natgillin/translations-raw huggingface dataset:
Kommissionen bemærker også, at den alternative pakke ikke synes at lempe kravene til RBS.
Therefore, besides SME loans and deposits which were the focus of the measure targeted at increasing competition on the SME market, the Rainbow business' perimeter also included a large amount of retail loans and deposits.
Med hensyn til omkostninger ville gennemførelsen af den alternative pakke give RBS flere omkostninger ud over de allerede afholdte omkostninger.
The alternative package does not envisage the transfer of the retail and other non-SME assets and liabilities.
De kumulative omkostninger siden 2009 ville være væsentligt højere end det, som implicit fremgik af omstruktureringsafgørelsen.
It is focused on achieving a transfer of part of the SME customers, with their assets (loans) and liabilities (deposits).
Den alternative pakke vil sammen med de tabte markedsandele betyde et samlet fald i RBS' markedsandel på SMV-markedet, som mindst svarer til det, der fremgik af omstruktureringsafgørelsen.
The alternative package is therefore much smaller in terms of amounts of assets transferred, but attempts to deliver a similar outcome on the UK SME banking market.
Bekymringerne for, om den meget store støtte fra 2008-2009 blev brugt af RBS til at konsolidere eller øge sin markedsandel på det allerede koncentrerede SMV-marked, ville derfor blive dæmpet lige så meget, som hvis afhændelsen af Rainbow-virksomheden var blevet gennemført i overensstemmelse med omstruktureringsafgørelsen.
Conclusion on equivalence of the updated alternative package
Kommissionen mener derfor, at den alternative pakke er ækvivalent med afhændelsen af Rainbow-virksomheden med hensyn til at opnå den tilsigtede indvirkning på konkurrencen.
From the date of the Restructuring Decision (14 December 2009), RBS has genuinely tried to divest the Rainbow business as evidenced by the successive procedures launched, the significant amount of resources involved and manpower dedicated to the divestment of the Rainbow business.
Kommissionen bemærker også, at RBS har gennemført alle tilsagn og ændrede tilsagn (bortset fra afhændelsen af Rainbow-virksomheden) fra omstruktureringsafgørelsen og den ændrede omstruktureringsafgørelse.
In doing so, RBS has incurred significant costs (notably, the estimated costs of attempting to divest the Rainbow business, as described in recital 148).
Den anmeldte erstatning af ét tilsagn om afhændelse sker derfor som led i den korrekte gennemførelse af resten af omstruktureringsplanen.
The Commission also notes that the alternative package does not seem to lighten the requirements on RBS.
KONKLUSION
In terms of costs, besides the cost already incurred by RBS in the past, the implementation of the alternative package would impose an additional cost burden on RBS.
På grundlag af foregående vurdering er den tvivl om den alternative pakkes ækvivalens, som Kommissionen gav udtryk for i åbningsafgørelsen, fjernet.
The cumulative costs since 2009 would be significantly higher than what was implicitly expected by the Restructuring Decision.
De ændrede tilsagn påvirker ikke konklusionen i omstruktureringsafgørelsen og den ændrede omstruktureringsafgørelse, og den statsstøtte, der er ydet til RBS, bør derfor erklæres forenelig med det indre marked efter artikel 107, stk. 3, litra b), i TEUF.
The alternative package, in combination with the lost market shares, will result in total decrease of RBS market share in the SME market which is at least equivalent to what was envisaged in the Restructuring Decision.
Endvidere konkluderer Kommissionen, at den potentielle statsstøtte til modtagerne fra den alternative pakke bør erklæres forenelig som et nødvendigt element af de tilsagn, på grundlag af hvilke støtteforanstaltningen til fordel for RBS erklæres forenelig —
The concern that the very large 2008-2009 aid is used by RBS to consolidate or grow its market share in the already concentrated SME market would therefore be as much allayed as it would have been if the divestment of the Rainbow business had been implemented as envisaged by the Restructuring Decision.
VEDTAGET DENNE AFGØRELSE:
The Commission therefore considers that, in order to achieve the intended effect on competition, the alternative package is equivalent to the divestment of the Rainbow business.
Artikel 1
The Commission also notes that RBS has implemented all Commitments and Amended Commitments (other than the divestment of the Rainbow business) from the Restructuring Decision and the Amended Restructuring Decision.
