FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: In its rescue aid decision of 25 July 2001, the Commission therefore recognised a core‐capital ratio of 5 % as being necessary in order to enable a bank to continue to exist. This was based essentially on a letter from BAKred, as it then was.
Italian: Nella decisione relativa agli aiuti al salvataggio del 25 luglio 2001, infatti, la Commissione aveva riconosciuto come necessaria al proseguimento dell'attività della banca una percentuale del capitale di base del 5 %.
Latvian: Tādēļ Komisija savā 2001. gada 25. jūlija lēmumā ar sanācijas palīdzības piešķiršanu atzina, ka, lai banka varētu turpināt pastāvēt, ir nepieciešama pamatkapitāla kvota 5 % apmērā.
English: As confirmed by Mazars, the Commission is also aware that in the financial markets a core‐capital ratio of 6 % is generally mentioned as being the threshold below which questions arise as to the strength of the institution concerned and the confidence of the financial markets suffers. According to Mazars, ratings agencies tend to view core‐capital ratios as a reflection of a bank’s financial strength, which is why credit institutions generally strive to exceed the required capital underpinning in order to ensure sound ratings, this being a precondition for access to the international capital markets on reasonable terms.
Italian: Questo è avvenuto, in maniera determinante, sulla base di una lettera dell'allora BAKred.
Latvian: Lielā mērā tas notika, pateicoties toreizējās BAKred vēstulei.
English: However, an increase to over 6 % is, in the Commission’s opinion, solely a commercial objective the responsibility for which must be assumed by the bank and thus cannot be financed by state aid. The bank’s competitors are faced with the same market situation but have to increase their core‐capital ratios on their own without any state support.
Italian: In accordo con Mazars, la Commissione ritiene che anche un aumento a medio termine della percentuale del capitale di base oltre il 6 % possa condurre al raggiungimento dell'obiettivo.
Latvian: Saskaņā ar Mazars novērtējumu arī Komisija uzskata pamatkapitāla kvotas palielināšanu tā, lai tā vidējā termiņā pārsniegtu 6 %, par mērķim atbilstošu.
English: To sum up, the Commission, in line with Mazars’ findings, proceeds on the assumption that the bank will, in its own well-understood business interests, make every effort in the long term to reach a core‐capital ratio which results in a satisfactory rating from its point of view. According to the bank, this is at least 7 %.
Italian: Riepilogando, la Commissione, in accordo con Mazars, parte dal presupposto che la banca attuerà a lungo termine, nel proprio comprensibilissimo interesse commerciale, tutti gli sforzi per aumentare quella percentuale del capitale di base che comporta un rating per lei soddisfacente e che, secondo le indicazioni della banca, ammonta almeno al 7 %.
English: They advise, however, that the bank’s dependence on interest‐rate changes should be lessened by reducing the positions in the bank book. Bearing in mind this recommendation, the Commission thus considers the risks arising out of capital market transactions to be manageable and regards the buoyancy of this business area as guaranteed.
Italian: Tenendo conto di questa raccomandazione, la banca ritiene che sia possibile gestire i rischi derivanti dall'attività del mercato finanziario e considera garantita la sussistenza di questo settore di attività.
English: An adjusted, more conservative business plan would include this devaluation risk, as would the annual accounts for 2003 and 2004. At the Commission’s request, the restructuring plan was revised and the devaluation risk duly taken into account.
Italian: Su richiesta della Commissione, è stato rielaborato il piano di ristrutturazione e si è tenuto conto, in maniera adeguata, dei rischi di svalutazione.
English: According to BGB’s own figures, the negative effects stemming from abandonment of the planned increase in LBB's commission earnings attributable to reorganisation, workforce uncertainty and the use for restructuring purposes of management resources of EUR [...]*, from the delay in workforce cutbacks within the group of EUR [...]* and from the remaining costs caused by diseconomies of scale of EUR [...]* would not continue indefinitely. The Commission shares this view.
