natgillin/translations-raw huggingface dataset:
E. vzhledem k tomu, že vyšší míra transparentnosti hlavních rysů hypotečních produktů, které jsou k dispozici, nejen zlepší účinné fungování trhu, ale zvýší rovněž důvěru těch vypůjčovatelů v EU, kteří uvažují o získání hypotečního úvěru v jiných členských státech, a umožní jim učinit informované rozhodnutí,
E. whereas enhanced transparency on key features concerning available mortgage products will not only improve market efficiency, but also increase the confidence of EU borrowers looking at mortgage credit deals in other Member States and enable them to take an informed decision,
F. vzhledem k tomu, že spotřebitelé musejí mít přístup k nejúplnějším a nejjednodušším informacím, jež jsou v každém konkrétním případě standardně poskytovány a jež jim umožní srovnání situace v jednotlivých členských státech, aby měli možnost uplatnit při přeshraničním sjednávání hypotečního úvěru účinněji svobodu volby,
F. whereas consumers need to have access to the fullest and simplest information possible, provided on a case-by-case basis in standard forms lending themselves to comparative study across Member States, in order to enable them to exercise their freedom of choice more effectively when taking out mortgage credit on a cross-border basis,
G. vzhledem k tomu, že cílená opatření ke zlepšení množství produktů a služeb, širší dostupnosti a integrovanému trhu s financováním by mohla zvýšit účinnost trhu, úspory z rozsahu a diverzifikaci, omezit náklady na čerpání úvěru, a být tudíž přínosem pro evropské hospodářství,
G. whereas targeted measures for an improved product and services range, wider availability and an integrated funding market could enhance market efficiency, economies of scale and diversification, reduce borrowing costs, and thereby benefit the European economy,
H. vzhledem k tomu, že v případě přeshraničních půjček je vytvoření rovného přístupu do úvěrových databází pro poskytovatele úvěrových služeb klíčovým příspěvkem na podporu úvěrových činností souvisejících s hypotečními půjčkami a k vytvoření jednotného evropského trhu s hypotékami,
H. whereas creating access to client credit databases for mortgage service providers in case of cross-border lending is a crucial contribution to boosting competition in mortgage-based lending activity and creating a single European mortgage market,
I. vzhledem k tomu, že integrovaný trh s hypotečními úvěry usnadní mobilitu pracovních sil,
I. whereas an integrated mortgage market will facilitate workers' mobility,
J. vzhledem k tomu, že ze strany poskytovatelů hypotečních úvěrů nebo organizací spotřebitelů je překvapivě vyvíjen jen malý tlak na rozvíjení jiných druhů přeshraničního poskytování úvěrů, než fyzickým zřízením sídla na jednotlivých vnitrostátních trzích,
J. whereas, surprisingly, there is little pressure from mortgage lenders or consumer organisations to develop cross-border lending other than by physical establishment in the separate national markets,
K. vzhledem k tomu, že zvýšení nabídky přeshraničních hypotečních úvěrů, která tvoří méně než 1 % celkového trhu s hypotečními úvěry v EU, dosud bránily nemalé překážky,
K. whereas considerable market barriers have so far hindered the increase of cross-border mortgage credit offers, so far amounting to less than 1% of the overall EU mortgage market,
L. vzhledem k tomu, že v řadě důležitých otázek nemá Společenství žádnou nebo jen omezenou pravomoc a že je nutno zachovávat zásadu subsidiarity a proporcionality,
L. whereas on a number of important issues the Community has no competence, or only a limited competence, and whereas the principles of subsidiarity and proportionality must be respected,
M. vzhledem k tomu, že zprostředkovatelé hypotečních úvěrů mohou hrát důležitou roli tím, že využijí svých odborných znalostí a zkušeností s hypotečními produkty na domácích trzích i na trzích jiných členských států a podpoří přeshraniční činnost a budou působit jako spojovací článek mezi spotřebiteli a zahraničními i místními finančními institucemi,
M. whereas mortgage brokers can play an important role, drawing on their expertise with mortgage products on their domestic market but also in markets across Member States, supporting cross-border activity and acting as a bridge between consumers and both foreign and local financial institutions,
N. vzhledem k tomu, že z důvodu odlišných právních, daňových a regulačních podmínek a podmínek ochrany spotřebitelů mezi členskými státy existují významné odlišnosti v nabídce a vlastnostech produktů, distribučních strukturách, délce trvání úvěrů a mechanismech financování,
