FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: On 2 June 2009, HRE shareholders approved a capital injection amounting to EUR 2,96 billion into HRE by issuing new shares to be acquired by SoFFin. As a result, SoFFin held 90 % of the shares of HRE.
Italian: Il 2 giugno 2009 gli azionisti di HRE hanno deliberato un conferimento di capitale pari a 2,96 miliardi di EUR attraverso l’emissione di nuove azioni HRE, che sono state successivamente acquistate da SoFFin, la quale è così passata a detenere il 90 % delle quote sociali di HRE.
English: The capital injection of EUR 1,85 billion is part of a total capital need set out in the restructuring plan for HRE. EUR 1,4 billion of this capital injection was injected in order to comply with regulatory capital requirements and to have a risk buffer.
Italian: L’apporto di capitale di 1,85 miliardi di EUR è compreso nel fabbisogno totale di capitale indicato nel piano di ristrutturazione di HRE; 1,4 miliardi di EUR di questo apporto di capitale sono stati conferiti per soddisfare i requisiti di capitale proprio previsti dalle disposizioni in materia di vigilanza e per coprire i rischi.
English: HRE needed an additional EUR 20 billion liquidity guarantee because of adverse developments on the capital and interest rates futures markets, which affected HRE until the assets had been transferred to the winding-up institution FMS-WM. The guarantee was temporarily approved by the Commission on 24 September 2010.
Italian: Considerati gli sviluppi sfavorevoli sui mercati dei capitali e dei futures dei tassi di interesse cui HRE ha dovuto far fronte fino al momento del trasferimento delle attività all’istituto di liquidazione FMS-WM, HRE necessitava di un’ulteriore garanzia di liquidità pari a 20 miliardi di EUR. La garanzia è stata autorizzata a titolo temporaneo dalla Commissione il 24 settembre 2010.
English: Specifically, Germany will ensure that the Bundesanstalt für Finanzmarktstabilisierung (‘FMSA’) orders HRE to pay an amount of EUR 1,59 billion to FMS-WM either directly or via its subsidiaries. Those subsidiaries of HRE which transferred assets to the winding-up institution and which have a core capital quota exceeding 15 % are in principle liable for that payment.
Italian: In particolare, la Germania assicura che l’istituto federale per la stabilizzazione del mercato finanziario («FMSA») imporrà a HRE di versare a FMS-WM, direttamente o per il tramite delle sue controllate, un importo pari a 1,59 miliardi di EUR. Il pagamento dovrà essere effettuato da società di HRE che abbiano trasferito attività all’istituto di liquidazione e il cui coefficiente di fondi propri di base superi il 15 %.
Slovenian: Natančneje, Nemčija bo zagotovila, da Zvezna agencija za stabilizacijo finančnega trga (Bundesanstalt für Finanzmarktstabilisierung, v nadaljnjem besedilu: agencija FMSA) naroči banki HRE, da neposredno ali prek svojih podružnic banki FMS-WM plača znesek v višini 1,59 milijarde EUR. Za to plačilo so načeloma odgovorne podružnice banke HRE, ki so prenesle sredstva na slabo banko, njihova kvota temeljnega kapitala pa presega 15 %.
Lithuanian: Vokietija užtikrina, kad Federacinė finansų rinkos stabilizavimo institucija Bundesanstalt für Finanzmarktstabilisierung (toliau – FMSA) HRE duos nurodymą tiesiogiai ar per savo patronuojamąsias bendroves FMS-WM sumokėti 1,59 mlrd. EUR. Mokėti turės tos HRE bendrovės, kurios likvidavimo institucijai perdavė savo turto pozicijas ir kurių pagrindinio kapitalo kvota viršija 15 %.
English: With effect from 1 December 2009, Articles 87 and 88 °f the EC Treaty have become Articles 107 and 108, respectively, of the TFEU. The two sets of provisions are, in substance, identical.
Italian: A partire dal 1o dicembre 2009, gli articoli 87 e 88 del trattato CE sono divenuti rispettivamente gli articoli 107 e 108 del trattato sul funzionamento dell’Unione europea (TFUE).
