FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: KBC commits to develop a sustainable remuneration policy for the Executive Committee and Senior Management. KBC’s Executive Committee and Senior Management incentive schemes will be linked to long-term value creation taking account of risk and restricting the potential for ‘rewards for failure’. Exit schemes or statutory compensation for dismissal are limited to twelve months’ fixed salary for KBC’s Executive Committee Members;
Finnish: KBC sitoutuu kehittämään kestävän palkitsemisjärjestelmän johtoryhmälleen ja ylimmälle johdolleen; KBC:n johtoryhmän ja ylimmän johdon kannustinohjelmat kytketään pitkän aikavälin arvonmuodostukseen ottaen huomioon riskit ja rajoittamalla mahdollisuuksia ”palkita epäonnistumisista”; KBC:n johtoryhmän jäsenten palveluksesta poistumisohjelmat tai lakisääteiset korvaukset irtisanomistapauksissa rajoittuvat kahdentoista kuukauden kiinteään palkkaan;
English: Therefore its compatibility is assessed under the IAC. The application of the IAC to the Asset Relief Measure
Finnish: Arvoltaan alentuneita omaisuuseriä koskevan tiedonannon soveltaminen ongelmallisiin omaisuuseriin kohdistuvaan toimenpiteeseen
English: On 15 January 2009, Moody’s rating agency announced that it had revised certain key assumptions in its rating of corporate synthetic CDOs. As a result, it decided to downgrade several categories of CDOs, although it did not specify which CDOs were affected.
French: Le 15 janvier 2009, l’agence de notation Moody’s a annoncé qu’après avoir révisé certaines hypothèses essentielles dans sa notation des CDO synthétiques des entreprises, elle avait décidé de revoir à la baisse la notation de plusieurs catégories de CDO, sans préciser lesquels.
Italian: Il 15 gennaio 2009, l’agenzia di rating Moody ha annunciato che dopo aver rivisto alcune ipotesi essenziali nel suo rating dei CDO sintetici delle imprese, aveva deciso di rivedere al ribasso il rating di varie categorie di CDO, senza precisare quali.
English: It is understood that securitisation transactions which are not caught by this definition of CDOs fall outside the scope of this commitment. This is for instance the case for securitisation transactions for purposes of management of regulatory capital or credit risk or to raise liquidity.
French: Il est entendu que les opérations de titrisation telles que celles effectuées aux fins de la gestion du capital réglementaire ou du risque de crédit ou en vue de se procurer des fonds ne sont pas couvertes par cette définition des CDO et ne sont donc pas concernées par cet engagement.
English: In this case the Belgian authorities will obtain ordinary shares and will be remunerated accordingly. This is line with the Annex to the Recapitalisation Communication.
French: En l’espèce, les autorités belges obtiendront des actions ordinaires et seront rémunérées en conséquence, ce qui est conforme à l’annexe de la communication sur la recapitalisation des établissements financiers.
Italian: Nella fattispecie, le autorità belghe otterranno azioni ordinarie e saranno remunerate di conseguenza, e ciò è conforme all’allegato della comunicazione sulla ricapitalizzazione.
Portuguese: Neste caso, as autoridades belgas obterão acções ordinárias e serão devidamente remuneradas, em conformidade com o anexo da Comunicação relativa à recapitalização.
Romanian: În acest caz, Belgia va obține acțiuni ordinare și va fi remunerată în mod corespunzător, ceea ce este în conformitate cu prevederile anexei la Comunicarea privind recapitalizarea.
English: The State Protection measure was used to shield KBC from further write-downs on its CDO portfolio, as well as to increase its capital ratios. That measure has furthermore removed a source of volatility on its balance sheet.
French: La garantie de l’État a permis de protéger KBC contre de nouvelles dépréciations sur son portefeuille de CDO, de renforcer ses ratios de fonds propres et de supprimer une source de volatilité de son bilan.
Italian: La garanzia dello Stato ha consentito di proteggere KBC contro nuovi deterioramenti del suo portafoglio di CDO, di rafforzare i suoi coefficienti di fondi propri e di sopprimere un elemento di volatilità del suo bilancio.
