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32 Amendments of Burkhard BALZ related to 2015/0270(COD)

Amendment 97 #
Burkhard BALZ
Proposal for a regulation
Title 1
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) 806/2014 and Directive 2014/59/EU in order to establish a European Deposit Insurance Scheme
2016/12/20
Committee: ECON
Amendment 111 #
Burkhard BALZ
Proposal for a regulation
Recital 5
(5) In June 2015, the Five Presidents Report on Completing Europe’s Economic and Monetary Union pointed out that a single banking system can only be truly single if confidence in the safety of bank deposits is the same irrespective of the Member State in which a bank operates. This requires single bank supervision, single bank resolution to the necessity to have an effective EU-wide system of bank supervision, bank resolution and bank deposit guarantee schemes to reduce existing vulnerabilities, in particular with regard to the sovereign- bank-nexus, and to increase the resilience of the European banking sector against future crises. This system should be designed in such a way that moral hazard is prevented. Notwithstand single deposit insurance. T the co- legislators' prerogative, the Five Presidents report therefore proposed to complete the Banking Union byand to establishing a European Deposit Insurance Scheme (EDIS) for national guarantee schemes, the third pillar of a fully-fledgedthe Banking Union alongside bank supervision and resolution. Concrete steps in that direction shcould alreadonly be taken as a priorityfter effective risk reduction has been advanced, with a re-insurance system at the European level for the national deposit guarantee schemes as a first step towards a fully mutualised approach. The scope of this reinsurance system should coincide with that of the SSM.
2016/12/20
Committee: ECON
Amendment 170 #
Burkhard BALZ
Proposal for a regulation
Recital 17
(17) EDIS shcould progressively evolve from a reinsurance scheme into an fully mutualised co-insurance scheme over a number of years. In the context of efforts to deepen the EMU, together with the work on the establishment of bridge- financing arrangements for the Single Resolution Fund (SRF) and on developing a common fiscal backstop, this step is necessary, if and when the conditions set out in this regulation have been fully met. In the context of efforts to deepen the EMU and on developing a common fiscally neutral backstop for the Single Resolution Fund, this step could to some extent contribute to reduceing the bank/sovereign links in individual Member States by means of steps towards risk sharing among all the Member States in the Banking Union, and therebyand to reinforceing the Banking Union in achieving its key objective. However, suchany risk sharing implied by steps to reinforccomplete Banking Union must be proeceded in parallel withby comprehensive and effective risk reducing measures designed to break the bank-sovereign link more directly.
2016/12/20
Committee: ECON
Amendment 180 #
Burkhard BALZ
Proposal for a regulation
Recital 18
(18) EDIS shcould be established in three sequential stages, first a reinsurance scheme that covers a share of the liquidity shortfall and of the excess losses of participating DGSs, followed by a co- , depending on the conditions set out in this Regulation, be established in two stages, first a reinsurance scheme that covers a gradually increasing share of the liquidity shortfall and losses of participating DGSs and eventually resulting in a fullan insurance scheme that covers all liquidity needs and share of up to 20% of excess losses of participating deposit guarantee schemes.
2016/12/20
Committee: ECON
Amendment 215 #
Burkhard BALZ
Proposal for a regulation
Recital 22 a (new)
(22a) The implementation and enforcement of EU banking legislation is crucial to achieve a truly full-fledged Banking Union that reinforces financial stability, benefits financial end-users and protects taxpayers' money from being used in banking crises. Correlation tables are an important safeguard to understand whether, when and how relevant European legislation is transposed and applied across all Member States. As an instrument to foster the EU single rulebook, correlation tables should therefore, as a rule, be provided by the European Commission in cooperation with the relevant European Supervisory Authorities.