Erstatningen af tilsagnet om at afhænde Rainbow-virksomheden med den alternative pakke som anmeldt af Det Forenede Kongerige vedrørende RBS er forenelig med det indre marked i henhold til traktatens artikel 107, stk. 3, litra b).
The notified replacement of a single divestment commitment is therefore taking place in the context of a correct implementation of the rest of the restructuring plan.
Erstatningen af tilsagnet om at afhænde Rainbow-virksomheden med den alternative pakke godkendes derfor.
CONCLUSION
Artikel 2
On the basis of the foregoing assessment, the Commission's doubts on the equivalence of the alternative package expressed in the Opening Decision have been dispelled.
Den potentielle statsstøtte til modtagerne af den alternative pakke er forenelig med det indre marked i henhold til traktatens artikel 107, stk. 3, litra b).
The amendment in commitments does not affect the conclusion reached in the Restructuring Decision and the Amended Restructuring Decision and the State aid provided to RBS should therefore be declared compatible with the internal market on the basis of Article 107(3)(b) TFEU.
Artikel 3
Furthermore, the Commission concludes that the potential State aid to beneficiaries from the alternative package should be declared compatible as a necessary part of the commitments on the basis of which the aid measures in favour of RBS are declared compatible,
Denne afgørelse er rettet til Det Forenede Kongerige Storbritannien og Nordirland.
HAS ADOPTED THIS DECISION:
Udfærdiget i Bruxelles, den 18. september 2017.
Article 1
På Kommissionens vegne
The replacement of the commitment to divest the Rainbow business with the alternative package notified by the United Kingdom regarding RBS is compatible with the internal market within the meaning of Article 107(3)(b) of the Treaty.
Medlem af Kommissionen
The replacement of the commitment to divest the Rainbow business by the alternative package is accordingly authorised.
EUT C 142 af 5.5.2017, s. 8.
Article 2
EUT C 119 af 7.5.2010, s. 1.
The potential State aid to beneficiaries of the alternative package is compatible with the internal market within the meaning of Article 107(3)(b) of the Treaty.
Disse er beskrevet i betragtning 31-77 i omstruktureringsafgørelsen.
Article 3
EUT C 24 af 23.1.2015, s. 4.
This Decision is addressed to the United Kingdom of Great Britain and Northern Ireland.
Disse er beskrevet i betragtning 27-49 i den ændrede omstruktureringsafgørelse.
Done at Brussels, 18 September 2017.
Betragtning 73 i omstruktureringsafgørelsen.
For the Commission
Ifølge omstruktureringsafgørelsens betragtning 73 defineres SMV-bankmarkedet som det segment af bankmarkedet, der omfatter virksomheder med en omsætning på op til 25 mio. GBP, og midcap som det segment, der omfatter virksomheder med en omsætning på mellem 25 mio. GBP og 1 mia. GBP.
Member of the Commission
Betragtning 93 i omstruktureringsafgørelsen.
OJ C 142, 5.5.2017, p.
Betragtning 28 og ændrede tilsagn 3.1 og 3.2 (A) i bilag I til den ændrede omstruktureringsafgørelse.
8.
Se fodnote 1.
OJ C 119, 7.5.2010, p.
Denne markedsundersøgelse omfattede de britiske myndigheders samtaler med seks større konkurrerende banker, 12 mindre konkurrerende banker og syv venturekapitalvirksomheder og fintech-virksomheder samt en undersøgelse udført af Charterhouse og bestilt af RBS om kunders bankskift inden for W&G's område.
1.
De større konkurrerende banker var CYBG PLC, Co-op Bank, Handelsbanken, Metro Bank, Santander UK PLC og TSB Bank.
For a full list of the State aid measures approved, see recitals 31 to 77 of the Restructuring Decision.
De mindre konkurrerende banker var Aldermore Group PLC, Allied Irish Bank, Atom Bank, Cumberland Building Society, Danske Bank, Monzo, OakNorth Bank, Paragon Bank PLC, Shawbrook Bank, Starling Bank, Tesco Bank og Virgin Money.
OJ C 24, 23.1.2015, p.
