FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: This total volume of market distortion lay between the best‐ and worst‐case scenarios for the actual cover provided by the Land of Berlin under the risk shield (EUR 2,7 billion and EUR 6,1 billion respectively). In determining the market distortion caused by the risk shield, the Commission should therefore take as a basis the value established for IBAG’s new business up to the end of the restructuring period, i.e. EUR [...]*.
French: Ce volume total de distorsion du marché se situe entre 2,7 milliards d'euros, dans le scénario le plus favorable de l'intervention effective du Land de Berlin au titre de cette protection, et 6,1 milliards d'euros selon l'hypothèse la plus pessimiste.
Italian: In ogni caso, la distorsione del mercato derivante dalla copertura contro i rischi potrebbe altrimenti essere stabilita sulla base di un valore di sovvenzione di tale copertura corrispondente allo scenario «worst case» (6,07 miliardi di EUR).
Dutch: Dit totaalbedrag voor de marktverstoring ligt tussen het gunstigste scenario voor het daadwerkelijke beroep dat op de deelstaat Berlijn uit hoofde van het risicoschild zal worden gedaan ((2,7 miljard EUR) en het ongunstigste scenario (6,1 miljard EUR).
Slovenian: Zatorej se zdi primerno, da Komisija pri določanju izkrivljanja tržnih razmer, ki ga povzroči omejitev tveganja uporabi nov posel družbe IBAG do sklenitve faze prestrukturiranja v vrednosti [...]* EUR. Vsekakor bi lahko mogoče namesto tega določiti izkrivljanje tržnih razmer zaradi omejitve tveganja na osnovi vrednosti pomoči za omejitev tveganja, ki ustreza najslabšemu scenariju (6,07 milijarde EUR).
English: As a result, the average own‐funds ratios of Land banks/saving banks would ceteris paribus increase from 9,6 % to around 10,9 % in 2006. The restructuring plan estimates BGB’s own‐funds ratio in 2006 at [...]* %; on this basis, BGB’s own resources cushion would be reduced to no more than around [...]* %.
French: De ce fait, le taux moyen des ratios de fonds propres de ces établissements devrait, toutes choses égales d'ailleurs, passer de 9,6 % à environ 10,9 % en 2006, ce qui réduira la marge de fonds propres de BGB si l'on retient le ratio de fonds propres prévu dans le plan d'assainissement pour 2006, de [...]* % à environ [...]* % seulement.
English: Unlike in previous cases decided by the Commission, however, the aid recipient here operated on a limited regional scale so that the effect of the aid was concentrated on only a few competitors. These would be hit all the harder by the distortive effects, especially Berliner Volksbank, which competed with the BGB right across its business.
French: Cependant, contrairement à ce qui était le cas dans les affaires sur lesquelles la Commission avait statué précédemment, le bénéficiaire a en l'espèce des activités limitées à l'échelon régional et les aides n'affectent qu'un petit nombre de concurrents, qui ressentiraient donc d'autant plus les distorsions de la concurrence, et en particulier Berliner Volksbank, qui est en concurrence avec BGB pour ses trois secteurs d'activité.
English: But this was not apparent. The Land guarantee for risks in the property sector was an unlimited additional funding commitment since the Land of Berlin’s associated liability could not currently be estimated and was therefore a ‘blank cheque’ for future losses.
French: La garantie du Land pour les risques liés au secteur de l'immobilier revient à une obligation illimitée de financement supplémentaire, car l'obligation d'intervention du Land de Berlin ne peut actuellement être évaluée et revient donc à signer un «chèque en blanc» pour couvrir les pertes futures.
English: It was also unclear whether the bank could build on a sound customer basis at all. The Berliner Bank brand had weaknesses in this respect.
French: On peut se demander du reste si cette dernière peut effectivement se fonder sur une base de clientèle solide; ainsi, la marque «Berliner Bank» présente certaines faiblesses à cet égard.
English: There were no substantial financial resources that had been built up through alleged aid. Otherwise the group would not be in difficulties.
