Amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor

Committee on Economic and Monetary Affairs

European Parliament legislative resolution of 24 April 2024 on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor (COM(2021)0664 – C9-0397/2021 – 2021/0342(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

–having regard to the Commission proposal to Parliament and the Council (COM(2021)0664),

–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 (C90397/2021),

–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 24 March 2022,

–having regard to the opinion of the European Economic and Social Committee of 23 March 2022,

–having regard to the provisional agreement approved by the committee responsible under Rule 74(4) of its Rules of Procedure and the undertaking given by the Council representative by letter of 6 December 2023 to approve Parliament’s position, in accordance with Article 294(4) of the Treaty on the Functioning of the European Union,

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

–having regard to the report of the Committee on Economic and Monetary Affairs (A9-0030/2023),

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

2.Takes note of the statement by the Commission annexed to this resolution, which will be published in the C series of the Official Journal of the European Union;

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

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

P9_TC1-COD(2021)0342

Position of the European Parliament adopted at first reading on 24 April 2024 with a view to the adoption of Regulation (EU) 2024/… of the European Parliament and of the Council amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor

(As an agreement was reached between Parliament and Council, Parliament's position corresponds to the final legislative act, Regulation (EU) 2024/1623.)

ANNEX TO THE LEGISLATIVE RESOLUTION

Statement by the Commission with respect to Article 1, point (253), of Regulation (EU) 2024/1623 of the European Parliament and of the Council concerning Article 518c of Regulation (EU) No 575/2013

The Commission undertakes to carry out a fair and balanced assessment of the state of the Single Market for banking, taking into consideration in particular prudential requirements, including the level of application of the output floor and the provisions on the waiver of capital and liquidity requirements. It will carry out this mandate based on inputs from the European Banking Authority and from the European Central Bank/Single Supervisory Mechanism, and will consult with interested parties to ensure that the various perspectives are appropriately considered. The Commission will, where appropriate, present a legislative proposal based on the report.