Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-251"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-05-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Active inclusion of people excluded from the labour market (A6-0263/2009 , Jean Lambert)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20090506.32.3-251"2
lpv:hasSubsequent	lp_eu:2009-05-06-Speech-3-2522
lpv:speaker	lp:Udo Bullmann2
lpv:spokenAs	member; Delegation to the ACP-EU Joint Parliamentary Assembly (2004-09-15--2009-07-13)3 member; PES (2004-07-20--2009-07-13)3 unknown; Sozialdemokratische Partei Deutschlands (2004-07-20--2009-07-13)3 substitute; Delegation for relations with South Africa (2007-03-14--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3 substitute; EMPL (2007-01-31--2009-07-13)3 substitute; Delegation for relations with the countries of Central America (2007-03-14--2009-07-13)3
lpv:translated text	". The SPD Members of the European Parliament have rejected the report for two reasons: First, the retention for the securitisation of loans is an important and correct instrument for involving financial institutions in the business risk of the loans in question. However, this requires a significantly large retention. The 5% retention agreed in the trialogue does not meet this requirement. The European Commission originally called for a 15% retention in the consultation process but then bowed to pressure from industry and proposed 5%. Conservatives and liberals in the Committee on Economic and Monetary Affairs wanted to declare even this low-level participation in the business risk unnecessary through the submission of a guarantee by the financial institutions. The SPD Members of the European Parliament support a much higher retention and will also emphasise this demand in future reforms of the Capital Requirements Directive. Second, the definition of core capital given in the Karas report violates the competitive neutrality of the regulation. It provides that, in future, silent capital contributions will no longer fully count as core capital, although they can be fully absorbed in the event of liquidity. This opens the floodgates to unfair competition against public banks in Germany. We note that silent capital contributions are a proven refinancing instrument, which is compatible with EU law. As the outcome of the trialogue does take account of the explanatory amendments we have proposed, we reject the report."@en1

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