39 Amendments of Sylvie GOULARD related to 2012/0242(CNS)
Amendment 354 #
Proposal for a regulation
Recital 38
Recital 38
(38) In order to carry out its supervisory tasks effectively, the ECB should exercise the supervisory tasks conferred on it in full independence, in particular from undue political influence and from industry interference which would affect its operational independence. At the same time, it is a founding principle of democratic societies that an independent institution bestowed with a public function should be accountable to citizens and their elected representatives for the conduct of its policies. Accountability is therefore an important counterpart of independence. As stated in the interim report "Towards a genuine economic and monetary union" of 12 October 2012, "a further strengthened role of EU institutions must be accompanied with a commensurate involvement of the European Parliament in the EU procedures". The European Parliament should put in place appropriate internal accountability modalities in order to mirror those of the Member States participating to this regulation.
Amendment 385 #
Proposal for a regulation
Recital 44 a (new)
Recital 44 a (new)
(44a) Each Member State whose currency is the euro should ensure consistency between national law and this Regulation, in particular concerning national competent authorities' tasks and powers regarding the tasks conferred to the ECB according to this Regulation. By way of derogation to Article 1.2 of Regulation 98/415/EC, Members States should consult the ECB before adopting any legislative or regulatory acts in order for the ECB to deliver an opinion on national acts implementing Union acts that are not directly applicable.
Amendment 386 #
Proposal for a regulation
Recital 44 b (new)
Recital 44 b (new)
(44b) In order to ensure legal continuity in the prudential surveillance, it is necessary to ensure that all decisions adopted by national competent authorities, pertaining to the tasks conferred upon the ECB by the present Regulation, before its entry into force, remain in force as long as the ECB has not modified or repealed them.
Amendment 394 #
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47a) Given the necessity to be able to oversee highly complex and inter- connected markets and institutions, including conglomerates, which requires close and daily exchanges, it is important that the Supervisory board, the EBA and the EIOPA be located in Frankfurt am Main where the ECB has its seat.
Amendment 436 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
The supervisory board of the ECB shall cooperate closely with the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the European Systemic Risk Board, which form part of the European System of Financial Supervision established by Article 2 of Regulations (EU) No. 1093/2010, (EU) No 1094/2010, and (EU) No 1095/2010.
Amendment 440 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
In accordance with the principle of sincere cooperation pursuant to Article 4(3) of the Treaty on European Union, the parties to the ESFS shall cooperate with trust and full mutual respect, in particular in ensuring the flow of appropriate and reliable information between them.
Amendment 459 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The supervisory board of the ECB shall, in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:
Amendment 609 #
Proposal for a regulation
Article 6 – title
Article 6 – title
Amendment 613 #
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
1. Within the limits set out in this Article, the ECB shall carry out the tasks in the areas referred to in Article 4 (1) and (2) in relation to credit institutions established in a Member State whose currency is not the euro, where a close cooperparticipation has been established between the ECB and the national competent authority of such Member State in accordance with this Article.
Amendment 625 #
Proposal for a regulation
Article 6 – paragraph 2 – introductory part
Article 6 – paragraph 2 – introductory part
2. The close cooperation between the ECB andparticipation of the national competent authority of a non participating Member StateMember State with a derogation to this Regulation shall be established, by a decision adopted by the ECB, where the following conditions are met:
Amendment 628 #
Proposal for a regulation
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) The Member State concerned notifies the other Member States, the Commission, the ECB and the EBA the request to enter into a close cooperparticipation with the ECB in relation to the exercise of the tasks referred to in Article 4 with regards to all credit institutions established in the Member State concerned;
Amendment 644 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The decision referred to in paragraph 2 shall determine, in compliance with the Statute of ESCB and of the ECB, the conditions under which representatives of the competent authorities of the Member States which established a close cooperparticipation in accordance with this Article shall take part to the activitiedecisions of the Supervisory Board and of the Governing Council acting in accordance with Article 19(7a).