French: Il n'y a pas de ressources financières considérables qui seraient constituées par de prétendues aides; dans ce cas, le groupe n'aurait en effet pas de difficulté à se maintenir en vie.
English: In the Federal Government’s communications, the results of each business segment for the period 2001 to 2006 were consistently shown separately and were derived in comprehensible stages. The general layout followed the same pattern: total earnings, operating result before and after provision for risks, and pre‐tax profit.
French: Dans ses communications, le gouvernement fédéral présente séparément les résultats de chaque secteur pour la période 2001‐2006 en les ventilant comme suit: total des revenus, résultat d'exploitation avant et après provision pour risques, et bénéfice avant impôts.
English: According to Germany and the bank, the binding requirement to sell BerlinHyp separately in the medium term would have the following adverse effects on the rest of the group and would impose the following requirements, which could not necessarily be met by the buyer.
French: Selon l'Allemagne et la banque, une stricte obligation de vendre BerlinHyp séparément à moyen terme aurait les effets négatifs suivants sur le reste du groupe et imposerait les exigences suivantes, que l'acquéreur ne pourrait pas nécessairement remplir.
Slovak: Keby sa banka pevne zaviazala separátne predať BerlinHyp v strednodobom horizonte, malo by to podľa údajov Nemecka a banky nasledujúci negatívny vplyv na zvyšnú časť koncernu, resp. mohlo by to vyvolať tieto požiadavky, ktoré by kupujúci nemusel dokázať splniť: kupec by musel prevziať v plnom rozsahu interné koncernové refinancovanie (momentálne [...] EUR) za porovnateľných podmienok, t. j. jeho rating by musel byť aspoň taký dobrý ako rating Landesbank Berlin, a prevziať aj patronát BGB za BerlinHyp, aby sa vyhol započítaniu veľkých úverov (súčasne odhadovaný objem: cca.
Lithuanian: Privalomas įpareigojimas per vidutinį laikotarpį parduoti banką „BerlinHyp“ banką, Vokietijos ir Banko duomenimis, turėtų neigiamą atgręžtinį poveikį likusiam koncernui ir keltų pirkėjui nebūtinai įvykdomus reikalavimus.
English: As far as possible, the buyer would have to take over the group’s internal refinancing (currently EUR [...]*) on similar terms, i.e. it must possess a rating at least as good as that of Landesbank Berlin, and to assume responsibility for BGB's guarantee for BerlinHyp in order to avoid applying the methodology for large credits (currently estimated at around EUR [...]*).
French: L'acquéreur devrait reprendre autant que possible le refinancement interne du groupe (actuellement [...]* euros) à des conditions comparables, c'est‐à‐dire posséder une notation au moins aussi bonne que la Landesbank Berlin, ainsi que la garantie fournie par BGB pour BerlinHyp, afin d'éviter de devoir appliquer la méthode prévue pour les gros crédits (estimés actuellement à environ [...]* euros).
Slovak: [...] EUR).
Lithuanian: Pirkėjas turėtų perimti koncerno vidaus refinansavimą (šiuo metu [...]* eurų) palyginamomis sąlygomis, t. y. turėti bent tokio lygio reitingą kaip bankas „Landesbank Berlin“, ir perimti BGB banko globą, skirtą bankui „BerlinHyp“, kad būtų išvengta didžiųjų kreditų priskaičiavimų (šiuo metu apie [...]* eurų).
English: It drew attention to the minimum capital ratios required by law, which might provide a rough guide for the assessment of compensatory measures in the banking sector.
French: La Commission attirait l'attention sur les ratios de fonds propres minimaux exigés par la loi, qui pouvaient servir d'orientation pour évaluer les contreparties dans le secteur bancaire.
English: The argument is as follows.
French: Le raisonnement est le suivant.
English: The amount of the capital injection in 2001 was absolutely necessary to maintain the bank’s core‐capital ratio.
French: Le montant de l'injection de capital de 2001 était absolument nécessaire pour maintenir le ratio de fonds propres de base de la banque.
