European Parliament 2019-2024

Committee on Economic and Monetary Affairs

2020/2122(INI)

27.5.2021

AMENDMENTS 1 - 80

Draft report Danuta Maria Hübner (PE658.703v01-00)

Banking Union - annual report 2020 (2020/2122(INI))

AM\1232542EN.docx PE693.617v01-00

EN United in diversityEN AM_Com_NonLegReport

PE693.617v01-00 2/35 AM\1232542EN.docx EN Amendment 1 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Citation 11 a (new)

Motion for a resolution Amendment

— having regard to the ECON Chair's letter to the President of the Eurogroup of 22 July 2020,

Or. en

Amendment 2 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Citation 20 a (new)

Motion for a resolution Amendment

— having regard to the statement agreed by the Eurogroup at its meetings of 30 November,

Or. en

Amendment 3 Danuta Maria Hübner, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Citation 29

Motion for a resolution Amendment

— having regard to the Memoranda deleted of Understanding on supervisory cooperation between the UK supervisory authorities and the EU and its Member States’ supervisory authorities,

AM\1232542EN.docx 3/35 PE693.617v01-00 EN Or. en

Amendment 4 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Citation 32 a (new)

Motion for a resolution Amendment

— having regard to the paper entitled ‘Liquidity in resolution: comparing frameworks for liquidity provision across jurisdictions’ of the ECB’s Occasional Paper Series1a, ______1a Grund, Sebastian, Nomm, Nele and Walch, Florian, ‘Liquidity in resolution: comparing frameworks for liquidity provision across jurisdictions’, Occasional Paper Series, No 251, ECB, Frankfurt am Main, December 2020, available at https://www.ecb.europa.eu/pub/pdf/scpops /ecb.op251~65a080c5b3.en.pdf

Or. en

Amendment 5 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Citation 39 a (new)

Motion for a resolution Amendment

— having regard to the Commission’s action plan “for a comprehensive Union policy on preventing money laundering and terrorism financing” published on 7 May 2020,

Or. en

PE693.617v01-00 4/35 AM\1232542EN.docx EN Amendment 6 Pedro Marques, Jonás Fernández, Pedro Silva Pereira, Paul Tang, Joachim Schuster, Margarida Marques

Motion for a resolution Citation 40 a (new)

Motion for a resolution Amendment

— having regard to the European Commission action plan for a comprehensive Union policy on preventing money laundering and terrorism financing of 7 May 202029a, ______29a https://ec.europa.eu/info/business- economy-euro/banking-and- finance/financial-supervision-and-risk- management/anti-money-laundering-and- counter-terrorist-financing_en

Or. en

Amendment 7 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Citation 43 a (new)

Motion for a resolution Amendment

— having regard to the European Court of Auditors (ECA) Special Report entitled ‘Resolution planning in the Single Resolution Mechanism’, published on 14 January 2021,

Or. en

Amendment 8 Gunnar Beck, Jörg Meuthen, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

AM\1232542EN.docx 5/35 PE693.617v01-00 EN Motion for a resolution Citation 43 a (new)

Motion for a resolution Amendment

— having regard to the answer by Commissioner Johansson to parliamentary question E-003462/2020,

Or. en

Amendment 9 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Citation 43 b (new)

Motion for a resolution Amendment

— having regard to Article 140(1) of the Treaty on the Functioning of the European Union,

Or. en

Amendment 10 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Citation 43 c (new)

Motion for a resolution Amendment

— having regard to the ECB´s Targeted Review of Internal Models, published April 2021,

Or. en

Amendment 11 Gunnar Beck, Jörg Meuthen, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel

PE693.617v01-00 6/35 AM\1232542EN.docx EN Hoogeveen

Motion for a resolution Citation 43 d (new)

Motion for a resolution Amendment

— having regard to the answer of Commission Vice-President Dombrovskis to written question E-003152/2019,

Or. en

Amendment 12 Valentino Grant, Francesca Donato, Antonio Maria Rinaldi, Marco Zanni

