2023/2078(INI) | [ParlTrack]

Motion for a resolution
Recital A

A. whereas the Banking Union (BU)~~, which currently~~ encompasses the Single Supervisory Mechanism ~~and~~, the Single Resolution Mechanism~~, needs to be supplemented by~~ and high minimum standards in the carea~~tion of a European~~ of deposit insurance ~~scheme (EDIS)~~;

Amendment 100 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

Motion for a resolution
Paragraph 5 a (new)

5 a. Notes that the Q2 Euro Area Bank Lending Survey of 2023 showed that banks further tightened their credit standards for loans to firms and households for house purchase due to higher risk perceptions, lower risk tolerance and increased funding costs and that banks also tightened lending conditions amid higher levels of concern about non-performing loans;2a 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; _________________ 2a https://www.ecb.europa.eu/stats/ecb_surve ys/bank_lending_survey/html/index.en.ht ml

Amendment 101 #

Motion for a resolution
Paragraph 5 a (new)

5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buy back in times of crisis;

Amendment 102 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 6

Amendment 103 #

Motion for a resolution
Paragraph 6

Amendment 104 #

Motion for a resolution
Paragraph 6

Amendment 105 #

Motion for a resolution
Paragraph 6

6. ~~Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation would in~~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 EU’s 37 largest banks account for 71.4% of domestic banking total assets; stresses that this systemic tendency to creaste ~~the profitability of the EU banking sector and financial stability~~’too big to fail’ banks promotes financial risks, as already proven in the Global Financial Crisis, which have never been truly tackled;

Amendment 106 #

Motion for a resolution
Paragraph 6

6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation wcould increase the profitability of the EU banking sector and financial stability; taking into account not to foster the ‘too big to fail’ problem;

Amendment 107 #

Motion for a resolution
Paragraph 6

6. Calls for consolidation in the EU to be promoted by removing incentives for risk fencing and regulatory impediments to cross-border mergers; highlights that consolidation would increase the profitability of the EU banking sector and financial stability by allowing diversification ;

Amendment 108 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 6

6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; ~~highlights that consolidation would increase the profitability of the EU banking sector and financial stability;~~ takes note that the banking sector is still, by and large, a collection of national banking sectors according to a public statement by Andrea Enria, Chair of the Supervisory Board of the ECB; highlights that consolidation would increase the profitability of the EU banking sector and financial stability; notes however that retail banking services in certain Member States remain dominated by a small number of banks and the consequential reduction of consumer choice for retail banking customers; 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 109 #

Motion for a resolution
Paragraph 6

6. Calls for consolidation in the EU to be promoted by removing regulatory impediments to cross-border mergers; highlights that consolidation would increase the profitability of the EU banking sector and financial stability while improving the current situation of reduced services offered and increased costs for citizens in many Member States, notes at the same time that he current level playing field imbalance between EU and third country banks present in the EU would be reduced ;

Amendment 11 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital A

A. whereas the Banking Union (BU)~~, which~~ currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, ~~needs to be supplemented by the creation of a~~while the European deposit insurance scheme (EDIS) has yet to be created;

Amendment 110 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Recalls the IMF's World Financial Stability Report published in April 2023, which identifies three possible sources of risk to the financial sector: these include the interconnection of Non- Bank Financial Institutions (NBFI) with banks, the functioning of NBFI themselves, through a mismatch of liquidity, and the risk of incurring losses greater than anticipated; emphasises that the latter point accelerated the bankruptcy of Silicon Valley Bank; notes that the interconnection of NBFI with banks increases the risk of transferring difficulties from one to the other, ultimately limiting the financing capacity for the real economy, potentially causing a significant slowdown;

Amendment 111 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Highlights that the interest rates offered to households and SMEs across the Member States are highly disparate; urges the EU institutions and bodies to consider measures to improve consumer choice and competition and ease the burden on mortgage holders and SMEs in Member States with higher lending rates to ensure that all citizens and businesses can access much-needed capital at fair and competitive rates;

Amendment 112 #

Motion for a resolution
Paragraph 6 b (new)

6 b. 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 113 #

Motion for a resolution
Paragraph 6 c (new)

6 c. Recognises that the Union's goal of open strategic autonomy should not become a barrier to the benefits of a globally interconnected banking system; cautions against the potential risks of overly focusing on strategic autonomy in a way that could lead to isolationism or protectionism in the banking sector;

Amendment 114 #

Motion for a resolution
Paragraph 7

7. Highlights thate role of the banking s~~ector should be key in delivering the transition to a digitalised and carbon neutral economy and in channelling funds to renewable energies~~ystem in supporting the European economy;

Amendment 115 #

Aurore LALUCQ, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 7

7. Highlights that the banking sector should be key in delivering the transition to a digitalised and carbon neutral economy and in channelling funds to renewable energies; regrets that renewable energy sectors have been hit particularly hard with the increase of interest rates, thus harming the much needed investment in the green transition;

Amendment 116 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Reminds that banks do not sufficiently take into account the systemic risk posed by climate change; reminds that the collapse in fossil fuels asset values could cause a crisis of an even bigger magnitude than the subprime crisis; therefore supports an update of the Capital Requirements Regulation to apply a risk weight of 1250% to new fossil fuel exposures, ensuring that such investments are fully equity-funded;

Amendment 117 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 7 a (new)

7 a. Calls on banks to take their commitments to the EU Green Deal and the EU Climate law seriously and to reduce their exposure to fossil fuels; underlines the importance of the EBA reports on the crucial issues of the riskiness of institutions’ exposures to ESG assets and the potential effects of an adjusted prudential treatment of these exposures, to be published by the end of 2024 and 2025;

Amendment 118 #

Aurore LALUCQ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 7 a (new)

7 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 the lack of diversity and gender-balance in the management bodies of financial institutions;

Amendment 119 #

Motion for a resolution
Paragraph 7 b (new)

7 b. Warns that high exposures to fossil fuels will become a risk for companies, with those fossil fuel assets becoming stranded assets; underlines that in order to fight this new systemic risk fossil fuel assets should be treated as ’higher risk’ assets and assigned a risk weight of 150% in line with the Basel framework;

Amendment 12 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Recital A

A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, ~~need~~has to be ~~supplemen~~completed by the creation of a European deposit insurance scheme (EDIS) in order to mitigate risk exposure of the financial sector;

Amendment 120 #

Motion for a resolution
Paragraph 8

8. Regrets the lack of gender balance in the ECB Governing Council, its Supervisory Board and the SRB Board~~; calls on them to ensure that future appointments close the gap;~~ and more broadly the fact that women continue to be underrepresented in executive positions in the field of banking and financial services; calls on actors to ensure that future appointments close the gap; 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; recalls the European Parliament's 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 121 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

Motion for a resolution
Paragraph 8

8. Regrets the lack of gender balance in the ECB Governing Council, its Supervisory Board and the SRB Board; calls on them to ensure that future appointments close the gap; reiterates the Parliament’s commitment not to take into account lists of candidates where the gender balance principle has not been respected;

