FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: the rise in the cost of funding was simulated over a shorter period of […]. In this respect, the Commission notes that certain factors, such as Dexia’s CDS or the cost of long-term senior unsecured funding increased by more than […] basis points and for a period exceeding […].
Estonian: Selles osas märgib komisjon, et teatavad elemendid, nagu Dexia krediidiriski ülekandetehingute või pikaajaliste kõrgema nõudeõiguse järguga tagamata võlakirjadega (senior unsecured) rahastamise kulu, kasvasid enam kui […] baaspunkti võrra perioodi vältel, mis ületas […].
English: Dexia was formed in 1996 by the merger of France’s Crédit Local and Belgium’s Crédit communal.
Swedish: Dexia grundades 1996 genom fusionen mellan Crédit Local de France och Crédit Communal de Belgique.
Finnish: Se perustettiin vuonna 1996 Crédit Local de Francen ja Crédit communal de Belgiquen sulautuessa.
English: The REV at 31 January 2009 was USD [9,2-10,2] billion under a baseline scenario and USD [7,7-8,7] billion under a stress scenario. IV. THE RESTRUCTURING PLAN
Finnish: IV RAKENNEUUDISTUSSUUNNITELMA
English: Table 6 Reduction in the size of the group’s balance sheet, the core division and the LPMD
Finnish: Konsernin, ydindivisioonan ja LPMD-toiminnan taseen supistaminen
Slovenian: Znižanje bilančne vsote skupine, glavnega sektorja in sektorja za upravljanje preostanka portfelja (LPMD)
English: Also see its decision in the Shetland Shellfish case (Decision 2006/226/CE ( OJ L 81, 18.3.2006, p. 36)).
Finnish: Ks. myös komission päätös asiassa Shetland Shellfish (päätös 2005/336/EY ( EUVL L 81, 18.3.2006, s. 36).
Hungarian: Lásd még a Shetland Shellfish ügyben hozott bizottsági határozatot (2006/226/EK határozat, HL L 81., 2006.3.18., 36. o.).
Romanian: A se vedea, de asemenea, decizia stabilită în cazul Shetland Shellfish [Decizia 2006/226/CE ( JO L 81, 18.3.2006, p. 36)].
English: The Commission rejected two reports produced by the public authority in Shetland with a view to the investment, which contained a projected profit-and-loss account, a projected balance sheet and a projected cash flow statement for 2000, 2001 and 2002.
Finnish: Komissio torjui Shetlandinsaarten viranomaisten toimittamat kaksi raporttia, jotka koskivat investointipäätöstä ja joihin sisältyi ennakoitu tuloslaskelma, ennakoitu tase ja ennakoitu rahavirtalaskelma vuosiksi 2000, 2001 ja 2002.
Hungarian: A Bizottság elutasította a shetland-szigeteki hatóság által a 2000., a 2001. és a 2002. évre vonatkozóan készített előzetes eredménykimutatást, előzetes mérleget és pénzforgalmi táblázatot tartalmazó két befektetési jelentést.
Romanian: Comisia a respins două rapoarte trimise de autoritatea publică a insulelor Shetland în vederea investiției, care conțineau un cont de venituri previzional, un bilanț previzional și un tablou al fluxurilor de trezorerie previzionale pentru anii 2000, 2001 și 2002.
English: The third type of stress test carried out by Dexia was designed to test the group liquidity and more specifically the group liquidity position in exceptional circumstances, by comparing the liquidity potentially required with the liquidity potentially available in such circumstances. The stress test horizon is one month.
French: Le troisième type de stress test réalisé par Dexia visait à tester la liquidité du groupe, et plus particulièrement la position de liquidité du groupe dans des circonstances exceptionnelles, en comparant la liquidité potentiellement requise avec la liquidité potentiellement disponible dans de telles circonstances.
English: […] [14] […].
French: Ce stress test de liquidité a été entrepris tant par Dexia que par son autorité de contrôle (la Commission bancaire, financière et des assurances, ci-après la «CBFA») […] [14] […].
