FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: The Commission is, however, of the view that a liquidation would be more costly than an orderly resolution and would require more State aid. […].
Swedish: Kommissionen anser emellertid att en likvidation skulle bli mer kostsam än en avveckling under ordnade former och att detta alternativ dessutom skulle kräva mer statligt stöd […].
Hungarian: A Bizottság azonban arra az álláspontra helyezkedik, hogy a felszámolás a szabályos szanálásnál költségesebb lenne és nagyobb összegű állami támogatást igényelne […].
English: In Anglo, approximately EUR […] billion of unsecured debt is not covered by the State guarantee [67]. […].
Hungarian: Az Anglo esetében hozzávetőleg […] milliárd EUR összegű fedezetlen hitelt nem véd állami garancia [67] […].
English: In that context, in Ireland senior bond holders have the same level of seniority as holders of deposit accounts. […].
Hungarian: Ebben az összefüggésben az írországi elsőrangú hitelezők a betétszámlák tulajdonosaival megegyező rangot élveznek […].
Romanian: În acest context, în Irlanda, titularii de obligațiuni preferențiale se situează la același nivel de prioritate ca titularii de conturi de depozit.[…].
Latvian: Saistībā ar šo jānorāda, ka Īrijā pirmās kārtas obligāciju turētājiem ir tāds pats kārtas līmenis kā noguldījumu kontu turētājiem.
English: By Decision of 14 January 2009, the Commission temporarily approved a recapitalisation of Anglo Irish Bank (hereinafter referred to as ‘Anglo’) [2]. That recapitalisation was not implemented as Ireland decided to nationalise Anglo instead. By Decision of 16 February 2009, the Commission concluded that the nationalisation did not involve State aid [3].
Maltese: Permezz ta’ Deċiżjoni tal-14 ta’ Jannar 2009, il-Kummissjoni approvat temporanjament rikapitalizzazzjoni ta’ Anglo Irish Bank (li minn hawn ‘il quddiem jissejjaħ “Anglo”) [2]. Dik ir-rikapitalizzazzjoni ma kinitx implimentata minħabba li l-Irlanda ddeċidiet li tinnazzjonalizza lil Anglo minflok. Permezz ta’ Deċiżjoni tas-16 ta’ Frar 2009, il-Kummissjoni kkonkludiet li n-nazzjonalizzazzjoni ma kinitx tinvolvi għajnuna mill-Istat [3].
English: On 30 November 2009, Ireland notified a restructuring plan to the Commission [5] (hereinafter referred to as ‘the initial Anglo restructuring plan’) prepared by Anglo. On 24 November and 18 December 2009, the Commission sent information requests to Ireland regarding the initial Anglo restructuring plan.
Maltese: Fit-30 ta’ Novembru 2009, l-Irlanda nnotifikat pjan ta’ ristrutturar lill-Kummissjoni [5] (li minn hawn ‘il quddiem jissejjaħ “il-pjan ta’ ristrutturar inizjali ta’ Anglo”) imħejji minn Anglo. Fl-24 ta’ Novembru u fit-18 ta’ Diċembru 2009, il-Kummissjoni bagħtet talbiet għal informazzjoni lill-Irlanda rigward il-pjan ta’ ristrutturar inizjali ta’ Anglo.
English: The joint restructuring plan foresees the merger of Anglo and INBS, after the sales of their respective deposit books, into one single entity (hereinafter referred to as ‘the merged entity’) which will be licensed, fully regulated and 100 % State-owned. The joint opening balance sheet after the merger will amount to EUR [60-70] billion.
Maltese: Il-pjan ta’ ristrutturar konġunt jipprevedi l-fużjoni ta’ Anglo u INBS, wara l-bejgħ tal-kotba tad-depożiti rispettivi tagħhom, f’entità waħda (li minn hawn ‘il quddiem tissejjaħ “l-entità fuża”) li se tinħarġilha liċenzja, tkun irregolata b’mod sħiħ u 100 % proprjetà tal-Istat. Il-karta tal-bilanċ konġunta tal-ftuħ wara l-fużjoni se tammonta għal EUR [60–70] biljun.
