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78 Amendments of Alain CADEC related to 2016/0360A(COD)

Amendment 191 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Recital 13
(13) The Basel Committee is currently considering the introduction of a leverage ratio surcharge for globally systemically important banks (G-SIBs). The final outcome of the Basel Committee's calibrFor institutions that are designated globally systemically important institutions (G-SIIs) because of their size, connectivity, complexity, irreplaceable nature or global relevance, a leverage ratio surcharge should be introduced, since G-SIIs in financial distress permanently weaken the entire financial system and this could cause a new credit crunch in the Union. Because of this danger to the financial system and to the financing of the real economy, an implicit guarantee for G-SIIs emerges based on the expectation that the state will rescue them. This can mean that G-SIIs reduce their market discipline and accept too much risk, which in turn makes future distress for the G-SII even more probable. European legislation work should give rise to a discussion on the appropriate calibration of the leverage ratio for systemically important EU institutions. take into account the strict leverage ratios which already exist in other jurisdictions in order to effectively counteract these negative externalities. Furthermore, a surcharge of this kind for G-SIIs is appropriate since G-SIIs in the Union already significantly exceed a leverage ratio of 4%. In the interests of a level playing field and in line with leverage ratios presently maintained by G-SIIs, the leverage ratio for G-SIIs should therefore be raised by 50% of a G-SII’s higher-loss absorbency risk-weighted requirements, in addition to the minimum threshold of 3%.
2018/02/02
Committee: ECON
Amendment 243 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point j
Regulation (EU) 575/2013
Article 4 – paragraph 1 – point 144 a (new)
(144a) Irrespective of the accounting classification, leasing contracts where substantially all risks and rewards of an underlying asset are transferred to the lessee are to be classified as finance lease. All other leases are classified as operating lease.
2018/02/02
Committee: ECON
Amendment 265 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Regulation (EU) 575/2013
Article 7 – paragraph 2 – point b – point iii
(iii) the guarantee is fully collateralised for at leastup to 50% of its amount through a financial collateral arrangement as defined in point (a) of Article 2(1) of Directive 2002/47/EC of the European Parliament and of the Council27 ; __________________ 27 Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements (OJ L 168, 27.6.2002, p. 43).
2018/02/02
Committee: ECON
Amendment 280 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) 575/2013
Article 8 – paragraph 1 – subparagraph 1 a (new)
This paragraph does not apply to Title IV of Part Six.
2018/02/02
Committee: ECON
Amendment 289 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) No 575/2013
Article 8 – paragraph 2 – subparagraph 1 a (new)
This paragraph does not apply to Title IV of Part Six.
2018/02/02
Committee: ECON
Amendment 294 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) 575/2013
Article 8 – paragraph 3 – subparagraph 1 a (new)
This paragraph does not apply to Title IV of Part Six.
2018/02/02
Committee: ECON
Amendment 296 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) 575/2013
Article 8 – paragraph 3 a (new)
3 a. An authority that is competent for supervising on an individual basis an institution and all or some of its subsidiaries having their head offices situated in the same or different Member States than the institution's head office shall waive in full the application of Title IV Part Six to that institution and to all of these subsidiaries and supervise them as a single liquidity sub-group.
2018/02/02
Committee: ECON
Amendment 317 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 14
Regulation (EU) 575/2013
Article 36 – paragraph 1 – point b
"(b) intangible assets;" (14) In paragraph 1 of Article 36, point (b) is replaced by the following: "(b) intangible assets with the exception of right of use assets stemming from a leasing contract where the institution is the lessee other than leases of intangible assets ; with the exception of software." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?uri=CELEX:32013R0575&qid=1516908257263)
2018/02/02
Committee: ECON
Amendment 453 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 36
Regulation (EU) No 575/2013
Article 81 – paragraph 1 – point a – point ii
(ii) an undertaking that is subject by virtue of applicable national law to thcomparable requirements of this Regulation and Directive 2013/36/EU;
2018/02/05
Committee: ECON
Amendment 482 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 39 – point a a (new)
Regulation (EU) No 575/2013
Article 92 – paragraph 1 – point d a (new)
(aa) in paragraph 1, the following point (da) is added: "(da) By derogation from point d, an additional leverage ratio buffer requirement will be set at 50% of a G- SII’s higher-loss absorbency risk- weighted requirements. For example, institutions which are G-SIIs subject to a 2% higher-loss absorbency requirement would be subject to a 1% additional leverage ratio buffer requirement."