Blandt venturekapitalvirksomheder og fintech-virksomheder deltog British Business Bank Investments Limited, Business Growth Fund, Funding Circle, Louise Beaumont (en uafhængig fintech-ekspert), Iwoca, Nesta og Transferwise.
4.
Der findes en detaljeret beskrivelse af RBS i betragtning 4-11 i den ændrede omstruktureringsafgørelse.
For an overview of the amendments requested, see recitals 27 to 49 of the Amended Restructuring Decision.
De vigtigste proformatal for 2008-2016 er beskrevet i betragtning 7-10 i åbningsafgørelsen.
Recital 73 of the Restructuring Decision.
Kommissionen anvender i denne afgørelse de resultater, RBS har offentliggjort i sin årsrapport og sit årsregnskab for 2016.
Pursuant to recital 73 of the Restructuring Decision, SME banking market is defined as the segment of the banking market covering firms with a turnover up to GBP 25 million and mid-corporate as the segment covering firms with a turnover between GBP 25 million and 1 billion.
Risikovægtede aktiver er et udtryk for en banks aktiver justeret for risiko.
Recital 93 of the Restructuring Decision.
Dette tal bruges til at fastlægge kapitalkravene.
Recital 28 and Amended Commitments 3.1 and 3.2 (A) of Annex I to the Amended Restructuring Decision.
Betragtning 11 i den ændrede omstruktureringsafgørelse.
See footnote 1.
Egentlig kernekapital uden stemmeret, jf. betragtning 38 i omstruktureringsafgørelsen.
This market testing includes the UK Authorities' interviews with six large Challenger Entities, 12 smaller Challenger Entities and seven Venture Capital and Fintech respondents, as well as RBS commissioned research by Charterhouse into the switching behaviour of customers within the W&G perimeter.
HMT's pressemeddelelse: https://www.gov.uk/government/news/government-begins-sale-of-its-shares-in-the-royal-bank-of-scotland.
The large Challenger Entities were CYBG PLC; Co-op Bank; Handelsbanken; Metro Bank; Santander UK PLC; and TSB Bank.
RBS' pressemeddelelse: http://otp.investis.com/clients/uk/rbs/RNS/regulatory-story.aspx?cid=365&newsid=580941.
The smaller Challenger Entities were Aldermore Group PLC; Allied Irish Bank; Atom Bank; Cumberland Building Society; Danske Bank; Monzo; OakNorth Bank; Paragon Bank PLC; Shawbrook Bank; Starling Bank; Tesco Bank; and Virgin Money.
RBS' pressemeddelelse: http://otp.investis.com/clients/uk/rbs1/rns1/regulatory-story.aspx?cid=365&newsid=687910.
The VC/Fintech respondents were British Business Bank Investments Limited; Business Growth Fund; Funding Circle; Louise Beaumont (an independent fintech expert); Iwoca; Nesta; and, Transferwise.
Beskrevet i betragtning 19-25 i åbningsafgørelsen.
A detailed description of RBS can be found in the recitals 4 to 11 of the Amended Restructuring Decision.
Nyere finansielle institutter, der konkurrerer med de fire veletablerede nationale banker, der har den højeste markedsandel (82 % tilsammen i 2015) på det britiske bankmarked for SMV- og midcap-virksomheder.
Key pro forma figures from 2008 to 2016 are described in recitals 7 to 10 of the Opening Decision.
Organet vil have til formål at fremme og føre tilsyn med gennemførelsen af den alternative pakke.
In this decision, the Commission uses the results published by RBS in its annual report and accounts for full-year 2016.
Det vil være underlagt »Framework and State Aid Deed« ( »ramme- og statsstøtteaftalen«), som er en aftale, der skal indgås mellem finansministeriet, organet og RBS vedrørende tilsagnene.
RWA is a measure of the amount of a bank's assets, adjusted for risk.
Dvs. direkte kapitalomkostninger, årlige udgifter til gennemførelsen af den alternative pakke samt mistet indtjening i forbindelse med kundernes skift som følge af foranstaltning B, der vil blive modsvaret af en frigivelse af kapital, som er forbundet med disse kunder.
This measure is used in determining the capital requirements.