Polish: Zasilenie kapitałem w roku 2001 jest konieczne dla zachowania współczynnika kapitału podstawowego banku w wyżej wymienionej wysokości.
English: In the assessment of restructuring aid as a whole, it can therefore be regarded as corresponding to the strict minimum and can thus be approved.
French: Dans l'appréciation de l'aide à la restructuration dans son ensemble, on peut donc considérer qu'elle correspond au strict minimum et elle peut donc être autorisée.
Polish: Ponadto może ono także w ramach oceny jako pomoc restrukturyzacyjna zostać ograniczone całościowo do koniecznego minimum i w ten sposób zaakceptowane.
English: This put it in tenth place among German banks in 2001 and in twelfth place in 2002. It employed some 17000 people in 2000, a little over 15000 in 2001 and about 13000 in 2002.
Slovak: EUR. Zaujímala tým desiate (2001), resp. dvanáste miesto (2002) medzi nemeckými bankami; počet zamestnancov dosahoval približne 17000 v roku 2000, dobrých 15000 v roku 2001 a približne 13000 v roku 2002.
Hungarian: Ezzel a német bankok között a tizedik (2001), illetve tizenkettedik (2002) helyet foglalta el; dolgozói létszáma 2000. évben 17000 alkalmazottra rúgott, 2001. évben jó 15000 főre, 2002-ben pedig mintegy 13000 főre.
Latvian: Tādējādi tā ieņēma desmito vietu (2001. gadā) un divpadsmito vietu (2002. gadā) Vācijas banku ranga tabulās; darbinieku skaits 2000. gadā bija apmēram 17000, 2001. gadā — vairāk kā 15000 un 2002. gadā — apmēram 13000.
Lithuanian: Ši bendrovė tarp Vokietijos bankų užėmė dešimtąją (2001 m.) ir dvyliktąją vietą (2002 m.); 2000 m. bendrovėje dirbo apie 17000 darbuotojų, 2001 m. – 15000 ir 2002 m. – maždaug iki 13000 darbuotojų.
English: Prior to 2000 IBG set up an increasing volume of real estate funds. Investors in these funds were given extensive guarantees, particularly long‐term guarantees regarding rent, dividends and renewal.
Hungarian: Az IBG 2000-ig növekvő mértékben bocsátott ki ingatlanbefektetési alapokat Ennek során a befektetőknek széles körű garanciákat, mindenekelőtt sok éves bérleti, osztalékfizetési, valamint újjáépítési garanciákat nyújtottak.
English: Article 45 of the detailed agreement sets the maximum liability that may be incurred by the Land of Berlin as a result of these obligations at EUR 21,6 billion. It states that this is the theoretical nominal value of the risks covered, adjusted for duplication. In the agreement in principle, the ceiling was set at EUR 35,34 billion because the guarantees listed above sometimes covered the same risks.
Hungarian: A részletes megállapodás 45. cikkében a legnagyobb összeget, mely e kötelezettségekből kifolyólag Berlin tartomány számára adódhat, 21,6 milliárd EUR-ban számszerűsíti.
Lithuanian: Detaliojo susitarimo 45 straipsnyje nurodyta didžiausia suma, kuri Berlyno žemei susidaro pagal šiuos įsipareigojimus, siekia 21,6 mlrd. eurų.
English: Simplifying the group and management structures and introducing efficient control systems involved, among other things, structural improvements in the areas of corporate governance, risk control, control/management of the real estate services subsidiaries and alignment of the IT infrastructure. Under the new structure, BGB itself would in future cover wholesale and real estate financing activities and centralise the staff.
Hungarian: A konszern- és vállalatvezetési szerkezetek egyszerűsítése és a hatékony kontrollingrendszerek bevezetése többek között a corporate governance, a kockázatkontrolling, az ingatlanszolgáltatással foglalkozó leányvállalatok kontrolling/vezetési területén végrehajtott szerkezetjavításokban, és az IT-infrastruktúra homogenizálásában áll. Az új szerkezet abban áll, hogy a BGB a jövőben maga fogja át a whole sale és az ingatlanfinanszírozási üzletágakat és centralizálja a munkaegységeket.