2016/12/20
Committee: ECON
Amendment 242 #
Burkhard BALZ
Proposal for a regulation
Recital 27
(27) In principle, contributions should be collected from the industry prior to, and independently of, any deposit reinsurance and insurance action. When prior funding is insufficient to cover the losses or costs incurred by the use of the Deposit Insurance Fund, additional contributions should be collected to bear the additional cost or loss. Moreover, the Deposit Insurance Fund should be able to contract borrowings or other forms of support from credit institutions, financial institutions or other third parties in the event that the ex-ante and ex post contributions are not immediately accessible or do not cover the expenses incurred by the use of the Deposit Insurance Fund in relation to deposit insurance actions.
2016/12/20
Committee: ECON
Amendment 261 #
Burkhard BALZ
Proposal for a regulation
Recital 30
(30) Ensuring effective and sufficient financing of the Deposit Insurance Fund is of paramount importance to the credibility of EDIS. The capacity of the Board to contract alternative funding means for the Deposit Insurance Fund should be enhanced in a manner that optimises the cost of funding and preserves the creditworthiness of the Deposit Insurance Fund. Immediately after the entry into force of this Regulation, the necessary steps should be taken by the Board in cooperation with the participating Member States to develop the appropriate methods and modalities permitting the enhancement of the borrowing capacity of the Deposit Insurance Fund that should be in place by the date of application of this Regulationrefore, the adherence of the DGSs to the funding path is set out as a precondition for DGSs to be able to make use of EDIS.
2016/12/20
Committee: ECON
Amendment 279 #
Burkhard BALZ
Proposal for a regulation
Recital 46
(46) In order forto enable EDIS to function in an effective manner as of [….]1 January 2021, the provisions concerning the payment of contributions to the Deposit Insurance Fund, the establishment of all the relevant procedures and any other operational and institutional aspects should apply from XX3 July 2019.
2016/12/20
Committee: ECON
Amendment 316 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 3
(b) credit institutions affiliated to participating deposit-guarantee schemes, not including the entities excluded from the application of Directive 2013/36/EU according to Article 2 of that Directive.
2016/12/20
Committee: ECON
Amendment 351 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article -41 a (new)
-Article 41a Entry into application of this Chapter 1. This Chapter shall apply from no earlier than the latest of the following dates: (a) the date of application, or, where relevant, the expiry of the transposition period of the international standard for Total Loss Absorbing Capacity (TLAC), for Global Systemically Important Banks (G-SIBs), and of revised rules in relation to a minimum requirement for own funds and eligible liabilities (MREL), for all credit institutions affiliated to the participating DGSs, and not earlier than the completion of the build-up of relevant buffers of high quality and at a level of at least 8% of total liabilities allowing for the effective, efficient and orderly resolution of a credit institution in line with the Directive 2014/59/EU; (b) the date of application, or, where relevant, the expiry of the transposition period of an insolvency ranking for credit institutions, harmonised at Union level, in relation to subordinated debt; (c) the date of application, or, where relevant, the expiry of the transposition period of a minimum harmonization in insolvency law, including, as a minimum, a framework for business insolvency, harmonised at Union level, in relation to the early restructuring of companies and harmonized rules on the ranking of secured creditors in order to prevent and better handle the pressing issue of non- performing loans; (d) the date of application, or, where relevant, the expiry of the transposition period of an act amending Regulation (EU) No 575/2013 and Directive 2013/36/EU, resulting in a binding leverage ratio requirement with additional requirements for G-SIBs. (e) the date of application or, where relevant, the expiry of the transposition period of harmonised rules for moratorium tools available to competent authorities that contribute to stabilizing a credit institution in the period before, and possibly after, an intervention. 2. Without prejudice to paragraph 1, the Commission is empowered to adopt a delegated act in accordance with Article 93, after consulting the EBA and the SRB, in order to supplement this Regulation by establishing the exact date of application of this Chapter. That empowerment shall be based on a verification, to be conducted in 2020, of compliance with the following conditions: (a) adherence by all credit institutions to the minimum capital requirements in the baseline scenario of an Asset Quality Review for all credit institutions affiliated to the participating DGSs in 2020; (b) sufficient progress in adherence by all participating DGSs to the target level as set out in Directive 2014/49/EU; (c) provision of correlation tables by the Commission in cooperation with the ESAs verifying the transposition and application of the provisions set out in the legislative measures referred to in paragraph 1 in all Member States with participating DGSs. That delegated act shall set a date of application for this Chapter that shall, in any event, be no earlier than 1 January 2021 and, where that date is exceeded, no later than one year from the time all the conditions of this Article are met.
