20 Amendments of Vicky FORD related to 2012/2151(INI)
Amendment 8 #
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
- having regard to the G-20 Leaders' Statement following the Los Cabos Summit of 18 and 19 June 2012 as regards the need to implement fully the Basel III standards according to the agreed timelines;
Amendment 224 #
Motion for a resolution
Recital AJ
Recital AJ
AJ. whereas the European Parliament has repeatedly asserted that there is an urgent need for additional and far-reaching measures to solve the crisis in the banking sector; whereas a distinction should be made between short-term measures to stabilise an acute bank crisis situation and long-term measures aimed at the realisation of a fully opincluding the reform of banking practices and meeting the G- 20 commitment to the timely, full and consistent implementation of international European banking union; ly agreed rules on bank capital, liquidity and leverage, together with improved supervision of the banking sector;
Amendment 277 #
Motion for a resolution
Recital AT a (new)
Recital AT a (new)
ATa. whereas the consequences of the establishment of a euro area supervisory authority on non-euro area Member States should be taken into account;
Amendment 325 #
Motion for a resolution
Recital BC a (new)
Recital BC a (new)
BCa. whereas in certain jurisdictions alternative methods to funded deposit guarantee schemes, such as depositor preference or top-down recapitalisation mechanisms may provide appropriate and effective ways of protecting depositors and ensuring financial stability;
Amendment 377 #
Motion for a resolution
Recital BK a (new)
Recital BK a (new)
BKa. whereas it is essential that any proposal for a new single recovery and resolution mechanism for the euro area respects and has regard for the maintenance of financial stability in all parts of the Union, and in particular is sensitive to the nature of intra-group arrangements and financial transfers within cross-border banking groups, as well as the relationship between "home" and "host" Member States, some of which may be outside the euro area;
Amendment 625 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 1
Annex – part 1 – point 1.1 – paragraph 1
The legislative act to be adopted should create a high-quality single Europeuro arean supervisory mechanism within the ECB (European supervisor) to ensure the effective application of prudential rules, risk control and crisis prevention concerning credit institutions and other financial institutions throughout the Union, which are consistent with internationally agreed principles on bank capital, liquidity and leverage.
Amendment 635 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 2
Annex – part 1 – point 1.1 – paragraph 2
The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European supervisor, while respecting the interests of Member States whose currency is not the euro.
Amendment 637 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 4
Annex – part 1 – point 1.1 – paragraph 4
The proposal should be subject to full democratic scrutiny by the European Parliament within the boundaries of the Treaty on the Functioning of the European Union.
Amendment 640 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 5
Annex – part 1 – point 1.1 – paragraph 5
Amendment 643 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 6
Annex – part 1 – point 1.1 – paragraph 6
The proposal should ensure that all tasks of EBA listed in Regulation (EU) No 1093/2010 continue to be exercised at Union level. and that the proposals are consistent with the sound functioning of the European Supervisory Authorities as envisaged in Regulation (EU) No 1093/2010.
Amendment 654 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9
Annex – part 1 – point 1.1 – paragraph 9
The European supervisor [i.e. the ECB] should have the competence and responsibility to:
Amendment 658 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 – indent 1
Annex – part 1 – point 1.1 – paragraph 9 – indent 1
- supervise all financial institutions within the countries included in the system but with a clear division of operational responsibilities between the European and national supervisors depending on the size and nature of banks and the nature of the supervisory taskECB's assessment of the risks posed by the supervised institutions;
Amendment 663 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 – indent 1 a (new)
Annex – part 1 – point 1.1 – paragraph 9 – indent 1 a (new)
– act in a way that is consistent with the need to maintain the unity and integrity and international competitiveness of the internal market, for example, to ensure that no barriers to competition exist between Member States;
Amendment 671 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 – indent 3
Annex – part 1 – point 1.1 – paragraph 9 – indent 3
– protect the stability of all parts of the financial system of participating Member States, the transparency of markets and financial products and the protection of depositors and investors;
Amendment 693 #
Motion for a resolution
Annex – part 1 – point 1.2 – paragraph 2
Annex – part 1 – point 1.2 – paragraph 2
The proposal should create a single Eeurop arean deposit guarantee fund (EDGF) and ensure that the level of funds available at Unioneuro area level are adequate to provide a high level of protection to eligible deposits, while recognising that in certain jurisdictions both within and outside the Union, alternative methods such as depositor preference and top-down recapitalisation mechanisms may provide alternative appropriate and effective ways of protecting depositors and that such alternatives may also meet objectives such as limiting the need to use public money in a restructuring. The EDGF should cover all euro area banks in order to guarantee a level playing field and avoid deposit flight from uncovered to covered financial institutions and provide for other Member States whose currency is not the euro to voluntarily opt-in to these arrangements.
Amendment 719 #
Motion for a resolution
Annex – part 1 – point 1.3 – title
Annex – part 1 – point 1.3 – title
1.3 relating to a Eeurop arean recovery and resolution scheme
Amendment 725 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 2
Annex – part 1 – point 1.3 – paragraph 2
The legislative act to be adopted should update and supplement the current proposal for a directive establishing a framework for the recovery and resolution of credit institutions and investment firms in order to create a European scheme for the application of resolution measures to institutions subject to direct supervision under the single supervisory mechanism. The legislative act should be sensitive to the nature of intra-group arrangements and financial transfers within cross- border banking groups, and to the relationship between "home" and "host" Member States, some of which may be outside the euro area.
Amendment 730 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 3
Annex – part 1 – point 1.3 – paragraph 3
A body at European level should be established or designated to exercise the required resolution tools in respect of those institutions in the euro area (ERRA). This body should enjoy a wide independence. Its head should be appointed after confirmation by the European Parliament and there should be provisions for other Member States whose currency is not the euro to voluntarily opt- in to these arrangements.
Amendment 732 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 4
Annex – part 1 – point 1.3 – paragraph 4
The ERRA fund should be pan-European, funded ex-ante by the institutions concerned, and separate from deposit-guarantee schemes.
Amendment 741 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 5
Annex – part 1 – point 1.3 – paragraph 5
The euro area resolution scheme should have a strong financial structure built on contributions from industry with public money only serving as an ultimate backstop. However, participating Member States should have an obligation to ensure that the fund is of an adequate size.