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas the regulatory reforms has responded to the COVID-19 pandemic enacted since the major global financial with resilience, mostly founded on the crisis have proved ineffective in regulatory reforms enacted since the combating the causes of the banking global financial crisis and further crises that have followed, and whereas supported by extraordinary public policy many of the rules were immediately relief measures and capital conservation suspended in order to allow the banking practices; system to prop up the economy during the COVID-19 pandemic;

Or. it

Amendment 13 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas overall, the banking sector has responded to the COVID-19 pandemic has responded to the COVID-19 pandemic with resilience, mostly founded on the with resilience, mostly founded on the regulatory reforms enacted since the global regulatory reforms enacted since the global

AM\1232542EN.docx 7/35 PE693.617v01-00 EN financial crisis and further supported by financial crisis and increased capital extraordinary public policy relief requirements, indicating that equity and measures and capital conservation solvency are key to tackle financial and practices; economic shocks instead of ever- increasing debt financing;

Or. en

Amendment 14 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas overall, the banking sector has responded to the COVID-19 pandemic has responded to the COVID-19 pandemic with resilience, mostly founded on the with resilience, founded on the regulatory regulatory reforms enacted since the global overhaul enacted since the global financial financial crisis and further supported by crisis, facilitated by the single European extraordinary public policy relief measures Rulebook and Single Supervision in the and capital conservation practices; Banking Union, and supported by extraordinary public policy relief measures and capital conservation practices;

Or. en

Amendment 15 Antonio Tajani, Herbert Dorfmann, Fulvio Martusciello

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas overall, the banking sector has responded to the COVID-19 pandemic has responded to the COVID-19 pandemic with resilience, mostly founded on the with resilience, also founded on the regulatory reforms enacted since the global regulatory reforms enacted since the global financial crisis and further supported by financial crisis and further supported by extraordinary public policy relief measures extraordinary public policy relief measures and capital conservation practices; and capital conservation practices;

Or. en

PE693.617v01-00 8/35 AM\1232542EN.docx EN Amendment 16 Gianna Gancia

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas overall, the banking sector has responded to the COVID-19 pandemic has responded to the COVID-19 pandemic with resilience, mostly founded on the with resilience, also founded on the regulatory reforms enacted since the global regulatory reforms enacted since the global financial crisis and further supported by financial crisis and further supported by extraordinary public policy relief measures extraordinary public policy relief measures and capital conservation practices; and capital conservation practices;

Or. en

Amendment 17 Georgios Kyrtsos

Motion for a resolution Recital A

Motion for a resolution Amendment

A. whereas overall, the banking sector A. whereas overall, with certain has responded to the COVID-19 pandemic exemptions, the banking sector has with resilience, mostly founded on the responded to the COVID-19 pandemic regulatory reforms enacted since the global with resilience, mostly founded on the financial crisis and further supported by regulatory reforms enacted since the global extraordinary public policy relief measures financial crisis and further supported by and capital conservation practices; extraordinary public policy relief measures and capital conservation practices;

Or. en

Amendment 18 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Recital A a (new)

AM\1232542EN.docx 9/35 PE693.617v01-00 EN Motion for a resolution Amendment

A a. whereas the need remains to limit the damage due to failures within the current structure of the banking system, structural reforms aimed at reducing a priori the systemic risks due to interconnections and complexity, underpinning the “too big to fail problem”, would be much more effective;

Or. en

Amendment 19 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital A a (new)

Motion for a resolution Amendment

A a. whereas the Banking Union is open to all EU Member States; whereas Bulgaria and Croatia have joined ERM II and entered the Banking Union;

Or. en

Amendment 20 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle

Motion for a resolution Recital A a (new)

Motion for a resolution Amendment

A a. whereas the Banking Union encompasses a single supervisory mechanism, a single resolution mechanism, and harmonised national deposit guarantee schemes;

Or. en

PE693.617v01-00 10/35 AM\1232542EN.docx EN Amendment 21 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García- Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital A b (new)