N. whereas significant variations in the range and characteristics of products, distribution structures, loan durations, and funding mechanisms exist between Member States, due to differing legal, fiscal, regulatory, and consumer protection conditions,
O. vzhledem k tomu, že trhy s hypotečními úvěry jsou mimořádně složité a že se právní systémy a způsoby financování a dále systém pozemkových a katastrálních úřadů, věcné právo, úvěrové smlouvy, otázky oceňování nemovitostí, právo zabývající se soudní dražbou, trhy refinancování apod. mezi jednotlivými zeměmi velmi liší a zároveň mezi těmito oblastmi existuje vnitřní spojitost,
O. whereas mortgage credit markets display an extremely high degree of complexity; whereas legal systems and financing cultures, property law and land register systems, law of rights in rem, law governing credit agreements, valuation issues, forced sales procedures, refinancing markets, etc. differ considerably from one country to another while at the same time an internal coherence exists among the various fields,
P. vzhledem k tomu, že existují daňové překážky diskriminační povahy, které brání využití jednotného trhu pro hypoteční úvěr, a které někdy dokonce porušují právní předpisy Společenství,
P. whereas there still exist tax obstacles of a discriminatory nature which impede the exploitation of a single market for mortgage credit and may in some cases even contravene EC legislation,
Q. vzhledem k tomu, že mezi trhem s hypotečními úvěry a makroekonomickou politikou, a zvláště realizací měnové politiky existuje přímá spojitost,
Q. whereas there is a direct link between the mortgage market and macro-economic policy and the conduct of monetary policy in particular,
R. vzhledem k tomu, že volatilita úvěrového trhu může mít vliv na bydlení a hospodářské cykly, a může tedy způsobovat systémové riziko,
R. whereas mortgage market volatility can affect housing and economic cycles and thus cause systemic risk,
S. vzhledem k tomu, že v zájmu efektivnějšího a konkurenceschopnějšího trhu s hypotečními úvěry v EU se jeví jako vhodné posoudit uplatňování a efektivnost doporučení Komise ze dne 1. března 2001 o poskytování předsmluvních informací spotřebitelům ze strany poskytovatelů úvěrů nabízejících půjčky na bydlení
S. whereas, in order to bring more efficiency and competitiveness to the EU mortgage credit market, it may be preferable to look first at the implementation and effectiveness of the Commission Recommendation of 1 March 2001 on pre-contractual information to be given to consumers by lenders offering home loans
T. vzhledem k tomu, že výše zmíněný kodex chování byl v řadě členských států patrně uplatňován s různou mírou úspěšnosti, aniž by ovšem vyřešil celkový problém neexistujícího společného právního rámce,
T. whereas the above-mentioned Code of Conduct appears to have been implemented with varying degrees of success across Member States, yet without solving the overall problem of the lack of a common legal framework,
3. vítá široké konzultace Komise a trvá na tom, aby veškerým konkrétním návrhům předcházela důkladná hodnocení hospodářských a sociálních dopadů;
Welcomes the Commission’s wide consultation and insists that any specific proposals should be preceded by thorough economic and social impact assessments;
6. varuje Komisi, že pokusy o harmonizaci produktů samých by mohly vést k právní neslučitelnosti, což by mělo negativní dopad na daný sektor;
Cautions the Commission that attempts to harmonise products themselves might lead to legal inconsistencies and thus produce a negative impact on the sector;
Kodex chování a předsmluvní informace
Code of Conduct and pre-contractual information
11. domnívá se, že prvořadou prioritou je rozvoj jednotného, otevřeného a slučitelného trhu financování, neboť povede ke zvýšení účinnosti, umožní mezinárodní diverzifikaci úvěrových rizik, optimalizaci podmínek financování a alokace kapitálu a snížení nákladů na úvěry; uznává význam začlenění trhem řízených iniciativ v této oblasti a jejich potenciál;
Considers that the development of a single, open and compatible funding market is a first priority as it will boost efficiency, allow international diversification of credit risk, optimise funding conditions and capital allocation, and reduce borrowing costs; recognises the importance of and the potential for integrating market-led initiatives in this area;
