Procedure completed
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | ECON | PEIJS Karla M.H. (PPE-DE) |
Legal Basis EC Treaty (after Amsterdam) EC 047-p2-a1
Activites
- 2001/05/05 Final act published in Official Journal
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2001/04/04
Final act signed
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2001/04/04
End of procedure in Parliament
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2001/03/12
Act approved by Council, 2nd reading
- #2335
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2001/03/12
Council Meeting
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2001/03/08
Commission opinion on Parliament's position at 2nd reading
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COM(2001)0120
summary
As empowered by the Commission on 6 December 2000, the Member responsible stated in plenary session that the Commission could accept all the amendments in substance, subject to a check for overall clarity and consistency. This check has been carried out, the texts have been found to be sufficiently clear and the Commission is now able to accept them as they stand, although it would not be opposed to any drafting improvements should the Council decide by qualified majority that it was in favour of such improvements. The amendments relate in particular to : - the retaining in the context of the unity and universality of the procedure the exception provided for in the common position from application of the law of the home country to repurchase agreements but replace, when indicating the applicable law, the law of the place of conclusions of the contract by the law of the contract; - following and confirming the same principle for netting agreements; - following and confirming the same principle for transactions on regulated markets; - marginally modifying the common position but retain the exception it contains for rights in respect of securities, whether or not dematerialised, recorded in a register, an account or centralised deposit system in a Member State that remain governed by the law of the Member State where the register, account or centralised deposit system is located; - stipulating in a more analytical manner than in the common position that the rights in rem or reservation of title in respect of assets belonging to the insolvent credit institution remain governed by the law applicable to them; - stipulating more clearly than in the common position the principle that the right of a creditor to set his claims off against the claims of the credit institution remains governed by the law applicable to the credit institution's claim.
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COM(2001)0120
summary
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2001/01/16
Text adopted by Parliament, 2nd reading
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T5-0002/2001
summary
The European Parliament approved the report by Mrs Karla PEIJS (EPP/ED, Nl) on the common position designed to put in place a common set of rules governing the reorganisation and winding up of credit institutions, together with amendments. The amendments are designed to ensure consistency with other financial legislation, especially that relating to insolvency and the winding up of insurance companies. They are also designed to ensure that repurchasing and 'netting' agreements are not affected by the legislation.
- OJ C 262 18.09.2001, p. 0022-0040
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T5-0002/2001
summary
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2001/01/15
Debate in Parliament
- 2000/11/28 Committee recommendation tabled for plenary, 2nd reading
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2000/11/09
Committee draft report
- PE295.942
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2000/09/20
Committee referral announced in Parliament, 2nd reading
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2000/09/15
Commission communication on Council's position
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SEC(2000)1517
summary
The Commission is of the view that the vast majority of amendments proposed by the European Parliament have been incorporated into the text of the common position. The fact that few amendments were not included either reflects the Council's decision to delete the annexes, which is supported by the Commission, or is a consequence of the adoption of the Deposit Guarantee Scheme Directive. Additional articles have been included to address some of the concerns that surfaced during the work on the Insolvency Regulation. The solutions adopted in this proposal are in line with the solutions adopted in the Insolvency Regulation. The Commission therefore takes the view that the common position is acceptable.
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SEC(2000)1517
summary
- #2283
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2000/07/17
Council Meeting
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08733/2/2000
summary
The Council considers that all the amendments made to the amended Commission proposal are fully in line with the objectives of the proposed Directive. The main part of the amendments proposed by the European Parliament has been included in the common position. All changes made and the provisions aligned on the Insolvency Regulation which have been introduced serve to enhance the objectives of the Directive and to ensure legal consistency in Community legislation.
- OJ C 300 20.10.2000, p. 0013
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08733/2/2000
summary
- #2258
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2000/05/08
Council Meeting
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1993/12/02
Decision by Parliament, 1st reading/single reading
- T3-0681/1993
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1993/11/23
Report tabled for plenary confirming Parliament's position
- A3-0364/1993
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1993/11/23
Vote in committee, 1st reading/single reading
-
1988/01/04
Modified legislative proposal
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COM(1988)0004
summary
The Commission a number of the European Parliament's amendments, in particular those that : - clearly state that the provisions of the Directive are applicable to branches set up in Member States other than that in which the credit institutions has its head office; - require that reference is made to the 'competent authorities', as defined in the Directive, responsible for taking the measures set out in the annexed list; - delete the positive criteria which the Commission had felt it should include in order to define the reorganisation measures; - take up certain provisions relating to liquidation which would normally be covered by the Bankruptcy Convention and, therefore, the Commission has provided for an Annex II, modelled on the protocol annexed to that Convention, listing the winding-up procedures applicable to credit institutions; - define what is meant by a deposit-guarantee scheme.
