natgillin/translations-raw huggingface dataset:
De største islandske banker accepterede at tilbyde alle overgearede kunder en realkreditjustering på 110 %, dvs. realkredittens hovedstol fastsættes til 110 % af ejendommens registrerede værdi.
The Authority welcomes Landbankinn's general commitment to divest as soon as possible all companies and shareholdings that are not related to its core business.
Nærmere beskrevet i kapitel 3 i nærværende afgørelse.
This will not only address the potentially competition concerns that could arise from the being such a dominant owner in the Icelandic real economy, but will also prevent putting the bank's viability at risk.
Se i denne forbindelse Rettens dom af 21.5.2010 i de forenede sager T-425/04, T-444/04, T-450/04 og T-456/04, Frankrig m.fl. mod Kommissionen, Sml. 2010 II, s. 2099, præmis 283 (efter appel) samt udtalelsen fra AG Mengozzi i appelsagen, dvs. sag C-399/10, Bouygues, præmis 47, hvor man fandt, at disse betingelser er for restriktive til, at man kan vurdere, hvorvidt der er tale om statsstøtte.
This draws the Icelandic authorities' and Landsbankinn's attention to the fact that due to the commitments breach of national law might also entail a misuse of aid.
Se f.eks. Kommissionens afgørelse af 10.10.2008 i sag NN 51/2008, Garantiordning for bankerne i Danmark, punkt 32, og Kommissionens afgørelse af 21.10.2008 i sag C 10/2008, IKB, punkt 74.
This remedies, at least to some extent, this particular competition concern that currently characterises Iceland's markets.
Se tilsynsmyndighedens afgørelse af 8.5.2009 om en ordning for midlertidig rekapitalisering af grundlæggende sunde banker med henblik på at fremme finansiel stabilitet og udlån til realøkonomien i Norge (205/09/KOL) på: http://www.eftasurv.int/?1=1&showLinkID=16694&1=1
On the basis the above the Authority considers that the above measures address the main competition issues that the Authority has identified in collaboration with the ICA.
Se i denne forbindelse et tilsvarende ræsonnement, som Europa-Kommissionen anlagde i forbindelse med investeringer foretaget af leverandører til en virksomhed i problemer i Kommissionens afgørelse C 4/10 (ex NN 64/09) — Støtte til Trèves (Frankrig).
Taking into account the overriding objective of financial stability, the Authority concludes that the commitments limit distortions of competition to a satisfactory degree.
Rapport fra økonomiministeren til Altinget (marts 2012), »The Future Structure of the Icelandic Financial System«, kap. 9.6, findes på: http://eng.atvinnuvegaraduneyti.is/media/Acrobat/Future-Structure.pdf.
The restructuring aid therefore complies with section 4 of the Restructuring Guidelines.
Se http://www.sedlabanki.is/lisalib/getfile.aspx?itemid=8260, s. 5.
On the basis of the foregoing assessment and in the light of the restructuring plan submitted by the Icelandic authorities for Landsbankinn, the Authority's doubts expressed in the opening decision as regards the nature and the compatibility of the aid measures for Landsbankinn are allayed.
Se også Kommissionens afgørelse NN48/2008, Guarantee Scheme for Banks in Ireland, punkt 46 og 47: http://ec.europa.eu/community_law/state_aids/comp-2008/nn048-08.pdf og NN51/2008, Guarantee Scheme for Banks in Denmark: http://ec.europa.eu/community_law/state_aids/comp-2008/nn051-08.pdf.
Moreover, the Authority raises no objections to the Spkef transaction and authorises the aid that SpSv has received.
Se i denne forbindelse sag 730/79, Phillip Morris mod Kommissionen, Sml. 1980, s. 2671.
The Authority therefore approves the aid measures as restructuring aid compatible with the functioning of the EEA Agreement pursuant to Article 61(3)(b) EEA subject to Iceland and Landsbankinn adhering to the commitments as set out in the Annex.