English: It is important to specify that the Commission based its analysis on the results of the tests as submitted by the Member States concerned. […].
French: Il est important de préciser que la Commission a basé son analyse sur les résultats des tests tels que soumis par les États membres concernés […].
English: However, the bulk of the funding in this period is between 1 and 2 years. […].
French: Toutefois, l’essentiel du financement dans cette période se situe entre 1 et 2 ans […].
English: Moreover, the Commission also notes that the suspension of payment of a dividend does not apply to the distributions of dividends undertaken entirely by allocation of new shares. However, it should be noted that the payment of dividends by allocation of new shares, made possible by the generation of profits available for distribution, is not contrary to the Restructuring Communication in so far as such payment would be posted to Dexia’s accounts as incorporation in the reserve capital and a distribution of dividends taken from the profit of the last completed financial year and contributed by the shareholders to Dexia’s capital.
French: Par ailleurs, la Commission note également que la suspension de paiement d’un dividende ne s’applique pas aux distributions de dividendes entièrement réalisées par attribution d’actions nouvelles Il convient de noter cependant que le paiement de dividendes par attribution d’actions nouvelles, rendu possible par la réalisation de bénéfices distribuables, n’est pas contraire à la communication sur les restructurations dans la mesure où un tel paiement se traduirait dans les comptes de Dexia par une incorporation au capital de réserves et une distribution de dividendes prélevés sur le bénéfice du dernier exercice clôturé et apportés par les actionnaires au capital de Dexia.
English: Subprime
Hungarian: Subprime (másodlagos jelzáloghitel)
Slovenian: Subprime (drugorazredna posojila)
Lithuanian: Antrinės būsto paskolos
English: Option ARMs
Portuguese: Opção ARM
Hungarian: ARM opció
Slovenian: posojila Option ARM
Lithuanian: Pasirinkta tvarka grąžinamos paskolos
English: Prime
Hungarian: Prime (elsődleges jelzáloghitel)
Slovenian: Prime (prvorazredna posojila)
Lithuanian: Pirminės būsto paskolos
English: The portfolio mainly comprises ‘US RMBS standard’, accounting for nearly 64 %, and more specifically ‘subprime’ securities (44 % of the portfolio) and ‘Alt-A’ (15 % of the portfolio). To a lesser extent, the portfolio is also exposed to ‘US Agency RMBS’ (8 % of the portfolio) and to securities enhanced by monoline insurers.
Hungarian: A portfólió elsősorban – közel 64 %-ban – „US RMBS standards” értékpapírokból, és konkrétabban (a portfólió 44 %-át jelentő) „Subprime” értékpapírokból és (a portfólió 15 %-át jelentő) „Alt-A” értékpapírokból áll. A portfólió kisebb mértékben (8 %-ban) „US Agency RMBS” értékpapíroknak és a „monoline” biztosítók által javított hitelminőségű értékpapírokat is tartalmaz.
English: The restructuring plan, notified on 9 February 2010, consists firstly in reducing short-term funding, lengthening the average maturity of long-term funding and increasing the group’s stable sources of funding. In this respect, the Member States concerned undertake to ensure that Dexia complies with three quantitative funding ratios.
Hungarian: A 2010. február 9-én bejelentett szerkezetátalakítási terv először is a rövid távú finanszírozások csökkentéséből, a hosszú távú finanszírozások átlagos élettartamának növeléséből és a csoport stabil finanszírozási forrásainak növeléséből áll. E tekintetben az érintett tagállamok kötelezettséget vállalnak arra, hogy a Dexia tiszteletben tart három mennyiségi finanszírozási mutatót.
English: the nature of the restructuring measures proposed which failed to match up to the requirements under the Commission communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules [23] (‘Restructuring Communication’), the ability of the proposed measures to guarantee that the distortions of competition are limited and that moral hazard is addressed by aid limited to the minimum necessary and appropriate burden-sharing of the costs between the beneficiaries and the Member States concerned.
