Activities of Sylvie GOULARD related to 2013/0253(COD)
Plenary speeches (1)
Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund and amending Regulation (EU) No 1093/2010 of the European Parliament and of the Council PDF (768 KB) DOC (494 KB)
Amendments (26)
Amendment 212 #
Proposal for a regulation
Recital 62
Recital 62
Amendment 225 #
Proposal for a regulation
Recital 71 a (new)
Recital 71 a (new)
(71a) With the view of breaking the link between sovereign debt and banks and ensuring the efficiency and the credibility of the Single Resolution Mechanism, especially as long as the Single Resolution Fund has not reached full funding levels, it is essential to establish a common community loan facility (fiscal backstop) for the participating Member States. Any loan from that loan facility should be reimbursed by the Single Resolution Fund within an agreed timeframe.
Amendment 294 #
Proposal for a regulation
Article 6 – paragraph 2 – point c a (new)
Article 6 – paragraph 2 – point c a (new)
(ca) the interest of the group as a whole in full respect of its business model;
Amendment 558 #
Proposal for a regulation
Article 16 – paragraph 6
Article 16 – paragraph 6
6. Having regard to the urgency of the circumstances in the case, the Commission shall decide, on its own initiative or taking into account, if any, the communication referred to in paragraph 1 or the recommendation of the Board referred to in paragraph 5, whether or not to place the entity under resolution, and on the framework of the resolution tools that shall be applied in respect of the entity concerned and of the use of the Fund to support the resolution action. The Commission, on its own initiative, may decide to place an entity under resolution if all the conditions referred to in paragraph 2 are met. Except in duly justified cases of emergency, the Board shall have at least five working days to consider the amendments proposed by the Commission.
Amendment 738 #
Proposal for a regulation
Article 32 – paragraph 4
Article 32 – paragraph 4
4. The Board shall be able to obtain on a continuous basis any information on capital, liquidity, assets and liabilities concerning any institution subject to its resolution powers which are material for resolution purposes.
Amendment 746 #
Proposal for a regulation
Article 35 – paragraph 2
Article 35 – paragraph 2
2. Where authorisation as referred to in paragraph 1 is applied for, the national judicial authority shall, promptly and without delay, control that the decision of the Board is authentic and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask the Board for detailed explanations, in particular relating to the grounds the Board has for suspecting that an infringement of the acts referred to in Article 26 has taken place and the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. However, the national judicial authority shall not review the necessity for the inspection or demand to be provided with the information on the Board's file. The lawfulness of the Board's decision shall be subject to review only by the Court of Justice of the European Union.
Amendment 777 #
Proposal for a regulation
Article 39 – paragraph 1 – point d a (new)
Article 39 – paragraph 1 – point d a (new)
(da) a member appointed by the European Parliament;
Amendment 778 #
Proposal for a regulation
Article 39 – paragraph 1 – point d b (new)
Article 39 – paragraph 1 – point d b (new)
(db) a non-voting member appointed by the ESM;
Amendment 785 #
Proposal for a regulation
Article 39 – paragraph 1 a (new)
Article 39 – paragraph 1 a (new)
1a. The members appointed by the ECB and the European Parliament shall each have a high level of relevant expertise and knowledge, for example by virtue of their academic background in the financial sector. They shall act independently from the institutions that appointed them and shall not be considered liable for the institutions that appointed them. The term of office shall be five years and not renewable.
Amendment 791 #
Proposal for a regulation
Article 41 – paragraph 2
Article 41 – paragraph 2
2. The Board shall submit each year a report to the European Parliament, the Council, the Eurogroup, the Commission and the European Court of Auditors on the execution of the tasks conferred upon it by this Regulation.
Amendment 792 #
Proposal for a regulation
Article 41 – paragraph 3
Article 41 – paragraph 3
3. The Executive Director shall present that report in public to the European Parliament, and to the CouncilEurogroup in the presence of representatives from the participating Member States whose currency is not the euro.
Amendment 795 #
Proposal for a regulation
Article 41 – paragraph 5
Article 41 – paragraph 5
5. The Executive Director may, at the request of the CouncilEurogroup, be heard on the execution of its resolution tasks by the CouncilEurogroup and representatives from the participating Member States whose currency is not the euro.
Amendment 798 #
Proposal for a regulation
Article 41 – paragraph 6
Article 41 – paragraph 6
6. The Board shall reply orally or in writing to questions addressed to it by the European Parliament or by the Council, according to its own procedures, in the presence ofEurogroup and representatives from any participating Member States whose currency is not the Euro according to its own procedures.
Amendment 807 #
Proposal for a regulation
Article 46 – paragraph 1 – point a
Article 46 – paragraph 1 – point a
(a) adopt, by 30 November of each year, the Board's annual work programme for the coming year in accordance with Article 49(1), based on a draft put forward by the Executive Director and shall transmit it for information to the European Parliament, the CouncilEurogroup and representatives from the participating Member States whose currency is not the euro, the Commission, and the European Central Bank;
Amendment 875 #
Proposal for a regulation
Part 3 – title 4 a (new)
Part 3 – title 4 a (new)
Advisory committees
Amendment 876 #
Proposal for a regulation
Article 53 a (new)
Article 53 a (new)
Article 53 a The Board may establish committees to provide the SRM with advice and guidance on various policies such as systemic resolution and investments. The Board may decide to call on the expertise of the Advisory Scientific Committee of the ESRB.
