27. Takes the view that, for reasons of competitive equality, all credit institutions, regardless of their
legal form, must be allowed to procure original own funds via third parties, so long as the funds so
acquired are permanent, able to absorb losses and cannot be withdrawn by the third party;
28. Demands that every effort be made to ensure that the new rules do not make it more difficult for
SMEs to obtain loan finance, whilst acknowledging that capital adequacy rules must be designed to protect
savers and minimise systemic risk and are therefore too blunt an instrument to deal directly or compre-hensively with SME finance, which should be addressed through measures to promote risk capital; in any
event, believes that, while high risk ventures may in future be subject to a higher capital charge, which
may be reflected in the cost of loan finance, most low, medium or moderately high risk ventures (making
up a majority of SMEs) should find it easier to obtain finance through the new rules, notably through the
wider recognition of collateral (including mortgage collateral);
29. Recognises not only the vital importance of rapid implementation of the new regulatory capital
framework, but also the need for flexibility and keeping the legislation up to date; is prepared to considerproposals to review the legislative process to facilitate flexibility, rapid implementation and updating of
legislation on the new regulatory capital framework; recalls, in this respect, the joint declaration signed
by Parliament, Council and Commission on the codecision procedure, committing all three institutions to
cooperate in good faith with a view to reconciling their positions as far as possible so that wherever
possible acts can be adopted at first reading; is prepared to consider new proposals for a future revision
of this joint declaration in order to speed up further the codecision procedures in formulating and updat-
ing legislation;
30. Calls upon Parliament, Commission and Council to cooperate and consult formally and informally
at the earliest stages of the legislative process, and show the political will to agree on the broad principles,
in order to enable the legislative changes required to be adopted as quickly as possible, preferably at first
reading;
31. Emphasises the importance of maintaining competitive equality between the USand EU banking
and investment firms and urges the Commission and the Member States to press for a moratorium on
the implementation of the revised Accord for an agreed period of time, to allow Basel Committee memberstime to adopt implementing legislation and enable the Accord to enter into force on the same day in all
countries;
32. Welcomes the Commission’s invitation to establish a ‘2005 Group’ of representatives of the Com-
mission, Parliament and Council in order to oversee and facilitate the timely implementation of the Finan-cial Services Action Plan; calls on the Group to consider options for faster enactment of the Action Planincluding the new Basel Accord, and to present options to be considered by the European Parliament
within six months of the adoption of this resolution;
33. Instructs its President to forward this resolution to the Council and Commission.
2. Ombudsman
A5-0293/2000
European Parliament resolution on the modification of the European Parliament’s decision of
9 March 1994 on the regulations and general conditions governing the performance of the
Ombudsman’s duties
The European Parliament,
Udash having regard to the Treaty establishing the European Community and in particular Articles 21, 195
and 279 thereof, and also Article 20d of the ECSC Treaty and Article 107d of the EAEC Treaty,
Udash having regard to its Decision 94/262/ECSC, EC, Euratom of 9 March 1994 on the regulations and
general conditions governing the performance of the Ombudsman’s duties(1),
(1) OJ L 113, 4.5.1994, p. 15.C 223/366 EN 8.8.2001 Official Journal of the European Communities
Friday 17 November 2000
Udash having regard to the budget conciliation meeting of 26/27 November 1999 at which a specific section
for the European Ombudsman was established within the EU general budget,
Udash having regard to Council Regulation (EC, ECSC, Euratom) No 2673/1999 of 13 December 1999
amending the Financial Regulation of 21 December 1977 applicable to the general budget of the
European Communities(1),
Udash having regard to the interinstitutional agreement of 22 December 1998 on common guidelines for the
quality of drafting of Community legislation(2),
Udash having regard to the report of the Committee on Constitutional Affairs and the opinions of the Com-
mittee on Budgets and the Committee on Petitions (A5-0293/2000),
A. whereas, pursuant to Article 195(3) of the EC Treaty, the Ombudsman is completely independent in
the performance of his duties,
B. whereas, pursuant to Article 22(5) of the Financial Regulation, the Ombudsman is treated as an insti-
tution for the purposes of that regulation,
C. whereas Regulation (EC) No 2673/1999 created a specific section for the Ombudsman within the EU
general budget and adjusted the provisions of the Financial Regulation which relate to the Ombuds-
man,
D. whereas the change made to the nomenclature of the general budget in order to implement the
amendments made to the Financial Regulation applies to the 2000 budgetary year,
E. whereas the decision on the regulations and general conditions governing the performance of the
Ombudsman’s duties must therefore be brought into line with the amendment made to the Financial
Regulation,
1. Proposes that Articles 12 and 16 of Decision 94/262/ECSC, EC, Euratom be deleted;
2. Instructs its President to forward this resolution to the Council and the Commission in accordance
with the procedure referred to in Article 195(4) of the EC Treaty and to publish, in the Official Journal , the
European Parliament’s decision on amendment of the regulations and general conditions governing perfor-mance of the Ombudsman’s duties, as soon as the Council has given its final approval.
(1) OJ L 326, 18.12.1999, p. 1.
(2) OJ C 73, 17.3.1999, p. 1.
ANNEX
DRAFT EUROPEAN PARLIAMENT DECISION
ON THE REGULATIONS AND GENERAL CONDTIONS GOVERNING
THE PERFORMANCE OF THE OMBUDSMAN’S DUTIES
(Amendment 1)
Article 12
Article 12 Deleted
The Ombudsman’s budget shall be annexed to section I(Parliament) of the
general budget of the European Communities.
(Amendment 2)
Article 16
Article 12 Deleted
The European Parliament shall make provision in its budget for the staff and
material facilities required by the first Ombudsman to perform his duties as
soon as he is appointed.8.8.2001 EN C 223/367 Official Journal of the European Communities
Friday 17 November 2000