English: KBC, as part of its financial restructuring, will list 40 % of its Czech subsidiary ČSOB and 40 % of its Hungarian subsidiary K & H on the local stock exchanges. That will significantly dilute KBC’s shareholding as it is currently 100 % owner of those subsidiaries and provides for a contribution by KBC and its investors.
French: Dans le cadre de sa restructuration financière, KBC introduira en bourse, au niveau local, 40 % de sa filiale tchèque ČSOB et 40 % de sa filiale hongroise K & H. Cette opération aura un effet dilutif considérable sur la participation de KBC dans ces filiales, qu’elle détient actuellement à 100 %, et assure une contribution de KBC et de ses investisseurs.
Polish: W ramach restrukturyzacji finansowej grupa KBC wprowadzi na lokalne giełdy papierów wartościowych 40 % swojej czeskiej spółki zależnej ČSOB oraz 40 % swojej węgierskiej spółki zależnej K & H. Znacząco osłabi to udział grupy KBC w tych spółkach, jako że jest ona obecnie w 100 % właścicielem tych spółek zależnych oraz zapewnia wkład grupy KBC i jej inwestorów.
English: KBC is an integrated bancassurance group, catering mainly for retail customers, small- and medium-sized enterprises (hereinafter ‘SMEs’) and private banking clientele. KBC is one of the main financial institutions in Belgium.
Hungarian: A KBC egy integrált bankbiztosítási csoport, amelynek ügyfélköre főként lakossági ügyfelekből, kis- és középvállalkozásokból (a továbbiakban: „kkv-k”), valamint magánbanki ügyfelekből áll. A KBC az egyik legfőbb pénzintézet Belgiumban.
English: the divestment business shall employ the appropriate number of staff with the necessary capabilities to ensure its viability and competitiveness. KBC shall take all reasonable steps, including incentives taking into account industry practice, to encourage all key personnel [34] to remain with the Divestment Businesses.
Hungarian: a leválasztott üzleti tevékenység az életképességének és versenyképességének a biztosítása céljából megfelelő létszámú, a szükséges képességekkel rendelkező alkalmazottat foglalkoztat; a KBC megtesz minden ésszerűen elvárható lépést annak ösztönzésére – ideértve az iparági gyakorlatot figyelembe vevő ösztönzőket is –, hogy a kulcsfontosságú alkalmazottak [34] a leválasztott üzleti tevékenység területén maradjanak.
English: In line with paragraphs 40 and 41 of the IAC, the transfer value of the impaired assets must be in line with their real economic value (hereinafter ‘REV’). In an asset guarantee measure, the Commission considers that the transfer value is the point at which the State compensates the bank for losses in the form of cash.
Hungarian: Az IAC 40. és 41. bekezdésével összhangban az értékvesztett eszközök átvételi értékének összhangban kell lennie a tényleges gazdasági értékükkel (a továbbiakban: „REV”) Eszközgarancia-intézkedés esetén a Bizottság úgy véli, hogy az átvételi érték az a pont, amelynél az állam készpénz formájában kompenzálja a bankot a veszteségei miatt.
English: KBC will take the necessary steps for the divestment of the entities or assets (hereinafter ‘Divestment Business(es)’) as listed in recital 80 to be implemented by the time mentioned. Such a divestment shall be deemed implemented when a binding agreement has been entered into by KBC to sell […] in the entity or asset concerned.
Hungarian: A KBC megteszi a szükséges lépéseket arra vonatkozóan, hogy a (80) preambulumbekezdésben felsorolt egységek vagy eszközök leválasztását (a továbbiakban: „leválasztandó üzlet(ek)”) az említett időpontig megvalósítsa A leválasztás végrehajtottnak tekinthető, ha a KBC kötőerővel rendelkező megállapodást köt az érintett egység vagy eszköz […] értékesítésére vonatkozóan.
English: the divestment business shall employ the appropriate number of staff with the necessary capabilities to ensure its viability and competitiveness. KBC shall take all reasonable steps, including incentives taking into account industry practice, to encourage all key personnel [5] to remain with the Divestment Businesses.