Motion for a resolution Amendment

A b. whereas a more stable, competitive and convergent Economic and Monetary Union requires a solid Banking Union and a more developed and safe Capital Markets Union; whereas the completion of the Banking Union would be a vital contributor to the international perception of the euro and its increased role in global markets;

Or. en

Amendment 22 Pedro Marques, Jonás Fernández, Pedro Silva Pereira, Joachim Schuster, Margarida Marques

Motion for a resolution Recital A a (new)

Motion for a resolution Amendment

A a. whereas a more stable, competitive and convergent Economic and Monetary Union requires a Banking Union with a European Deposit Insurance Scheme, a Capital Markets Union, a permanent Budgetary Instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;

Or. en

Amendment 23 Pedro Marques, Jonás Fernández, Pedro Silva Pereira, Paul Tang, Joachim Schuster,

AM\1232542EN.docx 11/35 PE693.617v01-00 EN Margarida Marques

Motion for a resolution Recital A b (new)

Motion for a resolution Amendment

A b. whereas the completion of the Banking Union is a vital contributor to the international perception of the euro and its increased role in global markets;

Or. en

Amendment 24 Danuta Maria Hübner, Inese Vaidere, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital A c (new)

Motion for a resolution Amendment

A c. whereas the Banking Union, with the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM), ensures full alignment between supervision and management of banking crisis;

Or. en

Amendment 25 Isabel Benjumea Benjumea

Motion for a resolution Recital A a (new)

Motion for a resolution Amendment

Aa. whereas the COVID-19 crisis has demonstrated that a strong banking sector, combined with unified capital markets, is vital to the recovery of the European economy; whereas the establishment of the Banking Union is

PE693.617v01-00 12/35 AM\1232542EN.docx EN essential at this time of crisis, although much progress still has to be made in the areas of integration and supervision;

Or. es

Amendment 26 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Recital B

Motion for a resolution Amendment

B. whereas the completion of the B. whereas the Banking Union Banking Union beyond its two pillars, the remains incomplete as long as it lacks a Single Supervisory Mechanism (SSM) European Deposit Insurance Scheme and the Single Resolution Mechanism (EDIS); (SRM), is pending;

Or. en

Amendment 27 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García- Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital B

Motion for a resolution Amendment

B. whereas the completion of the B. whereas the completion of the Banking Union beyond its two pillars, the Banking Union beyond its two existing Single Supervisory Mechanism (SSM) pillars remains a priority; whereas and the Single Resolution Mechanism targeted reforms in the resolution and (SRM), is pending; deposit insurance area to complete the Banking Union should further enhance the robustness of banks and safeguard overall financial stability;

Or. en

Amendment 28

AM\1232542EN.docx 13/35 PE693.617v01-00 EN Costas Mavrides, Jonás Fernández, Pedro Marques, Margarida Marques, Alfred Sant, Csaba Molnár, Joachim Schuster

Motion for a resolution Recital B a (new)

Motion for a resolution Amendment

B a. whereas both the ECB and the SRB call for the swift completion of the Banking Union namely with the establishment of the EDIS (European Deposit Insurance Scheme);

Or. en

Amendment 29 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital B a (new)

Motion for a resolution Amendment

B a. whereas the backstop for the Single Resolution Fund (SRF) will be introduced by 2022, two years earlier than previously foreseen, providing a common system-wide safety net for banks in resolution;

Or. en

Amendment 30 Danuta Maria Hübner, Lídia Pereira, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital B b (new)

Motion for a resolution Amendment

B b. whereas the EU banking sector was characterised by structural inefficiencies before the outbreak of the Covid-19 pandemic, expressed in low

PE693.617v01-00 14/35 AM\1232542EN.docx EN profitability, low cost efficiency, low interest rates, overcapacity and uncertainty of sustainability of business models;

Or. en

Amendment 31 Danuta Maria Hübner, Lídia Pereira, José Manuel García-Margallo y Marfil, Isabel Benjumea Benjumea

