WRITTEN QUESTION E-0760/04 by José García-Margallo y Marfil (PPE-DE) to the Commission. Implementation of the financial services action plan (FSAP) in the new Member States.
Date: 2004-03-11
Institutions: European Parliament, Provisional data
Subjects: accession to the European Union, action programme, application of EU law, banking, credit guarantee, credit institution, transitional period (EU)

8.4.2004

EN

Official Journal of the European Union

C 88 E/529

(2004/C 88 E/0542)

WRITTEN QUESTION E-0760/04

by José García-Margallo y Marfil (PPE-DE) to the Commission

(11 March 2004)

Subject: Implementation of the financial services action plan (FSAP) in the new Member States

Does the Commission envisage flanking measures for implementing the financial services action plan in
the accession countries, which were basically not involved in drafting the main directives introduced by
the FSAP?

Answer given by Mr Verheugen on behalf of the Commission

(21 April 2004)

The measures of the Financial Services Action Plan (FSAP) which have an implementation deadline before
1 May 2004 will form part of the ‘acquis’ which all Acceding Countries will need to take over and
implement from the date of accession.

Where implementation deadlines of FSAP measures are later than May 2004, the later deadline will also
apply to Acceding Countries. To be fully informed about these measures, delegates from the Acceding
Countries have been included as observers in all relevant preparatory and regulatory institutional
committees over the last year (2003).

The Commission recalls that the Act of Accession foresees transitional measures (cid:1) limited in scope and
time (cid:1) for specific Directives in the financial services sector. These transitional measures apply to the local
market;
it will not be possible to benefit from direct access to the European Internal Market while
complying with less strict regulations. All transitional measures will end by the end of 2007 at the latest.
The measures concern: the minimum capital requirement for co-operative credit institutions under the
Banking Directive (1) (involving Cyprus, Hungary, Poland and Slovenia); and the Deposit Guarantee and
Investor Compensation Schemes (2) (involving Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia).

Finally, the Commission has for some time maintained an intensive dialogue with Acceding Countries in
the field of financial services, notably by means of peer reviews carried out by experts from the EU15. This
has led to recommendations and action plans being drawn up by the Acceding Countries to ensure
effective implementation of the ‘acquis’ in this field, including FSAP measures already adopted.

(1) Directive 2000/12/EC of the Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit

of the business of credit institutions, OJ L 126, 26.5.2000.

(2) Directive 94/19/EC of the Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes, OJ L 135,

31.5.1994.

(2004/C 88 E/0543)

WRITTEN QUESTION E-0772/04

by Maurizio Turco (NI) to the Commission

(11 March 2004)

Subject: Violation of religious freedom in Austria

In view of the following:

(cid:1) Article 6 of the EU Treaty

(cid:1) Articles 10, 22 and 52 of the Charter of Fundamental Rights of the EU;