7 Amendments of Sven GIEGOLD related to 2012/2037(INI)
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for supervisory authorities to require financial institutions to be required to provide consumers with adequate information regarding the risks involved in foreign currency lending and the impact on instalments of a severe depreciation of the legal tender of the Member State in which a consumer is domiciled and of an increase of the foreign interest rate; considers that this information should be included in any advertising concerning consumer credit agreements in foreign currency, in pre- contractual information, and in consumer credit agreements;
Amendment 6 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls for a revision of provisions relating to the Annual Percentage rate of Charge in Directive 2008/48/EC to more adequately reflect the characteristics of foreign currency and variable rate lending;
Amendment 14 #
Draft opinion
Paragraph 2
Paragraph 2
2. Calls for supervisory authorities to require financial institutions to allow foreign currency loans to be granted only to consumers that demonstrate their creditworthiness, taking into account the repayment structure of the loan and the consumers' capacity to withstand adverse shocks in exchange rates and in the foreign interest rate and applying more stringent debt service to income and loan to value ratios;
Amendment 25 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for consumers to have a right to buy auxiliary services such as insurance from alternative suppliers; Considers that financial institutions should be required to distinguish such services and related charges from those pertaining to the basic loan and to make clear which services are essential to the extension of a loan and which are entirely at the discretion of the borrower;
Amendment 29 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls for supervisory authorities to require financial institutions to have effective internal and external pricing, capital allocation and liquidity management systems that incorporate the risks related to foreign currency lending and to require additional capital to be held for such risks wherever necessary;
Amendment 31 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Calls for supervisory authorities to closely monitor the funding and liquidity risks resulting from foreign currency lending by institutions and to take effective action to prevent such risks reaching excessive levels;
Amendment 32 #
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Calls for a revision of Directive 2008/48/EC integrating it and Directive [CARRP] into a single Directive.