(Codecision procedure: second reading)

The European Parliament,

-  having regard to the Council common position (7550/1/2001 - C5-0295/2001 ),

-  having regard to its position at first reading(1) on the Commission proposal to Parliament and the Council (COM(1998) 451 (2) ),

-  having regard to the amended Commission proposal (COM(2000) 331 (3) ),

-  having regard to Article 251(2) of the EC Treaty,

-  having regard to Rule 80 of its Rules of Procedure,

-  having regard to the recommendation for second reading of the Committee on Economic and Monetary Affairs (A5-0324/2001 ),

1.  Amends the common position as follows;

2.  Instructs its President to forward its position to the Council and Commission.

Council common position   Amendments by Parliament Amendment 2 ARTICLE 1, POINT 3 Article 5 a, paragraph 1, point (a), indent 5 (Directive 85/611/EEC )    - No later than …….* , the Commission shall present a report to the European arliament and the Council on the application of this capital requirement, ccompanied where appropriate by proposals for its revision. _____________ * 60 months after the entry into force of this Directive amending Directive 85/611/EEC .    - No later than …….* , the Commission shall present a report to the European arliament and the Council on the application of this capital requirement, ccompanied where appropriate by proposals for its revision. _____________ * 36 months after the entry into force of this Directive amending Directive 85/611/EEC .

(1) OJ C 339, 29.11.2000, p. 228. (2) OJ C 272, 1.9.1998, p. 7. (3) OJ 311 E, 31.10.2000, p. 273