natgillin/translations-raw huggingface dataset:
Med en tolerancegrænse på 10 %.
Without prejudice to the competences of Bank of Portugal as banking supervisor of CGD, the CoCo repayment shall be, totally or partially, suspended if, on the basis of a reasoned request by CGD endorsed by the Monitoring Trustee, it is considered that it would endanger the solvency position of the Bank in the following years.
Se fodnote 7.
CGD undertakes to pay EUR 405,415 (equivalent amount to the coupon payment of 28 September 2012) to the Portuguese Republic by end of 2013.
Værdisat pr. 31. december 2012.
Behavioural measures and corporate governance
BPN blev nationaliseret i 2008 og solgt i 2011.
Ban on acquisitions:
Den 31. december 2012 havde den nettoaktiver (baseret på regnskaberne) [5] til en værdi af i alt 116,9 mia. EUR og en nettoudlånsportefølje til en værdi af i alt 74,7 mia. EUR.
CGD commits to refrain from making acquisitions.
Bankens aktiviteter omfatter bl.a. national og international forretningsbankvirksomhed (særligt i Spanien og den portugisisktalende del af Afrika, Macao og Brasilien), investeringsbankvirksomhed, kapitalforvaltning, specialiseret kreditvirksomhed og forsikringsaktiviteter.
This applies to both the purchase of companies with their own legal structure, and shares in companies or asset bundles that represent a commercial transaction or a branch of activity.
Tabel 1
This does not apply to acquisitions that must be made in order to maintain financial and/or association related stability, or in the interests of effective competition, provided they have been approved beforehand by the Monitoring Trustee.
CGD's finansielle hovedtal (baseret på regnskaber)
This does not apply either to (1) acquisitions that belong, in terms of the management of existing obligations of customers in financial difficulty, to a bank’s normal on-going business or (2) to Venture capital activity or (3) to acquisitions that fall under the exceptions foreseen in clause 4.2.6 and that comply with the procedure foreseen therein or (4) to acquisitions within the group or (5) to acquisitions of shares in Portuguese companies that are not credit institutions in which CGD already holds at least 50 % provided they have been approved beforehand by the Monitoring Trustee.
Aktiver i alt (mia. EUR)
The obligation is to apply until the Restructuring Period ends.
Med hensyn til solvens var CGD's tier 1-kernekapital (Core Tier 1, »CT1«) — beregnet ifølge Basel II-reglerne — på 9,48 % pr. 31. december 2011.
CGD may acquire stakes in undertakings provided that the purchase price paid by CGD for any acquisition is less than [0-5] % of the balance sheet size of CGD on the last day of the month previous to the Decision and that the cumulative net purchase prices paid by CGD for all such acquisitions over the whole Restructuring Period is less than [0-5] % of the balance sheet size of CGD at that same date.
Formålet med FCP var bl.a. at opnå en CT1-ratio på 10 % i henhold til Basel II-reglerne inden den 31. december 2012 i overensstemmelse med aftalememorandummet mellem den portugisiske regering på den ene side og IMF, Kommissionen og ECB på den anden.
Ban on commercial aggressive practices:
CGD havde allerede bestræbt sig på at nedgeare sin balance før kapitalforhøjelsen i juni 2012.
The beneficiary bank shall avoid engaging in aggressive commercial practices throughout the duration of the Restructuring Period.
Fra december 2010 til juni 2012 reducerede banken sin balance med næsten 8,2 mia. EUR (regnskab).
Proprietary trading:
CGD vil også sælge alle de resterende ikke-strategiske kapitalinteresser, banken ejer i noterede portugisiske selskaber, inden den […] og dermed nedgeare sin balance med yderligere ca. [200-250] mio. EUR.
Portugal will ensure that CGD will not engage in any proprietary trading beyond the minimum necessary for the normal functioning of the treasury.
CGD har allerede solgt størstedelen af sine ikke-strategiske kapitalinteresser, hvilket gav en indtægt på ca. 450 mio. EUR.
During the Restructuring Period, the total VAR limit of the financial assets held for trading will not exceed EUR [30-40] million.
CGD har endvidere planer om gradvist at afvikle en aktivportefølje, der hidrører fra en gæld fra den konkursramte Banco Português de Negócios (»BPN«) [10], med en nominel værdi på [0-5] mia. EUR og en nettoaktivværdi på ca. [0-5] mia. EUR.
Advertising:
Ifølge den tilknyttede tilbagebetalingsordning vil værdien af nettoaktiverne blive reduceret med [40-50] % til [0-5] mia. EUR indtil udgangen af 2017.
