285 Amendments of Sławomir NITRAS

Motion for a resolution
Recital P

~~P. whereas the ESAs refrain from certain necessary requests for information in anticipation of a rejection in their Boards of Supervisors;~~deleted

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – introductory part

The European System of Financial Supervision should be further ~~adapted to~~enhanced and take into account the existence of the SSM as follows:

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 1

– Enhance the mandate for the all ESAs for binding and non-binding mediation especially with regard to the ECB ~~and delete Recital 32 which is misleading on the mandate for non-binding mediation~~;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 2

~~– Give the ESAs the possibility to trigger binding and non-binding mediation on their own initiative;~~deleted

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 4

– Ensure that the ESAs, ~~national supervisory authorities~~ and the ECB have access to the same supervisory information which has to be provided where possible in a common format which has to be determined by the ESAs;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 5

~~– Establish the ESRB outside the ECB to avoid the arising conflicts of interest between micro-prudential supervision and macro-economic oversight.~~deleted

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 2

– enhancing the powers of the chairpersons of all three ESAs to take technical and operational decisions or to request information from other supervisory authorities without requiring consent by the respective Boards of Supervisors;deleted

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 5

~~– taking account of the size of Member States when reviewing the voting rights on the boards of supervisors and introducing simple majority voting for all decisions within the ESAs;~~deleted

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11

~~– revising the structure of the ESRB to allow swifter decision-making and stronger accountability by establishing a systemic stability council with a limited number of members;~~deleted

2014/01/15
Committee: ECON

2013/2047(INI)

Motion for a resolution
Paragraph 11 a (new)

11a. Given the crucial role of the CCPs to local markets, relevant national authorities should have legal instruments to intervene in an ailing central counter- party when no other solution is possible. The appropriate policy response, respecting the principle of subsidiarity, should be to adopt a set of non-binding guidelines that would assist the Member States complement their national resolution regimes. If national legal systems prove generally unfitted to effective handling of crisis situation concerning CCPs, especially with an international dimension, then adoption of a directive could be considered. Anyway, such a directive should leave the Member States wide discretion which instruments to adopt with regard to institutions under their authority.

2013/09/03
Committee: ECON

2013/2021(INI)

Motion for a resolution
Recital I

I. whereas, since it is neither feasible nor desirable to effect a bank separation post- failure, an effective recovery and resolution regime is needed in order to provide authorities with a credible set of tools, including ~~a bridge bank~~legislation to split banks into separate investment and retail entities, so that they can intervene sufficiently early and quickly in an unsound or failing bank ~~to enable its essential financial and economic functions to continue~~, so that it would be possible to separate and if necessary shut down the investment entity without this having any adverse effects on purely banking-related activities, while minimising the impact on financial stability and ensuring that appropriate losses are imposed on the shareholders and creditors who bore the risk of investing in the institution in question, and not by taxpayers or depositors;

2013/04/18
Committee: ECON

2013/2021(INI)

Motion for a resolution
Paragraph 7

7. Considers that an effective banking system must deliver a change in banking culture in order to reduce complexity, enhance competition, limit interconnectedness between ~~risky and commercial~~investment and purely banking-related activities, improve corporate governance, create a responsible remuneration system, allow effective bank resolution and recovery, reinforce bank capital and deliver credit to the real economy;

2013/04/18
Committee: ECON

2013/2021(INI)

Motion for a resolution
Paragraph 12 – point b

(b) limits on the extent to which the two entities are reliant on each other for funding and/or resources; in particular, there should be no legal basis for shifting capital and liquidity from ring-fenced entities to other entities in the group, and vice versa;

2013/04/18
Committee: ECON

2013/2021(INI)

Motion for a resolution
Paragraph 12 – point d

(d) net and gross large exposure limits taking into account the operation of concentration limits for intra-group transactions between ring- fenced and non- ring-fenced activities, which are at least as strict as those for third-party exposure, including strict limits on the exposure of ring-fenced activities to the investment entity’s riskier activities, so as to guarantee the market-oriented nature of such transactions;

2013/04/18
Committee: ECON

2013/2021(INI)

Motion for a resolution
Paragraph 29 a (new)

29a. Notes that, in order to boost the competitiveness and stability of the European banking system, it is vital to address effectively the issue of systemically important financial institutions (i.e. those that are too big to fail), whose problems resulted in an escalation of the adverse effects of the financial crisis, by rationalising the scale of the activities of banking groups and by reducing dependency where groups are concerned;

2013/04/18
Committee: ECON

2013/0314(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point b a (new)

(ba) National statistical institutes designated in accordance with Regulation (EC) No 223/2009.

2013/12/19
Committee: ECON

2013/0314(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1 – introductory part

1) ‘index’ means any figure that fulfils all of the conditions below:

2013/12/19
Committee: ECON

2013/0314(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 11

11) ‘regulated data’ means input data, as well as data contained in current and periodic notifications published pursuant to the information obligations in place, that is contributed directly from a trading venue as defined in point (25) of paragraph 1 of Article 2 of [MIFIR] or approved publication arrangement as defined in point (18) of paragraph 1 of Article 2 of [MIFIR ] or an approved reporting arrangement as defined in point (20) of paragraph 1 of Article 2 of [MIFIR] in accordance with mandatory post trade data requirements or an electricity exchange as referred to in point (j) of paragraph 1 of Article 37 of Directive 2009/72/EC19 or a natural gas exchange as referred to in point (j) of paragraph 1 of Article 41 of Directive 2009/73/EC20 or an auction platform referred to in Article 26 or in Article 30 of Regulation (EU) No 1031/2010 of the European Parliament and of the Council; __________________ 19 OJ L 211, 14.8.2009, p. 55. 20 OJ L 9, 14.8.2009, p. 112. OJ L 9, 14.8.2009, p. 112.

2013/12/19
Committee: ECON

2013/0314(COD)

Proposal for a regulation
Article 10 – paragraph 1 a (new)

1a. Articles 7(1)(b), 8(1), 8(2) and 9 of this Regulation shall not apply if the administrator is an entity administering a regulated trading venue which, while making benchmarks available, utilises data from an internal transaction system and uses financial instruments for which the designated index is a reference and which are traded on a regulated market administered by that administrator.

2013/12/19
Committee: ECON

2013/0314(COD)

Proposal for a regulation
Article 25 – paragraph 2

2. Within 10 working days of any notification ESMA shall notify the relevant administrator of the benchmark providing full details of its use and requesting the administrator to confirm that it consents to this use of the benchmark within 10 working days. Until the moment when consent is confirmed, the administrator shall not be subject to the provisions of this regulation in respect of the benchmark.

2013/12/20
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Recital 23

(23) It is important to ensure that the provisions concerning the interchange fees to be paid or received by payment service providers are not circumvented by alternative flows of fees to issuing payment services providers. To avoid this, the "net compensation" of fees paid and received by the issuing payment service provider from a payment card scheme should be considered as the interchange fee. When calculating the interchange fee, for the purpose of checking whether circumvention is taking place the total amount of payments or incentives received by an issuing payment services provider from a payment card scheme with respect to the regulated transactions less the fees paid by the issuing payment services provider to the scheme should be taken into account. Payments, incentives and fees considered could be direct (i.e. volume- based or transaction-specific) or indirect (including marketing incentives, bonuses, rebates for meeting certain transaction volumes). In checking whether circumvention of the provisions of the regulation regulating the maximum amount of interchange fees is taking place, card issuers' profits resulting from special programmes carried out jointly by payment card issuers and payment card schemes and revenue from processing, licensing and other fees providing revenue to card organisations should, in particular, be taken into account.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Recital 25 a (new)

(25a) Member States should retain the possibility of waiving application of the rule requiring strict and total separation of payment card schemes and processing entities for newly established card schemes. Applying this rule to new schemes would impose high business costs on them from the outset which are disproportionate to their market position in relation to existing major card schemes. Preferences for newly established card organisations should help to promote competition in the non- cash payments market more effectively.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) 'issuer' means a payment service provider contracting directly or indirectly with a payer to initiate, process and settle the payer’s payment transactions, where the provider makes funds available to the payer through the use of a card as a payment instrument;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 3 a (new)

(3a) ‘payment card’ means a card (debit or credit) authorising cash payments to be made or enabling payment orders to be submitted through a merchant or an acquirer, and which the merchant accepts for the purpose of receiving the funds owed to him;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 4

(4) 'debit card transaction' means an card payment transaction included with prepaid cards linked to a current or deposit access account ~~to which a transaction is debited in less than or 48 hours after the transaction has been authorised/initiated~~and using funds previously deposited in the account.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 5

(5) 'credit card transaction' means an card payment transaction where the ~~transaction is settled more than 48 hours after the transaction has been authorised/initiated~~funds used have previously been made available by the payment card issuer in the form of credit;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6

(6) 'commercial card' means any payment cards issued to undertakings or public sector entities that are limited in use for business expenses of employees or civil servants or payment cards issued to self- employed natural persons engaged in a business activity ~~that are limited in use for business expen~~where the issuing of the card by the payment card issuer is linked to the payment card usesr o~~f those self-employed natural persons or their employees~~r another person obtaining additional economic benefits, in particular, insurance, rebates or bonuses, which increase the costs of processing a transaction carried out with the commercial card;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 8

(8) 'cross-border payment transaction' means a card payment or card-based payment transaction initiated by a payer or by a payee where the ~~payer’s payment service provider and the payee’s payment service provider are established in different Member States or where the~~ payment card is issued by an issuing payment service provider established in a different Member State than that of the point of sale;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 15 a (new)

(15a) ‘newly established payment card scheme’ means a card scheme established no more than two years from the submission of an application for exemption from the relevant provisions of Article 7;

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1

1. With effect from two ~~month~~years after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card- based transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % of the value of the transaction.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 3 – paragraph 2

2. With effect from two ~~month~~years after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card- based transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % of the value of the transaction.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 3 – paragraph 2 a (new)

2a. Any provisions in contracts or other types of agreement which rule out the applicability of paragraphs 2 or 3, or which include interchange fees higher than those provided for in paragraphs 1 or 2, shall not be permitted. In the event that a contract or other type of agreement rules out the application of paragraphs 1 or 2, or the setting of an interchange fee in a contract or other type of agreement that is higher than those provided for in paragraphs 1 or 2, the maximum rate provided for in paragraphs 1 or 2 shall be applied.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 4 – paragraph 2 a (new)

2a. Any provisions in contracts or other types of agreement which rule out the applicability of paragraphs 1 or 2, or which include interchange fees higher than those provided for in paragraphs 1 or 2, shall not be permitted. In the event that a contract or other type of agreement rules out the application of paragraphs 1 or 2, or the setting of an interchange fee in a contract or other type of agreement that is higher than those provided for in paragraphs 1 or 2, the maximum rate provided for in paragraphs 1 or 2 shall be applied.