2018/02/05
Committee: ECON
Amendment 553 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 52 a (new)
Regulation (EU) No 575/2013
Article 113 – paragraph 6 – point d
(52a) In paragraph 6 of Article 113, point (d) is replaced by the following: "(d) the counterparty is established in the same Member State as the institution;" or both are established in Member States that belong to the Banking Union;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?uri=CELEX:32013R0575&qid=1516908257263)
2018/02/05
Committee: ECON
Amendment 585 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 56 a (new)
Regulation (EU) No 575/2013
Article 134 – paragraph 7 a (new)
(56a) In Article 134, the following new paragraph 7a is added: "7a. Where an institution is the lessee under an operating lease contract, the resulting right of use asset shall have an exposure value of 0."
2018/02/05
Committee: ECON
Amendment 591 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 57 a (new)
Regulation (EU) No 575/2013
Article 166 – paragraph 1 a (new)
(57a) In Article 166, the following paragraph 1 a is inserted: "1a. Where an institution is the lessee under an operating lease contract, an exposure value of 0 shall apply to the resulting right of use asset."
2018/02/05
Committee: ECON
Amendment 638 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) 575/2013
Article 325 b a – paragraph 1 – point c
(c) the trading desks have met the back-testing requirements referred to in Article 325bg(1) for the immediately preceding 250 business days;deleted
2018/02/05
Committee: ECON
Amendment 647 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f
Article 325bf Assessment of the modellability of risk factors [...]deleted
2018/02/05
Committee: ECON
Amendment 648 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 1
1. Institutions shall assess, on a monthly basis, the modellability of all the risk factors of the positions attributed to trading desks for which they have been granted the permission referred to in Article 325ba(1) or are in the process of being granted that permission.deleted
2018/02/05
Committee: ECON
Amendment 649 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 2
2. Andeleted the institution shall consider a risk factor of a trading book position as modellable where all the following conditions are met: (a) least 24 verifiable prices which contained that risk factor over the preceding 12- months period; (b) between the dates of two consecutive observations of verifiable prices identified by the institution in accordance with point (a); (c) relationship between the value of the risk factor and each verifiable price identified by the institution in accordance with point (a).s identified at there is no more than one month there is a clear and apparent
2018/02/05
Committee: ECON
Amendment 651 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 3
3. For the purposes of paragraph 2, a verifiable price means any one of the following: (a) transaction to which the institution was one of the parties; (b) transaction that was entered into by third parties and for which price and trade date are publicly available or have been provided by a third party; (c) the price obtained from a committed quote provided by a third party.deleted the market price of an actual the market price of an actual
2018/02/05
Committee: ECON
Amendment 652 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) 575/2013
Article 325 b f – paragraph 4
4. For the purposes of points (b) and (c) of paragraph 3, institutions may consider a price or a committed quote provided by a third party as a verifiable price, provided that the third party agrees to provide evidence of the transaction or a committed quote to competent authorities upon request.deleted
2018/02/05
Committee: ECON
Amendment 655 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 5
5. An institution may identify a verifiable price for the purpose of point (a) of paragraph 2 for more than one risk factor.deleted
2018/02/05
Committee: ECON
Amendment 656 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 6
6. Institutions shall consider risk factors derived from a combination of modellable risk factors as modellable.deleted
2018/02/05
Committee: ECON
Amendment 657 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 7
7. Where an institution considers a risk factor to be modellable in accordance with paragraph 1, the institution may use data other than the verifiable prices it used to prove that the risk factor is modellable in accordance with paragraph 2 to calculate the scenarios of future shocks applied to that risk factor for the purpose of calculating the partial expected shortfall referred to in Article 365 as long as that data inputs fulfils the relevant requirements set out in Article 325bd.deleted
2018/02/05
Committee: ECON
Amendment 658 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 8