Italian: In base ad alcune indicazioni della BGB, non subentrerebbero affatto in maniera duratura gli effetti negativi derivanti dall'abolizione dell'aumento pianificato dei ricavati dalle provvigioni della LBB, in seguito alla riorganizzazione, alla situazione di incertezza dei collaboratori e al vincolo delle risorse di management pari a [...]* EUR, dal ritardo del taglio dei collaboratori all'interno del gruppo pari a [...]* EUR e dalle spese rimanenti dei vantaggi di scala pari a [...]* EUR. La Commissione condivide questa opinione.
English: The requirement of a separate sale would entail a one‐off write‐down of the present book value of EUR [...]* by EUR [...]* to the book value of BerlinHyp's capital of EUR 519 million. The expected pre‐tax result for the rest of the group in 2006 would be reduced by a further EUR [...]* or so (difference between the disappearance of the planned BerlinHyp result of some EUR [...]* and the interest earnings on the expected sales proceeds of some EUR [...]*). Together with the separate sale of Berliner Bank, this would result in a further fall of some [...]* % in the target return on capital of the rest of the group in 2006 to a little over [...]* % generally and a core‐capital ratio of only just over [...]* %.
Italian: L'impegno in merito a un'alienazione separata richiederebbe un ammortamento una tantum del valore contabile attuale da [...]* EUR di [...]* EUR sul valore contabile dei fondi propri della BerlinHyp di 519 milioni di EUR. Il risultato economico al lordo delle tasse e imposte previsto per il 2006 per il resto del gruppo, si riduce all'incirca di altri [...]* EUR (differenza tra la scomparsa del previsto risultato della BerlinHyp di circa [...]* EUR e gli interessi provenienti dal ricavato della vendita di circa [...]* EUR. Insieme alla vendita separata della Berliner Bank, questo avrebbe come conseguenza un abbassamento ulteriore del rendimento dei fondi propri del resto del gruppo, auspicato per il 2006, di circa il [...]* % su un totale di [...]* %, nonché una percentuale del capitale di base appena sopra il [...]* %.
English: In reality, a bank could increase its risk‐weighted assets by 25 only if a capital increase comprised additional capital as well as core capital. Even if the bank already had additional capital that could not previously be taken into account, the assessment should not be based on an expansion of business that had been made possible only by the additional capital that had been available in any event.
Italian: Solo nel caso in cui, congiuntamente all'aumento del capitale di base venisse apportato anche il capitale integrativo, una banca potrebbe aumentare le attività ponderate in base al rischio di 25 volte.
Latvian: Tikai tādā gadījumā, ja, palielinot pamata kapitāla summu, vienlaikus tiek iepludināts arī papildus kapitāls, banka tiešām 25 reizes varot paaugstināt attiecībā pret riskiem novērtētos aktīvus.
English: Turning to the risk shield, at the time of the decision initiating the procedure, the economic value of this aid was not clear. Since then Germany has argued that the economic value of the risk shield should be estimated at a little over EUR 6 billion (see paragraph 138). It has also stated that real estate services are not subject to the solvency rules, so that the contraction in business that is avoided cannot be derived from the capital ratios. It further contends that the risk shield relates essentially to old business in real estate services. According to Germany, it could be argued that, during the restructuring of IBAG, new business was made possible only because cover had been provided for the company.
Italian: Per ciò che concerne la copertura contro i rischi, al momento della decisione di avvio del procedimento permanevano dei punti non chiari relativamente al valore economico dei sussidi.
Latvian: Attiecībā uz risku nodrošināšanu lēmuma par procedūras uzsākšanu brīdī vēl nebija skaidra palīdzības ekonomiskā vērtība.
English: But its role is confined to protecting the bank from risks deriving from old business. It cannot be used as such to generate new business.
Italian: Essa si limita tuttavia a proteggere la banca dai rischi derivanti dalle vecchie attività e, come tale, non può essere utilizzata per la generazione di nuove attività.
English: 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.
