16 Amendments of Herbert DORFMANN related to 2023/0115(COD)
Amendment 89 #
Proposal for a directive
Recital 3
Recital 3
(3) To support further convergence of DGSs’ practices and assist DGSs in testing their resilience, the European Banking Authority (EBA) should issuereview and, where necessary, update its guidelines on the performing of stress tests of DGS’ systems on a regular basis.
Amendment 93 #
Proposal for a directive
Recital 5
Recital 5
(5) The range of depositors that are currently protected through repayment by a DGS is motivated by the wish to protect non-professional investors, while professional investors are deemed not to need such protection. For that reason, public authorities shave been excluded from coverage. However, most public authorities (which in some Member States include schools and hospitals) cannot be considered to be professional investors. It is therefore necessary to ensure that deposits of all non-professional investors, including public authorities, can benefit from the protection offered by a DGSll remain excluded from coverage.
Amendment 97 #
Proposal for a directive
Recital 16
Recital 16
(16) Article 9 of Directive 2014/49/EU provides that where a DGS makes payments in the context of resolution proceedings, the DGS should have a claim against the credit institution concerned for an amount equal to its payments and that claim should rank pari passu with covered deposits. That provision does not distinguish between a DGS’s contribution when an open-bank bail-in tool is used, and DGS’s contribution to the financing of a transfer strategy (sale of business or bridge institution tool) followed by liquidation of the residual entity. To ensure clarity and legal certainty with respect to the existence and amount of a DGS’s claim in different scenarios, it is necessary to specify that when the DGS contributes to support the application of the sale of business tool or of the bridge institution tool, or alternative measures, whereby a set of assets, rights and liabilities, including deposits, of the credit institution are transferred to a recipient, that DGS should have a claim against the residual entity in its subsequent winding-up proceedings under national law. To ensure that the shareholders and creditors of the credit institution left behind in the residual entity effectively absorb the losses of that credit institution and improve the possibility of repayments in insolvency to the DGS, the DGS claim should have the same ranking as thecovered depositors’ claims. In case the open bank bail-in tool is applied (i.e., the credit institution continues its operations), the DGS contributes in the amount by which covered deposits would have been written down or converted to absorb the losses in that credit institution, had covered deposits been included within the scope of bail-in. Therefore, the DGS’s contribution should not result in a claim against the institution under resolution as it would eliminate the purpose of the DGS’s contribution.
Amendment 113 #
Proposal for a directive
Recital 23
Recital 23
Amendment 143 #
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point c
Article 1 – paragraph 1 – point 2 – point c
Directive 2014/49/EU
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
(20) ‘client funds deposits’ means funds that account holders that are financial institutions as defined in Article 4(1), point (26), of Regulation (EU) No 575/2013 deposit in the course of their business in scope of Directive (EU) 2015/2366, Directive 2009/110/EC and Commission Delegated Directive (EU) 2017/593 with a credit institution for the account of their clients;
Amendment 148 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point c
Article 1 – paragraph 1 – point 3 – point c
Directive 2014/49/EU
Article 4 – paragraph 5
Article 4 – paragraph 5
Amendment 153 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a – point iii
Article 1 – paragraph 1 – point 4 – point a – point iii
Directive 2014/49/EU
Article 5 – paragraph 1 – point e
Article 5 – paragraph 1 – point e
Amendment 155 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a – point v
Article 1 – paragraph 1 – point 4 – point a – point v
Directive 2014/49/EU
Article 5 – paragraph 1 – point j
Article 5 – paragraph 1 – point j
Amendment 160 #
Proposal for a directive
Article 1 – paragraph 1 – point 5 – point a – point ii
Article 1 – paragraph 1 – point 5 – point a – point ii
Directive 2014/49/EU
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) deposits resulting from real estate transactions relating to private residential properties and deposits intended for such transactions, provided that those transactions are concluded in the short terma three months period by a natural person, and provided that that natural person can provide documents proving such transaction;;
Amendment 171 #
Proposal for a directive
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Directive 2014/49/EU
Article 9 – paragraph 2
Article 9 – paragraph 2
2. Without prejudice to rights they may have under national law, DGSs that make payments under guarantee within a national framework shall have the right of subrogation to the rights of depositors in winding up or reorganisation proceedings for an amount equal to the DGSs payments made to depositors. DGSs that make a contribution in the context of the resolution tools referred to in Article 37(3), point (a) or (b), of Directive 2014/59/EU, or in the context of measures taken in accordance with Article 11(5) of this Directive, shall have a claim against the residual credit institution for any loss incurred as a result of any contributions made to resolution pursuant to Article 109 of Directive 2014/59/EU or to the transfer made pursuant to Article 11(5) of this Directive in connection to losses which depositors otherwise would have borne. That claim shall rank at the same level as covered deposits under national law governing normal insolvency proceedings.