8. Institutions shall consider as non- modellable a risk factor that does not fulfil all the conditions set out in paragraph 2 and shall calculate the own funds requirements for that risk factor in accordance with Article 325bl.deleted
2018/02/05
Committee: ECON
Amendment 659 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 9
9. Institutions shall consider risk factors derived from a combination of modellable and non-modellable risk factors as non-modellable.deleted
2018/02/05
Committee: ECON
Amendment 661 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 10
10. By way of derogation from paragraph 2, competent authorities may permit an institution to consider a risk factor that meets all of the conditions in paragraph 2 as non-modellable for a period of less than one year.deleted
2018/02/05
Committee: ECON
Amendment 664 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b h
Article 325 bh Profit and loss attribution requirement [...]deleted
2018/02/05
Committee: ECON
Amendment 665 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b h – paragraph 1
1. For any given month, an institution's trading desk meets the profit and loss (P&L) attribution requirements for the purpose of Article 325ba(1) where that trading desk complies with the requirements set out in this Article.deleted
2018/02/05
Committee: ECON
Amendment 666 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b h – paragraph 2
2. The P&L attribution requirement shall ensure that the theoretical changes in a trading desk portfolio's value, based on the institution's risk-measurement model, are sufficiently close to the hypothetical changes in the trading desk portfolio's value, based on the institution's pricing model.deleted
2018/02/05
Committee: ECON
Amendment 667 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b h – paragraph 3
3. An institution's compliance with the P&L attribution requirement shall lead, for each position in a given trading desk, to the identification of a precise list of risk factors that are deemed appropriate for verifying the institution's compliance with the backtesting requirement set out in Article 325bg.deleted
2018/02/05
Committee: ECON
Amendment 668 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b h – paragraph 4
4. EBA shall develop draft regulatory technical standards to further specify: (a) developments, the technical criteria that shall ensure that the theoretical changes in a trading desk portfolio's value is sufficiently close to the hypothetical changes in the trading desk portfolio's value for the purposes of paragraph 2; (b) included in the theoretical and hypothetical changes in a trading desk portfolio's value for the purpose of this Article. EBA shall submit those draft regulatory technical standards to the Commission by [six months after the entry into force of this Regulation]. 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.deleted in light of international regulatory the technical elements that shall be
2018/02/05
Committee: ECON
Amendment 670 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b i
Article 325 bi Requirements on risk measurement [...]deleted
2018/02/05
Committee: ECON
Amendment 671 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
1. [...]deleted
2018/02/05
Committee: ECON
Amendment 672 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b i – paragraph 2
2. Institutions may use empirical correlations within broad risk factor categories and, for the purposes of calculating the unconstrained expected shortfall measure as referred to in Article 325bc(1), across broad risk factor categories only where the institution's approach for measuring those correlations is sound, consistent with the applicable liquidity horizons, and implemented with integrity.deleted
2018/02/05
Committee: ECON
Amendment 674 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b j – paragraph 2 – subparagraph g
(g) the verification process the institution employs to evaluate back- testing requirements and P&L attribution requirements that are conducted in order to assess the internal risk-measurement models' accuracy.deleted
2018/02/05
Committee: ECON
Amendment 679 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b n – paragraph 2
2. EBA shall issue guidelines on the requirements of Articles 325bo, 325bp and 325bq by [two yearsix months after the entry into force of this Regulation].
2018/02/05
Committee: ECON
Amendment 687 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 91
Regulation (EU) No 575/2013
Article 390 – paragraph 4 – subparagraph 1
Institutions shall calculate exposures arising from contracts referred to in Annex II and credit derivatives directly entered into with a client in accordance with one of the methods set out in Part Three, Title II, Chapter 6, Section 3 to Section 56, as applicable. Institutions with a permission to use the Internal Model Method in accordance with Article 283 may use the Internal Model Method for calculating the exposure value for all transactions for which they have received permission under Article 283.
