Changes from report parliamentary committee draft to plenary report

Added(a) the title is replaced by the following:

Added‘Obligation to cooperate and information exchange’;

Added(b) the following paragraphs 2a, 2b and 2c are inserted:

Added‘2a. The Board, the ESRB, the EBA, ESMA and EIOPA shall cooperate closely and provide each other with all information necessary for the performance of their respective tasks.

Added2b. The ECB and other members of the European System of Central Banks (ESCB) shall cooperate closely with the Board and provide it with all information necessary for the performance of the Board’s tasks, including information collected by them in accordance with their statute. Article 88(6) shall apply to the exchanges concerned.

Added2c. The designated authorities referred to in Article 2(1), point (18), of Directive 2014/49/EU shall cooperate closely with the Board. The designated authorities and the Board shall provide each other with all information necessary to the performance of their respective tasks.’;

Added(c) paragraph 6 is replaced by the following:

Added‘6. The Board shall endeavour to cooperate closely with any public financial assistance facility, including the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM), in particular in all of the following situations:

Added(a) in the extraordinary circumstances referred to in Article 27(9) and where such a facility has granted, or is likely to grant, direct or indirect financial assistance to entities established in a participating Member State;

Added(b) where the Board has contracted for the Fund a financial arrangement pursuant to Article 74.’;

Added(d) paragraph 7 is replaced by the following:

Added‘7. Where necessary, the Board shall conclude a memorandum of understanding with the ECB and other members of the ESCB, the national resolution authorities and the national competent authorities describing in general terms how they will cooperate under paragraphs 2, 2a, 2b and 4 of this Article and under Article 74, second paragraph, in the performance of their respective tasks under Union law. The memorandum shall be reviewed on a regular basis and shall be published subject to the requirements of professional secrecy.’;

Added(26) the following Article is inserted:

Added‘Article 30a

AddedInformation held by centralised automated mechanism

Added1. The authorities operating the centralised automated mechanisms established by Article 32a of Directive (EU) 2015/849 of the European Parliament and of the Council** shall provide the Board, upon its request, with information related to the number of customers for which an entity as referred to in Article 2 is the only or principal banking partner.

Added2. The Board shall request the information referred to in paragraph 1 only on a case-by-case basis and where necessary for the purpose of performing its tasks under this Regulation.

Added3. The Board may share the information obtained pursuant to the first paragraph with national resolution authorities in the context of the performance of their respective tasks under this Regulation.

Added______________________________

Added** Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).’;

Added(27) ▌Article 31 is amended as follows:

Added(a) in paragraph 1, the third subparagraph is replaced by the following:

Added‘Cooperation regarding information sharing shall be conducted in accordance with Article 11 and Article 13(1) of Directive 2014/59/EU, without prejudice to Chapter 5 of this Title. In that framework and for the purposes of evaluating resolution plans, the Board:

Added(a) may request national resolution authorities to submit to the Board all information necessary, as obtained by them;

Added(b) shall, upon the request of a national resolution authority of a participating Member State, provide that authority with any information that is necessary for the performance of that authority’s tasks under this Regulation.’

Added(b) the following paragraph is added:

Added‘3. For the entities and groups referred to in Article 7(2), and for the entities and groups referred to in Article 7(4), point (b) and Article 7(5) where the conditions for the application of those provisions are met, national resolution authorities shall consult the Board before acting under Article 86 of Directive 2014/59/EU.’;

Added(28) in Article 32(1), the first subparagraph is replaced by the following:

Added‘Where a group includes entities established in participating Member States as well as in in non-participating Member States or third countries, without prejudice to any approval by the Council or the Commission required under this Regulation, the Board shall represent the national resolution authorities of the participating Member States for the purposes of consultation and cooperation with non-participating Member States or third countries in accordance with Articles 7, 8, 12, 13, 16, 18, 45h, 55, and 88 to 92 of Directive 2014/59/EU.’;

Added(29) Article 34 is amended as follows:

Added(a) in paragraph 1, the introductory wording is replaced by the following:

