money for intervention. The ECB should have the task to carry out early intervention actions as defined in relevant Union law. It should however coordinate its early intervention action with the relevant resolution authorities. Pending the conferral of resolution powers on a European body, the ECB should moreover coordinate appropriately with the national authorities concerned to ensure a common understanding about respective responsibilities in case of crises, in particular in the context of the cross border crisis management groups and the future resolution colleges established for these purposes.
Amendment 242 #
Proposal for a regulation
Recital 22
Recital 22
Amendment 247 #
Proposal for a regulation
Recital 22 a (new)
Recital 22 a (new)
(22 a) The Commission should propose a revision of prudential legislation to harmonise the supervision of credit institutions from third countries establishing a branch or providing cross- border services in the Union. Subsequent to any such legislative proposal the ECB should be empowered to perform the necessary tasks.
Amendment 272 #
Proposal for a regulation
Recital 26
Recital 26
(26) The ECB should carry out its tasks subject to and in compliance with any Union law rule including the whole of primary and secondary Union law, Commission decisions in the area of State aids, competition rules and merger control and, the single rulebook applying to all Member States and the single supervisory handbook issued by the EBA. The EBA is entrusted with developing draft technical standards and guidelines and recommendations ensuring supervisory convergence and consistency of supervisory outcomes within the Union. The ECB should not replace the exercise of these tasks by the EBA, and should therefore exercise powers to adopt regulations in accordance with Article 132 TFEU only whereaddress recommendations for Union acts adopted by the European Commission upon drafts developed by the EBA or guidelines and recommendations issued by the EBA do not deal with certain aspectswhere deemed necessary for the proper exercise of the ECB's tasks or do not deal with them in sufficient detailits tasks.
Amendment 287 #
Proposal for a regulation
Recital 29
Recital 29
(29) As regards the supervision of cross- border banks active both inside and outside the Euro area the ECB should cooperate closely with the competent authorities of non participating Member States. As a competent authority the ECB should be subject to the related obligations to cooperate and exchange information under Union law and should participate fully in the colleges of supervisors. In addition, since the exercise of supervisory tasks by a European institution brings about clear benefits in terms of financial stability and sustainable market integration, Member States not participating in the common currency should therefore also have the possibility to participate in the new mechanism. However, it is a necessary pre- condition for an effective exercise of supervisory tasks, that supervisory decisions are implemented fully and without delay. Member States wishing to participate in the new mechanism should therefore undertake to ensure that their national competent authorities will abide by and adopt any measure in relation to credit institutions requested by the ECB. The ECB should be able to establish a close cooperation with the competent authorities of a Member State not participating in the common currency. It should be obliged to establish the cooperation where the conditions set out in this regulation are met. The conditions under which representatives of the competent authorities of the Member States which established a close co-operation take part to the activities of the Supervisory Board should allow the greatest possiblefull involvement of those representatives taking into account the limits following from the Statute of ESCB and of the ECB, in particular as regards the integrity of its decision making process.
Amendment 308 #
Proposal for a regulation
Recital 33
Recital 33
(33) In its decision-making procedures, the ECB should be boundAs an institution established by the Treaty on the Functioning of the European Union the ECB is an institution of the Union as a whole. Therefore it should be bound in its decision-making procedures by Union rules and general principles on due process and transparency. The right of the addressees of the ECB's decisions to be heard should be fully respected.
Amendment 317 #
Proposal for a regulation
Recital 34
Recital 34
(34) The conferral of supervisory tasks implies a significant responsibility for the ECB to safeguard financial stability in the Union, and to use its supervisory powers in the most effective and proportionate way. The ECB should therefore be accountable for the exercise of these tasks towards the European Parliament and the Council of Ministers respectively the Eurogroup as democratically legitimised institutions representing the European people and the Member States. That should include regular reporting and responding to questions. Where national supervisors take action under this Regulation, accountability arrangements provided under national law should continue to apply.
Amendment 339 #
Proposal for a regulation
Recital 36
Recital 36
(36) In particular, a supervisory board responsible for preparing decisions on supervisory matters should be set up with the ECB encompassing the specific expertise of national supervisors. The board should therefore be chaired by a Chair and a Vice-Chair elected by the ECB Governing Council and composed, in addition, of representatives from the ECB and from national authorities. In order to allow for an appropriate rotation while ensuring the full independence of thecomposition of the supervisory board should respect the principles of balance of knowledge, skills, gender, diversity and experience. The board should include representatives from the ECB, EBA, the European Parliament, and from national authorities. In addition, the supervisory board should include an executive committee comprising a Chair, Vice- Chair and three directors, all appointed by the Governing Council. The Chair and the Vice Chair of the executive committee should serve as Chair and the Vice- Chair, of their term should not exceed five years and should not be renewable supervisory board respectively. No member of the executive committee should have been a member of the executive board of the ECB for 10 years prior to appointment and the members should be selected following an open selection procedure and after three candidates have been presented to the European Parliament for approval. The approval procedure should include a public hearing in the European Parliament. In order to ensure full coordination with the activities of the EBA and with the prudential policies of the Union, the EBA and the European Commission should be observers in the supervisory board. The performance of the supervisory tasks conferred upon the ECB requires the adoption of a large number of technically complex acts and decisions, including decisions on individual credit institutions. In order to effectively carry out those tasks in accordance with the principle of separation from tasks relating to monetary policy, the ECB Governing Council of the ECB should be able to delegate certain clearly defined supervisory tasks and related decisions to the supervisory board, subject to the oversight and responsibility of the Governing Council, which can give instructions and directions to that body. The supervisory board may be supported by a steering committee with a more limited composition.
Amendment 369 #
Proposal for a regulation
Recital 41
Recital 41
(41) Given the globalisation of banking services and the increased importance of international standards, the ECB should carry out its tasks in respect of international standards and in dialogue and close cooperation with supervisors outside the Union, without duplicaunder the guidance of and only complementing the international role of the EBA. It should be empowered to develop contacts and enter into administrative arrangements with the supervisory authorities and administrations of third countries and with international organisations, subject to endorsement by and coordination with the EBA and while fully respecting the existing roles and respective competences of the Member States and the Union institutions
Amendment 393 #
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47a) A supervisory mechanism based on Article 127(6) of the Treaty necessarily imposes constraints in terms of participation of Member States in the ultimate decision making, the single market, democratic accountability, the scope of tasks and institutions covered by such a mechanism, particularly with regard to mixed financial holding companies including insurance, the relationship between supervisory rule making by the European Banking Authority and day to day supervision by competent authorities and potential conflicts with monetary policy objectives. In order to achieve a truly effective single supervisory mechanism that includes all Member States on an equal basis it is indispensible that the Council and the Commission give full consideration, prior to the publication of the review of Regulation (EU) No 1093/2010, which is due by 2 January 2014, to the timely introduction of proposals entrusting an independent Union body with implementing powers, the exercise of which it should be able to delegate to competent authorities, with regard to all aspects of prudential rules concerning all credit institutions established in the Union, using the legal acts provided for under Articles 114 and 352 TFEU and 20 TEU if necessary, in the absence of which an amendment of the TFEU remains the only option.
Amendment 399 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation confers on the ECB specific tasks concerning policies relating to the prudential supervision of credit institutions, with a view to promoting the safety and soundness of credit institutions and other financial institutions with the exception of insurance undertakings and the stability of the financial system, with due regard for the unity and integrity of the internal market and the pluralistic nature of the European banking industry. By the application of this Regulation the ECB shall respect especially the business model of small credit institutions which interact closely with the local economy and focus mainly on the socially most vital parts such as deposit-taking and providing financial services to the non-financial sectors in the economy.
Amendment 410 #
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
The objective of the ECB with regard to this regulation shall be to protect the public interest by contributing to the short, medium and long-term stability and effectiveness of the financial system, for the Union economy, its citizens and businesses. The ECB therefore shall contribute to: (a) improving the functioning of the internal market, including, in particular, a sound, effective and consistent level of regulation and supervision; (b) ensuring the integrity, transparency, efficiency and orderly functioning of financial markets; (c) strengthening the integration of the ECB into the System of European Supervisory Authorities; (d) strengthening international supervisory coordination; (e) preventing regulatory arbitrage and promoting equal conditions of competition; (f) ensuring the taking of credit and other risks are appropriately regulated and supervised; and (g) enhancing customer protection. In the exercise of the tasks conferred upon it by this Regulation, the ECB shall pay particular attention to any systemic risk posed by financial institutions, the failure of which may impair the operation of the financial system or the real economy.
