Changes from report parliamentary committee draft to report parliamentary committee draft

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

Changedon the proposalCouncil forposition at first reading with a view to the adoption of a directive of the European Parliament and of the Council amending Directive 2014/59/EU as regards early intervention measures, conditions for resolution and financingfunding of resolution action and Directive 2014/24/EU as regards valuation services in resolution

Changed(COM(2023)0227(15445/1/25 – C90135/2023 – 2023/0112(COD))

Changed(Ordinary legislative procedure: firstsecond reading)

The European Parliament,

Changed– having regard to the CommissionCouncil proposalposition toat Parliamentfirst andreading the(15445/1/25 Council– (COM(2023)0227),C90135/2023),

Removed– having regard to Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C90135/2023),

Removed– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

– having regard to the opinion of the European Central Bank of 5 July 2023,

– having regard to the opinion of the European Economic and Social Committee of 13 July 2023,

Removed– having regard to Rule 59 of its Rules of Procedure,

Added– having regard to its position at first reading on the Commission proposal to Parliament and the Council (COM(2023)0227),

Changed– having regard to theArticle report294(7) of the CommitteeTreaty on Economicthe andFunctioning Monetaryof Affairsthe (A90000/2023),European Union,

Change 1

Removed1. Adopts its position at first reading hereinafter set out;

Added– having regard to the provisional agreement approved by the committee responsible under Rule 75(4) of its Rules of Procedure,

Removed2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

Added– having regard to Rule 68 of its Rules of Procedure,

Added– having regard to the recommendation for second reading of the Committee on Economic and Monetary Affairs (A100000/2026),

Added1. Approves the Council position at first reading;

Added2. Notes that the act is adopted in accordance with the Council position;

Added3. Instructs its President to sign the act with the President of the Council, in accordance with Article 297(1) of the Treaty on the Functioning of the European Union

Added4. Instructs its Secretary-General to sign the act, once it has been verified that all the procedures have been duly completed, and, in agreement with the Secretary-General of the Council, to arrange for its publication in the Official Journal of the European Union;

5. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

Change 2

RemovedRecital 2 a (new): (2a) The objective of this Directive is to better safeguard taxpayers’ money and establish new systemic mechanisms for addressing situations of potential insolvency of some financial institutions not covered by the existing resolution framework. That framework is designed to curtail the economic burden on society by reducing the overall costs associated with bank failures. The use of taxpayers’ money should, with the introduction of a new framework, be significantly reduced in order to ensure that the resolution financing arrangement is more often and more effectively used.