CGD must not use the granting of the aid measures or any advantages arising therefrom for advertising purposes.
Lukningen af [70-80] filialer i Portugal fra juni 2012 til […] indgår i en periodisk optimeringsproces for at omvurdere og rationalisere CGD's indenlandske aftryk på detailområdet og forventes at føre til årlige besparelser på [0-5] mio. EUR.
Assurances regarding corporate governance
58 filialer er allerede blevet lukket eller er i øjeblikket ved at blive lukket, og de resterende [10-20] vil blive lukket før […].
All members of the management bodies of CGD shall have the competences established in Articles 30 and 31 of the General Framework for Credit Institutions and Financial Companies, approved by Decree-Law 298/92, of 31 December, as amended, as well as in the EBA Guidelines on the assessment of the suitability of members of the management body and key function holders, of 22 November 2012 (EBA/GL/2012/06).
Selv om CGD's internationale virksomhed i øjeblikket klarer sig meget bedre end den indenlandske virksomhed og yder store bidrag til bankens samlede resultat, giver CGD's virksomhed i Spanien tab. CGD begyndte sin detailvirksomhed i Spanien i 1991 ved at opkøbe Banco de Extremadura og Chase Manhattan España og siden Banco Simeón i 1995.
There should be no more than 20 board members.
Disse detailbankaktiviteter foregår nu i Spanien gennem et datterselskab af CGD under navnet Banco Caixa Geral (»BCG«).
CGD’s shareholder will aim to reduce that number to 16 at the end of the present board’s term of office.
Til sammenligning opnåede CGD i Portugal et afkast af sin bankvirksomhed på -[10-20] % i 2012.
Besides the committees established in CGD’s Articles of Incorporation (being the Executive Committee and Audit Committee) and the Strategy, Governance and Assessment Committee established by the Board of Directors and composed of non-executive directors, CGD is to appoint only the internal bodies which are necessary to assist in the management of the company, which shall be composed of members of the Executive Committee and, when appropriate, of CGD employees holding senior management positions in the relevant areas.
Da de internationale aktiviteter bidrager positivt til CGD-koncernens samlede økonomiske situation, men kun udgør en lille del af aktiviteterne, fokuserer omstruktureringsplanen på at forbedre de indenlandske operationers rentabilitet.
All of CGD’s decisions shall be taken on purely commercial grounds and all of Portugal’s interactions with CGD shall be on arm’s length terms.
Ifølge CGD's fremskrivning vil »credit at risk« yderligere stige i omstruktureringsperioden fra et allerede højt niveau på 12 % til [10-20] % ved udgangen af 2017.
Portugal commits not to exert any influence on the day-to-day operational management of CGD nor on CGD’s internal rules regarding credit risk policies, pricing and lending.
Banken planlægger desuden at øge udbuddet af credit at risk til [50-60] %.
However, Portugal may issue guidelines regarding CGD’s strategic focus and other issues on the basis of the general terms of corporate law and the law of public enterprises (Decree-Law 558/99, of 17 December, as amended).
Kommissionen minder om, at CGD har modtaget statsstøtte i form af kapitaltilførsler og CoCo'er til et beløb på 1650 mio. EUR.
Portugal will not compromise the full independence of the Bank management with reference to credit risk and lending policies if consulted in relation to CGD’s business plans and plans for lending to specific sectors of the economy.
Støttebeløbet svarer til 2,3 % af CGD's risikovægtede aktiver [17], som er relativt lave.
The Credit Council, the Extended Credit Council, and the Audit Committee of CGD shall be put into a position to act fully independently, and all appointments to the Credit Council, the Extended Credit Council, and the Audit Committee respect that members of those bodies must be in a position to act independently and free of any conflict of interest.
Nogle af bankens aktiver er blevet overført til CGD.
CGD ensures that until 31 December 2013 at the latest its credit and risk policies will incorporate the principle that all customers are to be treated fairly through non-discriminatory procedures other than those related to credit risk and ability to pay, which is to be consistently applied within the group.
Afgørelse af 17. december 2012, sag SA.
The credit and risk policies will define the principles and thresholds above which the granting of loans must be approved by higher levels of management, the terms and conditions for the restructuring of loans, and the handling of claims and litigations.
35747 (12/N), EUT C 43 af 15.2.2013, s. 21.
CGD ensures that until 31 December 2013 at the latest a specific section within the credit and risk policies will be devoted to the rules governing relations with connected borrowers (including employees, shareholders, directors, managers, as well as their spouses, children and siblings and any legal entity directly or indirectly controlled by any of those).