Amendment 421 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
(3) ‘credit institutions’ means credit institutions as defined in Article 4(1) of Directive 2006/48/EC, CCPs as defined in Article 2 Point 1 of Regulation EU 648/2012 and the European Investment Bank. With regard to Article 4 Paragraph 1 Point (c) of this Regulation, Investment Firms as defined under Article 4 Paragraph 1 Point 1 of Directive 2004/39/EC shall be treated as credit institutions;
Amendment 439 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
The ECB shall carry out the tasks conferred upon it by this regulation, in conformity to the decisions of the EBA and the Single Rule Book and Single Supervisory Handbook developed by the EBA to harmonise supervisory practice throughout the Union. The ECB may develop a Supervisory Handbook for the competent authorities included in the Supervisory Mechanism created by this regulation to further specify supervisory practice within that mechanism subject to the EBA's approval.
Amendment 443 #
Proposal for a regulation
Article 3 – paragraph 1 b (new)
Article 3 – paragraph 1 b (new)
The ECB shall, in cooperation with the competent authorities included in the mechanism established by this regulation, develop and enforce clear and effective procedures for cooperation in relation to supervisory tasks for which those competent authorities remain exclusively competent.
Amendment 455 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The ECB shall, in accordance with the relevant provisions of Union law, be obliged and exclusively competent to carry out, for prudential supervisory purposes without delay, the following tasks in relation to all credit institutions established in the participating Member States or the non participating Member States referred to in Article 6:
Amendment 484 #
Proposal for a regulation
Article 4 – paragraph 1 – point h
Article 4 – paragraph 1 – point h
(h) To carry outfacilitate supervisory stress-tests on credit institutions carried out by EBA and to support the supervisory review;
Amendment 509 #
Proposal for a regulation
Article 4 – paragraph 1 – point l
Article 4 – paragraph 1 – point l
(l) To coordinate and express a common position of representatives from competent authorities of the participating Member States when participating in the Board of Supervisors and the Management Board of the European Banking Authority, for issues relating to the tasks conferred on the ECB by this Regulation.
Amendment 513 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. The ECB shall exercise the tasks set out in paragraph 1 in relation to credit institutions established in the participating Member States and Member States referred to in Article 6 which fall in one of the following categories: (a) credit institutions, financial holding companies or mixed financial holding companies which have received or requested public financial assistance, such as any kind of loan, guarantee or equity; (b) the most significant credit institutions, financial holding companies and mixed financial holding companies of European or global systemic importance at the highest level of consolidation, categorised in a manner fully consistent with [CRD4], based on: (i) their size as reflected in, the sum of exposure values of all assets and off- balance sheet liabilities not deducted when determining the common equity tier 1 capital for regulatory purposes; (ii) the systemic risk for the domestic economy concerned, expressed as the percentage of assets of a bank divided by GDP of its home country; and (iii) their cross-border activity as reflected in cross-jurisdictional claims such as deposits and other assets in respect of customers or other financial operators located in another country and cross- jurisdictional liabilities such as loans and notes in respect of customers or other financial operators located in another country, and which together cover at least half of the banking sector in the euro area as a whole and in each Member State. The ECB shall give notice to each credit institution about the supervisory arrangements to which it is subject.
Amendment 519 #
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
1b. For institutions established in the participating Member States or Member States referred to in Article 6 that do not fulfil the conditions set out under Paragraph 1a point (b), the ECB will establish the necessary procedures to obtain adequate and timely information on the condition of those institutions and the systemic risk they represent from the relevant competent authority. The ECB may decide to exercise the tasks set out in paragraph 1 where it deems it necessary to meet the prudential objectives set out in Article 1. When the ECB makes a decision to this effect, it shall notify the national competent authority and the credit institution concerned and publish the reasons for that decision.
Amendment 528 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. Subject to and in compliance with any relevant Union law rule and in particular any legislative and non-legislative act, the ECB may, adopt regulations anddressed to institutions under its supervision and to competent authorities, adopt recommendations and take decisions to implement or apply Union law, to the extent necessary to carry out the tasks conferred upon it by this Regulation. If deemed necessary the ECB shall address a proposal for regulatory technical standards or implementing technical standards to EBA. On its own initiative or on request of the European Parliament the ECB shall provide advice to the European Parliament.
Amendment 534 #
Proposal for a regulation
Article 4 – paragraph 4 a (new)
Article 4 – paragraph 4 a (new)
4a. In addition to its exclusive competences conferred to it by paragraph 1, the ECB shall ensure a high level of consumer protection and the implementation and application of the legal acts referred to in Article 1(2) of Regulation (EU) No 1093/2010 in all participating Member States and the non participating Member States referred to in Article 6.