2016/12/21
Committee: ECON
Amendment 432 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article -41h (new)
Article -41h (new) Entry into application of this Chapter 1. This Chapter shall apply from no earlier than the latest of the following dates: (a) the date of application, or, where relevant, the expiry of the transposition period of the international standard for Total Loss Absorbing Capacity (TLAC), for Global Systemically Important Banks (G-SIBs), and of revised rules in relation to a minimum requirement for own funds and eligible liabilities (MREL), for all credit institutions affiliated to the participating DGSs, and not earlier than the completion of the build-up of relevant buffers of high quality and at a level of at least 8% of total liabilities allowing for the effective, efficient and orderly resolution of a credit institution in line with the Directive 2014/59/EU; (b) the date of application, or, where relevant, the expiry of the transposition period of an insolvency ranking for credit institutions, harmonised at Union level, in relation to subordinated debt; (c) the date of application, or, where relevant, the expiry of the transposition period of a minimum harmonization in the field of insolvency law, as a minimum a framework for business insolvency, harmonised at Union level, in relation to the early restructuring of companies and harmonized rules on the ranking of secured creditors in order to prevent and better handle the pressing issue of nonperforming loans; (d) the date of application, or, where relevant, the expiry of the transposition period of an act amending Regulation (EU) No 575/2013 and Directive 2013/36/EU, resulting in a binding leverage ratio requirement with additional requirements for G-SIBs; (e) the date of application or, where relevant, the expiry of the transposition period of harmonised rules for moratorium tools available to competent authorities that contribute to stabilizing a credit institution in the period before, and possibly after, an intervention; (f) the date of application or, where relevant, the expiry of the transposition period of a risk adequate revision of the regulatory treatment of Member States` sovereign debt held by credit institutions, leading step-by-step to consistency in the risk-based approach; (g) the date of application or, where relevant, the expiry of the transposition period of a sovereign debt restructuring procedure that enables prevention and facilitates resolution of potential cases of sovereign debt overhang. 2. Without prejudice to paragraph 1, the Commission is empowered to adopt a delegated act in accordance with Article 93, after consulting the EBA and the SRB, in order to supplement this Regulation by establishing the exact date of application of this Chapter. That empowerment shall be based on a verification, to be conducted in 2025, of compliance with the following conditions: (a) the completion by the Commission, by 31 December 2021, of a review of the European supervisory architecture for credit institutions; (b) adherence by all credit institutions to the minimum capital requirements in the baseline scenario of an Asset Quality Review for all credit institutions affiliated to the participating DGSs in 2025; (c) publication by the Commission, by 31 December 2025, of an impact assessment in relation to the entry into application of this Chapter; (d) adherence by all participating DGSs to the funding path as set out in Article 41j paragraph 1. (e) provision of correlation tables by the Commission in cooperation with the ESAs verifying the transposition and application of the provisions set out in the legislative measures referred to in paragraph 1 in all Member States with participating DGSs. That delegated act shall set a date of application for this Chapter that shall, in any event, be no earlier than 1 January 2026 and, where that date is exceeded, no later than one year from the time all the conditions of this Article are met.
2016/12/21
Committee: ECON
Amendment 447 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h – paragraph 3
3. The DIF shall also cover the loss of the participating DGS as defined by Article 41g. The participating DGS shall repay the amount of funding it obtained under paragraph 2, less the amount of loss cover, in accordance with the procedure set out in Article 41oIn case a participating DGS encounters a payout event or is used in resolution in accordance with Article 109 of Directive 2014/59/EU or Article 79 of this Regulation, it may claim a share of excess loss funding from the DIF in accordance with Article 41ha of up to 20%.
