FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: Admittedly, this obligation applies only in the event of a recovery decision by the Commission in the LBB/IBB case, and only then if the amount to be recovered leads to the capital ratios mentioned in the agreement not being met. However, the success of the restructuring, including the other two measures, would be jeopardised without such a precaution, so that this measure too, despite a suspensory condition relating to authorisation by the Commission, has produced economic effects on its conclusion and hence before the authorisation.
Spanish: Si bien esta obligación sólo se aplicará si la Comisión adopta una Decisión que obligue al reembolso de las ayudas en el asunto LBB/IBB y si el importe por recuperar conlleva un descenso de las ratios de capital por debajo de las citadas en el acuerdo, el éxito de la reestructuración —incluidas las otras dos medidas— se vería comprometido sin tal medida de precaución, de tal modo que esta medida, a pesar de la condición suspensiva relativa a la autorización de la Comisión, ha surtido efectos económicos al concluir su adopción y, por tanto, antes de su autorización.
English: If BGB considers that not even the core capital, which needs to be provided afresh by BGB, can be realised in the sale, Berliner Bank's assets can, of course, be sold as part of a so‐called asset deal that should at least generate some proceeds and thus reduce an extraordinary negative effect from the sale for BGB. As a result, the negative one‐off effect of EUR [...]* would be significantly reduced.
Spanish: Si BGB cree que ni siquiera podrá recuperar con la venta el capital básico fresco que debe aportar, obviamente tiene la posibilidad de vender los activos de Berliner Bank en el marco de un llamado asset-deal, que al menos permitirá unos ingresos positivos, con lo que se evitaría que BGB sufriera una pérdida extraordinaria a raíz de la venta de Berliner Bank Así se reduciría considerablemente el efecto negativo único de [...]* EUR.
English: A number of measures are running below the targets set in the plan. But some of the leeway will be made good by overachieving targets in other areas.
French: Un certain nombre de mesures n'ont pas atteint les objectifs fixés dans le plan, mais cela est compensé par le fait que d'autres objectifs du plan dans d'autres domaines ont été réalisés au‐delà de ce qui était prévu.
Spanish: Algunas medidas van retrasadas respecto del calendario previsto, hecho que, sin embargo, se ve parcialmente compensado por la superación de los objetivos fijados en otros ámbitos.
English: The Commission cannot accept this estimate. Without the risk shield or, alternatively, a capital injection of about EUR 6 billion, BGB would not have been able to continue in business as a result of the interlocking risks within the group.
Spanish: La Comisión no puede aceptar este punto de vista, puesto que, a falta del blindaje de riesgos o, en su defecto, de una aportación de capital de unos 6000 millones EUR, BGB no podría haber continuado sus actividades a causa de la interconexión interna de riesgos.
Portuguese: A Comissão não pode aceitar esta análise, dado que, sem o dispositivo de protecção contra riscos ou, em alternativa, sem uma injecção de capital de cerca de 6 mil milhões de euros, a BGB não teria sido capaz de dar continuidade às suas actividades devido às interpenetrações internas em matéria de riscos.
Dutch: De Commissie is het niet eens met deze inschatting, want zonder het risicoschild of — het alternatief — een kapitaalverhoging van ongeveer 6 miljard EUR zou BGB vanwege de interne risicoverwevenheid haar zakelijke activiteiten in hun geheel niet hebben kunnen voortzetten.
Estonian: Komisjon ei saa sellise hinnanguga nõustuda, kuna ilma riskikaitseta või — alternatiivselt — kapitalieraldiseta suuruses ligikaudu 6 mld eurot ei oleks BGB sisemise riskide põimumise tõttu saanud oma majandustegevust jätkata.
Lithuanian: Komisija nesutinka su tokiu vertinimu, nes be rizikos saugos arba be alternatyvaus kapitalizavimo (kapitalo injekcija apie 6 mlrd. eurų) BGB bankas su savo vidaus rizikos raizgyne iš viso nebūtų galėjęs toliau veikti.
English: It cannot be used as such to generate new business. At most, it makes new business possible in that the shielded real estate service companies in particular — and the bank in general — continue to exist.