English: Management of existing assets: The merged entity will manage existing commercial assets in a way that maximises Net Present Value (hereinafter referred to as ‘NPV’) of the assets in accordance with normal commercial practice. Specifically, if a client cannot respect the terms of his/her loan, the merged entity will only restructure the lending terms if such a restructuring would lead to enhancing the NPV of the loan (that is to say, if the NPV of the cash flows to be expected from the restructuring is higher than the present value of the cash flows which can be expected from liquidation).
Maltese: Il-ġestjoni tal-assi eżistenti: L-entità fuża għandha tiġġestixxi l-assi kummerċjali eżistenti b’tali mod li timmassimizza l-Valur Nett Preżenti (li minn hawn ‘il quddiem jissejjaħ “NPV” – Net Present Value) tal-assi skont il-prattika kummerċjali normali. B’mod speċifiku, jekk klijent ma jkunx jista’ jirrispetta t-termini tas-self tiegħu, l-entità fuża se tirristruttura biss it-termini tas-self jekk dan ir-ristrutturar ikun ser iwassal sabiex jittejjeb l-NPV tas-self (jiġifieri, jekk l-NPV tal-likwidità mistennija mir-ristrutturar ikun ogħla mill-valur preżenti tal-likwidità li tista’ tkun mistennija mil-likwidazzjoni). Fil-qosor, l-entità fuża għandha tiġġestixxi l-portafoll tal-assi kummerċjali tagħha bl-istess mod kif maniġer tal-assi privati jiġġestixxi t-tħaddim ta’ ktieb simili.
English: In summary, the merged entity will manage its commercial asset portfolio in the same way as a private asset manager would manage the work-out of a similar book. As regards the merged entity’s mortgage assets, the same obligations that apply to the commercial assets will apply mutatis mutandis.
Maltese: Fir-rigward tal-assi ipotekarji tal-entità fuża, l-istess obbligi li japplikaw għall-assi kummerċjali ser japplikaw mutatis mutandis.
English: In total, the merged entity will have access to an ELA of up to EUR […] billion, at the commencement of the merger, declining thereafter […]. The merged entity will pay the CBI an interest rate of […] bps for euro currency funding and […] bps for foreign currency funding, but will pay no fee for the State guarantee.
Maltese: B’kollox, l-entità fuża se jkollha aċċess għall-ELA sa EUR […] biljun, fil-bidu tal-fużjoni, li jonqos minn hemm ‘il quddiem […]. L-entità fuża se tħallas lis-CBI rata ta’ imgħax ta’ […] bps għall-finanzjament tal-munita euro u […] bps għal finanzjament ta’ muniti barranin, iżda ma hi se tħallas l-ebda tariffa għall-garanzija tal-Istat.
English: With regard to the measures already temporarily approved by the Commission as rescue aid in its earlier decisions pertaining to Anglo and INBS (namely measures (a) to (o) as set out in recitals 66 and 67), the Commission has already concluded that those measures constitute State aid in favour of Anglo and INBS. As a consequence, it is not necessary to reassess whether they constitute State aid in this Decision.
Maltese: Fir-rigward tal-miżuri diġà temporanjament approvati mill-Kummissjoni bħala għajnuna ta’ salvataġġ fid-deċiżjonijiet ta’ qabel tagħha għal Anglo u INBS (l-aktar il-miżuri (a) sa (o) kif stabbilit fil-premessi 66 u 67, il-Kummissjoni diġà kkonkludiet li dawk il-miżuri jikkostitwixxu għajnuna mill-Istat favur Anglo u INBS. Konsegwentement, mhuwiex neċessarju li jerġa’ jiġi vvalutat jekk jikkostitwixxux għajnuna mill-Istat f’din id-Deċiżjoni.
