Activities of Alfredo PALLONE related to 2010/0207(COD)
Plenary speeches (5)
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Amendments (33)
Amendment 123 #
Proposal for a directive
Recital 22
Recital 22
(22) The financial means ofMember States shall determine the procedures for raising the resources needed to ensure that Deposit Guarantee Schemes should prihave sufficient financipally be used means for the repayment of depositors. They could, however, also be used in ord as laid down by this Directive in the event of insolvency of a credit institution. In many cases, however, support measures should be taken to avert to finance the transfer of deposits to another credit institution, provided that the costs borne by the Deposit Guarantee Scheme do not exceed the amount of covered deposits at the credit institution concerned. They could also to a certain extent,he insolvency of a credit institution since they have a more favourable effect in guaranteeing deposits than reimbursement of depositors. Moreover, such measures may make it possible to avoid further costs and adverse effects on financial stability and the confidence of depositors. It should therefore also be possible to use the resources of Deposit Guarantee Schemes for support measures. Support measures should always entail conditions with which the institution receiving the support must comply. It should, however, also be possible to use them in conjunction with the proper functioning of as circumscribed in the Directive, be used to financeredit institution, provided that the costs borne by the Deposit Guarantee Scheme do not exceed the amount of covered deposits at the pcrevention of bank failuresdit institution concerned. Such measures should comply with state aid rules. This isese options for action by Deposit Guarantee Scheme operators are without prejudice to the future Commission policy concerning the establishment of national bank resolution funds.
Amendment 125 #
Proposal for a directive
Recital 24
Recital 24
(24) Contributions to Deposit Guarantee Schemes should take account of the degree of risk incurred by their members. To this would allow to reflect the risk profiles of individual banks and lead to a fair calculation of contributions and to provide incentives to operate under a less risky business model. Developing a set of core indicators mandatory for allend, a standard approach to the identification of risk-dependent contributions to Deposit Guarantee Schemes should be laid down. However, the nature of the risks accepted by the affiliated credit institutions may vary depending on market circumstances and the business activities of the credit institutions. It is therefore worthwhile, in addition to the standard approach, to make it possible for Deposit Guarantee Schemes also to use risk-dependent procedures of their own in so far as they comply with the guidelines to be drawn up by the European Banking Authority after consulting the European Forum of Deposit Insurers (EFDI). This takes account of the risk profiles of individual banks, leads to a more precise calculation of contributions, tailored to market circumstances in the Member States, and another set of optional supplementary indicators would introduce such harmonisation gradually. provides incentives to operate under a less risky business model. In order to take account of particularly low-risk sectors of lending which are governed by special laws, corresponding reductions in the contributions to be paid should be provided for.
Amendment 145 #
Proposal for a directive
Article 2 – paragraph 1 – point g a (new)
Article 2 – paragraph 1 – point g a (new)
(ga) ‘individual contribution base’ means: covered deposits of the individual member of the Deposit Guarantee Scheme multiplied by its risk weight as referred to in Article 11;
Amendment 148 #
Proposal for a directive
Article 2 – paragraph 1 – point h
Article 2 – paragraph 1 – point h
(h) 'target level' means 1.5% of eligiblecovered deposits for the coverage of which a Deposit Guarantee Scheme is responsible;
Amendment 159 #
Proposal for a directive
Article 3 – paragraph 6 – subparagraph 1
Article 3 – paragraph 6 – subparagraph 1
Member States shall ensure that the procedures adopted by Deposit Guarantee Schemes accord with the provisions of Article 11(3) or the guidelines adopted by the European Banking Authority pursuant to Article 11(5), that Deposit Guarantee Schemes perform tests of their systems and that they are informed immediately in the event that the competent authorities detect problems in a credit institution that are likely to give rise to the intervention of Deposit Guarantee Schemes.
Amendment 191 #
Proposal for a directive
Article 7 – paragraph 1 – subparagraph 1
Article 7 – paragraph 1 – subparagraph 1
Deposit Guarantee Schemes shall be in a position to repay unavailable deposits within 720 days of the date on which the competent authorities make a determination as referred to in Article 2(1)(e)(i) or a judicial authority makes a ruling as referred to in Article 2(1)(e)(ii). By 31 December 2014 the Commission shall submit to the European Parliament and to the Council a report on the feasibility and costs of reducing the payout period to 7 days.
Amendment 209 #
Proposal for a directive
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Without prejudice to any other rights which they may have under national law and subject to paragraph 3, schemes which make payments under guarantee shall have the right of subrogation to the rights of depositors in liquidation proceedings for an amount equal to their payments. Rights subject to the right of subrogation referred to in this paragraph, shall have the first rank after the right of depositors referred to in paragraph 1 and before all other rights against the liquidator.
