Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-252"
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"en.20090506.32.3-252"2
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"I congratulate the rapporteur for his diligent work, both on the substance of the text and in the subsequent negotiations. The exceptional circumstances require us to take fast, appropriate action.
I can accept the result proposed to us in the area of securitisation. The systematic introduction of standardised Colleges of Supervisors is a major advance.
Since the autumn, the draft report has opened the way with its idea of a decentralised European supervisory system. The de Larosière group’s report and the Commission communication of 4 March have usefully developed this idea. I am delighted that these ideas meet with general approval.
As for the scope, one thing must be said. Instead of taking the somewhat simplistic criterion of cross-border banks, it might be wiser to target the banks that have a systemic importance.
The latter would be directly subject to the new banking authority. The other banks would be supervised by a college or, in the case of purely national banks, by their national supervisor. For crisis management purposes, the systemic banks should also be subject to financial stability arrangements at European level."@en1
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