2018/02/05
Committee: ECON
Amendment 696 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 98 – point a
Regulation (EU) No 575/2013
Article 399 – paragraph 1 – subparagraph 1
An institution shallmay use a credit risk mitigation technique in the calculation of an exposure where it has used this technique to calculate capital requirements for credit risk in accordance with Part Three, Title II and provided it meets the conditions set out in this Article.
2018/02/05
Committee: ECON
Amendment 699 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 99 – point a – point ii a (new)
Regulation (EU) No 575/2013
Article 400 – paragraph 1 – point l a (new)
(la) exposures, including participations or other kinds of holdings, incurred by an institution to its parent undertaking, to other subsidiaries of that parent undertaking or to its own subsidiaries, in so far as those undertakings are covered by the supervision on a consolidated basis to which the institution itself is subject, in accordance with this Regulation, Directive 2002/87/EC or with equivalent standards in force in a third country; exposures that do not meet these criteria, whether or not exempted from Article 395(1), shall be treated as exposures to a third party.
2018/02/05
Committee: ECON
Amendment 700 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 100
Regulation (EU) No 575/2013
Article 401 – paragraph 2
2. For the purposes of the first paragraph, institutions shall use the Financial Collateral Comprehensive Method, regardless of the method used for calculating own funds requirements of credit risk.deleted
2018/02/05
Committee: ECON
Amendment 707 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 101
Regulation (EU) No 575/2013
Article 403 – subparagraph 1
Where an exposure to a client is guaranteed by a third party or secured by collateral issued by a third party, an institution shall:.may:
2018/02/05
Committee: ECON
Amendment 717 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 103
Regulation (EU) No 575/2013
Article 411 – point 15 a (new)
(15a) In part VI of this regulation, factoring will be treated as trade finance. “Factoring” means an agreement between a business (Assignor) and a financial entity (Factor) in which the Assignor assigns/sells its Receivables to the Factor and the Factor provides the Assignor with a combination of one or more of the following services with regard to the Receivables assigned: Advance of a percentage of the amount of Receivables assigned, that is generally short term, uncommitted and without automatic roll- over, Receivables management, collection and Credit protection. Usually, the Factor administers the Assignor’s sales ledger and collects the Receivables in its own name. The Assignment can be disclosed to the Debtor.
2018/02/05
Committee: ECON
Amendment 741 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 f – paragraph 2 – point c
(c) covered bonds as referred to in Article 52(4) of Directive 2009/65/EC; and covered bonds that meet the eligibility requirements for the treatment set out in Article 129(4) or (5), as appropriate, where the underlying loans are fully matched funded with the covered bonds issued or where there exists non- discretionary extendable maturity triggers on the covered bonds of one year or more until the term of the underlying loans in the event of refinancing failure at the maturity date of the covered bond, or where national legislation adequately limits refinancing risk for covered bond issuers including through limitations on maturity mismatch between assets and liabilities;
2018/02/05
Committee: ECON
Amendment 748 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
1. By way of derogation from Article 428g and from Chapters 3 and 4 of this Title, competent authorities may on a case- by-case basisshall authorise institutions to apply a higher available stable funding factor or a lower required stable funding factor to assets, liabilities and committed credit or liquidity facilities where all of the following conditions are fulfilled:
2018/02/05
Committee: ECON
Amendment 751 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 h – paragraph 1 – point a – point v a (new)
(va) the counterparty is located within the same Member State or in a different Member State;
2018/02/05
Committee: ECON
Amendment 753 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 h – paragraph 1 – point b
(b) there are reasons to expect that the liability or committed credit or liquidity facility received constitutes a more stable source of funding or that the asset or committed credit or liquidity facility granted requires less stable funding within the one-year horizon of the net stable funding ratio than the same liability, asset or committed credit or liquidity facility with other counterparties;deleted
2018/02/05
Committee: ECON
Amendment 758 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 h – paragraph 1 – point d
(d) the institution and the counterparty are established in the same Member State.deleted