Motion for a resolution Recital B c (new)

Motion for a resolution Amendment

B c. whereas the shortcomings identified during the pandemic provide renewed impetus to move forward on improving crisis management, further integrating the banking sector, addressing the home-host balance and the regulatory treatment of sovereign exposures, as well as on the introduction of a European deposit insurance scheme; whereas embracing the lessons learned during the pandemic could pave the way for improved cost efficiency and more sustainable business models;

Or. en

Amendment 32 Valentino Grant, Francesca Donato, Antonio Maria Rinaldi, Marco Zanni

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to deleted the treatment of sovereign debt exposures and national options and discretions persists, undermining the European dimension of the Banking Union;

AM\1232542EN.docx 15/35 PE693.617v01-00 EN Or. it

Amendment 33 Danuta Maria Hübner, Lídia Pereira, José Manuel García-Margallo y Marfil, Isabel Benjumea Benjumea

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to C. whereas banks have been the treatment of sovereign debt exposures developing concentrated exposures toward and national options and discretions certain sovereigns but a solution to the persists, undermining the European treatment of sovereign debt exposures is dimension of the Banking Union; still to be addressed; whereas a number of national discretions within legislative framework persist, undermining the European dimension of the Banking Union;

Or. en

Amendment 34 Costas Mavrides, Jonás Fernández, Pedro Marques, Margarida Marques, Joachim Schuster

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to C. whereas in the banking prudential the treatment of sovereign debt exposures framework national options and discretions and national options and discretions persists, undermining the European persists, undermining the European dimension of the Banking Union; dimension of the Banking Union;

Or. en

Amendment 35 Gianna Gancia

Motion for a resolution Recital C

PE693.617v01-00 16/35 AM\1232542EN.docx EN Motion for a resolution Amendment

C. whereas the lack of a solution to C. whereas in the banking prudential the treatment of sovereign debt exposures framework national options and discretions and national options and discretions persists, undermining the European persists, undermining the European dimension of the Banking Union; dimension of the Banking Union;

Or. en

Amendment 36 Antonio Tajani, Herbert Dorfmann, Fulvio Martusciello

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to C. whereas in the banking prudential the treatment of sovereign debt exposures framework national options and discretions and national options and discretions persists, undermining the European persists, undermining the European dimension of the Banking Union; dimension of the Banking Union;

Or. en

Amendment 37 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to C. whereas the national options and the treatment of sovereign debt exposures discretions persist, undermining the and national options and discretions European dimension of the Banking Union; persists, undermining the European dimension of the Banking Union;

Or. en

Amendment 38

AM\1232542EN.docx 17/35 PE693.617v01-00 EN Markus Ferber

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to the C. whereas the lack of a solution to the treatment of sovereign debt exposures and treatment of sovereign debt exposures and national options and discretions persists, national options and discretions persists, undermining the European dimension of undermining the European dimension of the Banking Union; the Banking Union; points out that the rising public debt levels following the pandemic make an appropriate treatment of sovereign exposures more pressing;

Or. en

Amendment 39 Antonio Tajani, Herbert Dorfmann, Fulvio Martusciello

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to the C. whereas the lack of a solution to the treatment of sovereign debt exposures and treatment of sovereign debt exposures still national options and discretions persists, to be discussed at international level and undermining the European dimension of national options and discretions persists, the Banking Union; undermining the European dimension of the Banking Union;

Or. en

Amendment 40 Gianna Gancia

Motion for a resolution Recital C

Motion for a resolution Amendment

C. whereas the lack of a solution to the C. whereas the lack of a solution to the treatment of sovereign debt exposures and treatment of sovereign debt exposures still national options and discretions persists, to be discussed at international level and

PE693.617v01-00 18/35 AM\1232542EN.docx EN undermining the European dimension of national options and discretions persists, the Banking Union; undermining the European dimension of the Banking Union;

Or. en

Amendment 41 Pedro Marques, Jonás Fernández, Pedro Silva Pereira, Paul Tang, Joachim Schuster, Margarida Marques