English: Germany will ensure that, as of notification of the final Commission decision on the compatibility of the State aid implemented for HRE with the common market (‘decision’) at the latest, HRE restricts its new business to the PBB sub-group. Germany will ensure that all other HRE companies conduct no new business but allow their existing business to run down.
Italian: La Germania garantisce che HRE limiterà le sue nuove attività al sottogruppo pbb. al più tardi dal momento della notifica della decisione definitiva della Commissione relativa alla compatibilità degli aiuti accordati a favore di HRE con il mercato comune («decisione»), Le autorità tedesche garantiscono che tutte le altre società di HRE non generano nuove attività, e che si limitano a portare a scadenza le attività esistenti.
English: Commitments relating to information technology of HRE/PBB Germany will ensure that HRE achieves the outstanding milestones in the ‘New Evolution’ IT project according to the project schedule — having regard to the usual uncertainties associated with the implementation of a project of this size.
Italian: Impegni di HRE/pbb relativi alle tecnologia dell’informazione
English: On 14 June 2011 Germany submitted a final update of the restructuring plan. On 15 June 2011 Germany submitted a list of related commitments, which was supplemented on 1 July 2011.
Lithuanian: 2011 m. birželio 14 d. Vokietija pateikė galutinai atnaujintą restruktūrizavimo planą, o 2011 m. birželio 15 d. – Įsipareigojimų sąrašą, jį papildė 2011 m. liepos 1 d.
English: HRE paid a guarantee premium to SoFFin amounting to 0,5 % p.a. of the guaranteed sum. For parts of the guarantee that were not used, a commitment fee of 0,1 % p.a. was applicable.
Lithuanian: HRE už garantiją SoFFin mokėjo metinį 0,5 % garantijos sumos mokestį, o už nepanaudotą garantijos dalį – metinį 0,1 % garantijos suteikimo mokestį.
English: It manages assets and derivatives of the HRE group that it has taken over because they were either non-strategic or contained an unacceptable risk and capital burden. FMS-WM acts independently of HRE and benefits from an obligation on the part of SoFFin to compensate losses (‘Verlustausgleichspflicht’).
Lithuanian: FMS-WM valdo tą koncerno HRE turtą ir išvestines finansines priemones, kurie buvo ne strateginio pobūdžio arba kėlė nepriimtiną riziką, arba buvo nepriimtina našta kapitalui.
Maltese: Din tiġġestixxi assi u derivattivi tal-grupp HRE li ħadet fil-pussess tagħha peress li dawn jew ma kinux strateġiċi jew inkella kien fihom riskju jew piż kapitali mhux aċċettabbli.
English: By that time, due to amortisation, the portfolio earmarked for the transfer had a book value of EUR 173 billion. In accordance with the Communication from the Commission on the treatment of impaired assets in the Community banking sector (‘Impaired Asset Communication’ or ‘IAC’) [18], the Commission appointed external experts to support it in valuing the portfolio, determining the aid element and assessing whether and to what extent the value of the transfer made was above the real economic value (REV) of the portfolio. As laid down in the IAC, Germany also commissioned an external expert to perform an independent valuation.
Polish: Zgodnie z komunikatem w sprawie aktywów o obniżonej jakości Niemcy również zleciły zewnętrznemu ekspertowi wykonanie niezależnej wyceny.
Lithuanian: Kaip numatyta Komunikate dėl sumažėjusios vertės turto, išorės ekspertą nepriklausomam vertinimui parengti pasamdė ir Vokietija.
English: Some 26 out of 32 branches have been closed. In addition, a multi-year, group-wide transformation project called ‘New Evolution’ with a budget of approximately EUR 180 million has been launched to improve and integrate the IT systems.
Lithuanian: 26 iš 32 filialų uždaryti ir visame koncerne pradėta vykdyti daugiametį IT struktūros pertvarkymo projektą „New Evolution“, kuriam skirta apie 180 mln. EUR.
English: Germany is of the opinion that the squeeze-out does not constitute State aid within the meaning of Article 107(1) TFEU. As the squeeze-out does not constitute State aid, the question whether there is a violation of the principle of free movement of capital (which is not the case in Germany’s opinion) is not relevant to the in-depth investigation at hand.