2018/02/05
Committee: ECON
Amendment 762 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 h – paragraph 2
2. Where the institution and the counterparty are established in different Member States, competent authorities may waive the condition set out in point (d) of paragraph 1 where, in addition to the criteria set out in paragraph 1, the following criteria are fulfilled: (a) agreements and commitments between group entities regarding the liability, asset or committed credit or liquidity facility; (b) low funding risk profile; (c) funding receiver has been adequately taken into account in the liquidity risk management of the funding provider. The competent authorities shall consult each other in accordance with point (b) of Article 20(1) to determine whether the additional criteria set out in this paragraph are met.deleted there are legally binding the funding provider presents a the funding risk profile of the
2018/02/05
Committee: ECON
Amendment 777 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 r – paragraph 1 – point a a (new)
(aa) assets that have a residual maturity of less than six months resulting from secured lending transactions and capital market-driven transactions as defined in Article 192(2) and (3), where those assets are collateralised by assets that qualify as Level 1 assets under Chapter 2 of Title II of Delegated Regulation (EU) 2015/61, excluding extremely high quality covered bonds referred to in point (f) of Article 10(1) of that Delegated Regulation , and where the institution would be legally entitled and operationally able to reuse those assets for the life of the transaction, regardless of whether the collateral has already been reused. Institutions shall take those assets into account on a net basis where Article 428e of this Regulation applies;
2018/02/05
Committee: ECON
Amendment 782 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 r – paragraph 1 – point a b (new)
(ab) assets that have a residual maturity of less than six months resulting from secured lending transactions and capital market-driven transactions as defined in Article 192(2) and (3) with regulated financial customers, where the institution would be legally entitled and operationally able to reuse those assets for the life of the transaction, regardless of whether the collateral has already been reused. Institutions shall take those assets into account on a net basis where Article 428e of this Regulation applies;
2018/02/05
Committee: ECON
Amendment 802 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 s – point d a (new)
(da) For all netting sets of derivative contracts subject to margin agreements under which institutions post variation margins to their counterparties, institutions shall apply a 5% required stable funding factor to the absolute market value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative market value.
2018/02/05
Committee: ECON
Amendment 805 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 114
(db) For all netting sets of derivative contracts that are not subject to a regular margin agreements under which institutions post variation margins to their counterparties but which are subject to contractual clauses which could lead to collateral to post, dependent on specific trigger events such as a downgrade for example, institutions shall apply a 5% required stable funding factor to the absolute market value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative market value.
2018/02/05
Committee: ECON
Amendment 829 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 x – paragraph 2
2. For all netting sets of derivative contracts subject to margin agreements under which institutions post variation margins to their counterparties, institutions shall apply a 20% required stable funding factor to the absolute market value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative market value.deleted
2018/02/05
Committee: ECON
Amendment 833 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 x – paragraph 3
3. An institution may replace the stable funding requirement set out in paragraph 2 for all netting sets of derivative contracts subject to margin agreements under which an institution posts variation margins to its counterparty with the amount of required stable funding calculated as the absolute amount of the difference between: (a) for all netting sets with negative market value, gross of collateral posted, and which are subject to a margin agreement under which the institution posts variation margin to its counterparty, the sum of all the risk category Addon(a) calculated in accordance with Article 278(1); (b) for all netting sets with positive market value, gross of collateral received, and which are subject to a margin agreement under which the institution receives variation margin from its counterparty, the sum of all the risk category Addon(a) calculated in accordance with Article 278(1). For the purpose of this calculation and in order to determine the risk position of derivative contracts included in the netting sets referred to in the first sub- paragraph, institutions shall replace the maturity factor calculated in accordance with point (b) of Article 279c(1) by either the maturity factor calculated in accordance with point (a) of Article 279c(1) or by the value of 1.deleted
