2022/2061(INI) Banking Union - annual report 2022
Next event: Indicative plenary sitting date 2023/05/31 more...
Lead committee dossier:
Next event: Indicative plenary sitting date 2023/05/31 more...
- Vote scheduled in committee 2023/04/24
Progress: Awaiting committee decision
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
PETER-HANSEN Kira Marie ( Verts/ALE)
|
FITZGERALD Frances ( EPP),
MARQUES Pedro ( S&D),
EROGLU Engin ( Renew),
PETER-HANSEN Kira Marie ( Verts/ALE),
BECK Gunnar ( ID),
ROOKMAKER Dorien ( ECR),
GUSMÃO José ( GUE/NGL)
|
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Subjects
Events
2023/05/31
Indicative plenary sitting date
2023/04/24
Vote scheduled in committee
2023/02/20
EP - Amendments tabled in committee
Documents
2022/12/14
EP - Committee draft report
Documents
2022/07/07
EP - Committee referral announced in Parliament
2022/05/17
EP - PETER-HANSEN Kira Marie (Verts/ALE) appointed as rapporteur in ECON
Documents
Activities
- Heidi HAUTALA
Plenary Speeches (0)
- Billy KELLEHER
Plenary Speeches (0)
- Kira Marie PETER-HANSEN
Plenary Speeches (0)
- Nicola BEER
Plenary Speeches (0)
| Amendments | Dossier |
| 310 |
2022/2061(INI)
2023/02/20
ECON
310 amendments...
Amendment 1 #
Motion for a resolution Citation 7 a (new) — having regard to the Commission proposal of 24 November 2015 for a regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 in order to establish a European Deposit Insurance Scheme (COM(2015)0586),
Amendment 10 #
Motion for a resolution Citation 12 c (new) — having regard to the final agreement reached on the Digital Operational Resilience Act (Regulation (EU) 2022/2554 of the European Parliament and of the Council) and its publication in the Official Journal of the European Union,
Amendment 100 #
Motion for a resolution Paragraph 2 2. Notes that the banking sector, in conjunction with public support measures, has acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience; is concerned, however, that the share of non-performing loans might increase when the COVID-19 pandemic public support measures are being phased out;
Amendment 101 #
Motion for a resolution Paragraph 2 a (new) 2 a. Recalls that the Banking Union (BU) is an essential complement to the Economic and Monetary Union (EMU) and the internal market, which aligns responsibility for supervision, resolution and funding at EU level and forces banks across the euro area to abide by the same rule book; welcomes the significant progress made since the financial crisis of 2008 through the establishment of the SSM and the SRM; highlights that Europe’s banks are in a stronger position to withstand financial shocks, and resolution mechanisms are in place to ensure that failing banks can be wound up without the use of taxpayers’ money; calls for the completion of the Banking Union, most notably through the implementation of the European Deposit Insurance Scheme (EDIS);
Amendment 102 #
Motion for a resolution Paragraph 2 a (new) 2 a. Recalls the role of energy prices in the inflation; recalls therefore the importance of investing in the green transition, namely in renewable energies, to mitigate inflation;
Amendment 103 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should
Amendment 104 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should
Amendment 105 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly
Amendment 106 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should
Amendment 107 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and
Amendment 108 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should
Amendment 109 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; deplores that many deviations from the international agreement have been introduced in the Council general approach, as highlighted by the EBA and the ECB in their joint statement of 4 November 2022; recalls that EU banks specificities were already taken into account in the calibration of Basel capital requirements; considers that any recognition of EU banks’ specificities should be limited to what is strictly necessary and not already reflected in the international framework;
Amendment 11 #
Motion for a resolution Citation 27 Amendment 110 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; stresses that the CRR and CRD review should fully reflect Basel III standards; emphasises that any consideration of EU banks' specificities should be very limited and should not water down the new requirements on output floor, credit and operational risk; calls for the reflection of banks exposures to stranded assets in the capital requirements;
Amendment 111 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; stresses the need for the EU to transpose the Basel agreement as close as possible to these standards, in order to remain a credible and reliable international partner; welcomes the European Parliament’s political agreement on the CRR and CRD;
Amendment 112 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner, while taking European specificities into account, and ensuring the competitiveness of EU banks and an international level playing field;
Amendment 113 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely
Amendment 114 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; regrets, however, that the international framework still encompasses undesirable carve-outs;
Amendment 115 #
Motion for a resolution Paragraph 3 3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner, while taking into account intra and extra EU differences;
Amendment 116 #
Motion for a resolution Paragraph 4 Amendment 117 #
Motion for a resolution Paragraph 4 4.
Amendment 118 #
Motion for a resolution Paragraph 4 4.
Amendment 119 #
Motion for a resolution Paragraph 4 4.
Amendment 12 #
Motion for a resolution Citation 28 Amendment 120 #
Motion for a resolution Paragraph 4 4.
Amendment 121 #
Motion for a resolution Paragraph 4 4. Notes that the ECB has decided to raise its main interest rates from 0 % to
Amendment 122 #
Motion for a resolution Paragraph 4 4. Notes that the ECB has decided to raise its main interest rates from 0 % to 2 % for the main refinancing operation rate; points out that through this operation the Eurosystem will be paying out EUR 92 billion in interest to credit institutions during 2023; calls upon the ECB to end paying interest on mandatory minimum reserves;
Amendment 123 #
Motion for a resolution Paragraph 4 4. Notes that the ECB has decided to raise its main interest rates from 0 % to 2 % for the main refinancing operation rate; notes that due to the still very high inflation, caused by the energy crisis, the consequences of the pandemic and the so- called 'greenflation', relatively high interest rates are to be expected;
Amendment 124 #
Motion for a resolution Paragraph 4 4. Notes that the ECB has decided to raise its main interest rates from 0 % to
Amendment 125 #
Motion for a resolution Paragraph 4 4. Notes that the ECB has decided to raise its main interest rates from 0 % to 2
Amendment 126 #
Motion for a resolution Paragraph 4 a (new) 4 a. Notes that the ECB’s final ‘Euro area bank lending survey’ of 2022 showed that banks tightened substantially their approval criteria for loans to firms and households, due to higher risk perceptions, declining risk tolerance and increased funding costs, loan demand decreased for firms and households, and banks' access to retail funding deteriorated moderately;5a recalls the key role of the EU banking sector in financing the recovery of the European economy and considers that the recovery will also depend on banks having sufficient capital to provide credit, particularly as public support measures in Member States are gradually removed; _________________ 5a https://www.ecb.europa.eu/stats/ecb_surve ys/bank_lending_survey/html/index.en.ht ml
Amendment 127 #
Motion for a resolution Paragraph 4 a (new) 4 a. Reminds that the inflationary environment was largely due to external factors, most notably the Russian war of aggression against Ukraine, namely its impact on energy, fertiliser and grain prices, and the disruption of supply chains resulting from the Covid-crisis, and not from low interest rates or excessive liquidity in financial markets;
Amendment 128 #
Motion for a resolution Paragraph 5 Amendment 129 #
Motion for a resolution Paragraph 5 Amendment 13 #
Motion for a resolution Citation 28 Amendment 130 #
Motion for a resolution Paragraph 5 5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024; welcomes the follow-up actions already adopted by the SSM, including the issuance of good practices, which contribute to sharing of information and disseminating knowledge across the banking sector; calls on SSM to set pillar 2 requirements for banks that would not comply with the recommendation issued as part of the stress test exercise;
Amendment 131 #
Motion for a resolution Paragraph 5 5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024; reiterates its concern with financial exposures stemming from climate risks;
Amendment 132 #
Motion for a resolution Paragraph 5 a (new) 5 a. Highlights that the interest rates offered to households and SMEs across the Member States are highly disparate; urges the Commission and banking supervisors to consider measures to ease the burden on mortgage holders and SMEs in Member States with higher lending rates so as to ensure that all citizens and businesses can access much- needed capital at fair and competitive rates;
Amendment 133 #
Motion for a resolution Paragraph 5 a (new) 5 a. Welcomes the launch of the 2023 EU-wide stress test by EBA, designed to assess the resilience of the European banking sector in an adverse scenario which takes into consideration hypothetical heightened geopolitical tensions, high inflation and higher interest rates having strong adverse effects on private consumption and investments, both domestically and globally;
Amendment 134 #
Motion for a resolution Paragraph 5 a (new) 5 a. Welcomes the adoption of the EBA binding standards and common templates for banks’ disclosures on ESG risks; considers that these disclosures would enhance stakeholders’ information regarding institutions’ exposures to ESG risks and their strategies to address them and therefore contribute to close the data gap on ESG risks;
Amendment 135 #
Motion for a resolution Paragraph 5 b (new) 5 b. Welcomes the adoption of the Corporate Sustainability Reporting Directive as a way to ensure consistency, comparability and reliability of sustainability information across the financial and non-financial sector;
Amendment 136 #
Motion for a resolution Paragraph 5 c (new) 5 c. Calls for the swift adoption of the Corporate Sustainability Due Diligence Directive (CSDDD); stresses that financial institutions should be included in the scope; highlights that effective and dissuasive sanctions should be implemented for corporates violating CSDDD provisions;
Amendment 137 #
Motion for a resolution Paragraph 6 6.
