Amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor
TA-9-2024-0363 · P9_TA(2024)0363 · PE731.818
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Parliament adopted its first-reading position on a Commission proposal to amend Regulation (EU) No 575/2013 on credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor.¶¶¶ The position corresponds to the final legislative act, Regulation (EU) 2024/1623, after agreement with the Council.¶ Parliament takes note of a Commission statement on Article 518c of Regulation (EU) No 575/2013, annexed to the resolution.¶¶ In that statement the Commission undertakes to assess the state of the Single Market for banking, including the output floor and waivers of capital and liquidity requirements, and to present a legislative proposal where appropriate.¶
Key points
- Parliament adopts its position at first reading on the proposal to amend Regulation (EU) No 575/2013 on credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor.¶¶
- The position corresponds to the final legislative act, Regulation (EU) 2024/1623, following agreement between Parliament and Council.¶
- Parliament takes note of the Commission statement annexed to the resolution, to be published in the C series of the Official Journal.¶
- The Commission statement concerns Article 1, point (253), of Regulation (EU) 2024/1623, on 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, in particular prudential requirements, the level of application of the output floor and provisions on waiver of capital and liquidity requirements.¶
- The Commission will base this assessment on inputs from the European Banking Authority and the European Central Bank/Single Supervisory Mechanism, and will consult interested parties.
- The Commission will, where appropriate, present a legislative proposal based on the report.
- Parliament calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal.¶
Who is affected
- Banks and financial institutions subject to Regulation (EU) No 575/2013, which would face amended requirements on credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor.¶¶
- The Commission, which must assess the Single Market for banking and may propose legislation.¶
- The European Banking Authority and the European Central Bank/Single Supervisory Mechanism, which will provide inputs to the Commission's assessment.
Legal basis: Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union¶