2016/12/21
Committee: ECON
Amendment 466 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41i – paragraph 1 – point b
(b) the participating DGS, the relevant administrative authority within the meaning of Article 3 of Directive 2014/49/EU, or any other relevant authority of the respective Member State have, in relation to a particular request for coverage by EDIS, acted in a way that runs counter to the principle of sincere cooperation as laid down in Article 4(3) of the Treaty on European Union, or have taken measures that directly or indirectly lead to a significant reduction of the capital and liquidity position of credit institutions affiliated to the participating DGS.
2016/12/21
Committee: ECON
Amendment 473 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41i – paragraph 2 a (new)
2a. Neither the funding nor the excess loss cover shall exceed the lower of 20% of the initial target level of the DIF as set out in Article 74 b (1) of this Regulation and 10 times the target level of the participating DGS as defined in the first subparagraph of Article 10 (2) of Directive 2014/49/EU.
2016/12/21
Committee: ECON
Amendment 478 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41j – paragraph 1
1. ANotwithstanding paragraph 1a, a participating DGS shall only be reinsured, co-insured or fully or insured by EDIS during the year following any of the dates set out below, if, by that date, its available financial means raised by contributions referred to in Article 10(1) of Directive 2014/49/EU amount to at least the following percentages of the total amount of covered deposits of all credit institutions affiliated to the participating DGS: – by 3 July 2017date of entry into application of Chapter 1 (reinsurance): 0.145%; – by 3 July 2018one year after entry into application of Chapter 1 (reinsurance): 0.21%; – by 3 July 2019: 0.28%; – by 3 July 2020two years after entry into application of Chapter 1 reinsurance: 0.285%; – by 3 July 2021three years after entry into application of Chapter 1 (reinsurance): 0.263%; – by 3 July 2022: 0.20%; – by 3 July 2023four years after entry into application of Chapter 1 (reinsurance): 0.1135%; – by 3 July 2024five years after entry into application of Chapter 1 (reinsurance): 0.4%.
2016/12/21
Committee: ECON
Amendment 493 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41j – paragraph 1a (new)
1a. The available financial means of institutional protection schemes as referred to in Article 113 (7) of Regulation (EU) No 575/2013 that are officially recognised as DGSs according to Article 4 (1) of Directive 2014/49/EU shall amount to at least the following percentages of the total amount of covered deposits of all credit institutions affiliated to the recognised DGS: – date of entry into application of Chapter 1 (reinsurance): 0.3%; – one year after entry into application of Chapter 1 (reinsurance): 0.4%; – two years after entry into application of Chapter 1 (reinsurance): 0.45%; – three years after entry into application of Chapter 1 (reinsurance): 0.5%; – four years after entry into application of Chapter 1 (reinsurance): 0.55%; – five years after entry into application of Chapter 1 (reinsurance): 0.6%. One third of the available financial means shall count towards the available financial means of the DIF according to Article 74b paragraph 1, but not exceeding 0.2% of the total amount of covered deposits of all credit institutions affiliated to the recognised DGS.
2016/12/21
Committee: ECON
Amendment 497 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41j – paragraph 2
2. The Commission, after consulting the Board, may approve a derogation from the requirements set out in paragraph 1 for duly justified reasons linked to the business cycle in the respective Member State, the impact pro-cyclical contributions may have, or to a payout event which occurred at national level. Those derogations must be temporary and may be subject to the fulfilment of certain conditionsIn case of any derogation from paragraph 1 the relevant participating DGS shall have access neither to the individual risk-based subfund of all other participating DGSs nor to the joint risk- based subfund.
2016/12/21
Committee: ECON
Amendment 529 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 n – point b a (new)
(ba) within 3 months of the determination referred to in Article 41m the Board shall establish a repayment plan that ensures that the funding provided by the Board under Article 41n will be repaid in full within three years by the participating DGS.