Amendment 138 #
Motion for a resolution Paragraph 6 6.
Amendment 139 #
Motion for a resolution Paragraph 6 6.
Amendment 14 #
Motion for a resolution Citation 28 a (new) — having regard to the European Supervisory Authorities’(ESAs)' ‘Joint Committee Report on Risks and Vulnerabilities in the EU Financial System’, JC 2022 09 of March 2022,
Amendment 140 #
Motion for a resolution Paragraph 6 6.
Amendment 141 #
Motion for a resolution Paragraph 6 6. Welcomes the ongoing work by the Commission and the ECB on the digital euro; looks forward to the Commission’s legislative proposal and
Amendment 142 #
Motion for a resolution Paragraph 6 6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on the digital euro; notes that the ECB1a points out in its working paper entitled ‘The economics of central bank digital currency’ of August 2022 that the digital euro can enhance banking competition, resulting in better interest rate transmission to the benefit of EU citizens; _________________ 1a https://www.ecb.europa.eu/pub/pdf/scpwp s/ecb.wp2713~91ddff9e7c.en.pdf
Amendment 143 #
Motion for a resolution Paragraph 6 6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on
Amendment 144 #
Motion for a resolution Paragraph 6 6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on the digital euro, which should be a universal and inclusive means of payment that can be used without the need for the latest technology;
Amendment 145 #
Motion for a resolution Paragraph 6 6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on the digital euro; invites the ECB to clearly communicate the precise use case and added value of the digital euro to European citizens;
Amendment 146 #
Motion for a resolution Paragraph 6 a (new) 6 a. Considers that an integrated Banking Union must be contingent on a well-functioning single market for retail financial services; calls on the Commission to assess the obstacles and barriers that arise for consumers when availing of retail banking products such as mortgage loans on a cross-border basis and to propose solutions to ensure that consumers can benefit from retail financial services across borders; notes, furthermore, the high discrepancy in mortgage interest rates across the Union;
Amendment 147 #
Motion for a resolution Paragraph 6 a (new) 6 a. points out that, depending on the precise design features of a digital euro, the impact on the banking sector might be significant affecting areas such as payments, banks' ability to perform maturity transformation and overall lending capacity; invites the ECB to consider those aspects as well as potential financial stability implications in the future work on the digital euro;
Amendment 148 #
Motion for a resolution Paragraph 6 b (new) 6 b. Notes the consolidation of retail banking services in certain Member States and the consequential reduction of consumer choice for retail banking customers and the challenges posed to banking supervision by large systemically important institutions; regrets the remaining barriers to cross-border retail banking services; emphasises the potential for an integrated Banking Union to improve competition and consumer choice in the area of retail banking, including through improved opportunities for the provision of cross-border retail banking services; stresses the benefits of a diversified and competitive banking sector in Europe;
Amendment 149 #
Motion for a resolution Paragraph 7 Amendment 15 #
Motion for a resolution Citation 28 b (new) — having regard to the EU Tax Observatory Working Paper 'Tax Planning by European Banks' of December 2022,
Amendment 150 #
Amendment 151 #
Motion for a resolution Paragraph 7 7.
Amendment 152 #
Motion for a resolution Paragraph 7 7.
Amendment 153 #
Motion for a resolution Paragraph 7 a (new) 7 a. Highlights the role of the banking system in supporting the transition to a carbon-neutral economy; considers that the new geopolitical environment increases the urgency of this transition, most notably on clean energy production; underlines the utmost importance of making a socially just transition; reminds that the costs of this transition will be lower than the cost of inaction, as acknowledged by the ECB; encourages the ECB to assess the possibility of a differentiated rate for sustainable investments that contribute most to reducing inflationary pressures, such as those in energy efficiency and renewable energy production;
Amendment 154 #
Motion for a resolution Paragraph 8 8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy
Amendment 155 #
Motion for a resolution Paragraph 8 8.
Amendment 156 #
Motion for a resolution Paragraph 8 8.
Amendment 157 #
Motion for a resolution Paragraph 8 8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection; notes in this regard that customers are receptive to digital services, and banks have used this to their advantage by accelerating their digital transformation, at the expense of retail branch networks; stresses that, while these changes may help banks ensure the sustainability of their business models, utmost attention should be given to rising inequalities between users that are digitally literate and others that can only make a limited use at best and that have no access to digital means in the worst cases;
Amendment 158 #
Motion for a resolution Paragraph 8 8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection;
Amendment 159 #
Motion for a resolution Paragraph 8 8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection, especially for vulnerable groups with low digital or financial literacy levels; calls on the EBA to assess the best options to tackle artificial complexity and the exclusion of vulnerable groups from using basic banking services; stresses the need for further investments and research to develop innovative ways to bolster the cybersecurity of the banking sector;
Amendment 16 #
Motion for a resolution Citation 29 — having regard to the declaration signed by the Chair of Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the
Amendment 160 #
Motion for a resolution Paragraph 8 a (new) 8 a. Recalls that risk reduction in the banking sector would contribute to a more stable, strong and economic growth oriented Banking Union; in this regard asks co-legislators to work on an agreement on the Commission proposal regarding accelerated extrajudicial collateral enforcement (AECE), which intends to provide banks, under certain conditions, with a mechanism to accelerate the value recovery from secured loans via an extrajudicial enforcement of procedures;
Amendment 161 #
Motion for a resolution Paragraph 8 a (new) 8 a. Welcomes the creation of Next Generation EU and emphasises its important role in the economic recovery after the Covid-crisis and how it must serve as an opportunity to enhance public and private investments and support the modernisation of the economy; stresses the importance of maintaining a macroeconomic stabilisation tool for the euro area;
Amendment 162 #
Motion for a resolution Paragraph 8 a (new) 8 a. Encourages banks to take advantage of the opportunities offered by the European market for banking services; stresses the need to remove unnecessary obstacles to cross-border activities within the European Union;
Amendment 163 #
Motion for a resolution Paragraph 8 a (new) 8 a. Regrets the failure of financial institutions to ensure gender-balance, especially in their management bodies; calls on supervisory authorities to make use of their supervisory powers to address lack of diversity and gender-balance in the management bodies of financial institutions;
Amendment 164 #
Motion for a resolution Paragraph 8 a (new) 8 a. Regrets the failure to ensure full gender balance in EU financial institutions and bodies, and in particular the fact that women continue to be underrepresented in executive positions in the field of banking and financial services; stresses that gender balance on boards and in the workforce brings both societal and economic returns; calls on financial institutions to regularly update their diversity and inclusion policies and to help foster healthy working cultures which prioritise inclusivity;
Amendment 165 #
Motion for a resolution Paragraph 8 b (new) 8 b. Calls on EU institutions and bodies to prioritise the achievement of full gender balance as soon as possible, including by providing gender-balanced shortlists of candidates for all future appointments requiring Parliament’s consent, including at the ECB and the EU’s top financial institutions, endeavouring to include at least one female and one male candidate per nomination procedure; recalls its resolution of 14 March 2019 aiming to secure gender balance in the forthcoming list of candidates for EU economic and monetary affairs nominations and reiterates its commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 166 #
Motion for a resolution Paragraph 8 b (new) 8 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 167 #
Motion for a resolution Paragraph 8 b (new) 8 b. Stresses that EU financial bodies shall respect gender-balance; deeply deplores that neither the ECB governing Council, nor the Supervisory Board of the ECB or the SRB Board are gender- balanced; reiterates the Parliament’s commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 168 #
Motion for a resolution Paragraph 8 c (new) 8 c. Welcomes the recent approval of the directive on improving the gender balance among directors of companies listed on stock exchanges, and related measures, following several years without progress; encourages all EU financial institutions to comply with the objectives of this legislation as soon as possible, thus contributing to gender balance in this sector;
Amendment 169 #
Motion for a resolution Paragraph 8 d (new) 8 d. calls on EU governments, institutions and bodies to achieve gender balance as soon as possible; reiterates the Parliament’s commitment not to take into account shortlists of candidates where gender balance has not been respected;
Amendment 17 #
Motion for a resolution Citation 30 a (new) — having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 170 #
Motion for a resolution Paragraph 9 9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also
Amendment 171 #
Motion for a resolution Paragraph 9 9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ;
Amendment 172 #
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.
