BETA


2014/2157(INI) European Central Bank - 2013 annual report

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON ZALBA BIDEGAIN Pablo (icon: PPE PPE) SORU Renato (icon: S&D S&D), MARIAS Notis (icon: ECR ECR), TREMOSA I BALCELLS Ramon (icon: ALDE ALDE), URTASUN Ernest (icon: Verts/ALE Verts/ALE)
Committee Opinion EMPL CASA David (icon: PPE PPE) Laura AGEA (icon: EFDD EFDD), Marian HARKIN (icon: ALDE ALDE), Patrick LE HYARIC (icon: GUE/NGL GUE/NGL), Ulrike TREBESIUS (icon: ECR ECR)
Lead committee dossier:
Legal Basis:
RoP 54

Events

2015/03/10
   EP - Results of vote in Parliament
2015/03/10
   EP - Decision by Parliament
Details

The European Parliament adopted by 461 votes to 172, against 65 abstentions, a resolution on the European Central Bank Annual Report for 2013.

Monetary policy : Parliament welcomed the ECBs swift reaction in the face of a very challenging environment , and the fact that monetary policy has been aimed at reducing the level of stress in financial markets within the euro area, and at restoring investors confidence in the single currency.

Members remained deeply concerned at the fact that economic activity continues to be sluggish , with the euro area posting negative GDP growth in 2013, for the second year in a row, with GDP growth being weak over the first three quarters of 2014, and with high unemployment rates in many euro area Member States, reaching levels that are threatening the stability of the euro area and undermining popular and political support for the European project.

The resolution noted the possible deflation risks in the eurozone and noted that credit to the private sector has moved further into negative territory , with an annual rate of change of -2.3% in December 2013, compared with -0.7% in December 2012.

Parliament considered that the success of the announcement of the Outright Monetary Transactions (OMT) programme in lowering borrowing interest rates should not be used by Member States as an opportunity to avoid structural reforms aimed at enhancing growth potential and achieving fiscal sustainability in the medium term.

In this context, Members considered it of the utmost importance to create conditions for a rebound in investment in the euro area, both public and private , in the eurozone. Member States are called upon to:

· work on the underlying causes of the financial fragmentation which is still a major problem, with SMEs facing much higher borrowing costs, in particular in euro area countries already affected by severe economic conditions;

· put in place appropriate structural reforms in order to restore a favourable business environment.

Members agreed with President Draghi that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery and to make room for the cost of needed structural reforms. They considered that a greater focus on growth and public investment (such as the EUR 300 billion investment package proposed by Commission President Jean Claude Juncker) would serve to complement the ECBs policy efforts to increase employment and growth in Europe.

The ECB has repeatedly stated its readiness to use additional unconventional instruments within its mandate, and to alter the size or composition of its interventions, in the event of an excessively lengthy period of low inflation. Parliament remains open to the use of additional unconventional measures, but underlined that these measures will not be sufficient without the right mix of fiscal policy, investment and structural reforms .

According to Members, the unconventional monetary policy measures currently in place should be transitory in nature and aim at giving Member States time to consolidate their fiscal situation and implement the necessary structural reforms in order to stimulate economic growth and improvements in the labour market. They also encouraged the ECB to ensure that its policies are better attuned to the real economy.

Financial stability : stressing that consolidation of good governance in banks contributes to financial stability, the report welcomed the fact that the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014. It recalled that the democratic accountability of the new SSM before the European Parliament is crucial for ensuring the credibility of the new supervisory regime.

Given that the stress tests conducted by the European Banking Authority (EBA) in cooperation with the SSM have revealed continuing fragilities in the European Banking System , Members considered that the ECB has a major responsibility in ensuring that future bank recapitalisations will be carried out through the bail-in scheme when access to markets is difficult or impossible. In order to make bail-in more credible and effective, the European legislation should advance towards separating the more risky investment activities from traditional banking .

Concerned about the continuing dependence on central bank funding in many banks of the euro area, Parliament called for the creation of a well-regulated Capital Market Union in order to reduce the excessive dependence of the economies of the euro zone on the banking system.

Recalling that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015, Parliament stressed the need to continue developing the third pillar of the Banking Union.