Spanish: En todo caso, posibilita la generación de nuevas actividades en el sentido de que contribuye a la subsistencia en el mercado de las empresas blindadas de servicios inmobiliarios, en particular, y del banco, en general.
English: The Commission also considers that the aid with a maximum economic value of EUR 1,8 billion contained in the agreement between the Land of Berlin and the bank on the treatment of any claims to repayment brought by the Land of Berlin arising out of a decision in case C 48/2002 is limited to the strict minimum. Without that agreement the bank would, at the request of its auditors, have had to include in its 2002 annual accounts reserves against impending liabilities amounting to hundreds of millions of euros.
Spanish: A juicio de la Comisión, la ayuda por un valor económico máximo de 1800 millones EUR, contenida en el acuerdo entre el Estado federado de Berlín y el banco sobre el tratamiento de posibles créditos del Estado federado frente a Landesbank Berlin resultantes de una decisión en el procedimiento C 48/2002, se limita, asimismo, al mínimo imprescindible.
English: The risk shield comprises the following guarantees, which are given by the Land of Berlin for 30 years in order to cover the risks arising out of the real estate services business carried on by the subsidiaries IBAG, IBG and LPFV: Loan guarantees: BGB, LBB and BerlinHyp are guaranteed the contractual interest and capital repayments on loans granted by them to IBAG, IBG and their subsidiaries and certain other companies up to 31 December 2001. The companies and loans concerned are listed exhaustively in the annexes to the detailed agreement, which also lays down restrictions in respect of certain loans and a number of express exclusion clauses (negative list). Book value guarantees: IBAG, IBG and certain other companies in the group, primarily direct and indirect subsidiaries of IBAG and IBG, are guaranteed the value of the individual assets entered in the relevant audited balance sheet, with the exception of certain designated items such as intangible assets, cash, balances at the Bundesbank and credit institutions, and prepayments and deferred income (Rechnungsabgrenzungsposten). These book value guarantees are likewise subject to restrictions and exclusions (negative list). Performance obligations taken over from LPFV: LPFV is indemnified in respect of obligations arising out of the earlier real estate business of IBG and its previous subsidiaries Bavaria, Arwobau and Immobilien‐Beteiligungsvertriebsgesellschaft der Bankgesellschaft Berlin GmbH (‘IBV’): LPFV is liable for the first EUR 100 million, and thereafter such obligations are taken over by the Land.
Estonian: See hõlmab järgmisi garantiisid, vabastusi, täitmiskohustuste ülevõtmisi ja tagatisi, mida Berliini liidumaa annab 30 aastaks, et katta tütarettevõtete IBAG, IBG ja LPFV kinnisvarateenuste valdkonna riske:
English: Berliner Volksbank argued that there could be no question of authorising the notified restructuring aid under Article 87(3) of the EC Treaty. The aid was also not covered by the statutory arrangements of institutional liability (Anstaltslast) and guarantor liability (Gewährträgerhaftung) and hence was not existing aid.
Estonian: Berliner Volksbank on seisukohal, et deklareeritud ümberstruktureerimisabi ei kuulu ei avalik-õigusliku rahastamiskohustuse ega ka tagatiseandja vastutuse õiguse instituudi alla, selle kinnitamine asutamislepingu artikli 87 lõike 3 kohaselt ei ole võimalik ja seega ei ole tegemist olemasoleva abiga.
English: The own‐funds ratio targeted by BGB was not too high. Lenders’ and investors’ confidence in BGB was shaken.
French: Le ratio de fonds propres visé par BGB n'est pas trop élevé; en effet, la confiance des actionnaires et investisseurs dans BGB est atteinte à long terme.
Italian: La quota di capitale proprio desiderata dalla BGB non è troppo elevata, in quanto la fiducia dei finanziatori e investitori nella BGB non è più integra.
Swedish: Den totala kapitaltäckningsgrad som BGB satt som mål är inte för hög, eftersom investerarnas förtroende för banken varaktigt skadats.