Se Del VIII i Tilsynsmyndighedens statsstøtteretningslinjer.
HAS ADOPTED THIS DECISION:
The application of state aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, findes på http://www.eftasurv.int/?1=1&showLinkID=16604&1=1.
Article 1
En af de største ændringer i forhold til tidligere udgaver af reglerne er, at den tilladte åbne valutaposition i enkeltlande er sænket fra 20 % til 15 % af egenkapitalen, mens den tilladte samlede valutabalance er sænket fra 30 % til 15 %.
The initial operating capital and the final state capitalisation granted to Landsbankinn as well as the Spkef transaction and the deposit guarantee constitute state aid within the meaning of Article 61(1) of the EEA Agreement.
Hvis dette ikke lykkes gennem den finansielle virksomheds foranstaltninger, kan CBI beregne periodiske sanktioner.
Article 2
CBI har også taget andre skridt til at begrænse valutaubalancer, f.eks. ved at indgå en valuta-swapaftale med en af handelsbankerne og ved at købe fremmed valuta.
The measures enumerated in Article 1 constitute unlawful state aid from the dates of their implementation to the date of this decision in view of the failure by the Icelandic authorities to comply with the requirement to notify the Authority before implementing the aid in accordance with Article 1(3) of Part I of Protocol 3.
Ifølge CBI fremmer disse foranstaltninger øget finansiel stabilitet og styrker CBI's ikkelånte valutareserver.
Article 3
Jf. http://www.bis.org/press/p120412a.htm.
The measures enumerated in Article 1 as well as the measures for SpSv described in the Savings Banks decisions are compatible with the functioning of the EEA agreement pursuant to Article 61(3)(b) EEA subject adhering to the commitments as set out in the Annex.
Jf. f.eks. CBI's rapport om finansiel stabilitet 2011:2, hvori det hedder, at rentemarginalen er omkring 2-3 gange større i Island end i de øvrige nordiske lande.
The authorisation for the deposit guarantee is limited to the end of 2014.
Tabenes nøjagtige omfang er usikkert og varierer efter deres ranking.
Article 4
Ved udgangen af 2014 vil omstruktureringsperioderne for alle islandske banker, der er genstand for en formel undersøgelse, udløbe.
For the EFTA Surveillance Authority
Stempelafgiften varierer afhængigt af, hvilken type juridisk dokument, der er tale om, men er normalt på 15 ISK for hver påbegyndt tusinde ISK (dvs. omkring 1,5 %) af den pålydende værdi af rentebærende obligationer med sikkerhed i fast ejendom eller anden sikkerhed.
President
Beslutning nr. 325/11/KOL af 19.10.2011.
College Member
Jf. f.eks. Kommissionens afgørelse i sag SA.28264, Omstruktureringsstøtte til Hypo Real Estate, hvor Kommissionen accepterede udskillelsen af en stor del af Hypo Real Estates oversøiske forretning som en foranstaltning, der skulle begrænse konkurrencefordrejningen for bankens efterfølger, PBB.
This document is made available for information purposes only.
Med den samme begrundelse accepterer Tilsynsmyndigheden, at frasalgene er betinget af, at […].
In this public version, some information has been omitted so as not to divulge confidential information.
BILAG
This is denoted by […] or a range in square brackets providing for a non-confidential approximation of the relevant figure.
TILSAGN OG RELEVANTE ÆNDRINGER AF DEN JURIDISKE RAMME FOR BANKDRIFT
Please see a more thorough description in the opening decision, referred to in footnote 3.
DE ISLANDSKE MYNDIGHEDERS TILSAGN
The Authority's Decision No 493/10/COL, opening the formal investigation procedure into state aid granted opening the formal investigation procedure into state aid granted in the restoration of certain operations of (old) Landsbanki Islands hf and the establishment and capitalisation of New Landsbanki Islands (NBI hf) (now renamed Landsbankinn), OJ C 41, 10.2.2011, p. 31 and EEA Supplement to the Official Journal to the EU No 7, 10.2.2011, p. 26.