English: The question of surplus capacity could not be answered conclusively as yet. A sharpening of competition and an increasing marginalisation of smaller competitors such as BGB to the benefit of larger providers were, however, expected.
Polish: Wprawdzie nie da się obecnie kompleksowo odpowiedzieć na pytanie o przerost zdolności produkcyjnych, ale należy spodziewać się zaostrzenia konkurencji oraz pogłębiającej się marginalizacji mniejszych podmiotów, biorących udział w grze konkurencyjnej, jak na przykład BGB, na korzyść większych oferentów.
Hungarian: A kapacitásfeleslegek kérdése jelenleg még nem válaszolható meg véglegesen, azonban a verseny kiélesedése és az olyan kis versenytársak, mint a BGB növekvő kiszorulása várható a nagyobb kínálati szereplők javára.
English: The restructuring plan to overcome the bank’s structural and operational deficits consists, on the one hand, of measures for the disposal, merger and liquidation of subsidiaries or business areas with a view to the future concentration of the bank on its core business and, on the other, of measures to increase the efficiency and profitability of the core business (reorganisation sphere) itself through cost reductions, concentration of activities and reduction of risk positions. Some of the restructuring measures, both within and outside the core business, may be regarded simultaneously as measures to compensate competitors in so far as they result in a reduction in the bank’s market presence.
Hungarian: A bank strukturális és operatív hiányosságainak megszüntetését szolgáló szerkezetátalakítási terv egyrészt a bank magüzletére való jövőbeli koncentrációjához leányvállalatok vagy üzletágak értékesítésére, összevonására vagy felszámolására vonatkozó intézkedésekből, másrészt maga a magüzletág (szanálási kör) hatékonyságának és jövedelmezőségének költségcsökkentésekkel, tevékenységek koncentrációja és kockázatos pozíciók visszaállítása általi növelését célzó intézkedésekből áll. Néhány szerkezetátalakítási intézkedés, mind a magüzletágon belül, mind azon kívül, egyidejűleg a versenytársak kompenzálását szolgáló intézkedésnek is tekinthető, amennyiben azok a bank piaci jelenlétének csökkentését eredményezik.
English: Total earnings from 2001 to 2006 are set to rise by just over [...]* % to [...]*. Total administrative expenditure during the same period should, however, fall by about [...]* %.
Hungarian: A bevételek összege a 2001-től 2006-it [...] %-kal [...], az adminisztrációs költségek összege ezzel szemben ugyanebben az időszakban [...] %-kal kell, hogy csökkenjen.
English: Thus, the planned tax savings in 2006 were reduced to only a minimal extent, by EUR [...]*, from EUR [...]* (according to the medium‐term plan of 24 June 2003) to EUR [...]* (on the new calculation) and could, therefore, be achieved by the bank generally without any significant change in the planned magnitudes. The medium‐term plan of 24 June 2003 was based on a target rating of [...]* for the group and a return on capital of [...]* % in 2006.
Hungarian: A 2003. június 24-i középtávú tervezet egy a konszern számára adott [...] célhitelminősítésen és a 2006. évre egy [...] %-os tervezett sajáttőkehozamon alapul.
English: The exemption in Article 87(3)(c) of the EC Treaty is subject to the condition that the aid must not adversely affect trading conditions to an extent contrary to the common interest. According to points 35 to 39 of the guidelines, measures must be taken to mitigate as far as possible any adverse effects of the aid on competitors.
Hungarian: Az EK-Szerződés 87. cikke (3) bekezdésének c) pontja szerinti kivételszabály azon feltétel függvénye, hogy a támogatások a kereskedelmi feltételeket nem változtatják meg oly módon, mely a közös érdekkel ellentétben áll. Az iránymutatások 35—39. pontjai meghatározzák, hogy intézkedéseket kell foganatosítani annak érdekében, hogy a támogatás versenytársakra nézve hátrányos hatásait lehetőség szerint enyhítsék.