Hungarian: a leválasztott üzleti tevékenység az életképességének és versenyképességének a biztosítása céljából megfelelő létszámú, a szükséges képességekkel rendelkező alkalmazottat foglalkoztat. a KBC megtesz minden ésszerűen elvárható lépést annak ösztönzésére – ideértve az iparági gyakorlatot figyelembe vevő ösztönzőket is –, hogy a kulcsfontosságú alkalmazottak [5] a leválasztott üzleti tevékenység területén maradjanak.
English: Most of the impairments will be taken in 2008 (EUR […] billion) and 2009 (EUR […] billion). KBC’s Tier-1 ratio will increase from […] % in 2009 to […] % in 2013.
Italian: La maggior parte dei deterioramenti di attivi saranno registrati nel 2008 […] miliardi di EUR e nel 2009 […] miliardi di EUR. Tra il 2009 e il 2013, il coefficiente Tier-1 di KBC passerà da […] % nel 2009 a […] % nel 2013.
English: Commissie voor het Bank-, Financie- en Assurantiewezen, Commission bancaire, financière et des assurances.
Italian: Commissie voor het Bank-, Financie- en Assurantiewezen, Commissione bancaria, finanziaria e delle assicurazioni.
Portuguese: Commissie voor het Bank-, Financie- en Assurantiewezen, Comissão Bancaire, Financière et des Assurances.
Dutch: Commissie voor het Bank-, Financie- en Assurantiewezen/Commission Bancaire, Financière et des Assurances.
English: MBIA has provided insurance on 11 out of the 15 CDOs. In relation to those instruments, the Belgian authorities shall compensate KBC for losses if a credit event triggers that insurance and MBIA subsequently fails to perform its obligation.
Italian: MBIA ha assicurato 11 dei 15 CDO per quanto riguarda tali strumenti; le autorità belghe compenseranno KBC per le perdite che si saranno verificate se un evento di credito attiva tale assicurazione e, successivamente, MBIA non rispetta l’obbligo che le incombe.
English: The market value of KBC has fallen significantly, from EUR 23 billion on 1 August 2008 to EUR 11,8 billion on 23 October 2009. KBC employs 56716 people worldwide, 19196 of whom are in Belgium and 31947 of whom are in Central and Eastern Europe and Russia.
Lithuanian: KBC rinkos vertė labai sumažėjo: nuo 23 mlrd. EUR 2008 m. rugpjūčio 1 d. iki 11,8 mlrd. EUR 2009 m. spalio 23 d. KBC visame pasaulyje turi 56716 darbuotojų, iš jų 19196 dirba Belgijoje, 31947 – Vidurio ir Rytų Europoje ir Rusijoje.
English: On 18 June 2009, a restructuring plan for KBC was submitted by the Belgian authorities as a follow-up to the first recapitalisation which was approved by the Commission on 18 December 2008 for a period of six months. The plan contained a preliminary analysis of KBC’s business, KBC’s future strategy, measures to restore viability and repayment of the State measures.
Lithuanian: 2009 m. birželio 18 d. Belgijos valdžios institucijos pateikė KBC restruktūrizavimo planą; tai buvo tolesni veiksmai po pirmo kapitalo atkūrimo, kurį Komisija šešiems mėnesiams patvirtino 2008 m. gruodžio 18 d. Plane pateikta preliminari KBC verslo analizė, KBC ateities strategija, priemonės gyvybingumui atkurti ir valstybės priemonių grąžinimas.
English: As regards the capital injection, KBC starts paying coupons from 2011 and will begin repaying the principal once it begins to generate surplus capital, which under the base case is from 2012 onwards. Taking into account the 50 % penalty, KBC is projected to repay about EUR 7 billion in the years […], which is equivalent to the principal amount of State capital that is received.
Polish: Jeżeli chodzi o wkład kapitałowy, w 2011 r. grupa KBC rozpocznie realizację kuponów, a spłacanie kwoty głównej rozpocznie, gdy zacznie generować nadwyżkę kapitału, co według scenariusza podstawowego nastąpi od 2012 r. Uwzględniając karę pieniężną w wysokości 50 %, przewiduje się, że w latach […] grupa KBC spłaci kwotę około 7 mld EUR, co stanowi równowartość kwoty głównej otrzymanego kapitału państwowego.