Hungarian: a javasolt szerkezetátalakítási intézkedések jellege, amelyek elmaradtak „a pénzügyi szektor életképességének helyreállítása és a jelenlegi válságban hozott szerkezetátalakítási intézkedések értékelése az állami támogatási szabályok alapján” című bizottsági közleményben [23] (a továbbiakban: a banki szerkezetátalakításokról szóló közlemény) előírtaktól,a javasolt intézkedések biztosíthatják-e a versenytorzulások korlátozását, valamint az erkölcsi kockázatnak a szükséges minimumra korlátozott támogatásokkal, illetve a kedvezményezettek és az érintett tagállamok közötti megfelelő tehermegosztással történő kezelését.
Slovenian: narave predlaganih ukrepov prestrukturiranja, ki so še naprej presegali zahteve iz Sporočila Komisije o ponovni vzpostavitvi uspešnega poslovanja in oceni ukrepov prestrukturiranja v finančnem sektorju v sedanji krizi na podlagi pravil o državni pomoči [23] (v nadaljnjem besedilu: Sporočilo o prestrukturiranju bank),zmožnosti, da bi se s predlaganimi ukrepi omejilo izkrivljanje konkurence ter da se moralno tveganje zmanjša z omejitvijo pomoči na najnižjo potrebno in ustrezno porazdelitvijo bremen med prejemnike pomoči in zadevne države članice.
Lithuanian: dėl siūlomų restruktūrizavimo priemonių pobūdžio – jos buvo nepakankamos, palyginti su tuo, ko reikalaujama Komisijos komunikate dėl finansų sektoriaus gyvybingumo atkūrimo ir restruktūrizavimo priemonių vertinimo pagal valstybės pagalbos taisykles dabartinės krizės sąlygomis [23] (toliau – komunikatas dėl bankų restruktūrizavimo),dėl siūlomų priemonių tinkamumo užtikrinti, kad konkurencijos iškraipymai būtų nedideli ir kad moralinės rizikos klausimas būtų sprendžiamas teikiant tik būtiną mažiausią pagalbą ir tinkamai paskirstant gavėjams bei suinteresuotosioms valstybėms narėms tenkančias išlaidas.
English: In Italy, according to the information available to the Commission, four banking groups share 80 % of the market, with Dexia in second place (about [20-30] %) after Cassa Depositi et Prestiti (‘CDP’). The other two players are Intesa SanPaolo (14 %) and BNL (10 %).
Hungarian: Olaszországban – a Bizottság rendelkezésére álló információk szerint – négy bankcsoport között oszlik meg a piac 80 %-a, a Dexia a Cassa Depositi et Prestiti (CDP) mögött (mintegy [20–30] %-kal) a második helyen áll. A két másik szereplő az Intesa SanPaolo (14 %) és a BNL (10 %).
English: so that, after the distribution or the payment under consideration (and taking account of any payments which have become mandatory on account of the payment of a dividend in respect of ordinary shares), the Dexia group’s Core Tier 1 (calculated by reference to the latest consolidated annual accounts prepared in accordance with IFRS). (i) remains above or equal to the level below:
Hungarian: i. legalább az alábbi szinten marad; és
English: divestment by 30 June 2010 of DEP, French subsidiary of Dexia Insurance Belgium (‘DIB’), which operates in the fields of life assurance and collective insurance. The sales agreement was signed on 9 December 2009 and the sale should be completed during the first half of 2010;
Italian: cessione entro il 30 giugno 2010 di DEP, controllata francese di Dexia Insurance Belgium («DIB»), attiva nel settore dell’assicurazione vita e dell’ingegneria sociale; la firma dell’accordo di cessione è avvenuta il 9 dicembre 2009 e la vendita dovrebbe essere effettuata durante il primo semestre 2010;
English: The LA provided to Dexia fulfils all the conditions imposed by the ECB. In particular, it meets the requirement that decisions by the national central bank(s) concerned on the provision of LA must be entirely independent and discretionary.