Amendment 173 #
Motion for a resolution Paragraph 9 9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease
Amendment 174 #
Motion for a resolution Paragraph 9 9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease, although at different speeds and to different extents from one Member State to another; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’,
Amendment 175 #
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease, while differences between different Member States remain high; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’,
Amendment 176 #
Motion for a resolution Paragraph 9 a (new) 9 a. Notes the ECB review of its supervisory priorities for the next three years, which are (1) Strengthening resilience to immediate macro-financial and geopolitical shocks, (2) Addressing digitalisation challenges and strengthening management bodies' steering capabilities, and (3) Stepping up efforts in addressing climate change;
Amendment 177 #
Motion for a resolution Paragraph 9 a (new) 9 a. notes that according to the EBA’s ‘Risk Assessment of the European Banking System’ of December 2022, banks classify 9.5% of loans in stage 2, the highest level since 2018 when reporting was initiated1a; is concerned that this might point towards rising NPL rates going forward; _________________ 1a EBA. Risk Assessment of the European Banking System December 2022.
Amendment 178 #
Motion for a resolution Paragraph 10 10.
Amendment 179 #
Motion for a resolution Paragraph 10 10.
Amendment 18 #
Motion for a resolution Citation 30 b (new) — having regard to the Basel Committee on Banking Supervision standards on the Prudential treatment of crypto-asset exposures, of December 2022,
Amendment 180 #
Motion for a resolution Paragraph 10 10. Notes that the banking sector’s profitability has increased over the past year; stresses that bank profitability is driven by many factors that have to be weighed and considered such as bank- specific factors but also market structure factors and macro-financial factors, which differ as indicated from bank to bank and from national and regional markets to others as well;
Amendment 181 #
Motion for a resolution Paragraph 10 10. Notes that the banking sector’s profitability has increased over the past year; deplores that part of these profits come from the risk-free profits accumulated by banks by taking advantage of the increased deposit rate;
Amendment 182 #
Motion for a resolution Paragraph 10 10. Notes that the banking sector’s profitability has increased over the past year; highlights the importance of using these profits to build buffers and safeguard the stability of the financial system;
Amendment 183 #
Motion for a resolution Paragraph 10 a (new) 10 a. Notes that in the case of small banks there has been, although necessary, increasing regulatory pressures to combat money laundering and negative interest rates, which had eroded their profit margins, and stricter credit risk policy, which has reduced their risk appetite; with the implementation of additional legislations, not least cybersecurity requirements, warns about the impact on the costs and fees applied to customers; in this regard, and given the upcoming retail investors’ strategy, calls for the inclusion and awareness about such concerns on financial services customer fees in future legislations;
Amendment 184 #
Motion for a resolution Paragraph 10 a (new) 10 a. Stresses that banks under the ECB's supervision significantly reduced the payment of dividends following the ECB’s recommendation for suspension and limitation of said payments for 2020 and 2021, respectively; calls on the ECB to issue a similar recommendation taking into account the need for the financial sector to build up buffers and to prevent a deterioration of banks’ balance sheets;
Amendment 185 #
Motion for a resolution Paragraph 10 a (new) 10 a. Stresses that, on average, the top- five banks in EU Member States hold 68% of all banking assets in the market, exceeding 80% in some cases, and that the EU’s 37 largest banks account for 71,4% of domestic banking total assets; stresses this systemic tendency to create ’too big to fail’ banks promotes financial risks, as already proven in the global financial crisis, and has never been truly tackled;
Amendment 186 #
Motion for a resolution Paragraph 10 b (new) 10 b. Believes that a well-diversified banking sector, including small and local banks, as well as public ones, offers the best solution for companies and households;
Amendment 187 #
Motion for a resolution Paragraph 10 c (new) 10 c. Is concerned that the SSM supervisory practice results in differentiated capital requirements for banks, having higher ones in peripheral Member States; stresses that Basel III regulation and CRD/CRR IV specify zero risk weightings for sovereign debt;
Amendment 188 #
Motion for a resolution Paragraph 10 d (new) Amendment 189 #
Motion for a resolution Paragraph 11 Amendment 19 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM)
Amendment 190 #
Motion for a resolution Paragraph 11 Amendment 191 #
11.
Amendment 192 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high
Amendment 193 #
Motion for a resolution Paragraph 11 11.
