3 Amendments of Peter SIMON related to 2016/0363(COD)
Amendment 40 #
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In the interests of planning and legal certainty for the markets and for individual institutions and a level playing field for institutions, it is necessary to introduce safeguards, under existing national legislation, for the eligibility of debt instruments issued before the entry into force of this Directive.
Amendment 62 #
Proposal for a directive
Recital 13
Recital 13
(13) It is appropriate for the amendments to Directive 2014/59/EU provided for in this Directive to apply to liabilitieunsecured claims resulting from debt instruments issued on or after the date of application of this Directive and to liabilities still outstanding as of that date. However, for legal certainty purposes and to mitigate transitional costs in as much as possible, Member State should ensure that the treatmentinsolvency ranking of all outstanding liabilities that credit institutions and investment firmunsecured claims resulting from debt instruments that institutions have issued before that date is governed by the laws of the Member States as they were adopted on [31 December 2016]. Outstanding liabilities should thus continue to be subject to the regulatory requirements set out in Directive 2014/59/EU and the relevant national law in the version that was adopted on [31 December 2016]To the extent that certain national laws as adopted on 31 December 2016 could have already addressed the objective of allowing institutions to issue subordinated liabilities, part or all outstanding unsecured claims resulting from debt instruments issued prior to the date of application of this Directive may have the same insolvency ranking as the 'non- preferred' senior debt instruments issued under the conditions of this Directive.
Amendment 92 #
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
Directive 2014/59/EU
Article 108 – paragraph 4 a (new)
Article 108 – paragraph 4 a (new)
4a. Member States which, prior to 31 December 2016 have adopted a national law governing normal insolvency proceedings whereby unsecured claims resulting from debt instruments issued by entities referred to in points (a), (b), (c) and (d) of Article 1(1) are split into two or more different priority rankings or where the priority ranking of unsecured claims resulting from debt instruments is changed in relation to all other ordinary unsecured claims of the same ranking, may provide that debt instruments with the lowest priority ranking among those ordinary unsecured claims have the same ranking as the one of claims that meet the conditions of paragraph 2(b) and (c) and paragraph 3.