Lithuanian: Vokietija mano, kad privalomo akcijų pardavimo reikalavimas nėra valstybės pagalba pagal SESV 107 straipsnio 1 dalį, taigi ir klausimas, ar pažeidžiamas laisvo kapitalo judėjimo principas (o Vokietija įsitikinusi, kad, šiaip ar taip, nepažeidžiamas), išsamiam šio atvejo tyrimui nesvarbus;
English: The Commission observes that Germany has not explicitly provided for recovery of that amount. However, it has introduced clauses allowing for recovery as far as possible.
Swedish: Kommissionen noterar att Tyskland inte uttryckligen har föreskrivit att detta belopp ska återbetalas, men att Tyskland har infört bestämmelser som gör det möjligt att återkräva så mycket som möjligt av det.
Romanian: Comisia menționează că Germania nu a prevăzut în mod explicit recuperarea sumei, dar a introdus clauze care permit recuperarea în măsura în care acest lucru este posibil.
Lithuanian: Komisija pažymi, kad Vokietija nenumatė aiškaus šios sumos susigrąžinimo, tačiau įtraukė išlygas, kuriomis, kiek įmanoma, suteikiamos galimybės ją susigrąžinti.
English: It is the Commission’s view that the future IT system will be a functional, efficient platform for timely and prudent risk management which is appropriate to the business processes. Its full implementation is therefore crucial.
Lithuanian: Komisijos nuomone, būsima IT sistema turi būti verslo procesams pritaikyta, funkcionali ir veiksminga šiuolaikiško ir apdairaus rizikos valdymo platforma, todėl labai svarbu, kad IT struktūros pertvarkymo planai būtų visiškai įgyvendinti.
English: According to the restructuring plan, PBB will no longer benefit from State guarantees on its refinancing. PBB nevertheless remains a wholesale funded institution without franchise funding.
Lithuanian: Pagal restruktūrizavimo planą PBB savo refinansavimo nebeužsitikrins valstybės garantijomis, tačiau vis tiek liks finansų įstaiga, finansavimą gaunanti pinigų ir kapitalo rinkoje ir nenaudojanti franšizės finansavimo.
English: HRE also benefited from an asset relief measure with an aid element of about EUR 20 billion. In view of that considerable State support, a deep restructuring of HRE must be carried out.
Polish: HRE skorzystał również ze środka na rzecz ratowania aktywów z elementem pomocy w wysokości około 20 mld EUR. Biorąc pod uwagę tę znaczną pomoc państwa, należy przeprowadzić gruntowną restrukturyzację HRE.
Lithuanian: Taip pat HRE pasinaudojo paramos turtui priemone, kurios pagalbos elementas sudarė apie 20 mlrd. EUR. Atsižvelgiant į šią didelę valstybės paramą HRE turi būti radikaliai restruktūrizuotas.
English: A purchaser is independent of HRE if, at the time of reprivatisation, HRE holds no direct or indirect shares in the purchaser and also has no other links with the purchaser under company law. The purchaser must be approved by the Commission.
Lithuanian: Laikoma, kad pirkėjas yra nepriklausomas nuo HRE, jei HRE vykdant pakartotinį privatizavimą neturi jokių tiesioginių ar netiesioginių pirkėjo akcijų ir jokių ryšių su pirkėju bendrovių teisės aspektu.
English: to third parties for the purchase of shares in HRE; and (b) to HRE in the context of carrying out recapitalisation measures. If reprivatisation has not taken place by 31 December 2014, it will be effected by 31 December 2015 irrespective of the proceeds achievable.
Lithuanian: Jei bankas nebus pakartotinai privatizuotas iki 2014 m. gruodžio 31 d., jis bus pakartotinai privatizuotas iki 2015 m. gruodžio 31 d. neatsižvelgiant į tai, kokias pajamas bus galima gauti.
English: Until the completion of reprivatisation, the Divestiture Trustee will provide the Commission with comprehensive monthly reports in German on the progress of the divestiture process. These reports will be submitted within 15 days after the end of every month, with a simultaneous copy to the Monitoring Trustee and a non-confidential version to HRE.
Lithuanian: Už pardavimą atsakingas patikėtinis, kol bus baigtas pakartotinis privatizavimas, Komisijai teikia išsamias rašytines mėnesines ataskaitas vokiečių kalba apie pardavimo procedūros eigą; už priežiūrą atsakingam patikėtiniui pateikiama šių ataskaitų kopija, o HRE – nekonfidenciali versija.