Amendment 655 #
Proposal for a regulation
Article 6 – paragraph 5a* – subparagraph 1
Article 6 – paragraph 5a* – subparagraph 1
5a. Where the conditions set out in paragraph 2(a) to (c) are no longer met by a Member State concerned, or where its competent authority does not act in accordance with the obligation referred to in paragraph 2(c), the ECB may decide to terminate the close cooperparticipation withof that Member State. * NB: wrongly numbered as a second paragraph ‘5’ in the Commission proposal.
Amendment 739 #
Proposal for a regulation
Article 15 – title
Article 15 – title
Sanctions or other administrative measures
Amendment 753 #
Proposal for a regulation
Article 15 – paragraph 5 – subparagraph 1
Article 15 – paragraph 5 – subparagraph 1
5. In the cases not covered by paragraph 1, wWhere necessary for the purpose of carrying out the tasks conferred upon it by this Regulation, the ECB may requireissue an instruction for national competent authorities to take action in orduse their powers to ensure that appropriate sanctions are imposed. The sanctions applied by national competent authorities will be effective, proportionate and dissuasiveadopt an administrative measure or to open a disciplinary procedure in view of a sanction, as provided for by national law or implementing Union acts with regards to the tasks conferred upon the ECB.
Amendment 754 #
Proposal for a regulation
Article 15 – paragraph 5 – subparagraph 2
Article 15 – paragraph 5 – subparagraph 2
The first subparagraph shall be applicable in particular to pecuniary sanctionssanctions whether pecuniary or other, as well as administrative measures, to be imposed on credit institutions, financial holding companies or mixed financial holding companies for breaches ofunder national law transposing relevant EU Directives, and to anyincluding for breaches to this national law, and to any pecuniary sanctions or administrative sanctions or measures to be imposed on members of the management board or any other individuals who under national law are responsible for a breach by a credit institution, financial holding company or mixed financial holding companyf a credit institution, financial holding company or mixed financial holding company or any other individuals in one of those entities who under national law may be held personally liable for the case or a breach defined by national law.
Amendment 773 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. WThen carrying out the tasks conferred upon it by this Regulation, the ECB shall act independentl members of the Supervisory Board shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies, from any government of a Member State or from any other public or private body.
Amendment 775 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Neither Member States, the Union institutions, or bodies, offices and agencies and the governments of nor any other public or private body shall seek to influence the Mmember States shall respect that independences of the Supervisory Board in the performance of their tasks.
Amendment 787 #
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
2. The ECB shall carry out the tasks conferred upon it by this Regulation without prejudice and separately from its tasks relating to monetary policy and from any other tasks. The tasks conferred upon the ECB by this regulation shall not interfere with the ECB's tasks relating to monetary policy and any other tasks.
Amendment 789 #
Proposal for a regulation
Article 18 – paragraph 2 – subparagraph 1 a (new)
Article 18 – paragraph 2 – subparagraph 1 a (new)
For this purpose the ECB shall guarantee that the supervisory board is organisationally completely independent and has separated reporting lines from the entities which are tasked with monetary policy and other tasks. This entity shall share its offices with the European Banking Authority, which shall have its seat in Frankfurt am Main.
Amendment 793 #
Proposal for a regulation
Article 18 – paragraph 3
Article 18 – paragraph 3
3. For the purposes of paragraphs 1 and 2, the ECB shall adopt any necessary internal rules, including rules regarding professional secrecy and to prevent inside information originating from the areas responsible for monetary policy implementation from reaching the areas responsible for the supervisory policy.
Amendment 807 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter ‘six members ('the supervisory board’').
Amendment 813 #
Proposal for a regulation
Article 19 – paragraph 1 – subparagraph 1 a (new)
Article 19 – paragraph 1 – subparagraph 1 a (new)
The Chair, the Vice-chair and the other members of the Supervisory Board shall be appointed by the European Parliament following a hearing of the candidates designated by the Council from among persons of recognised standing and professional experience in banking matters. The list of candidates shall be gender-balanced.
