53 Amendments of Sylvie GOULARD related to 2011/0202(COD)
Amendment 141 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
Amendment 270 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) The parent institution monitors and has oversight at all times over the liquidity positions of all institutions, including their branches, within the group or sub-group, that are subject to the waiver;
Amendment 275 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
(c) The institutions have entered into contracts to the satisfaction of competent authorities that provide for the free movement of funds between them to enable them to meet their individual and joint obligations as they come due;
Amendment 277 #
Proposal for a regulation
Article 7 – paragraph 1 – point d
Article 7 – paragraph 1 – point d
(d) There areis no current or foreseen material practical or legal impediment to the fulfilment of the contracts referred to in (c).
Amendment 281 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1 a (new)
Article 7 – paragraph 1 – subparagraph 1 a (new)
By 31 December 2012 the Commission shall report to the European Parliament and the Council on any legal obstacles to the application of point (c) of the first subparagraph and shall make appropriate legislative proposals for the removal of those obstacles by 31 December 2014.
Amendment 285 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2 – introductory part
Article 7 – paragraph 2 – subparagraph 2 – introductory part
Where institutions of the single liquidity sub-group are authorised, or branches of a single liquidity sub-group are operated, in several Member States, paragraph 1 shall only be applied after following the procedure laid down in Article 19 and only to the institutions whose competent authorities agree about the following elements:
Amendment 287 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2 – point a
Article 7 – paragraph 2 – subparagraph 2 – point a
(a) the adequacy of the organisation and the treatment of liquidity risk as required by Article 84 of Directive [inserted by OP]2012/.../EU of the European Parliament and of the Council of ... [on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms] to the prospective liquidity sub-group;
Amendment 290 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2 – point b
Article 7 – paragraph 2 – subparagraph 2 – point b
(b) the distribution of amounts, location and ownership of the required liquid assets to be held within the liquidity sub-group;
Amendment 293 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2 – point d
Article 7 – paragraph 2 – subparagraph 2 – point d
Amendment 297 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 3
Article 7 – paragraph 2 – subparagraph 3
Competent authorities may also apply paragraph 1 also to institutions which that are members of the same institutional protection scheme referred to in 108(7)(b), provided that they meet all the conditions laid down in Article 108(7) therein, and to other institutions linked by a relationship referred to in Article 108(6) provided that they meet all the conditions laid down therein. Competent authorities shall in that case determine one of the institutions subject to the waiver to meet Article 401 on the basis of the consolidated situation of all institutions of the single liquidity sub-group.
Amendment 301 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Where a waiver has been granted under paragraph 1, the competent authorities mayshall also waive the application of Article 403.
Amendment 302 #
Proposal for a regulation
Article 7 – paragraph 3 a (new)
Article 7 – paragraph 3 a (new)
3a. Where a waiver has been granted under paragraph 1, the competent authorities may also apply Article 84 of Directive 2012/.../EU of the European Parliament and of the Council of ... [on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms], or parts thereof, applies at the level of the single liquidity group and waive the application of Article 84 of the same Directive, or parts thereof, on the individual basis.
Amendment 468 #
Proposal for a regulation
Article 46 – paragraph 3 – point b – introductory part
Article 46 – paragraph 3 – point b – introductory part
(b) where an institution referred to in Article 25 has a holding in another such institution, or in its central or regional credit institution, or in the parent company of its central or regional credit institution and the following conditions are met:
Amendment 641 #
Proposal for a regulation
Article 118 – paragraph 1 – introductory part
Article 118 – paragraph 1 – introductory part
Exposures that comply with the following criteria shall be assigned a risk weight of 750 %:
Amendment 752 #
Proposal for a regulation
Article 160 – paragraph 4
Article 160 – paragraph 4
Amendment 764 #
Proposal for a regulation
Article 174 – paragraph 1 – subparagraph 1 a (new)
Article 174 – paragraph 1 – subparagraph 1 a (new)
The competent authorities of each Member State may set the number of days past due up to a figure of 180 for exposures indicated in articles 111 and 118, to counterparties situated in their territory, if local conditions make it appropriate.