Lastly, Parliament welcomed the step forward taken by the ECB in deciding to publish the summary minutes of its meetings , which should enter into force in January 2015.

Documents
2015/03/10
   EP - End of procedure in Parliament
2015/02/25
   EP - Debate in Parliament
2015/01/27
   EP - Committee report tabled for plenary
Details

The Committee on Economic and Monetary Affairs adopted an own-initiative report by Pablo ZALBA BIDEGAIN (EPP, ES) on the European Central Bank Annual Report for 2013.

The committee welcomed the ECBs swift reaction in the face of a very challenging environment , and the fact that monetary policy has been aimed at reducing the level of stress in financial markets within the euro area, and at restoring investors confidence in the single currency.

Members remained deeply concerned at the fact that economic activity continues to be sluggish , with the euro area posting negative GDP growth in 2013, for the second year in a row, with GDP growth being weak over the first three quarters of 2014, and with high unemployment rates in many euro area Member States, reaching levels that are threatening the stability of the euro area and undermining popular and political support for the European project.

The report noted the possible deflation risks in the eurozone and noted that credit to the private sector has moved further into negative territory, with an annual rate of change of -2.3% in December 2013, compared with -0.7% in December 2012.

In this context, Members considered it of the utmost importance to create conditions for a rebound in investment in the euro area, both public and private , in the eurozone.

Member States are called upon to:

work on the underlying causes of the financial fragmentation which is still a major problem, with SMEs facing much higher borrowing costs, in particular in euro area countries already affected by severe economic conditions; put in place appropriate structural reforms in order to restore a favourable business environment.

Members agreed with President Draghi that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery and to make room for the cost of needed structural reforms.

The ECB is encouraged to:

consider in its balance sheet expansion policy the buying of EIB project bonds , which fund some of the more productive investments in the euro area, particularly from those projects chosen by the Commission as having European added value after a cost-benefit analysis, especially TEN-T projects in energy and transport and projects related to the digital single market; ensure that its policies are better attuned to the real economy , in particular with regard to SMEs.

The report noted that the ECB has repeatedly stated its readiness to use additional unconventional instruments within its mandate, and to alter the size or composition of its interventions, in the event of an excessively lengthy period of low inflation; remains open to the use of additional unconventional measures, but underlines that these measures will not be sufficient without the right mix of fiscal policy, investment and structural reforms.

According to Members, the unconventional monetary policy measures currently in place should be transitory in nature and aim at giving Member States time to consolidate their fiscal situation and implement the necessary structural reforms in order to stimulate economic growth and improvements in the labour market.

Overall, Members recalled that monetary policy alone cannot stimulate aggregate demand unless it is complemented by adequate fiscal and structural reforms and policies at national level. They stressed that a clear separation between monetary and fiscal policy implies that the monetary authority should not provide subsidies to institutions benefiting from liquidity provision, as such subsidy provision amounts to fiscal policy.

They considered that a greater focus on growth and public investment (such as the EUR 300 billion investment package proposed by Commission President Jean Claude Juncker) would serve to complement the ECBs policy efforts to increase employment and growth in Europe.

Financial stability : stressing that consolidation of good governance in banks contributes to financial stability, the report welcomed the fact that the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014. It recalled that the democratic accountability of the new SSM before the European Parliament is crucial for ensuring the credibility of the new supervisory regime.

Given that the stress tests conducted by the European Banking Authority (EBA) in cooperation with the SSM have revealed continuing fragilities in the European Banking System , Members considered that the ECB has a major responsibility in ensuring that future bank recapitalisations will be carried out through the bail-in scheme when access to markets is difficult or impossible. In order to make bail-in more credible and effective, the European legislation should advance towards separating the more risky investment activities from traditional banking .

Concerned about the continuing dependence on central bank funding in many banks of the euro area, Members called for the creation of a well-regulated Capital Market Union in order to reduce the excessive dependence of the economies of the euro zone on the banking system.