Amendment 814 #
Proposal for a regulation
Article 19 – paragraph 1 – subparagraph 1 b (new)
Article 19 – paragraph 1 – subparagraph 1 b (new)
Only nationals of Member States participating in this regulation may be members of the Supervisory Board.
Amendment 817 #
Proposal for a regulation
Article 19 – paragraph 2
Article 19 – paragraph 2
Amendment 833 #
Proposal for a regulation
Article 19 – paragraph 3
Article 19 – paragraph 3
Amendment 844 #
Proposal for a regulation
Article 19 – paragraph 4
Article 19 – paragraph 4
Amendment 851 #
Proposal for a regulation
Article 19 – paragraph 5
Article 19 – paragraph 5
Amendment 866 #
Proposal for a regulation
Article 19 – paragraph 7
Article 19 – paragraph 7
7. The Governing Council shall adopt the rules of procedure of the supervisory board including rules on the term of office of the Chair and the Vice-Chair. The term of office shall not exceed five years and shall not be renewable.
Amendment 871 #
Proposal for a regulation
Article 19 – paragraph 7 a (new)
Article 19 – paragraph 7 a (new)
7a. The supervisory board shall carry out the preparation of the decisions regarding the tasks conferred upon the ECB and propose to the Governing Council the decisions to be adopted. The Governing Council, acting by qualified majority, may reject a decision of the Supervisory board.
Amendment 893 #
Proposal for a regulation
Article 21 – paragraph 3
Article 21 – paragraph 3
3. The Chair of the supervisory board mayshall, at the request of the European Parliament, beparticipate in a hearding on the execution of its supervisory tasks byin the competent committees of the European Parliament.
Amendment 904 #
Proposal for a regulation
Article 21 – paragraph 4 a (new)
Article 21 – paragraph 4 a (new)
4a. The Supervisory board shall also examine specific issues at the invitation of the European Parliament, the Council or the Commission.
Amendment 907 #
Proposal for a regulation
Article 21 – paragraph 4 b (new)
Article 21 – paragraph 4 b (new)
4b. The Chair of the Supervisory board shall hold confidential oral discussions at least twice a year and more often if deemed appropriate, behind closed doors with the Chair and Vice-Chairs of the Economic and Monetary Affairs Committee of the European Parliament on the ongoing activity of the ECB. An agreement shall be concluded between the European Parliament and the ECB on the detailed modalities of organising those meetings, with a view to ensuring full confidentiality. The ECB shall provide the Council with a copy of that agreement.
Amendment 936 #
Proposal for a regulation
Article 26 – paragraph 1 – introductory part
Article 26 – paragraph 1 – introductory part
By 31 December 20153, the Commission shall publish a report on the application of this Regulation. That report shall evaluate, inter alia:
Amendment 954 #
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2
The report shall be forwarded to the European Parliament and to the Council. TFollowing the report the Commission shall make accompanying proposals, as appropriate, to establish by 1 January 2016 a single European Supervisory Authority built on the European System for Financial Supervision and competent for all aspects of prudential supervision in the Union. This report shall take into account the general reports on the experience acquired as a result of the operation of the European Supervisory Authorities (EBA, ESMA, EIOPA) as well as the ESRB and the procedures laid down in their founding regulations. The report shall also reflect on the Treaty changes potentially required in order establish the most efficient system.
Amendment 962 #
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
Amendment 974 #
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. The ECB shall assume in full the tasks conferred on it by this regulation on the 1 January 20143 at latest.
Amendment 976 #
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
Amendment 982 #
Proposal for a regulation
Article 27 – paragraph 6 a (new)
Article 27 – paragraph 6 a (new)
6a. Any decision and/or measure adopted by national competent authorities before the entry into force of this Regulation in the domains where the ECB is conferred prudential surveillance tasks as defined in Article 4 remain in force until the ECB modifies or repeals it in accordance with the conditions to be defined as laid out in Article 5.