Amendment 122 #

Motion for a resolution
Paragraph 8 a (new)

8 a. 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 123 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the Banking Union 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 124 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Deplores that, as part of the selection procedure for the Chair of the Supervisory Board of the ECB, the ECB has ignored the feedback provided by the European Parliament; urges the ECB to take duly into account the European Parliament's opinion in the upcoming selection procedure;

Amendment 125 #

Motion for a resolution
Paragraph 8 b (new)

8 b. Shares the EBA's concern 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 126 #

Motion for a resolution
Paragraph 8 c (new)

8c. Points out that rising public debt levels following the pandemic make an appropriate treatment of sovereign exposures more pressing;

Amendment 127 #

Motion for a resolution
Paragraph 9

9. Notes that the Common Equity Tier 1 ratio increased in the first quarter of 2023~~, but regrets that the liquidity coverage ratio fell;~~ to 15.53% (up from 14.99% in the first quarter of 2022); regrets that the liquidity coverage ratio fell to 161.27% in the first quarter of 2023 (down from 167.9% in the first quarter of 2022);

Amendment 128 #

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; ~~calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets;~~

Amendment 129 #

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; ~~calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets;~~

Amendment 13 #

Motion for a resolution
Recital A

A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, ~~needs to~~must be supplemented by the creation of a European deposit insurance scheme (EDIS);

Amendment 130 #

Irene TINAGLI

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; ~~calls for the adoption of the proposal for a AECE Directive to develop NPL secondary market~~highlights that the directive on credit servicers and credit purchasers has made the secondary market for non- performing loans more efficient, while establishing high safeguards for debtors; underlines that the sale of a non- performing loan represents a second best solution compared to returning the credit to performing status; stresses that if the debtor is a household, banks are required to exercise, where appropriate, reasonable forbearance before the sale of impaired loans and before enforcement proceedings are initiated; calls for the extension of this practice to small and medium-sized enterprises;

Amendment 131 #

Frances FITZGERALD, Esther DE LANGE

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; ~~calls for the adoption of the proposal for a AECE Directive to develop NPL secondary market~~stresses that a significant part of this reduction was done through selling NPLwallets to third-party entities, resulting in large capital losses for the banking sector, often assumed by government budgets, and further unprotected debtors;

Amendment 132 #

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; ~~calls for the adoption of the proposal for a AECE Directive~~recalls that risk reduction in the banking sector would contribute to a more stable, strong and economic growth oriented Banking Union; calls for the adoption of the proposal for a AECE Directive, 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, in order to develop NPL secondary markets;

Amendment 133 #

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further, but is still far from satisfactory; highlights that there are substantial differences between Member States which should be taken into consideration; calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets;

Amendment 134 #

Motion for a resolution
Paragraph 10

10. Notes that the NPL ratio decreased further; calls for the adoption of the proposal for a AECE Directive to develop NPL secondary markets; calls on supervisors to also monitor the developmen of stage 2 loans;

Amendment 135 #

Irene TINAGLI

Motion for a resolution
Paragraph 10 a (new)

10 a. Underlines that credit institutions should be encouraged to engage in proactive, preventive and meaningful debt restructuring to support debtors, when deemed appropriate, without necessarily entailing that a default shall be considered to have occurred; stresses that the current specification of what constitutes a material diminished financial obligation in case of distressed restructuring does not provide adequate flexibility to credit institution; calls for a more granular classification that takes in due consideration, among other things, the kind of concession granted, the residual maturity of the exposure and the length of the postponement; recalls that the political agreement on the revision of the CRR invites the EBA to review its guidelines on the matter by 1 January 2026; expresses the hope that the EBA will be able to review the guidelines before that final date;

Amendment 136 #

Motion for a resolution
Paragraph 10 a (new)

10a. Takes note of a deteriorating macroeconomic condition; 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 137 #

Motion for a resolution
Paragraph 11

11. ~~Highlights that~~Notes the limited impact of the recent failure of midsized US banks ~~proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape~~; is concerned, however, that further risks arising from the unprecedented high-level of reference interest rates are still to be fully assessed; calls on supervisors to continue assessing exposures to further interest rate hikes;

Amendment 138 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 11

11. Highlights that the l~~imited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks a~~atest round of bank failures in the US and Switzerland has proven the intrinsi~~ng from changes in~~c vulnerability of the fin~~terest rate landscape~~ancial system; calls on EU supervisors to continue assessing banks’ exposures to ~~fur~~risks arising from changes in ther interest rate ~~hikes~~landscape;

Amendment 139 #

Motion for a resolution
Paragraph 11

11. Highlights that the limited impact in the European Union of the recent failure of midsized US banks proves the resilience of the EU banking sector; stresses the importance of clear, precise, crisis management plans, and the need for greater harmonisation and a level playing field for the application of crisis management rules between Member States, calls for this element to be at the forefront of the current reform; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes;

Amendment 14 #

Motion for a resolution
Recital A

A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needs to be supplemented by ~~the c~~a coherent Direacti~~on of a European~~ve on Deposit Guarantee Schemes (DGSD) with national deposit ~~insu~~guaranctee scheme ~~(EDIS)~~s;

Amendment 140 #

Motion for a resolution
Paragraph 11

11. Highlights that ~~the limited impact~~against the backdrop of the recent failure of midsized US banks ~~proves~~, the capital and liquidity situation of European banks has continued to remain solid thereby demonstrating the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; ~~calls on supervisors to continue assessing exposures to further interest rate hike~~takes note of the ongoing assessment by supervisors of exposures to further interest rate hikes; notes that interest rates have increased only for credits but not for deposits;

Amendment 141 #

Motion for a resolution
Paragraph 11

Amendment 142 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 11

11. Highlights that the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU and national supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes;

Amendment 143 #

Motion for a resolution
Paragraph 11

11. Highlights that the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes; recalls that the ECB's 'Financial Stability Review 2023' emphasises the importance of taking into account the deterioration of bank balance sheets associated with the increase in interest rates and emphasises that macroprudential authorities will need to gradually strengthen capital and/or borrower-related measures; and underscores the need for continued work to enhance the regulatory framework for banks;

Amendment 144 #

11 a. Highlights that banks' exposure to domestic sovereign debt remains high, and draws attention to the risks involved; recalls that one of the main objectives of the Banking Union is to break the state- bank doom loop and the link between bank risk and sovereign risk;

Amendment 145 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Paragraph 12

12. Welcomes the results of the 2023 EU-wide stress test and the fact that EU banks could withstand an economic downturn; notes that the exposure of banks to interest rate risk depends on their asset structure and business model; is concerned about the significant level of sovereign debt on the balance sheets of banks in the Banking Union; emphasises that the issue of regulatory treatment of sovereign exposures requires an in-depth examination within international fora and should be consistent with international standards; recalls that one of the main objectives of the Banking Union is to break the link between bank and sovereign risks;

Amendment 146 #

Motion for a resolution
Paragraph 12 a (new)