Omstruktureringsperioden slutter den 31. december 2017.
In order to ensure CGD’s compliance with principles set out in point 6.5.1 to 6.5.7 the Trustee will be allowed to:
Tilsagnene gælder i omstruktureringsperioden, medmindre andet er fastsat.
receive copies of all reports emanating from internal control bodies including the minutes of the meetings, and be entitled to interview, at its sole discretion, any controller or auditor, no matter his/her managerial responsibilities.
Indtil hver af de ovennævnte ikke-strategiske aktiebeholdninger er solgt, må CGD under ingen omstændigheder forhøje sin finansielle eksponering (f.eks. lån og garantier) for et sådant selskab, undtagen hvis det a) sker som led i deres normale forretningsførelse under de herskende markedsvilkår eller b) er strengt nødvendigt for at bevare værdien af den relevante egenkapitalinteresse eller c) på anden vis sker i forbindelse med en minimering af kapitaltab og/eller forbedring af den forventede inddrivelsesværdi af sådanne eksponeringer eller interesser.
The Trustee shall ensure (i) that recommendations from permanent supervisors or periodic controllers/auditors are dully enforced and (ii) that action plans are implemented in order to correct any failure identified within the internal control framework.
CGD vil gøre sit bedste for at nedbringe sin finansielle eksponering for sådanne selskaber.
regularly monitor CGD’s commercial practices, with a focus on credit policy and deposit policy.
Som følge heraf måtte CGD mindske sin afhængighed af engrosfinansiering og aktiverede sin betingede likviditetsplan i første kvartal af 2010, idet man efterfølgende prøvede at a) finde alternative finansieringskilder, hovedsagelig gennem finansiering mod sikkerhed, b) øge puljen af gyldig sikkerhedsstillelse, som kunne accepteres af ECB, c) sælge ikke-strategiske aktiver og d) fremlægge sine egne kreditoplysninger for investorer og modparter.
The Trustee shall review CGD’s policy toward the restructuring and provisioning of non-performing loans.
Salget af de resterende ikke-strategiske kapitalinteresser vil bidrage med [0-5] mia. EUR, tilbagebetalingen af gælden vedrørende den tidligere Banco Português de Negócios (»BPN«) [0-5] mia. EUR og afviklingen af ikke-kernekredit i Spanien [0-5] mia. EUR.
CGD shall communicate to the Trustee any risk report communicated to the Executive Board, or any analysis/review aimed at assessing the credit exposure of CGD.
Endvidere vil omkring to tredjedele af ikke-kerneporteføljen ([10-20] mia. EUR) blive afviklet inden udgangen af 2017, mens den resterende ikke-kerneportefølje vil blive afviklet efter 2017.
The Trustee shall perform its own analysis and investigations, on the basis of the above-mentioned reports, interviews, and, if need be, the review of individual credit files.
Ifølge omstruktureringsplanen vil CGD fortsat skære ned i sine lønomkostninger i løbet af omstruktureringsperioden og stile mod en reduktion på [5-10] % og regner med lønomkostninger på [500-550] mio. EUR i december 2013 og [450-500] mio. EUR i december 2017.
In that regard, a full access to credit files is to be granted to the Trustee, who is entitled to interview credit analysts and risk officers when deemed appropriate.
Antallet af ansatte i Portugal bliver reduceret med [5-10] %.
regularly monitor CGD’s management of claims and litigations.
Det tredje hovedelement i omstruktureringsplanen vedrører omstrukturering af bankvirksomheden i Spanien.
The Trustee shall ensure that claims and litigations are managed according to the procedures defined in the internal control framework of CGD, and that CGD complies with the industry best practices.
Engrosvirksomheden, som blev startet lige før finanskrisen, har givet meget dårlige resultater og har over en forholdsvis kort periode akkumuleret betydelige tab på omtrent 250 mio. EUR pr. december 2012.
The Trustee will identify corrective actions to implement in case of deficiencies in the current process.
Engrosvirksomheden vil blive indstillet helt og […].
Remuneration of bodies and employees:
n.v.t.
CGD shall verify the incentive effect and appropriateness of its remuneration systems and ensure that they do not result in exposure to undue risks, are oriented towards sustainable, long-term company objectives, and are transparent.
foranstaltningen skal være finansieret af en medlemsstat eller ved hjælp af statsmidler, b) den skal indrømme en selektiv fordel til visse virksomheder eller visse produktioner, og c) den skal fordreje eller true med at fordreje konkurrencevilkårene og kunne påvirke samhandelen mellem medlemsstaterne.