Løbende konto for erhvervskunder (Business Current Account, »BCA«): En konto, som er målrettet virksomheder og ikke private, og som giver mulighed for indskud, at modtage og foretage betalinger med check og/eller betalingskort, bruge hæveautomater og foretage faste betalinger med automatisk opkrævning og/eller stående ordre, men som ikke omfatter i) konti, hvor der kan stå midler i en anden valuta end Det Forenede Kongeriges officielle valuta, eller ii) konti, hvor der kan stå en kreditsaldo, som modregnes i et realkreditlån eller et lån (bortset fra et overtræk).
Non-voting Core Tier 1 capital, as further described in recital 38 of the Restructuring Decision.
Dette svarer til de personer, der skal udpeges i henhold til § 166 i den britiske lov af 2000 om finansielle tjenesteydelser og markeder (Financial Services and Markets Act 2000).
HMT press release: https://www.gov.uk/government/news/government-begins-sale-of-its-shares-in-the-royal-bank-of-scotland
Som beskrevet i betragtning 37 og 38.
RBS press release: http://otp.investis.com/clients/uk/rbs/RNS/regulatory-story.aspx?cid=365&newsid=580941
Finansiel teknologi eller fintech er et forretningsområde, som er baseret på anvendelse af software til at yde finansielle tjenester, såsom peer-to-peer, crowdsourcede tjenester osv.
RBS press release: http://otp.investis.com/clients/uk/rbs1/rns1/regulatory-story.aspx?cid=365&newsid=687910
Se fodnote 23.
UK Financial Investments Ltd Annual Report and Accounts 2016/2017.
Finansieringen til etablering og drift af organet vil løbe op i 20 mio. GBP i alt.
Described in recitals 19 to 25 of the Opening Decision.
En tjeneste, som understøttes af Bacs Payment Schemes Limited, og som giver mulighed for automatisk at overføre alle betalingsordninger til en ny bank og lukke en eksisterende konto.
Non-incumbent financial entities competing for business with the 4 long-established national banks which have the highest market share (combined 82 % market share in 2015) in the UK SME and mid-corporate banking market.
Se: https://www.currentaccountswitch.co.uk.
The Body will be established in order to facilitate and oversee the delivery of the alternative package.
Begreberne »Rainbow« og »W&G« henviser til samme forretningsenhed, som beskrevet i bilag 2 til den reviderede ordliste i bilaget til den ændrede omstruktureringsafgørelse.
It will be governed by the ‘Framework and State aid Deed’ which is a deed to be entered into between HMT, the Body and RBS in respect of the commitments.
Berettigede kunder er kunder i den RBS-forretningsenhed, der er kendt som W&G, og som er SMV'er.
Taking into account the upfront capital cost, the annual costs of operating the alternative package, and the loss of earnings associated with customers transferring as a result of Measure B, offset by the release of capital associated with such customers.
= Forretningshemmelighed.
Described in recitals 37 and 38 of this Decision.
De britiske myndigheder anslog, at gennemførelsesomkostningerne vil være på 38 mio. GBP for RBS tillagt yderligere omkostninger som følge af en løbende nedgang i indtjeningen på omkring […] GBP årligt.
Business Current Account (‘BCA’): means an account marketed to businesses rather than individuals, which provides the facility to hold deposits, receive and make payments by cheque and/or debit card, use automated teller machine facilities and make regular payments by direct debit and/or standing order, but does not include (i) an account in which money is held on deposit in a currency other than the official currency of the United Kingdom; or (ii) an account in which credit funds are held and offset against mortgage debt or a loan (other than an overdraft facility).
Se fodnote 11.
In a similar way to regulatory appointments under Section 166 of the Financial Services and Markets Act 2000.
Der er modtaget bemærkninger fra Santander UK plc, CYBG plc, Metro Bank PLC, Aldermore Bank plc, Masthaven Bank Ltd, Paragon Bank plc, Secure Trust Bank plc, Shawbrook Bank Ltd, Virgin Money plc, OakNorth Bank Ltd, Cumberland Building Society, Tide og RBS.
As described in recitals 37 and 38.
Charterhouse Research for RBS, som målte markedsandelen for virksomheder med en omsætning på over 25 mio. GBP.