12 a. Acknowledges the progresses made over the last 15 years through the establishement of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) ; calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);

Amendment 147 #

Motion for a resolution
Paragraph 13

13. Calls for ~~further~~ harmonisation of the EU regulatory framework to the extent necessary, promoting convergence between national authorities and using the supervisory dialogue to assess the evolution of threats to the banking sector;

Amendment 148 #

Motion for a resolution
Paragraph 13

13. Calls for further harmonisation of the EU regulatory framework, where appropriate, promoting convergence between national authorities and using the supervisory dialogue to assess the evolution of threats to the banking sector;

Amendment 149 #

Motion for a resolution
Paragraph 13

13. Calls for options for further harmonisation of the EU regulatory framework, promoting convergence between national authorities, and using the supervisory dialogue to assess the evolution of threats to the banking sector;

Amendment 15 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital A

A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needs to be supplemented by the creation of a European deposit insurance scheme (EDIS) with no further conditionality;

Amendment 150 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Recalls the need, as expressed by the chair of the European Union’s Single Resolution Board, to fully and entirely respect the write-down hierarchy in case of bank failure;

Amendment 151 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 13 b (new)

13 b. Recalls that the President of the ECB, Christine Lagarde, during her hearing on 20 March 2023 in the ECON Committee demanded the full application of Basel III in terms of bank capital requirements;

Amendment 152 #

Aurore LALUCQ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights that the framework will not increase prudential requirements for banks or damage their competitivenesCalls on co-legislators to reconsider the deviations from international prudential standards introduced as part of the CRR/CRD review, in particular given that new risks have emerged since the adoption of the Basel III framework; recalls that EU banks specificities were already taken into account in the calibration of Basel capital requirements; notes that the full implementation of the Basel standards tofor crypto-assets is still pending but welcomes the transitional regime already included in the current CRR/CRD review;

Amendment 153 #

Motion for a resolution
Paragraph 14

14. ~~Welcomes~~Takes note of the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights th~~at the framework will not increase prudential requirements for banks or damage their competitivenes~~e concerns expressed by the EBA and the ECB that many deviations from the international agreement have been introduced in the final text of the regulation; recalls that EU banks’ specificities were already taken into account in the calibration of Basel capital requirements; notes that the implementation of the Basel standards to crypto-assets is still pending;

Amendment 154 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; ~~highlights that the framework will not increase prudential requirements for banks or damage their competitiveness;~~ notes that the implementation of the Basel standards to crypto-assets is still pending;

Amendment 155 #

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; ~~highlight~~underlines that the framework will ~~not increase~~deliver differing levels of prudential requirement~~s for banks or damage their competitivenes~~ increases depending on banks’ structures and business models; recalls that these new rules will continue to increase financial stability in the European Union and underlines the importance of a level playing field between jurisdictions; notes that the implementation of the Basel standards tofor crypto-assets is still pending and awaits the Commission’s legislative proposal by 30 June 2025 to introduce a dedicated prudential treatment for exposures to crypto assets, taking into account the Basel standards;

Amendment 156 #

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; ~~highlight~~welcomes that the ~~framework will not increase prudential requirements for banks or damage their competitiveness~~specificities of the European banking sector have been taken into account; notes that the implementation of the Basel standards to crypto-assets is still pending;

Amendment 157 #

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights th~~at the framework will no~~e importance of its swift and effective implementation, without increaseing prudential requirements for banks or damageing their competitiveness; ~~notes that the implementation of the Basel standards to crypto-assets is still pending;~~

Amendment 158 #

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; regrets, however, that the international framework still encompasses undesirable carve-outs; highlights that the framework will not increase prudential requirements for banks or damage their competitiveness; ~~note~~regrets that the implementation of the Basel standards tofor crypto-assets is still pending;

Amendment 159 #

Irene TINAGLI

Motion for a resolution
Paragraph 14

14. Welcomes the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights that the framework will not increase prudential requirements for banks or damage their competitiveness; notes that the implementation of the Basel standards to crypto-assets is still pending; highlights that the new rules have strengthened and better specified proportionality in banking supervision; calls on the national and European supervisors to effectively apply this principle;

Amendment 16 #

Motion for a resolution
Recital A a (new)

A a. whereas addressing the risks arising from the problem of the overly concentrated sovereign-bank nexus would offer crucial additional stability and security for the European banking system and the customers that use it;

Amendment 160 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Stresses the need to support measures for the structural reform of EU G-SIBs as the only way to remove the threat that large banks pose to financial stability and, consequently, fundamentally address moral hazard risks;

Amendment 161 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Stresses that crypto-assets create new challenges for banks; stresses the need to further improve the MiCA Regulation, namely by including NFT and DeFi, under a so-called MiCA II, as suggested by Christine Lagarde;

Amendment 162 #

Motion for a resolution
Paragraph 15

15. Notes that the non-bank financial intermediary sector is continuing to grow; ~~regrets that different rules for these activities may entail significant risks;~~ calls for an appropriate regulatory approach to shadow banking, for the promotion of fair competition with banks and for the risks stemming from banks’ exposure to these activities to be addressed;

Amendment 163 #

Motion for a resolution
Paragraph 15

15. Notes that the non-bank financial intermediary sector is continuing to grow; ~~regre~~highlights that different rules for these activities may entail significant risks; calls for an appropriate regulatory approach to ~~shadow banking, for the promotion of fair competition with banks and for the risks stemming from banks’ exposure to these activities to be addressed~~this sector;

Amendment 164 #

Motion for a resolution
Paragraph 15

Amendment 165 #

Motion for a resolution
Paragraph 15

15. Notes that the non-bank financial intermediary sector is continuing to grow; regrets that different rules for these activities may entail significant risks; calls for an appropriate regulatory approach to shadow banking, for the promotion of fair competition with banks and for the risks stemming from banks’ exposure to these activities to be addressed; stresses the need to enhance the resilience of non-bank financial intermediaries, including by elaborating specific regulatory and supervisory tools to prevent a liquidity crisis;

Amendment 166 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 16

16. Highlights the ~~importance of combining further~~problems and challenges associated with the host-host issue; points out that greater market integration ~~with~~requires credible ~~safeguards addressing the home- host issue~~guarantees for host countries to be reflected in EU law;

Amendment 167 #

Motion for a resolution
Paragraph 16

16. Highlights the importance of combining further integration with ~~credibl~~adequate safeguards addressing the home- host issue in a proportionate manner;

Amendment 168 #

Motion for a resolution
Paragraph 16 a (new)

16 a. Welcomes the inclusion of climate- and nature-related financial risks in the ECB´s supervisory priorities for the coming years; welcomes, among other things, the ECB´s second economy-wide climate stress test in September 2023; echoes ECB´s concerns as the stress test found that the best way to achieve a net- zero economy for firms, households and banks in the euro area is to accelerate the green transition to a rate that is faster than under current policies; calls on the ECB to continue to give priority to climate- and nature-related financial risks in its supervisory practices and monitor growing physical and transition risks closely;

