Motion for a resolution

Amendment

27. Acknowledges that while the current policy of low interest rates has a temporarily positive effect on the level of nonperforming loans (NPLs), the high risks related to NPLs should be tackled effectively in a structural fashion; notes the ECB’s and SSM’s efforts in supervising and assisting banks in the euro area in order to reduce their NPL exposure, and in particular the guidance provided by the ECB to banks on tackling NPLs in March 2017 and its actions concerning individual banks, as well as the action plan approved by the ECOFIN Council of 11 July 2017, without prejudice to Parliament’s powers regarding level 1 legislation; points out that an orderly implementation of the Council Action Plan requires a joint effort by banks, supervisors, regulators and national authorities; calls for stress tests characterised by wide coverage, methodological pertinence and robustness; recommends the careful monitoring of developments on the real estate markets; considers that any additional measures should ensure full respect for the prerogatives of the European Parliament;

27. Acknowledges that while the current policy of low interest rates has a temporarily positive effect on the level of nonperforming loans (NPLs), the high risks related to NPLs should be tackled effectively in a structural fashion; notes the ECB’s and SSM’s efforts in supervising and assisting banks in the euro area in order to reduce their NPL exposure, and in particular the guidance provided by the ECB to banks on tackling NPLs in March 2017 and its actions concerning individual banks, as well as the action plan approved by the ECOFIN Council of 11 July 2017, without prejudice to Parliament’s powers regarding level 1 legislation; regrets that in many Member States the effort to reduce the NPLs of their banking system has resulted in an attack on the fundamental right to housing, with thousands of low income households losing, or living under the fear of losing, their homes due to bank debts; points out that an orderly implementation of the Council Action Plan requires a joint effort by banks, supervisors, regulators and national authorities; calls for stress tests characterised by wide coverage, methodological pertinence and robustness; recommends the careful monitoring of developments on the real estate markets; considers that any additional measures should ensure full respect for the prerogatives of the European Parliament;