De islandske myndigheder har opgivet to tilsagn, som beskrives nedenfor.
Glitnir Bank was also placed in receivership on the same day and Kaupthing Bank followed two days later on 9.10.2008.
Ændring af stempelafgift for at udelukke statsstøtte og reducere omkostningerne ved at skifte
The SIC report (see paragraph 14 and footnote 4 of the present Decision) concluded (at page 86 of Chapter 21) that a key issue was that notwithstanding Landsbanki's liquidity in ISK, the bank had insufficient foreign currency at its disposal to honour its foreign obligations.
Finansministeriet vil nedsætte en arbejdsgruppe med mandat til at revidere lov nr. 36/1978 om stempelafgift.
The report also considered it noteworthy that the loan of 153 million Euros to its principal owner (referred to above) had taken place only days earlier, stating that it was therefore ‘apparent that the principal owners of Landsbanki were not interested in or capable of helping the bank out of the difficult position that had arisen’.
Arbejdsgruppen skal indsende en rapport til finansministeren i oktober 2012 sammen med et lovforslag.
The SIC's members were Supreme Court Judge, Mr Páll Hreinsson; Parliamentary Ombudsman of Iceland, Mr Tryggvi Gunnarsson; and Mrs Sigríður Benediktsdóttir Ph.D., lecturer and associate chair at Yale University, USA.
Arbejdsgruppen skal navnlig undersøge afskaffelsen af stempelafgifter på obligationer udstedt af privatpersoner, når disse overføres mellem kreditorer (f.eks. når private overfører deres lån fra en låneinstitution til en anden).
The report is available in full in Icelandic at: http://rna.althingi.is/ and parts translated into English (including the Executive Summary and the chapter on the causes of the collapse of the banks) are available at: http://sic.althingi.is/
Gruppen skal desuden undersøge, hvordan brugen af stempelafgiften kan ændres for at forenkle procedurerne og fremme konkurrencen.
Icelandic króna.
Foranstaltninger, der kan gøre det lettere at skifte og reducere omkostningerne ved at skifte
Lending to foreign parties increased by 11,4 billion Euros from 9,3 billion Euros to 20,7 billion Euros in six months.
Nedsættelsen af udvalget vil omfatte et særligt mandat til revision af mulighederne for og omkostningerne ved at skifte, og udvalget skal arbejde tæt sammen med den islandske konkurrencemyndighed om dette spørgsmål.
It was in fact the then coalition government's stated policy to encourage more growth and to incentivise the banks to remain headquartered in Iceland.
Udvalget skal fremlægge sin rapport senest den 15. januar 2013.
Chapter 2, page 5 of the report.
Desuden har de islandske myndigheder godkendt følgende forpligtelser for Landsbankinn:
For further general details of the measures taken by the Icelandic authorities see the report of the Minister of Finance to the Parliament on the resurrection of the commercial banks of May 2011 (Skýrsla fjármálaráðherra um endurreisn viðskiptabankanna), available at http://www.althingi.is/altext/139/s/-pdf/1213.pdf
Begrænsning af opkøb
Act No 125/2008 on the Authority for Treasury Disbursements due to Unusual Financial Market Circumstances etc.
Frasalg af […] og lukning af afdelinger
See also FME's Annual Report 2009 (July 2008 – June 2009), available at http://en.fme.is/media/utgefid-efni/FME-Annual-Report-2009.pdf
Landsbankinn forpligter sig til at sælge sine aktieposter i […] før [dato].
Further takeovers of financial undertakings were to follow.
Desuden forpligter Landsbankinn sig til at lukke […] af sine afdelinger [dato].
In March 2009, the FME took control of the operations of three financial undertakings; Straumur-Burdaras, the Reykjavik Savings Bank (SPRON) and Sparisjodabanki Íslands (Icebank), and decided on the disposal of the assets and liabilities of those undertakings.