Lastly, recalling that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015, the report stressed the need to continue developing the third pillar of the Banking Union;

Documents
2015/01/21
   EP - Vote in committee
2014/12/08
   EP - Committee opinion
Documents
2014/11/24
   EP - Committee referral announced in Parliament
2014/11/19
   EP - Amendments tabled in committee
Documents
2014/10/14
   EP - Committee draft report
Documents
2014/10/01
   EP - CASA David (PPE) appointed as rapporteur in EMPL
2014/07/22
   EP - ZALBA BIDEGAIN Pablo (PPE) appointed as rapporteur in ECON

Documents

Activities

Votes

A8-0011/2015 - Pablo Zalba Bidegain - Résolution #

2015/03/10 Outcome: +: 461, -: 172, 0: 65
DE RO PL IT ES BG BE PT CZ HU FR SK LT AT SE HR DK NL FI SI MT LU EE LV IE CY EL GB
Total
91
30
44
69
50
17
20
20
21
18
72
13
11
18
19
10
11
23
11
7
5
6
6
7
9
6
20
63
icon: PPE PPE
210
2

Denmark PPE

For (1)

1

Finland PPE

2

Malta PPE

2

Luxembourg PPE

3

Estonia PPE

For (1)

1
icon: S&D S&D
182

Croatia S&D

For (1)

1

Netherlands S&D

2

Slovenia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Estonia S&D

For (1)

1

Latvia S&D

1

Ireland S&D

For (1)

1

Cyprus S&D

2
icon: ALDE ALDE
65

Romania ALDE

2

Austria ALDE

For (1)

1

Croatia ALDE

2

Denmark ALDE

3

Slovenia ALDE

For (1)

1

Luxembourg ALDE

For (1)

1

Estonia ALDE

3

Ireland ALDE

For (1)

1

United Kingdom ALDE

1
icon: ECR ECR
61

Bulgaria ECR

2

Czechia ECR

2

Slovakia ECR

Against (1)

3

Lithuania ECR

Abstain (1)

1

Croatia ECR

Abstain (1)

1

Netherlands ECR

2

Finland ECR

2

Latvia ECR

Abstain (1)

1

Greece ECR

Against (1)

1
icon: EFDD EFDD
40

Poland EFDD

1

Czechia EFDD

Against (1)

1

France EFDD

Against (1)

1

Lithuania EFDD

2

Sweden EFDD

2
icon: NI NI
45

Germany NI

2

Poland NI

2

Belgium NI

Abstain (1)

1

Hungary NI

2

Netherlands NI

3

United Kingdom NI

Abstain (1)

1
icon: GUE/NGL GUE/NGL
46

Italy GUE/NGL

3

Sweden GUE/NGL

Against (1)

1

Netherlands GUE/NGL

2

Finland GUE/NGL

Against (1)

1

Ireland GUE/NGL

3

Cyprus GUE/NGL

2

United Kingdom GUE/NGL

Against (1)

1
icon: Verts/ALE Verts/ALE
48

Belgium Verts/ALE

2

Hungary Verts/ALE

2

Lithuania Verts/ALE

Against (1)

1

Austria Verts/ALE

3

Sweden Verts/ALE

3

Croatia Verts/ALE

Against (1)

1

Denmark Verts/ALE

Against (1)

1

Netherlands Verts/ALE

2

Finland Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Luxembourg Verts/ALE

Against (1)

1

Estonia Verts/ALE

Against (1)

1

Latvia Verts/ALE

Against (1)

1

United Kingdom Verts/ALE

6
AmendmentsDossier
304 2014/2157(INI)
2014/11/06 EMPL 88 amendments...
source: 541.528
2014/11/19 ECON 209 amendments...
source: 541.619
2014/12/01 EMPL 7 amendments...
source: 544.132