Amendment 890 #
Proposal for a regulation
Article 60 – paragraph 3
Article 60 – paragraph 3
3. By 31 March of each year the Board, in its executive session, shall transmit to the European Parliament, the CouncilEurogroup and representatives from the participating Member States whose currency is not the euro , the Commission, and the Court of Auditors accounts of the Board's provisional accounts for the preceding financial year.
Amendment 891 #
Proposal for a regulation
Article 60 – paragraph 5
Article 60 – paragraph 5
5. The Executive Director shall, by 1 July following each financial year, shall send the final accounts to the European Parliament, the CouncilEurogroup and representatives from the participating Member States whose currency is not the euro, the Commission, and the Court of Auditors.
Amendment 934 #
Proposal for a regulation
Article 65 – paragraph 4
Article 65 – paragraph 4
4. If, after the initial period of time referred to in paragraph 1, the available financial means diminish below the target level specified in paragraph 1, contributions calculated in accordance with Article 66 shall be raised until the target level is reached. Where the available financial means amount to less than half of the target level, the annual contributions shall not be less than one fourth of the target level except in the case where such contributions could create a risk to the financial stability of the contributors.
Amendment 954 #
Proposal for a regulation
Article 66 – paragraph 2 a (new)
Article 66 – paragraph 2 a (new)
2a. The individual contributions of each institution referred to in paragraph 1 are definitive and can under no circumstances be reimbursed (retroactively) .
Amendment 955 #
Proposal for a regulation
Article 66 – paragraph 2 b (new)
Article 66 – paragraph 2 b (new)
2b. Where participating Member States have already established national resolution financing arrangements, they shall be able to provide that the national resolution financing arrangements use their available financial means, collected from institutions in the past by way of ex- ante contributions, to compensate institutions for the ex-ante contributions which those institutions may be required to pay into the Fund. Such restitution shall be without prejudice to the obligations of Member States under Directive 94/18/EC of the European Parliament and of the Council 18. __________________ 18 Directive 94/18/EC of the European Parliament and of the Council of 30 May 1994 amending Directive 80/390/EEC coordinating the requirements for the drawing up, scrutiny and distribution of the listing particulars to be published for the admission of securities to official stock-exchange listing, with regard to the obligation to publish listing particulars. OJ L 135, 31.5.1994, p. 1.
Amendment 976 #
Proposal for a regulation
Article 70 – paragraph 3
Article 70 – paragraph 3
3. The Board shall invest the amounts held in the Fund in obligations of the participating Member States or intergovernmental organisations, or in highly liquid assets of high credit worthiness. Investments should be sufficiently sectorally and geographically diversified. The return on those investments shall benefit the Fund.
Amendment 1018 #
Proposal for a regulation
Article 78 – paragraph 4
Article 78 – paragraph 4
4. The Board shall compensate a national resolution authority of a participating Member State for the damages to which it has been condemned by a national court, or which it has, in agreement with the Board, committed to pay in accordance with an amicable settlement, which are the consequences of an act or omission committed by that national resolution authority in the course of any resolution under this Regulation, unless that act or omission constituted a violation of Union law, this Regulation, a Decision of the Commission or a Decision of the Board, or constituted a manifest and serious error of judgement.
Amendment 1029 #
Proposal for a regulation
Article 83 – paragraph 1 – point a
Article 83 – paragraph 1 – point a
(a) the functioning of the SRM and the impact of the its resolution activities on the interests of the Union as a whole and on the coherence and integrity of the internal market in financial services, including its possible impact on the structures of the national banking systems within the Union, and regarding the effectiveness of cooperation and information sharing arrangements within the SRM, between the SRM and the SSM, and between the SRM and national resolution authorities and national competent authorities of non- participating Member States; . The following dimensions shall in particular be subject to a close assessment: - whether a Treaty change is necessary to achieve the primary objectives of maintaining stability and public confidence in the financial system; - whether the cooperation between the SRM and the SSM, EBA, ESMA, EIOPA and the European Systemic Risk Board (ESRB), and the other authorities which form part of the ESFS is appropriate; - whether the investment portfolio in accordance with article 70 of this regulation is made of sound and diversified assets; - whether the link between sovereign debt and banking risk has been solved; - whether the accountability mechanism is appropriate; - whether the voting modalities are appropriate.
Amendment 1043 #
Proposal for a regulation
Article 87 a (new)
Article 87 a (new)
Article 87a Establishment of a common community loan facility (fiscal backstop) for the participating Member States In accordance with Article 311 of the TFEU stating that the Union shall provide itself with the means necessary to attain its objectives and carry through its policies and with Article 323 of the TFEU stating that the Parliament, the Council and the Commission shall ensure that the financial means are made available to allow the Union to fulfil its legal obligations in respect of third parties, the Commission shall consider presenting* to the European Parliament and the Council a legislative proposal on the establishment of a common community loan facility (fiscal backstop) for the participating Member States in the event that the amounts raised in accordance with Articles 66 and 67 are not immediately accessible or sufficient to cover the expenses incurred by the use of the Fund. When drafting this proposal, the Commission shall duly take into account the assessment and the recommendations to be drawn by the EU High-level Group on own resources on this specific issue. __________________ *No later than one year after the entry into force of this regulation and in due time before the Commission's proposal on the post electoral revision of the MFF (2014-2020)
Amendment 1044 #
Proposal for a regulation
Article 88 – paragraph 1 a (new)
Article 88 – paragraph 1 a (new)
Article 6 paragraph 4 ceases to apply once the target funding level referred to in article 65 paragraph 1 is reached and the Fund is complemented with a common community loan facility (fiscal backstop) for the participating Member States to cope with situations referred to in article 69 paragraph 1.