Frasalg af aktier i selskaber under omstrukturering
While a composition agreement with Straumur's creditors was later approved, SPRON and Sparisjodabanki were submitted to a winding-up procedure.
Landsbankinn forpligter sig til generelt at sælge aktieposter i driftsselskaber, som den har overtaget som følge af omstruktureringer, jf. artikel 22 i loven om finansielle virksomheder nr. 161/2002.
Other financial undertakings were also severely affected by the collapse of the three main commercial banks and prevailing uncertainties in financial markets, and further financial undertakings were made subject to public administration in 2010.
Desuden forpligter banken sig til at følge proceduren og overholde tidsfristerne i overstående retlige bestemmelse.
Thus, the FME appointed a provisional board of directors for VBS Investment Bank in March 2010.
Endelig vil banken stille ajourførte oplysninger til rådighed på sit websted (eller et websted tilhørende et relevant datterselskab) om de aktieposter, der sættes til salg.
In April 2010, the FME took control of Keflavík Savings Bank and Byr Savings Bank, determining that their operations would be taken over by new financial undertakings, SpKef Savings Bank and Byr hf, respectively.
Navnlig forpligter Landsbankinn sig til at udbyde sine aktieposter til sag i følgende virksomheder, forudsat at disse, herunder deres finansielle positioner, aktiviteter og fremtidsudsigter ikke er omfattet af betydelig juridisk risiko/risiko for tvister eller dermed sammenlignelig usikkerhed:
As the financial conditions of these new undertakings turned out to be worse than initially anticipated, SpKef was later merged with Landsbankinn, and Byr hf. was merged with Íslandsbanki, following a tender for the shares in Byr.
Foranstaltninger til fordel for nye og små konkurrenter
The Icelandic authorities were furthermore called upon, in 2009, to address the financial difficulties of Saga Capital Investment Bank and, in 2011, the Housing Financing Fund.
Landsbankinn forpligter sig til at gennemføre følgende foranstaltninger til gavn for nye og små konkurrenter:
As an example of the scale of the sharp depreciation, the monthly average exchange rate of the Euro to the Icelandic króna rose from 90,71 ISK in December 2007 to 184,64 ISK November 2009.
Landsbankinn vil frem til udgangen af 2014 hverken håndhæve kontraktbestemmelser eller indføre nye kontraktbestemmelser, hvor særlige betingelser vedrørende rentesatser gøres afhængige af, at man opretholder et vist minimum af forretninger med banken.
During the years 2009-2011, the share of investments in GDP has been only 13-14 %.
På sit websted stiller Landsbankinn lettilgængelige oplysninger til rådighed om proceduren for flytning af bankydelser til en anden finansiel institution.
Trade balance refers to the difference in earnings from exports and imports of goods and services.
På webstedet vil man desuden gøre de dokumenter, der er nødvendige for at skifte mellem finansinstitutioner, lettilgængelige.
It does not include the balance on primary income from abroad, which has been negative in past years, particularly since 2008.
De samme oplysninger og formularer til flytning vil være tilgængelige i bankens afdelinger.
This implies that despite the surplus on the trade balance, Iceland's overall current account has been negative during recent years although declining sharply since 2009.
Landsbankinn vil effektuere alle anmodninger om overførsel af banktjenester hurtigt.
On this subject see for instance the report of the Minister of Economic Affairs to the Althingi of March 2012, Future Structure of the Icelandic Financial System.
Landsbankinn vil ikke påberåbe sig statens deltagelse som en konkurrencefordel i forbindelse med markedsføring.
According to the ministry, this report is seen as a catalyst to an informed discussion of this important subject as it does not present fully formed proposals but sets out the main issues and outlook with reference to international developments.
Hvis der ikke er adgang til konkurrerende tjenesteudbydere, vil Landsbankinn tilbyde følgende tjenester til en pris, der er baseret på omkostningerne plus en rimelig margen:
The report is available at http://eng.efnahagsraduneyti.is/media/Acrobat/Future-Structure.pdf.