2018/02/05
Committee: ECON
Amendment 882 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 1 – introductory part
1. By way of derogation from point (a) of Article 429(4), an institution may exclude any of the following exposures from its exposure measure :
2018/02/05
Committee: ECON
Amendment 892 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 1 – point m a (new)
(ma) cash and central banks deposits
2018/02/05
Committee: ECON
Amendment 893 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 1 – point m b (new)
(mb) the Initial Margin posted in segregated accounts
2018/02/05
Committee: ECON
Amendment 894 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 1 – point m c (new)
(mc) Underlying assets of leasing contracts that are classified as an operating lease where the institution is the lessee
2018/02/05
Committee: ECON
Amendment 895 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 2 – introductory part
2. For the purposes of point (d) of paragraph 1, public development credit institution means a credit institution that meets all of the following conditions or is qualified as a promotional or development bank by a European Commission decision:
2018/02/05
Committee: ECON
Amendment 901 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 2 – point b
(b) its activity is limited to advancing specified objectives of financial, social or economic public policy in accordance with the laws and provisions governing that institution, on a non-competitive basis, or to address a market failure. For these purposes, public policy objectives may include the provision of financing for promotional or development purposes to specified economic sectors or geographical areas of the relevant Member State;
2018/02/05
Committee: ECON
Amendment 908 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 2 – point e
(e) it is precluded from acceptingdoes not take covered deposits as defined in point (5) of Article 2(1) of Directive 2014/49/EU or in the national law of Member States implementing that Directive.
2018/02/05
Committee: ECON
Amendment 929 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 c – paragraph 4
4. For the purposes of paragraph 1 of this Article, institutions shall not include collateral received in the calculation of NICA as defined in point 12a of Article 272, except in the case of derivatives contracts with clients where those contracts are cleared by a QCCP.
2018/02/05
Committee: ECON
Amendment 967 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 438 – point d
(d) the total risk weighted exposure amount and the corresponding total own funds requirement determined in accordance with Article 92, to be broken down by the different risk categories set out in Part Three and, where applicable, an explanation of the effect on the calculation of own funds and risk weighted exposure amounts that results from applying capital floors and not deducting items from own funds.
2018/02/05
Committee: ECON
Amendment 968 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 438 – point f
(f) the exposure value and the risk- weighted exposure amount of own fund instruments held in any insurance undertaking, re- insurance undertaking or insurance holding company that the institutions do not deduct from their own funds in accordance with Article 49 when calculating their capital requirements on an individual, sub-consolidated and consolidated basis;deleted
2018/02/05
Committee: ECON
Amendment 969 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 438 – point i
(i) for institutions authorised to use internal models, the hypothetical risk- weighted exposure amounts that would result if the applicable standardised approach was used for the relevant exposures.deleted
2018/02/05
Committee: ECON
Amendment 974 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 446 – title
Article 446 Disclosure of operational risk managementdeleted
2018/02/05
Committee: ECON
Amendment 975 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 446 – paragraph 1 – subparagraph a, b, c
Institutions shall disclose information about their operational risk management including: (a) operational risk over the last ten years, with historical losses broken down by year and a separate identification of the amounts of losses exceeding EUR 1 million; (b) EUR 1 million, the total amounts related to those losses over the last three years, as well as the total amounts of the five largest losses; (c) the calculation of the own fund requirements, broken down per relevant business indicatdeleted the total losses incurred from the number of losses exceeding the indicators and components for.