Amendment 194 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to
Amendment 195 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks; calls on the European Commission to present a legislative proposal introducing appropriate risk weights for sovereign exposures;
Amendment 196 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks, and that one thing in particular required to achieve this is a stronger risk-pricing of sovereign bonds into banking regulation;
Amendment 197 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high, although the picture looks very different from one Member State to another; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks;
Amendment 198 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high, partly given the lack of a common safe asset; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks;
Amendment 199 #
Motion for a resolution Paragraph 11 11. Notes that banks’ exposures to domestic sovereign debt remain high and draws attention to the associated risks; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks;
Amendment 2 #
Motion for a resolution Citation 8 a (new) — having regard to the Council press release of 7 December 2022 entitled ‘Anti- money laundering: Council agrees its position on a strengthened rulebook’ ,
Amendment 20 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism; whereas although the Deposit Guarantee Schemes Directive4 sets out high minimum standards in the area of deposit protection,
Amendment 200 #
Motion for a resolution Paragraph 11 a (new) 11 a. S Shares EBA's concern expressed in the ‘Risk Assessment of the European Banking System’ of December 2022 that sovereign exposures are material for EU banks and could become a source of potential vulnerability1a; _________________ 1a EBA. Risk Assessment of the European Banking System. December 2022. p.30
Amendment 201 #
Motion for a resolution Paragraph 11 b (new) 11 b. Points out that rising public debt levels following the pandemic make an appropriate treatment of sovereign exposures more pressing;
Amendment 202 #
Motion for a resolution Paragraph 12 Amendment 203 #
Motion for a resolution Paragraph 12 Amendment 204 #
Motion for a resolution Paragraph 12 12. Highlights that banks have a
Amendment 205 #
Motion for a resolution Paragraph 12 12. Highlights that banks have a crucial role to play in
Amendment 206 #
12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy;
Amendment 207 #
Motion for a resolution Paragraph 12 12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy
Amendment 208 #
Motion for a resolution Paragraph 12 12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy; calls for
Amendment 209 #
12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy; calls for environmental, social and governance (ESG) risks to be included in the prudential framework; notes that financial institutions feed a vicious circle, enabling climate change by financing fossil fuel related activities despite the recognition that climate change poses a major threat to financial stability; calls therefore on co-legislators to seize the opportunity of the current review of CRR and CRD to fully reflect the higher risks posed by fossil fuel exposures and other stranded assets in the banking prudential framework, including by ensuring that for each euro that a bank invests in new fossil fuel projects, it should have one euro of its own funds to cover potential losses;
Amendment 21 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism; whereas although the Deposit Guarantee Schemes Directive4 sets out high minimum standards in the area of deposit protection, the BU remains unfinished because the third pillar that would guarantee economic and monetary union – the European deposit insurance scheme (EDIS) – has not yet been established; _________________ 4 Directive 2014/49/EU of the European
Amendment 210 #
Motion for a resolution Paragraph 12 a (new) 12 a. Highlights that an overambitious sustainable finance agenda that neglects risk management aspects could lead to the build-up of a green asset bubble thus raising financial stability concerns;
Amendment 211 #
Motion for a resolution Paragraph 13 Amendment 212 #
Motion for a resolution Paragraph 13 Amendment 213 #
Motion for a resolution Paragraph 13 Amendment 214 #
Motion for a resolution Paragraph 13 Amendment 215 #
Motion for a resolution Paragraph 13 13. Recalls that as part of its ‘strategy for financing the transition to a sustainable economy’, the Commission pledged to ‘take action to ensure the inclusion of relevant ESG factors in credit ratings’ and looks forward to the upcoming legislative proposal in this area;
Amendment 216 #
Motion for a resolution Paragraph 13 13. Recalls that as part of its ‘strategy for financing the transition to a sustainable economy’, the Commission pledged to ‘take action to ensure the inclusion of relevant ESG factors in credit ratings’; urges the Commission to submit to the European Parliament and the Council a legislative proposal on ESG ratings as soon as possible in order to reach an inter-institutional agreement as part of this legislature;
Amendment 217 #
Motion for a resolution Paragraph 14 14. Stresses the link between AML and prudential risks; urges prudential supervisors to fully take into account AML risks in their supervisory activities and to coordinate with AML authorities and authorities countering the financing of terrorism; calls for the co-legislators to swiftly agree on the AML package, including the creation of a new AML authority, which must be resourced properly; stresses that banks act as gatekeepers in the fight against money laundering and therefore must have in place robust risk management frameworks and be supervised effectively;
Amendment 218 #
14. Stresses the link between AML and prudential risks; urges prudential supervisors to fully take into account AML risks in their supervisory activities and to coordinate with AML authorities and authorities countering the financing of terrorism; calls for the co-legislators to swiftly agree on the AML package, including the creation of a new AML authority, to be located where AML, anticorruption national laws and best practices are well-established;
Amendment 219 #
Motion for a resolution Paragraph 14 14. Stresses the link between AML and prudential risks;
Amendment 22 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism; whereas the establishment and implementation of those two instruments has helped to deepen the Banking Union and contributed to the recovery of the banking sector, in the aftermath of the financial crisis; whereas although the Deposit Guarantee Schemes Directive4 sets out high minimum standards in the area of deposit protection, the BU remains unfinished because the third pillar – the European deposit insurance scheme
Amendment 220 #
Motion for a resolution Paragraph 14 a (new) 14 a. Notes that the ongoing and future AML rules, to be implemented effectively, necessitate significant human resources adjustments; stresses in this respect that due diligence processes, records and documentation as well as enhanced monitoring of customer relationships require extensive targeted training for bank employees and the recruitment of additional already trained staff, putting significant pressure on the operations of small and middle sized banks with limited resources; highlights the need to integrate 'traditional' SME banks, and their equivalent, within the AML system in ways that make them active players without endangering further their sustainability;
Amendment 221 #
Motion for a resolution Paragraph 14 a (new) 14 a. Calls on the Commission to ensure that all existing AML rules are applied; takes note of the opening of infringement procedures against Member States that do not correctly apply AMLD V; stresses the need for better coordination of law enforcement across Europe and calls for the establishment of a European Criminal Office as the next step in the fight against organised crime and money laundering;
Amendment 222 #
Motion for a resolution Paragraph 14 a (new) 14 a. Reiterates that bank-like systemic risks can occur where credit intermediation takes place in an environment where regulatory standards and supervisory oversight are looser than for regular banks;
Amendment 223 #
Motion for a resolution Paragraph 14 a (new) 14 a. Calls for the full ratification of the Amending Agreement to the ESM Treaty by all Member States including the establishment of a common backstop to the Single Resolution Fund;
Amendment 224 #
Motion for a resolution Paragraph 15 Amendment 225 #
Motion for a resolution Paragraph 15 15.
Amendment 226 #
Motion for a resolution Paragraph 15 15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’; calls on the Commission to assess the need to better regulate the shadow-banking sector and to put forward, where appropriate, legislative proposals;
Amendment 227 #
Motion for a resolution Paragraph 15 15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; calls on supervisory authorities to carefully monitor financial risks related to shadow banking, and to take action where necessary; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’;
Amendment 228 #
Motion for a resolution Paragraph 15 15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector and calls for a better supervisory framework to mitigate it; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’;
Amendment 229 #
Motion for a resolution Paragraph 15 a (new) 15 a. Recalls that climate change can bring financial instability and poses a systemic risk ; calls therefore to impose stricter prudential rules on systemic banks to ensure that they have the necessary capital to deal with a collapse in the value of their assets; proposes, therefore, that the risk weight for banks’ exposures to existing fossil fuel reserves be calibrated at 150 % and that the risk weight for banks’ exposures to new fossil fuel reserves be set at 1 250 %, so that they are financed solely from own funds;
Amendment 23 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism, with the single rulebook as its foundation, ensures full alignment between supervision and management of banking crisis and is an integral part of the Union's financial stability; whereas although the Deposit Guarantee Schemes Directive4 sets out high minimum standards in the area of deposit protection, the BU remains unfinished because the third pillar – the European deposit insurance scheme (EDIS) – has not yet been established; _________________ 4 Directive 2014/49/EU of the European
Amendment 230 #
Motion for a resolution Paragraph 15 a (new) 15 a. Highlights the need for continued supervisory convergence between national competent authorities in order to ensure a level playing field between EU jurisdictions and within the internal market, which will ultimately help support financial stability at a European and national level;
Amendment 231 #
Motion for a resolution Paragraph 15 a (new) 15 a. Calls on supervisors to carefully monitor the professionalism and generational turnover aspects of governance, especially with regard to smaller banks;
Amendment 232 #
Motion for a resolution Paragraph 16 16.