Finnish: BGB: n tavoittelema oman pääoman osuus ei ole Saksan mielestä liian suuri, koska rahoittajien ja sijoittajien luottamus BGB: hen oli pysyvästi häiriintynyt.
Estonian: BGB eesmärgiks seatud omakapitali määr ei ole liiga kõrge, kuna kapitali andjate ja investorite usaldus BGB suhtes on pikaks ajaks rikutud.
Lithuanian: BGB banko siekiama nuosavo kapitalo kvota yra ne per didelė, nes kreditorių ir investuotojų pasitikėjimas yra sutrikdytas ilgam laikui.
English: However, the Commission considers the qualitative and quantitative objectives and the strategy in the real estate financing field to be overoptimistic. [...]*.
Slovak: Kvalitatívne a kvantitatívne ciele plánu, ako aj stratégiu pre financovanie nehnuteľností však Komisia považuje, ako je už uvedené vyššie, za príliš optimistické [...].
Hungarian: Az ingatlanfinanszírozási üzletághoz készült minőségi és mennyiségi célkitűzéseket és stratégiákat azonban a Bizottság, amint a fentiekben taglaltuk, túl optimistának tartja [...].
Estonian: Kvaliteedi ja kvantiteedi alaseid eesmärke ja strateegiat kinnisvara finantseerimise valdkonnas peab komisjon siiski nagu eespool juba käsitletud, liiga optimistlikuks [...]*.
English: Real estate services are the area which was the main cause of the crisis and of the restructuring measures under consideration here, and they have benefited most from the risk shield, the measure that represents the largest volume of aid. From the outset, therefore, there were doubts about the continuation of this line of business.
Estonian: Kinnisvarateenuste tegevusvaldkond on peamine kriisi ja siinkohal hinnatava ümberstruktureerimisabi põhjustaja ja on saanud kõige enam kasu riskikaitsest kui kõige suuremate abisummadega meetmest.
English: This general intention was spelt out in detail in the undertaking submitted by Germany in January 2004. Germany here undertakes to ensure that by 31 December 2005 the BGB group sells or liquidates all holdings in real estate service companies covered by the risk shield.
Polish: Ogólny zamiar został przedstawiony ze szczegółami w zobowiązaniu przekazanym przez Niemcy w styczniu 2004 r., w którym Niemcy zobowiązują się do zapewnienia, iż BGB, ze skutkiem bilansowym najpóźniej do 31 grudnia 2005 r., sprzeda lub zlikwiduje wszystkie udziały w spółkach świadczących usługi w zakresie nieruchomości, które objęte są zabezpieczeniem ryzyka.
Estonian: Saksamaa täpsustas seda üldist kavatsust jaanuaris 2004 esitatud nõusolekus.
English: The Commission examined these arguments, together with the related data provided, and came to the conclusion that divestment of the real estate financing business in the short term would jeopardise the bank’s viability (see paragraph 230). Moreover, an analysis of the competitive situation on the German market for real estate financing showed that BGB is not among the leading suppliers.
Estonian: Komisjon on kõnealuseid argumente ja esitatud asjakohast informatsiooni kontrollinud ja jõudnud järelduseni, et kiire võõrandamine kinnisvara finantseerimise valdkonnas tõepoolest ohustaks panga elujõulisust (vaata servanumbrit 230).
Lithuanian: Komisija patikrino šiuos argumentus, taip pat visą su tuo susijusią gautą informaciją ir priėjo išvadą, kad nekilnojamojo turto finansavimo veiklos pardavimas per trumpą laiką iš tiesų keltų pavojų Banko gyvavimui (žr. 230 konstatuojamąją dalį).
English: According to the original notification, BGB, with a share of some 5 % in 2000, occupied third place. However, according to more up‐to‐date data submitted by Germany, which are adjusted for public‐sector lending, actual market share in 2000 was only some 3 %, and this is likely to fall to 2 % by 2006.