2018/02/05
Committee: ECON
Amendment 992 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 455 – paragraph 2
2. Where applicable in accordance with Article 104b, institutions shall disclose individually for the main trading desks and on an aggregate basis foron the remainingperimeter of trading desks the following: (a) the hat have been granted internal model approval in accordance with Article 325ba Highest, lowest and mean value over the reporting period of the following items: (ia) unconstrained expected shortfall measure UESt as determined in Article 325bc ba(2)(a) ; (ii) market risks that would be calculated in accordance with Chapter 1a of this Title had the institutions not been granted the permission to use their internal models for the relevant trading desk as determined in Article 325 ba(2)(b). (b) for the expected shortfall models: (i) the number of back testing over shootings over the last 250 business days; (ii) breaches over the last 12 months;the own funds requirements for (b) unconstrained expected shortfall measure UESti for broad risk factor category i as determined in accordance with Article 325.bc the number of P&L attribution
2018/02/05
Committee: ECON
Amendment 1005 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 121
Regulation (EU) No 575/2013
Article 494 – paragraph 2 a (new)
2a. For the purposes of paragraph 3 of Article 72b, until the resolution authority assesses for the first time the elements referred to in points (b) and (c) of Article 45b(3) of Directive 2014/59/EU [NWCO test] and confirms there is no material adverse impact on the resolvability of the institution, liabilities shall qualify as eligible liabilities instruments up to an aggregate amount that does not exceed, until 31 December 2021, 2.5% and, after that date, 3.5% of the total risk exposure amount calculated in accordance with paragraphs 3 and 4 of Article 92, provided that they meet the conditions laid down in points (a) and (b) of Article 72b(3).
2018/02/05
Committee: ECON
Amendment 1007 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 122 a (new)
Regulation (EU) No 575/2013
Article 494 b (new)
(122a) The following Article 494b is inserted after Article 494a: "Article 494b Grandfathering of own funds instruments and eligible liabilities instruments 1. By way of derogation from Articles 51 and 52 of this Regulation, instruments issued prior to [date of entry into force of CRR 2] may qualify as Additional Tier 1 instruments at the latest until [10 years after the date of entry into force of CRR 2], where they meet the conditions laid down in Articles 51 and 52, except for the conditions referred to in points (q) and (r) of Article 52. 2. By way of derogation from Articles 62 and 63, instruments issued prior to [date of entry into force of CRR 2] may qualify as Tier 2 instruments at the latest until [10 years after the date of entry into force of CRR 2] where they meet the conditions laid down in Articles 62 and 63, except for the conditions referred to in points (o) and (p) of Article 63. 3. By way of derogation from Article 72a(1)(a), liabilities issued before prior to [date of entry into force] are considered eligible liabilities provided they meet the criteria of may qualify as eligible liabilities items where they satisfy the conditions laid down in Article 72b, with the exception of the criteria of except for the conditions referred to in points (f) to (m) of Article 72b(2)."
2018/02/05
Committee: ECON
Amendment 1024 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 a – paragraph 1 – point b
(b) the exposure is to an entity which was created specifically to finance or operate (either directly or through affiliates) physical structures or facilities, systems and networks that provide or support essential public services; or to finance the rights to operate such assets or is an economically comparable exposure.
2018/02/05
Committee: ECON
Amendment 1034 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 a – paragraph 1 – point j
(j) the obligor has adequate safeguards to ensure completion of the project according to the agreed specification, budget or completion date; including strong completion guarantees or experienced constructor providing adequate liquidated damages as confirmed by the technical advisor (to be provided by credit worthy counterparts or covered by acceptable LC)”;
2018/02/05
Committee: ECON
Amendment 1040 #
Anne SANDER, Alain CADEC, Alain LAMASSOURE
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 a – paragraph 2 – point a – point iv – indent 3 a (new)
– it is partly regulated or contractually fixed and in addition the project is resilient to downside sensitivities regarding price or volume risk, or a combination of both;
2018/02/05
Committee: ECON
Amendment 1045 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 b – title
Article 501b Own funds requirements for market risksdeleted
2018/02/05
Committee: ECON
Amendment 1046 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 b – paragraph 1
1. Until [date of application + 3 years], institutions that use the approaches set out in Chapters 1a and 1b, Title IV, Part Three to calculate the own funds requirement for market risks shall multiply their own funds requirements for market risks calculated under these approaches by a factor of 65%.deleted