Motion for a resolution Recital C a (new)

Motion for a resolution Amendment

C a. whereas more than ten years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;

Or. en

Amendment 42 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Recital C a (new)

Motion for a resolution Amendment

C a. whereas a reinforced Banking Union requires first and foremost accelerated efforts by various Member States to reduce their high levels of non- performing loans and prevent their increase in the future;

Or. en

Amendment 43 Costas Mavrides, Jonás Fernández, Margarida Marques, Csaba Molnár

Motion for a resolution

AM\1232542EN.docx 19/35 PE693.617v01-00 EN Recital C a (new)

Motion for a resolution Amendment

C a. whereas the regulatory treatment of sovereign debt exposures in the EU is in line with international standards;

Or. en

Amendment 44 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Recital C a (new)

Motion for a resolution Amendment

C a. whereas the sovereign-bank doom loop has not been properly addressed yet;

Or. en

Amendment 45 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Recital C b (new)

Motion for a resolution Amendment

C b. whereas as long as risks differ greatly between national banking systems, European Deposit Insurance Scheme would pose additional systemic risk for the Banking Union;

Or. en

Amendment 46 Isabel Benjumea Benjumea

PE693.617v01-00 20/35 AM\1232542EN.docx EN Motion for a resolution Recital D

Motion for a resolution Amendment

D. whereas climate change, D. whereas climate change, environmental degradation and the environmental degradation and the transition to a low-carbon economy bring transition to a low-carbon economy are new risks to banks’ balance sheets; factors to be taken into account when assessing the sustainability of banks’ balance sheets;

Or. es

Amendment 47 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Recital D

Motion for a resolution Amendment

D. whereas climate change, D. whereas climate change, environmental degradation and the environmental degradation, increased red transition to a low-carbon economy bring tape in the context of climate reporting for new risks to banks’ balance sheets; financial institutions, which could be referred to as "green tape", and the transition to a low-carbon economy bring new risks to banks’ balance sheets;

Or. en

Amendment 48 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, Frances Fitzgerald

Motion for a resolution Recital D

Motion for a resolution Amendment

D. whereas climate change, D. whereas climate change, environmental degradation and the environmental degradation and the transition to a low-carbon economy bring transition to a low-carbon economy bring new risks to banks’ balance sheets; new risks to banks’ balance sheets, potentially impacting investments across

AM\1232542EN.docx 21/35 PE693.617v01-00 EN regions and sectors;

Or. en

Amendment 49 Markus Ferber

Motion for a resolution Recital D

Motion for a resolution Amendment

D. whereas climate change, D. whereas climate change, environmental degradation and the environmental degradation and the transition to a low-carbon economy bring transition to a low-carbon economy bring new risks to banks’ balance sheets; new risks to banks’ balance sheets; whereas sophisticated risk models should already capture many of the risks associated with climate change;

Or. en

Amendment 50 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen, Gerolf Annemans

Motion for a resolution Recital D a (new)

Motion for a resolution Amendment

D a. Expresses deep concern about the findings of the ECB´s Targeted Review of Internal Models, published in April 2021, which shows that the biggest euro area banks have repeatedly been too optimistic in their risk-modelling, confirming longstanding suspicions among regulators and analysts that larger banks have often artificially inflated the strength of their balance sheets by underestimating the riskiness of their assets, giving them a short-term advantage over more cautious competitors; is alarmed that the Review resulted in more than 5.800 deficiencies and 253 supervisory corrections of

PE693.617v01-00 22/35 AM\1232542EN.docx EN internal models by the ECB, which pushed up the banks’ risk-weighted assets by € 275 billion, a 12 per cent increase in the models examined, which reduced their average common equity tier one ratios by 0.71 percentage points;

Or. en

Amendment 51 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García- Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital D a (new)

Motion for a resolution Amendment

D a. whereas the urge for technological transformation has accelerated, increasing the efficiency of banks and their ambition for innovation, while exposing them at the same time to the new risks and challenges of the digital finance world, cybersecurity, reputational risks, data privacy, AML risks and consumer protection;