2016/12/21
Committee: ECON
Amendment 543 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 3 a (new)
3a. The repayment plan shall also establish the refunding path for the participating DGS to return to its target level as set out in Article 41j. The minimum yearly refunding of the participating DGS to return to its target level as set out in Article 41j shall be as a minimum 0.05 % of covered deposits of the amount remaining until the target level has been reached. In case the available financial means of the participating DGS have been reduced to less than two-thirds of the target level, the regular contribution shall be set at a level ensuring that the participating DGS returns to the target level within six years after the pay-out event. In the event of insufficient funds, the repayment plan shall provide that the repayment of the funds provided by the DIF to the participating DGS shall take priority over the refunding of the participating DGS.
2016/12/21
Committee: ECON
Amendment 560 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 50 a – paragraph 1 – point d a (new)
(da) decide on the placement of participating DGS in one of the seven aggregated risk weighting categories as laid down in Article 74c paragraph 5 subparagraphs 2 to 2c (new).
2016/12/21
Committee: ECON
Amendment 583 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 3 a (new)
3a. The DIF shall consist of: (a) individual risk-based subfunds, which are to be filled by each participating DGS, which does not qualify as institutional protection schemes recognised according to Article 4 (1) of Directive 2014/49/EU; (b) a joint risk-based subfund, which is to be filled by all participating DGSs.
2016/12/21
Committee: ECON
Amendment 607 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 1 c (new)
1c. The individual risk-based subfunds and the joint risk-based subfund shall each adhere to the following funding path as a percentage of covered deposits: – date of entry into application of Chapter 1 (reinsurance): 0.075 %; – one year after entry into application of Chapter 1 (reinsurance): 0.1 %; – two years after entry into application of Chapter 1 (reinsurance): 0.125 %; – three years after entry into application of Chapter 1 (reinsurance): 0.150 %; – four years after entry into application of Chapter 1 (reinsurance): 0.175 %; – five years after entry into application of Chapter 1 (reinsurance): 0.2 %.
2016/12/21
Committee: ECON
Amendment 610 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 1 d (new)
1d. Contributions into the joint risk- based subfund by institutional protection schemes officially recognized as DGSs according to Article 4(1) of Directive 2014/49/EU shall qualify as available financial means according to Article 11 paragraph 5 point b of Directive 2014/49/EU.
2016/12/21
Committee: ECON
Amendment 658 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 2
2. During the reinsurance period eachIn both stages of EDIS, the Board shall invoice and collect the required contributions of the participating DGSs. For their part, the participating DGSs shall calculate, on the basis of the total amount determined byinvoice and collect the contribution of each affiliated credit institution. Both the Board uander paragraph 1, the contribution of each credit institution affiliated to it. It shall apply the risk-based method established by the delegated act according to the second subparagraph of paragraph 5. After the reinsurance period, the Board itself shall calculate the contribution of each credit institution affiliated to a participating DGS. The Board shall apply the the participating DGS shall do so on an annual basis. The contributions shall become due on 31 May of each year. As regards the individual risk-based subfund, participating DGSs may collect the required amount of risk-based contributions from affiliated credit institutions using their own methodology. As regards the joint risk-based subfund, the Board shall annually determine the required total amount of risk-based contributions to be raised by the participating DGSs using an additional risk-based method established bology theo delegated act according to the third subparagraph oftermine the share to be paid by each participating DGS in accordance with paragraphs 5. In all stages of EDIS the participating DGS shall invoice, on behalf of the Board, the contribution of each credit institution on an annual basis. Credit institutions shall pay the invoiced amount directly to the Board. The contributions shall and 5a. Each participating DGS shall collect the required amount of risk-based contributions from affiliated credit institutions using their own methodology. Up to 30 % of the contributions from participating DGSs to the DIF may be come due on 31 May of each yearprised of irrevocable payment commitments.
2016/12/21
Committee: ECON
Amendment 672 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 – subparagraph 1
The Commission shall be empowered to adopt delegated acts in accordance with Article 93 in order to specify a risk-based method for the calculation of contributions in accordance with paragraph 2 of this Articlecalculation of the contributions to be paid by participating DGSs to the joint risk-based subfund shall be based on the amount of covered deposits and the degree of risk incurred by each participating DGS relative to all other participating DGSs.