2014/01/28
Committee: ECON

2013/0265(COD)

Proposal for a regulation
Article 7 – paragraph 4 a (new)

4a. Member States shall have the possibility of temporarily exempting newly established card systems – in part or in full – from the application of the provisions of Article 7. This exemption may last for a maximum of seven years.

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 3 – paragraph 1 – point b

(b) payment transactions from the payer to the payee through a commercial agent authorised to negotiate or conclude the sale or purchase of goods or services on behalf of ~~either~~both the payer orand the payee;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 3 – paragraph 1 – point g – point v

(v) ~~paper-based~~ vouchers;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 3 – paragraph 1 – point l

(l) payment transactions carried out by a provider of electronic communication networks or services where the transaction is provided for a subscriber to the network or service and for purchase of digital content as ancillary services to electronic communications services, regardless of the device used for the purchase or consumption of the content, provided that the value of any single payment transaction does not exceed EUR 50 ~~and the cumulative value of payment transactions does not exceed EUR 200 in any billing month~~;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 3 – paragraph 1 – point n a (new)

(na) services by independent providers to withdraw cash by means of automated teller machines acting on behalf of one or more card issuers, which are not a party to the framework contract with the customer withdrawing money from a payment account, on condition that these providers do not conduct other payment services.

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 21

(21) ‘authentication’ means a procedure which allows the payment service provider to verify the identity of a user of a specific payment instrument, including the use of its personalised security features or the checking of personalised identity documents;(Does not affect English version.)

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 22

(22) ‘strong customer authentication’ means a procedure for the validation of the identification of a natural or legal person based on the use of two or more elements categorised as knowledge, possession and inherence that are independent, in that the breach of one does not compromise the reliability of the others and is designed in such a way as to protect the confidentiality of the authentication data.(Does not affect English version.)

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 28

(28) ‘“durable medium’” means any instrument which enables the payment service user to store information addressed ~~personally to of~~to that payment service user in a way accessible for future reference for a period of time adequate to the purposes of the information and which allows the unchanged reproduction of the information stored, including the payment service provider’s publicly accessible internet site;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 32

(32) ‘payment initiation service’ means a payment service enabling access to a payment account maintained by an entity as referred to in point 10 above and provided by a third party payment service provider, where the payer can be actively involved in the payment initiation or the third party payment service provider’s software, or where payment instruments can be used by the payer or the payee to transmit the payer’s c~~redentials to the account servicing~~onsent to the execution of the payment order to the account servicing payment service provider in the form specified in a contract between the payment service provider maintaining the account and the third party payment service provider;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 – point a

~~(a) payment systems designated under Directive 98/26/EC;~~deleted

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 45 – paragraph 1 – point 2 – point e

(e) the maximum foreseeable execution time for the payment services to be provided;

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 50 – paragraph 3

3. However, Member States may require payment service providers to provide information on paper or another durable medium once a month free of charge.

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 51 – paragraph 3

3. However, Member States may require payment service providers to provide information on paper or another durable medium once a month free of charge.

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 55 – paragraph 1

1. The payment service provider may not charge the payment service user for fulfilment of its information obligations or corrective and preventive measures under this Title, unless otherwise specified in Articles 70(1), 71(5) and 79(24). Those charges shall be agreed between the payment service user and the payment service provider and shall be appropriate and in line with the payment service provider's actual costs.

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 55 – paragraph 3 a (new)

3a. The payment service provider may not charge the payment service user for the provision and use of a payment card associated with an account with basic features as referred to in [Directive XXX/2014, COM(2013)0266].

2014/01/28
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 58 – paragraph 2 a (new)

2a. Payment service providers shall be required to provide to a third party payment service provider operating under a contract with a payer access to the payment account information needed to determine the availability of the funds required for the payment transaction in question.

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 59 – paragraph 1 a (new)

1a. Payment service providers shall be required to provide to a third party payment instruments issuer operating under a contract with a payer access to the payment account information needed to determine the availability of the funds required for the payment transaction in question.

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 61 – paragraph 1 – point b a (new)

(ba) comply with all security requirements, in particular those laid down in the contract with the payment instrument issuer, notably where they relate to confidentiality of the data and elements used for strong authentication.

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 62 – title

Obligations of the payment service provider and user in relation to payment instruments

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 62 – paragraph 2 a (new)

2a. A payment service user shall, through the exercise of ordinary diligence, comply with security requirements, in particular those laid down in the contract with the payment instrument issuer, notably where they relate to confidentiality of the data and elements used for strong authentication.

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Article 93 – paragraph 1 – point b

~~b) updating of the amounts specified in Articles 27(1) and 66(1) to take account of inflation and significant market developments.~~deleted

2014/01/20
Committee: ECON

2013/0264(COD)

Proposal for a directive
Annex 1 – point 7 a (new)

7a. Execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator, acting only as an intermediary between the payment service user and the supplier of the goods and services.

2014/01/20
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 2

(2) ‘'national resolution authority’' means an authority designated by a participating Member State in accordance with Article 3 of Directive [ ];

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 1 a (new)

1a. Every action, proposal or policy of the Board, the Commission or a national resolution authority in the framework of the Single Resolution Mechanism shall be undertaken with a view to promoting the stability of the financial system within the EU and within each participating Member State in the EU with full regard and duty of care for the unity and integrity of the internal market, so as to avoid a disproportionate increase in the costs to the participating Member State, to the extent that they would be greater than in the case when institution had been resolved outside the framework of Single Resolution Mechanism.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 2 – introductory part

2. When making decisions or taking action, which may have an impact in more than one participating Member State, and in particular when taking decisions concerning groups established in two or more participating ~~Member States,~~and non-participating Member States, the Board and the Commission shall give due consideration to all of the following factors:

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 4 a (new)

4a. If any decision or resolution action taken in the framework of the SRM at any stage implies extraordinary public financial support by a Member State, the acceptance of the Member State is a precondition for applying such an action. If the Member State does not consent, national insolvency laws apply to the case.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 7 – paragraph 6

6. Group resolution plans shall include a plan for the resolution of the group as a whole ~~and shall identify measures for~~. On the motivated request of the national resolution authority or of a representative in the rResolution ~~of the parent undertakings and the subsidiaries that are part of the group~~Board, particularly in the case when operations of the subsidiary constitute a significant share of that Member State's financial system, the group resolution plan shall also include a separate plan for the resolution of the subsidiary located in that participating Member State.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 7 – paragraph 7 a (new)

7 a. In case of credit institutions regarded as non-systemic, according to the definition included in Regulation 2012/0242, the national resolution authorities draw draft resolution plans. The Resolution Board can only accept or reject a draft plan with a comprehensive justification. In case of a second rejection, the draft plan is reffered to the plenary session of the Resolution Board.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 7 – paragraph 8

8. ~~The Board may require n~~National resolution authorities to prepare preliminary draft resolution plans and the group level resolution authority to prepares a preliminary draft group resolution plan. If the Board decides to amend a submitted draft resolution plan it shall provide a comprehensive justification.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 8 – paragraph 1

1. When drafting resolution plans in accordance with Article 7, the Board, after consultation with the competent authority, including the ECB, and the resolution authorities of non- participating Member States ~~in which significant branches are located insofar as~~when it refers to entity operating under its ~~relevant to the significant branch~~jurisdiction, shall conduct an assessment of the extent to which institutions and groups are resolvable without the assumption of extraordinary public financial support besides the use of the Fund established in accordance with Article 64. The draft group resolution plan and ensuing resolution decisions shall not be binding for the resolution authority of the non-participating Member State.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 8 – paragraph 6

6. The report shall be notified to the entity or parent undertaking concerned, to the competent authorities and to the resolution authorities of non-participating Member States ~~in which significant branches are located~~. It shall be supported by reasons for the assessment or determination in question and shall indicate how that assessment or determination complies with the requirement for proportionate application set out in Article 6.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 8 – paragraph 7

7. Within four months from the date of receipt of the report, the entity or the parent undertaking may submit observations and propose to the Board alternative measures to remedy the impediments identified in the report. The Board shall communicate any measure proposed by the entity or parent undertaking to the competent authorities and to the resolution authorities of non-participating Member States ~~in which significant branches are located~~.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 8 – paragraph 10

10. The national resolution authorities shall implement the instructions of the Board in accordance with Article 26. In case of the resolution of a non-systemic credit institution, the national resolution authority under whose jurisdiction institution operates, may object to the instructions of the Board. After objecting, the authority shall propose its own actions, which are effective only when approved by the plenary session of the Resolution Board.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 12 – paragraph 3

3. The Board and the Commission shall balance the objectives referred to in paragraph 2 as appropriate to the nature and circumstances of each case.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point f a (new)

(fa) the management of the institution under resolution shall provide all necessary assistance for the achievement of the resolution objectives;

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point f b (new)

(fb) the causes of and responsibility for the failure of the institution under resolution are investigated;

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point f c (new)

(fc) the claims of depositors are adequately protected

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point f d (new)

(fd) resolution action shall be taken in accordance with the safeguards outlined in the Directive [ ];