English: Article 2(1)(c) 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. These holdings are to be sold by way of a transparent, open and non‐discriminatory tendering procedure.
Hungarian: A 2. cikk (1) bekezdésének c) pontjához
English: The real risk is estimated at EUR 2,7 billion in the best‐case scenario, at EUR 3,7 billion in the base‐case scenario and at EUR 6,1 billion in the worst‐case scenario. The assumptions on which these estimates are based were communicated in the course of the procedure (see paragraph 138).
Italian: Di conseguenza, nel migliore dei casi («scenario best case») il rischio effettivo corrisponderà a 2,7 miliardi di EUR, nel «caso base» («scenario base-case») a 3,7 miliardi di EUR, mentre nel peggiore dei casi (il cosiddetto «scenario worst-case») a 6,1 miliardi di EUR. Le supposizioni su cui si fondano tali valori di stima sono state rese note nel corso del procedimento (cfr. considerando 138).
Slovenian: Po tem bo dejansko tveganje znašalo v najboljšem primeru („best-case“ scenarij), 2,7 milijarde EUR, v „osnovnem primeru“ („base-case“ scenarij) 3,7 milijarde EUR in v najslabšem primeru („worst-case“ scenarij) 6,1 milijarde EUR. Domneve, ki vodijo do teh ocenjenih vrednosti, so bile sporočene med postopkom (glej obrobno številko 138).
English: In the course of the proceedings, Germany stated that BGB had examined very closely the possibility of further compensatory measures. However, apart from the sale of the real estate services business — promised at an earlier stage, but not part of the original plan — no further compensation was possible [...]*.
Italian: La Germania ha comunicato, nel prosieguo del procedimento, che la BGB ha esaminato in dettaglio la possibilità di adottare ulteriori misure di compensazione, precisando tuttavia che non sono possibili altre controprestazioni [...]*, oltre all'alienazione del settore servizi immobiliari, promessa inizialmente in aggiunta al piano originario.
English: However, Germany argued that the assumption that a core capital injection of EUR 1 billion could boost the risk‐adjusted assets by up to EUR 25 billion could not be inferred directly from the basic rules of banking supervisory legislation. Only if core and supplementary capital were injected simultaneously could a bank boost its risk‐adjusted assets by 25 times the amount of the core capital injection.
Italian: Secondo quanto indicato dalla Germania, sulla base delle condizioni quadro vigenti in materia di norme di vigilanza, non può essere tratta con sicurezza la supposizione che, con un apporto di patrimonio di base pari a 1 miliardo di EUR, l'attivo rilevante ai fini dei rischi possa essere aumentato fino a 25 miliardi di EUR. Solo grazie al contemporaneo apporto di capitale di base e di capitale integrativo una banca può aumentare di 25 volte il proprio attivo rilevante ai fini dei rischi, rispetto alla somma corrispondente al patrimonio di base concesso.
Polish: Zdaniem Niemiec z punktu widzenia przepisów o nadzorze bankowym nie można zakładać, że poprzez zasilenie kapitału podstawowego w wysokości 1 mld EUR aktywa ważone ryzykiem wzrosną o nawet 25 mld EUR. Tylko w przypadku jednoczesnego zasilenia kapitału podstawowego i uzupełniającego bank mógłby zwiększyć swoje aktywa ważone ryzykiem o 25-krotność kwoty zasilenia kapitału podstawowego.
Lithuanian: Vokietija prielaidą, kad pagrindinio kapitalo 1 mlrd. eurų dydžio injekcija galima padidinti rizikos požiūriu įvertintus aktyvus 25 mlrd. suma, daro vien tik remdamasi bendrosiomis bankų priežiūros sąlygomis.
English: In its decision to initiate proceedings, the Commission had assumed that BGB enjoyed an extremely strong market position and had drawn appropriate consequences for the determination of compensatory measures. However, this assumption, based on the information then available, was not borne out by the low market shares actually held by BGB. Overall, the proposed measures to offset the market distortion appeared to be appropriate, even allowing for any possible state aid implications that WBK's assets might have for LBB.