Added‘The Board may, making full use of all of the information which is already available to the ECB, including information collected by the members of the ESCB in accordance with their statute, or of all the information available to the national competent authorities, to the ESRB, the EBA, ESMA or EIOPA, require, through the national resolution authorities or directly, after having informed those authorities, the following legal or natural persons to provide it with all the information necessary, in accordance with the procedure requested by the Board and in the form requested by the Board, to perform its tasks:’;

Added(b) paragraphs 5 and 6 are replaced by the following:

Added‘5. The Board, the ECB, the members of the ESCB, the national competent authorities, the ESRB, the EBA, ESMA, EIOPA and the national resolution authorities may draw up memoranda of understanding setting out a procedure governing the exchange of information. The exchange of information between the Board, the ECB and other members of the ESCB, the national competent authorities, the ESRB, the EBA, ESMA, EIOPA and the national resolution authorities shall not be deemed to infringe the requirements of professional secrecy.

Added6. National competent authorities, the ECB, members of the ESCB, the ESRB, the EBA, ESMA, EIOPA, and the national resolution authorities shall cooperate with the Board to verify whether some or all of the information requested is already available at the time the request is made. Where such information is available, the national competent authorities, the ECB and other members of the ESCB, the ESRB, the EBA, ESMA, EIOPA, or the national resolution authorities shall provide that information to the Board.’;

Added(30) in Article 43(1), the following point (aa) is inserted:

Added‘(aa) the Vice-Chair appointed in accordance with Article 56;’;

Added(30a) Article 45 is amended as follows:

Added(a) the title is replaced by the following:

Added‘Transparency and accountability’;

Added(b) the following paragraph is inserted:

Added‘3a. The Board shall publish its policies, guidelines, general instructions, guidance notes and staff working papers on resolution in general and on the resolution practices and methodologies to be applied within the Single Resolution Mechanism, as long as such publication does not entail the disclosure of confidential information.’

Added(31) in Article 50(1), point (n) is replaced by the following:

Added‘(n) appoint an Accounting Officer and an Internal Auditor, subject to the Staff Regulations and the Conditions of Employment, who shall be functionally independent in the performance of their duties;’;

Added(31a) in Article 50(1), the following point is added:

Added‘(qa) ensure that national resolution authorities are consulted on the guidelines, general instructions, policies or guidance notes establishing resolution policies, practices or resolution methodologies that those national resolution authorities will contribute to implementing.’;

Added(32) Article 53 is amended as follows:

Added(a) in paragraph 1, the first sentence is replaced by the following:

Added‘The Board in its executive session shall be composed of the Chair, the Vice-Chair and the four members referred to in Article 43(1), point (b).’;

Added(b) in paragraph 5, the words ‘Article 43(1)(a) and (b)’ are replaced by the words ‘Article 43(1), points (a), (aa) and (b)’.;

Added(33) in Article 55, paragraphs 1 and 2 are replaced by the following:

Added‘1. When deliberating on an individual entity or a group established in only one participating Member State, if all members referred to in Article 53(1) and (3) are not able to reach a joint agreement by consensus within a deadline set by the Chair, the Chair, the Vice-Chair and the members referred to in Article 43(1), point (b), shall take a decision by a simple majority.

Added2. When deliberating on a cross-border group, if all members referred to in Article 53(1) and (4) are not able to reach a joint agreement by consensus within a deadline set by the Chair, the Chair, the Vice-Chair and the members referred to in Article 43(1), point (b), shall take a decision by a simple majority.’;

Added(34) Article 56 is amended as follows:

Added(a) in paragraph 2, point (d) is replaced by the following:

Added‘(d) the establishment of a preliminary draft budget and a draft budget of the Board, in accordance with Article 61, and the implementation of the budget of the Board, in accordance with Article 63;’;

Added(b) in paragraph 5, the first subparagraph is replaced by the following:

Added‘The term of office of the Chair, of the Vice-Chair and of the members referred to in Article 43(1), point (b), shall be five years. ▌

AddedA person who has served ▌as the Chair, the Vice-Chair or a member referred to in Article 43(1), point (b), shall not be eligible for appointment to any of the other two positions.’;

Added(c) ▌paragraph 6 ▌is replaced by the following: