Banking Structural Reform State of play DG FISMA Unit D2 11 May, 2015 Brussels
Objectives Address remaining risk of "Too big to fail" banks doing substantial trading Complement already existing reforms (BRRD, CRD IV,…) Enhance the financial stability throughout the European Union by limiting excessive risk building in large, complex, trading banks Put the foundations for more sustainable lending patterns.
The Commission proposal Point of departure: High Level Expert Group Liikaanen Adopted: 29 January last piece of the package of financial regulatory reform measures Main elements of the proposal: Scope PT Ban Separation of "trading activities" Derogation Competent authorities
State of play of the negotiation Council 14 Council Working Groups Emerging "compromise text" Presidency wants to achieve a common approach by June 2015 De vertegenwoordiger van House of Commons vroeg hoe realistisch het is dat de Raad in juni een gezamenlijk standpunt bereikt. De presentator gaf aan dat het nu haalbaar lijkt, maar het afhangt van komende onderhandelingen. COM supports the efforts to find an agreement Parliament Rapporteur Gunnar Hökmark (PPE/SE)- draft report January 2015 Over 700 amendments -divergent positions Vote in ECON -26 th May Vote in Plenary - July.
Main areas of discussion (het betreft discussie in het EP én de Raad) Proprietary trading; de discussie gaat vooral over het aanhouden van een smalle of brede definitie. Degree of the supervisory discretion in the separation process and its framing; Separation of trading activities; Specific treatment of certain trading activities – market making, high quality securitisations; Powers of the home and host supervisory authorities; in het oorspronkelijke voorstel van de EC krijgen ‘home supervisory authorities’ veel macht, terwijl de Raad ‘hosting supervisory authorities’ meer macht wil geven. How to find a pragmatic EU solution to preserve the Vickers reform in the UK.