History

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

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  • date: 2014-12-08T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE539.692&secondRef=02 title: PE539.692 committee: EMPL type: Committee opinion body: EP
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  • date: 2014-11-24T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
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  • date: 2015-01-27T00:00:00 type: Committee report tabled for plenary, single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2015-0011&language=EN title: A8-0011/2015 summary: The Committee on Economic and Monetary Affairs adopted an own-initiative report by Pablo ZALBA BIDEGAIN (EPP, ES) on the European Central Bank Annual Report for 2013. The committee welcomed the ECBs swift reaction in the face of a very challenging environment , and the fact that monetary policy has been aimed at reducing the level of stress in financial markets within the euro area, and at restoring investors confidence in the single currency. Members remained deeply concerned at the fact that economic activity continues to be sluggish , with the euro area posting negative GDP growth in 2013, for the second year in a row, with GDP growth being weak over the first three quarters of 2014, and with high unemployment rates in many euro area Member States, reaching levels that are threatening the stability of the euro area and undermining popular and political support for the European project. The report noted the possible deflation risks in the eurozone and noted that credit to the private sector has moved further into negative territory, with an annual rate of change of -2.3% in December 2013, compared with -0.7% in December 2012. In this context, Members considered it of the utmost importance to create conditions for a rebound in investment in the euro area, both public and private , in the eurozone. Member States are called upon to: work on the underlying causes of the financial fragmentation which is still a major problem, with SMEs facing much higher borrowing costs, in particular in euro area countries already affected by severe economic conditions; put in place appropriate structural reforms in order to restore a favourable business environment. Members agreed with President Draghi that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery and to make room for the cost of needed structural reforms. The ECB is encouraged to: consider in its balance sheet expansion policy the buying of EIB project bonds , which fund some of the more productive investments in the euro area, particularly from those projects chosen by the Commission as having European added value after a cost-benefit analysis, especially TEN-T projects in energy and transport and projects related to the digital single market; ensure that its policies are better attuned to the real economy , in particular with regard to SMEs. The report noted that the ECB has repeatedly stated its readiness to use additional unconventional instruments within its mandate, and to alter the size or composition of its interventions, in the event of an excessively lengthy period of low inflation; remains open to the use of additional unconventional measures, but underlines that these measures will not be sufficient without the right mix of fiscal policy, investment and structural reforms. According to Members, the unconventional monetary policy measures currently in place should be transitory in nature and aim at giving Member States time to consolidate their fiscal situation and implement the necessary structural reforms in order to stimulate economic growth and improvements in the labour market. Overall, Members recalled that monetary policy alone cannot stimulate aggregate demand unless it is complemented by adequate fiscal and structural reforms and policies at national level. They stressed that a clear separation between monetary and fiscal policy implies that the monetary authority should not provide subsidies to institutions benefiting from liquidity provision, as such subsidy provision amounts to fiscal policy. They considered that a greater focus on growth and public investment (such as the EUR 300 billion investment package proposed by Commission President Jean Claude Juncker) would serve to complement the ECBs policy efforts to increase employment and growth in Europe. Financial stability : stressing that consolidation of good governance in banks contributes to financial stability, the report welcomed the fact that the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014. It recalled that the democratic accountability of the new SSM before the European Parliament is crucial for ensuring the credibility of the new supervisory regime. Given that the stress tests conducted by the European Banking Authority (EBA) in cooperation with the SSM have revealed continuing fragilities in the European Banking System , Members considered that the ECB has a major responsibility in ensuring that future bank recapitalisations will be carried out through the bail-in scheme when access to markets is difficult or impossible. In order to make bail-in more credible and effective, the European legislation should advance towards separating the more risky investment activities from traditional banking . Concerned about the continuing dependence on central bank funding in many banks of the euro area, Members called for the creation of a well-regulated Capital Market Union in order to reduce the excessive dependence of the economies of the euro zone on the banking system. Lastly, recalling that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015, the report stressed the need to continue developing the third pillar of the Banking Union;
  • date: 2015-02-25T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20150225&type=CRE title: Debate in Parliament
