13 Amendments of Peter SIMON related to 2013/2021(INI)
Amendment 12 #
Motion for a resolution
Recital B
Recital B
B. whereas in the five years since the 2008 global economic and financial crisis, the EU economy has remained in a state of recession, with Member States providing subsidies and implicit guarantees to banks; whereas the vicious circle involving the solvency of states and banks must be broken once and for all;
Amendment 30 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas profits in the financial sector were often privatised but risks and losses were nationalised; whereas in a social market economy, risk and liability must go hand in hand;
Amendment 82 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas decentralised local and regional institutions within the banking sector in the Member States have shown themselves to be stable and beneficial in terms of financing the real economy;
Amendment 91 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas supervisory and resolution authorities must be given the requisite authority to be able effectively to remove impediments to the resolvability of credit institutions and the banks must be forced to prove their resolvability; whereas the introduction of compulsory recovery and resolutions regimes provides an opportunity to influence the banking structure, reduce the complexity of institutions and restrict or terminate business sectors and products;
Amendment 102 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the EU banking sector faces far-reaching structural changes resulting from changes in the market situation and comprehensive regulatory reforms such as implementation of the Basel III rules;
Amendment 177 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Considers that the core principle of banking reform must be to deliver a safe, stable and efficient banking system that serves the needs of the real economy, customers and consumers; takes the view that structural reform must stimulate economic growth by supporting the provision of credit to the economy, in particular to SMEs and start-ups, provide greater resilience against potential financial crises, restore trust and confidence in banks, harmonise liability and risk and remove risks to public finances;
Amendment 196 #
Motion for a resolution
Paragraph 7
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 activities, improve corporate governance, create a responsible remuneration system, allow effective bank resolution and recovery, reinforce bank capital and deliver credit and provide important service functions to the real economy;
Amendment 229 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to come forward with a proposal for mandatory separation of banks’the retail and investment activities of those banks which engage in significant commercial activity;
Amendment 247 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent and credible ‘ring fence’ around bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view that in the event of a bank failure, the ring fence must ensure that the retail entity continues business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entity; considers a holding structure to be one way of ensuring that the requisite ring fence is put in place under one roof; urges the Commission to investigate how the joint and several liability of individual business units can be effectively brought to an end and economies of scope and scale put into practice with a holding structure in place;
Amendment 280 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Urges the Commission to investigate which commercial activities should be permitted for banks, and on what scale, to enable them effectively to support the real economy and to ensure the stability of individual institutions and of the financial sector overall;
Amendment 346 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the Commission to examine the extent to which the Volcker Rules applied in the USA and the recommendations of the Vickers Commission which are implemented in the UK could be applied EU-wide; considers it necessary to establish a separate EU banking system which takes into account national structures and social models which have evolved over time;
Amendment 388 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Urges the Commission to assist in reaching an agreement on the proposed Deposit Guarantee Scheme Directive and to increase consumer protection by introducing depositor preference.
Amendment 470 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Urges the Member States to ensure that their national supervisors havcreate the clear objective of promotingonditions for effective competition in their banking sectors in order to create greater diversity and customer- orientation;