19. podporuje kroky Komise k usnadnění přeshraničních fúzí a akvizicí ve finančních službách, ale s tím, že se u nich zajistí, aby distribuční sítě zohledňovaly požadavky situace daného regionu a menších trhů, avšak konstatuje, že samotné přeshraniční fúze a akvizice integraci trhu v této oblasti nepodpoří;
Supports Commission action to facilitate cross-border mergers and acquisitions in financial services, while ensuring that distribution networks take into account the requirements of regional situations and smaller markets, but notes that cross-border mergers and acquisitions alone will not promote integration of the market in this area;
22. vyzývá Komisi, aby prozkoumala překážky, které brání přeshraničnímu převodu úvěrů, a aby dále prozkoumala potenciál eurohypotéky jako nástroje zajištění, a to včetně posouzení souvisejících záruk;
Calls on the Commission to investigate impediments to the transfer of loans across borders and to explore further the potential of the Euromortgage as a collateral instrument, including consideration of the accompanying guarantees;
Právní, daňové a provozní překážky
Legal, fiscal and operational barriers
35. souhlasí s Komisí, že otázka práva platného pro smlouvy o hypotečních úvěrech by měla být řešena v souvislosti s přepracováním Římské úmluvy z roku 1980 o právu, jež se uplatňuje na smluvní závazky;
Agrees with the Commission that the issue of the law applicable to mortgage credit contracts should be addressed within the context of the revision of the 1980 Rome Convention on the law applicable to contractual obligations;
Systémové, makroekonomické a obezřetnostní záležitosti
Systemic, macroeconomic and prudential issues
Mortgage credit markets
Mortgage credit markets
Mortgage loans outstanding at the end of 2004 amounted to €4.7 trillion, or 45% of the EU's GDP
Mortgage loans outstanding at the end of 2004 amounted to €4.7 trillion, or 45% of the EU's GDP
European Mortgage Federation's Press Release, 12/10/05. .
European Mortgage Federation's Press Release, 12/10/05. .
Over the past 5 years the average annual growth in mortgage lending has been 8.5%.
Over the past 5 years the average annual growth in mortgage lending has been 8.5%.
This has financed a burgeoning housing market and, in some countries, released equity to fund, for example, shortfalls in retirement provision.
This has financed a burgeoning housing market and, in some countries, released equity to fund, for example, shortfalls in retirement provision.
Mortgage finance is one of the sectors expected to grow most over the next 15 years.
Mortgage finance is one of the sectors expected to grow most over the next 15 years.
The case for integration
The case for integration
Among the several potential benefits of greater integration of EU mortgage markets, mortgage lenders and funders would realise economies of scale and opportunities for diversification.
Among the several potential benefits of greater integration of EU mortgage markets, mortgage lenders and funders would realise economies of scale and opportunities for diversification.
This should improve competition, efficiency and consumer choice and reduce costs.
This should improve competition, efficiency and consumer choice and reduce costs.
There should be more opportunities for people currently unable to enter the housing market to do so.
There should be more opportunities for people currently unable to enter the housing market to do so.
A more integrated EU mortgage market could help labour mobility and retirement financing.
A more integrated EU mortgage market could help labour mobility and retirement financing.
A home represents the largest lifetime purchase for many and the related mortgage is often their largest financial obligation.
A home represents the largest lifetime purchase for many and the related mortgage is often their largest financial obligation.
Mortgage debt impacts consumer demand and the general economy via household spending.
Mortgage debt impacts consumer demand and the general economy via household spending.
Hence greater integration could affect the EU economy overall and the balance between housing expenditure and other consumption and investment choices.
Hence greater integration could affect the EU economy overall and the balance between housing expenditure and other consumption and investment choices.
By improving capital efficiency and lowering credit risk, there is a link to the Lisbon agenda's economic and social targets.
By improving capital efficiency and lowering credit risk, there is a link to the Lisbon agenda's economic and social targets.