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 16 – paragraph 6

6. Having regard to the urgency of the circumstances in the case, the Commission shall decide, ~~on its own initiative or~~ taking into account~~, if any,~~ the communication referred to in paragraph 1 or the recommendation of the Board referred to in paragraph 5, whether or not to place the entity under resolution, and on the framework of the resolution tools that shall be applied in respect of the entity concerned and of the use of the Fund to support the resolution action. The Commission, on its own initiative, may decide to place an entity under resolution if all the conditions referred to in paragraph 2 are met.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 16 – paragraph 8

8. ~~Within the framework set by the Commission decision, t~~The Board shall decide on the resolution scheme referred to in Article 20 and shall ensure that the necessary resolution action is taken to carry out the resolution scheme by the relevant national resolution authorities. The decision of the Board shall be addressed to the relevant national resolution authorities and shall instruct those authorities, which shall take all necessary measures to implement the decision of the Board in accordance with Article 26, by exercising any of the resolution powers provided for in Directive [ ], in particular those in Articles 56 to 64 of that Directive [ ]. Where State aid is present, the Board may only decide after the Commission has taken a decision on that State aid.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 16 – paragraph 8 a (new)

8a. In case of the resolution of a non- systemic credit institution, the national resolution authority under whose jurisdiction this institution operates draws draft resolution scheme which is subject to the approval of the Resolution Board. When the Resolution Board rejects the scheme, at its executive session, the scheme is referred to the plenary session.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 16 – paragraph 12

~~12. The Board shall have the power to recommend to the Commission to amend the framework for the resolution tools and for the use of the Fund in respect of an entity placed under resolution.~~deleted

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 17 – paragraph 14

14. The valuation shall ~~not have any l~~be an integral ~~effect and be a procedural step preparing f~~part of the decision to apply a resolution tool or exercise a resolution power, or the rdec~~ommendation of the Board to apply a reso~~ision to exercise the write down or conversion power of capital instruments. The valuation ~~tool or exercise a resolution power.~~ shall not be subject to separate judicial review but only to judicial review together with the decision in accordance with Article 78 of the Directive [ ].

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 27 – paragraph 1

1. The Board shall inform the Commission and resolution authorities of any action it takes in order to prepare for resolution. With regard to any information received from the Board, the members of the Commission ~~and~~, Commission staff and resolution authorities' staff shall be subject to the professional secrecy requirement laid down in Article 79.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 30 – paragraph 1

Where a group includes entities established in participating Member States as well as in non-participating Member States, without prejudice to any approval by the Commission required under this Regulation, the Board shall represent the national resolution authorities of the participating Member States, for the purposes of cooperation with non- participating Member States in accordance with Articles 7, 8, 11, 12, 15, 50, and 80 to 83 of Directive [ ]. The Board shall inform national resolution authorities of non- participating Member States of any action it takes in order to prepare for resolution where a group includes entities established in participating Member States as well as in non-participating Member States. In case of disagreements in cross-border situations the provisions on European Banking Authority binding mediation specified in the Regulation 1093/2010 find full application. The Board, in its capacity of a national resolution authority is obliged to act in accordance with the EBA's decision and the Commission cannot take actions which infringe the EBA's decision.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 39 – paragraph 1 – point c

~~(c) a member appointed by the Commission;~~deleted

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 39 – paragraph 1 – point d

~~(d) a member appointed by the ECB;~~deleted

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 39 – paragraph 3 – point a

(a) a plenary session of the Board~~, which shall exercise the tasks set out in Article 47;~~

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 51 – paragraph 2

2. When deliberating on a cross-border group, the Board shall take its decisions on resolution actions in its executive sessions by a ~~simple major~~way of unanimity of its participating members. The members of the Board referred to in Article 40(2) and the member appointed by the Member State in which the group level resolution authority is situated shall each have one vote. The other participating members shall each have a voting right equal to a fraction of one vote and the number of national resolution authorities of the Member States in which a subsidiary or entity covshall each have one vote. The executive session has 7 days to reach a decision. If the joint agreement is not achieved, then the draft decision shall be referred ~~by consolidated supervision is established. In case of a tie the Executive Director shall have a casting vote~~to the plenary session and adopted by simple majority.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 70 – paragraph 3

3. The Board shall invest the amounts held in the Fund in obligations of the ~~participating~~ Member States or intergovernmental organisations, or in highly liquid assets of high credit worthiness. Investments should be sufficiently geographically diversified. The return on those investments shall benefit the Fund.

2013/10/22
Committee: ECON

2013/0188(CNS)

Proposal for a directive
Recital 3 a (new)

(3a) According to the OECD report of 19 June 2013 and the St Petersburg G20 Leaders’ Declaration of 6 September 2013, the automatic exchange of information should be based on a common global model which ensures adequate confidentiality and the proper use of information exchanged. Expanding the scope of the automatic exchange of tax information will be the EU’s contribution to the work of the OECD and should increase the probability of a coherent global system, based on the new OECD standard to be presented in February 2014.

2013/10/01
Committee: ECON

2013/0188(CNS)

Proposal for a directive
Recital 6 a (new)

(6a) The new categories of income and capital in respect of which this Directive introduces an obligation to exchange information should be defined in accordance with their interpretation under the national legislation of the Member State communicating the information.

2013/10/01
Committee: ECON

2013/0188(CNS)

Proposal for a directive
Recital 9

(9) The review of the condition of availability to be undertaken in 2017 should be extended to all the five categories referred to in Article 8(1) of Directive 2011/16/UE, so that the case for exchange of information by all Member States on all those categories be examined.deleted

2013/10/01
Committee: ECON

2013/0188(CNS)

Proposal for a directive
Article 1 – paragraph 1 – point b

Directive 2011/16/EU
Article 8 – paragraph 3a – subparagraph 1

3a. The competent authority of each Member State shall, by automatic exchange, communicate to the competent authority of any other Member State, information regarding taxable periods as from 1 January 2014 concerning the following items, in accordance with their interpretation under the national legislation of the Member State communicating the information, which are paid, secured or held by a financial institution for the direct or indirect benefit of a beneficial owner who is a natural person resident in that other Member State:

2013/10/01
Committee: ECON

2013/0188(CNS)

Proposal for a directive
Article 1 – paragraph 1 – point c

Directive 2011/16/EU
Article 8 – paragraph 5 – subparagraph 1

5. the competent authority of each Member State shall, by automatic exchange, communicate to the competent authority of any other Member State, information regarding taxable periods as from 1 January 2017 concerning residents in that other Member State, on allt least three specific categories of income and capital listed in paragraph 1, as they are to be understood under the national legislation of the Member State communicating the information;

2013/10/01
Committee: ECON

2013/0157(COD)

Proposal for a regulation
–

The European Parliament rejects the motion for a resolution.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Recital 18

(18) The competent authorities designated in a Member State should have the choice to decide to provide port services with public service obligations themselves or to entrust directly the provision of such services directly to an internal operator. In the case that a competent authority decides to provide the service itself, this may cover the provision of services through agents employed by the competent authority or commissioned by the competent authority. When such limitation is applied in all the TEN-T ports in the territory of a Member State, the Commission should be informed. In the cases where the competent authorities in a Member State prevail on such a choice, the provision of port services by the internal operators should be confined only to the port or ports for which those internal operators were designated. ~~Moreover, in such cases, the port service charges applied by such an operator should be subject to supervision by the independent supervisory body.~~

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Recital 27

~~(27) In order to ensure the proper and effective application of this Regulation, an independent supervisory body, which could be an already existing body, should be designated in every Member State.~~deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Recital 28

~~(28) The different independent supervisory bodies should exchange information on their work and cooperate in order to ensure a uniform application of this Regulation.~~deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Recital 30

(30) In order to ensure uniform conditions for the implementation of this Regulation implementing powers relating to appropriate arrangements for the exchange of information between independent supervisory bodies should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by the Member States of the Commission's exercise of implementing powers13. __________________ 13deleted OJ L 55, 28.2.2011, p. 13.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2

2. "cargo handling services" means the organisation and handling of cargo between the carrying waterborne vessel and the shore be it for import, export or transit of the cargo, including the processing, transporting and temporary storage of the cargo on the relevant cargo handling terminal ~~and directly related to the transporting of the cargo, but excluding~~, warehousing, stripping, repackaging or anyd other ~~value added services related to the handled~~services directly related to the transportation of the cargo;

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 4 – paragraph 2 – introductory part

2. The minimum requirements provided for in paragraph 1 may ~~only~~ relate particularly, where applicable, to:

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 4 – paragraph 4

4. Where the minimum requirements include specific local knowledge or acquaints with local conditions, the managing body of the port ~~shall~~may ensure that ~~adequate~~ access to relevant training exists, under transparent and non-discriminatory conditions, unless adequate access to such training is ensured by the Member State.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 7 – paragraph 2

2. If the estimated value of the port service exceeds the threshold defined in paragraph 3, the rules on the award procedure, the procedural guarantees and the maximum duration of the concessions as set out in Directive …./…. [concession] shall apply.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 7 – paragraph 3

~~3. The threshold and the method to determine the value of the port service shall be those of the relevant and applicable provisions of Directive .…/…. [concession].~~deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 7 – paragraph 5

5. For the purposes of this Regulation, a substantial modification within the meaning of Directive …./… [concession] of the provisions of a port service contract during its term shall be considered as a new port service contract and shall require a new procedure as referred to in paragraph 2.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 10 – paragraph 2

2. Without prejudice to national and Union law including collective agreements between social partners, the managing bodies of the port may require the designated provider of port services appointed in accordance with the procedure established by Article 7, in the case where this provider is different from the incumbent provider of port services, to grant staff previously taken on by the incumbent provider of port services the rights to which they would have been entitled if there had been a transfer within the meaning of Directive 2001/23/EC.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 10 – paragraph 3

3. Where managing bodies of the port require providers of port services to comply with certain social standards as regards the provision of relevant port services, tender documents and port service contracts shall list the staff concerned and give transparent details of their contractual rights and the conditions under which employees are deemed to be linked to the port services.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 12 – paragraph 4