Amendment 169 #

Motion for a resolution
Paragraph 16 b (new)

16 b. Stresses the need to enhance the transparency, comparability and quality of ESG ratings; welcomes the Commission's proposal in this regard but regrets that this proposal falls short in setting minimum requirements for ESG ratings methodologies; notes that the EBA recommends that external credit assessments integrate environmental and/or social factors as drivers of credit risk whenever relevant; calls on the European Commission to table a legislative proposal to tackle this issue as soon as possible;

Amendment 17 #

Motion for a resolution
Recital A a (new)

A a. whereas the main objective of the Banking Union is to safeguard the stability of the banking sector in Europe and prevent the need to bail out banks at risk of failure with taxpayers' money;

Amendment 170 #

Motion for a resolution
Paragraph 16 c (new)

16 c. Calls on the EBA to change its guidelines on the Systemic Risk Buffer (SyRB) to ensure and harmonise the way competent authorities apply the SyRB to reflect ESG risks;

Amendment 171 #

Motion for a resolution
Paragraph 17

17. Welcomes the SRB’s approaches to deepening resolution assessments by developing quality control measures for resolution plans and assessing whether these plans can be implemented at short notice; stresses that any impediment to resolvability identified should be dealt with appropriately, including by requiring changes to a bank’s structure and organisation if necessary;

Amendment 172 #

Motion for a resolution
Paragraph 17

17. Welcomes the SRB’s approaches to deepening resolution assessments by developing quality control measures for resolution plans and assessing whether these plans can be implemented at short notice; welcomes that overall banks under the SRB’s remit have delivered good progress towards resolvability and in building up loss-absorbing capacity;

Amendment 173 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Recalls that achieving resolvability for all institutions should not be a 'moving target' and that all banks should be fully resolvable by the end of 2023; notes that further progress is needed for all banks;

Amendment 174 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Believes that prudential safeguards should be put in place in order to guarantee that banks do not get into a position where they need either a resolution or a liquidation;

Amendment 175 #

Motion for a resolution
Paragraph 17 b (new)

17 b. Believes that nationalisation shall be included the toolkit at the disposal of Member States when managing a banking crisis;

Amendment 176 #

Motion for a resolution
Paragraph 17 c (new)

17 c. Stresses that financial institutions that benefit from any form of public support, including capital relief measures, have to halt dividends distribution, share buybacks and variable remuneration payments;

Amendment 177 #

Motion for a resolution
Paragraph 18

18. ~~Welcom~~Notes the new SRB Chair’s decision to undertake a comprehensive strategic review and deliver a new action plan;

Amendment 178 #

Motion for a resolution
Paragraph 19

19. ~~Underlines~~Warns of the importance of protecting creditor hierarchy in bank~~ing~~ resolution~~; welcomes the joint~~ and insolvency procedures; welcomes the statement by the ECB banking supervision, SRB and EBA ~~statement regarding the full use of~~underlining that in the EU common equity instruments ~~before~~shall absorb losses and Additional Tier 1 c~~apital is~~ould only be written down if the former have been fully used;

Amendment 179 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Paragraph 19

19. Underlines the importance of protecting creditor hierarchy in banking resolution; welcomes the joint ECB banking supervision, SRB and EBA statement regarding the full use of common equity instruments before Additional Tier 1 capital is written down; stresses that Deposit Guarantee Schemes fulfil the purpose of protecting deposits and should not be misused under no circumstance;

Amendment 18 #

Motion for a resolution
Recital A a (new)

A a. whereas an agreement was reached in 2020 on the creation of a backstop for the Single Resolution Fund (SRF), but has still not been implemented;

Amendment 180 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 19 a (new)

19 a. Recalls that fossil fuels are the main contributor to accelerating climate change, and that many fossil fuel assets will need to be abandoned before the end of their economic life, losing all of their value and becoming stranded assets;

Amendment 181 #

Motion for a resolution
Paragraph 20

20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limiteArgues that the scope of resolution should be focused on institutions classified as systematically important (G- SIBs and O-SIIs), that a broader expansion of the resolution concept on all institutions contradicts the principle of proportionality and is unnecessary from a financial stability perspective, and that DGS measures are not to beclassified as State aid;

Amendment 182 #

Motion for a resolution
Paragraph 20

20. ~~Welcom~~Notes the proposal to reform the CMDI framework ~~following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited;~~ ; recalls 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; considers that this notion should not be put into question by the CMDI review;

Amendment 183 #

Motion for a resolution
Paragraph 20

20. ~~Welcom~~Notes the proposal to reform the CMDI framework following calls by Parliament; ~~calls for the scope of resolution to be expanded,~~highlights that the expansion of the scope of resolution shall not impact bank concentration; calls for clarification of public interest assessments and for the scope of State aid to be limited;

Amendment 184 #

Motion for a resolution
Paragraph 20

20. ~~Welcomes~~Takes note of the proposal to reform the CMDI framework following calls by the Parliament; ~~calls for the scope of resolution to be expanded,~~underlines the necessity to apply proportionality in the resolutions; calls for clarification of public interest assessments and for the scope of State aid to be ~~limit~~well defined;

Amendment 185 #

20. ~~Welcom~~Notes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments, taxpayers to be insulated from the cost of bank failures, and for the scope of State aid to be limited;

Amendment 186 #

Motion for a resolution
Paragraph 20

20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; and calls for ~~the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited~~its swift and effective adoption;

Amendment 187 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 20

20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for ~~the scope of resolution to be expanded, clarification of~~ public interest assessments to be clarified and for the scope of State aid to be limited;

Amendment 188 #

Motion for a resolution
Paragraph 20

20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments ~~and~~, for the scope of State aid to be limited, the mitigation of any measures which could create excessive moral hazard, balance between flexibility and constraints when using the industry funded safety nets, harmonisation of crisis management procedures to deliver predictability and a level playing field;

Amendment 189 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

Motion for a resolution
Paragraph 20

20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; considers that financial stability is better preserved if small and medium-size banks with a positive public interest assessment have access to the EU-level resolution framework;

Amendment 19 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Recital B

~~B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing;~~deleted

Amendment 190 #

Motion for a resolution
Paragraph 20

Amendment 191 #

Motion for a resolution
Paragraph 20 a (new)

20 a. Opposes any proposal to weaken the minimum bail-in condition of 8% TLOF to access resolution funds as part of the current reform of the CMDI framework; stresses in particular that DGS contributions to a bank's resolution should not be taken into account when calculating the 8% threshold, as otherwise the risk would be redistributed from bail- in to industry safety nets;

Amendment 192 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

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 193 #

Motion for a resolution
Paragraph 20 a (new)

20 a. Stresses that financial institutions benefitting from direct State aid measures must refrain from dividend distribution, share buybacks and variable remuneration payments; calls for this temporary limitation to be established in a legally binding form;