Or. en

Amendment 52 Gunnar Beck, Jörg Meuthen, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Recital E

Motion for a resolution Amendment

E. whereas consumer protection varies E. whereas Article 169 of the TFEU across the Banking Union; states that EU measures shall not prevent any Member State from maintaining or introducing more stringent consumer protection measures provided that they are compatible with the Treaties; in this way EU law provides a common basic level of

AM\1232542EN.docx 23/35 PE693.617v01-00 EN protection to all consumers residing in the EU; recalls that there is no consistent and uniform definition of consumer protection in EU law, which justifies divergences amongst the Member States;

Or. en

Amendment 53 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital E

Motion for a resolution Amendment

E. whereas consumer protection varies E. whereas, despite strong EU across the Banking Union; consumer protection rules, national rules implementing European consumer protection requirements vary across the Banking Union, pointing to the need for harmonisation;

Or. en

Amendment 54 Costas Mavrides, Jonás Fernández, Pedro Marques, Margarida Marques, Alfred Sant, Csaba Molnár, Joachim Schuster

Motion for a resolution Recital E

Motion for a resolution Amendment

E. whereas consumer protection varies E. whereas consumer and investor across the Banking Union; protection is paramount to the deepening of the Capital Markets Union (CMU), but varies across the Banking Union;

Or. en

Amendment 55 Markus Ferber

PE693.617v01-00 24/35 AM\1232542EN.docx EN Motion for a resolution Recital E

Motion for a resolution Amendment

E. whereas consumer protection varies E. whereas consumer protection varies across the Banking Union; across the Banking Union, while the EU legislation provides a strong minimum baseline;

Or. en

Amendment 56 Pedro Marques, Jonás Fernández, Pedro Silva Pereira, Joachim Schuster, Margarida Marques

Motion for a resolution Recital E a (new)

Motion for a resolution Amendment

E a. whereas the Banking Union still lacks effective tools to tackle problems consumers are facing: artificial complexity, unfair commercial practices, exclusion of vulnerable groups from using basic services as well as limited involvement of public authorities;

Or. en

Amendment 57 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas there are still important laundering supervision is necessary; loopholes in the EU AML framework, such as the explicit exemption of the non- profit sector from anti-money laundering reporting requirements, even though

AM\1232542EN.docx 25/35 PE693.617v01-00 EN certain NGOs and other non-financial entities (NFEs) operate with larger amounts of money than numerous European banks;

Or. en

Amendment 58 Caroline Nagtegaal, Luis Garicano, Stéphanie Yon-Courtin, Gilles Boyer, Olivier Chastel, Ivars Ijabs, Engin Eroglu

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas prudential supervision is laundering supervision is necessary; necessary and the fight against fraud and anti-money laundering should be a priority;

Or. en

Amendment 59 Costas Mavrides, Jonás Fernández, Pedro Marques, Margarida Marques, Csaba Molnár, Joachim Schuster

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas fully harmonised laundering supervision is necessary; standards and institutional cooperation on the prudential aspects of anti-money laundering and anti-money laundering supervision and enforcement are necessary to protect the integrity of the EU’s financial system;

Or. en

Amendment 60 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García-

PE693.617v01-00 26/35 AM\1232542EN.docx EN Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas stronger EU prudential laundering supervision is necessary; and anti-money laundering (AML) supervision is necessary;

Or. en

Amendment 61 Kira Marie Peter-Hansen on behalf of the Verts/ALE Group

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas prudential and anti-money laundering supervision is necessary; laundering supervision is necessary and should be further strengthened;

Or. en

Amendment 62 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Recital F

Motion for a resolution Amendment

F. whereas prudential and anti-money F. whereas prudential and anti-money laundering supervision is necessary; laundering supervision is necessary and equally important;

Or. en

Amendment 63

AM\1232542EN.docx 27/35 PE693.617v01-00 EN Othmar Karas

Motion for a resolution Recital F a (new)