Italian: La banca, però, al momento della compilazione del bilancio 2002 ed anche in seguito, disponeva di una percentuale del capitale di base che non andava oltre il 6,0 % e in parte era anche inferiore.
Slovenian: Vendar je banka v času sestavljanja letne bilance za leto 2002 in tudi kasneje prikazovala stopnjo temeljnega kapitala, ki ni znašala več kot 6 % in je bila deloma še nižja.
English: As explained above, the Commission believes that in the long term a core‐capital ratio of 6 % is absolutely vital. If, in its decision in case C 48/2002, the Commission were to oblige the Land of Berlin to recover from the bank the aid element incompatible with the common market, the Land of Berlin would leave its claim in the form of a deposit with the bank.
Italian: La banca non sarebbe stata in grado di fronteggiare un ulteriore aggravio della percentuale del capitale di base in questa fase della ristrutturazione.
Slovenian: Dodatne obremenitve stopnje temeljnega kapitala banka v tej fazi prestrukturiranja ne bi prenesla.
English: According to the Federal Cartel Office’s decision of 19 June 2002 in Eurohypo, the newly created Eurohypo, the Hypovereinsbank group, the Depfa group, the BHF group and BayLB led the various submarkets in the real estate financing sector in 2001, in terms of both existing and new business. Even Deutsche Bank itself (i.e. without its share in Eurohypo) came before BGB, which in this decision was not listed among the leading competitors with market shares of 5 % or more.
Italian: Ai sensi della decisione «Eurohypo» del Bundeskartellamt, del 19 giugno 2002, i gruppi dominanti nei diversi sottomercati del settore dei finanziamenti immobiliari nell'anno 2001, sia per quanto riguarda la consistenza sia per quanto concerne le nuove attività, erano l'Eurohypo, la Hypovereinsbankgruppe, la Depfa-Gruppe, il BHF-Gruppe e la BayLB.
English: The sales conditions must not contain any clause that inappropriately restricts the number of potential bidders or is tailored to a specific potential bidder. Germany will ensure that those divestments and sales are adequately publicised.
Italian: Le condizioni di vendita non devono contenere clausole atte a limitare in modo inopportuno il numero dei potenziali candidati oppure a favorire determinati soggetti.
English: Directly or indirectly, BGB also controls or has controlled various other domestic and foreign firms, such as Weberbank, Allgemeine Privatkundenbank AG (Allbank, now sold), BGB Ireland, BGB UK, BG Polska (the retail and Inteligo internet businesses have now been sold, and liquidation of the remaining shell has begun) and the Czech bank Zivnostenska Banka a.s. (now sold).
Slovak: Okrem toho BGB kontroluje, resp. kontrolovala priamo alebo nepriamo rôzne iné domáce alebo zahraničné podniky, ako napr. Weberbank, Allgemeine Privatkundenbank AG („Allbank“, medzičasom predaná), BGB Ireland, BGB UK, BG Polska (maloobchod a internetová oblasť „Inteligo“ medzičasom predaná, likvidácia zvyšného „obalu“ sa už začala), ako aj českú Živnostenskú banku, a. s., (medzičasom predaná).
Lithuanian: Be to, BGB bankas tiesiogiai arba netiesiogiai kontroliuoja ir kontroliavo įvairias kitas šalies arba užsienio įmones, pvz., bankus „Weberbank“, „Allgemeine Privatkundenbank AG (Allbank)“ (dabar jau parduotas), „BGB Ireland“, „BGB UK“, „BG Polska“ (privačių klientų ir įmonių operacijos ir interneto sritis „Inteligo“, dabar jau parduotos ir pradėtas likusiojo „apvalkalo“ likvidavimas) ir čekų banką „Zivnostenská Banka a.s.“ (dabar jau parduotas).