Amendment 194 #

Motion for a resolution
Paragraph 21

21. Highlights the role of the SRB and industry-funded safety nets in protecting taxpayers from paying for bailouts; ~~calls for the~~regrets that despite the political agreement in November 2020 on an early introduction ~~of a~~, the backstop ~~consisting of a credit line from the European Stability Mechanism~~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 195 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 21

21. Highlights the role of the SRB and industry-funded safety nets in protecting taxpayers from paying for bailouts; calls for the ~~introduction of a backstop consisting of a credit line from the European Stability Mechanism~~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 196 #

Motion for a resolution
Paragraph 21

21. Highlights the role of the SRB and industry-funded safety nets in protecting taxpayers from paying for bailouts; calls for the introduction of a backstop consisting of a credit line from the European Stability Mechanism; believes that contributions to industry-funded safety nets must always be calculated in proportion to the risk that the institution represents;

Amendment 197 #

Motion for a resolution
Paragraph 21 a (new)

21 a. 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 198 #

Frances FITZGERALD, Esther DE LANGE

Motion for a resolution
Paragraph 22

22. ~~Regrets the lack of progress following the calls by MEPs in their statement of 7 December 2022 for negotiations on EDIS to be resumed~~Argues that a harmonised regulation of deposit insurance fulfils the approach of a completed Banking Union; takes note of the Eurogroup statement of 16 June 2022 on the future of the Banking Union;

Amendment 199 #

Motion for a resolution
Paragraph 22

22. ~~Regrets the lack of progress following the calls by MEPs~~Supports calls by MEPs negotiating the EDIS proposal in their statement ofn 7 December 2022 for ~~negotiations on EDIS to be resumed~~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;

Amendment 2 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Citation 13 a (new)

– having regard to the standards of the Basel Committee on Banking Supervision on the prudential treatment of crypto-asset exposures, of 16 December 2022,

Amendment 20 #

Motion for a resolution
Recital B

B. whereas a completed B~~U would improve the compet~~anking Union would be a positive development for citivzeness and ~~stability of the banking sector and consumer choice and facilitate access to financing~~the EU economy, providing the basis for a more stable banking system, reduction of systemic risk, enhanced competition, improved consumer choice, increased opportunities for cross-border banking and access to retail financial services, greater economic investment, better access to funding for households and businesses, and the reduction of costs for banks' customers;

Amendment 200 #

Motion for a resolution
Paragraph 22

22. ~~Regret~~Notes the lack of progress following the calls by MEPs in their statement of 7 December 2022 for negotiations on EDIS to be resumed;

Amendment 201 #

Motion for a resolution
Paragraph 22

22. ~~Regret~~Notes the lack of progress following the calls by MEPs in their statement of 7 December 2022 for negotiations on EDIS to be resumed;

Amendment 202 #

Frances FITZGERALD, Esther DE LANGE

Motion for a resolution
Paragraph 22

22. Regrets the lack of progress following the calls by MEPs in their statement of 7 December 2022 for negotiations on EDIS to be resumed; concurs with the ECB which supports the resumption of work to establish EDIS and does not see a need for additional pre- conditions related to risk reduction for its introduction;

Amendment 203 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Welcomes the legislative work at parliamentary level on the proposal for a European deposit insurance scheme that has taken place since the December 2022 statement of the Parliament's EDIS negotiating team; reiterates Parliament's commitment to working towards an agreement on an EDIS, which should be combined with appropriate risk reduction measures; calls for the co-legislators to work towards the establishment of an EDIS that is realistic, credible, and solid;

Amendment 204 #

Motion for a resolution
Paragraph 23

23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS; _________________ 3 OJ L 173, 12.6.2014, p. 149.deleted

Amendment 205 #

Motion for a resolution
Paragraph 23

Amendment 206 #

Motion for a resolution
Paragraph 23

23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; ~~warns that the CMDI review cannot be considered a replacement for EDIS~~ensuring a high level of protection for all investors and depositors is at the heart of the Banking Union and the Capital Markets Union; _________________ 3 OJ L 173, 12.6.2014, p. 149.

Amendment 207 #

Motion for a resolution
Paragraph 23

23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; ~~warns that the CMDI review cannot be considered a replacement for EDIS~~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; _________________ 3 OJ L 173, 12.6.2014, p. 149.

Amendment 208 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Paragraph 23

23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS but should pave the way for its swift implementation; _________________ 3 OJ L 173, 12.6.2014, p. 149.

Amendment 209 #

Motion for a resolution
Paragraph 23

23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS; considers that this review should pave the way toward the establishment of EDIS; _________________ 3 OJ L 173, 12.6.2014, p. 149.

Amendment 21 #

Motion for a resolution
Recital B

B. whereas a completed BU ~~would improve the competitiveness and~~shall be motivated by fostering stability of the banking sector and consumer ~~choice and facilitate access to financing~~protection, while addressing the problem of market concentration;

Amendment 210 #

Motion for a resolution
Paragraph 23 a (new)

23 a. Calls on the Commission to present an ambitious and comprehensive revision of the crisis management and deposit guarantee framework; points out that this must take into account the specificities of national banking sectors; inter alia with a view to maintaining a functioning framework for institutional protection schemes to implement preventive measures; points out that the protection of taxpayers' money is one of the main objectives of the resolution framework;

Amendment 211 #

Motion for a resolution
Paragraph 24

Amendment 212 #

Motion for a resolution
Paragraph 24

24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of fundStresses 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 and a risk weighting model for different sovereign loans;

Amendment 213 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

Motion for a resolution
Paragraph 24

24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account; calls for an targeted assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of ~~funds;~~ an EU fund; recalls that the ultimate goal remains to have a fully-fledged EDIS that provides loss-coverage;

Amendment 214 #

Motion for a resolution
Paragraph 24

24. Underlines the need for risk-based contributions to ~~EDIS~~a fully-fledged EDIS that enables loss absorption; calls for institutional protection schemes to be taken into account, while preserving the level playing field within the Single Market; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of funds;

Amendment 215 #

Motion for a resolution
Paragraph 24

24. Underlines the need for risk-based contributions to EDIS; calls for institutional protection schemes to be taken into account, meaning a differentiation in DGSD context between preventive measures in general and preventive measures done by systems certified according to Article 113(7) CRR; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of funds;

Amendment 216 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Notes that banks' risk positions against domestic government debt remain high; reiterates that one of the main objectives of the Banking Union is to break the link between banking and sovereign risks and that this requires, in particular, stronger risk pricing of government bonds in banking regulation;

Amendment 217 #

Motion for a resolution
Paragraph 25

25. ~~Notes that effective risk reduction is key for EDIS; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations~~Recognises that EDIS could improve protection for depositors in the EU; considers, however, that the main obstacle to the introduction of EDIS is risk concerns in some banking systems; stresses that risk mitigation is key to an agreement on EDIS;

Amendment 218 #

25. Notes that effective risk reduction is ~~key for EDIS; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations o~~a necessary precondition for an EDIS;

Amendment 219 #

Motion for a resolution
Paragraph 25

25. Notes that effective risk reduction is ~~key for EDIS; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on~~a pre-condition for EDIS;

