FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: Germany submitted its own comments after the opening of the formal investigation procedure on 28 March and 10, 16, 23 and 30 April 2008. One observation from a third party was received on 16 April 2008. Germany submitted its comments on this third-party observation by letter of 30 April 2008.
Polish: Niemcy zajęły stanowisko w sprawie wszczęcia formalnego postępowania wyjaśniającego w pismach z dnia 28 marca oraz 10, 16, 23 i 30 kwietnia 2008 r. Zainteresowane strony zgłosiły swoje uwagi w piśmie z dnia 16 kwietnia 2008 r. Niemcy odniosły się do tych uwag w piśmie z dnia 30 kwietnia 2008 r.
English: Germany provided different scenario calculations to demonstrate that the sale of the bank resulted in a positive price for the owners, even if the base default scenario of the guarantee was considered. It argued that it was the Commission’s constant practice to rely on the base case scenario rather than a worse case scenario [21].
Polish: Niemcy przedstawiły obliczenia dla różnych scenariuszy w celu udowodnienia, że gdyby sami właściciele skorzystali z gwarancji to w przypadku wariantu podstawowego base case, otrzymaliby pozytywną cenę sprzedaży banku, przy założeniu, że stałą praktyką Komisji jest powoływanie się na warianty podstawowe base case, a nie na scenariusze pesymistyczne [21].
English: The market conditions in December 2007 and in August 2007 were substantially different. There was virtually no investor in August that would have been willing to invest in a conduit such as the Super SIV.
Polish: Sytuacja rynkowa w grudniu 2007 r. uległa znacznej zmianie w stosunku do sierpnia 2007 r. W sierpniu 2007 r. nie było w zasadzie żadnych innych inwestorów gotowych zainwestować w taki fundusz, jakim była „super-SIV”.
English: SIVs have been used because they can remain off balance sheet and not be consolidated by banks. This allows banks to fund lending at cheaper rates than those they would provide themselves (due notably to the obligations of regulatory liquidity ratios).
Portuguese: Os SIV têm sido usados porque podem permanecer fora do balanço, não sendo consolidados pelos bancos, o que lhes permite emprestarem fundos a taxas mais baixas do que aquelas que eles próprios praticam (devido em grande parte aos requisitos em matéria de rácios de liquidez exigidos por lei).
English: Therefore, no new international capital market activities will be performed by Sachsen LB. Only the assets of the second portfolio of EUR 11,8 billion remain in LBBW. On this basis the projections indicate that the bank will restore its profitability within the restructuring period of four years.
Portuguese: Deste modo, o Sachsen LB deixará de realizar actividades no mercado internacional de capitais e apenas permanecerão no LBBW os títulos da segunda carteira no valor de 11,8 mil milhões EUR. Consequentemente, as projecções indicam que o banco irá sair da sua situação deficitária durante o período de reestruturação de quatro anos.
English: The risk assumed by the banking pool for a remuneration of […] bps — especially given that there was in reality no one willing to give liquidity to these conduits at the time — was therefore not market conform. In December, market conditions had improved, however, and there were again investors buying asset-backed CPs.
Portuguese: O risco assumido pelo consórcio bancário em contrapartida de uma remuneração de […] pontos de base não estava portanto em conformidade com o mercado, sobretudo porque nessa altura, não havia ninguém disposto a oferecer liquidez a esses conduits Em Dezembro, as condições de mercado tinham entretanto melhorado e voltaram a aparecer investidores dispostos a comprar papel comercial com garantia real.
English: Sachsen LB Europe is a well established service provider for structured financial investments with considerable know-how, independently from the fact that some of its portfolios turned loss making in the market turmoil. Sachsen LB Europe could have continued activities for third parties, thereby generating commission income for Sachsen LB/LBBW.
Portuguese: O Sachsen LB Europe é um prestador de serviços de investimentos financeiros estruturados solidamente estabelecido, com um know-how considerável, independentemente do facto de algumas das suas carteiras sob sua gestão terem sido deficitárias durante a crise que assolou os mercados e poderia ter continuado as actividades para terceiros, gerando assim receitas de comissões para o Sachsen LB/LBBW.
English: 2012 CAGR 2007-2012
Slovak: CAGR 2007-2012
English: From a commercial point of view, the risk undertaken by LBBW and the other Landesbanken can therefore be regarded as limited, and the same conclusion can be drawn as regards the risk to the State above and beyond the exposure of EUR 2,75 billion through the Free State of Saxony’s guarantee. Given that the interest paid to LBBW and the other Landesbanken is at market level, there are in this very particular case no grounds for considering that the refinancing would not be in line with market terms.
Slovenian: To velja tudi za tveganje, ki ga je država prevzela glede jamstva Zvezne dežele Saška v višini 2,75 mrd EUR. Ker so LBBW in druge deželne banke dobile plačilo običajnih tržnih obresti, v tem povsem samosvojem primeru ni nobenega razloga, da ne bi refinanciranje obravnavali kot izvedeno po tržnih načelih.