Amendment 840 #
Proposal for a regulation
Article 372 – paragraph 3 a (new)
Article 372 – paragraph 3 a (new)
3a. Exposures 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 or with equivalent standards in force in a third country are excluded from the own funds requirements for CVA risk.
Amendment 843 #
Proposal for a regulation
Article 372 – paragraph 3 b (new)
Article 372 – paragraph 3 b (new)
3b. Transactions with counterparties referred to in Article 1 paragraph (4) and paragraph (4a) of the Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions, central counterparties and trade repositories ("EMIR) shall be excluded from the own funds requirements for CVA risk. Transactions with non-financial counterparties that do not meet the conditions referred to in Article 7 paragraph (1) of the Regulation (EU) No [xxxx/xxxx] of [date] on OTC derivative transactions, central counterparties and trade repositories ("EMIR) and therefore not subject to the clearing obligation shall be excluded from the own funds requirements for CVA risk.
Amendment 920 #
Proposal for a regulation
Article 401 – paragraph 1
Article 401 – paragraph 1
1. InstitutionsAfter being specified and introduced as a binding minimum standard according to the procedure as set out in Article 481, institutions, liquidity sub-groups as specified by Article 7 shall at all times hold liquid assets, the sum of the values of which equals, or is greater than, the liquidity outflows less the liquidity inflows under stressed conditions so as to ensure that institutionsthey maintain levels of liquidity buffers which are adequate to face any possible imbalance between liquidity inflows and outflows under stressed conditions over a short period of time.
Amendment 922 #
Proposal for a regulation
Article 401 – paragraph 2
Article 401 – paragraph 2
2. InstitutionsLiquidity sub-groups as specified by Article 7 shall not count double liquidity inflows and liquid assets.
Amendment 923 #
Proposal for a regulation
Article 401 – paragraph 3
Article 401 – paragraph 3
3. InstitutionsLiquidity sub-groups as specified by Article 7 may use the liquid assets referred to in paragraph 1 to meet their obligations under stress circumstances as specified as specified under Article 402.
Amendment 924 #
Proposal for a regulation
Article 401 – paragraph 4
Article 401 – paragraph 4
4. The provisions set out in Title II shall apply exclusively for the purposes of specifying reporting obligations set out in Article 403 which apply only until the legislative proposal referred to in article 481 has entered into force.
Amendment 929 #
Proposal for a regulation
Article 402 – paragraph 1
Article 402 – paragraph 1
Where a credit institutionliquidity sub-group as specified by Article 7 does not meet, or is expected not to meet the requirement set out in Article 401(1), it shall immediately notify the competent authorities and shall submit without undue delay to the competent authorityies a plan for the timely restoration of compliance with Article 401. Until such compliance has been restored, the credit institutionliquidity sub-group shall report the items referred to in Title II daily by the end of each business day unless the competent authority authorises a lower frequency and a longer delay. Competent authorities shall only grant such authorisations based on the individual situation of a credit institutionliquidity sub- group. They shall monitor the implementation of the restoration plan and shall require a more timely restoration if appropriate.
Amendment 940 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – introductory part
Article 404 – paragraph 1 – subparagraph 1 – introductory part
Institutions shall report the following as liquid assets unless excluded by paragraph 2 and only if the liquid assets fulfil the conditions in paragraph 3:
Amendment 945 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point a
Article 404 – paragraph 1 – subparagraph 1 – point a
(a) cash and deposits held withexposures to central banks to the extent that these dexpositures can be withdrawn in times of stress;
Amendment 953 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point b
Article 404 – paragraph 1 – subparagraph 1 – point b
(b) transferableother assets that are of extremely high liquidity and credit quality;
Amendment 957 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point c
Article 404 – paragraph 1 – subparagraph 1 – point c
(c) transferable assets representing claims on or guaranteed by the central government of a Member State or a third country if the institutionr central banks issued in domestic currencies, by the central government or central bank in curs a liquidity risk in that Member State or third country that it covers by holding those liquid assets;rency in which the liquidity risk is being taken or on the bank's home.