Amendment 233 #
Motion for a resolution Paragraph 16 16. Notes that crypto-assets create new challenges
Amendment 234 #
Motion for a resolution Paragraph 16 16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regard; calls on the Commission to do further work on the areas not addressed by the MiCA Regulation, such as decentralised finance, crypto lending activities, crypto conglomerates and non fungible tokens, and present new legislative proposals as soon as possible; calls on co-legislators to implement the prudential treatment of banks’ exposures to crypto-assets adopted by the BCBS on 16 December 2022 as part of the current review of the CRR;
Amendment 235 #
Motion for a resolution Paragraph 16 16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regard; recalls the concerns expressed by Fabio Panetta in January 2023 regarding the consequences of the unregulated crypto- asset business; welcomes Mrs Lagarde's call in the ECON Committee in June 2022 for broader crypto regulation via a new legislative proposal known as MiCA II; calls, therefore, on the Commission to assess the urgent need to better regulate crypto assets and DeFi, and to put foward a legislate proposal where appropriate;
Amendment 236 #
Motion for a resolution Paragraph 16 16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets
Amendment 237 #
Motion for a resolution Paragraph 16 16. Notes that crypto-assets
Amendment 238 #
Motion for a resolution Paragraph 16 16. Notes that unregulated crypto- assets create new challenges for banks and to the stability of the financial system as a whole; welcomes the forthcoming adoption of the regulation on markets in Crypto- assets in this regard;
Amendment 239 #
16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regard; welcomes the recently published Basel prudential standard for banks' exposures to crypto assets, calls for the rapid implementation at EU level of this standard;
Amendment 24 #
Motion for a resolution Recital A A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM); whereas although the Deposit Guarantee Schemes Directive4 (DGSD) sets out
Amendment 240 #
Motion for a resolution Paragraph 16 a (new) 16 a. Reemphasises that measures improving risk reduction are required for a more secure, robust, and economically viable Banking Union; highlights the need to complete the package of measures to address the risks related to non- performing loans, which the Commission launched in 2018, and in particular the out-of-court enforcement proposal, involving accelerated extrajudicial collateral enforcement strictly limited to loans granted to corporates and only applying if prior agreement between the secured creditor and business borrower is achieved when concluding the loan contract, with consumer loans excluded;
Amendment 241 #
Motion for a resolution Paragraph 16 a (new) 16 a. Insists on the advantages deriving from the incentive for a well-supervised local banking systems on the territories of the European Union, with the aim of promoting the credit system through knowledge of the productive fabrics and supporting the needs of SMEs networks;
Amendment 242 #
Motion for a resolution Paragraph 16 a (new) 16 a. Points out the necessity to ensure conformity between horizontal measures and financial market regulation particularly with regard to cyber security and digital policies to avoid duplication and bureaucratic burden;
Amendment 243 #
Motion for a resolution Paragraph 16 a (new) 16 a. Stresses that financial institutions that benefit from any form of public support, including capital relief measures, have to halt dividend distribution, share buybacks and variable remuneration payments;
Amendment 244 #
Motion for a resolution Paragraph 16 a (new) 16 a. Notes the issues and challenges associated with the home-host issue; points out that greater market integration requires credible safeguards for host countries reflected in EU law;
Amendment 245 #
Motion for a resolution Paragraph 16 b (new) 16 b. Regrets that the current framework blocks public bailouts in favour of a bail-in strategy, ending up promoting resolution or liquidation measures; moreover, regrets an excessive liquidation approach to banks in difficulties, even when still potentially viable and solvent, and stresses that the resolutions often entail significant restructuring of liabilities and partly liquidation of banks;
Amendment 246 #
16 c. Stresses that these measures contribute to bank runs, do not contribute to financial stability and often indirectly pressure government budgets;
Amendment 247 #
Motion for a resolution Paragraph 17 17. Welcomes the activities of the SRB in 2022, including its management of the Sberbank collapse in the aftermath of the Russian war in Ukraine; welcomes that overall banks under the SRB’s remit have delivered good progress towards resolvability and in building up loss- absorbing capacity;
Amendment 248 #
Motion for a resolution Paragraph 18 18.
Amendment 249 #
Motion for a resolution Paragraph 18 18. Welcomes the publication of the resolvability heat map; calls on the SRB to further improve the transparency of its decisions, for instance through the publication of bank by bank analysis on resolvability;
Amendment 25 #
Motion for a resolution Recital A a (new) A a. whereas despite best efforts, agreement on a European Deposit Insurance Scheme (EDIS) has not yet been achieved; whereas MEPs have called for an ambitious review of the Crisis Management and Deposit Insurance (CMDI) framework which may help to overcome hurdles to the establishment of EDIS while recognising that this framework should not be considered as a replacement for a EDIS, and that the 2015 EDIS proposal should not be withdrawn and should be combined with appropriate risk reduction measures;
Amendment 250 #
Motion for a resolution Paragraph 18 a (new) 18 a. Is concerned by the lack of a mechanism in the Banking Union to ensure that liquidity can be provided to a bank in the event of a resolution in order to ensure the smooth continuity of services and the stability of financial markets, and calls on the Commission to address this gap without further delay;
Amendment 251 #
Motion for a resolution Paragraph 18 a (new) 18 a. Calls on the SRB to regularly carry out objective analysis of the lessons learnt and the experiences with earlier banking resolutions.
Amendment 252 #
Motion for a resolution Paragraph 19 19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund should be fully filled up and that
Amendment 253 #
Motion for a resolution Paragraph 19 19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund should be fully filled up and that all banks should be fully resolvable by the end of 2023, including thanks to binding MREL targets; notes that
Amendment 254 #
Motion for a resolution Paragraph 19 19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund (SRF) should be fully filled up and that all banks should be fully resolvable by the end of 2023; highlights the SRF’s crucial role in preventing bank bailouts by tax payers; notes that further progress is needed by all banks;
Amendment 255 #
Motion for a resolution Paragraph 19 a (new) 19 a. Welcomes the Eurogroup agreement to introduce a backstop to the SRF, in the form of a revolving credit line from the European Stability Mechanism (ESM); regrets that its implementation was not reached in 2022, as envisioned by said agreement; recalls of its importance in strengthening the crisis management framework and as an important step towards completing the Banking Union; urges, therefore, the swift implementation of the SRF backstop;
Amendment 256 #
Motion for a resolution Paragraph 19 b (new) 19 b. Regrets that Member States continue to act outside the Community framework, undermining Parliament’s role as co-legislator; asks to be kept informed at all times of the ongoing discussions at the level of the Eurogroup and of the High-level Working Group on the EDIS;
Amendment 257 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised;
Amendment 258 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the
Amendment 259 #
Motion for a resolution Paragraph 20 Amendment 26 #
Motion for a resolution Recital A a (new) Aa. whereas the establishment of a European Deposit Guarantee Scheme (EDIS) remains a priority as the two existing pillars are insufficient to ensure a strong Banking Union;
Amendment 260 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised; calls for options to be considered for greater harmonisation of the treatment of small and medium-size banks; stresses that the resolution framework and State aid rules should be consistent; notes also the importance of maintaining and ensuring a consistent and effective resolution framework for banks, calls for, in particular, a level playing field between different banking group structures and their preferred resolution strategy, which ensures that the level and amount of loss absorbing capacity is equal;
Amendment 261 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised, so that the choice of the resolution strategy to be followed in case a bank faces difficulties follows a more consistent and predictable manner; calls for greater harmonisation of the treatment of small and medium-size banks; stresses that the resolution framework and State aid rules should be consistent; notes that currently the setting of the minimum requirement for own funds and eligible liabilities (MREL) level is decided by the SRB on a case-by-case basis;
Amendment 262 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised; calls for greater harmonisation of the treatment of small and medium-size banks
Amendment 263 #
Motion for a resolution Paragraph 20 20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised; calls for greater harmonisation of the treatment of small and medium-size banks while taking due account of the specificities in national banking sectors; stresses that the resolution framework and State aid rules should be consistent;
Amendment 264 #
Motion for a resolution Paragraph 20 a (new) 20 a. Notes that a failing bank is only sent into resolution, when it cannot go through normal insolvency proceedings without harming public interest or causing financial instability; points out that therefore for most small banks, insolvency will be the default procedure; calls on the Commission to take this aspect into consideration when designing its CMDI proposal;
Amendment 265 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious
Amendment 266 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the
Amendment 267 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance (CMDI) framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework; stresses that a credible and well-functioning resolution regime is of paramount importance to ensure financial stability in an uncertain macroeconomic context; considers that the CMDI Review is a necessary but insufficient step to complete the Banking Union, and that this review should pave the way toward the establishment of EDIS;
Amendment 268 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; points out that this review must take account of the specificities of national banking sectors, with a view to, inter alia, maintaining a functioning framework for the institutional protection schemes for the implementation of preventive measures; recalls that protecting taxpayer money is one of the main objectives of the resolution framework;
Amendment 269 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework; considers it is necessary to have an EU liquidation regime based on an enhanced role of preventive and alternative interventions of deposit guarantee schemes for banks for which the SRB considers that there is no public interest in resolution
Amendment 27 #
Motion for a resolution Recital A a (new) A a. whereas the main objective of the Banking Union is to secure the stability of the banking sector in Europe and to prevent the need to save banks at risk of bankruptcy with public money;
Amendment 270 #
Motion for a resolution Paragraph 21 21.