Betalingstjenester i ISK.
Bringing deposit guarantees back to normal conditions does not only relate to abolishing the state backing of such guarantees, but also to review the provisions in the Emergency Act according to which deposits which enjoy deposit guarantees by law have priority in the winding-up of a financial undertaking.
Distribution af sedler og mønter.
This provision is on the other hand likely to represent a handicap for the banks to diversify their funding arrangement.
FME's (det islandske finanstilsyn) beføjelser til at gribe ind (for at overtage generalforsamlingernes beføjelser og frasælge aktiver, jf. nødlov) er blevet skærpet, FME har fået udvidede tilsynsbeføjelser, der er vedtaget supplerende bestemmelser, som giver FME mulighed for at evaluere de enkelte overvågede parters transaktioner eller adfærd.
According to the same report, the Icelandic authorities also foresee to study other future options, including the possible separation of investment and commercial banking activities, the adoption of a financial stability legislation and possible amendment of the division of responsibility of financial services regulatory bodies.
Reglerne for store individuelle engagementer er blevet præciseret og gjort mere specifikke, risikostyringens rolle og ansvar er blevet styrket, og FME gav tilladelse til at give risikostyringen en højere status i finansielle virksomheders organisation, bestemmelserne om anvendelsen af stresstester er blevet strammet op.
See Chapter 6 of the report by the Minister of Economic Affairs to the Althingi, The Future Structure of the Icelandic Financial System, available at http://eng.efnahagsraduneyti.is/publications/news/nr/3559
Bestemmelserne for et særligt register over større låntagere er blevet lovliggjort for at give et bedre overblik over store individuelle engagementer til to eller flere finansielle virksomheder.
Since autumn 2008, several financial undertakings have disappeared from the market (in addition to the ‘old’ big commercial banks, Glitnir, Kaupthing and Landsbanki): Sparisjóðabanki Íslands (formerly Icebank), the Reykjavik Savings Bank (SPRON), Sparisjóður Mýrasýslu (Myrasysla Savings Bank, SPM), VBS Investment Bank and Askar Capital Investment Bank.
Registret er vigtigt med henblik på at sammenkæde engagementer og vurdere deres systemiske indvirkning, hvis der skulle opstå problemer med låntagernes transaktioner.
The operations of Straumur-Burdaras Investment Bank and Saga Capital Investment Bank have also diminished significantly.
Enheder, der ikke er underlagt FME's tilsyn, men som står opført i registrene over finansielle virksomheder, skal give FME oplysninger om alle deres forpligtelser.
On 11.4.2011, a contract for the sale of (old) MP bank's operations in Iceland and Lithuania was approved at the bank's shareholder meeting, when over 40 new shareholders invested 5,5 billion ISK in new shares in the bank.
FME kan forbyde levering af tjenester til sådanne parter, hvis de nægter at udlevere de ønskede oplysninger.
Other operations of the old bank remained with the previous owners and were transferred to a new legal entity, EA fjárfestingarfélag hf.
Bestemmelserne om sund virksomhedspraksis er blevet styrket, og klageudvalget for transaktioner med finansielle virksomheder indskrevet i lovgivningen, der skal offentliggøres detaljerede oplysninger om alle større ejerposter i finansielle virksomheder.
For further details, see MP bank's press releases of 11.4.2011 available at https://www.mp.is/um-mp-banka/utgefid-efni/frettir/nr/1511 and https://www.mp.is/um-mp-banka/utgefid-efni/frettir/nr/1510
Finansielle virksomheders tidsfrist til at frasælge de tilhørende aktiver er blevet afkortet.
According to the settlement, RB and its owners have agreed to a number of commitments aimed at preventing distortions of competition resulting from RB's operations and the cooperations of its owners.
Bestemmelserne om finansielle virksomheders beholdninger af egne aktier er blevet strammet op og defineret nærmere.
