6 Amendments of Pablo ZALBA BIDEGAIN related to 2013/0253(COD)
Amendment 110 #
Proposal for a regulation
Recital 11
Recital 11
(11) A single bank resolution fund (hereinafter referred to as the ‘Fund’) is an essential element without which a single resolution mechanism could not work properly. Different systems of national funding would distort the application of uniform bank resolution rules in the internal market. The Fund should help to ensure a uniform administrative practice in the financing of resolution and to avoid the creation of obstacles for the exercise of fundamental freedoms or the distortion of competition in the internal market due to divergent national practices. The Fund should be financed directly by banks and should be pooled at Union level so that the resolution resources can be objectively allocated across Member States thus increasing financial stability and limiting the link between the perceived fiscal position of individual Member States and the funding costs of banks and undertakings operating in those Member States. In order to preserve the legal basis provided by article 114 TFEU, and to further break that link, there should be a prohibition against the decisions of the Single Resolution Mechanism impinging directly on the fiscal responsibilities of the Member States.
Amendment 207 #
Proposal for a regulation
Recital 58 a (new)
Recital 58 a (new)
(58a) However, it is justified to use the Fund before exhausting all the creditors when, in the resolution process, preferred deposits would start to be bailed-in. The trust of citizens that their savings will be safe in absolutely risk-free deposits that have a correspondingly low return is a cornerstone of the overall confidence in the banking system. Protecting deposits is doubtless one of the critical functions of banks, and the lack of confidence in the safety of preferred deposits could have the potential to provoke a bank run; a phenomenon with disastrous effects on financial stability. Thus, safeguarding these preferred deposits in the resolution process pursues resolution objectives, therefore deserving a particular effort.
Amendment 211 #
Proposal for a regulation
Recital 61 a (new)
Recital 61 a (new)
(61a) To ensure the immediate availability of adequate financial means for the purposes established in this Regulation, a loan facility should be established, preferably from a Community public instrument. Full availability of funding is essential for the credibility of the whole system.
Amendment 733 #
Proposal for a regulation
Article 31 – paragraph 1
Article 31 – paragraph 1
Non-binding cooperation arrangements shall include provisions on coordination and cooperation procedures between the Single Resolution Board and third- country host authorities represented in Crisis Management Groups on the following matters: (a) the exchange of information necessary for the preparation, development and maintenance of resolution plans; (b) the exchange of information necessary for the application of resolution tools and exercise of resolution powers and similar powers under the law of the relevant third countries; (c) early warning to or consultation of parties to the cooperation arrangement before taking any significant action under this Regulation or relevant third country law affecting the institution or group to which the arrangement relates; (d) the coordination of public communication in case of joint resolution actions; (e) coordination, cooperation and exchange of information under points (a) to (d) shall be subject to strict confidentiality standards.
Amendment 917 #
Proposal for a regulation
Article 64 – paragraph 2 a (new)
Article 64 – paragraph 2 a (new)
2a. The Fund shall be complemented with a loan facility preferably from a Community public instrument, to ensure the immediate availability of adequate financial means for the purposes of this Regulation. Any loan from that loan facility shall be reimbursed by the Fund within an agreed timeframe.
Amendment 991 #
Proposal for a regulation
Article 71 – paragraph 1 a (new)
Article 71 – paragraph 1 a (new)
1a. The Board shall use the Fund to support any of the actions referred to in paragraph 1(a) to (g) where, in the resolution process, the bail-in of preferred deposits would be necessary, within the limits established in the BRRD.