[ParlTrack]

Proposal for a directive
Recital 12 a (new)

(12a) The financial crisis demonstrated links between the banking sector and so called 'shadow banking'. Some shadow banking usefully keeps risk separate from the banking sector and hence away from potential taxpayer or systemic impact. Nevertheless a fuller understanding of shadow banking operations, their linkages to financial institutions and regulation to provide transparency, reduction of systemic risk and elimination of any improper practices is a necessary part of financial stability. Additional reporting from financial institutions can establish some of this but specific new regulation will also be necessary.

2012/03/07
Committee: ECON

Sharon BOWLES, Ramon TREMOSA i BALCELLS

Proposal for a directive
Recital 54 a (new)

(54a) The Commission should be empowered to adopt, by means of delegated acts, and in response to recommendations by the ESRB, modifications to risk weightings or other prudential measures in order to respond to market developments creating macro- prudential risks. The EBA, working in conjunction with the ESRB, should also issue guidelines for macro-prudential intervention by supervisors at individual Member State level, review all such measures and when appropriate advise the Commission if the measures taken are unjustified. The Commission may demand that unjustified measures be revoked.

2012/03/07
Committee: ECON

Sharon BOWLES, Ramon TREMOSA i BALCELLS

Proposal for a directive
Article 87 – paragraph 1 – introductory part

1. Competent authorities shall require that all members of the management body of any institution shall at all times be of sufficiently good repute, possess sufficient knowledge, skills and experience and commit sufficient time to perform their duties, and allowing for a broad range of experience to be acknowledged so as not to discriminate against women. Members of the management body shall, in particular, fulfil the following requirements:

2012/03/07
Committee: ECON

Sharon BOWLES, Ramon TREMOSA i BALCELLS, Sylvie GOULARD

Proposal for a directive
Article 88 – paragraph 2 – point f a (new)

(fa) no member of the management body shall be involved in deciding his or her own remuneration package.

2012/03/07
Committee: ECON

Sharon BOWLES, Olle SCHMIDT, Ramon TREMOSA i BALCELLS

Proposal for a directive
Article 89 a (new)

Article 89a Institutions that benefit from ECB long- term refinancing operations In the case of institutions that benefit from any long- term financing operations from the ECB, the following principles shall apply in addition to those set out in Article 88(2): (a) Disclosure of profit made from the ECB LTRO through carry trades; (b) Any profit from carry trades should not count towards computation of remuneration and bonus pools.

2012/03/07
Committee: ECON

Sharon BOWLES, Ramon TREMOSA i BALCELLS

Proposal for a directive
Article 122 a (new)

Article 122 a Adoption of stricter prudential requirements by Member States 1. Based on an ESRB recommendation pursuant to Regulation (EU) No 1092/2010, or on their own initiative, and in any case informing in advance the ESRB, Member States may impose stricter prudential requirements than those provided under this Directive and under Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms], when macro-prudential risks are identified as posing a threat to financial stability at national level in the following areas: (a) own funds; (b) capital buffers, including capital buffers for systemically important financial institutions; (c) large exposures; (d) liquidity; (e) leverage ratio; (f) risk weights; (g) disclosure. 2. The stricter prudential requirements referred to in paragraph 1 shall be applied only by tightening the requirements by way of adjusting amounts, quantitative ratios and limits for the areas indicated in of paragraph 1, and in full compliance with all other aspects of the provisions of this Directive and of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms]. 3. The measures adopted under paragraph 1 shall apply to all institutions authorised by the competent authority under this Directive which operate in the territory of the Member State or to classes of such institutions, as identified on the basis of macro-prudential analyses by the macro-prudential authorities. 4. The competent macro-prudential authority, the ESRB and EBA shall publish the stricter prudential requirements adopted by national authorities under paragraph 1 on their respective websites. 5. The ESRB may assess the existence of the systemic risks and possible unintended consequences and spill over effects on other Member States that could result from the stricter requirements adopted under paragraph 1. The ESRB shall conduct the above assessment upon the request of the Commission or at least three Member States. 6. Where the ESRB determines that the identified macro-prudential risks to financial stability, as assessed in accordance with paragraph 5, that led to stricter prudential requirements are not justified or cease to exist, the Member States shall repeal the stricter requirements and the original provisions of this Directive and of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms] shall apply. If this does not occur, the ESRB shall issue a recommendation to the Commission to take action against the Member State. 7. Where a Member State decides not to follow a recommendation by the ESRB to impose stricter prudential requirements on an institution, the ESRB shall issue a recommendation to the Commission to take action against a Member State where the Member State concerned does not act appropriately from a systemic risk perspective. 8. Where a Member State imposes stricter prudential requirements under paragraph 1, the other Member States may, upon either their own initiative or an ESRB Recommendation, recognise those requirements for the purposes of their application to domestically authorised institutions as regards their activities in the Member State that first imposed those stricter prudential requirements. EBA is empowered to develop draft implementing technical standards to identify and measure the activities which are relevant for the purposes of this paragraph. Powers are delegated to the Commission to adopt the implementing technical standards referred to in the second subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010. The ESRB and EBA shall publish the stricter prudential requirements adopted by national authorities on their respective websites. 9. The ESRB may, in accordance with Regulation (EU) No 1092/2010, recommend the extension of the list of prudential requirements specified in paragraph 1. The Commission shall be empowered to adopt delegated acts in accordance with Article 445 of Regulation (EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms] for the purpose of extending the list of prudential requirements specified in paragraph 1.

2012/03/07
Committee: ECON

Sharon BOWLES, Ramon TREMOSA i BALCELLS

Proposal for a directive
Article 122 c (new)

Article 122c As a tool to prevent excessive deleveraging and encourage lending to the real economy during periods of economic downturn for macro-prudential benefit, Member States may impose ring- fencing to establish minimum capital requirements applicable to portfolios of SME loans, trade finance or other specific lending activities of critical significance to economic growth. Any such minimum capital requirement shall not normally be less than that which would be required for the current level of economic activity.

2012/03/07
Committee: ECON

7 Amendments of Ramon TREMOSA i BALCELLS related to 2011/0203(COD)

ParlTrack - 2011-2024