Lithuanian: Kalbant apie kapitalo injekciją, KBC pradeda mokėti atkarpas nuo 2011 m., o pagrindinę sumą pradės mokėti tada, kai pradės gauti perteklinį kapitalą, kuris pagal pagrindinį scenarijų bus pradėtas gauti nuo 2012 m. Atsižvelgiant į 50 % baudą, prognozuojama, kad KBC apie 7 mlrd. EUR grąžins […] metais, o tai lygu pagrindinei valstybės kapitalo sumai, kuri gaunama.
English: As a result, each of the 15 synthetic CDOs has a different attachment point and therefore a different expected loss. Consequently, the CDOs need to be assessed individually and the guarantee provided will be individual for each CDO (that is, there will not be a single guarantee on the aggregated portfolio). That specific structure was necessary to achieve a perfect match between the mark-to-market value of the guaranteed portfolio and the mark-to-market value of the guarantee with a view to removing profit and loss volatility caused by the fluctuation in value of the CDOs, the ultimate aim of the measure.
Latvian: Rezultātā katrai no 15 sintētiskajām CDO ir atšķirīgs sākuma punkts, un līdz ar to – atšķirīgi paredzamie zaudējumi.
English: Regarding burden-sharing, the IAC states in section 5,2 the general principle that banks ought to bear the losses associated with impaired assets to the maximum extent. That implies first that the bank should bear the difference between the nominal value and the REV of the impaired assets.
Portuguese: No que se refere à repartição dos custos, na Comunicação relativa aos activos depreciados é estabelece na secção 5.2 o princípio geral de que os bancos devem suportar ao máximo as perdas associadas aos activos depreciados, o que implica antes de mais nada que o banco deve suportar a diferença entre o valor nominal e o valor económico real dos activos depreciados.
Latvian: Attiecībā uz sloga sadali IAC 5.2. iedaļā ir formulēts vispārīgais princips, ka bankām maksimāli vajadzētu uzņemties tos zaudējumus, kas saistīti ar samazinātas vērtības aktīviem.
English: The Belgian authorities have granted protection against realised credit losses on KBC’s CDO portfolio for a period corresponding to the maturity of each CDO [14]. The total portfolio has a nominal value of EUR […] [15] billion.
Dutch: De Belgische autoriteiten hebben bescherming geboden tegen gerealiseerde kredietverliezen op KBC’s cdo-portefeuille voor een periode die overeenstemt met de looptijd van elke cdo [14].
English: In the opening Decision, the Commission required the Belgian authorities to submit an amended restructuring plan that would also take into account the second recapitalisation and the State Protection measure by 30 September 2009. The Commission received no comments from interested parties.
Polish: W decyzji o wszczęciu postępowania Komisja wezwała władze belgijskie do przedłożenia zmienionego planu restrukturyzacji, uwzględniającego również drugie dokapitalizowanie i środek zabezpieczenia przez państwo, do dnia 30 września 2009 r. Komisja nie otrzymała żadnych uwag od zainteresowanych stron.
English: For 2008, total assets on the balance sheet of KBC amounted to EUR 355,6 billion and EUR 178,3 billion in risk-weighted assets (hereinafter ‘RWA’) terms [8]. It recorded a loss of EUR 2,5 billion in 2008. The market value of KBC has fallen significantly, from EUR 23 billion on 1 August 2008 to EUR 11,8 billion on 23 October 2009. KBC employs 56716 people worldwide, 19196 of whom are in Belgium and 31947 of whom are in Central and Eastern Europe and Russia.
Polish: Suma aktywów bilansu grupy KBC za 2008 r. wyniosła 355,6 mld EUR, zaś wartość aktywów ważonych ryzykiem [8] wyniosła 178,3 mld EUR W 2008 r. grupa odnotowała stratę w wysokości 2,5 mld EUR Wartość rynkowa grupy KBC znacznie spadła: z 23 mld EUR w dniu 1 sierpnia 2008 r. do poziomu 11,8 mld EUR w dniu 23 października 2009 r. Grupa KBC zatrudnia 56716 osób na całym świecie, w tym 19196 w Belgii i 31947 w Europie Środkowo-Wschodniej i Rosji.