Amendment 22 #

Motion for a resolution
Recital B

B. whereas a ~~complet~~developed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing;

Amendment 220 #

Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES, Jonás FERNÁNDEZ, Aurore LALUCQ

Motion for a resolution
Paragraph 25

25. Notes that effective risk reduction is key for EDIS; ~~highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS~~emphasises the importance of continued risk reduction measures for the success of the Banking Union;

Amendment 221 #

Motion for a resolution
Paragraph 25

25. ~~Notes that effective risk reduction is key for EDIS~~Welcomes the significant progress in risk reduction; regrets, on the other hand, the limited progress regarding risk sharing; reminds the analysis of the SSM, stating that ‘the implementation of EDIS should not be linked to further risk reduction benchmarks’; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS;

Amendment 222 #

Caroline NAGTEGAAL

Motion for a resolution
Paragraph 25

25. Notes that effective risk reduction is key for EDIS and recognises it as a precondition for the establishment of risk- sharing mechanisms such as EDIS; highlights in this regard that proper regulatory treatment of sovereign exposure is required; emphasises that capital requirements must reflect the actual risk borne by banks in the market; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS;

Amendment 223 #

Motion for a resolution
Paragraph 25

25. Notes that effective risk reduction is key for EDIS and that significant progress has been made since 2015 and the initial Commission's proposal; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS; urges co- legislator to seize this opportunity to make progress on establishing an EDIS;

Amendment 224 #

Motion for a resolution
Paragraph 25 a (new)

25a. Recognises the risk-mitigating effect of institutional protection schemes and highlights that this should be preserved under any EDIS;

Amendment 23 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Recital B

B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and protection and facilitate access to financing for economic actors;

Amendment 24 #

Motion for a resolution
Recital B

B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing whilst ensuring that public funds are not used to bail out the banking sector;

Amendment 25 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

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 businesses, for increasing the possibility of home- ownership, for innovation, for investment, and for the widening of economic opportunity for all;

Amendment 26 #

Motion for a resolution
Recital B a (new)

B a. whereas a decade and a half after the financial crisis, banks are still ‘too big to fail’ and ‘too interconnected’ to fail;

Amendment 27 #

Motion for a resolution
Recital C

C. whereas EU banks have withstood the impact of Russian aggression; whereas they are key for implementing sanctions against Russia; whereas further coordination is needed to avoid circumvention of sanctions; 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 28 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital C

C. whereas EU banks have withstood the impact of Russian aggression; whereas they are key for implementing sanctions against Russia; whereas ~~further coordination~~effective sanctions compliance in all areas is needed to avoid circumvention of sanctions;

Amendment 29 #

Motion for a resolution
Recital C a (new)

C a. whereas climate change, environmental degradation and the transition to a low-carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors;

Amendment 3 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Citation 14 a (new)

– having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,

Amendment 30 #

Motion for a resolution
Recital D

D. whereas agreement on a European Deposit Insurance Scheme (EDIS) has not yet been achieved; whereas, following calls from Parliament, the Commission proposed a reform of the crisis management and deposit insurance (CMDI) framework, while recognising that this framework should not be considered as a replacement for a EDIS;

Amendment 31 #

Motion for a resolution
Recital E

Amendment 32 #

Motion for a resolution
Recital E

E. whereas ~~fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened~~’too-big-to-fail’ institutions continue to pose systemic risks to the European financial system because of their size, complexity and interconnectedness;

Amendment 33 #

Motion for a resolution
Recital E

E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; ~~whereas the profitability gap between EU and US banks has widened;~~

Amendment 34 #

Motion for a resolution
Recital E

E. whereas fragmentation ~~and the lack of cross-border consolidation~~ of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened;

Amendment 35 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Recital E

E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas, nevertheless, consumer banking in some Member States is still dominated by a small number of banks; whereas the profitability gap between EU and US banks has widened;

Amendment 36 #

Motion for a resolution
Recital E

E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness and results in reduced services and offers and often increased costs for EU citizens; whereas the profitability gap between EU and US banks has widened;

Amendment 37 #

Motion for a resolution
Recital E

E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened; during the last decade and EU banks’ return on equity is 5 points lower than US banks’;1a _________________ 1a https://www.ecb.europa.eu/pub/pdf/scpops /ecb.op327~0d50b9136f.en.pdf

Amendment 38 #

Motion for a resolution
Recital E

E. whereas fragmentation and the lack of cross-border consolidation of the EU banking sector is affecting its global competitiveness; whereas the profitability gap between EU and US banks has widened; taking into account the heterogeneous structure of the banking markets within the EU; highlights the ambition not to enforce the too big to fail problem;

Amendment 39 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital E a (new)

E a. whereas a fully developed Banking Union would boost the competitiveness of the banking sector, promote cross-border mergers and increase its stability; whereas the completion of the Banking Union would improve consumer choice and facilitate a broader access to credit;

Amendment 4 #

Motion for a resolution
Citation 14 b (new)

– having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,

Amendment 40 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital E a (new)

E a. whereas the EU banking sector has shown rising profitability, notably due to higher interest rates and as a result of the increased ECB deposit rate in combination with the presence of excess reserve;

Amendment 41 #

Motion for a resolution
Recital E a (new)

E a. whereas consumers of banking services should be better protected by granting them access to transparent fee structures, fair lending practices, and enhanced customer data protection;

Amendment 42 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital E b (new)

E b. whereas the rise in interest rates has positively impacted the profit margins of banks but had also lead to a deterioration of the balance sheet of certain banks due to unrealised capital losses;

Amendment 43 #

Motion for a resolution
Recital E b (new)

E b. whereas the EU largely remains a bank-based economy and the completion of the Capital Markets Union is key to diversify access to finance by households, companies and SMEs;

Amendment 44 #

Motion for a resolution
Recital F

F. whereas ~~a strong~~the role of the banking sector is ~~key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and the transition to a green and digital economy~~crucial to the transition to a sustainable e economy, and banks play a key role for channelling savings into productive investments, hence must refrain from any speculative activities;

Amendment 45 #

Motion for a resolution
Recital F

F. whereas a strong banking sector is key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and ~~the transition to a green and digital~~supporting the European economy;

Amendment 46 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Recital F

F. whereas a strong banking sector is key for delivering economic growth, recovery from recent crises, financing small and medium-sized enterprises (SMEs) and start-ups and the transition to a ~~green~~sustainable and digital economy;

Amendment 47 #

Motion for a resolution
Recital F

F. whereas a strong banking sector is key for delivering economic growth, financing small and medium-sized enterprises (SMEs) and start-ups and the urgent transition to a green and digital economy;

Amendment 48 #

Motion for a resolution
Recital G

G. whereas the non-performing loan (NPL) ratio slightly decreased to 2.24% in the first quarter of 2023 de, and has steadily declined since the end of the Great Recession (in spite of the pandemic and the Russian ~~aggression against~~invasion of Ukraine);