Italian: La Germania ha inoltre comunicato che, per motivi di concorrenza, non è prevista un'alienazione della Berliner Bank prima dell'alienazione delle quote di partecipazione del Land Berlino alla BGB.
Slovenian: Nemčija je nadalje navajala, da odsvojitev Berliner Bank pred odsvojitvijo deležev, ki jih ima dežela Berlina v BGB, iz konkurenčnih razlogov ni nakazana.
English: Germany also argued that on competition grounds it was inadvisable to sell Berliner Bank before selling the Land of Berlin’s shares in BGB. The remedies in the retail sector were sufficient: divestment of Weberbank, Allbank and the foreign subsidiaries BGB Polska and Zivnostenska Banka, the relinquishing of the six German private customer centres and the closure of around 90 branches, predominantly in Berlin.
Italian: Le controprestazioni nel settore delle attività bancarie al dettaglio sono sufficienti, grazie alla scissione della Weberbank, Allbank e della filiale estera BGB Polska e Zivnostenska Banka nonché alla cessazione di attività dei 6 centri tedeschi per clienti privati ed alla chiusura di circa 90 filiali, prevalentemente a Berlino.
Slovenian: Kot dolžnost na področju poslovanja z občani naj bi odcepitev Werbebank, Allbank und hčerinskih družb v tujini BGB Polska in Zivnostenska Banka ter opustitev 6 centrov za zasebne stranke in zaprtje približno 90 podružnic, v glavnem v Berlinu, zadostovalo.
Latvian: Tālāk Vācija klāstīja, ka Berliner Bank atsavināšana, pirms tiek atsavinātas Berlīnes pavalstij piederošās BGB kapitāla daļas, ar konkurenci saistītu iemeslu dēļ neesot ieteicama. mazumtirdzniecības banku pakalpojumu jomā veiktie pretpasākumi sakarā ar Weberbank, Allbank un BGB ārvalstu meitas uzņēmumu Polska un Zivnostenska Banka atdalīšanu, kā arī atteikšanos no 6 iekšzemes klientu apkalpošanas centriem un apmēram 90 filiālēm galvenokārt Berlīnē esot pietiekami.
English: The financial burden imposed by the BGB restructuring plan on the Land of Berlin is — as will be shown below — lower than in the scenario involving use of only the existing state guarantees (institutional liability and guarantor liability) for Land banks. This fact, however, does not imply that the measures taken in favour of BGB are in line with the market‐economy investor principle and would consequently not constitute state aid.
Italian: Gli aggravi finanziari a carico del Land Berlino, determinati dalla concessione degli aiuti alla ristrutturazione a favore della BGB sono inferiori, come illustrato nel prosieguo del testo, rispetto agli oneri che sarebbero insorti in caso di applicazione delle garanzie per le banche regionali, nonché dei principi di «Anstaltlast» (principio secondo il quale gli enti territoriali che costituiscono un ente pubblico con autonomia patrimoniale devono dotarlo dei mezzi necessari per il perseguimento del relativo scopo, rispondendo eventualmente dei suoi debiti e con l'obbligo di rifinanziarlo e mantenere la relativa liquidità) e di responsabilità del garante, in vigore ancora fino al 2005.
English: In any event, the Commission agrees with the assessment by Germany that a sudden insolvency would basically have resulted in significantly more job losses than an orderly and longer‐term restructuring because a sudden insolvency would have led to ‘fire sales’ and the closure of areas of business that could be restructured. Account also has to be taken of the indirect job losses resulting from domino effects.
Italian: Si concorda tuttavia con la Germania nella valutazione che, in linea di massima, un'insolvenza improvvisa avrebbe determinato la perdita di molti più posti di lavoro di quella connessa con una ristrutturazione effettuata nel lungo termine, in quanto nel primo caso si sarebbe giunti alle cosiddette «fire sales» e chiusure dei settori ristrutturabili.