English: Its Tier 1 ratio will be […] % in 2009 and will remain above […] % from 2010 onwards. This reasonably benign evolution of capital ratios is to due to the fact that the balance sheet of KBC is expected to contract significantly in the stress scenario, since economic activity and hence demand for loans will be much reduced.
Polish: Współczynnik warstwy 1 wyniesie […] % w 2009 r. i utrzyma się powyżej […] % począwszy od 2010 r. Powyższe stosunkowo łagodne zmiany współczynników kapitałowych wynikają z faktu, że w scenariuszu warunków skrajnych założono, iż bilans grupy KBC będzie znacznie niższy ze względu na zdecydowane ograniczenie aktywności gospodarczej, a co za tym idzie również zapotrzebowania na kredyty.
English: Following 2008 third quarter losses of EUR 906 million, resulting mainly from the bank’s exposure to its CDOs, Icelandic banks, Lehman Brothers and Washington Mutual, KBC needed to strengthen its capital base. This lead to the first recapitalisation of EUR 3.5 billion by the Belgian authorities in December 2008, described in more detail in section 3 of the first recapitalisation Decision of 18 December 2008 [9].
Portuguese: Na sequência das perdas de 906 milhões de EUR sofridas no terceiro trimestre de 2008, resultantes principalmente da exposição do banco aos seus próprios CDO, aos bancos islandeses, ao Lehman Brothers e ao Washington Mutual, o KBC tinha de reforçar a sua base de capital, o que esteve na origem da primeira injecção de capital de 3,5 mil milhões de EUR por parte das autoridades belgas, em Dezembro de 2008, que é descrita em mais pormenor na secção 3 da primeira decisão de recapitalização de 18 de Dezembro de 2008 [9].
English: The third tranche starts at EUR 14,8 billion (hereinafter ‘Cash Range’). The Cash Range is effectively a guarantee by the Belgian authorities to compensate KBC in cash for part of the losses occurring in that tranche.
Portuguese: A terceira parcela (a seguir designada Cash Range) inicia-se a partir de um limiar de 14,8 mil milhões de EUR. A Cash Range equivale efectivamente a uma garantia das autoridades belgas de compensar o KBC em numerário pelas perdas incorridas nesta parcela.
English: KBC will retain the activities which are necessary to service its core SME and corporate clients, mainly Belgian. These are activities such as fundraising and currency transactions.
Portuguese: O KBC manterá as actividades que são necessárias para prestar serviços aos seus principais clientes empresariais e do sector das PME, que são principalmente belgas; essas actividades consistem essencialmente na mobilização de fundos e em transacções em divisas.
English: KBC shall take all reasonable steps, including incentives taking into account industry practice, to encourage all key personnel [34] to remain with the Divestment Businesses. It shall also not solicit the key personnel transferred with the Divestment Business. […].
Portuguese: O KBC tomará todas as medidas razoáveis, incluindo regimes de incentivo adequados, para encorajar todos os efectivos cruciais [34] a permanecer na empresa, abstendo-se de procurar atrair quaisquer membros do pessoal transferidos com a actividade a alienar.[…].
English: The mid-point of this range (12.5 bps) has been applied to KBC. That amounts to 650 bps per year on the principal amount of EUR 1.8 billion.
Portuguese: Foi aplicada ao KBC a média entre estes dois valores (12,5 pontos base), o que equivale a 650 pontos base por ano, para um capital de 1,8 mil milhões de EUR. A Comissão recorda o ponto 26 da Comunicação relativa à recapitalização, que estipula que o preço das recapitalizações deve ser determinado em conformidade com as recomendações do EURsistema de 20 de Novembro de 2008 que, por seu turno, estipulam que a taxa de remuneração anual exigida para as acções ordinárias deve ser o prémio de risco de capital próprio de 500 pontos base por ano [48].