Amendment 49 #

Motion for a resolution
Recital G

G. whereas although the non- performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine, it remains a source of concern;

Amendment 5 #

Motion for a resolution
Citation 15 a (new)

– having regard to the EBA report on the role of environmental and social risks in the prudential framework,

Amendment 50 #

Motion for a resolution
Recital G

G. whereas the banking sector faces further risks following the pandemic and the invasion, particularly in relation to asset quality deterioration; whereas the non-performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine;

Amendment 51 #

Motion for a resolution
Recital G

G. whereas the non-performing loan (NPL) ratio slightly decreased in the first quarter of 2023 despite the pandemic and the Russian aggression against Ukraine; whereas, nevertheless, the situation varies considerably from one Member State to another and the current NPL ratio is unsatisfactory;

Amendment 52 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital G a (new)

G a. whereas breaking the state-bank doom loop must be a priority for the Banking Union;

Amendment 53 #

Motion for a resolution
Recital H

H. whereas ~~EU legislators negotiated rules to~~the EU should ensure timely, full and faithful implementation of Basel III standards ~~in a way that preserves banks’ competitiveness and takes into account the specificities of the EU banking sector~~;

Amendment 54 #

Motion for a resolution
Recital H

H. whereas EU co-legislators ~~negotiated rules~~agreed to implement Basel III standards in a way that ~~preserves banks’ competitiveness and takes into account the specificities of the EU banking sector~~includes several deviations and puts the EU at risk of being considered as non- compliant with Basel III standards;

Amendment 55 #

Motion for a resolution
Recital H

H. whereas EU legislators negotiated rules to implement Basel III standards ~~in a way that preserves banks’ competitiveness and takes~~taking into account the specificities of the EU banking sector and allowing significant carve-outs;

Amendment 56 #

Motion for a resolution
Recital H a (new)

H a. whereas the digitalisation of finance provides important opportunities for the banking sector and has brought about important technological advances in the EU banking sector through increased efficiency in the provision of banking services and a greater appetite for innovation, it also poses challenges, including with regard to data protection, reputational risks, AML, and consumer protection concerns;

Amendment 57 #

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 58 #

Motion for a resolution
Recital H c (new)

H c. 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 59 #

Motion for a resolution
Recital H d (new)

H d. whereas the Banking Union should help to address the bank-sovereign nexus or doom loop, 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 should be consistent with international standards;

Amendment 6 #

Motion for a resolution
Citation 25 a (new)

– having regard to the ECB's report on its supervisory priorities for 2023-25 of 12 December 20221a _________________ 1a https://www.bankingsupervision.europa.e u/banking/priorities/html/ssm.supervisory _priorities202212~3a1e609cf8.en.html

Amendment 60 #

Motion for a resolution
Recital H e (new)

H e. whereas the EU and the UK have signed a Memorandum of Understanding on Financial Services Regulatory Cooperation, and this cooperative approach should underpin long-term EU- UK relations particularly in the area of banking; whereas the Commission has again extended its temporary permit allowing EU banks and fund managers to use UK clearing houses;

Amendment 61 #

Motion for a resolution
Recital I

~~I. whereas risks stemming from interest rate hikes have been properly addressed;~~deleted

Amendment 62 #

Motion for a resolution
Recital I

I. whereas ~~risks stemming from interest rate hikes have been properly addressed~~since July 2022 the ECB increased 10 consecutive times the reference interest rates; whereas the deposit facility rate reached 4%, representing the highest level since the creation of the common currency; whereas the current cycle of restrictive monetary policy is still ongoing; whereas the full set of economic and social consequences are yet to be fully assessed, such as further pressure on the EU and national budgets, on the stability of the financial system, the housing market and hardships for households;

Amendment 63 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA

Motion for a resolution
Recital I

I. whereas r~~isks stemming from interest rate hikes have been properly addressed~~apid rises in interest rates are increasing the risk of financial instability, making EU banks in particular vulnerable to potential losses in the future;

Amendment 64 #

Motion for a resolution
Recital I

I. whereas ~~risks stemming from~~ interest rate hikes have ~~been properly addressed~~had a negative impact on the borrowing capacity of households and the capacity of borrowers to repay debt;

Amendment 65 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Recital I a (new)

I a. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;

Amendment 66 #

Motion for a resolution
Recital I a (new)

I a. whereas the overall level of capital held by the largest banks in the EU remains not only insufficient to cope with a major new market event, but also below that of their global counterparts;

Amendment 67 #

Motion for a resolution
Recital I b (new)

I b. whereas the fall of Credit Suisse has demonstrated that large (global and other) systemically important institutions still are far from being resolvable and that taxpayers' money is still at risk;

Amendment 68 #

Motion for a resolution
Recital I c (new)

I c. whereas Member States have circumvented the application of bail-in in the vast majority of bank failures within the Banking Union since 2015, while the Single Resolution Board has adopted only few resolution decisions since its creation;

Amendment 69 #

Motion for a resolution
Recital I d (new)

I d. whereas although a political agreement was reached in 2020, a backstop to the single resolution fund (SRF) is still missing;

Amendment 7 #

Motion for a resolution
Recital -A (new)

-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 70 #

Motion for a resolution
Recital I e (new)

I e. whereas, according to the latest available data, 16 of 36 DGS in the EU were below their required (minimum) funding level;

Amendment 71 #

Motion for a resolution
Recital I f (new)

I f. whereas climate-related risks are likely to trigger a new crisis that would destabilise the EU banking sector and be combined with the impending climate crisis;

Amendment 72 #

Motion for a resolution
Paragraph -1 (new)

-1. 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 73 #

Motion for a resolution
Paragraph 1

1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; ~~calls on banks to continue reducing their exposure to energy intensive corporates;~~

Amendment 74 #

Motion for a resolution
Paragraph 1

Amendment 75 #

Motion for a resolution
Paragraph 1

1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue ~~reducing their exposure to energy intensive corporates~~implementing and complying with the financial sanctions adopted in response to Russia's invasion of Ukraine;

Amendment 76 #

Motion for a resolution
Paragraph 1

1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue ~~reduc~~adapting their ~~exposure to energy intensive corporates~~strategic decisions in view of the new European and international context arising from that situation;

Amendment 77 #

Motion for a resolution
Paragraph 1

1. Condemns the Russian aggression against Ukraine and its impact on the Ukrainian people, on the EU and elsewhere; calls on banks to continue reducing their exposure to energy intensive corporates and energy derivatives;

Amendment 78 #

Motion for a resolution
Paragraph 1

Amendment 79 #

Motion for a resolution
Paragraph 1 a (new)

1 a. Stresses the need to increase capital requirements for climate-risk exposures, notably by implementing a ’one-for-one’ capital rule, whereby each euro of financing for new fossil fuel exploration is matched by one euro of lender capital ;

Amendment 8 #

Motion for a resolution
Recital -A a (new)

-A a. whereas the architecture of the EMU created the conditions for a credit- led growth in peripheral Member States, leading to a disproportionate dependence on the banking sector and overall private indebtedness;