English: The Trustee will have unrestricted access to any of HRE’s books, records, documents, management or other personnel, facilities, sites and technical information that are necessary to fulfilling the Trustee’s duties under the commitments. HRE will provide the Trustee, on request, with copies of documents.
Lithuanian: Patikėtinis gali neribotai naudotis HRE knygomis, užrašais, dokumentais, kreiptis į vadovus ir kitus darbuotojus, prieiti prie įrangos, patekti į biurus, gauti techninę informaciją, jei tai jam bus reikalinga užduotims pagal įsipareigojimus atlikti.
English: This discharge will take place when all the obligations with which the Trustee has been entrusted have been implemented. However, the Commission may at any time require the reappointment of the Monitoring Trustee if it is subsequently found that the relevant remedies have not been fully and properly implemented.
Lithuanian: Komisija patikėtinį atleidžia, kai įvykdyti visi jam pavesti įsipareigojimai, tačiau, paaiškėjus, kad pagalbinės priemonės įgyvendintos ne visiškai ir netinkamai, bet kuriuo metu gali pareikalauti jį vėl paskirti.
English: In order to ensure that the business model set out in the restructuring plan is put into action, and to ensure that adequate burden sharing is achieved and distortions of competition are limited to the minimum necessary, on 15 June 2011 Germany submitted a number of commitments, supplemented on 1 July 2011 [21], which can be summarised as follows: (a)
Latvian: Lai nodrošinātu, ka pārstrukturēšanas plānā noteiktais darbības modelis tiek īstenots, un lai nodrošinātu, ka tiek sasniegta adekvāta izmaksu sloga sadale un līdz nepieciešamajam minimumam tiek samazināts konkurences kropļojums, 2011. gada 15. jūnijā Vācija iesniedza virkni saistību [21], kuras iespējams apkopot šādi:
English: All other business lines are stopped (the budget finance portfolio will remain on the PBB balance sheet but in run-down mode) and all other entities of the HRE group will stop their business activities. (d)
Latvian: Visi pārējie darbības virzieni ir apturēti (portfelis, ko veido finansējums budžeta vajadzībām, paliks PBB bilancē, bet tiks samazināts), un visi citi HRE grupas uzņēmumi pārtrauks darbību. d) PBB reprivatizācija.
English: Reprivatisation of PBB Germany will reprivatise PBB as soon as possible, and by 31 December 2015 at the latest. (e)
Latvian: Vācija reprivatizēs PBB cik ātri vien iespējams un vēlākais līdz 2015. gada 31. decembrim e) PBB izaugsmes ierobežošana.
English: Restriction of growth of PBB Germany will ensure that the growth rates of PBB remain within defined limits, measured in terms of balance sheet size as well as volume of new business. (f)
Latvian: Vācija nodrošinās, ka PBB izaugsme norisināsies noteiktajās robežās, kuras mēra pēc bilances lieluma, kā arī jaunās darbības apjoma. f) Likvidēšanas iestāde.
English: Winding-up institution Germany will ensure that, after 30 September 2013, PBB will provide neither asset management services nor refinancing services for the winding-up institution FMS-WM and that, from an organisational point of view, those services can be taken over by third parties. (g)
Latvian: Vācija nodrošinās, ka pēc 2013. gada 30. septembraPBB nesniegs likvidēšanas iestādei FMS-WM ne aktīvu pārvaldības pakalpojumus, ne refinansēšanas pakalpojumus un ka no organizatoriskā viedokļa šos pakalpojumus var pārņemt trešās personas.
English: Core markets [22]: Germany, United Kingdom, France and Spain. Further markets: Sweden, Poland, Czech Republic, Belgium, Netherlands, Luxembourg, Austria, Switzerland, Denmark, Finland, Norway, Slovakia and Hungary.