Motion for a resolution Amendment

F a. whereas sound global standards and principles are important for the prudential regulation of banks; whereas the standards of the Basel Committee on Banking Supervision (BCBS) should be enacted into European law in a timely fashion and with due regard for their goals, taking proper account of the specific characteristics of the European banking system, where appropriate, and the proportionality principle;

Or. en

Amendment 64 Danuta Maria Hübner, Inese Vaidere, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital F a (new)

Motion for a resolution Amendment

F a. whereas the standards of the Basel Committee on Banking Supervision can serve as a global harmonising platform for banks, they should be enacted into European law in a timely fashion and with due regard for their goals, taking proper account of the specific characteristics of the European banking system, where appropriate, and the proportionality principle;

Or. en

Amendment 65 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

PE693.617v01-00 28/35 AM\1232542EN.docx EN Motion for a resolution Recital G

Motion for a resolution Amendment

G. whereas the withdrawal of the UK G. whereas the withdrawal of the UK from the EU has resulted in the relocation from the EU has resulted in the relocation of banking services to the EU; of certain banking services to the EU;

Or. en

Amendment 66 Costas Mavrides, Pedro Marques, Margarida Marques, Csaba Molnár, Joachim Schuster

Motion for a resolution Recital G

Motion for a resolution Amendment

G. whereas the withdrawal of the UK G. whereas the withdrawal of the UK from the EU has resulted in the relocation from the EU has resulted in the relocation of banking services to the EU; of some banking services to the EU;

Or. en

Amendment 67 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García- Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital G

Motion for a resolution Amendment

G. whereas the withdrawal of the UK G. whereas the withdrawal of the UK from the EU has resulted in the relocation from the EU has resulted in the relocation of banking services to the EU; of banking services to the EU; whereas the SSM played a crucial steering and monitoring role through its systematic “preparedness” guidance and coordination with significant banks on their operating models; whereas the full assessment of effectiveness of banking sector’s preparedness to the new reality

AM\1232542EN.docx 29/35 PE693.617v01-00 EN will be tested in the mid and long term perspective;

Or. en

Amendment 68 Costas Mavrides, Pedro Marques, Margarida Marques, Alfred Sant, Csaba Molnár, Jonás Fernández

Motion for a resolution Recital H

Motion for a resolution Amendment

H. whereas the EU and the UK are H. whereas the EU and the UK are committed to maintaining regulatory and currently committed to maintaining supervisory cooperation in the field of regulatory and supervisory cooperation in financial services; the field of financial services; whereas this engagement by the UK should be kept for future relations;

Or. en

Amendment 69 Danuta Maria Hübner, Agnès Evren, Inese Vaidere, Lídia Pereira, José Manuel García- Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital I

Motion for a resolution Amendment

I. whereas the crisis management and I. whereas the crisis management and deposit insurance (CMDI) framework deposit insurance framework (CMDI) should be proportional, more efficient and should ensure consistent and efficient more coherent, and should contribute to handling of all banks, regardless of size financial stability; or business model, as well as, contribute to preserving financial stability, minimising the use of taxpayers’ money and ensuring a level playing field across the EU;

Or. en

Amendment 70

PE693.617v01-00 30/35 AM\1232542EN.docx EN Markus Ferber

Motion for a resolution Recital I

Motion for a resolution Amendment

I. whereas the crisis management and I. whereas the crisis management and deposit insurance (CMDI) framework deposit insurance (CMDI) framework should be proportional, more efficient and should be proportionate, more efficient more coherent, and should contribute to and more coherent, and should contribute financial stability; to financial stability, while duly taking into account the principle of subsidiarity;

Or. en

Amendment 71 Gilles Boyer, Stéphanie Yon-Courtin, Olivier Chastel, Luis Garicano, Caroline Nagtegaal