  • date: 2015-03-10T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=25226&l=en title: Results of vote in Parliament
  • date: 2015-03-10T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2015-0052 title: T8-0052/2015 summary: The European Parliament adopted by 461 votes to 172, against 65 abstentions, a resolution on the European Central Bank Annual Report for 2013. Monetary policy : Parliament welcomed the ECBs swift reaction in the face of a very challenging environment , and the fact that monetary policy has been aimed at reducing the level of stress in financial markets within the euro area, and at restoring investors confidence in the single currency. Members remained deeply concerned at the fact that economic activity continues to be sluggish , with the euro area posting negative GDP growth in 2013, for the second year in a row, with GDP growth being weak over the first three quarters of 2014, and with high unemployment rates in many euro area Member States, reaching levels that are threatening the stability of the euro area and undermining popular and political support for the European project. The resolution noted the possible deflation risks in the eurozone and noted that credit to the private sector has moved further into negative territory , with an annual rate of change of -2.3% in December 2013, compared with -0.7% in December 2012. Parliament considered that the success of the announcement of the Outright Monetary Transactions (OMT) programme in lowering borrowing interest rates should not be used by Member States as an opportunity to avoid structural reforms aimed at enhancing growth potential and achieving fiscal sustainability in the medium term. In this context, Members considered it of the utmost importance to create conditions for a rebound in investment in the euro area, both public and private , in the eurozone. Member States are called upon to: · work on the underlying causes of the financial fragmentation which is still a major problem, with SMEs facing much higher borrowing costs, in particular in euro area countries already affected by severe economic conditions; · put in place appropriate structural reforms in order to restore a favourable business environment. Members agreed with President Draghi that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery and to make room for the cost of needed structural reforms. They considered that a greater focus on growth and public investment (such as the EUR 300 billion investment package proposed by Commission President Jean Claude Juncker) would serve to complement the ECBs policy efforts to increase employment and growth in Europe. The ECB has repeatedly stated its readiness to use additional unconventional instruments within its mandate, and to alter the size or composition of its interventions, in the event of an excessively lengthy period of low inflation. Parliament remains open to the use of additional unconventional measures, but underlined that these measures will not be sufficient without the right mix of fiscal policy, investment and structural reforms . According to Members, the unconventional monetary policy measures currently in place should be transitory in nature and aim at giving Member States time to consolidate their fiscal situation and implement the necessary structural reforms in order to stimulate economic growth and improvements in the labour market. They also encouraged the ECB to ensure that its policies are better attuned to the real economy. Financial stability : stressing that consolidation of good governance in banks contributes to financial stability, the report welcomed the fact that the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014. It recalled that the democratic accountability of the new SSM before the European Parliament is crucial for ensuring the credibility of the new supervisory regime. Given that the stress tests conducted by the European Banking Authority (EBA) in cooperation with the SSM have revealed continuing fragilities in the European Banking System , Members considered that the ECB has a major responsibility in ensuring that future bank recapitalisations will be carried out through the bail-in scheme when access to markets is difficult or impossible. In order to make bail-in more credible and effective, the European legislation should advance towards separating the more risky investment activities from traditional banking . Concerned about the continuing dependence on central bank funding in many banks of the euro area, Parliament called for the creation of a well-regulated Capital Market Union in order to reduce the excessive dependence of the economies of the euro zone on the banking system. Recalling that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015, Parliament stressed the need to continue developing the third pillar of the Banking Union. Lastly, Parliament welcomed the step forward taken by the ECB in deciding to publish the summary minutes of its meetings , which should enter into force in January 2015.
  • date: 2015-03-10T00:00:00 type: End of procedure in Parliament body: EP
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  • body: EC dg: url: http://ec.europa.eu/dgs/economy_finance/index_en.htm title: Economic and Financial Affairs commissioner: MOSCOVICI Pierre
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ECON/8/00962
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Rules of Procedure EP 54
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Rules of Procedure of the European Parliament EP 052
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  • 5.20.03 European Central Bank (ECB), ESCB
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5.20.03
European Central Bank (ECB), ESCB
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Results of vote in Parliament
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  • The European Parliament adopted by 461 votes to 172, against 65 abstentions, a resolution on the European Central Bank Annual Report for 2013.

