Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-052-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Supplementary supervision of financial entities in a financial conglomerate (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20110704.20.1-052-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-053-0002
lpv:speaker	lp:Sharon Bowles2
lpv:spoken text	"Madam President, a key feature in the supervision of conglomerates is ensuring that there is avoidance of regulatory repetition, but it is also important to have a level playing field as viewed from the separate sectoral companies with which they compete. This underlines several of the amendments that have been made, and there is the specific point included that all risks are incorporated while eliminating supervisory and prudential overlaps. As Mr Skinner just mentioned, correlation tables are included. Happily, all institutions finally agreed on them being necessary in this instance, because it gets complicated fitting it in to all the other legislation. But, more generally, I reinforce that correlation tables are vital as part of the European supervisory architecture. In the interinstitutional agreement I think we might also have to look at sector-by-sector as well as case-by-case exemptions from whatever is agreed. Inclusion of uniform reporting formats, frequency and dates within two years of adoption of implementing technical standards has also been agreed and will make supervision easier. As has been mentioned, stress tests are included but not yet mandatory. As the rapporteur said, making them compulsory features in the review clause. I also confess that I am a little disappointed that the issue of scope is only in the review clause, in particular looking at the material relevance of the financial part of a large conglomerate rather than just having a threshold. In practice, some Member States may have this under control, but I really do not see why we could not have been bolder at this point in time. As others have said, this is a good outcome, but the next review should be bolder, and we have made the point here of many of the issues that we will wish to see."@en1
lpv:spokenAs	substitute; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member_of_the_bureau; ALDE (2009-07-20--2014-06-30)3 member; Conference of Committee Chairs (2009-07-16--2012-01-18)3 chair; ECON (2009-07-16--2012-01-18)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3 unknown; Liberal Democrats Party (2009-07-14--2014-06-30)3 substitute; JURI (2009-07-16--2012-01-18)3
lpv:unclassifiedMetadata	"Sharon Bowles,"1 "on behalf of the ALDE Group."1
lpv:videoURI	<go to Events_and_structure europarl>2

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