Dutch: Weliswaar nam BGB volgens de oorspronkelijke gegevens in de aanmelding met een aandeel van circa 5 % in 2000 nog de derde plaats in, maar volgens door Duitsland verstrekte meer actuele informatie, die ontdaan is van kredieten aan gemeenten en gemeentelijke instellingen, werd in 2000 in werkelijkheid slechts een marktaandeel van circa 3 % behaald, dat tot 2006 vermoedelijk naar 2 % zal dalen.
Estonian: Lisaks on Saksa turul kinnisvara finantseerimise valdkonnas valitseva konkurentsiolukorra analüüs näidanud, et BGB ei kuulu siin juhtivate pakkujate hulka.
English: In response to the Commission’s doubts, Germany argued that the volume‐based market shares originally submitted for BGB in the individual segments of the Berlin market were overstated. This was because of BGB’s reports to the Land central bank, which were for the whole group and did not distinguish between product markets or regions.
Estonian: Saksamaa veenis komisjoni tema kahtluste osas, et algselt esitatud ja mahust lähtuvad BGB turuosa arvestused üksikutes Berliini turu segmentides on liialdatult suured.
English: By its own efforts, in particular by reducing its risk exposure, the bank subsequently managed to increase its core‐capital ratio to above 5 %. At the end of 2003 the ratio stood at around 6 %.
Estonian: Pangal õnnestus edaspidi oma jõupingutustega, eriti riskipositsioonide vähendamise teel tõsta esmaste omavahendite määra üle 5 %.
English: Without that agreement the bank would, at the request of its auditors, have had to include in its 2002 annual accounts reserves against impending liabilities amounting to hundreds of millions of euros. This would have had a negative impact on the bank’s annual results for 2002 and on its own funds. However, at the time when its annual accounts for 2002 were drawn up, and also thereafter, the bank reported a core‐capital ratio that was no more than 6 % and was partly below that figure. The bank would not have coped with any further pressure on the core‐capital ratio at this stage of restructuring.
Estonian: Ilma lepinguta oleks pank pidanud audiitorite nõudmisel 2002. aasta aastaaruandes esitama sadadesse miljonitesse ulatuvad reservid ähvardavate kohustuste katteks.
English: Mario Monti
Estonian: komisjoni liige
English: OJ C 288, 9.
Estonian: EÜT C 288, 9.
Latvian: OV C 288, 9.
English: Total earnings are set to [...]* in the reorganisation sphere from 2001 to 2006, while total administrative expenditure during the same period should fall by more than [...]* % and profit before tax should rise from below minus EUR [...]* to about EUR [...]*. Risk positions are to be significantly reduced. The number of employees is to be cut from about 6000 in 2001 to a little over [...]* in the reorganised group in 2006.
Finnish: Henkilöstömäärää on tarkoitus vähentää vuoden 2001 noin 6000: sta saneeratun konsernin yli [...]* vuonna 2006.
Hungarian: A dolgozók számát a 2001. évi kb. 6000-ről 2006-ban a szanált konszernben jó [...]-ra kellene leépíteni.
English: In retail banking, although shareholdings have been or will be sold (Polska, Zivnostenska, Allbank, Weberbank) and branches shut, the restructuring plan valid up to the autumn of 2003 aimed to keep market presence in Berlin more or less intact or even to consolidate it slightly in individual segments.
French: Dans la banque de détail, bien que des participations aient été vendues ou doivent être vendues (Polska, Živnostenka, Allbank, Weberbank) et que des agences aient été fermées, le plan de restructuration valable jusqu ' à l ' automne 2003 visait à laisser la présence sur le marché de Berlin plus ou moins intacte, voire même à la consolider dans certains segments.
Swedish: Inom retailverksamheten exempelvis har banken sålt eller kommer att sälja innehav (Polska, Živnostenská, Allbank, Weberbank) och filialer har stängts eller kommer att stängas, men enligt den till hösten 2003 gällande omstruktureringsplanen planerade banken att behålla en oförändrad närvaro på marknaden i Berlin och i vissa segment till och med utöka den något.
Finnish: Syksyyn 2003 voimassa olleen rakenneuudistussuunnitelman mukaan tarkoitus oli tosin suurin piirtein säilyttää osuudet Berliinin markkinoista tai jopa hieman kasvattaa niitä yksittäisillä markkinasegmenteillä.