Lack of integration
Lack of integration
The Green Paper says the EU mortgage credit markets are poorly integrated, pointing out the lack of cross-border lending and the variation in range of products from country to country.
The Green Paper says the EU mortgage credit markets are poorly integrated, pointing out the lack of cross-border lending and the variation in range of products from country to country.
Previous endeavours have made it easier for banks to operate cross-border (for example, when setting up branches), but retail market integration is limited.
Previous endeavours have made it easier for banks to operate cross-border (for example, when setting up branches), but retail market integration is limited.
The Financial Services Action Plan has focused primarily on wholesale markets.
The Financial Services Action Plan has focused primarily on wholesale markets.
There are significant differences between member states, which reflect the different social, cultural, legal and fiscal conditions.
There are significant differences between member states, which reflect the different social, cultural, legal and fiscal conditions.
Owner-occupier rates tend to be higher in the Southern and Eastern countries
Owner-occupier rates tend to be higher in the Southern and Eastern countries
Mortgage borrowing in the new member states is relatively small, although a dynamic housing market appears to be developing.
Mortgage borrowing in the new member states is relatively small, although a dynamic housing market appears to be developing.
Mortgage debt outstanding as a share of GDP (EU-25) ranges from 111% in the Netherlands to 2.3% of GDP in Slovenia
Mortgage debt outstanding as a share of GDP (EU-25) ranges from 111% in the Netherlands to 2.3% of GDP in Slovenia
The London Economics study highlighted the problem of defining mortgages or home loans in a satisfactory way for all member states.
The London Economics study highlighted the problem of defining mortgages or home loans in a satisfactory way for all member states.
Some countries define mortgages as loans secured on a property, while others use personal sureties to guarantee loans for house purchase.
Some countries define mortgages as loans secured on a property, while others use personal sureties to guarantee loans for house purchase.
The range of products, distribution structures, loan durations and funding mechanisms vary.
The range of products, distribution structures, loan durations and funding mechanisms vary.
Incompatible fiscal conditions, as well as additional regulatory or prudential requirements from national regulators, make entering a new market complex and costly.
Incompatible fiscal conditions, as well as additional regulatory or prudential requirements from national regulators, make entering a new market complex and costly.
Furthermore, national housing markets have developed with marked social and cultural differences.
Furthermore, national housing markets have developed with marked social and cultural differences.
There is currently no pan-European funding market.
There is currently no pan-European funding market.
It is fragmented because of legal, tax and regulatory obstacles.
It is fragmented because of legal, tax and regulatory obstacles.
Mortgages are funded mostly by retail savings.
Mortgages are funded mostly by retail savings.
Less than 40% are financed via capital markets, even though this has grown fast recently
Less than 40% are financed via capital markets, even though this has grown fast recently
Report by the Forum Group on Mortgage Credit, 2004. .
Report by the Forum Group on Mortgage Credit, 2004. .
Sweden and Germany have substantial mortgage bond markets and in Denmark mortgage institutions issue mortgage bonds against the entire value of mortgage loans.
Sweden and Germany have substantial mortgage bond markets and in Denmark mortgage institutions issue mortgage bonds against the entire value of mortgage loans.
Mortgage backed securities (MBS) markets are strongest in the Netherlands, Spain, Italy, UK, Ireland and Belgium, but do not exist in some countries
Mortgage backed securities (MBS) markets are strongest in the Netherlands, Spain, Italy, UK, Ireland and Belgium, but do not exist in some countries
London Economics study, August 2005. .
London Economics study, August 2005. .
The FSAP has provided a good basis for a more dynamic and competitive European financial services industry with improved and more up-to-date rules on investor protection and transparency.
The FSAP has provided a good basis for a more dynamic and competitive European financial services industry with improved and more up-to-date rules on investor protection and transparency.
The eurozone provides a currency zone where exchange risk is eliminated for borrowers and lenders and the capital markets have quickly developed to be substantial, flexible and liquid.
The eurozone provides a currency zone where exchange risk is eliminated for borrowers and lenders and the capital markets have quickly developed to be substantial, flexible and liquid.