English: This, together with the separate sale of Berliner Bank, would result in a further fall in the target equity return in 2006 for the rest of the group of some [...]** %, to just over [...]** % in all, and a core‐capital ratio of just under [...]** %. Avoidance of undue distortions of competition
Lithuanian: Likusios koncerno dalies 2006 m. planuojamas gauti pelnas iki apmokestinimo sumažėtų dar [...]* eurų (skirtumas tarp banko „BerlinHyp“ [...]* eurų planuoto, bet nepasiekto pelno ir [...]* eurų palūkanų pelno iš planuotų pardavimo pajamų).
English: The main reason given was that the sale would have led to an immediate transfer of the assets of the real estate financing business (especially BGB’s stake in BerlinHyp with a book value of EUR [...]*) from capital assets to current assets. This would have necessitated a valuation of those assets at the current market value, [...]*.
Lithuanian: Kaip pagrindinė priežastis buvo nurodyta tai, kad dėl pardavimo tuoj pat reikėtų keisti nekilnojamojo turto finansavimo sektoriaus balanso turto išsidėstymą (ypač BGB banko dalyvavimą banke „BerlinHyp“ su [...]* eurų balansine verte) pervedant ilgalaikį turtą į trumpalaikį (apyvartines lėšas).
English: The draft report was submitted as agreed on 30 September 2003. The main findings were discussed with Germany on 3 October. The final version of the report was transmitted to Germany on 20 November.
Lithuanian: Ekspertizės projektas pagal susitarimą buvo pateiktas 2003 m. rugsėjo 30 d. Svarbiausi rezultatai su Vokietija buvo aptariami 2003 m. spalio 3 d. Galutinė ekspertizės išvada 2003 m. lapkričio 20 d. buvo perduota Vokietijai.
English: The detailed picture is as follows: Retail business in the private banking field
Lithuanian: Mažmeninė bankininkystė privačių klientų sektoriuje
English: On the basis of the same considerations, the Commission has ensured that Germany commits itself to leaving the IBB reserve in the context of the divestment of government assistance business in 2005 in the bank only as far as is necessary to maintain the core‐capital ratio at a level of 6 % on the reference date of 1 January 2004. This measure is to be viewed as part of the compensation to be provided by the bank in order to limit in the interests of competitors the distortions of competition caused by the aid.
Polish: Biorąc pod uwagę powyższe rozważania, Komisja wpłynęła na zobowiązanie Niemiec o pozostawieniu rezerw IBB w ramach wyodrębniania działalności wspomaganej w roku 2005 tylko do tego poziomu w banku, do jakiego jest to konieczne w celu utrzymania współczynnika kapitału podstawowego w wysokości 6 % w dniu 1 stycznia 2004 r. Powyższe działanie należy postrzegać jako część kompensat ze strony banku, która ma na celu ograniczenie w interesie konkurentów zakłóceń konkurencji spowodowanych przyznaniem pomocy.
Lithuanian: Dėl tų pačių priežasčių Komisija siekė Vokietijos įsipareigojimo IBB bankui, atsižvelgiant į 2005 m. rėmimo veiklą, palikti banke tokį depozitą, kuris yra reikalingas išlaikyti 6 % pagrindinio kapitalo kvotą 2004 m. sausio 1 d. Ši priemonė laikytina kompensacijos dalimi, kurią bankas turi mokėti konkurentų interesais, kad apribotų valstybės pagalbos daromą įtaką rinkos iškreiptumui.
English: This is especially relevant for project financing in the fields of air transport, energy and telecommunications. The worst-case scenario makes an additional risk provision for this of EUR [...]*.
Lithuanian: Blogiausio atvejo scenarijus „Worst-case-Szenario“ atsižvelgia į tai ir numato rizikos padengimui papildomai [...]* eurų.
English: The conversion of BGB’s consolidated accounting to adapt it to IFRS (International Financial Reporting Standards) in 2005 calls inter alia for reassessment of the pension provisions. In the opinion of the Commission’s advisers Mazars, these could have a negative impact on the consolidated own capital to the tune of some EUR [...]*.
