P8_TA(2019)0432 Covered bonds and covered bond public supervision ***I European Parliament legislative resolution of 18 April 2019 on the proposal for a directive of the European Parliament and of the Council on the issue of covered bonds and covered bond public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU (COM(2018)0094 — C8-0113/2018 — 2018/0043(COD)) P8_TC1-COD(2018)0043 Position of the European Parliament adopted at first reading on 18 April 2019 with a view to the adoption of Directive (EU) 2019/… of the European Parliament and of the Council on the issue of covered bonds and covered bond public supervision and amending Directives 2009/65/EC and 2014/59/EU
Date: 2019-04-18
Institutions: Committee on Economic and Monetary Affairs, Committee on Legal Affairs, European Parliament
Subjects: bond, capital market, credit institution, financial legislation, financial supervision, investment, investment company, issue of securities, money-market liquidity, mortgage bank








C_2021158EN.01100201.xml










30.4.2021   


EN


Official Journal of the European Union


C 158/1002






P8_TA(2019)0432
Covered bonds and covered bond public supervision ***I
European Parliament legislative resolution of 18 April 2019 on the proposal for a directive of the European Parliament and of the Council on the issue of covered bonds and covered bond public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU (COM(2018)0094 — C8-0113/2018 — 2018/0043(COD))
(Ordinary legislative procedure: first reading)
(2021/C 158/76)

The European Parliament,






—


having regard to the Commission proposal to Parliament and the Council (COM(2018)0094),










—


having regard to Article 294(2) and Articles 53 and 114 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C8-0113/2018),










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having regard to the opinion of the Committee on Legal Affairs on the proposed legal basis,










—


having regard to Article 294(3) and Article 114 of the Treaty on the Functioning of the European Union,










—


having regard to the opinion of the European Economic and Social Committee of 11 July 2018 (1),










—


having regard to the provisional agreement approved by the committee responsible under Rule 69f(4) of its Rules of Procedure and the undertaking given by the Council representative by letter of 20 March 2019 to approve Parliament’s position, in accordance with Article 294(4) of the Treaty on the Functioning of the European Union,










—


having regard to Rules 59 and 39 of its Rules of Procedure,










—


having regard to the report of the Committee on Economic and Monetary Affairs (A8-0390/2018),












1.


Adopts its position at first reading hereinafter set out;












2.


Takes note of the statement by the Commission annexed to this resolution;












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.






(1)  OJ C 367, 10.10.2018, p. 56.




P8_TC1-COD(2018)0043
Position of the European Parliament adopted at first reading on 18 April 2019 with a view to the adoption of Directive (EU) 2019/… of the European Parliament and of the Council on the issue of covered bonds and covered bond public supervision and amending Directives 2009/65/EC and 2014/59/EU

(As an agreement was reached between Parliament and Council, Parliament's position corresponds to the final legislative act, Directive (EU) 2019/2162.)






ANNEX TO THE LEGISLATIVE RESOLUTION

Statement on change of Delegated Regulation (EU) 2015/61 with regard to liquidity coverage requirements for credit institutions

The requirements for a dedicated liquidity buffer for covered bonds set out in Article 16 of the proposal for [a Directive of the European Parliament and of the Council on the issue of covered bonds and covered bond public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU] may result in an overlap with the requirements for credit institutions to maintain a general liquidity buffer, as set out in Delegated Regulation (EU) 2015/61.
In order to address this overlap and to ensure, at the same time, that a dedicated liquidity buffer for covered bonds is applied also during the period covered by the Liquidity Coverage Ratio (LCR), the Commission is willing to amend Delegated Regulation (EU) 2015/61 in order to cater for the specific situation of covered bonds. Such amendment should be adopted in time for it to be able to enter into force before the date of application of the Directive on the issue of covered bonds and covered bond supervision.