Amendment 80 #

Motion for a resolution
Paragraph 2

2. Recalls that the banking sector plays a key role in the implementation of sanctions and in monitoring compliance; recalls ~~on the Commission to create a database at EU level to foster coordination among banks, close loopholes in Member States’ implementation of sanctions and assess how EU banks implement sanctions~~that individual Member States are responsible for identifying breaches of EU sanctions and imposing penalties if necessary;

Amendment 81 #

Motion for a resolution
Paragraph 2

2. Recalls that the banking sector plays a key role in the implementation of sanctions and in monitoring compliance; calls on the Commission to create a database at EU level to foster coordination among banks, close loopholes in Member States’ implementation of sanctions and assess how EU banks implement sanctions; considers that the upcoming anti-money laundering Authority (AMLA) has a crucial role to play to ensure a consistent application of the EU targeted financial sanctions;

Amendment 82 #

Motion for a resolution
Paragraph 3

3. ~~Calls on institution~~Notes that the total direct banking sector exposures to aRussi~~st the remaining EU banks operating in Russia in preparing an orderly exit from the Russian market~~a and Ukraine are limited and that banks are currently reducing their exposures; points out that European banks should prepare for a potential deterioration in asset quality; therefore highlights the importance of prudent risk management and appropriate provisioning, especially at national and EU levels;

Amendment 83 #

Motion for a resolution
Paragraph 3

3. Calls on ~~institution~~supervisory authorities to assist the remaining EU banks operating in Russia in preparing an orderly exit from the Russian market;

Amendment 84 #

Motion for a resolution
Paragraph 3

3. Calls on institutions to assist the remaining EU banks operating in Russia ~~in preparing an~~to orderly exit from the Russian market;

Amendment 85 #

Motion for a resolution
Paragraph 3

3. Calls on ~~institut~~ECB Banking Supervisions to assist the remaining EU banks operating in Russia in preparing an orderly exit from the Russian market;

Amendment 86 #

Aurore LALUCQ, Jonás FERNÁNDEZ, Pedro MARQUES, Pedro SILVA PEREIRA, Margarida MARQUES

Motion for a resolution
Paragraph 3 a (new)

3 a. Recalls that a key goal of the Banking Union 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 progress the Banking Union;

Amendment 87 #

Motion for a resolution
Paragraph 3 a (new)

3 a. Highlights that the Banking Union remains an essential complement to the Economic and Monetary Union (EMU) and therefore the internal market;

Amendment 88 #

Motion for a resolution
Paragraph 4

4. Asks the Commission to retain the completion of the BU and the Capital Markets Union as key priorities for its next mandate; highlights that both projects offer households and SMEs access to broader funding, increase financial stability, reduce the impact of economic downturns, fund the transition to a green and digital economy and unlock the EU’s growth potential;deleted

Amendment 89 #

Motion for a resolution
Paragraph 4

4. Asks the Commission to retain the completion of the ~~BU and the~~ Capital Markets Union as key priorities for its next mandate; highlights that ~~both projects offer households and SMEs access to broader funding, increas~~this can help ensure financial stability, reduce the impact of economic downturns, fund the transition to a green and digital economy and unlock the EU’'s growth potential;

Amendment 9 #

Motion for a resolution
Recital A

A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanisms, ~~needs to be supplemented by the creation of a European deposit insurance scheme (EDIS)~~and a single rule book as its foundation, ensures full alignment between supervision and management of banking crisis, is an integral part of the Union's financial stability, and guarantees in the absence of a European deposit insurance scheme (EDIS) a high minimum standard of deposit protection;

Amendment 90 #

Motion for a resolution
Paragraph 4

4. Asks the Commission to retain the completion of the BU and the Capital Markets Union as key priorities for its next mandate; highlights that both projects offer households and SMEs that are still largely reliant on bank credit to foster investments and job creation access to broader funding, increase financial stability, reduce the impact of economic downturns, ~~fund the transition to a green and digital~~support the European economy and unlock the EU’s growth potential;

Amendment 91 #

Motion for a resolution
Paragraph 4

4. Asks the Commission to retain the ~~completion~~development of the BU and the Capital Markets Union as key priorities for its next mandate; highlights that both projects offer households and SMEs access to broader funding, increase financial stability, reduce the impact of economic downturns, fund the transition to a ~~green~~sustainable and digital economy and unlock the EU’s growth potential;

Amendment 92 #

Motion for a resolution
Paragraph 4

4. Asks the Commission to retain the completion of the BU and the Capital Markets Union as key priorities now and for its next mandate; highlights that both projects offer households and SMEs access to broader funding, increase financial stability, reduce the impact of economic downturns, fund the transition to a green and digital economy and unlock the EU’s growth potential;

Amendment 93 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Considers that the doom loop between sovereigns and banks requires not only the completion of the Banking Union, but above all a change in the regulatory treatment of sovereign exposures;

Amendment 94 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Calls for the adoption of an area- wide safe asset in order to expand banks portfolios and reduce the so-called doom- loop, as well as to boost the euro’s international role;

Amendment 95 #

Motion for a resolution
Paragraph 5

5. ~~Warns that recent increases in the profitability of EU banks are not enough to ensure their competitiveness; highlights that fragmentation limits banks’ ability to undertake strategic investments~~Highlights that the private banking sector is registering significant windfall profits due to the difference between deposit facility rate (DFR) and TLTRO, as well as the severe market concentration of this sector; condemns the ECB’s position against taxing such windfall profits; stresses that a growing number of countries is taxing such windfall profits; Stresses that a growing number of countries is taxing such profits, namely Czech Republic, France, Italy, Germany, Hungary, Lithuania, Spain, Sweden and United Kingdom;

Amendment 96 #

Motion for a resolution
Paragraph 5

5. ~~Warns that recent increases in the profitability of EU banks are not enough to ensure their competitiveness; highlights~~Takes note of the EBA's statement of 13 July 2023 stating that the EU/EEA banking sector shows rising profitability, but asset quality and profitability related risks are looming; takes note of the public assessment by Andrea Enria, Chair of the Supervisory Board of the ECB in September 2023 that the fragmentation ~~limits banks’ ability to undertake strategic investments~~of the euro area banking sector along national lines is still a cause for concern;

Amendment 97 #

Gilles BOYER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 5

5. Warns that recent increases in the profitability of EU banks are not enough to ensure their competitiveness; ~~highlights that fragmentation limits banks’ ability to undertake strategic investments~~calls on EU banks to use these profits to build capital buffers; highlights that the diversity of banking business models in the euro area enhances the resilience of the financial system;

Amendment 98 #

Motion for a resolution
Paragraph 5

5. Warns that recent increases in the short-term profitability of EU banks are not enough to ensure their long-term competitiveness; highlights that fragmentation limits banks’ ability to undertake strategic investments, to deliver efficiency gains that will improve the value for money for all their customers, and to foster the development of European capital markets;

Amendment 99 #