CGD as a financial institution shall establish and implement its policies on salary and compensation matters strictly in accordance with the rules set forth by the Portuguese Government in Decree-law 104/2007, of 3 April (which transposed the Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions) as amended by Decree-Law 88/2011, of 20 July, and with the rules established by the Portuguese Central Bank in Aviso 10/2011, of 29 December.
Statsobligationsporteføljen blev erhvervet gennem »carry trade«-transaktioner (finansieret af ECB's etårige finansiering).
Furthermore, CGD’s remuneration policy of the Board Members shall also be compliant with Decree-Law 71/2007 of 27 March, which establishes the regime of the statute of the Stated controlled companies’ board members.
Selv om sådanne transaktioner under visse omstændigheder kunne betragtes som risikotagning over gennemsnittet, udgjorde de erhvervede obligationer gyldig sikkerhedsstillelse, og de relevante ratingmeddelelser lå en del over Portugals »investment grade« (AA-).
Likewise, CGD commits to ensure that the Bank complies with the rules and recommendations set out by the European Commission in this subject within the EU framework for State aid.
Se betragtning 25 i afgørelsen om den nye rekapitaliseringsordning for kreditinstitutioner i Portugal SA.
In particular, CGD undertakes to restrict the total remuneration to any member of staff, including board members and senior management, to an appropriate level, including all possible fixed and variable components, comprising pensions and in line with Articles 92 and 93 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.
34055 (11/N) af 30.5.2012.
Ban on dividend, coupon and interest payments:
Størrelsen [1] af den samlede kombinerede balance af kerneaktiviteter og ikke-kerneaktiviteter var 120642 mio. EUR i december 2011.
CGD will not (and shall procure that none of its subsidiary undertakings shall) make any payments of dividends, coupons or interest to holders of preference shares and subordinated debt, in so far as those payments are not owed on the basis of contractual or legal obligations.
I juni 2012 var balancen på i alt 117694 mio. EUR, og ved udgangen af december 2012 var den samlede balance på 116857 mio. EUR.
However, CGD shall be allowed to make payments (or allow its subsidiary undertakings to make payments) of dividend, coupons or interest to holders of preference shares or subordinated debt if it can prove that non-payment would hinder or prevent the repayment of the CoCos (or payment of coupons on the CoCos) that is described in section 5.
Størrelsen af ny kreditproduktion (netto), dvs. kredit genereret efter udgangen af 2012, som ikke er forfaldet til betaling eller indløst inden […], skal være [900-950] mio. EUR eller derover.
Support of Portuguese SMEs:
Andelen af ny kreditproduktion vedrørende grænseoverskridende forretninger er [20-30] % eller derover.
In view of securing financing to and deleveraging of the real economy, CGD has committed to the Portuguese Government to allocate EUR 30 million per year to a fund that will invest in equity of Portuguese SMEs and mid-cap corporates.
Den vægtede gennemsnitlige indlånsomkostning er højst […] [8], og LDR er på [100-150] % eller derunder.
The fund shall be managed according to international best practice by the Bank or a third party with sufficient expertise and awareness of investment opportunities.
Unionens AEO-program, der dækker AEO-certifikatet »sikkerhed og sikring« og AEO-certifikatet »toldforenklinger/sikkerhed og sikring«, jf. Kommissionens forordning (EØF) nr. 2454/93 [1], sammenholdt med Rådets forordning (EØF) nr. 2913/92 [2]
the Union AEO Programme, covering the ‘AEO certificate — security and safety’, and the ‘AEO certificate — customs simplifications/security and safety’, as provided for in Commission Regulation (EEC) No 2454/93 [1], together with Council Regulation (EEC) No 2913/92 [2];
Artikel 2
Economic operators holding an AEO certificate in the Union, as referred to in point (a), and Enterprises holding class AA status under the MCME in China, as referred to in point (b) (hereinafter referred to as ‘Programme Members’).
Gensidig anerkendelse og ansvar for gennemførelse
Article 2
Programmerne for Unionen og for Kina anerkendes herved som værende forenelige og ækvivalente.
Mutual Recognition and Responsibility for Implementation
De hertil svarende programmedlemsstatusser accepteres gensidigt.
The Programmes of the Union and China shall hereby be mutually recognised to be compatible and equivalent.
De i toldsamarbejdsaftalens artikel 1, litra b), anførte toldmyndigheder (i det følgende benævnt »toldmyndigheder«) er ansvarlige for gennemførelsen af denne afgørelse.
The corresponding Programme Member statuses granted shall be mutually accepted.