Polish: I tak sprzedano lub dojdzie do sprzedaży udziałów w bankowości detalicznej (Polska, Zivnostenka, Allbank, Weberbank) oraz zamknięto oddziały; a zgodnie z planem restrukturyzacji ważnym do jesieni 2003 r. przewidziano utrzymanie obecności na rynku w Berlinie na mniej więcej tym samym poziomie, nawet przewidziano nieznaczne rozszerzenie obecności w pojedynczych segmentach.
English: The measures in this business area should therefore be viewed as primarily serving to concentrate on the regional core business and to cut costs by closing branches.
French: Les mesures dans ce secteur doivent donc être considérées comme visant principalement un recentrage sur les activités essentielles au niveau régional et la réduction de coûts grâce à la fermeture d ' agences.
Swedish: På detta affärsområde bör åtgärderna följaktligen i huvudsak uppfattas som åtgärder för att förverkliga målet om koncentration på den regionala kärnverksamheten och minska kostnaderna genom stängning av filialer.
Finnish: Näin ollen tämän liiketoiminta-alueen toimenpiteillä katsotaan pyrittävän lähinnä alueellisiin ydintoimintoihin keskittymistä koskevaan tavoitteeseen ja kustannusten supistamiseen sulkemalla konttoreita.
Polish: Środki podejmowane w tym zakresie działalności należy postrzegać głównie jako służące koncentracji na regionalnym sektorze oraz redukcji kosztów poprzez zamykanie oddziałów.
English: In the event of a divergence between the two valuations and in the absence of agreement between the contracting parties, the value will be determined by a third expert to be appointed by the Institut der Wirtschaftsprüfer in Deutschland e.V.
French: En cas de divergence entre les deux évaluations et en l'absence d'accord entre les parties contractantes, la valeur sera déterminée par un troisième expert qui sera désigné par l'Institut der Wirtschaftsprüfer in Deutschland e.V.
Italian: Nel caso in cui si manifesti una divergenza fra le due valutazioni e non si giunga a un accordo fra le parti contrattuali, il valore verrà determinato da un terzo perito, da nominare a cura dell'Institut der Wirtschaftsprüfer in Deutschland e.V.
Finnish: Jos arviot poikkeavat toisistaan ja sopimuspuolet eivät pääse yksimielisyyteen, arvon vahvistaa kolmas, Institut der Wirtschaftsprüfer in Deutschland e.V.
Slovak: V prípade, že medzi obidvomi oceneniami budú rozdiely a zmluvné strany sa nedokážu dohodnúť, bude cena stanovená znalcom, ktorého vymenuje Institut der Wirtschaftsprüfer in Deutschland e.V.
Polish: W razie wystąpienia różnicy między wyżej wymienionymi szacunkami oraz w razie braku porozumienia między stronami umowy wartość zostanie określona przez wyznaczonych przez Institut der Wirtschaftsprüfer in Deutschland e.V.
Hungarian: Ez elismert értékelési eljárások alapján történik.
Lithuanian: Pirkimo kaina bus nustatyta iki 2005 m. kovo 31 d., remiantis Žemės užsakyto nepriklausomo auditoriaus įvertinimu, kurį galiausiai dar kartą patikrins Banko užsakytas nepriklausomas auditorius.
English: (German Auditors Institute).
French: (Institut allemand des experts‐comptables).
Italian: (Istituto dei revisori dei conti operanti in Germania).
Finnish: ‐laitoksen määräämä asiantuntija.
Slovak: (Nemecký audítorský inštitút).
Polish: (Instytut Biegłych Rewidentów w Niemczech e.V.) biegłych.
Hungarian: A két értékelés közti eltérés és a szerződő felek közti egyezség hiánya esetén az értéket egy harmadik, a Németországban bejegyzett Hiteles Könyvvizsgálók Intézete által kijelölendő szakértő fogja megállapítani.
Lithuanian: Tai vyks, remiantis pripažintu vertinimo metodu.