    Monetary policy: Parliament welcomed the ECBs swift reaction in the face of a very challenging environment, and the fact that monetary policy has been aimed at reducing the level of stress in financial markets within the euro area, and at restoring investors confidence in the single currency.

    Members remained deeply concerned at the fact that economic activity continues to be sluggish, with the euro area posting negative GDP growth in 2013, for the second year in a row, with GDP growth being weak over the first three quarters of 2014, and with high unemployment rates in many euro area Member States, reaching levels that are threatening the stability of the euro area and undermining popular and political support for the European project.

    The resolution noted the possible deflation risks in the eurozone and noted that credit to the private sector has moved further into negative territory, with an annual rate of change of -2.3% in December 2013, compared with -0.7% in December 2012.

    Parliament considered that the success of the announcement of the Outright Monetary Transactions (OMT) programme in lowering borrowing interest rates should not be used by Member States as an opportunity to avoid structural reforms aimed at enhancing growth potential and achieving fiscal sustainability in the medium term.

    In this context, Members considered it of the utmost importance to create conditions for a rebound in investment in the euro area, both public and private, in the eurozone. Member States are called upon to:

    ·         work on the underlying causes of the financial fragmentation which is still a major problem, with SMEs facing much higher borrowing costs, in particular in euro area countries already affected by severe economic conditions;

    ·         put in place appropriate structural reforms in order to restore a favourable business environment.

    Members agreed with President Draghi that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery and to make room for the cost of needed structural reforms. They considered that a greater focus on growth and public investment (such as the EUR 300 billion investment package proposed by Commission President Jean Claude Juncker) would serve to complement the ECBs policy efforts to increase employment and growth in Europe.

    The ECB has repeatedly stated its readiness to use additional unconventional instruments within its mandate, and to alter the size or composition of its interventions, in the event of an excessively lengthy period of low inflation. Parliament remains open to the use of additional unconventional measures, but underlined that these measures will not be sufficient without the right mix of fiscal policy, investment and structural reforms.

    According to Members, the unconventional monetary policy measures currently in place should be transitory in nature and aim at giving Member States time to consolidate their fiscal situation and implement the necessary structural reforms in order to stimulate economic growth and improvements in the labour market. They also encouraged the ECB to ensure that its policies are better attuned to the real economy.

    Financial stability: stressing that consolidation of good governance in banks contributes to financial stability, the report welcomed the fact that the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014. It recalled that the democratic accountability of the new SSM before the European Parliament is crucial for ensuring the credibility of the new supervisory regime.

    Given that the stress tests conducted by the European Banking Authority (EBA) in cooperation with the SSM have revealed continuing fragilities in the European Banking System, Members considered that the ECB has a major responsibility in ensuring that future bank recapitalisations will be carried out through the bail-in scheme when access to markets is difficult or impossible. In order to make bail-in more credible and effective, the European legislation should advance towards separating the more risky investment activities from traditional banking.

    Concerned about the continuing dependence on central bank funding in many banks of the euro area, Parliament called for the creation of a well-regulated Capital Market Union in order to reduce the excessive dependence of the economies of the euro zone on the banking system.

    Recalling that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015, Parliament stressed the need to continue developing the third pillar of the Banking Union.

    Lastly, Parliament welcomed the step forward taken by the ECB in deciding to publish the summary minutes of its meetings, which should enter into force in January 2015.

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  • body: EP shadows: group: S&D name: SORU Renato group: ECR name: MARIAS Notis group: ALDE name: TREMOSA I BALCELLS Ramon group: GUE/NGL name: VIEGAS Miguel group: Verts/ALE name: URTASUN Ernest responsible: True committee: ECON date: 2014-07-22T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: EPP name: ZALBA BIDEGAIN Pablo
  • body: EP responsible: False committee: EMPL date: 2014-10-01T00:00:00 committee_full: Employment and Social Affairs rapporteur: group: EPP name: CASA David
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  • date: 2015-01-21T00:00:00 body: EP type: Vote scheduled in committee, 1st reading/single reading
  • date: 2015-02-09T00:00:00 body: EP type: Indicative plenary sitting date, 1st reading/single reading
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  • body: EP shadows: group: S&D name: SORU Renato group: ECR name: MARIAS Notis group: ALDE name: TREMOSA I BALCELLS Ramon group: GUE/NGL name: VIEGAS Miguel group: Verts/ALE name: URTASUN Ernest responsible: True committee: ECON date: 2014-07-22T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: EPP name: ZALBA BIDEGAIN Pablo
  • body: EP responsible: False committee: EMPL date: 2014-10-01T00:00:00 committee_full: Employment and Social Affairs rapporteur: group: EPP name: CASA David
links
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    procedure
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    2014/2157(INI)
    title
    European Central Bank - 2013 annual report
    legal_basis
    Rules of Procedure of the European Parliament EP 052
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    Preparatory phase in Parliament
    subtype
    Annual report
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    INI - Own-initiative procedure
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    5.20.03 European Central Bank (ECB), ESCB