Amendment 535 #
Proposal for a regulation
Article 4 – paragraph 4 b (new)
Article 4 – paragraph 4 b (new)
4b. Additional tasks may be conferred upon the ECB by secondary legislation or by decision of participating Member States or Member States that have opted for close cooperation pursuant to Article 6, in accordance with national law.
Amendment 635 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
Amendment 661 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
Without prejudice to the respective competences of the Member States and the other Union institutions, in relation to the tasks conferred on the ECB by this Regulation, the ECB may develop contacts and enter into administrative arrangements with supervisory authorities, international organisations and the administrations of third countries, subject to appropriate coordination with and endorsement by the EBA. Those arrangements shall not create legal obligations in respect of the Union and its Member States.
Amendment 674 #
Proposal for a regulation
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
2a. Where not inappropriate, the ECB shall before taking a decision inform any named addressee of its intention to adopt the decision, setting a time limit within which the addressee may express its views on the matter, taking full account of the urgency, complexity and potential consequences of the matter. Every decision of the ECB to institutions under its supervision shall be accompanied with the relevant information on the possibilities of contestation and appeal.
Amendment 697 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. In order to carry out the tasks conferred upon it by this Regulation, the ECB may conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 9(1) (a) to (g), in accordance with Article 12. Where the proper conduct and efficiency of the inspection so require, the ECB may carry out the on-site inspection without prior announcement.
Amendment 737 #
Proposal for a regulation
Article 14 – paragraph 2 a (new)
Article 14 – paragraph 2 a (new)
2a. In fulfilling its task as defined in Article 4 the ECB shall respect a fair balance between the home and host rights of participating Member States. In particular the ECB shall take into account the following considerations with regard to the Member States concerned: i) the preservation of financial stability; ii) the stability of the supply of credit; iii) macro-economic conditions.
Amendment 741 #
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. For the purpose of carrying out the tasks conferred upon it by this Regulation, where credit institutions, financial holding companies, or mixed financial holding companies, intentionally or negligibly, breach a requirement under directly applicable Union acts in relation to which administrative pecuniary sanctions shall be available to competent authorities under Union law, the ECB may impose administrative pecuniary sanctions of up to twiceeight times the amount of the profits gained or losses avoided because of the breach where those can be determined, or up to 10% of the total annual turnover of a legal person in the preceding business year.
Amendment 760 #
Proposal for a regulation
Article 15 a (new)
Article 15 a (new)
Article 15 a Appeal 1. Any natural or legal person, including competent authorities, may appeal against a decision of the ECB in accordance with this Regulation, which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person. 2. The appeal, together with a statement of grounds, shall be filed in writing at the EBA within 2 months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day on which the Authority published its decision. The EBA shall decide upon the appeal within 2 months after the appeal has been lodged if it considers the challenged decision as a breach of Union law. In that case EBA shall address a decision to the ECB to revoke its decision. 3. An appeal lodged pursuant to paragraph 1 shall not have suspensive effect.
Amendment 764 #
Proposal for a regulation
Article 15 b (new)
Article 15 b (new)
Article 15b Actions before the Court of Justice of the European Union 1. Member States and the Union institutions, as well as any natural or legal person, may institute proceedings before the Court of Justice of the European Union against decisions of the ECB, in accordance with Article 263 TFEU. 2. Before proceedings against decisions of the ECB are brought before the Court of Justice of the European Union in accordance with Article 263 TFEU the person affected by the decision has to try to solve the case by an appeal pursuant to Article 15a. Only when an appeal pursuant to Article 15a was not possible or successful proceedings contesting a decision taken by the ECB may be brought before the Court of Justice of the European Union. 3. In the event that the ECB has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall be required to take the necessary measures to comply with the judgment of the Court of Justice of the European Union.
Amendment 769 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. When carrying out the tasks conferred upon it by this Regulation, the ECB shall act independently. This independence shall be without prejudice to the ECB's obligation to abide by the decisions of the EBA and its accountability referred to in Article 17.
Amendment 774 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Union institutions, bodies, offices and agencies and the governments of the Member States shall respect thate ECB's independence as referred to in paragraph 1.