English: It should also be recalled that the participation of those two banks in State guarantee schemes is not taken into account for the calculation of the amount of aid relative to their risk weighted assets (hereafter ‘RWA’) in order to establish whether an in-depth restructuring is necessary. On the other hand, the aid element in the guarantees will be taken into account in the context of the restructuring. For those reasons, the Commission has not calculated the aid amount associated with those State guarantees.
Maltese: Għandu jiġi mfakkar ukoll li l-parteċipazzjoni ta’ dawn iż-żewġ banek fl-iskemi ta’ garanziji tal-Istat ma titqiesx għat-tħaddim tal-ammont ta’ għajnuna relattiva għall-assi ppeżati skont ir-riskju tagħhom (li minn hawn ‘il quddiem jissejħu “RWA” – “Risk Weighted Assets”) sabiex jiġi stabbilit jekk huwiex meħtieġ ristrutturar dettaljat. Min-naħa l-oħra, l-element ta’ għajnuna fil-garanziji se jiġi kkunsidrat fil-kuntest tar-ristrutturar. Għal dawn ir-raġunijiet, il-Kummissjoni ma kkalkulatx l-ammont ta’ għajnuna assoċjata ma’ dawk il-garanziji tal-Istat.
English: Considering the discount levels estimated by Anglo’s market advisors in May 2010, the fire sale of non-NAMA loans from Anglo would imply substantially higher losses than an orderly work-out of the loan book ([…]) [66]. Overall, the losses that would be incurred in case of an immediate liquidation of Anglo would imply greater losses to those that the loans would bear if they are worked out over a long period.
Maltese: Meta jitqiesu l-livelli ta’ skont stmati mill-konsulenti tas-suq ta’ Anglo f’Mejju 2010, il-bejgħ bl-għaġġla tas-self mhux tan-NAMA mill-Anglo jkun jimplika telf notevolment ogħla milli maħdum b’mod ordinat tal-ktieb tas-self ([…]) [66].B’mod ġenerali, it-telf li jkun imġarrab fil-każ ta’ likwidazzjoni immedjata ta’ Anglo jkun jimplika telf akbar minn dak li jġarrab is-self li kieku dan jiġi maħdum fuq perjodu twil ta’ żmien.
English: Additional financing to existing regulatory groups: The merged entity may not provide additional financing which is not contractually committed at the time of the approval of the restructuring plan (in line with commitment (2) above). As an exception to that prohibition, the merged entity may provided additional amounts to existing regulatory groups if it complies with the commitment in point (3) and
Maltese: Finanzjament addizzjonali għal gruppi regolatorji eżistenti: l-entità fuża ma tistax tipprovdi finanzjament addizzjonali li mhuwiex impenjat kuntrattwalment fiż-żmien tal-approvazzjoni tal-pjan ta’ ristrutturar (b’konformità mal-impenn (2) aktar ‘il fuq). Bħala eċċezzjoni għal dik il-projbizzjoni, l-entità fuża tista’ tipprovdi ammonti addizzjonali għal gruppi regolatorji eżistenti jekk tikkonforma mal-impenn fil-punt (3) u
English: The overall amount of deposits from existing customers at the date of the merger will at no point in time exceed EUR 1 billion, and will not consist of deposits other than those defined in point (10) above. The merged entity will wind-down deposits at broadly the same rate as their related or connected assets are wound down (or, if there are no related or connected assets, at broadly the same rate as the overall net loan book is wound down) excluding currency movements and contractual commitments to retain deposits.
Maltese: L-ammont ġenerali ta’ depożiti minn klijenti eżistenti fid-data tal-fużjoni qatt mhi se taqbeż il-EUR 1 biljun, u mhijiex se tikkonsisti f’depożiti għajr dawk definiti fil-punt (10) aktar ‘il fuq. L-entità fuża se xxolji depożiti bejn wieħed u ieħor bl-istess rata bħal ma huma xolti l-assi relatati jew marbutin magħhom (jew, jekk mhemmx assi relatati jew marbutin, bejn wieħed u ieħor bl-istess rata bħalma hu xolt il-ktieb tas-self ġenerali nett) eskluż iċ-ċaqliq tal-muniti u l-impenji kuntrattwali għaż-żamma ta’ depożiti.
