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Having regard to the proposal from the Commission, - page 7 / 23

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17.11.2009

EN

Official Journal of the European Union

L 302/103

Article 42b

7.

Article 57 is amended as follows:

1.

In the exercise of their duties, the competent authori­

(a) point (a) is replaced by the following:

ties shall take into account the convergence in respect of supervisory tools and supervisory practices in the application of the laws, regulations and administrative requirements adopted pursuant to this Directive. For that purpose, Mem­

ber States shall ensure that:

  • (a)

    the competent authorities participate in the activities of the Committee of European Banking Supervisors;

  • (b)

    the competent authorities follow the guidelines, recom­ mendations, standards and other measures agreed by the Committee of European Banking Supervisors and shall state the reasons if they do not do so;

  • (c)

    national mandates conferred on the competent authori­ ties do not inhibit the performance by them of their duties as members of the Committee of European Bank­ ing Supervisors or under this Directive.

    • 2.

      The Committee of European Banking Supervisors shall

report to the European Parliament, the Council and the Com­ mission on the progress made towards supervisory conver­ gence every year starting from 1 January 2011.’;

  • 5.

    Article 49 is amended as follows:

    • (a)

      in the first paragraph, point (a) is replaced by the following:

‘(a) central banks of the European system of the central banks and other bodies with a similar function in their capacity as monetary authorities when this information is relevant for the exercise of their respective statutory tasks, including the conduct of monetary policy and related liquidity provision, oversight of payments, clearing and settlement sys­ tems, and the safeguarding of stability of the finan­ cial system’;

8.

9.

‘(a) capital within the meaning of Article 22 of Direc­ tive 86/635/EEC, in so far as it has been paid up, plus the related share premium accounts, it fully absorbs losses in going concern situations, and in the event of bankruptcy or liquidation ranks after all other claims;’;

(b) the following point is inserted:

‘(ca) instruments other than those referred to in point (a), which meet the requirements set out in points (a), (c), (d) and (e) of Article 63(2) and in Article 63a;’;

(c) the third paragraph is replaced by the following:

‘For the purposes of point (b), the Member States shall permit inclusion of interim or year-end profits before a formal decision has been taken only if these profits have been verified by persons responsible for the auditing of the accounts and if it is proved to the satisfaction of the competent authorities that the amount thereof has been evaluated in accordance with the principles set out in Directive 86/635/EEC and is net of any foreseeable charge or dividend.’;

the first paragraph of Article 61 is replaced by the following:

‘The concept of own funds as defined in Article 57(a) to (h) embodies a maximum number of items and amounts. Mem­ ber States may decide on the use of those items and on the deduction of items other than those listed in Article 57(i) to (r).’;

in Article 63(2), the following subparagraph is added:

‘Instruments referred to in Article 57(ca) shall comply with the requirements set out in points (a), (c), (d) and (e) of this Article.’;

6.

(b) the following paragraph is added:

‘In an emergency situation as referred to in Article 130(1), Member States shall allow competent authorities to communicate information to the central banks of the European system of the central banks when this information is relevant for the exercise of their statu­ tory tasks, including the conduct of monetary policy and related liquidity provision, the oversight of payments, clearing and settlement systems, and safeguarding the stability of the financial system.’;

in Article 50, the following paragraph is added:

‘In an emergency situation as referred to in Article 130(1), Member States shall allow competent authorities to disclose information which is relevant to the departments referred to in the first paragraph of this Article in all Member States concerned.’;

  • 10.

    the following Article is inserted: ‘Article 63a

    • 1.

      Instruments referred to in Article 57(ca) shall comply

with the requirements set out in paragraphs 2 to 5 of this Article.

2.

The instruments shall be undated or have an original

maturity of at least 30 years. The instruments may include one or more call options at the sole discretion of the issuer, but they shall not be redeemed before five years after the date of issue. If the provisions governing undated instruments provide for a moderate incentive for the credit institution to redeem as determined by the competent authorities, such incentive shall not occur within 10 years of the date of issue. The provisions governing dated instruments shall not permit an incentive to redeem on a date other than the maturity

date.

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