Amendment 271 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework and that losses should primarily be borne by shareholders and creditors;
Amendment 272 #
Motion for a resolution Paragraph 21 a (new) 21 a. Regrets that despite the political agreement in November 2020 on an early introduction, the backstop to the Single Resolution Fund (SRF) has not entered into application yet due to the delays in the ratification process of the ESM Treaty; stresses the importance of the SRF for ensuring a robust and credible crisis management framework;
Amendment 273 #
Motion for a resolution Paragraph 21 b (new) 21 b. Recalls that banks need to continue to meet their obligations and perform their key functions after the implementation of a resolution decision; is concerned that banks might face liquidity stress in resolution immediately after regaining market access; calls on EU institutions to find an agreement on establishing a credible and sufficiently sizeable liquidity provision mechanism of last resort to provide confidence and enhance predictability;
Amendment 274 #
Motion for a resolution Paragraph 22 22. Takes note of the appointment of a new SRB Chair and of a new Board member
Amendment 275 #
Motion for a resolution Paragraph 22 22.
Amendment 276 #
Motion for a resolution Paragraph 22 a (new) 22 a. Encourages the SRB to move towards a further operationalisation of transfer strategies in resolution, building on existing best practices, for instance in the US or in Member States outside the BU;
Amendment 277 #
Motion for a resolution Paragraph 23 23.
Amendment 278 #
Motion for a resolution Paragraph 23 23. Re
Amendment 279 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete
Amendment 28 #
Motion for a resolution Recital A a (new) A a. whereas an agreement was reached on the creation of a backstop for the Single Resolution Fund (SRF), but its actual implementation is still missing;
Amendment 280 #
Motion for a resolution Paragraph 23 23. Re
Amendment 281 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete
Amendment 282 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU; recalls that the EDIS
Amendment 283 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and
Amendment 284 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU, wherever their bank is located; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and could therefore contribute to addressing home/host issues;
Amendment 285 #
Motion for a resolution Paragraph 23 23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and could therefore contribute to addressing home/host issues; points out that the European Parliament has a clear mandate to negotiate the EDIS and is ready to resume work to conclude it as soon as possible;
Amendment 286 #
Motion for a resolution Paragraph 23 a (new) 23 a. Notes the Eurogroup statement on the future of the Banking Union of 16 June 2022 and supports calls by MEPs negotiating the EDIS proposal in the statement on 8 December 2022 for an ambitious review of the Crisis Management and Deposit Insurance (CMDI) framework which may help to overcome hurdles to the establishment of EDIS while recognising that this framework should not be considered as a replacement for an EDIS and that the 2015 EDIS proposal should not be withdrawn; reiterates Parliament's commitment to working towards an agreement on an EDIS, which should be combined with appropriate risk reduction measures;
Amendment 287 #
Motion for a resolution Paragraph 23 a (new) 23 a. Stresses that establishing EDIS should be done with no measures to limit bank exposures to sovereigns, such as the introductions of penalties for the lack of diversification or a risk weighting model for different sovereign loans;
Amendment 288 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector;
Amendment 289 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector
Amendment 29 #
Motion for a resolution Recital A a (new) A a. whereas a political agreement was reached in 2020, a backstop to the single resolution fund (SRF) is still missing;
Amendment 290 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made
Amendment 291 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector;
Amendment 292 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector; calls for a
Amendment 293 #
Motion for a resolution Paragraph 24 24.
Amendment 294 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector; calls for a risk sharing mechanism through an EDIS, provided that an asset quality review be conducted beforehand and in parallel with further progress on integration both in terms of LSIs supervision and of capital and liquidity waivers, while continuing the risk reduction trend;
Amendment 295 #
Motion for a resolution Paragraph 24 24. Acknowledges the progress made regarding the reduction of risks in the banking sector; emphasises the importance of continued risk reduction measures for the success of the Banking Union; calls for a risk sharing mechanism, while continuing the risk reduction trend;
Amendment 296 #
Motion for a resolution Paragraph 24 a (new) 24 a. Stresses the importance of the risk proportionality of contributions to DGSs; warns that the absence of a risk-based approach may create risks of moral hazard and free-riding, leading to the subsidisation of speculative business models by conservative ones; emphasises that contributions to a future EDIS must also be proportional to risk;
Amendment 297 #
Motion for a resolution Paragraph 24 a (new) Amendment 298 #
Motion for a resolution Paragraph 24 a (new) 24 a. Recognises the risk-mitigating effect of institutional protection schemes and highlights that this should be preserved under any EDIS;
Amendment 299 #
Motion for a resolution Paragraph 24 b (new) 24 b. Recognises risk reduction as a precondition for the establishment of risk- sharing mechanisms such as EDIS;
Amendment 3 #
Motion for a resolution Citation 8 a (new) — having regard to the Commission communication of 16 December 2020 on tackling non-performing loans in the aftermath of the COVID-19 pandemic (COM(2020)0822),
Amendment 30 #
Motion for a resolution Recital A b (new) Amendment 300 #
Motion for a resolution Paragraph 25 25. Points out that any EDIS should
Amendment 301 #
Motion for a resolution Paragraph 25 25. Points out that any EDIS should take into account clear rules for the participation of non-euro-area Member States; encourages the Eurogroup to work in inclusive format to finalise on a consensual basis a time-bound and action driven work plan on the way towards its completion;
Amendment 302 #
Motion for a resolution Paragraph 25 25. Points out that any E
Amendment 303 #
Motion for a resolution Paragraph 25 a (new) 25 a. Acknowledges the different concepts for a European deposit insurance framework; considers, nonetheless, that any short-term solution should not prevent the establishment of a fully mutualised EDIS as soon as possible;
Amendment 304 #
Motion for a resolution Paragraph 26 26. Welcomes the statement by the negotiation team announcing the reopening of discussions on the EDIS at Parliament;
Amendment 305 #
Motion for a resolution Paragraph 26 26. Welcomes the statement by the negotiation team announcing the reopening
Amendment 306 #
Motion for a resolution Paragraph 26 26. Welcomes the statement by the negotiation team announcing the reopening of discussions on the EDIS at Parliament; calls for the co-legislators to
Amendment 307 #
Motion for a resolution Paragraph 26 26.
Amendment 308 #
Motion for a resolution Paragraph 26 26. Welcomes the statement by the negotiation team of the Parliament announcing the reopening of discussions on the EDIS a
Amendment 309 #
Motion for a resolution Paragraph 26 26. Welcomes the statement by the negotiation team announcing the reopening of discussions on the EDIS at Parliament; calls for the co-legislators to reach an agreement on the file before the end of the legislative period; recalls that the ultimate goal remains to have a fully-fledged EDIS that provides loss-coverage;
Amendment 31 #
Motion for a resolution Recital B B. whereas the BU is open to all EU Member States and is intended to be participated in by all, in line with the objective of extending the single currency to all Member States as laid down in the Treaties, in particular Article 3 of the Treaty on European Union;
Amendment 310 #
Motion for a resolution Paragraph 26 a (new) 26 a. Supports the joint declaration signed by the Chair of the Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the European Deposit Insurance Scheme; reiterates its call for the Commission not to retract its 2015 EDIS proposal, which should remain on the table as the basis for restarting discussions; reiterates its call urging the Council to end the stalemate that has blocked progress for years and to work constructively with the Parliament to reach an agreement on EDIS;
Amendment 32 #
Motion for a resolution Recital B a (new) B a. whereas a stable, resilient, dynamic, and competitive banking sector is vital for economic growth, for supporting small and medium sized businesses, for increasing the possibility of home-ownership, for innovation, for investment, and for the widening of economic opportunities for all;
Amendment 33 #
Motion for a resolution Recital C C. whereas the Russian aggression against Ukraine
Amendment 34 #
Motion for a resolution Recital C C. whereas the Russian aggression against Ukraine and its economic and social consequences
Amendment 35 #
Motion for a resolution Recital C C. whereas the illegal, illegitimate, unjustified and immoral Russian aggression against Ukraine and its economic and social consequences will have a significant direct and indirect impact on the EU banking sector
Amendment 36 #
Motion for a resolution Recital C C. whereas the Russian aggression against Ukraine and its economic and social consequences will have a direct and indirect impact on the EU banking sector; whereas EU banks play a pivotal role in ensuring the ongoing implementation of and compliance with the sanctions imposed by the EU against Russia in response to the invasion;
Amendment 37 #
Motion for a resolution Recital D D. whereas the banking sector has
Amendment 38 #
Motion for a resolution Recital D D. whereas the banking sector has been resilient to the crisis triggered by the COVID-19 pandemic with the help of extraordinary public policy relief measures and a resilient EU regulatory framework, and without having endured a corresponding financial crisis; whereas, as the EU banking sector continues to emerge from the pandemic, the Union must continue to uphold high standards, particularly when it comes to capital requirements and risk management practices, to ensure the resilience of the sector into the future;
Amendment 39 #
Motion for a resolution Recital D a (new) D a. whereas, despite the challenges caused by the pandemic and the war in Ukraine, the aggregate non-performing loans (NPL) ratio fell further to 2.29% in the third quarter of 2022; whereas this was supported by credit moratoria and renegotiation of credit with customers;
Amendment 4 #
Motion for a resolution Citation 8 a (new) — having regard to the first EBA thematic review on the transparency and level of fees and charges for retail banking products in the EU, published on 14 December 2022,
Amendment 40 #
D a. whereas the banking sector faces further risks following the pandemic, particularly in relation to asset quality deterioration and potential increases in NPL ratios after the temporary support measures introduced during the COVID- 19 crisis are phased out;
Amendment 41 #
Motion for a resolution Recital D a (new) D a. whereas the ‘too big to fail’ issue remains insufficiently addressed, despite the commitment made in the aftermath of the great financial crisis;
Amendment 42 #
Motion for a resolution Recital D b (new) D b. whereas fifteen years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 43 #
Motion for a resolution Recital E E. whereas the non-bank financial intermediary sector continues to grow, creating further risks on financial stability; whereas banks’ exposures to non- bank financial intermediaries remain high, which exacerbates their financial interconnectedness;
Amendment 44 #
Motion for a resolution Recital F Amendment 45 #
Motion for a resolution Recital F F. whereas the role of the banking sector is crucial to
Amendment 46 #
Motion for a resolution Recital F F. whereas the role of the banking sector is crucial to the economic recovery after the COVID crisis and the energy crisis and the transition to a sustainable economy;
Amendment 47 #
Motion for a resolution Recital F F. whereas the role of the banking sector is crucial to the recovery from recent crises, especially to SMEs, and to the transition to a sustainable economy;
Amendment 48 #
Motion for a resolution Recital F F. whereas the role of the banking sector is crucial to the transition to a sustainable economy
Amendment 49 #
Motion for a resolution Recital F F. whereas the role of the banking sector is crucial to the transition to a sustainable economy; whereas on 2 November 2022, the ECB published the review of climate-related and environmental (C&E) risk management in the banking sector, concluding that 85% of banks now have practices in place in most areas, though they are still lacking more sophisticated methodologies and granular information on climate and environmental risks;4a _________________ 4a https://www.bankingsupervision.europa.e u/press/pr/date/2022/html/ssm.pr221102~ 2f7070c567.en.html#:~:text=In%20a%20s econd%20step%2C%20and,to%20engage %20with%20their%20clients.
Amendment 5 #
Motion for a resolution Citation 8 b (new) — having regard to The Five Presidents’ Report of 22 June 2015 entitled ‘Completing Europe’s Economic and Monetary Union’,
Amendment 50 #
Motion for a resolution Recital F a (new) F a. whereas the main purpose in the designing of banking sector economic policies should be to minimise: (1) the likelihood of bank failures, (2) the economic impact of failing banks and (3) the risk of systemic banking crises;
Amendment 51 #
Motion for a resolution Recital F a (new) Fa. whereas sustainability is important for the financial sector, as banks are exposed to both credit and reputational risk;
Amendment 52 #
Motion for a resolution Recital G G. whereas the digitalisation of finance provides extensive opportunities for the banking sector,
Amendment 53 #
Motion for a resolution Recital G G. whereas the digitalisation of finance provides extensive opportunities for the banking sector
Amendment 54 #
Motion for a resolution Recital G G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber risks, and considering the lack of adequate financial education in view of the increase in online users;
Amendment 55 #
Motion for a resolution Recital G G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber risks and social exclusion;
Amendment 56 #
Motion for a resolution Recital G G. whereas the digitalisation of finance provides extensive opportunities for the banking sector, but also poses challenges, including with regard to cyber risks; whereas the Digital Operational Resilience Act, that will enter into force in 2025, will provide a robust and sector- specific framework for banks to prepare and deal with cyber threats;
Amendment 57 #
Motion for a resolution Recital H H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules and ensure a
Amendment 58 #
Motion for a resolution Recital H H. whereas the finalisation of the
Amendment 59 #
Motion for a resolution Recital H H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules, establish a European supervisory authority for AML purposes and ensure a consistent and effective implementation of these rules;
Amendment 6 #
Motion for a resolution Citation 8 b (new) — having regard to the outcome of the EBA 2022 transparency exercise, published on 9 December 2022,
Amendment 60 #
Motion for a resolution Recital H a (new) Amendment 61 #
Motion for a resolution Recital H a (new) H a. whereas work is continuing on the EU Banking Package, which will ensure an appropriate framework for bank capital adequacy, stress testing, and liquidity requirements;
Amendment 62 #
Motion for a resolution Recital H b (new) H b. whereas financial institutions rely increasingly on the use of information and communications technology (ICT) which heightens the risk of cyber-attacks; whereas the EU banking sector must increase its cyber resilience to ensure that ICT systems can withstand various types of cyber security threats;
Amendment 63 #
Motion for a resolution Recital I Amendment 64 #
Motion for a resolution Recital I I. whereas
Amendment 65 #
Motion for a resolution Recital I I. whereas ensuring a high-level
Amendment 66 #
Motion for a resolution Recital I I. whereas ensuring high-level
Amendment 67 #
Motion for a resolution Recital I I. whereas ensuring high-level and equal protection of all investors and depositors is at the core of the B
Amendment 68 #
Motion for a resolution Recital I a (new) Amendment 69 #
Motion for a resolution Recital I b (new) I b. whereas the European banking sector largely remains the main provider of financing of companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 7 #
Motion for a resolution Citation 12 a (new) — having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 70 #
Motion for a resolution Recital I c (new) I c. whereas the development of a CMU requires the establishment of common rules and effective tools that reduce the internal market fragmentation, facilitate access to alternative financing means, and prevent capital flight and tax avoidance schemes;
Amendment 71 #
Motion for a resolution Recital J Amendment 72 #
