Activites

• 1998/07/21 Final act published in Official Journal
  • Directive 1998/33
  • OJ L 204 21.07.1998, p. 0029
• 1998/06/22 Final act signed
• 1998/06/22 End of procedure in Parliament
• #2095
• 1998/05/19 Council Meeting
• 1998/04/30 Decision by Parliament, 2nd reading
  • T4-0230/1998 summary

    The European Parliament approved the common position. �

• 1998/04/16 Vote in committee, 2nd reading
• 1998/04/02 Committee referral announced in Parliament, 2nd reading
• #2072
• 1998/03/09 Council Meeting
  • 12508/1/1997 summary

    The common position incorporates the two amendments proposed by Parliament and includes other changes, in particular: - a definition of the term 'recognized exchanges'; - introducing the same safeguards regarding exchange of information with third countries as apply within the Community; the information exchanged must be for the purpose of performing the supervisory task of the competent authorities and disclosure of this information is governed by professional secrecy; - enhancing prudential supervision by introducing certain restrictions concerning the weighting of assets items constituting claims on churches and religious communities; the reference to non-profit-making bodies and undertakings controlled by the churches and religious communities in question has been deleted, it has been made clear that churches and religious communities must raise taxes in order to be covered by the 20% risk weighting and finally it has been stipulated that the option to apply a 0% risk weighting set out in Directive 89/647/EEC shall not apply to the churches and communities covered by the provision; - introducing a provision allowing the competent authorities until 31 December 2006 to exempt over the counter contracts cleared by a clearing house from the credit risk capital requirements set out in Annex II of the directive. Strict criteria are laid down in order to ensure that the overall level of protection against credit risk provided by the clearing mechanism justifies cleared OTC contracts being treated in the same way as contracts traded on recognized exchanges. �

• #2044
• 1997/11/17 Council Meeting
• 1997/06/27 Modified legislative proposal published
  • COM(1997)0285 summary

    The Commission's amended proposal incorporated the two amendments adopted by the European Parliament at first reading: - the first amendment merely rectified a shortcoming in the initial proposal, aligning Article 5(3) of Directive 89/647/EEC with the proposed text by stipulating that it applies to all the items listed in the new Annexe III; - the second had the aim of specifying that the Member States continue to have the option of applying a weighting of 20% to collateral in the form of securities issued by Zone A regional governments or local authorities. �

• 1997/04/10 Debate in Parliament
  • T4-0182/1997 summary

    By adopting the report by Mrs Marlies MOSIEK-URBAIN (EPP, All), the European Parliament approved the Commission proposal, while emphasizing the need to guarantee banking secrecy and establish equal conditions of competition among the various institutions. Parliament adopted only two amendments with a view to making technical clarifications and improving the quality of the text. �

• 1997/02/25 Vote in committee, 1st reading/single reading
  • A4-0058/1997
• 1996/05/20 Committee referral announced in Parliament, 1st reading/single reading
• 1996/04/29 Legislative proposal published
  • COM(1996)0183 summary

    OBJECTIVE: The proposal for a European Parliament and Council Directive seeks to amend Article 12 of Directive 77/780/EEC on the coordination of laws, regulations and administrative provisions relating to the business of credit institutions, Articles 2, 6, 7, 8 and Annexes II and III of Directive 89/647/EEC on a solvency ratio for credit institutions and Article 2 and Annex II of Directive 93/6/EEC on the capital adequacy of investment firms and credit institutions. SUBSTANCE: Following the most recent meetings of the Banking Advisory Committee, a proposal was made to introduce a number of amendments to the above directives, either to take account of recent developments (such as the creation of the European Investment Fund) or to remedy the shortcomings of those directives (for example, the impossibility of exchanging information with non-banking authorities of third countries, the weighting of no-risk assets in regularization accounts, etc.). Further amendments reflect refinements of the supervisory treatment of over-the-counter derivative instruments as regulated by another international forum of banking supervisors. �

Documents

• Legislative proposal published: COM(1996)0183
• Committee report tabled for plenary, 1st reading/single reading: A4-0058/1997
• Decision by Parliament, 1st reading/single reading: T4-0182/1997
• Modified legislative proposal published: COM(1997)0285
• Council position published: 12508/1/1997
• Decision by Parliament, 2nd reading: T4-0230/1998
• : Directive 1998/33
• : OJ L 204 21.07.1998, p. 0029

History

(these mark the time of scraping, not the official date of the change)