4. The managing body of the port shall keep the information concerning the financial relations as referred to in paragraphs 1 and 2 of this Article at the disposal of the Commission and of the competent ~~independent supervisory~~public body as referred to in Article 17 for five years from the end of the fiscal year to which the information refers.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 12 – paragraph 5

5. The managing body of the port shall make available to the Commission and the competent ~~independent supervisory~~public body, upon request, any additional information that they deem necessary in order to complete a thorough appraisal of the data submitted and to assess compliance with this Regulation. The information shall be transmitted within two months from the date of the request.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 13 – paragraph 3

3. The port service provider shall make available to the competent ~~independent supervisory body as referred to in Article 17~~public body, upon request, information on the elements serving as a basis to determine the structure and the level of the port service charges that falls under the application of paragraph 1 of this Article. ~~This information shall include the methodology used for setting the port charges with regard to the facilities and services to which these port service charges relate to.~~

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 14 – paragraph 5

~~5. The Commission shall be empowered to adopt, where necessary,~~ delegated acts in accordance with the procedure referred to in Article 21 concerning common classifications of vessels, fuels and types of operations according to which the infrastructure charges can vary and common charging principles for port infrastructure charges.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 14 – paragraph 7

7. The managing body of the port shall make available to the competent ~~independent supervisory~~public body and to the Commission, upon request, the information referred to in paragraph 4 and the detailed costs and revenues, serving as a basis to determine the structure and the level of the port infrastructure charges and the methodology used for setting the port infrastructure charges with regard to the facilities and services to which these port charges relate to.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 15

Article 15 Consultation of port users 1. The managing body of the port shall establish a committee of representatives of operators of waterborne vessels, cargo owners or other port users which are requested to pay an infrastructure charge or a port service charge or both. This committee shall be called the "port users' advisory committee". 2. The managing body of the port shall consult on an annual basis prior to the setting of port infrastructure charges the port users' advisory committee on the structure and level of such charges. The providers of port services as referred to in Article 6 and in Article 9 shall consult on an annual basis prior to the setting of port service charges the port users' advisory committee on the structure and level of such charges. The managing body of the port shall provide adequate facilities for such consultation and shall be informed of the results of the consultation by the providers of port services.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 16 – paragraph 1 – introductory part

1. The managing body of the port shall ~~regularly consult stakeholders such as~~establish a stakeholders’ committee whose composition should include, in particular, undertakings established in the port, providers of port services, operators of waterborne vessels, cargo owners, land transport operators and public administrations operating in the port area ~~on the following~~. The agreement of the port management shall not be required in order to join this committee. Stakeholders shall have full freedom to select their representatives in the committee. Port management shall consult the stakeholders’ committee on decisions – including investment decisions – that may have a significant impact on port operations, including in particular:

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point c a (new)

(c a) the structure and level of charges for the use of port infrastructure.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 17

~~[...]~~deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 18

Article 18 Cooperation between independent supervisory bodies 1. The independent supervisory bodies shall exchange information about their work and decision-making principles and practices in order to facilitate a uniform implementation of this Regulation. For this purpose, they shall participate and work together in a network that convenes at regular intervals and at least once a year. The Commission shall participate, coordinate and support the work of the network. 2. The independent supervisory bodies shall cooperate closely for the purposes of mutual assistance in their tasks, including in carrying out investigations required to handle complaints and disputes in cases involving ports in different Member States. For this purpose, an independent supervisory body shall make available to another such body, after a substantiated request, the information necessary to allow that body to fulfil its responsibilities under this Regulation. 3. The Member States shall ensure that the independent supervisory bodies shall provide the Commission, after a reasoned request, with the information necessary for it to carry its tasks. The information requested by the Commission shall be proportionate to the performance of those tasks. 4. Where information is considered confidential by the independent supervisory body in accordance with Union or national rules on business confidentiality, the other national supervisory body and the Commission shall ensure such confidentiality. This information may only be used for the purpose which it was requested. 5. Based on the experience of the independent supervisory bodies and on the activities of the network referred to in paragraph 1, and in order to ensure efficient cooperation, the Commission may adopt common principles on the appropriate arrangements for the exchange of information between independent supervisory bodies. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 22(2).deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 19 – paragraph 1

1. Any party with a legitimate interest shall have the right to appeal against the decisions or individual measures taken under this Regulation by the competent authorities, by the managing body of the port or by the ~~independent supervisory~~competent public body to an appeal body which is independent of the parties involved. This appeal body may be a court.

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 21

Article 21 Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 14 shall be conferred on the Commission for an indeterminate period of time. 3. The delegation of power referred to in Article 14 may be revoked at any time by the European Parliament or by the Council. A decision of revocation shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 5. A delegated act adopted pursuant to Article 14 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of 2 months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 2 months at the initiative of the European Parliament or the Council.deleted

2013/12/04
Committee: TRAN

2013/0157(COD)

Proposal for a regulation
Article 25 – paragraph 2

It shall apply with effect from 1 July 20158.

2013/12/04
Committee: TRAN

2013/0025(COD)

Proposal for a directive
Recital 6

(6) The use of large cash payments is vulnerable to money laundering and terrorist financing. In order to increase vigilance and mitigate the risks posed by cash payments natural or legal persons trading in goods should be covered by this Directive to the extent that they make or receive cash payments of EUR ~~7 5~~15 000 or more. Member States may decide to adopt stricter provisions including a lower threshold.

2013/08/01
Committee: ECON

2013/0025(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 3 – point d

(d) real estate ~~agents, including letting~~ agents;

2013/08/01
Committee: ECON

2013/0025(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 3 – point e

(e) other natural or legal persons trading in goods, only to the extent that payments are made or received in cash in an amount of EUR ~~7 5~~15 000 or more, whether the transaction is executed in a single operation or in several operations which appear to be linked;

2013/08/01
Committee: ECON

2013/0025(COD)

Proposal for a directive
Recital 6

(6) The use of large cash payments is vulnerable to money laundering and terrorist financing. In order to increase vigilance and mitigate the risks posed by cash payments natural or legal persons trading in goods should be covered by this Directive to the extent that they make or receive cash payments of EUR ~~7 5~~15 000 or more. Member States may decide to adopt stricter provisions including a lower threshold.

2013/12/09
Committee: ECON LIBE

2013/0025(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 3 – point e

(e) other natural or legal persons trading in goods, only to the extent that payments are made or received in cash in an amount of EUR ~~7 5~~15 000 or more, whether the transaction is executed in a single operation or in several operations which appear to be linked;

2013/12/09
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Recital 10

(10) In order not to impair the efficiency of payment systems, the verification requirements for transfers of funds made from an account should be separate from those for transfers of funds not made from an account. In order to balance the risk of driving transactions underground by imposing overly strict identification requirements against the potential terrorist threat posed by small transfers of funds, the obligation to check whether the information on the payer is accurate should, in the case of transfers of funds not made from an account, be imposed only in respect of individual transfers of funds that exceed EUR 1 000. For transfers of funds made from an account, payment service providers should not be required to verify information on the payer accompanying each transfer of funds, where the obligations under Directive [xxxx/yyyy] have been met.deleted

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Recital 10

(10) In order not to impair the efficiency of payment systems, the verification requirements for transfers of funds made from an account should be separate from those for transfers of funds not made from an account. In order to balance the risk of driving transactions underground by imposing overly strict identification requirements against the potential terrorist threat posed by small transfers of funds, the obligation to check whether the information on the payer is accurate should, in the case of transfers of funds not made from an account, be imposed only in respect of individual transfers of funds that exceed EUR 1 000,. For transfers of funds made from an account, payment service providers should not be required to verify information on the payer accompanying each transfer of funds, where the obligations under Directive [xxxx/yyyy] have been met.deleted

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Recital 20 a (new)

(20a) Member States should create additional protection mechanisms for people who uncover fraud, thereby helping the national authorities to achieve the goals of the Regulation. Those mechanisms should be reflected in appropriate provisions in criminal, civil and labour law in the form of improved guarantees for people who uncover such illegal activities in the public interest and as a result may be stigmatised within the institution concerned.

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7

(7) ‘transfer of funds’ means any transaction carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, in particular ‘money remittance services’ and ‘direct debit’ within the meaning of Directive 2007/64/EC, irrespective of whether the payer and the payee are the same person;

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – introductory part

This Regulation shall not apply to transfers of funds carried out using a credit or debit card, or a mobile telephone or any other digital or information technology (IT) device defined in Directive 2013/0264, where the following conditions are fulfilled:

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7

(7) ‘transfer of funds’ means any transaction carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, in particular ‘money remittance services’ and ‘direct debit’ within the meaning of Directive 2007/64/EC, irrespective of whether the payer and the payee are the same person;

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2

However, this Regulation shall apply when a credit or debit card, or a mobile telephone, or any other digital or IT device is used in order to effect a person-to-person transfer of funds. The Regulation shall also apply in every case to transactions in which at least one party to the transaction is a consumer.

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 4 – paragraph 5

5. However, by way of derogation from paragraph 3, in the case of transfers of funds not made from an account, the payment service provider of the payer shall not verify the information referred to in paragraph 1 if the amount does not exceed EUR 1 000 and it does not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 1 000.deleted

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 4 – paragraph 5

5. However, by way of derogation from paragraph 3, in the case of transfers of funds not made from an account, the payment service provider of the payer shall not verify the information referred to in paragraph 1 if the amount does not exceed EUR 1 000 and it does not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 1 000.deleted

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 5 – paragraph 1

1. By way of derogation from Article 4(1) and (2), where the payment service provider(s) of both the payer and the payee are established in the Union, only the full name of the principal and the account number of the payer or his unique transaction identifier shall be provided at the time of the transfer of funds.

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 5 – paragraph 1 a (new)

1a. A derogation from paragraph 1 shall only be applicable in the case of a transfer of funds in the currency of one of the Member States.

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 5 – paragraph 1

1. By way of derogation from Article 4(1) and (2), where the payment service provider(s) of both the payer and the payee are established in the Union, only the full name of the principal and the account number of the payer or his unique transaction identifier shall be provided at the time of the transfer of funds.