Amendment 964 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point d
Article 404 – paragraph 1 – subparagraph 1 – point d
(d) transferable assets that are of high liquidity and credit quality.
Amendment 967 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point d a (new)
Article 404 – paragraph 1 – subparagraph 1 – point d a (new)
(da) other assets that are eligible collateral in normal times for intraday liquidity needs and overnight liquidity facilities of a central bank in a Member State or if the liquid assets are held to meet liquidity outflows in the currency of a third country, of the central bank of that third country.
Amendment 989 #
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 2
Article 404 – paragraph 1 – subparagraph 2
Pending a uniform definition in accordance with Article 481(2) of high and extremely high liquidity and credit quality, institutions shall identify themselves in a given currency transferable assets that are respectively of high or extremely high liquidity and credit quality. Pending a uniform definition, competent authorities may, taking into account the criteria listed in Article 481(2), provide general guidance that institutions shall follow in identifying assets of high and extremely high liquidity and credit quality. In the absence of such guidance, institutions shall use transparent and objective criteria to this end, including some or all of the criteria listed in Article 481(2).
Amendment 1022 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1
Article 404 – paragraph 3 – subparagraph 1
Amendment 1030 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point b
Article 404 – paragraph 3 – subparagraph 1 – point b
Amendment 1050 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 2
Article 404 – paragraph 3 – subparagraph 2
Amendment 1069 #
Proposal for a regulation
Article 404 – paragraph 5
Article 404 – paragraph 5
5. Shares or units in CIUs may be treated as liquid assets up to an absolute amount of 250 million EUR provided that the requirements in Article 127(3) are met and that the CIU, apart from derivatives to mitigate interest rate or credit risk, only invests in liquid assets. Monetary UCITS meeting generally approved standards by ESMA shall be considered as highly liquid assets
Amendment 1187 #
Proposal for a regulation
Article 412 – paragraph 5
Article 412 – paragraph 5
5. Institutions, which have been set up and are sponsored by at least one Member State central or regional government may apply the treatments in paragraphs 2 and 3 by derogation from paragraph 4 also to credit and liquidity facilities that are provided to institutions for the sole purpose of directly or indirectly funding loans of promotional loansnature qualifying for the exposure classes referred to in those paragraphs. If those loans of promotional nature are extended via another institution as intermediary (pass through loans), a symmetric 0% in and outflow may be applied by institutions, which disburse those promotional loans to the final beneficiary, by derogation of paragraph 2(c) of Article 413. Those promotional loans shall be available only to persons who are not financial customers on a non- competitive, not for profit basis in order to promote public policy objectives of that Member State central or regional government. It shall only be possible to draw on such facilities following a request for a promotional loan and up to the amount of such request.
Amendment 1199 #
Proposal for a regulation
Article 413 – paragraph 2 – introductory part
Article 413 – paragraph 2 – introductory part
2. The liquidity inflows shall be measured over the next 30 days. They shall comprise only contractual inflows from exposures that are not past due and for which the bankinstitution has no reason to expect non- performance within the 30-day time horizon. The inflow shall be taken into account in full with the exception of the following:
Amendment 1207 #
Proposal for a regulation
Article 413 – paragraph 2 – point a
Article 413 – paragraph 2 – point a
(a) monies due from customers that are not financial customerscentral banks or sovereigns or public sector entities that are assigned a 0% risk- weight under Section 2 of Title III, Chapter 2 or financial customers for the purposes of principal payment shall be reduced by 50% of their value or by the contractual commitments to those customers to extend funding, whichever is higher. This does not apply to monies due from secured lending and capital market driven transactions as defined in Article 188 that are collateralised by liquid assets according to Article 404;
Amendment 1316 #
Proposal for a regulation
Article 434 b (new)
Article 434 b (new)
Article 434b Disclosure of lending to the real economy Institutions shall report on the level of their activity directly related to corporates and SMEs.