Latvian: galvenie tirgi: [22] Vācija, Apvienotā Karaliste, Francija un Spānija,pārējie tirgi: Zviedrija, Polija, Čehija, Beļģija, Nīderlande, Luksemburga, Austrija, Šveice, Dānija, Somija, Norvēģija, Slovākija un Ungārija;
English: Further markets: Switzerland, Austria, Poland, Hungary, Czech Republic, Slovakia, Sweden, Norway, Denmark, Finland, Belgium, Netherlands, Luxembourg and United Kingdom. (h)
Latvian: pārējie tirgi: Šveice, Austrija, Polija, Ungārija, Čehija, Slovākija, Zviedrija, Norvēģija, Dānija, Somija, Beļģija, Nīderlande, Luksemburga un Apvienotā Karaliste.
English: PBB will retain and accumulate profits in order to pay back the silent participation. (i)
Latvian: PBB paturēs un uzkrās peļņu, lai atmaksātu daļas bez balsstiesībām.
English: Restrictions regarding coupon payments and profit distribution Germany will ensure that HRE and its subsidiaries refrain, within the legal limits, from coupon payments and other measures of profit distribution. (j)
Latvian: Ierobežojumi attiecībā uz kupona maksājumiem un peļņas sadalīšanu. Vācija nodrošinās, ka HRE un tās meitasuzņēmumi tiesiski noteiktās robežās atturas no kupona maksājumiem un citiem peļņas sadalīšanas pasākumiem.
English: Restrictions regarding paybacks Germany will ensure that HRE and its subsidiaries refrain from paying back existing financial instruments. (k)
Latvian: Ierobežojumi attiecībā uz atmaksāšanas ilgumu. Vācija nodrošinās, ka HRE un tās meitasuzņēmumi atturas no esošo finanšu instrumentu atmaksāšanas.
English: Acquisition ban Germany will ensure that HRE and its companies do not acquire other businesses during the restructuring period. (l)
Latvian: Iegādes aizliegums. Vācija nodrošinās, ka HRE un tās meitasuzņēmumi pārstrukturēšanas periodā neiegādājas citus uzņēmumus.
English: Commitment relating to RAROC Germany will ensure that PBB’s strategic new business does not issue any new loans that have a risk-adjusted return on capital (RAROC) of less than 10 % on a transaction-by-transaction basis. (n)
Latvian: Vācija nodrošinās, ka PBB, īstenojot stratēģisko jauno darbību, neizsniedz jaunus aizdevumus, kuriem konkrētajam darījumam attiecībā uz risku koriģētā kapitāla atdeve (RAROC) ir mazāka nekā 10 %.
English: Under no circumstances will the Trustee submit any version of the report to Germany and/or HRE before submitting it to the Commission. The subject of the report will be fulfilment of the duties set out in the mandate by the Monitoring Trustee and compliance with the obligations by HRE, thus enabling the Commission to assess whether HRE is being managed in accordance with the obligations and to form a picture of the status of the reprivatisation process and of potential purchasers.
Latvian: Ziņojuma tēma ir pārraudzības pilnvarnieka mandātā noteikto pienākumu pildīšana un HRE atbilstība prasībām, tādējādi Komisija var izvērtēt, vai HRE tiek vadīta saskaņā ar saistībām, un radīt priekšstatu par reprivatizācijas procesa gaitu un potenciālajiem pircējiem.
English: With regard to the REF business line, net margins calculated for the current portfolios are assumed to improve from [85–100] bps (basis points) to [105–120] bps in 2011, [105–110] bps in 2012 and [95-100] bps thereafter. The PIF business line will generate a net margin of [27-35] bps during the whole restructuring period, which is a considerable improvement on the net margin of [6–12] bps calculated for the existing portfolio of public sector finance activities [31].
Maltese: Rigward il-linja tan-negozju REF, il-marġini netti kkalkulati għall-portafoli kurrenti huma supponuti li jitjiebu minn [80–100] bps (punti bażiċi) għal [105–120] bps fl-2011, [105–110] bps fl-2012 u [95-100] bps minn hemm ‘il quddiem. Il-linja tan-negozju FIB ser tiġġenera marġini nett ta’ [27-35] bps matul il-perjodu sħiħ ta’ ristrutturar, li huwa titjib konsiderevoli fuq il-marġini nett ta’ [6–12] bps ikkalkulat għall-portafoll eżistenti tal-attivitajiet tal-finanzi tas-settur pubbliku.