Motion for a resolution Recital J Amendment 73 #
Motion for a resolution Recital J J. whereas
Amendment 74 #
Motion for a resolution Recital J J. whereas completing the BU
Amendment 75 #
Motion for a resolution Recital J J. whereas
Amendment 76 #
Motion for a resolution Recital J J. whereas not only completing the BU
Amendment 77 #
J. whereas completing the BU will
Amendment 78 #
Motion for a resolution Recital J J. whereas completing the BU will break the sovereign-bank doom loop, provide more protection to European deposits, and enhance businesses, investors and citizens’ trust in the European financial system;
Amendment 79 #
Motion for a resolution Recital J J. whereas completing the BU will break the sovereign-bank doom loop; whereas the Banking Union should help to address this bank-sovereign nexus, which continues to exist; whereas the level of sovereign exposure has been growing in a number of banks; whereas the prudential treatment of sovereign debt must include capital requirements and be consistent with international standards;
Amendment 8 #
Motion for a resolution Citation 12 a (new) — having regard to the ECB's report on its supervisory priorities for 2023-25 on 12 December 2022,2a _________________ 2a https://www.bankingsupervision.europa.e u/banking/priorities/html/ssm.supervisory _priorities202212~3a1e609cf8.en.html
Amendment 80 #
Motion for a resolution Recital J a (new) Ja. whereas the EU banking sector is key to supporting economic recovery, promoting private investment and initiative, ensuring that people have access to credit, and providing liquidity and fluidity in the financial sector, and to an economic environment that fosters employment, innovation and competitiveness;
Amendment 81 #
Motion for a resolution Recital J a (new) Ja. whereas the banking sector plays a crucial role in supporting Europe's economic recovery and growth, particularly through the channelling of key financing to foster investment and thus create business opportunities and jobs;
Amendment 82 #
Motion for a resolution Recital J a (new) J a. whereas crisis management remains fragmented across the EU and the BU, resulting in an unlevel playing field between banks and jurisdictions;
Amendment 83 #
Motion for a resolution Recital J a (new) J a. whereas the Transmission Protection Instrument (TPI) established by the ECB can mitigate risks of fragmentation and financial instability;
Amendment 84 #
Motion for a resolution Recital J a (new) J a. whereas one of the key objectives of the Banking Union is that taxpayers should not bear the cost of remedial action when a bank fails;
Amendment 85 #
Motion for a resolution Recital J b (new) Jb. whereas the successful completion of the Banking Union depends on other EU projects and major ambitions, such as the Capital Markets Union; whereas both projects are interconnected, and developing one should lead to progress and advances with the other; whereas both the Banking Union and the Capital Market Union are indispensable for the economic strengthening of the Union;
Amendment 86 #
Motion for a resolution Recital J b (new) J b. whereas a more stable, competitive and convergent Economic and Monetary Union requires the completion of the Banking Union with its third pillar of a fully-fledged European Deposit Insurance Scheme, a deep and fully functional Capital Markets Union, a permanent euro area budgetary instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 87 #
Motion for a resolution Recital J b (new) J b. whereas the crisis management and deposit insurance (CMDI) framework should ensure a consistent and efficient approach for all banks, regardless of size or business model, as well as contributing to preserving financial stability, minimising the use of taxpayers’ money and ensuring a level playing field across the EU, while duly taking into account the principle of subsidiarity;
Amendment 88 #
Motion for a resolution Recital J c (new) J c. whereas the EU and the UK are currently committed to maintaining regulatory and supervisory cooperation in the field of financial services, and this cooperative approach should underpin long-term EU-UK relations; whereas the Commission will extend its temporary permit allowing EU banks and fund managers to use UK clearing houses; whereas a promised EU-UK Memorandum of Understanding on regulatory co-operation has not yet been signed;
Amendment 89 #
Motion for a resolution Recital J c (new) J c. whereas the raising of interest rates by the ECB has been immediately reflected in the interest paid by households and companies to banks, thus significantly increasing banks’ profits, while it negatively affected households’ and companies’ capacity to pay their loans;
Amendment 9 #
Motion for a resolution Citation 12 b (new) — having regard to the feedback to the Commission's consultation on 'A digital euro for the EU' held between 5 April 2022 - 16 June 2022,3a _________________ 3a https://ec.europa.eu/info/law/better- regulation/have-your- say/initiatives/13392-A-digital-euro-for- the-EU_en
Amendment 90 #
Motion for a resolution Recital J d (new) J d. whereas given the remaining loopholes in the EU AML framework, there is a need for strengthened, harmonised and effective anti-money laundering supervision and enforcement, which is necessary to protect the integrity of the EU’s financial system and to protect against threats from high-risk third countries; whereas major differences still exist in the approaches taken to AML/combating the financing of terrorism (CFT) supervision by EU national authorities and in the application of EU AML legislation;
Amendment 91 #
1. Condemns in the strongest possible terms the Russian aggression against Ukraine and its devastating impact on
Amendment 92 #
Motion for a resolution Paragraph 1 1. Condemns in the strongest possible terms the illegal, illegitimate, unjustified and immoral Russian aggression against Ukraine and its devastating impact on the Ukrainian people; notes that the Russian
Amendment 93 #
Motion for a resolution Paragraph 1 1. Condemns in the strongest possible terms the Russian aggression against Ukraine and its devastating impact on the Ukrainian people; notes that the Russian invasion has also had social, economic and financial consequences for the EU, including exacerbating inflation trends; notes that banks’ direct exposures to Russia and Ukraine are limited, but that the banking sector may be affected by indirect impacts with a fall in net profit and revenues;
Amendment 94 #
1. Condemns in the strongest possible terms the Russian aggression against Ukraine and its devastating impact on the Ukrainian people; notes that the Russian invasion has also had social, economic and financial consequences for the EU, including exacerbating inflation trends; notes that banks’ direct exposures to Russia and Ukraine are limited, but that the banking sector may be affected by indirect impacts; points out that European banks should prepare for a potential deterioriation in asset quality; therefore highlights the importance of prudent risk management and appropriate provisioning; invites the Commission as well as national and European supervisory authorities to prepare for a potential deterioration of asset quality;
Amendment 95 #
Motion for a resolution Paragraph 1 a (new) 1 a. Stresses that the completion of the Capital Markets Union alongside the development of the Banking Union will help to deliver better conditions for the financing of the European economy, for both households and companies that are still largely reliant on bank credit to foster investments and job creation, while also contributing to the resilience of the European economy;
Amendment 96 #
Motion for a resolution Paragraph 1 b (new) 1 b. Recalls that a key goal of the BU is the security of the banking system and the prevention of bank bailouts by taxpayers; recognises that through the establishment of the SSM and the SRM, Europe's banks are now in a strong position to withstand financial shocks; notes, however, that the third pillar of Banking Union (EDIS) is still pending and therefore supports efforts to strengthen the BU along with risk reduction measures; stresses that a solid BU will result in increased confidence in the banking sector and will ensure that EU banks are stronger and better supervised;
Amendment 97 #
Motion for a resolution Paragraph 2 2. Notes that
Amendment 98 #
Motion for a resolution Paragraph 2 2. Notes that the banking sector, in conjunction with public support measures, has acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience, as well as the ability of the banking sector to improve risk management and ensure lending activities during economic downturns;
Amendment 99 #
Motion for a resolution Paragraph 2 2. Notes that the banking sector, in conjunction with public support measures, has acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; deplores that this tool has not been consistently applied by other financial institutions despite similar recommendations made by other sectoral supervisors; calls on co- legislators to introduce a legally binding suspension of dividends and buy back in times of crisis as part of the on-going review of CRR and Solvency 2;
source: 742.518
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History
(these mark the time of scraping, not the official date of the change)
2023-02-28Show (1) Changes | Timetravel
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https://www.europarl.europa.eu/doceo/document/ECON-AM-742518_EN.html
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2023-02-21Show (1) Changes | Timetravel
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2023-01-12Show (1) Changes | Timetravel
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2022-12-17Show (1) Changes | Timetravel
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https://www.europarl.europa.eu/doceo/document/ECON-PR-739749_EN.html
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2022-12-15Show (1) Changes | Timetravel
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2022-10-11Show (1) Changes | Timetravel
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2022-10-08Show (1) Changes
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