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 5 – paragraph 1 a (new)

1a. A derogation from paragraph 1 shall only be applicable in the case of a transfer of funds in the currency of one of the Member States.

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1

By way of derogation from Article 4(1) and (2), where the payment service provider of the payee is established outside the Union, transfers of funds amounting to EUR 1 000 or less shall be accompanied only by: (a) the name of the payer; (b) the name of the payee; (c) the account number of both the payer and the payee or the unique transaction identifier.deleted

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 6 – paragraph 2

2. By way of derogation from Article 4(1) and (2), where the payment service provider of the payee is established outside the Union, transfers of funds amounting to EUR 1 000 or less shall be accompanied only by: (a) the name of the payer; (b) the name of the payee; (c) the account number of both the payer and the payee or the unique transaction identifier. This information need not be verified for accuracy, unless there is a suspicion of money laundering or terrorist financing.deleted

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 7 – paragraph 3

3. For transfers of funds ~~amounting to more than EUR 1 000,~~ where the payment service provider of the payer is established outside the Union, the payment service provider of the payee shall verify the identity of the payee if his or her identity has not already been verified.

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 7 – paragraph 4

4. For transfers amounting to EUR 1 000 or less, where the payment service provider of the payer is established outside the Union, the payment service provider of the payee need not verify the information pertaining to the payee, unless there is a suspicion of money laundering or terrorist financing.deleted

2013/07/24
Committee: ECON

2013/0024(COD)

Proposal for a regulation
Article 7 – paragraph 3

3. For transfers of funds ~~amounting to more than EUR 1 000,~~ where the payment service provider of the payer is established outside the Union, the payment service provider of the payee shall verify the identity of the payee if his or her identity has not already been verified.

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 7 – paragraph 4

4. For transfers amounting to EUR 1 000 or less, where the payment service provider of the payer is established outside the Union, the payment service provider of the payee need not verify the information pertaining to the payee, unless there is a suspicion of money laundering or terrorist financing.deleted

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 15 – paragraph 1

Payment service providers and intermediary payment service providers shall respond fully and without delay, in accordance with the procedural requirements established in the national law of the Member State in which they are established, to enquiries from the authorities responsible for combating money laundering or terrorist financing of that Member State concerning the information required under this Regulation.

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 18 – paragraph 1 – point a

(a) repeated non-inclusion by payment service providers of required information on the payer and payee, in breach of Articles 4, 5 and 6;

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 18 – paragraph 1 – point c a (new)

(ca) serious failure by intermediary payment service providers to comply with obligations under Articles 11 and 12;

2013/12/11
Committee: ECON LIBE

2013/0024(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point g a (new)

(ga) in the case of administrative sanctions imposed on credit institutions defined in accordance with Regulation 2011/0202, the stability of the financial system must be taken into account when determining the level of sanctions;

2013/12/11
Committee: ECON LIBE

2012/2297(INI)

Motion for a resolution
Paragraph 17 a (new)

17a. Notes that plans to shift transport from road to sea could be hampered by the ever greater requirements relating to the scrapping of ships and the sulphur content of marine fuels, which significantly reduces the competitiveness of maritime transport;

2013/05/02
Committee: TRAN

2012/2297(INI)

Motion for a resolution
Paragraph 20 a (new)

20a. Stresses that any maritime transport development strategy should not only take into account the environmental aspect but must also protect the overall interests of shipowners by not worsening their business environment;

2013/05/02
Committee: TRAN

2012/2078(INI)

Artur ZASADA, Sławomir NITRAS

Draft opinion
Paragraph 3

3. Welcomes the on-going creation of a single supervisory mechanism covering the euro area and open to all other EU Member States and expects the formula of regulation developed on this occasion – as part of which Economic and Monetary Union is strengthened by harmonising financial regulation whilst also leaving the door open for all the Member States concerned, in particular those covered by the derogation laid down in Article 139(1) TFEU – to also be the default formula used in future;

2013/02/26
Committee: ECON

2012/0344(NLE)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a

Regulation (EC) No 994/98
Article 1 – paragraph 1 – point a – point xii

~~coordination of transport or reimbursement for the discharge of certain obligations inherent in the concept of a public service pursuant to Article 93 of the Treaty;~~deleted

2013/04/25
Committee: TRAN

2012/0344(NLE)

Artur ZASADA, Sławomir NITRAS

Proposal for a regulation
Article 2

Regulation (EC) No 1370/2007
Article 9

Article 2 Regulation (EC) No 1370/2007 is amended as follows: Article 9 shall be deleted with effect from six months after the entry into force of a Commission regulation concerning the category of State aid referred to in Article 1 (a) xii of Council Regulation (EC) No 994/98.deleted

2013/04/25
Committee: TRAN

2012/0298(APP)

Proposal for a recommendation
Recital O a (new)

Oa. whereas enhanced cooperation in the area of taxes is a formidable precedence in EU legislative practice, it should be borne in mind that a standard is being set for prospective endeavours in the field of tax harmonisation; therefore the authorisation decision shall be made upon a substantial and comprehensive working document prepared by the European Commission, specifying the legal framework for this particular initiative,

2012/11/22
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 1 – paragraph 2 – point f

~~(f) the amount of the annual premium for the insurance contract, when pro-rated to produce an annual amount, does not exceed EUR 600.~~deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 8 – paragraph 3

3. Insurance and reinsurance intermediaries shall hold professional indemnity insurance covering the whole territory of the Union or some other comparable guarantee against liability arising from professional negligence, for at least EUR 1 12000 000 applying to each claim and in aggregate EUR 1 68500 000 per year for all claims, unless such insurance or comparable guarantee is already provided by an insurance undertaking, reinsurance undertaking or other undertaking on whose behalf the insurance or reinsurance intermediary is acting or for which the insurance or reinsurance intermediary is empowered to act or such undertaking has taken on full responsibility for the intermediary's actions.

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 13 – paragraph 1 – introductory part

1. Member States shall ensure the setting- up of appropriate, effective, impartial and independent complaints and redress procedures for the out-of-court settlement of disputes between insurance intermediaries and customers, and between insurance undertakings and customers, using existing bodies where appropriate. Member States shall further ensure that all insurance undertakings and insurance intermediaries have the opportunity to participate in the procedures for the out-of- court settlement of disputes where the following conditions are met:

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point f

(f) if the intermediary will receive a fee or a commission of any kind, the full amount of the remuneration concerning the insurance products being offered or considered or, where the precise amount is not capable of being given, the basis of calculation of all the fee or commission or the combination of both;whether in relation to the insurance contract, the source of remuneration is: (i) the policyholder; (ii) the insurance undertaking; (iii) another insurance intermediary; (iv) a combination of (i), (ii) and (iii).

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point g

(g) if the amount of the commission is based on the achievement of agreed targets or thresholds relating to the business placed by the intermediary with an insurer, the targets or thresholds as well as the amounts payable on the achievement of them.deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point g a (new)

(ga) the costs of sale in relation to the insurance product.

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 2

2. By derogation from paragraph 1(f) for five years from the date on which this Directive comes into force, the intermediary of insurance contracts other than contracts in any of the classes specified in Annex I of Directive 2002/83/EC, shall, prior to the conclusion of any such insurance contract, if the intermediary is to be remunerated by a fee or commission, (a) provide the customer with the amount or, where the precise amount is not capable of being given, the basis of calculation of the fee or commission or the combination of both, if the customer so requests. (b) inform the customer of his right to request the information referred to in point (a).deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 3

3. The insurance undertaking or insurance intermediary shall also inform the customer about the nature and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question.deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 4

4. If any payments are made by the customer under the insurance contract after its conclusion, the insurance undertaking or intermediary shall also make the disclosures in accordance with this Article for each such payment.deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 5

~~5. The Commission shall be empowered to adopt~~ delegated acts in accordance with Article 33. Those delegated acts shall specify: (a) appropriate criteria for determining how the remuneration of the intermediary - including contingent commission – shall be disclosed to the customer as referred to in paragraph 1 (f ) and (g) and paragraph 2 of this Article; (b) appropriate criteria for determining in particular the basis of calculation of all the fee or commission or the combination of both; (c) the steps that insurance intermediaries and insurance undertakings might reasonably be expected to take to disclose their remuneration to the customer.

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 19 – paragraph 1 a (new)

1a. By way of derogation from paragraph 1, in the case of an insurance contract for a third party where the policyholder is a professional entity as defined in the annex but where that entity is not the insured person, the insurance intermediary or insurance undertaking shall be required to provide the insured person with the information set out in Articles 16, 17 and 18.

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 24 – paragraph 6 – introductory part

6. ~~The Commission shall be empowered to adopt delegated acts in~~Member States may additionally prohibit or further restrict the offer or acc~~ord~~eptance ~~with Article 33 concerning measures to ensure that insurance intermediaries and insurance undertakings comply with the principles set out in this Article when carrying~~of fees, commissions or non- monetary benefits from third parties in relation to the provision onf insurance ~~mediation with their customers. Those delegated acts shall specify:~~advice.