Motion for a resolution Recital I

Motion for a resolution Amendment

I. whereas the crisis management and I. whereas the crisis management and deposit insurance (CMDI) framework deposit insurance (CMDI) framework should be proportional, more efficient and should be proportional, more efficient and more coherent, and should contribute to more coherent, and should contribute to financial stability; financial stability, the end of implicit guarantees and the protection of taxpayers;

Or. en

Amendment 72 Markus Ferber

Motion for a resolution Recital I a (new)

Motion for a resolution Amendment

I a. whereas the crisis management and deposit insurance framework aim at introducing market discipline and

AM\1232542EN.docx 31/35 PE693.617v01-00 EN protecting the tax payer;

Or. en

Amendment 73 Danuta Maria Hübner, Inese Vaidere, Frances Fitzgerald

Motion for a resolution Recital I a (new)

Motion for a resolution Amendment

I a. whereas the current crisis management framework does not ensure a consistent approach in handling distressed banks across Member States, due to, inter alia, different interpretation of the Public Interest Assessment (PIA) by the SRB and National Resolution authorities outside the Banking Union, availability under national insolvency proceedings of tools that are similar to the resolution tools under BRRD and SRMR and the misalignment of incentives when choosing the solution for addressing a bank’s failure as a result of the different conditions for accessing the funding sources available in resolution and in insolvency;

Or. en

Amendment 74 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Recital I a (new)

Motion for a resolution Amendment

I a. whereas the sound public finances are necessary condition for the macro- financial stability of the Banking Union;

Or. en

PE693.617v01-00 32/35 AM\1232542EN.docx EN Amendment 75 Gunnar Beck, Jörg Meuthen, Jessica Stegrud, Jaak Madison, Roman Haider, Laura Huhtasaari, Michiel Hoogeveen

Motion for a resolution Recital J

Motion for a resolution Amendment

J. whereas depositors across the J. whereas depositors across the Banking Union should enjoy the same Banking Union are exposed to varying level of protection; levels of credit, market and operational risk, which justifies varying levels of protection;

Or. en

Amendment 76 Costas Mavrides, Jonás Fernández, Pedro Marques, Margarida Marques, Csaba Molnár, Joachim Schuster

Motion for a resolution Recital J

Motion for a resolution Amendment

J. whereas depositors across the J. whereas depositors across the Banking Union should enjoy the same Banking Union must enjoy the same level level of protection; of protection;

Or. en

Amendment 77 Danuta Maria Hübner, Inese Vaidere, Lídia Pereira, José Manuel García-Margallo y Marfil, Frances Fitzgerald, Isabel Benjumea Benjumea

Motion for a resolution Recital J

Motion for a resolution Amendment

J. whereas depositors across the J. whereas supervision and Banking Union should enjoy the same resolution rules, as well as the resolution level of protection; fund have been centralized, deposit guarantees schemes remain national and

AM\1232542EN.docx 33/35 PE693.617v01-00 EN differ across Member States; whereas depositors across the Banking Union should enjoy the same level of protection;

Or. en

Amendment 78 Markus Ferber

Motion for a resolution Recital J

Motion for a resolution Amendment

J. whereas depositors across the J. whereas depositors across the Banking Union should enjoy the same Banking Union should enjoy the same level of protection; level of protection; whereas the provisions in the DGSD provide for a very high minimum baseline of protection of depositors;

Or. en

Amendment 79 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

Motion for a resolution Recital J a (new)

Motion for a resolution Amendment

J a. whereas the near zero interest rates greatly reduce the profitability of banks in one of their most important areas of business activity, the provision of credit for long-term investments;

Or. en

Amendment 80 Eugen Jurzyca, Johan Van Overtveldt, Michiel Hoogeveen, Bogdan Rzońca, Roberts Zīle, Jessica Stegrud

PE693.617v01-00 34/35 AM\1232542EN.docx EN Motion for a resolution Recital J b (new)

Motion for a resolution Amendment

J b. whereas the stability of financial institutions in the Banking Union is still a matter of grave concern; whereas the economic downturn will lead to an increase in non-performing loans;

Or. en

AM\1232542EN.docx 35/35 PE693.617v01-00 EN