Financial technology or Fintech is a line of business based on using software to provide financial services, such as peer-to-peer, crowdsourced services, etc.
CMA Retail Banking Market Investigation, Main Report, bilag A8.1-16, figur 12.
See footnote 23.
Se også betragtning 25 i åbningsafgørelsen.
The total funding for establishment and operation of the Body will amount to GBP 20 million.
Kilde: Charterhouse Research, undersøgelse af erhvervsbanker, 4. kvartal 2016, SMV'er med en omsætning på 0-25 mio. GBP.
A service supported by Bacs Payment Schemes Limited that allows to automatically transfer all payment arrangements to a new bank and to closes an existing account.
Data for 12 på hinanden følgende måneder.
See: https://www.currentaccountswitch.co.uk
Data vægtet efter region og omsætning, så de er repræsentative for de britiske virksomheder.
The term ‘Rainbow’ and ‘W&G’ refer to the same business perimeter as set out in Schedule 2 to the Revised Term Sheet annexed to the Amended Restructuring Decision.
Anslået samlet markedsstørrelse på […].
Eligible Customer means a customer of the division of RBS known as W&G which is an SME.
CMA Retail Banking Investigation, Final Report (9. august 2016): https://www.gov.uk/cma-cases/review-of-banking-for-small-and-medium-sized-businesses-smes-in-the-uk.
Business secret.
RBS fik Charterhouse til at undersøge de berettigede SMV-kunder i W&G-forretningsenheden for at afdække deres holdninger til at skifte og virkningen af incitamenter på, hvor sandsynligt det er, at de faktisk skifter.
The UK authorities estimated an implementation cost of GBP 38 million for RBS and an additional ongoing cost in reduced profit of about GBP […] per annum.
Undersøgelsen fokuserede på erhvervsbankkunder, der udgør […] af de […] kunder i W&G-forretningsenheden.
See footnote 11.
Undersøgelsen var både kvantitativ (med interviews med et repræsentativt udsnit på […] kunder) og kvalitativ ([…] dybdegående interviews).
Comments have been received from Santander UK plc, CYBG plc, Metro Bank PLC, Aldermore Bank plc, Masthaven Bank Ltd, Paragon Bank plc, Secure Trust Bank plc, Shawbrook Bank Ltd, Virgin Money plc, OakNorth Bank Ltd, Cumberland Building Society, Tide and RBS.
RBS' svar på åbningsafgørelsen, punkt 4.12.
Charterhouse Research supplied to RBS measuring market share for businesses with turnover in excess of GBP 25 million.
CMA Retail Banking Investigation, Final Report, afsnit 8.169.
CMA Retail Banking market Investigation main report appendix A8.1-16, figure 12.
CMA Retail Banking Investigation, Final Report, afsnit 17.19.
See also recital 25 of the Opening Decision.
CMA Retail Banking Investigation, Final Report, afsnit 17.14.
Source: Charterhouse Research Business Banking Survey Q4 2016 for SMEs with turnover from GBP 0-25 million.
Omfatter de direkte kapitalomkostninger på 425 mio. GBP til Capability & Innovation Fund (betragtning 43), udgifterne til oprettelse og drift af organet på 20 mio. GBP (fodnote 31), de direkte kapitalomkostninger til incitamentsordningen på 350 mio. GBP (betragtning 13) samt de anslåede driftsudgifter til RBS' gennemførelse på 38 mio. GBP (fodnote 36).
12 month rolling data.
De britiske myndigheder anslår, at de løbende omkostninger til tabt fortjeneste vil være på omkring […] GBP årligt (fodnote 36).
Data weighed by region and turnover to be representative of businesses in Great Britain.
Som analyseret i afsnit 5.2 i denne afgørelse.
Estimated total market size of […].
Betragtning 65 i den ændrede omstruktureringsafgørelse.
The CMA retail Banking Investigation Final report (9 August 2016): https://www.gov.uk/cma-cases/review-of-banking-for-small-and-medium-sized-businesses-smes-in-the-uk
Meddelelse fra Kommissionen om genoprettelse af rentabiliteten i finanssektoren under den nuværende krise og vurdering af omstruktureringsforanstaltninger på grundlag af statsstøttereglerne (EUT C 195 af 19.8.2009, s. 9).