Amendment 197 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3
Article 11 – paragraph 3
3. Notwithstanding paragraph 3a, Member States may allow DGSs to use the available financial means for preventive measures as referred to in Article 11a for the benefit of a credit institution where all of the following applies:
Amendment 210 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3a (new)
Article 11 – paragraph 3a (new)
3a. Member States may allow IPSs which are officially recognised as a DGS according to Article 4(2) to use the available financial means for preventive measures for the benefit of a credit institution where: (a) the resolution authority has not taken any resolution action under Article 32 of Directive 2014/59/EU; (b) the DGS is a system certified according to Article 133(7) of Regulation (EU) No 575/2013; (c) all of the conditions laid down in Articles 11f are met.
Amendment 217 #
Proposal for a directive
Article 1 – paragraph 1 – point 13 – introductory part
Article 1 – paragraph 1 – point 13 – introductory part
(13) the following Articles 11a to 11ef are inserted:
Amendment 306 #
Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)
Article 1 – paragraph 1 – point 13 a (new)
Directive 2014/49/EU
Article 11f (new)
Article 11f (new)
(13a) the following Article 11f is inserted: Preventive measures by IPSs 1. By way of derogation from Articles 11a to 11e, IPSs officially recognised as DGSs according to Article 4(2) may use the available financial means for preventive measures referred to in Article 11(3a) provided that the following conditions are met: (a) the credit institution requesting financing of the preventive measures shall be obliged to present a plan to ensure or restore compliance of the credit institution with the supervisory requirements set forth in Directive 2013/36/EU and Regulation (EU) No. 575/2013 in accordance with the conditions laid down in the statutory rules of the IPS as approved by the competent authority in accordance with Art. 113(7) of Regulation (EU) No. 575/2013; (b) the competent authority has been consulted by the IPS on the preventive measures and the conditions imposed on the supported credit institution; (c) the use of preventive measures by the IPS is linked to conditions imposed on the supported credit institution, involving at least more stringent risk monitoring of the credit institution and greater verification rights for the IPS; (d) the use of preventive measures by the IPS is conditional on the credit institution’s commitments to secure access to covered deposits; (e) the ability of the affiliated credit institutions to pay the extraordinary contributions in accordance with Article 11(4) is confirmed; and (f) the costs of the measures do not exceed the costs of fulfilling the IPS’s statutory or contractual mandate which is recognised as fulfilling the criteria laid down in Art. 113(7) of Regulation (EU) No. 575/2013. 2. Member States shall ensure that IPSs have monitoring systems and appropriate procedures in place for selecting and implementing preventive measures and monitoring affiliated risks. 3. Such preventive measures carried out by an IPS shall not lead to the determination that the credit institution is failing or is likely to fail in the sense of Article 32(1) of Directive 2014/59/EU or Article 18(1) of Regulation (EU) 806/2014.
Amendment 320 #
Proposal for a directive
Article 1 – paragraph 1 – point 17 – point c
Article 1 – paragraph 1 – point 17 – point c
Directive 2014/49/EU
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member States shall ensure that credit institutions provide the information sheet referred to in paragraph 1 before they enter into a contract on deposit-taking and, subsequently, annually. Depositors shall acknowledge the receipt of that information sheet.;
Amendment 329 #
Proposal for a directive
Article 1 – paragraph 1 – point 18
Article 1 – paragraph 1 – point 18
Directive 2014/49/EU
Article 16a – paragraph 6
Article 16a – paragraph 6
6. Member States shall ensure that the resolution authorities of the credit institutions which are a member of a DGSs provide that DGS, upon request, once a year with the summary of the key elements of the resolution plans as referred to in Article 10(7), point (a), of Directive 2014/59/EU, provided that such information is necessary for the DGS and designated authorities to exercise the obligations referred to in Article 11(2), (3) and (5) and in Article 11e.