English: Enforcement and Reporting. The Irish authorities will ensure that the merged entity complies with the above listed commitments.
Swedish: Verkställande och rapportering: De irländska myndigheterna kommer att säkerställa att den sammanslagna enheten uppfyller ovanstående åtaganden.
Maltese: Infurzar u Rapportar.
English: The Irish authorities will submit regular reports on the measures taken to comply with the commitments. The first report will be submitted to the Commission not later than six months after approval from the date of notification of the Decision and thereafter at six-monthly intervals.
Maltese: L-awtoritajiet Irlandiżi se jiżguraw li l-entità fuża tikkonforma mal-impenji elenkati aktar ‘il fuq. L-awtoritajiet Irlandiżi se jissottomettu rapporti regolari dwar il-miżuri meħuda sabiex jikkonformaw mal-impenji. L-ewwel rapport se jiġi sottomess lill-Kummissjoni mhux aktar tard minn sitt xhur wara l-approvazzjoni mid-data tan-notifika tad-Deċiżjoni u wara din id-data, f’intervalli ta’ sitt xhur.
English: In line with what was requested in the first INBS recapitalisation decision, the INBS restructuring plan explored several options for the bank: (i) restructuring and continuation of the business with a view to selling it around 2013; (ii) immediate wind-down; or (iii) gradual wind-down to be completed by 2020. The sale required the lowest amount of State support in addition to EUR 2,7 billion already provided by the State at the time the plan was submitted.
Polish: Zgodnie z wymogami decyzji w sprawie pierwszej rekapitalizacji INBS w planie restrukturyzacji INBS zbadano kilka wariantów dla banku: (i) restrukturyzację i kontynuację działalności z zamiarem sprzedania go około 2013 r.; (ii) natychmiastową likwidację; lub (iii) stopniową likwidację do 2020 r. Sprzedaż wymagała najniższej kwoty pomocy państwa oprócz 2,7 mld EUR, które w chwili przedstawienia planu zostały już zapewnione przez państwo.
English: Based on the information available for the first and second tranches transferred to NAMA, a number of conclusions may be made. Firstly, the first tranche of commercial property loans that Anglo transferred to NAMA had a nominal value of EUR 9251 million.
Polish: Na podstawie dostępnych informacji dotyczących pierwszej i drugiej transzy przekazanej NAMA można wyciągnąć szereg wniosków.
English: The merged entity will not carry out activities other than those that are consistent with managing the work-out of the merged entity’s legacy loan book (including loan sales where appropriate to maximise recovery values and minimise capital losses). The merged entity will not develop any new activities and will not enter new markets.
Polish: Podmiot powstały w wyniku połączenia nie będzie prowadził innych działań niż działania zgodne z zarządzaniem restrukturyzacją odziedziczonego portfela pożyczek podmiotu powstałego w wyniku połączenia (w tym w stosownych przypadkach sprzedażą pożyczek w celu maksymalizacji wartości kwot możliwych do odzyskania i minimalizacji strat kapitałowych).Podmiot powstały w wyniku połączenia nie będzie podejmował nowych rodzajów działalności ani wchodził na nowe rynki.
English: The merged entity will, according to Ireland, only realise its assets as they mature or by selling them on the market. The merged entity will use the proceeds of those sales to repay its debts as they become due and fund its ongoing operational costs as well as any retained historic liabilities.
Portuguese: Segundo a Irlanda, a entidade resultante da fusão só liquidará os seus ativos à medida que forem vencendo ou vendendo-os no mercado e utilizará as receitas dessas vendas para pagar as suas dívidas, quando vencerem, e para financiar os seus custos operacionais, bem como para o saneamento do seu passivo histórico remanescente.