Amendment 212 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 1
Article 9 – paragraph 1 – subparagraph 1
Member States shall ensure that Deposit Guarantee Schemes have in place adequate systems to determine their potential liabilities. The available financial means of Deposit Guarantee Schemes shall be proportionate to these liabilities represented by the deposits covered. The Member States shall determine the procedures for raising the resources to ensure that Deposit Guarantee Schemes have sufficient financial means proportionate to these liabilities to reimburse the deposits referred to in Article 7(1), first paragraph, of this Directive.
Amendment 215 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2
Article 9 – paragraph 1 – subparagraph 2
Deposit Guarantee Schemes shall raise the available financial means by regular contributions from their members on 30 June and 30 December of each yearpaid ex ante or ex post in accordance with the provisions taken by the Member State on the basis of their systemic stability. This shall not prevent additional financing from other sources. One-off entry fees may not be requested..
Amendment 223 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
The available financial means shall at least reach the target level. Where the financing capacity falls short of the target level, the payment of contributions shall resume at least until the target level is reached again. Where the available financial means amount to under procedures and timescaless than two thirds of the target level, the regular contribution shall not be less than 0.25% of eligible depositsdetermined by the competent authorities of each Member State.
Amendment 225 #
Proposal for a directive
Article 9 – paragraph 2
Article 9 – paragraph 2
Amendment 229 #
Proposal for a directive
Article 9 – paragraph 3
Article 9 – paragraph 3
Amendment 235 #
Proposal for a directive
Article 9 – paragraph 4 – subparagraph 1
Article 9 – paragraph 4 – subparagraph 1
The cumulated amount of contributions referred to paragraphs 1 and 2 may not exceed 1% of eligiblecovered deposits per calendar year.
Amendment 237 #
Proposal for a directive
Article 9 – paragraph 4 – subparagraph 2
Article 9 – paragraph 4 – subparagraph 2
The competent authorities may entirely or partially exempt a credit institution from the obligation referred to in that paragraph 2 if the sum of payments referred to in paragraphs 1 and 2 would jeopardize the settlement of claims of other creditors against it. Such exemption shall not be granted for a longer period than 6 months but may be renewed on request of the credit institution.
Amendment 242 #
Proposal for a directive
Article 9 – paragraph 5 – subparagraph 1
Article 9 – paragraph 5 – subparagraph 1
The financial means referred toavailable under a Deposit Guarantee Scheme as defined in paragraphs 1, 2 and 3first subparagraph, of this Article shall principally be used in order to repay depositors pursuant to this Directive.
Amendment 247 #
Proposal for a directive
Article 9 – paragraph 5 – subparagraph 3 – introductory part
Article 9 – paragraph 5 – subparagraph 3 – introductory part
Amendment 250 #
Proposal for a directive
Article 9 – paragraph 5 – subparagraph 3 – point a
Article 9 – paragraph 5 – subparagraph 3 – point a
Amendment 252 #
Proposal for a directive
Article 9 – paragraph 5 – subparagraph 3 – point b
Article 9 – paragraph 5 – subparagraph 3 – point b
Amendment 254 #
Proposal for a directive
Article 9 – paragraph 5 – subparagraph 4
Article 9 – paragraph 5 – subparagraph 4
Amendment 263 #
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 1 – point g
Article 10 – paragraph 1 – subparagraph 1 – point g
Amendment 264 #
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1 – subparagraph 1
[[amount of covered deposits to be repaid under Article 8(1)] – [available financial means] + amount of alternative funding arrangements referred to in Article 9(6).
Amendment 265 #
Proposal for a directive
Article 10 – paragraph 2 – point a
Article 10 – paragraph 2 – point a
a) each scheme shall lend the amount proportionate to the amount of eligiblecovered deposits at each scheme without taking account of the borrowing scheme and Deposit Guarantee Schemes referred to under point (a). The amounts shall be calculated pursuant to the latest confirmed monthly information referred to in Article 9(7).
Amendment 268 #
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
4. Member States shall ensure that the contributions levied by the borrowing scheme are sufficient to reimburse the amount borrowed and to re-establish the target level as soon as possiblein accordance with the procedures and timescales determined by the respective competent authorities.
Amendment 269 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. The contributions to Deposit Guarantee Schemes referred to in Article 9 shall be determined for each member on the basis of the degree of risk incurred by it. Credit institutions shall not pay less than 75% or more than 200% of the amount that a bank with an average risk would have to contribute. Member States may decide that members of Schemes referred to in Article 1(3) and (4) pay lower contributions to Deposit Guarantee Schemes but not less than 37.45% of the amount that a bank with an average risk would have to contribute..