Italian: L’operazione di LA concessa a Dexia soddisfa tutte le condizioni imposte dalla BCE e risponde in particolare all’esigenza in base alla quale la decisione di concedere una LA deve essere presa in modo indipendente e discrezionale dalla banca o dalle banche centrali nazionali interessate.
English: Since the retail banking market is not as concentrated as that of local authority financing in France, Belgium, Italy and Spain, there is less need for measures to limit the distortions of competition. In particular, in Belgium where Dexia has its largest market share, it occupies only third place.
Italian: Poiché il mercato dei servizi bancari al dettaglio non è così concentrato come quello del finanziamento degli enti locali in Francia, Belgio, Italia e Spagna, la necessità di misure mirate a limitare le distorsioni della concorrenza è inferiore, in particolare in Belgio, dove Dexia detiene la quota di mercato più elevata, collocandosi peraltro solo in terza posizione.
Latvian: Tā kā banku mazumtirdzniecības pakalpojumu tirgus nav tik koncentrēts kā vietējo pašvaldību finansēšanas tirgus Francijā, Beļģijā, Itālijā un Spānijā, nepieciešamība pēc konkurences kropļojumu ierobežošanas pasākumiem tajā nav tik izteikta, jo īpaši Beļģijā, kur Dexia aizņem vissvarīgāko tirgus daļu, tai pašā laikā atrodoties vien trešajā pozīcijā.
English: Since the guarantee agreement concluded between Dexia and the Member States concerned was due to expire on 31 October 2009, the Member States concerned notified the Commission on 27 October 2009 of the renewal of the guarantee agreement until 28 February 2010, subject to certain adjustments. Information on the changes made to the guarantee agreement was communicated to the Commission on 10 September, 8 October and 27 October 2009.
Lithuanian: Kadangi 2009 m. spalio 31 d. turėjo baigtis Dexia ir suinteresuotųjų valstybių narių sudaryto garantijų susitarimo galiojimas, 2009 m. spalio 27 d. suinteresuotosios valstybės narės pranešė Komisijai apie tai, kad pakoreguoto garantijų susitarimo galiojimas pratęstas iki 2010 m. vasario 28 d. Informacija apie garantijų susitarimo pakeitimus Komisijai perduota 2009 m. rugsėjo 10 d., spalio 8 d. ir 27 d.
English: Asset categories Nominal value Market value
Lithuanian: lentelė
English: Expected losses (baseline) Expected losses (stress)
Lithuanian: Pagrindiniai FSAM portfelio (viso) duomenys
English: RMBS standard (without ‘wrap’)
Lithuanian: Standartiniai būsto hipoteka užtikrinti vertybiniai popieriai (be „wrap“)
English: Alt-A
Slovenian: Posojila Alt-A
Lithuanian: Alternatyvūs A vertybiniai popieriai
English: ABS CDO
Lithuanian: Užstatu užtikrinti skoliniai įsipareigojimai, kylantys iš turtu užtikrintų vertybinių popierių
English: US Agency RMBS 1338
Lithuanian: JAV būsto hipoteka užtikrinti vertybiniai popieriai
English: Key data of the FSAM portfolio (after deduction of the excluded assets) Asset categories
Swedish: Viktigaste uppgifterna om FSAM:s portfölj (efter avdrag för uteslutna tillgångar)
Lithuanian: Pagrindiniai FSAM portfelio duomenys (atskaičius neįtrauktą turtą)
English: Nominal value Market value
Lithuanian: Turto kategorija
English: As % of total In million USD
Lithuanian: % visos vertės
English: The Commission may take one of the decisions mentioned in the previous paragraph if it considers that such a decision is necessary, for example to maintain effective competition in the market or to restore financial stability in the event of a lasting financial or economic crisis, or if the trend in the economic environment, and notably the exchange rates, or accounting and prudential rules, so justify. Competition and transparency regarding the bank loans of the local authorities
Lithuanian: Siekdama, kad vietos savivaldos institucijų skolinimosi iš banko operacijos būtų atliekamos didesnės konkurencijos ir didesnio skaidrumo sąlygomis, Prancūzija įsipareigoja prižiūrėti, kad apsirūpindamos pinigais ar kapitalu, vietos savivaldos institucijos rengtų konkursus.