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 24 – paragraph 6 – point a

~~(a) the nature of the service(s) offered or provided to the customer or potential customer, taking into account the type, object, size and frequency of the transactions; an~~deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 24 – paragraph 6 – point b

~~(b) the nature of the products being offered or considered including different types of insurance products.~~deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 26

~~[…]~~deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 27 – paragraph 1

Member States shall provide that the competent authority publishes any sanction or measure that has been imposed for breaches of the provisions of the national provisions adopted in the implementation of this Directive without undue delay including information on the type and nature of the breach and the identity of persons responsible for it, unless such disclosure would seriously jeopardise insurance and reinsurance markets. Where the publication would cause a disproportionate damage to the parties involved, the competent authorities shall publish the sanctions on an anonymous basis.deleted

2013/02/14
Committee: ECON

2012/0175(COD)

Proposal for a directive
Article 28

~~[...]~~deleted

2013/02/14
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 1 – paragraph 1 – point a

(a) credit institutions ~~and investment firms~~;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 1 – paragraph 1 – point b

(b) financial institutions when the financial institution is a subsidiary of a credit institution or investment firm, or of a company referred to in points (c) and (d), and is covered by the supervision of the parent undertaking on a consolidated basis in accordance with Subsection I of Section 2 of Chapter 2 of Title V of Directive 2006/48/EC;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 1 – paragraph 1 – point c

~~(c) financial holding companies, mixed financial holding companies, mixed- activity holding companies;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 1 – paragraph 1 – point d

(d) parent financial holding companies in a Member State, Union parent financial holding companies, parent mixed financial holding companies in a Member State, Union parent mixed financial holding companies;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 3

~~(3) ‘investment firm’ means an investment firm as defined in Article 3(1)(b) of Directive 2006/49/EC that are subject to the initial capital requirement specified in Article 9 of that Directive;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 4

~~(4) ‘financial institution’ means a financial institution as defined in Article 4(5) of Directive 2006/48/EC;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 8

(8) ‘financial holding company’ means a financial institution, the subsidiary undertakings of which are either exclusively or mainly institutions or financial institutions, at least one of such subsidiaries being an institution, and which is not a mixed financial holding company within the meaning of Article 2(15) of Directive 2002/87/EC;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 9

~~(9) ‘mixed financial holding company’ means a mixed financial holding company as defined in Article 2(15) of Directive 2002/87/EC;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 10

(10) ‘mixed-activity holding company’ means a mixed-activity holding company as defined in Article 4(20) of Directive 2006/48/EC, or a mixed-activity holding company as defined in Article 3(3(b) of Directive 2006/49/EC;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 11

(11) ‘parent financial holding company in a Member State’ means a financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 12

(12) ‘Union parent financial holding company’ means a parent financial holding company which is not a subsidiary of an institution authorised in any Member State or of another financial holding company or mixed financial holding company set up in any Member State;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 13

(13) ‘parent mixed financial holding company in a Member State’ means a mixed financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 14

(14) ‘Union parent mixed financial holding company’ means a parent mixed financial holding company which is not a subsidiary of a credit institution authorised in any Member State or of another financial holding company or mixed financial holding company set up in any Member State;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 23

(23) ‘institution’ means a credit institution ~~or an investment firm~~;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 36 – point a

~~(a) the taking of a resolution action at the level of the parent undertaking or institution subject to consolidated supervision, or~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 70

(70) ‘relevant parent institution’ means a parent institution in a Member State, a Union parent institution, a financial holding company, a mixed financial holding company, a mixed-activity holding, a parent financial holding company in a Member State, a Union parent financial holding company, a parent mixed financial holding company in a Member State, or a Union parent mixed financial holding company, in relation to which the bail-in tool is applied;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 74

(74) ‘institution under resolution’ means an institution, a financial institution, a financial holding company, a mixed financial holding company, a mixed- activity holding company, a parent financial holding company in a Member State, a Union parent financial holding company, a parent mixed financial holding company in a Member State, or a Union parent mixed financial holding company, in respect of which a resolution action is taken;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 76

(76) ‘Union parent undertaking’ means a Union parent institution~~, an Union parent financial holding company or a Union parent mixed financial holding company~~;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 1

1. Member States shall ensure that parent undertakings or institutions that are subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC draw up and submit to the consolidating supervisor a group recovery plan that includes a recovery plan for the whole group, including for the companies referred to in points (c) and (d) of Article 1, ~~as well as a~~which is based on recovery plan ~~for~~s of each institution ~~that is part of the group~~approved by competent authorities in accordance with Article 6.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 2

2. The consolidating supervisor shall ~~trans~~submit the group recovery plans to the relevant competent authorities referred to in Article 131a of Directive 2006/48/EC and to EBA.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 3 – subparagraph 1

The group recovery plan shall aim to achieve the stabilisation of ~~the group as a whole, or any institution~~every entity of the group , when it is in a situation of stress so as to address or remove the causes of the distress and restore the financial situation ~~of the group or the institution in question.~~

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 3 – subparagraph 2

The group recovery plan shall include arrangements to ensure the coordination ~~and consistency~~ of measures to be taken at the level of the parent undertaking or relevant institution subject to consolidated supervision~~, and at the level of the companies referred to in points (c) and (d) of Article 1~~ as well as measures to be taken at the level of individual institutions.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 4

4. The group recovery plan shall include for the whole group and for each of its entities the elements and arrangements provided in Article 5. It shall also include, where applicable, arrangements for possible intra-group financial support adopted in accordance with any agreement for group financial support that has been concluded in accordance with Article 16.deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 7 – paragraph 5 – subparagraph 2

For each of the scenarios, the group recovery plan shall identify whether there are obstacles to the implementation of recovery measures within the group, and ~~whether there are substantial practical or legal impediments to the prompt transfer of own funds or the repayment of liabilities or assets within the group~~at the level of each entity.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1

The consolidating supervisor together with the competent authorities shall review the group recovery plan, including the recovery plans for individual institutions that are part of the group, and assess the extent to which it satisfies the requirements and criteria set out in Articles 6 and 7. That assessment shall be made in accordance with the procedure established in Article 6 and the provisions of this Article.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2

The consolidating supervisor together with the competent authorities shall carry out the review and assessment of the group recovery plan, including the recovery plans for individual institutions that are part of the group, in consultation and cooperation with the competent authorities referred to in Article 131a of Directive 2006/48/EC. The review and assessment in accordance with Article 6(2) of this Directive of the group recovery plan and, if necessary, the request to take measures in accordance with Article 6(4) of this Directive shall take the form of joint decisions by the authorities referred to in Article 131a of Directive 2006/48/EC.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2

In the absence of a joint decision between the competent authorities within four months, the consolidating supervisor shall make its own decision on the review and assessment of the group recovery plan or on the measures required in accordance with Article 6(4). The decision shall be set out in a document containing the fully reasoned decision and should take into account the views and reservations of the other competent authorities expressed during the four-month period. The consolidating supervisor shall notify the decision to the parent undertaking of the institution subject to consolidated supervision and to the other competent authoritiesmay consult EBA at the request of any of the other competent authority or on its own initiative. In this case EBA may carry out non-binding mediation in accordance with Article 31 (c) of Regulation (EU) No 1093/2010.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 2 – subparagraph 3

~~EBA may on its own initiative assist the competent authorities in reaching an agreement in accordance with Article 19 of Regulation (EU) No 1093/2010.~~deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 3

3. Anyll competent authority that disagrees with the assessment of the group recovery plan or any action that the parent undertaking or institution would be required to take as a result of that assessment in accordance with Article 6(2) and (4) of this Directive, may refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. The matter may not be referred to EBA after the end of the four- month period or after a joint decision has been reachedies involved shall defer their decisions pending the conclusions of the non-binding mediation.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 4

4. ~~EBA shall take its decision within one month, and the four-month period referred to in paragraph 3 will be treated as the conciliation period within the meaning of Regulation (EU) No 1093/2010~~If as a result of the mediation process no agreement has been reached by the competent authorities within one month, each competent authority responsible for supervision on individual basis shall take its own decisions with respect to institutions in their jurisdiction. Where an authority makes such decisions, it must consider the impact of that action on financial stability in other Member States.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 8 – paragraph 5

5. If any competent authority has referred the matter to EBA in accordance with paragraph 3, the consolidating supervisor shall defer its decision and await any decision that EBA may take. The subsequent decision of the consolidating supervisor shall comply with the decision of EBA.deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 9 – paragraph 1

1. Resolution authorities, in consultation with competent authorities, shall draw up a resolution plan for each institution ~~that is not part of a group subject to consolidated supervision pursuant to Articles 125 and 126 of Directive 2006/48/EC~~. The resolution plan shall provide for the resolution actions which the resolution and competent authorities may take where the institution meets the conditions for resolution.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 11 – paragraph 1

1. Member States shall ensure that resolution authorities draw up group resolution plans. Group resolution plans shall include both a plan for resolution at the level of the parent undertaking or institution subject to consolidated supervision pursuant to Article 125 and 126 of Directive 2006/48/EC and the resolution plans for the individual subsidiary institutions drawn up in accordance with Article 9 of this Directive. The group resolution plans shall also include plans for the resolution of ~~the companies referred to in points (c) and (d) of Article 1 and plans for the resolution of~~ institutions with branches in other Member States in compliance with the provisions of Directive 2001/24/EC.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 11 – paragraph 3 – point a

(a) set out the resolution actions to be taken with regards ~~to the group as a whole or part of the group, including individual subsidiar~~group entities, both through resolution actions in respect to ~~the companies referred to in Article 1(d),~~ the parent undertaking and subsidiary institutions and through coordinated resolution actions in respect of subsidiary institutions, in those scenarios provided for in Article 9(2);

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 11 – paragraph 3 – point b

(b) examine the extent to which the resolution tools and powers could be applied and exercised in a coordinated way to group entities located in the Union, including measures to facilitate the purchase by a third party of the group ~~as a whole,~~ or separate business lines or activities that are delivered by a number of group entities, or particular group entities, and identify any potential impediments to a coordinated resolution;

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 11 – paragraph 3 – point e

(e) identify how the group resolution actions could be financed and, where appropriate, set out principles for sharing responsibility for that financing between sources of funding in different Member States. The plan shall not assume extraordinary public financial support besides the use of the financing arrangements established in accordance with Article 91. Those principles shall be set out on the basis of equitable and balanced criteria and shall take into account, in particular, the economic impact of the resolution in the Member States affected and the distribution of the supervisory powers between the different competent authorities.deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 1 – subparagraph 2

The group level resolution authority shall ~~trans~~submit the information provided in accordance with this paragraph to EBA, to the resolution authorities of the subsidiaries institutions, to the relevant competent authorities referred to in Articles 130 and 131a of Directive 2006/48/EC and to the resolution authorities of the Member States where the companies referred to in points (c) and (d) of Article 1 are established.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 2