- OJ C 036 08.02.1988, p. 0001
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COM(1988)0004
summary
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1987/03/13
Text adopted by Parliament, 1st reading/single reading
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T2-1057/1987
summary
In adopting the report drafted by Mr Fernand HERMAN (EPP, B), the European Parliament accepted this proposal subject to the following amendments: - the conditions defining the reorganisation measures are deleted; the measures taken will be those taken by the competent authorities and set down in the annexe; this list will need to be supplemented in the case of Spain and Portugal; - an Annexe II is added, specifying the reasons for winding-up; - deposit guarantee schemes have to compensate depositors or to protect them against any loss.
- OJ C 099 13.04.1987, p. 0190-0211
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T2-1057/1987
summary
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1987/03/12
Debate in Parliament
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1987/02/06
Committee report tabled for plenary, 1st reading/single reading
- A2-0239/1986
- OJ C 099 13.04.1987, p. 0026
- 1986/07/02 Economic and Social Committee: opinion, report
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1986/02/17
Committee referral announced in Parliament, 1st reading/single reading
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1985/12/19
Legislative proposal
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COM(1985)0788
summary
PURPOSE: To establish mutual recognition by Member States relating to the reorganisation and winding-up of credit institutions. PROPOSED ACT: Council Directive. CONTENT: The proposal provides a definition of "reorganization measures" as those measures which are intended to safeguard or restore the financial situation of a credit institution, e.g. the total or partial suspension of activities, the power to appoint an official to investigate the state and conduct of an authorized institution. It puts forward rules for the application of reorganization measures to credit institutions having their head office within the Community, e.g. the respective roles of home and host country regulatory authorities. It lays down corresponding rules for the application of reorganization measures to credit institutions having their head office outside the Community. Responsibility lies with the authorities in the host Member State, except where bilateral agreements exist with the home country. The proposal also contains rules for the winding-up of credit institutions having their head office within the Community, e.g. role of the regulatory authorities, effect on banking authorization, cross-frontier powers of liquidators. Corresponding rules for winding-up credit institutions having their head office outside the Community are provided for. Existing Member State deposit-guarantee schemes should cover deposits in branches of institutions having their head office in other Member States. Pending the introduction of schemes in all Member States, Member States with schemes should extend the cover to deposits in branches of their institutions in other Member States with no scheme, and do so under the same conditions as apply to domestic deposits.
- OJ C 356 31.12.1985, p. 0055
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COM(1985)0788
summary
Documents
- Legislative proposal published: COM(1985)0788
- Legislative proposal: OJ C 356 31.12.1985, p. 0055
- Economic and Social Committee: opinion, report: CES0633/1986
- Economic and Social Committee: opinion, report: OJ C 263 20.10.1986, p. 0013
- Committee report tabled for plenary, 1st reading/single reading: A2-0239/1986
- Committee report tabled for plenary, 1st reading/single reading: OJ C 099 13.04.1987, p. 0026
- Decision by Parliament, 1st reading/single reading: T2-1057/1987
- Text adopted by Parliament, 1st reading/single reading: OJ C 099 13.04.1987, p. 0190-0211
- Modified legislative proposal published: COM(1988)0004
- Modified legislative proposal: OJ C 036 08.02.1988, p. 0001
- Report tabled for plenary confirming Parliament's position: A3-0364/1993
- Decision by Parliament, 1st reading/single reading: T3-0681/1993
- Council position published: 08733/2/2000
- Council position: OJ C 300 20.10.2000, p. 0013
- Commission communication on Council's position: SEC(2000)1517
- Committee draft report: PE295.942
- Committee recommendation tabled for plenary, 2nd reading: A5-0369/2000
- Committee recommendation tabled for plenary, 2nd reading: OJ C 232 17.08.2001, p. 0010
- Decision by Parliament, 2nd reading: T5-0002/2001
- Text adopted by Parliament, 2nd reading: OJ C 262 18.09.2001, p. 0022-0040
- Commission opinion on Parliament's position at 2nd reading: COM(2001)0120
- : Directive 2001/24
- : OJ L 125 05.05.2001, p. 0015
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