The Green Paper
The Green Paper
The Green Paper examines the potential benefits of further integration and focuses on four main areas highlighted by the Forum Group report: consumer protection, legal issues (including taxation), collateral and funding.
The Green Paper examines the potential benefits of further integration and focuses on four main areas highlighted by the Forum Group report: consumer protection, legal issues (including taxation), collateral and funding.
The Commission intends to publish a White Paper in early 2007, setting out its consultation findings and any proposed initiatives.
The Commission intends to publish a White Paper in early 2007, setting out its consultation findings and any proposed initiatives.
Any proposals would aim to increase competition and market efficiency.
Any proposals would aim to increase competition and market efficiency.
It will not favour particular funding systems, products or institutions.
It will not favour particular funding systems, products or institutions.
Your rapporteur's opinion
Your rapporteur's opinion
It was clear from the Committee's Workshop of 22 February that there is no strong appetite from either industry or consumer groups for greater cross-border provision of mortgage credit.
It was clear from the Committee's Workshop of 22 February that there is no strong appetite from either industry or consumer groups for greater cross-border provision of mortgage credit.
Borrowers are unlikely to shop abroad or take out a mortgage with a foreign-based lender, unless their products are being promoted in or subject to the familiar protections of their home country.
Borrowers are unlikely to shop abroad or take out a mortgage with a foreign-based lender, unless their products are being promoted in or subject to the familiar protections of their home country.
Lenders show little interest in cross-border lending, stressing the importance of local market knowledge.
Lenders show little interest in cross-border lending, stressing the importance of local market knowledge.
There is also no real appetite for a single, harmonising directive.
There is also no real appetite for a single, harmonising directive.
Local culture and traditions have helped shape the type of products available on national markets and consumers are unlikely to want a massive overhaul of the market and certainly no reduction in choice or consumer protection standards, which harmonisation might entail.
Local culture and traditions have helped shape the type of products available on national markets and consumers are unlikely to want a massive overhaul of the market and certainly no reduction in choice or consumer protection standards, which harmonisation might entail.
From an industry perspective, full harmonisation would be expensive, especially in areas such as consumer information and advice.
From an industry perspective, full harmonisation would be expensive, especially in areas such as consumer information and advice.
There is also resistance to basing integration on mutual recognition without a more level playing field.
There is also resistance to basing integration on mutual recognition without a more level playing field.
20 years ago the Commission proposal for legislation, which aimed to bring about a free market for mortgage credit based on mutual recognition, was never adopted due to disagreement in the Council.
20 years ago the Commission proposal for legislation, which aimed to bring about a free market for mortgage credit based on mutual recognition, was never adopted due to disagreement in the Council.
The London Economics survey
The London Economics survey
Ibid. found that lenders were, however, interested in expanding into foreign markets by using brokers or establishing subsidiaries or branches.
Ibid. found that lenders were, however, interested in expanding into foreign markets by using brokers or establishing subsidiaries or branches.
Nevertheless, technical barriers dissuade lenders from exploiting the single market even in this way.
Nevertheless, technical barriers dissuade lenders from exploiting the single market even in this way.
Any EU action must benefit the general public, either directly as mortgage borrowers or via an improved economy.
Any EU action must benefit the general public, either directly as mortgage borrowers or via an improved economy.
We should aim to establish the conditions which will encourage greater competition between lenders established in different member states, in order to develop a European mortgage credit market with a broad range of products at competitive prices.
We should aim to establish the conditions which will encourage greater competition between lenders established in different member states, in order to develop a European mortgage credit market with a broad range of products at competitive prices.
We must be careful not to act in a way which could be detrimental to this booming sector.
We must be careful not to act in a way which could be detrimental to this booming sector.
Only when there is a strong prospect of real improvement and where the benefits outweigh the costs should we favour legislative action.
Only when there is a strong prospect of real improvement and where the benefits outweigh the costs should we favour legislative action.
Further impact assessments should therefore be carried out on any specific measures proposed in the future.
Further impact assessments should therefore be carried out on any specific measures proposed in the future.
Your rapporteur would favour targeted measures aimed at removing specific barriers to lenders entering other EU countries' markets.
Your rapporteur would favour targeted measures aimed at removing specific barriers to lenders entering other EU countries' markets.