De træffer foranstaltninger til at gennemføre denne afgørelse.
The Customs Authorities defined in point (b) of Article 1 of the CCMAAA (hereinafter referred to as ‘Customs Authorities’) shall be responsible for implementation of this Decision.
Artikel 3
They shall take measures to implement this Decision.
Forenelighed
Article 3
Toldmyndighederne sørger for, at der er sammenhæng mellem programmerne.
Compatibility
De standarder, der anvendes for programmerne, skal blive ved med at være forenelige med hensyn til følgende:
The Customs Authorities shall maintain consistency between the Programmes.
ansøgningsprocedure for tildeling af medlemsskab
The standards applied to the Programmes shall remain compatible with respect to the following matters:
tildeling af medlemsskab og overvågning af medlemsstatus.
the application process for granting membership;
Artikel 4
granting of membership and managing of membership status.
Fordele
The Customs Authorities shall ensure that the Programmes operate within the context of the SAFE Framework.
Hver toldmyndighed giver samme fordele til programmedlemmer under den anden toldmyndigheds program.
Article 4
Fordelene skal især omfatte følgende:
Benefits
der tages positivt hensyn til status for et programmedlem, der er bemyndiget af den anden toldmyndighed, således at antallet af inspektioner, kontroller og andre lignende sikkerheds- og sikringsforanstaltninger kan nedbringes
Each Customs Authority shall provide comparable benefits to Programme Members under the other Customs Authority's Programme.
der tages hensyn til status for et programmedlem, der er bemyndiget af den anden toldmyndighed, med henblik på at behandle programmedlemmet som en sikker partner, når myndigheden vurderer kravene til forretningspartnere for ansøgere under dets eget program
The benefits shall include, in particular:
der tages hensyn til status for et programmedlem, der er bemyndiget af den anden toldmyndighed, i forbindelse med prioriteret behandling, hurtig behandling, forenklede formaliteter og hurtig frigivelse af forsendelser, når programmedlemmet er involveret
taking the status of a Programme Member authorised by the other Customs Authority into account favourably in its risk assessment to reduce inspections or controls and in other security and safety-related measures;
det tilstræbes at oprette en fælles mekanisme for forretningskontinuitet for at kunne reagere på afbrydelser i samhandelen på grund af forhøjet alarmniveau, grænselukninger og/eller naturkatastrofer, farlige nødsituationer eller andre alvorlige hændelser, således at vigtigt gods, der har tilknytning til programmedlemmet, kan behandles og sendes i videst muligt omfang af toldmyndighederne.
taking the status of a Programme Member authorised by the other Customs Authority into account with a view to treating the Programme Member as a secure and safe partner when assessing the business partners requirements for applicants under its own Programme;
Efter den evaluering, som er omhandlet i artikel 7, stk. 2, kan toldmyndigheden give yderligere fordele, herunder strømline behandlingen og øge forudsigeligheden af varefrigivelsen i vides muligt omfang i samarbejde med andre statslige myndigheder.
taking the status of a Programme Member authorised by the other Customs Authority into account in ensuring priority treatment, expedited processing, simplified formalities and expedited release of the shipments where the Programme Member is involved;
Hver toldmyndighed har bemyndigelse til at suspendere de fordele, som programmedlemmer under den anden toldmyndigheds program har i henhold til denne afgørelse.
endeavouring to establish a joint business continuity mechanism to respond to disruptions in trade flows due to increases in security alert levels, border closures and/or natural disasters, hazardous emergencies or other major incidents, where priority cargos related to Programme Members could be facilitated and expedited to the extent possible by the Customs Authorities.
I tilfælde af suspension af fordele fra en toldmyndigheds side, skal dette straks meddeles til og begrundes over for den anden toldmyndighed med henblik på høring og vurdering.
Following the review process referred to in Article 7(2), each Customs Authority may provide further facilitation benefits, including streamlining processes and increasing the predictability of cargo release, to the extent possible, in cooperation with other government authorities.
Hver toldmyndighed underretter den anden toldmyndighed om uregelmæssigheder, der involverer programmedlemmer under den anden toldmyndigheds program, for at sikre en omgående undersøgelse af, hvorvidt de pågældende fortsat bør nyde de fordele og den status, som den anden toldmyndighed har indrømmet dem.
Each Customs Authority shall retain the authority to suspend the benefits provided to Programme Members of the other Customs Authority's Programme under this Decision.
Artikel 5
Such suspension of benefits by one Customs Authority shall be reasoned and promptly communicated to the other Customs Authority for consultation and proper assessment.