RBS commissioned Charterhouse to undertake research with eligible SME customers within the W&G perimeter to explore their attitudes to switching and the impact of incentives on their likelihood to do so.
W&G's driftsresultat udgjorde 345 mio. GBP i 2016, 431 mio. GBP i 2015 og 467 mio. GBP i 2014 (kilde: segmentanalyse, RBS' årsrapporter).
The research focused on business banking customers, who account for […] of the […] customers in the W&G perimeter.
Betragtning 10 i åbningsafgørelsen.
The research was both quantitative (with a representative sample of […] customers interviewed) and qualitative ([…] in-depth interviews).
Betragtning 78 i den ændrede omstruktureringsafgørelse.
RBS response to the Opening Decision, paragraph 4.12.
Betragtning 82 i den ændrede omstruktureringsafgørelse.
CMA's retail Banking Investigation Final Report, paragraph 8.169.
Betragtning 238 i omstruktureringsafgørelsen.
CMA retail Banking Investigation Final Report, paragraph 17.19.
Betragtning 29 i den ændrede omstruktureringsafgørelse.
CMA retail Banking Investigation Final Report, paragraph 17.14.
Som nærmere beskrevet i betragtning 26-43 i denne afgørelse.
Includes the upfront capital cost of GBP 425 million of the Capability and Innovation Fund (recital 43), the funding for the establishment and operation of the Body of GBP 20 million (footnote 31), the upfront capital cost of the Incentivised Switching Scheme of GBP 350 million (recital 13) and the estimated operating expenses for implementation by RBS of GBP 38 million (footnote 36).
RBS, Lloyds Banking Group, HSBC og Barclays.
The UK authorities estimate ongoing cost in reduced profit of about GBP […] per annum (footnote 36).
Incitamentsordningen er nærmere beskrevet i betragtning 44-58 i denne afgørelse.
As analysed in Section 5.2 of the present Decision.
Som beskrevet i betragtning 82, litra a), og fodnote 45.
Recital 65 of the Amended Restructuring Decision.
Som beskrevet i betragtning 83, litra a).
Commission communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules (OJ C 195, 19.8.2009, p.
Som beskrevet i betragtning 78.
9).
Som beskrevet i betragtning 51.
W&G's operating profit amounted to GBP 345 million in 2016, GBP 431 million in 2015, GBP 467 million in 2014 (source: segmental analysis RBS annual reports).
Som beskrevet i betragtning 122 og 123 i åbningsafgørelsen.
Recital 10 of the Opening Decision.
Tallene i parentes for afhændelsen af Rainbow og den opdaterede alternative pakke omfatter tabet af markedsandele siden 4. kvartal 2011.
Recital 78 of the Amended Restructuring Decision.
Tallene i parentes for afhændelsen af Rainbow og den opdaterede alternative pakke omfatter allerede afholdte omkostninger på [1-3] mia. GBP.
Recital 82 of the Amended Restructuring Decision.
Se betragtning 68.
Recital 238 of the Restructuring Decision.
Baseret på data fra Charterhouse Research forelagt af de britiske myndigheder (se fodnote 42).
Recital 29 of the Amended Restructuring Decision.
Kommissionen bemærker, at der ikke findes specifikke data om midcap-segmentet, hvorfor markedsandelen for kunder over 25 mio. GBP bruges som indikator for markedsandelen.
As described in detail in recitals 26 to 43 of this Decision.
Baseret på data fra Charterhouse Research forelagt af de britiske myndigheder.
RBS, Lloyds Banking Group, HSBC and Barclays.
Som en del af den feedback, Kommissionen modtog efter åbningsafgørelsen.
The Incentivised Switching Scheme is described in detail in recitals 44 to 58 of this Decision.
Beløbet på [1-3] mia. GBP blev afstemt med de faktiske omkostninger, som blev faktureret på W&G-programmet af en ekstern konsulent.
As described in recital 82(a) and footnote 45.
Tabel 3 viser det direkte, samlede kapitaltab ved de forskellige alternativer.
As described in recital 83(a).
Det samlede kapitaltab med tillæg af de [1-3] mia. GBP, som RBS allerede har betalt, er angivet i parentes.
As described in recital 78.