Amendment 1510 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 1
Article 481 – paragraph 1 – subparagraph 1
EBA shall monitor and evaluate the reports made in accordance with Article 403(1), across currencies and across different business models. EBA shall, and after consulting the ESRB, biannually and for the first time by 31 December0 June 2013 report to the Commission whether a specification of the general liquidity coverage requirement in Article 401 based on the criteria for liquidity reporting in Part Six Title II, considered either individually or cumulatively, is likely to have a material detrimental impact on the business and risk profile of Union institutions or on financial markets or the economy and bank lending, with a particular focus on lending to small and medium enterprises and on trade financing, including lending under official export credit insurance schemes.
Amendment 1512 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – introductory part
Article 481 – paragraph 1 – subparagraph 2 – introductory part
EBA shall in its report reviewassess in particular the appropriateness of the calibration of the following:
Amendment 1515 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – point a
Article 481 – paragraph 1 – subparagraph 2 – point a
(a) theproviding mechanisms restricting the value of liquidity inflows;
Amendment 1517 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – point b
Article 481 – paragraph 1 – subparagraph 2 – point b
(b) the calibration of the outflows in accordance with Article 410(5);
Amendment 1519 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – point c
Article 481 – paragraph 1 – subparagraph 2 – point c
(c) the calibration of the appropriate haircuts for purposes of Article 406 for assets held in accordance with the derogations laid down to in Article 407.
Amendment 1521 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – point c a (new)
Article 481 – paragraph 1 – subparagraph 2 – point c a (new)
(c a) providing mechanisms restricting the coverage of liquid requirements by certain categories of liquid assets;
Amendment 1522 #
Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 2 – point c b (new)
Article 481 – paragraph 1 – subparagraph 2 – point c b (new)
(c b) introducing in the definition of the liquid assets, certain categories of central bank eligible assets that do not respect all the criteria of Article 404(3).
Amendment 1529 #
Proposal for a regulation
Article 481 – paragraph 2 – introductory part
Article 481 – paragraph 2 – introductory part
2. EBA shall, by 31 December0 June 2013, report to the Commission on appropriate uniform definitions of high and of extremely high liquidity and credit quality of transferable assets for purposes of Article 404. The report should also consider other categories of central bank eligible securities and loans and other non-central bank eligible but tradable assets such as equities and gold. EBA shall in particular test the adequacy of the following criteria and the appropriate levels for such definitions:
Amendment 1536 #
Proposal for a regulation
Article 481 – paragraph 2 a (new)
Article 481 – paragraph 2 a (new)
Amendment 1602 #
Proposal for a regulation
Article 485 – paragraph 1
Article 485 – paragraph 1
The Commission shall within 24 months afterbefore the entry into force of this Regulation, report on the impact of the own funds requirements laid down in this Regulation on lending to small and medium-sized enterprises and natural persons and shall submit this report to the European Parliament and the Council, and, if appropriate, a legislative proposal.
Amendment 1612 #
Proposal for a regulation
Article 486 b (new)
Article 486 b (new)
Article 486 b Credit valuation adjustment monitoring and updating 1. EBA shall monitor and evaluate the application of the provisions on credit valuation adjustment in Title VI of Part III. By 1 January 2015 EBA shall report to the Commission on the impact and effectiveness of such provisions and on the alignment with the trading book review conducted by the Basel Committee. All provisions in the field of Credit Valuation Adjustment shall not result in capital requirements until such date as the EBA shall specify following their review. 2. The Commission shall be empowered to adopt delegated acts in accordance with Article 445 to update the method of calculation of own funds requirements for credit valuation adjustment risk as referred to in Title VI of Part III, taking into account modifications to international standards and the report referred to in paragraph 1.
Amendment 1617 #
Proposal for a regulation
Article 486 a (new)
Article 486 a (new)
Amendment 1620 #
Proposal for a regulation
Article -1 (new)
Article -1 (new)
Amendment 1621 #
Proposal for a regulation
Article -1 a (new)
Article -1 a (new)
Amendment 1630 #
Proposal for a regulation
Article 487 a (new)
Article 487 a (new)
Article 487 a Before 31 December 2012 and in accordance with article 138.2 of the TFEU, the Commission shall submit a proposal to the Council with a view to grant the role of representing the euro area to the European Central Bank and the role of representing the European Union to the Commission within the Basel Committee on Banking Supervision