2. Member States shall ensure that group level resolution authorities, acting jointly with the resolution authorities referred to in the second subparagraph of paragraph 1, in resolution colleges and in consultation withGroup level resolution authorities shall after consulting all the relevant ~~competent~~ authorities, ~~draw up and maintain group resolution plans. Group level resolution authorities may, at their discretion,~~ involve in the drawing up and maintenance of group resolution plans third country resolution authorities of jurisdictions in which the group has established subsidiaries or financial holding companies or significant branches as referred to in Article 42a of Directive 2006/48/EC, where appropriate and based on the relevance of the entity within the group and its significance for the local market.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 4 – subparagraph 2

In the absence of such a joint decision between the resolution authorities within four months, the group level resolution authority ~~shall make its own decision. The decision shall be set out in a document containing the fully reasoned decisions and shall take into account the views and reservations~~may consult EBA at the request of any of the other ~~competent~~resolution authorities expressed during the four- month period. The group level resolution authority shall provide the decision to the parent undertakings or institution which is subject to consolidated supervision and to other resolution authoritiesconcerned or on its own initiative. In this case EBA may carry out non-binding mediation in accordance with Article 31(c) of Regulation (EU) No 1093/2010.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 4 – subparagraph 3

~~EBA may on its own initiative assist the competent authorities in reaching an agreement in accordance with Article 19 of Regulation (EU) No 1093/2010.~~deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 5

5. A resolution authority that disagrees with any element of the group resolution plan may refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. The matter may not be referred to EBA after the end of the four-month period or after a joint decision has been reachedll the authorities involved shall defer their decisions pending the conclusions of the non-binding mediation.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 6

6. ~~EBA shall take a decision within one month, and the four-month period shall be t~~If as a result of the mediation process no agreement has been reatched asby the ~~conciliation period~~resolution authorities within thone m~~eaning of that Regulation. The subsequent decision of the group level resolution authority shall comply with the decision of EBA~~onth, each resolution authority may take its own decisions with respect to institutions in their jurisdiction. Where a resolution authority makes such decisions, it must consider the impact of that action on financial stability in other Member States.

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 12 – paragraph 7

7. Where any of the resolution authorities concerned has referred the matter to EBA in accordance with paragraph 5, the group level resolution authority shall defer its decision and await any decision that EBA may take.deleted

2013/01/11
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 13 – paragraph 1

1. Member States shall ensure that resolution authorities, in consultation with competent authorities, assess the extent to which institutions ~~and groups~~ are resolvable without the assumption of extraordinary public financial support besides the use of the financing arrangements established in accordance with Article 91. An institution or group shall be deemed resolvable if it is feasible and credible for the resolution authority to either liquidate it under normal insolvency proceedings or to resolve it by applying the different resolution tools and powers to the institution and group without giving rise to significant adverse consequences for the financial systems, including in circumstances of broader financial instability or system wide events, of the Member State in which the institution is situated, having regard to the economy or financial stability in that same or other Member State or the Union and with a view to ensure the continuity of critical functions carried out by the institution or group either because they can be easily separated in a timely manner or by other means.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 13 – paragraph 3

3. EBA, in consultation with ESRB, shall develop draft regulatory technical standards to specify the matters to be examined for the assessment of the resolvability of institutions or groups provided for in paragraph 2. EBA shall submit those draft regulatory technical standards to the Commission within twelve months from the date of entry into force of this Directive.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 4 – point h

~~(h) requiring a parent undertaking to set up a parent financial holding company in a Member State or a Union parent financial holding company;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 4 – point i

~~(i) requiring a parent undertaking, or a company referred to in points (c) and (d) of Article 1 to issue the debt instruments or loans referred to in Article 39 (2);~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 4 – point j

(j) where an institution is the subsidiary of a mixed-activity holding company, requiring that the mixed-activity holding company set up a separate financial holding company to control the institution, if this is necessary in order to facilitate the resolution of the institution and to avoid the application of the resolution tools and powers specified in Title IV having an adverse effect on the non-financial part of the group.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 8 – subparagraph 1

EBA shall develop draft ~~regulatory technical standard~~guidelines for specifying the measures provided for in paragraph 4 and the circumstances in which each measure may be applied.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 8 – subparagraph 2

EBA shall submit those draft ~~regulatory technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 14 – paragraph 8 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 2

2. The group level resolution authority~~, in cooperation with the consolidating supervisor~~ together with competent authorities and EBA in accordance with Article 25(1) of Regulation (EU) No 1093/2010, shall prepare and submit a report to the parent undertakings or institution subject to consolidated supervision and to the resolution authorities of the subsidiaries. The report shall be prepared ~~in consultation~~together with the competent authorities, and shall analyse the substantive impediments to the effective application of the resolution tools and the exercising of the resolution powers ~~in relation to the group~~. The report shall also recommend any measures that, in the authorities' view, are necessary or appropriate to remove those impediments.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 5 – subparagraph 2

~~EBA may on its own initiative assist the resolution authorities in reaching an agreement in accordance with Article 19 of Regulation (EU) No 1093/2010.~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 6 – subparagraph 1

In the absence of a joint decision within four months from the date of submission of the report referred to in paragraphs 1 or 2, the group level resolution authority shall ~~make its own decision on the appropriate measures to be taken in accordance with Article 14(3) in relation to the group as a whole~~consult EBA at the request of any other authority concerned or on its own initiative. In this case EBA may carry out non-binding mediation in accordance with Article 31(c) of Regulation (EU) No 1093/2010. All the authorities involved shall then defer their decisions pending the conclusions of the non-binding mediation. If as a result of the mediation process no agreement has been reached by the competent authorities within one month, each authority may take its own decisions with respect to institutions in their jurisdiction. Where an authority makes such decisions, it must consider the impact of that action on financial stability in other Member States.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 6 – subparagraph 2

The decision shall be set out in a document containing a full reasoning and shall take into account the views and reservations of the other resolution authorities expressed during the four months period. The decision shall be provided to the parent undertaking or institution which is subject to consolidated supervision by the group level resolution authority.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 6 – subparagraph 3

~~The decision referred to in the first subparagraph shall be recognised as conclusive and applied by the competent authorities in the Member States concerned.~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 15 – paragraph 6 – subparagraph 4

Where, at the end of the four-month period, any of the resolution authorities concerned has referred the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010, the group level resolution authority shall defer its decision and await any decision that EBA may take in accordance with Article 19(3) of that Regulation. EBA shall take its decision within one month and the four- month period shall be deemed the conciliation period within the meaning of that Regulation. The subsequent decision of the group level resolution authority shall be in conformity with the decision of EBA. The matter shall not be referred to EBA after the end of the four month period or after a joint decision has been reached.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 17 – paragraph 5

5. In the absence of a joint decision between the competent authorities within four months, the consolidating supervisor shall ~~make its own decision on~~ consult EBA at the request of any other a~~pplication. The decision shall be set out in a document containing the full reasoning and shall take~~uthority concerned or on its own initiative. In this case EBA may carry out non-binding mediation into account the views and reservations of the other competent authorities expressed during the four-month period. The consolidating supervisor shall notify the decision to the applicant and the other competent authoritiesrdance with Article 31(c) of Regulation (EU) No 1093/2010. All the authorities involved shall then defer their decisions pending the conclusions of the non-binding mediation.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 17 – paragraph 6

6. If, at the end of the four-month period, any of the competent authorities concerned has referred the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010, the consolidating supervisor shall defer its decision and await any decision that EBA may take in accordance with Article 19(3) of that Regulation, and shall take its decision in confs a result of the mediation process no agreement has been reached by the competent authorities within one month, each authority may take its own decisions with respect to institutions in their jurisdiction. Where an authormity with the decision of EBA. The four-month period shall be deemed the conciliation period within the meaning of that Regulation. EBA shall take its decision within one month. The matter shall not be referred to EBA after the end of the four-month period or after a joint decision has been reachedmakes such decisions, it must consider the impact of that action on financial stability in other Member States.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 21 – paragraph 4

4. Where the consolidating supervisor or the competent authority responsible for the entity receiving support has objections regarding the decision to prohibit or restrict the financial support, they may refer the matter to EBA and request its assistance in accordance with Article 19 of Regulation 1093/2010. In that case, EBA may act in accordance with the powers conferred on it by that Article. By way of derogation from the time limit provided for by Article 39, paragraph 1 of Regulation 1093/2010, EBA shall take any decision in accordance with Article 19(3) of Regulation 1093/2010 within 48 hours.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 23 – paragraph 2 – subparagraph 1

EBA shall develop draft implementing ~~technical standard~~guidelines in order to ensure consistent application of the measures provided for in paragraph 1 of this Article.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 23 – paragraph 2 – subparagraph 2

EBA shall submit those draft implementing ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 23 – paragraph 2 – subparagraph 3

~~Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010.~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 25 – paragraph 3

~~3. EBA may on its own initiative assist the competent authorities in reaching an agreement in accordance with Article 19 of Regulation (EU) No 1093/2010.~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 25 – paragraph 5 – subparagraph 2

Where, at the end of the five-day period, any of the competent authorities concerned has referred the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010, the consolidating supervisor and the other competent authorities shall defer their decisions and await any decision that EBA may take in accordance with Article 19(3) of that Regulation, and shall take their decision in conformity with the decision of EBA. The five-day period shall be deemed the conciliation period within the meaning of that Regulation. EBA shall take its decision within five days. The matter shall not be referred to EBA after the end of the five-day period or after a joint decision has been reached.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 26 – paragraph 2 – point b

(b) to avoid significant adverse effects on financial stability of each Member State and the European Union as a whole, including by preventing contagion, and maintaining market discipline;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 28

~~Article 28~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 29 – paragraph 1 – point c

(c) senior management (as a whole or particular representatives) of the institution under resolution is replaced;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 29 – paragraph 2