Amendment 783 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Reporting of Violations The ECB shall ensure that effective mechanisms are put in place to encourage reporting of breaches of this Regulation to the Commission, including at least specific procedures for the receipt of reports of breaches and their follow-up. Such procedures shall ensure that the following principles are complied with: (a) appropriate protection, including full anonymity, for persons who report potential or actual breaches, in particular and without prejudice to national provisions regulating judicial proceedings, the confidentiality of the identity of those persons during all stages of the procedure; (b) protection of personal data concerning both the person who reports the potential or actual breaches and the accused person in compliance with the principles laid down in Directive 95/46/EC; (c) appropriate protection for the accused person; and (d) appropriate protection from adverse treatment at work for, and provision of legal assistance to, both the person who reports and the accused person. The Commission shall adopt, by means of delegated acts measures to specify the procedures referred to in the first subparagraph, including the modalities of reporting and the modalities for following-up of reports and the measures for the protection of persons.
Amendment 786 #
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
2. The ECB shall carry out the tasks conferred upon it by this Regulation separately from its tasks relating to monetary policy and from any other tasks. The tasks conferred upon the ECB by this regulation shall not interfere with the ECB's tasks relating to monetary policy and any other tasksand the ECB's tasks relating to monetary policy and any other tasks shall not interfere with each other. The ECB shall establish the necessary procedures for the identification and resolution of any conflict that may arise between its monetary and supervisory tasks. These procedures shall take into account the monetary objectives of the Euro area as well as the stability of the financial system of the entire Union and the Single Market.
Amendment 790 #
Proposal for a regulation
Article 18 – paragraph 2 a (new)
Article 18 – paragraph 2 a (new)
2a. Concerning the task conferred on the ECB by this Regulation a separate supervision unit shall be established within the ECB. It shall be organisationally independent from the rest of the ECB and it shall have a separate budget line under the budget of the Commission.
Amendment 796 #
Proposal for a regulation
Article 19 – title
Article 19 – title
Supervisory board and Executive Committee
Amendment 803 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The decisions concerning the planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of fourtwo representatives of the ECB appointed by the Executive Board of the ECB and one representative of the national authority competent for the supervision of credit institutions in each participating Member State and one of each Member State that has opted for close cooperation pursuant to Article 6, and the Chair of the European Banking Authority (hereinafter ‘'supervisory board’'). The composition of the supervisory board shall respect the principles of balance of knowledge, skills, gender, diversity and experience.
Amendment 815 #
Proposal for a regulation
Article 19 – paragraph 1 a (new)
Article 19 – paragraph 1 a (new)
1a. The decisions concerning execution and planning pursuant to Article 1 shall be deemed adopted unless and until the Governing Council provides to the supervisory board, and publishes, a written and reasoned objection.
Amendment 824 #
Proposal for a regulation
Article 19 – paragraph 2
Article 19 – paragraph 2
2. In addition, the supervisory board shall include a Chair elected by the members of the Governing Council from the members, with the exception of the President,n executive committee comprising a Chair, Vice-Chair and three directors, all appointed by the Governing Council. The Chair and the Vice Chair of the executive committee shall serve as Chair and Vice Chair of the supervisory board respectively. The members of the executive committee shall not have been members of the Eexecutive Board, and a Vice-Chair elected by and from the members of the Governing Council of the ECBboard of the ECB for 10 years and shall be selected following an open selection procedure, and after three candidates for each post, not all of the same gender, have been presented to the European Parliament for approval. The approval procedure shall include a public hearing in the European Parliament. The members of the executive committee shall be appointed for a 5 year term. The Supervisory Board and the European Parliament shall have the possibility to revoke the appointment of the members of the executive committee.
Amendment 830 #
Proposal for a regulation
Article 19 – paragraph 2 a (new)
Article 19 – paragraph 2 a (new)
Amendment 843 #
Proposal for a regulation
Article 19 – paragraph 4
Article 19 – paragraph 4
Amendment 849 #
Proposal for a regulation
Article 19 – paragraph 5
Article 19 – paragraph 5
Amendment 855 #
Proposal for a regulation
Article 19 – paragraph 6
Article 19 – paragraph 6
6. The Chair of the European Banking Authoritycompetent committee of the European Parliament and a member of the European Commission may participate as observers in the meetings of the supervisory board.