English: The State shall expressly issue recommendations along these lines to the local and regional authorities before the end of 2010, concerning both bank finance and the use of complex financial products. These recommendations shall stress the inherent economic interest, in this sector, of implementing competitive procurement measures and shall indicate the different practical arrangements under which these measures can be implemented. The good practices advocated shall provide for the public nature of the competitive procurement for the largest borrowings. These recommendations shall be brought to the attention of the departments responsible for providing the local and regional authorities in particular with assistance and advice.
Lithuanian: Jeigu paaiškėtų, kad šių rekomendacijų nepakanka užtikrinti, kad iki 2013 m. visos vietos savivaldos institucijos parengtų skaidrius ir nediskriminacinius pirkimo konkursus bankų teikiamo finansavimo srityje, Prancūzija įsipareigoja pateikti atitinkamų norminių pasiūlymų.
English: If these recommendations were to prove insufficient to ensure by 2013 the generalisation of transparent, non-discriminatory calls for tender by the local authorities for bank finance, France undertakes to make proposals for legally binding measures to this effect. 23. With a view to boosting competition and transparency still further regarding local authorities’ bank loans, the Belgian Government, in agreement with the Regions, undertakes to monitor the publication by the contracting authorities of contract award notices relating to the financing of the local public authorities.
Lithuanian: Kad vietos savivaldos institucijų skolinimasis iš bankų taptų dar konkurencingesnis ir skaidresnis, Belgijos Vyriausybė, susitarusi su regionais, įsipareigoja prižiūrėti, kaip perkančiosios organizacijos publikuoja skelbimus apie pirkimą, susijusius su vietos savivaldos institucijų finansavimu.
English: remains above or equal to the level below: 31.12.2009
Latvian: pārsniedz vai ir vienāds ar turpmāk norādīto līmeni un
English: (In EUR billion) 31.12.2008
Latvian: (Miljardos euro)
English: The stress test on this last element is useful, as it allows the conclusion to be drawn that it is important that the restructuring plan (i) reduces Dexia’s dependence on market-based financing and (ii) lengthens the average maturity of its funding, with a view to reducing Dexia’s sensitivity to an increase in the cost of funding. This is precisely one of the elements which Dexia’s management took into account between 30 September 2008 and 30 September 2009 and which the restructuring plan aims to cover.
Latvian: Arī šim rādītājam būtu noderīgs stresa tests, jo tas ļautu secināt, ka ir svarīgi, lai pārstrukturēšanas plāns i) samazinātu Dexia finansējuma atkarību no tirgus finansējuma un ii) paaugstinātu tās finansējuma vidējo termiņu ar mērķi mazināt Dexia ietekmējamību saistībā ar finansēšanas izmaksu pieaugumu.
English: Given (i) the level of Dexia’s capital (EUR 17,1 billion in Tier 1 capital and EUR 19,6 billion in total regulatory capital at 30 September 2009), (ii) the current non-inclusion of the AFS reserve in the calculation of the regulatory capital, the Commission is concerned that the inclusion of this AFS reserve in the regulatory capital ratios, currently under discussion at the Basel Committee, will penalise Dexia. In this respect, the Commission notes the following factors:
Latvian: Ņemot vērā i) Dexia kapitāla līmeni (1. līmeņa pamatkapitāls EUR 17,1 miljards un kopējais statūtkapitāls EUR 19,6 miljardi 2009. gada 30. septembrī), ii) pašreizējo pārdošanai gatavo aktīvu rezerves neiekļaušanu statūtkapitāla aprēķinā, Komisija pauž bažas, ka minēto pārdošanai gatavo aktīvu rezerves iekļaušana statūtkapitāla rādītājos nav Dexia izdevīga, ievērojot pašreizējās apspriedes Bāzeles Banku uzraudzības komitejā.