Lithuanian: BGB banko konsoliduotos atskaitomybės pritaikymas prie Tarptautinių finansinės atskaitomybės standartų IFRS (International Financial Reporting Standards) 2005 m. pareikalaus iš naujo įvertinti pensijų atsargas (reikalingas ir kaupiamas sąnaudoms, darbuotojus išleidžiant į pensiją arba atleidžiant iš darbo).
English: It has stated its willingness to sell Berliner Bank separately by 1 February 2007 (real effective date), with a tendering procedure being launched in 2005 and completed by1 October 2006. The formal commitment was submitted to the Commission on 6 February 2004.
Polish: W odpowiedzi na powyższe Niemcy oświadczyły gotowość do oddzielnej sprzedaży Berliner Bank do dnia 1 lutego 2007 r. (rzeczywista data sprzedaży) przy wszczęciu procedury sprzedaży w roku 2005 oraz jej zamknięciu na podstawie umowy do dnia 1 października 2006 r. Komisja otrzymała formalne zobowiązanie do sprzedaży w dniu 6 lutego 2004 r.
Lithuanian: Vokietija pareiškė esanti pasiruošusi atskirai parduoti banką „Berliner Bank“ iki 2007 m. vasario 1 d. (juridinis įsiteisėjimas), pradedant pardavimo procedūrą 2005 m. ir ją baigiant pagal sutartį 2006 m. spalio 1 d.
English: In the Commission's view, BerlinHyp could realistically be of interest once again, at least from 2006 onwards, to a strategic investor. BerlinHyp's business plan also assumes an improvement by then in the general market situation for real estate financing business.
Lithuanian: Todėl Komisija atsižvelgia į Vokietijos pastebėjimą, kad banko „BerlinHyp“ atskiro pardavimo tikslingumą reiktų patikrinti iš naujo, atsižvelgiant į likusio koncerno privatizavimą, ir kad bankas „BerlinHyp“, priklausomai nuo to, koks scenarijus pakoreguos privatizavimo prognozę, turėtų būti 2007 m. pabaigoje parduodamas arba kartu su likusiu koncernu, arba atskirai, taikant skaidrią, viešą ir nediskriminuojamą procedūrą.
English: IBB
Lithuanian: IBB bankas
English: The divestment of Berliner Bank has to take effect by 1 February 2007 at the latest. It is possible therefore that the effects will be shown only in the balance sheet for 2007.
Polish: Sprzedaż Berliner Bank musi stać się skuteczna najpóźniej do 1 lutego 2007 r. Efekt sprzedaż zostanie zauważony prawdopodobnie dopiero w bilansie za rok 2007.
Lithuanian: Banko „Berliner Bank“ pardavimas turi įvykti ne vėliau kaip iki 2007 m. vasario 1 d. Todėl gali būti, kad efektas pasirodys tik 2007 metų balanse.
English: Germany will ensure that, for balance‐sheet purposes, the BGB group will, in accordance with the rules set out below, sell or liquidate by 31 December 2005 at the latest all holdings in real estate service companies that are covered by the risk shield of 16 April 2002. By 31 December 2004 the Land and the bank will definitively determine those holdings in real estate service companies that appear suitable for sale to third parties.
Lithuanian: Vokietija užtikrina, kad BGB koncernas pagal balansą parduos arba likviduos visas akcijų dalis nekilnojamojo turto paslaugų bendrovėse, kurios buvo išvardytos 2002 m. balandžio 16 d. Rizikos saugos susitarime, vadovaudamasis šiomis nuostatomis, ne vėliau kaip iki 2005 m. gruodžio 31 d.
English: The purchase price will be determined by 31 March 2005 on the basis of a valuation carried out by an independent auditor commissioned by the Land, with a subsequent review by an independent auditor appointed by the bank. This will take place on the basis of recognised valuation procedures.
Portuguese: O preço de aquisição será determinado até 31 de Março de 2005 no âmbito de uma avaliação a efectuar por um auditor independente nomeado pelo Land com subsequente verificação por um auditor independente nomeado pelo banco, segundo processos de avaliação reconhecidos.
