2016/2959(RSP) | [ParlTrack]

BETA

Changes: 2021/12/18events.docs.url, events, docs.docs.url, 2020/01/19docs.body, events.docs.url, docs.docs.url, 2019/09/04committees.date, 2019/07/06procedure.subtype, events, procedure.dossier_of_the_committee, activities, committees, procedure.subject, docs, links, other, procedure.legal_basis, procedure.title

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Procedure completed

2016/2959(RSP) Finalisation of Basel III

Role	Committee	Rapporteur	Shadows
Lead	ECON

Lead committee dossier: ECON/8/08164
Legal Basis RoP 128-p5

Subjects

Links

Activites

2016/11/23 Decision by Parliament, 1st reading/single reading
- T8-0439/2016
2016/11/21 Debate in Parliament
- Debate in Parliament

Documents

Debate in Parliament: Debate in Parliament
Decision by Parliament, 1st reading/single reading: T8-0439/2016

History

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

2019-07-06Show (13) Changes | Timetravel

activities	date: 2016-11-21T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20161121&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament date: 2016-11-23T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0439 type: Decision by Parliament, 1st reading/single reading title: T8-0439/2016 body: EP type: Decision by Parliament, 1st reading/single reading
committees/0	type Responsible Committee body EP committee_full Economic and Monetary Affairs committee ECON associated False date
committees/0	body EP responsible True committee_full Economic and Monetary Affairs committee ECON
docs	date: 2016-10-27T00:00:00 docs: title: B8-1810/2016 type: Oral question/interpellation by Parliament body: EP date: 2016-11-04T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE592.438 title: PE592.438 type: Amendments tabled in committee body: EP date: 2016-11-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B8-2016-1226&language=EN title: B8-1226/2016 type: Motion for a resolution body: EP date: 2017-03-22T00:00:00 docs: url: /oeil/spdoc.do?i=27844&j=0&l=en title: SP(2017)148 type: Commission response to text adopted in plenary
events	date: 2016-11-21T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20161121&type=CRE title: Debate in Parliament date: 2016-11-23T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=27844&l=en title: Results of vote in Parliament date: 2016-11-23T00:00:00 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-2016-0439 title: T8-0439/2016 summary: The European Parliament adopted a resolution tabled by the Committee on Economic and Monetary Affairs on the finalisation of Basel III. As a reminder, the G20 leaders agreed in the aftermath of the financial crisis to a comprehensive reform agenda strengthening the regulatory standards of international banks, including the strengthening of prudential requirements. The Basel Committee on Banking Supervision (BCBS) is developing internationally agreed minimum standards for prudential requirements for large, internationally active banks. It monitors and reviews the implementation of these global standards and reports to the G20. Parliament welcomed the post-crisis work of the BCBS in this field and underlined the importance of sound global standards and principles for the prudential regulation of banks. It reaffirmed that banks need to be well capitalised in order to support the real economy, reduce systemic risk and avoid any repeat of the enormous bailouts witnessed during the crisis. It stressed the need for appropriate regulation of the shadow banking sector in order to ensure fair competition and financial stability. Members noted the ongoing work of the BCBS to finalise the Basel III framework intended to increase simplicity, comparability and convergence of the risk-weighted capital framework in order to address excessive variability in risk-weighted assets and to apply the same rules to the same risks. Parliament stressed that the current revision should respect two principles: the principle stated by the Group of Governors and Heads of Supervision (GHOS) of not significantly increasing overall capital requirements, while at the same time strengthening the overall financial position of European banks; the principle to be respected by the revision is to promote the level playing field at the global level by mitigating – rather than exacerbating – the differences between jurisdictions and banking models, and by not unduly penalising the EU banking model. Concerned that early analysis of recent BCBS drafts indicates that the reform package at its current stage might not be in compliance with the two abovementioned principles, Parliament called on the BCBS to revise its proposals accordingly and on the ECB and the Single Supervisory Mechanism ( SSM ) to ensure their respect in the finalisation and monitoring of the new standard. The BCBS is called upon to assess carefully and comprehensively the qualitative and quantitative impact of the new reforms , taking into consideration their impact on different jurisdictions and different banking models before the adoption of the standard by the Committee. It should perform the necessary adjustments in case imbalances occur during this analysis. Parliament also called on the BCBS to preserve the risk sensitivity of the prudential regulation, including by ensuring that the revision of the standardised approach and the scope for applying the IRBA overcome the risks of regulatory arbitrage and well reflect the specificities of different forms of financing, such as real estate lending, infrastructure financing and specialised lending, and by avoiding disproportionate effects for the real economy. It recalled the key role of the European and national banking supervisors in ensuring supervisory convergence in the EU, taking into account the principle of proportionality and the appropriateness of the rules for different banking models. The Commission is invited to take all these principles into account when determining the scope of implementation and when translating the BCBS proposals into EU law. date: 2016-11-23T00:00:00 type: End of procedure in Parliament body: EP
links
other
procedure/dossier_of_the_committee	Old ECON/8/08164 New ECON/8/08164
procedure/legal_basis/0	Rules of Procedure EP 136-p5
procedure/legal_basis/0	Rules of Procedure of the European Parliament EP 128-p5
procedure/subject	Old 2.50.04 Banks and credit 2.50.10 Financial supervision New 2.50.04 Banks and credit 2.50.10 Financial supervision
procedure/subtype	Old Debate or resolution on oral questions New Debate or resolution on oral question/interpellation
procedure/title	Old Finalisation of Basel III New Resolution on the finalisation of Basel III

2016-11-26Show (3) Changes | Timetravel

activities/1/docs	url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0439 type: Decision by Parliament, 1st reading/single reading title: T8-0439/2016
activities/1/type	Old Vote in plenary scheduled New Decision by Parliament, 1st reading/single reading
procedure/stage_reached	Old Awaiting Parliament 1st reading / single reading / budget 1st stage New Procedure completed

2016-11-24Show (1) Changes | Timetravel

activities/0

date: 2016-11-21T00:00:00

docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20161121&type=CRE type: Debate in Parliament title: Debate in Parliament

body: EP

type: Debate in Parliament

2016-11-23Show (1) Changes | Timetravel

activities/0

date: 2016-11-21T00:00:00

body: EP

type: Debate in plenary scheduled

2016-11-22Show (3) Changes | Timetravel

activities/0/date	Old 2016-11-23T00:00:00 New 2016-11-21T00:00:00
activities/1/date	Old 2016-11-24T00:00:00 New 2016-11-23T00:00:00
procedure/title	Old Finalization of Basel III New Finalisation of Basel III

2016-11-01Show (5) Changes

activities	date: 2016-11-23T00:00:00 body: EP type: Debate in plenary scheduled date: 2016-11-24T00:00:00 body: EP type: Vote in plenary scheduled
committees	body: EP responsible: True committee_full: Economic and Monetary Affairs committee: ECON
links
other
procedure	dossier_of_the_committee ECON/8/08164 reference 2016/2959(RSP) title Finalization of Basel III legal_basis Rules of Procedure of the European Parliament EP 128-p5 stage_reached Awaiting Parliament 1st reading / single reading / budget 1st stage subtype Debate or resolution on oral questions type RSP - Resolutions on topical subjects subject 2.50.04 Banks and credit 2.50.10 Financial supervision