English: Risk management in Anglo was not sufficiently developed and allowed uncontrolled balance sheet growth combined with risky lending practices (such as high loan-to-value lending and interest-only lending), in particular during the years of the Irish property boom. Between 1984 and 2008, the Bank’s balance sheet grew at a compound growth rate of approximately 30 % per year, reaching a balance sheet of EUR […] billion in 2008. The loans-to-deposit ratio (hereinafter referred to as ‘LtD’) increased from 100 % pre-1990 to an average of 217 % in the period from 2008 to 2009.
Slovak: Riadenie rizík v Anglo nebolo dostatočne rozvinuté a umožnilo nekontrolovaný rast bilančnej hodnoty spojený s rizikovými praktikami úverovania (ako je poskytovanie úverov pri vysokom pomere úveru k hodnote a úverov len za úroky, najmä počas rokov írskej konjunktúry v oblasti nehnuteľností. V rokoch 1984 až 2008 bilančná hodnota banky sa zvyšovala pri celkovej miere rastu približne 30 % ročne a v roku 2008 dosiahla výšku […] mld. EUR. Pomer úverov ku vkladom (ďalej len „LtD“) sa zvýšil zo 100 % pred rokom 1990 na priemerných 217 % v období rokov 2008 až 2009.
English: Originally, the notification also covered an individual State guarantee on Anglo’s short-term liabilities (after the expiry of the Irish Eligible Liabilities Guarantee scheme on 29 September 2010). However, on 4 August 2010 Ireland withdrew the notification of the individual State guarantee and only maintained the notification of the third recapitalisation.
Slovenian: Prvotno je priglasitev vsebovala tudi posamezno državno jamstvo za kratkoročne obveznosti banke Anglo (po izteku irske jamstvene sheme za upravičene obveznosti 29. septembra 2010), vendar je Irska 4. avgusta 2010 umaknila priglasitev posameznega državnega jamstva in ohranila samo priglasitev tretje dokapitalizacije.
English: That funding is needed in order to ensure that Anglo and INBS have sufficient funding to cover their assets, while the funding the merged entity receives will enable it to work out the Anglo and INBS loan books over time. […].
Swedish: Denna finansiering behövs för att se till att Anglo och INBS har tillräckliga medel för att täcka sina tillgångar, samtidigt som finansieringen av den sammanslagna enheten kommer att ge den möjlighet att avveckla Anglos och INBS:s låneportföljer över tid […].
English: The merged entity will not develop any new activities and will not enter new markets. The merged entity will conserve and use its banking licence only as long as necessary for the work-out of the loan portfolio and will not use it to develop new activities.
Swedish: Den sammanslagna enheten kommer endast att ha kvar och utnyttja sin banklicens så länge som krävs för avvecklingen av låneportföljerna och kommer inte att använda den för att utveckla nya verksamheter.
English: Transfer of legacy Anglo and INBS deposits. Following the transfer of all legacy Anglo and INBS deposits (where deposits do not include intra-group deposits, interbank deposits, wholesale funding, debt-securities in issue or funding provided central banks and/or equivalent institutions), the merged entity will be left with the categories of deposits and accounts specified below (‘excluded liabilities’) which are permitted to remain in the merged entity, subject to any associated commitments:
Swedish: Överföring av Anglos och INBS:s insättningar: Efter överföringen av alla insättningar som innehades av Anglo och INBS (om insättningarna inte omfattar koncerninterna insättningar, insättningar mellan banker, kapitalmarknadsfinansiering, skuldebrev som är föremål för emission eller finansiering som tillhandahålls av centralbanker och/eller motsvarande institutioner), kommer den sammanslagna enheten att ha kvar vissa kategorier av insättningar och konton som anges nedan (”undantagna skulder”), som den sammanslagna enheten alltså har rätt att behålla, med beaktande av eventuella anknutna åtaganden:
English: Caps on deposits and excluded liabilities. The merged entity will not collect deposits from new customers.
Swedish: Tak för insättningar och undantagna skulder: Den sammanslagna enheten kommer inte att bedriva inlåning med nya kunder.