English: even if the negative AFS reserve had been included in full in the calculation of the regulatory capital, Dexia would still have satisfied the regulatory capital requirements at 30 September 2009. The Tier 1 capital ratio would have stood at […] and the total capital ratio at […], such a change in the regulations would have an impact on a large number of other banks, such a change in the regulations would not be applicable, according to the Member States concerned, before 2012.
Latvian: Šajā sakarībā Komisija izsaka turpmāk minētās piezīmes.
English: Furthermore, under this initial restructuring plan, the authorities of the Member States concerned asked the Commission to authorise the extension of the guarantee mechanism until the deadline provided for in the guarantee agreement, that is to say 31 October 2009, and the continuation of the preferential remuneration rate of 25 basis points for the guarantee covering bonds with a maturity of less than one month. In addition, the Commission was also asked to confirm that, if the guarantee were to be extended beyond October 2009 (to October 2010), that extension would be compatible with the common market.
Dutch: Overigens kreeg de Commissie, in het kader van het initiële herstructureringsplan, van de autoriteiten van de betrokken lidstaten het verzoek om het garantiemechanisme te mogen verlengen tot de voorziene einddatum van de garantieovereenkomst (31 oktober 2009) en om voor de verplichtingen op minder dan één maand het preferente vergoedingspercentage van 25 basispunten van die garantie te mogen handhaven.
English: Holding Communal SA
Dutch: Gemeentelijke Holding NV
English: Arcofin SCRL
Dutch: Arcofin CV
English: Table 4 Trend in the average life of Dexia’s liabilities (in years)
Dutch: Ontwikkeling van de gemiddelde looptijd van de passiva van Dexia (in jaren)
English: any discretionary early repayment or payment of coupons on hybrid Tier 1 instruments or Tier 2 instruments (i) issued by entities over which Dexia has exclusive control (ii) held by persons or entities other than Dexia SA and its subsidiaries and (iii) the payment or exercise of which is discretionary by virtue of the contractual provisions covering these instruments, so that, after the distribution or the payment under consideration (and taking account of any payments which have become mandatory on account of the payment of a dividend in respect of ordinary shares), Dexia’s Core Tier 1 (calculated by reference to the latest consolidated annual accounts prepared in accordance with IFRS), remains above or equal to the level below:
Dutch: iedere discretionaire vervroegde terugbetaling of couponbetaling op hybride Tier 1-instrumenten of Tier-2 instrumenten i) die zijn uitgegeven door entiteiten die onder de uitsluitende zeggenschap staan van Dexia; ii) die worden gehouden door personen of entiteiten niet zijnde Dexia NV en haar dochterondernemingen, en iii) ten aanzien van de betaling of de uitoefening waarvan discretionaire marge bestaat uit hoofde van de contractuele bepalingen betreffende deze instrumenten, zodat, na de voorgenomen uitkering of betaling (en rekening houdende met eventuele betalingen die moeten plaatsvinden als gevolg van een dividenduitkering uit hoofde van gewone aandelen), de core Tier 1 van Dexia-groep (berekend op basis van de laatste, volgens de IFRS-normen opgestelde, geconsolideerde jaarrekening), ten minste op het onderstaande niveau uitkomt, en
English: According to the information communicated to the Commission by the Member States concerned, […], so that the analysis of the main sources of the group’s profit can be conducted in terms of margins in relation to the interbank reference rates. This analysis, carried out for the year 2009, led the Commission to consider that Dexia’s traditional banking activities would have yielded very low, and even negative, profitability.
Dutch: Volgens de informatie die de Commissie van de betrokken lidstaten heeft ontvangen, […], zodat de beoordeling van de voornaamste winstbronnen van de groep kan plaatsvinden aan de hand van marges ten opzichte van de interbancaire referentiepercentages.