English: PBB is the renamed core bank of the group and the only one of the three subsidiaries of HRE Holding which will continue to generate new business. Its sectors of activity are real estate finance and public investment finance (‘PIF’).
Dutch: Deutsche Pfandbriefbank AG is de nieuwe naam van de voornaamste bank van het concern en de enige dochtermaatschappij van HRE Holding die in de toekomst bancaire activiteiten zal verrichten, en wel op het gebied van de vastgoedfinanciering en de financiering van overheidsinvesteringen (Öffentliche Investitionsfinanzierung).
English: FMS-WM was created by a board decision of 8 July 2010 in accordance with the German Finanzmarktstabilisierungsfondsgesetz [Financial Market Stabilisation Fund Act] (§ 8a of the FMStFG). It manages assets and derivatives of the HRE group that it has taken over because they were either non-strategic or contained an unacceptable risk and capital burden.
Dutch: FMS-WM is op 8 juli 2010 op basis van het Duitse Finanzmarktstabilisierungsfondsgesetz (§ 8a FMStFG) opgericht en is belast met het beheer van de activa en derivaten die zij van de HRE-groep heeft overgenomen omdat deze hetzij niet van strategische aard waren, hetzij een onaanvaardbaar risico met zich meebrachten en een onredelijke belasting voor het kapitaal van het concern vormden.
Slovak: FMS-WM bola založená uznesením predstavenstva z 8. júla 2010 na základe nemeckého zákona o fonde pre stabilizáciu finančných trhov (§ 8a FMStFG) a spravuje aktíva a deriváty skupiny HRE, ktoré preto, že buď nemali strategický charakter, alebo v sebe skrývali neprijateľné riziko a neodôvodnené kapitálové zaťaženie.
English: As an acute liquidity shortage was one of the main causes of HRE’s problems that ultimately led to the need for State support, the restructuring plan provides for an adequate cash and liquidity reserve, taking into account effects that might result from Basel III requirements. That reserve is greatest at the beginning of the restructuring period and will gradually decrease over time.
Dutch: Aangezien een acuut liquiditeitstekort een van de belangrijkste oorzaken van de problemen van HRE was dat uiteindelijk een beroep op staatssteun noodzakelijk maakte, is er op grond van het herstructureringsplan sprake van een toereikende liquiditeitsreserve, waarbij echter wel rekening gehouden dient te worden met eventuele aanvullende vereisten als gevolg van Basel III. Deze reserve zal aan het begin van de herstructureringsfase een maximale omvang hebben en zal vervolgens geleidelijk afnemen.
English: Most of that business consisted of standard bonds (‘plain vanilla bonds’), but it also included EUR 31 billion of ‘structured credit instruments’ and another EUR 30 billion of public sector loans. The quality of the assets in this part of the portfolio was significantly better than that of the commercial real estate loans.
Polish: Działalność ta obejmowała głównie zwykłe obligacje (obligacje typu „plain vanilla”), lecz także „strukturyzowane instrumenty kredytowe” o wartości 31 mld EUR i kredyty dla sektora publicznego w wysokości kolejnych 30 mld EUR. Jakość aktywów tej części portfela była znacznie lepsza niż części zawierającej kredyty na nieruchomości komercyjne.
English: Compared with the situation before the crisis, PBB’s strategic balance sheet size at the end of 2011 — corrected for items that are in run-down mode or have been synthetically transferred to FMS-WM — accounts for approximately 15 % of HRE’s balance sheet size at the end of 2008. New business in real estate finance will, for example, be reduced to approximately 30 % of its pre-crisis level (HRE’s new business in commercial real estate finance amounted to EUR 32,1 billion in 2007).
Polish: W porównaniu z sytuacją sprzed kryzysu strategiczna wartość sumy bilansowej PBB na koniec 2011 r. – skorygowana o pozycje podlegające likwidacji lub syntetycznemu przeniesieniu na rzecz FMS-WM – stanowi około 15 % sumy bilansowej HRE z końca 2008 r. Nowa działalność w zakresie finansowania nieruchomości zmniejszy się na przykład do około 30 % poziomu sprzed kryzysu (nowa działalność HRE w zakresie finansowania nieruchomości komercyjnych wynosiła 32,1 mld EUR w 2007 r.).