2016/12/21
Committee: ECON
Amendment 673 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
It shall adopt one delegated act specifying the method for the calculation of contributions payable to participating DGSs and, for the reinsurance period only, to the DIF. In this delegated act the calculation shall be The risk-based contributions shall range between 50 % and 200 % aggregate risk weighting (ARW) of covered deposits. The Board shall place participating DGSs in one of the following seven different ARW categories: (a) 50% ARW of risk-based contributions to the joint risk-based subfund; (b) 75% ARW of risk-based contributions to the joint risk-based subfund; (c) 100% ARW of risk-based contributions to the joint risk-based subfund; (d) 125% ARW of risk-based contributions to the joint risk-based subfund; (e) 150% ARW of risk-based con the amount of covered deposits and the degree of risk incurred by each credit insttributions to the joint risk-based subfund; (f) 175% ARW of risk-based contributions to the joint risk-based subfund; (g) 200% ARW of risk-based contributions to the joint risk-based subfund. The Board may set a wider interval upon the duly justified grounds that the limituation relative to all other credit institutions affiliated to the same participating DGS. of the interval to 50%-200% does not sufficiently reflect the differences in business models and risk profiles of participating DGSs and would artificially group together participating DGSs with very different risk profiles.
2016/12/21
Committee: ECON
Amendment 684 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 – subparagraph 4
BoThe Board shall assess the delegated acts shall include a calculation formula, specificgree of risk on the basis of the following criteria: (a) the level of loss absorbing capacity of credit institutions affiliated to a participating DGS determined by the Common Equity Tier 1 Capital Ratio (CET1) as referred to in Article 92(2)(a) of Regulation (EU) No 575/2013. For this indicators, risk classes for members, thresholds for risk weights assigned to specific risk classes, and other necessary elements. The degree of risk shall be assessed on the basis of the following criteria:the Board shall assign an individual risk point (IRP) of 1 for a CET 1 ratio below 14%. the institution’s ability to meet its the stability and variety of the (d) the quality of the assets of credit institutions affiliated to a participating DGS determined by the net non- performing debt instruments as a percentage of total own funds for solvency purposes (nNPL). For this indicator, the DGS shall be assigned an IRP of 1 if the nNPL ratio is between 50% and 100% and an IRP of 2 if the nNPL ratio is above 100%. (e) the business model and management of credit institutions affiliated to a participating DGS determined by the amount that a participating DGS has been used as a percentage of covered deposits since 2016. If any financial means of a participating DGS have been used to repay depositors, the DGS shall be assigned an IRP of 1. If the amount of financial means of a participating DGS used to repay depositors exceeds 0.4% of covered deposits of the participating DGS, the DGS shall be assigned an IRP of 2. the degree to which the (fa) the level of loss absorbingikelihood of insolvency of credit institutions affiliated to a participating DGS determined by the capacity of thean institution; (b) short- and long-term obligations; (c) institutions sources of funding and its unencumbered highly liquid assets’; (d) the quality of the institution’s assets; (e) the institution’s business model and management; (f) institution’s assets are encumbered. al protection scheme officially recognised as laid down in Article 113(7) of Regulation (EU) No 575/2013. For this indicator, a DGS that is not an IPS shall be assigned an IRP of 2. (fb) the potential for a participating DGS to achieve a full and timely recovery from insolvency procedures determined by the length of the insolvency procedures and the recovery rate. For this indicator, the DGS shall be assigned an IRP of 1 if the recovery rate is below 60% and in addition an IRP of 1 if the time required to recover debt is longer than two years. For the purposes of this paragraph the Board shall determine the indicators based on the assessments conducted by competent authorities, where available and necessary.