2. ~~Where an institution is a~~In the case of the group entity, the group resolution authorit~~ies~~y shall apply the resolution tools and exercise resolution powers towards the parent undertaking in a way that minimises the impact on affiliated institutions and on the group as a whole and minimises the adverse effect on financial stability ~~in the Union and,~~ in particular~~, in the~~ countries where the group operates and in the Union as a whole.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 30 – paragraph 7 – subparagraph 1 – introductory part

EBA shall develop draft regulatory ~~technical standard~~guidelines to specify the following criteria for the purposes of paragraphs 1 and 2 of this Article, and for the purposes of Article 66:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 30 – paragraph 7 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 30 – paragraph 7 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 33 – paragraph 4 – subparagraph 1

EBA shall develop draft regulatory ~~technical standard~~guidelines to specify the factual circumstances amounting to a material threat and the elements related to the effectiveness of the sale of business tool provided for in points (a) and (b) of paragraph 3.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 33 – paragraph 4 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 33 – paragraph 4 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 35 – paragraph 1 – point c

(c) the bridge institution is authorised in accordance with Directive 2006/48/EC or Directive 2004/39/EC, as applicable, and has the necessary authorisation under the applicable national law to carry on the activities or services that it acquires by virtue of a transfer made pursuant to Article 56 of this Directive;deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 38 – paragraph 2 – subparagraph 1 – point d

~~(d) liabilities with an original maturity of less than one month;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 40

~~Article 40~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 44 – paragraph 4 – subparagraph 1

EBA shall develop draft regulatory ~~technical standard~~guidelines specifying methodologies and the principles referred to in points (a) and (b) of paragraph 3 on the valuation of liabilities arising from derivatives.:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 44 – paragraph 4 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission by within twelve months from the entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 44 – paragraph 4 – subparagraph 3

~~Power is~~ delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph of this Directive in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 47 – paragraph 10 – subparagraph 1 – introductory part

EBA shall develop draft regulatory ~~technical standard~~guidelines to specify further:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 47 – paragraph 10 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 47 – paragraph 10 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 49 – paragraph 1

1. Member States shall, in appropriate cases, require individual institutions to maintain at all times sufficient authorised share capital so that, in the event that the resolution authority exercised the powers referred to in points (f), (g) and (h) of Article 56(1) in relation to an institution or its subsidiaries, the institution is not be prevented from issuing sufficient new shares or instruments of ownership to ensure that the conversion of liabilities into ordinary shares or other instruments of ownership could be carried out effectively.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 57 – paragraph 1 – point c

~~(c) discontinue the admission to trading on a regulated market as defined in Article 4(14) of Directive 2004/39/EC or the official listing of financial instruments pursuant to Directive 2001/34/EC;~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 58 – paragraph 5 – subparagraph 1

EBA shall develop draft regulatory ~~technical standard~~guidelines to specify the services or facilities that are necessary to enable a recipient to operate effectively a business transferred to it.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 58 – paragraph 5 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 58 – paragraph 5 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first sub-paragraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 59 – paragraph 1

1. Member States shall ensure that, where a transfer of shares, other instruments of ownership, or assets, rights or liabilities includes assets that are located in a Member State other than the State of the resolution authority or rights or liabilities under the law of a Member State other than the State of the resolution authority, the transfer has effect in or under the law of that other Member State.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 63 – paragraph 7 – subparagraph 1 – introductory part

EBA shall develop draft regulatory ~~technical standard~~guidelines specifying the following elements for the purposes of paragraph 6:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 63 – paragraph 7 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 63 – paragraph 7 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 74 – paragraph 8 – subparagraph 1 – introductory part

EBA shall develop draft regulatory ~~technical standard~~guidelines in order to specify the procedures, contents and conditions related to the following requirements:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 74 – paragraph 8 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 74 – paragraph 8 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 76 – paragraph 5 – subparagraph 1

EBA shall develop draft implementing ~~technical standard~~guidelines to specify how information should be provided in summary or collective form for the purposes of paragraph 2.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 76 – paragraph 5 – subparagraph 2

EBA shall submit those draft implementing ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 76 – paragraph 5 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the implementing technical standards referred to in the first sub- paragraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 3 – subparagraph 1

The public bodies participating in the colleges shall cooperate closely. The group level resolution authority shall coordinate all activities of resolution colleges and convene and chair all its meetings. The group level resolution authority shall keep all members of the college and EBA fully informed in advance of the organisation of such meetings, of the main issues to be discussed and of the activities to be considered. ~~The group level resolution authority shall decide which authorities and ministries should participate in particular meetings or activities of the college, on the basis of the specific needs.~~ The group level resolution authority shall also keep all the members of the college informed in a timely manner, of the actions and decisions taken in those meetings or the measures carried out.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 3 – subparagraph 2

The decision of the group level resolution authority shall take account of the relevance of the issue to the discussed, the activity to be planned or coordinated and the decisions to be taken for those resolution authorities, in particular the potential impact on the stability of the financial system in the Member States concerned.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 6

6. Notwithstanding paragraph 2, for the purposes of performing the tasks referred to in point (e) of the second subparagraph of paragraph 1 the resolution authority or authorities of each Member State in which a subsidiary is established shall participate at the meetings or activities of the resolution college.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 9 – subparagraph 1

EBA shall develop draft regulatory ~~standard~~guidelines in order to specify the operational functioning of the resolution colleges for the performance of the tasks provided for in paragraphs 1, 3, 5, 6 and 7.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 9 – subparagraph 2

EBA shall submit those draft regulatory ~~technical standard~~guidelines to the Commission within twelve months from the date of entry into force of this Directive.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 80 – paragraph 9 – subparagraph 3

~~Power is~~ delegated ~~to the Commission to adopt the regulatory standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.~~

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 1 – introductory part

1. Where a group resolution authority or a resolution authority decides, or is notified pursuant to Article 74(3), that an institution that is a subsidiary in a group is failing or likely to fail, that authority shall notify the following information without delay to the group level resolution authority, if different, and to the resolution authorities that are members of the resolution college for the group in question:

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 2

2. On receiving a notification under paragraph 1, the group level resolution authority~~, in consultation with~~ and the other members of the relevant resolution college, shall assess the likely impact of the failure of the institution in question, or the resolution action or other measures notified in accordance with point (b) of paragraph 1, on the group or on affiliated institutions in other Member States.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 3

3. If the group level resolution authority, a~~fter consultation with~~nd the other resolution authorities in accordance with paragraph 2, assesses that the failure of the institution in question, or the resolution action or other measures notified in accordance with point (b) of paragraph 1, would not have a detrimental impact on the group or on affiliated institutions in other Member States, the resolution authority responsible for that institution may take the resolution action or other measures that it notified in accordance in accordance with point (b) of paragraph 1.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 5 – point a

(a) outline the resolution actions that ~~should~~are recommended to be taken by the relevant resolution authorities in relation to the Union parent undertaking or particular group entities with the objective of preserving the value ~~of the group as a whole~~, minimising the impact on financial stability in the Member States in which the group operates and minimising the use of extraordinary public financial support;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 5 – point c

~~(c) establish a financing plan. The financing plan shall take into account the principles for sharing responsibility as established in accordance with point (e) of Article 11(3).~~deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 6

6. ~~If any member of t~~Whe re~~solution college disagrees with the group resolution scheme proposed by the group level resolution authority and considers that it needs to~~ a group resolution scheme has been proposed in accordance with paragraph 4, resolution authorities may take independent resolution actions or measures, other than those proposed in the scheme, in relation to an institution or group ~~entit~~in their jurisdiction, where they reasonably consider that such action or measures are necessary for reasons of domestic financial stability, Where an authority ma~~y refer within 24 hours the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010~~kes such decisions, it must consider the impact of that action on financial stability in other Member States.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 7

7. By way of derogation from Article 19 (2) of Regulation (EU) No 1093/2010, EBA shall take a decision within 24 hours. The subsequent action or measure of the resolution authority shall be in conformity with the decision of EBA.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 83 – paragraph 8

8. Where a group level resolution authority decides, or is notified pursuant to Article 74(3), that a Union parent undertaking for which it is responsible is failing or likely to fail, it shall notify the information referred to in points (a) and (b) of paragraph 1 of this article to resolution authorities that are members of the resolution college of the group in question. The resolution actions for the purposes of point (b) of paragraph 1 of this Article may include a group resolution scheme drawn up in accordance with paragraph 5 of this Article.deleted

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 88 – paragraph 3 – point b

(b) the assessment of the resolvability of such institutions ~~and groups,~~ in accordance with Article 13 and similar requirements under the law of the relevant third countries;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 88 – paragraph 5 – point d

(d) early warning to or consultation of parties to the cooperation arrangement before taking any significant action under this Directive or relevant third country law affecting the institution ~~or group~~ to which the arrangement relates;

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 97 – paragraph 2 – subparagraph 1

Member States shall ensure that financing arrangements under their jurisdiction ~~are obliged~~have the right to lend to other financing arrangements within the Union in the circumstances specified under paragraph 1.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 97 – paragraph 2 – subparagraph 2

Subject to the first subparagraph, national financing arrangements shall not ~~be obliged to~~ lend to another national financing arrangement in those circonumstances when the resolution authority of the Member State of the financing arrangement considers that it would not have sufficient funds to finance any foreseeable resolution in the near future. In any case they should ~~not be obliged to~~ lend no more than half of the funds that the national financing arrangement has available at the moment when the borrowing request is formalised.

2012/12/20
Committee: ECON

2012/0150(COD)

Proposal for a directive
Article 98 – paragraph 2

2. For the purposes of paragraph 1, ~~the group level resolution authority, in consulta~~if necessary before taking any resolution action to, the resolution authorities of the institutions that are part of the group, shall e~~stablish, if necessary before taking any resolution action,~~ndeavour to reach a joint decision on establishment of a financing plan determining the total financial needs for the financing of the group resolution as well as the modalities for that financing. In the absence of a joint decision between resolution authorities, each resolution authority shall make its own decision on the application of the financing plan on the entity in its jurisdiction.

2012/12/20
Committee: ECON

2012/0150(COD)