Activities of Burkhard BALZ related to 2009/0099(COD)
Plenary speeches (1)
Capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies - Remuneration of directors of listed companies and remuneration policies in the financial services sector (debate)
Amendments (8)
Amendment 99 #
Proposal for a directive – amending act
Recital 15
Recital 15
(15) Banks investing in re-securitisations are required under Directive 2006/48/EC to exercise due diligence also with regard to the underlying securitisations and the non-securitisation exposures ultimately underlying the former. Depending on the complexity of the layers of securitisation structures and depending on the complexity and the diversity (or both) of the non-securitisation exposures that ultimately underlie the re-securitisations, the required due diligence may be impossible or uneconomical (or both) to carry out. This is in particular the case where the ultimate underlying exposures are, for example, leveraged buy-out or project finance debt. InCredit institutions should assess whether exposures in the context of asset backed commercial paper programmes constitute re-securitisation exposures. All positions in asset-backed commercial paper programmes which acquire senior tranches of separate pools of whole exposures from companies where none of theose cases, institutions should not invexposurest in such highly complex re-securitisations. In their review of the required due diligence, competent authorities should devote particular attention to such highly complex securitisations and require their full deduction from capital, unless it has been convincingly demonstrated to their satisfaction that in each individual case of highly complex re-securitisation exposures, the institution has performed the due diligence required by Directive 2006/48/EC, including with regard to the uls a securitisation or re- securitisation exposure and where the first-loss protection for each investment is provided by the seller of the exposure should be excluded from the definition of re-securitimsate underlying exposuresion.
Amendment 115 #
Proposal for a directive – amending act
Article 1 – point 1
Article 1 – point 1
Directive 2006/48/EC
Article 4 – point 40a
Article 4 – point 40a
(40a) 're-securitisation' means a securitisation where one or moremore than 10 % of the underlying exposures as measured by the exposure value meet the definition of a securitisation position;
Amendment 123 #
Proposal for a directive – amending act
Article 1 – point 9
Article 1 – point 9
Directive 2006/48/EC
Article 122b
Article 122b
Amendment 127 #
Proposal for a directive – amending act
Article 1 – point 9
Article 1 – point 9
Directive 2006/48/EC
Article 122b – paragraph 1
Article 122b – paragraph 1
1. Notwithstanding the risk weights for general re-securitisation positions in Annex IX, Part 4, the competent authorities shall require that credit instituThe risk weighted exposure amounts for securitisations apply a 1250 % risk weight to positions in highly complexnd re- securitisations, unless the credit institution has demonstrated to the competent authority for each such re- securitisation position concerned that it has complied with the requirements set out in Article 122a(4) and (5) positions shall be calculated in accordance with in Annex IX, Part 4.
Amendment 131 #
Proposal for a directive – amending act
Article 1 – point 9
Article 1 – point 9
Directive 2006/48/EC
Article 122b – paragraph 2
Article 122b – paragraph 2
2. Paragraph 1 shall apply in respect of positions in new re-securitisations issued after 31 DecemberJanuary 20102. In respect of positions in existing re-securitisations, paragraph 1 shall apply from 31 DecemberJanuary 2014 where new underlying exposures are added or substituted after that date."
Amendment 147 #
Proposal for a directive – amending act
Article 3 – paragraph 1 – subparagraph 1
Article 3 – paragraph 1 – subparagraph 1
1. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by 31 December 2010 at the latestJanuary 2013. They shall forthwith communicate to the Commission the text of those provisions and a correlation table between those provisions and this Directive.
Amendment 197 #
Proposal for a directive – amending act
Annex I – point 3 – point v
Annex I – point 3 – point v
Directive 2006/48/EC
Annex IX – part 4 – point 46
Annex IX – part 4 – point 46
46. Under the Ratings Based Method, the risk-weighted exposure amount of a rated securitisation position or re-securitisation shall be calculated by applying to the exposure value the risk weight associated with the credit quality step with which the credit assessment has been determined to be associated by the competent authorities in accordance with Article 98, as set out in the Table 4, multiplied by 1,06. The risk weights for re-securitisation shall apply in respect of positions in new re- securitisations issued after 31 December 2010. In respect of positions in existing re-securitisations, the risk weights shall apply from 31 December 2014 where new underlying exposures are added after that date.
Amendment 212 #
Proposal for a directive – amending act
Annex II – point 1 – point b
Annex II – point 1 – point b
Directive 2006/49/EC
Annex I – point 16 a – point a
Annex I – point 16 a – point a
(a) for securitisation positions that would be subject to the Standardised Approach for credit risk in the same institution's non- trading book, 8 % of the risk-weighted exposure amountnet positions under the Standardised Approach as set out in Part 4 of Annex IX to Directive 2006/48/EC;