English: In this case, the underwriting premium can be considered as the equity risk premium described in the Eurosystem Recommendations. As the underwriting fee is in excess of this threshold, the remuneration is considered sufficient.
Portuguese: Dado que a remuneração de subscrição é superior a este limiar, a remuneração é considerada suficiente.
English: KBC has a strong liquidity position. It has a limited reliance on wholesale, particularly short-term, funding and has a loan-to-deposit ratio of less than […] %.
Portuguese: O KBC tem uma posição de liquidez forte, uma dependência limitada em relação aos fundos captados no mercado grossista, especialmente a curto prazo, e um rácio empréstimos/depósitos inferior a […] %.
English: Centea has a country-wide network of 712 client contact points and a portfolio reflecting a full banking product range. Centea has its own front-office function.
Portuguese: A Centea dispõe de uma rede de 712 pontos de contacto com clientes, a nível nacional, de uma carteira que reflecte a gama completa dos produtos bancários e dos seus próprios serviços de atendimento.
English: KBC submits that according to IFRS accounting rules, both the guaranteed CDO portfolio and the guarantee must be measured at fair value. That means that the guarantee must cover one-for-one any changes in the fair value of the guaranteed instruments.
Portuguese: O KBC alega que, em conformidade com as normas de contabilidade NIIF, tanto a carteira de CDO garantida, como a garantia, devem ser avaliadas pelo seu justo valor, o que significa que a garantia deve cobrir uma por uma as alterações do valor justo dos instrumentos garantidos.
English: KBC shall take all reasonable steps, including incentives taking into account industry practice, to encourage all key personnel [5] to remain with the Divestment Businesses. It shall also not solicit the key personnel transferred with the Divestment Business. […].
Portuguese: O KBC tomará tomar todas as medidas razoáveis, incluindo regimes de incentivo adequados, para encorajar todos os efectivos cruciais [5] a permanecer na empresa, abstendo-se de procurar atrair quaisquer membros do pessoal transferidos com a actividade a alienar.[…].
English: On 22 January 2009, the Flemish government and KBC announced a further strengthening of KBC’s capital base through a EUR 2 billion recapitalisation by the Flemish government. The Flemish government [4] furthermore committed to provide an additional stand-by facility of EUR 1,5 billion (hereinafter together called ‘the second recapitalisation’).
Slovak: Flámska vláda a KBC oznámili 22. januára 2009 ďalšie posilnenie kapitálovej základne KBC prostredníctvom rekapitalizácie flámskej vlády vo výške 2 miliárd EUR. Flámska vláda [4] sa okrem toho zaviazala poskytnúť dodatočný pohotovostný úver vo výške 1,5 miliardy EUR (spolu ďalej len „druhá rekapitalizácia“).
Romanian: La 22 ianuarie 2009, guvernul flamand și grupul KBC au anunțat o consolidare suplimentară a bazei de capital a societății KBC printr-o recapitalizare în valoare de 2 miliarde EUR. În plus, guvernul flamand [4] s-a angajat să acorde un credit stand-by suplimentar în valoare de 1,5 miliarde EUR (denumite împreună în continuare „a doua recapitalizare”).
English: KBC commits to develop a sustainable remuneration policy for the Executive Committee and Senior Management. KBC’s Executive Committee and Senior Management incentive schemes will be linked to long-term value creation taking account of risk and restricting the potential for ‘rewards for failure’.
Romanian: grupul KBC se angajează să dezvolte o politică durabilă de remunerare pentru Comitetul executiv și conducere, pentru care schemele stimulentelor vor depinde de crearea de valoare pe termen lung, ținând seama de risc și limitând posibilitatea de „recompense pentru eșec”.
English: The Belgian authorities submitted the final restructuring plan on the due date. The plan addresses the substantive issues of viability, burden-sharing and limiting distortion of competition.
Slovenian: Belgijski organi so na zahtevani datum predložili končni načrt prestrukturiranja, ki obravnava vsebinska vprašanja uspešnega poslovanja, delitve bremen in omejevanja izkrivljanja konkurence.