2018/02/05
Committee: ECON
Amendment 1052 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 b – paragraph 2
2. EBA shall monitor the appropriateness of the level of own funds requirement for market risks calculated in accordance with the approaches set out in Chapters 1a and 1b, Title IV, Part Three by institutions in the Union and report to the Commission on the opportunity to change the calibration of these approaches by [date of application + 2 years]. This report shall at least assess: (a) instruments assigned to the trading book of institutions in the Union, whether the level of own funds requirements for market risks calculated by institutions in accordance with the approach set out in Chapters 1a, Title IV, Part Three is excessive as compared to the own funds requirements for market risks calculated by institutions in accordance with the approach set out in point (a) of paragraph 1 of Article 325. (b) instruments assigned to the trading book of institutions in the Union, whether the level of own funds requirements for market risks calculated by institutions in accordance with the approach set out in Chapters 3, Title IV, Part Three is excessive as compared to the own funds requirements for market risks calculated by institutions in accordance with the approach set out Chapters 7, Title IV, Part 3. (c) instruments assigned to the trading book of institutions in the Union, whether the level of own funds requirement for market risks calculated by institutions in accordance with the approach set out in Chapters 2, Title IV, Part Three is excessive as compared to the level of own funds requirement for market risks calculated by institutions in accordance with the approach set out in Chapters 3, Title IV, Part Three.deleted for the most common financial for the most common financial for the most common financial
2018/02/05
Committee: ECON
Amendment 1097 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b a (new)
(ba) The provisions for introducing the new requirements for own funds for market risk in points 47 to 51 and 83 to 88, excluding the requirements on the Profit & Loss attribution requirement and on the modellability of risk factors, as defined in articles 325ba(1)(b), 325bf, 325bh, 325bi(1)(a) and 325bj(2)(g) at the latest of the two dates : – 42 months after the publication of the final EBA technical standards and guidelines defined in Articles 325bg(9), 325bl(4) and 325bn(2) of this Regulation; – four years after entry into force of this Regulation.
2018/02/05
Committee: ECON
Amendment 1098 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b b (new)
(bb) The Commission shall submit to the European Parliament and to the Council a report by [two years after the entry into force]. The report shall cover the approaches set out in Chapters 1a, 1b, 2, 3 and 4 of Title IV, Part Three and in particular international regulatory developments as regards to the Profit & Loss attribution requirement and the modellability of risk factors. The report shall take into account the international regulatory developments and the specificities of financial and capital markets in the Union. The report shall be informed by a proper European impact study. The report shall cover the appropriateness of the calibration of the approaches set out in Title IV, Part Three to calculate the own funds requirements for market risks and evaluate if a refaction factor shall apply to capital requirements for market risk (MRC). Where appropriate, the report should suggest a sustainable framework for the adjustment of internal models by banks and for competent authorities to review them as regards to a hypothetical legislative proposal. Where appropriate, the report shall be accompanied by a legislative proposal amending the calibration of capital requirements for market risk as defined in Title IV, Part Three.
2018/02/05
Committee: ECON
Amendment 1099 #
Anne SANDER, Alain LAMASSOURE, Alain CADEC
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b c (new)
(bc) The application of the provisions in point (ba) shall not result in own funds requirements for market risks calculated according to the approaches set out in Chapters 1a and 1b that are lower than the own funds requirements for market risks calculated according to the approaches set out in Chapters 2, 3, 4 and 5 Title IV, Part Three. Until a date that would be defined in the report that the Commission shall submit to the European Parliament and to the Council by [two years after the entry into force], institutions that use the approaches set out in Chapters 1a and 1b, Title IV, Part Three to calculate the own funds requirement for market risks shall multiply their own funds requirements for market risks calculated under these approaches by the ratio, floored by one, of: (a) The average own fund requirements calculated on a quarterly basis, during the 12 months preceding the application date defined in point (ba), according to the approaches set out in Chapters 2, 3, 4 and 5 Title IV, Part Three (CRR); (b) The own funds requirements calculated on the application date defined in point (ba) according the approaches set out in Chapters 1a and 1b, Title IV, Part Three (CRR2).
2018/02/05
Committee: ECON
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