English: In 2000 BGB had a group balance sheet total of about EUR 205 billion in 2000, about EUR 189 billion in 2001 and about EUR 175 billion in 2002. This put it in tenth place among German banks in 2001 and in twelfth place in 2002.
French: Le total du bilan de BGB s'élevait en 2000 à quelque 205 milliards d'euros, en 2001, à quelque 189 milliards d'euros et en 2002, à quelque 175 milliards d'euros, ce qui le plaçait au dixième rang (2001) puis au douzième rang (2002) des banques allemandes.
Dutch: In 2000 had BGB een balanstotaal van circa 205 miljard EUR, in 2001 van circa 189 miljard EUR en in 2002 van circa 175 miljard EUR. Zij nam daarmee de tiende plaats (2001) respectievelijk de twaalfde plaats (2002) in onder de Duitse banken.
Slovenian: Leta 2000 je znašala bilančna vsota koncerna BGB okoli 205 milijard EUR, leta 2001 okoli 189 milijard EUR in leta 2002 okoli 175 milijard EUR. S tem je zasedala deseto (2001) oz. dvanajsto mesto (2002) med nemškimi bankami.
English: Both IBAG and LPFV are now wholly owned subsidiaries of BGB. The old IBG kept only a few peripheral lines of business.
French: IBAG et LPFV sont actuellement contrôlés à 100 % par BGB; IBG n'a conservé que quelques activités périphériques.
English: In the first half of 2001 BGB found itself in acute difficulty. The main causes were loan defaults in real estate financing and guarantee obligations on IBG/IBAG/LPFV that were falling due in the funds business, for which provisions of about EUR 1 billion had to be set aside at the end of 2000, along with the need to adjust the value of building projects in progress and to increase risk provision in real estate financing.
French: Au premier semestre 2001, BGB est entré dans une crise grave, dont l'origine se trouve notamment dans des créances douteuses des activités de financement immobilier, ainsi que dans les garanties qu'IBG/IBAG/LPFV ont dû honorer dans la gestion des fonds, ce qui a nécessité pour l'exercice 2000 la constitution de réserves d'environ 1 milliard d'euros, ainsi que des corrections de valeur pour des projets de construction en cours et un relèvement des provisions pour risques dans le secteur du financement immobilier.
English: Other areas, such as large customers and international business, including structured finance and mergers and acquisitions consultancy, are to be wound up, and others again, such as public sector business, are to be cut back drastically. Initially, real estate services were also to continue.
French: D'autres activités, comme le secteur gros clients/international, y compris Structured Finance, et le conseil en matière de fusions et d'acquisitions, devraient être progressivement abandonnées, tandis que d'autres, comme le secteur public, devraient être fortement réduites.
Portuguese: Outros sectores de actividade, como sejam os sectores dos grandes clientes e das operações com o estrangeiro, incluindo as actividades structured finance e os serviços de consultoria no domínio das concentrações e aquisições de empresas, deverão ser liquidados, devendo outros sectores, como o sector das operações com o Estado, ser fortemente reduzidos.
English: As already mentioned, the Land of Berlin’s shares in BGB are to be sold. The Commission has received a commitment to this effect.
French: Comme il a été indiqué plus haut, la participation du Land de Berlin dans BGB doit être cédée; la Commission a reçu un engagement à cet effet.
English: Yield rates before tax in Germany in the period from 1995 to 2000 ranged from 12,6 % to 17,6 % for regional banks/savings bank and from 13 % to 16,5 % for all banks (top 100). Over time, however, a reduction in equity return could be observed.
French: En Allemagne, les taux de rendement avant impôts se sont situés, pour les banques régionales et les caisses d'épargne ou pour toutes les banques (100 premières), dans une fourchette de 12,6 à 17,6 % ou 13 à 16,5 % pendant la période 1995‐2000.
English: It could though be argued that new business was possible only because of the risk shield. But in that case the size of the market distortion could be no more than the total volume of new business.
French: On pourrait considérer à la rigueur que ces nouvelles activités n'ont été possibles que grâce à la protection contre les risques, mais la distorsion du marché se limiterait alors en tout état de cause au volume total de ces activités.