Amendment 875 #
Proposal for a regulation
Article 19 a (new)
Article 19 a (new)
Article 19a Parliamentary Board A board shall be established comprising ten members of the competent committee of the European Parliament whose role shall be to observe the planning and execution of the tasks conferred upon the ECB by this Regulation. To this end, the board may submit written contributions to the supervisory board and conduct regular dialogue with the Executive Committee.
Amendment 880 #
Proposal for a regulation
Article 21 – title
Article 21 – title
Reporting and Inquiry
Amendment 897 #
Proposal for a regulation
Article 21 – paragraph 4
Article 21 – paragraph 4
4. The ECB shall reply orally or in writing to questions put to it by the European Parliamentparliaments of the participating Member States and of Members States having opted for close cooperation pursuant to Article 6, the European Parliament, individual Members of the European Parliament, or by the Eurogroup.
Amendment 902 #
Proposal for a regulation
Article 21 – paragraph 4 a (new)
Article 21 – paragraph 4 a (new)
4a. This Regulation is without prejudice to the right of the European Parliament to set up a temporary Committee of Inquiry to investigate alleged contraventions or maladministration in the implementation of Union law pursuant to Article 226 TFEU.
Amendment 906 #
Proposal for a regulation
Article 21 – paragraph 4 b (new)
Article 21 – paragraph 4 b (new)
4b. The European Parliament may on its own initiative commission an independent investigation into any aspect of the execution by the ECB of the tasks conferred upon it by this Regulation.
Amendment 909 #
Proposal for a regulation
Article 22 – paragraph 1 a (new)
Article 22 – paragraph 1 a (new)
1a. An ECB official assigned to perform tasks pursuant to this Regulation shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits. Officials intending to engage in an occupational activity, whether gainful or not, within two years of leaving the service shall inform the ECB thereof. If that activity is related to the work carried out by the official during the last three years of service and could lead to a conflict with the legitimate interests of the ECB, the ECB may, having regard to the interests of the service, either forbid him or her from undertaking it or give its approval subject to any conditions it thinks fit. The ECB shall notify its decision within 30 working days of being so informed. If no such notification has been made by the end of that period, this shall be deemed to constitute implicit acceptance.
Amendment 911 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. The ECB's expenditure for carrying out the tasks conferred upon it by this Regulation shall be entered into a separate section of the budget of the ECBCommission.
Amendment 912 #
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
2. The ECB shall, as part of the report referred to in Article 22, report in detail on the supervisory section of itsthe budget of the supervision unit. It shall publish the detailed annual accounts in relation to the supervisory section of its budget in accordance with Article 26.2 of the Statute of the ECB and of the ESCBof that budget.
Amendment 914 #
Proposal for a regulation
Article 24 – paragraph 1
Article 24 – paragraph 1
1. The ECB shall levy fees on credit institutions which shall cover expenditures relating to its tasks, and not exceed those expenditures.
Amendment 919 #
Proposal for a regulation
Article 24 – paragraph 2 a (new)
Article 24 – paragraph 2 a (new)
2a. The fees levied shall be transferred to the EU Budget. The total amount shall be disclosed, and serve as assigned revenue for the execution of the tasks conferred by this Regulation.
Amendment 922 #
Proposal for a regulation
Article 25 – paragraph -1 (new)
Article 25 – paragraph -1 (new)
-1. The ECB shall foster a common supervisory culture amongst all participating Member States and those which have established close cooperation pursuant to Article 6. Therefore it shall: - ensure an appropriate exchange and secondment of staff with and among national competent authorities; - facilitate the possibility for staff to take different posts in the same competent authority or another competent authority; - ensure regular rotation of staff within all competent authorities with regard to this Regulation, including within the ECB supervision unit.
Amendment 923 #
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
Amendment 933 #
Proposal for a regulation
Article 26 – title
Article 26 – title
Amendment 937 #
Proposal for a regulation
Article 26 – paragraph 1 – introductory part
Article 26 – paragraph 1 – introductory part
Amendment 941 #
Proposal for a regulation
Article 26 – paragraph 1 – point a
Article 26 – paragraph 1 – point a
Amendment 944 #
Proposal for a regulation
Article 26 – paragraph 1 – point b
Article 26 – paragraph 1 – point b
Amendment 945 #
Proposal for a regulation
Article 26 – paragraph 1 – point c
Article 26 – paragraph 1 – point c
Amendment 948 #
Proposal for a regulation
Article 26 – paragraph 1 – point d
Article 26 – paragraph 1 – point d
Amendment 951 #
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2