2016/12/21
Committee: ECON
Amendment 719 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 a (new)
5a. The Board shall place the DGSs in the ARW categories of paragraph 5 subparagraph 2 in relation to the sum of the IRPs according to paragraph 5 as follows: (a) DGSs with 0 IRP shall be placed in the ARW category (a), (b) DGSs with 1 IRP shall be placed in the ARW category (b), (c) DGSs with 2 IRP shall be placed in the ARW category (c), (d) DGSs with 3 IRP shall be placed in the ARW category (d), (e) DGSs with 4 IRP shall be placed in the ARW category (e), (f) DGSs with 5 IRP shall be placed in the ARW category (f), (g) DGSs with 6 or more IRP shall be placed in the ARW category (g). The annual contribution of each DGS to the joint risk-based subfund shall be calculated as the product of the unadjusted contribution and the adjustment factor (AF) of the DGS. The unadjusted contribution is the product of the ARW of the DGS and its unweighted contribution, where the unweighted contribution is the product of the annual target volume and the DGS' share of total covered deposits of all participating DGSs. The AF is the ratio of the annual target volume and the sum of all unadjusted contributions.
2016/12/21
Committee: ECON
Amendment 732 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 f
Article 74 f Voluntary lending to and borrowing from non-participating DGS 1. request to borrow for the DIF from deposit guarantee schemes within non- participating Member States in the event that: (a) 74c are not sufficient to cover the losses, costs or other expenses incurred by the use of the DIF in relation to resolution actions; (b) contributions provided for in Article 74d are not immediately accessible; (c) provided for in Article 74g are not immediately accessible on reasonable terms. 2. shall decide on such a request in accordance with Article 12 of Directive 2014/49/EU. 3. other deposit guarantee schemes within non-participating Member States upon request. Article 12 of Directive 2014/49/EU shall apply by analogy with respect to the borrowing conditions.deleted The Board shall decide to make a the amounts raised under Article the extraordinary ex-post the alternative funding means Those deposit guarantee schemes The Board may decide to lend to
2016/12/21
Committee: ECON
Amendment 737 #
Burkhard BALZ
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 g
Article 74g Alternative funding means 1. DIF borrowings or other forms of support from institutions, financial institutions or other third parties, which offer better financial terms, at the most appropriate time so as to optimise the cost of funding and preserve its reputation. The proceeds of such borrowings shall be used exclusively to meet payment obligations towards participating DGSs, in the event that the amounts raised in accordance with Articles 74c and 74d are not immediately accessible or do not cover the amounts claimed from the DIF in relation to payout events. 2. support referred to in paragraph 1 shall be fully recouped in accordance with Articles 74c and 74d. 3. of the borrowings specified in paragraph 1 shall be borne by Part III of the budget of the Board and not by the Union budget or the participating Member States. 4. proceeds from borrowings in accordance with Article 75 in ordeleted The Board may contract for the The borrowing or other forms of Any expenses incurred by the use The Board may decider to protect their real value.";invest
2016/12/21
Committee: ECON
Amendment 789 #
Burkhard BALZ
Proposal for a regulation
Article 1 a (new)
Directive 2014/59/EU
Article 108 – paragraph 1 – point b
Article 1a Amendment to Directive 2014/59/EU Point b to paragraph 1 of Article 108 of Directive 2014/59/EU is replaced by the following: “(b) the following have the same priority ranking which is higher than the ranking provided for under point (a) and of all other liabilities, without prejudice to costs, expenses and other creditors of the estate: (i) covered deposits; (ii) deposit guarantee schemes subrogating to the rights and obligations of covered depositors in insolvency."
2016/12/21
Committee: ECON
Amendment 792 #
Burkhard BALZ
Proposal for a regulation
Article 2 – paragraph 2
This Regulation shall be binding in its entirety and directly applicable in all Member States. as of [one year after date of entry into force]. Member States shall adopt and publish by [one year after date of entry into force] the laws, regulations and administrative provisions necessary to comply with Article 108 of Directive 2014/59/EU as amended by this Regulation. They shall forthwith communicate to the Commission the text of those measures.
2016/12/21
Committee: ECON
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