Polish: Cena sprzedaży zostanie określona na podstawie szacunku przeprowadzonego przez niezależnego biegłego rewidenta wskazanego przez kraj związkowy oraz po sprawdzeniu przez niezależnego biegłego rewidenta określonego przez bank do 31 marca 2005 r. Czynności te zostaną przeprowadzone na podstawie uznanej procedury wyceny.
Lithuanian: Tas akcijų dalis nekilnojamojo turto paslaugų bendrovėse, kurios nebus nei likviduotos, nei parduotos tretiesiems asmenims iki nustatyto balanso sudarymo termino 2005 m. gruodžio 31 d., Berlyno žemė įgis rinkos sąlygomis.
English: The independent value assessments will be sent to the Commission by 31 July 2005 at the latest. The business of the real estate service companies that are to be transferred to the Land or wound up will be confined to the orderly management of the risks covered by the detailed agreement.
Lithuanian: Atsiradus skirtumams tarp abiejų įvertinimų ir nesant vieningos nuomonės tarp sutarties šalių, vertę nustatys trečioji šalis – Vokietijos audito įstaigos „Institut der Wirtschaftsprüfer in Deutschland e.V.“, auditoriai.
English: In order to avoid a heavy land transfer tax burden, a remaining holding of not more than 6 % in Immobilien- und Baumanagement der Bankgesellschaft Berlin GmbH (IBG) may remain within the Bankgesellschaft group. The group will not, however, have any influence over the management of IBG.
Lithuanian: Žemei perduoti arba likviduoti numatytų nekilnojamojo turto paslaugų bendrovių komercinė veikla apsiribos tinkamu valdymu, kad galima būtų sutvarkyti Detaliojo susitarimo padengtą riziką.
English: Moreover, Immobilien und Beteiligungen Aktiengesellschaft (IBAG) can remain within the Bankgesellschaft group following the change of trade name and re-orientation of the Work‐out‐Competence Center as the holding company for the companies on the so‐called negative list (companies excluded from the risk shield) in which the Bankgesellschaft group has shares. Apart from its function as the holding company for the companies on the negative list for the orderly administration and winding-up of the risks resulting from these companies and as the Work‐out‐Competence Center in connection with the liquidation of real estate financing, IBAG will, however, no longer carry on any real estate service business.Article 2(1)(d)
Swedish: IBAG Immobilien und Beteiligungen Aktiengesellschaft (”IBAG”) kan dessutom kvarstå i bankkoncernen, efter att ha bytt firmanamn och fått en ny inriktning som Work-out-Competence Center och holdingföretag för de företag på de s.k. negativlistorna som inte omfattas av riskgarantin och som bankkoncernen äger andelar i. Genom sin funktion som holdingföretag för företagen på de s.k. negativlistorna, för att vederbörligen förvalta och avveckla riskerna i dessa företag, och som Work-out-Competence Center skall IBAG dock, förutom i samband med avvecklingen av fastighetsfinansieringar, inte längre bedriva någon verksamhet på området fastighetstjänster.
Lithuanian: Bankas į šias bendroves investuos tiek, kiek bus reikalinga toms užduotims atlikti.
English: The IBB special reserve of Landesbank Berlin will be used, to the extent possible on 1 January 2004, to provide capital for the new development bank and will, therefore, be hived off from Landesbank, without the core‐capital ratio (tier one) within the Bankgesellschaft group (following the hiving‐off of IBB) falling below 6 %, but not for an amount of more than EUR 1,1 billion. The part of the IBB special reserve that may still be necessary to provide capital for the Bankgesellschaft group in accordance with the above paragraph will be injected into LBB by the Land of Berlin directly or indirectly as a contribution in kind (which may, however, not exceed EUR 1,1 billion) in the form of one or more dormant holdings ranking as core capital.
Lithuanian: Tačiau dėl to Banko bendrovės koncernas neturės jokių galimybių daryti kokią nors įtaką IBG bendrovės reikalų valdymui.