Amendment 277 #
Proposal for a directive
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. Member States shall ensure, through their national competent authorities, that the Schemes referred to in Article 1(3) hold sufficient financial resources in order to grant immediately and unconditionally the support necessary to avoid bankruptcy of its members in case it becomes necessary.
Amendment 281 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. The determination of the degree of risk incurrassumed and the calculation of contributions shall be based on the elements referred to in Annex I and IIgeneral principles laid down in Annex I and II, while it should be the task of the competent authorities of each Member State to set thresholds for the indicators, scores and weights in respect of the classification model for credit institutions which are members of the scheme referred to in Article 1(2).
Amendment 285 #
Proposal for a directive
Article 11 – paragraph 3
Article 11 – paragraph 3
3. Paragraph 2 shall not apply to Deposit Guarantee Schemes referred to inBy derogation from the standardised approach in paragraphs 1 and 2, Deposit Guarantee Schemes may use their own risk-based methods to determine the degree of risk incurred by members and calculate contributions by member bodies to the Deposit Guarantee Scheme. Calculation of the contributions shall be proportional to the commercial risk of the institute in question and take due consideration of the risk profiles of the various business models. The procedures may also calculate the contribution base from the assets side of the balance sheet and consider capital adequacy, the quality of the assets and liquidity at least as risk indicators. The procedures must be approved by the respective national supervisory authorities and by the European Banking Authority and accord with the guidelines developed by the European Banking Authority pursuant to Article 11(25). The European Banking Authority shall conduct a review of compliance with the guidelines whenever the scheme is changed and at periodic intervals of at least every five years.
Amendment 289 #
Proposal for a directive
Article 11 – paragraph 4
Article 11 – paragraph 4
4. In order to ensure specify the elements ofuniform conditions for the application of the definitions and methods underdescribed in Annex II Part A, powers are delegated to the Commission. These draft regulatory standards shall be adopted in accordance with Articles 7 to 7d of [EBA Regulation]. The European Banking Authority may develop draft regulatory standards for submission to the Commission for the standardised approach set out in paragraphs 1 and 2, the European Banking Authority shall develop draft regulatory standards. The European Banking Authority shall submit its draft technical regulatory standards to the Commission by 31 December 2012. Powers shall be delegated to the Commission to adopt the technical regulatory standards mentioned in subparagraph 1 in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 291 #
Proposal for a directive
Article 11 – paragraph 5
Article 11 – paragraph 5
5. By 31 December 2012, the European Banking Authority shall issue guidelines on the application of Annex II Part B pursuant to [and for the separate risk-based methods developed by the Deposit Guarantee Schemes under paragraph 3 pursuant to the procedure in Article 816 of the EBA Regulation] (EU) No 1093/2010
Amendment 292 #
Proposal for a directive
Article 11 – paragraph 5 a (new)
Article 11 – paragraph 5 a (new)
5a. By 31 December 2013, the Commission shall submit to the European Parliament and to the Council a report on the possibility for applying reduced risk based contributions to the members of schemes which provide protection against insolvency in addition to Deposit Guarantee Schemes and whose financing and functioning is harmonised at European level.
Amendment 312 #
Proposal for a directive
Article 19 – paragraph 5
Article 19 – paragraph 5
5. The Commission, supported by the [European Banking Authority], shall submit to the European Parliament and to the Council by 31 December 2015 a report on the progress towards the implementation of this Directive. This report should cover notably the possibility to determine the target level on the basis of covered deposits, without diminishing the protection of depositors.
Amendment 314 #
Proposal for a directive
Article 20 – paragraph 1 – subparagraph 3
Article 20 – paragraph 1 – subparagraph 3
By way of derogation from the first subparagraph, Member States shall bring into force the laws, regulations and administrative provisions necessary for them to comply with Article 7(1) and 9(5) by 31 December 2013. However, the percentage of eligible deposits referred to in Article 9(5)(a) shall not apply before 1 January 2014. Until 31 December 2017, a percentage of 0.5% shall apply. After that date and until 31 December 2020, a percentage of 0.75% shall apply.
Amendment 315 #
Proposal for a directive
Annex 1 – point 2 a (new)
Annex 1 – point 2 a (new)
2 a. The number of risk classes for calculating contributions based on risks to the Deposit Guarantee Schemes shall be determined in accordance with the provisions laid down in Directive 2006/48/EC and subsequent amendments, Annex VII, part 4, point 6 ‘Internal ratings based method’ (IRB method’).