The commitments require, inter alia, that RB shall be operated on general commercial terms independent from its owners and the majority of RB's board shall be composed of specialists independent from the owners, access to the systems and services provided by RB shall be provided on a non-discriminatory basis and the terms of services provided by RB shall be the same irrespective of whether or not the client is a shareholder in RB.
Aktieposter i datterselskaber betragtes nu som egne aktier og det samme gælder kontrakter vedrørende egne aktier, der ikke er balanceført.
Existing owners of RB have committed to offer regularly for sale part of their holdings in RB, with the aim of facilitating non-financial undertakings to acquire ownership in RB.
Finansielle virksomheder har fået forbud mod at tilbyde kredit med sikkerhed i egne aktier eller garantbeviser.
Such invitations shall be made at least every second year, until at least a third of total shareholdings in RB have been sold to parties other than the current shareholders or offered for sale in a shares offering.
FME skal nu vedtage regler for, hvordan lån med sikkerhed i et pant i aktier i andre finansielle virksomheder skal indregnes i risikogrundlaget og kapitalgrundlaget.
The ICA uses the term ‘operating companies’ for the banks' holdings in normally non-financial businesses which the banks have acquired in relation to the restructuring of their loan portfolios through debt to equity swaps or otherwise.
Den interne revisionsafdelings ansvar og rolle er blevet styrket.
Likewise, the Authority uses the term ‘operating company’ for real economy undertaking, which do not belong to the bank's core business in financial markets.
Der findes detaljerede regler vedrørende balancen mellem størrelsen og diversiteten af aktiviteterne i den pågældende finansielle virksomhed og dens interne revisionsafdelings ansvarsområde.
In this context, the Authority understands that indirect ownership refers to the banks' possible influence and control over companies due to their high indebtedness to the bank.
Der er indført en begrænsning på fem år for den periode, hvor et revisionsfirma kan udføre revisionen af den samme finansielle virksomhed, finansielle virksomheders mulighed for at afvise en »besværlig« revisor reduceres.
Annual Report 2007, page 10.
Alle bestemmelser vedrørende beregningen af egenkapital og forskellige andre tekniske aspekter er blevet revideret.
Available here: http://www.lbi.is/library/Opin-gogn/pdf/landsbanki_annual_report_2007.pdf?bcsi_scan_A7E1E556D7B2F94D=aB9LkrKRu+y0xx3fim/JyUDnRB0bAAAANp6SAg==&bcsi_scan_filename=landsbanki_annual_report_2007.pdf
Reglerne om udøvelse af kvalificerede andele, dvs. 10 % af stemmerettighederne eller derover, er blevet revideret.
Annual report 2007, p. 61.
FME har tilladelse til at vende bevisbyrden i forbindelse med vurderingen af parter, der har til hensigt at anskaffe eller udvide kvalificerede andele, f.eks. når det er usikkert, hvem der er ejeren af et holdingselskab med en kvalificeret andel.
Monetary figures are referred to in this section first in the currency in which the capital was provided, followed by a reference in brackets to the corresponding amount in ISK or Euros (as appropriate) where it has been provided by the Icelandic authorities.
Der stilles nu yderligere egnethedskrav til direktører, deres ansvar for tilsyn eller transaktioner er udvidet, og bestyrelsesformænd med udøvende beføjelser er blevet forbudt, FME har tildelt bestyrelsen en styrket tilsynsrolle, der skal offentliggøres identificerbare oplysninger om topledelsens aflønning.
The definition of Core Tier I capital includes only equity, i.e. share capital and retained earnings, but does not include subordinated loans or other types of hybrid capital instruments.
Der er opstillet regler vedrørende kredittransaktioner, som finansielle virksomheder foretager med direktører, administrerende direktører, centrale medarbejdere samt ejere af kvalificerede andele i den pågældende finansielle virksomhed.
On 15.6.2012, Landsbankinn announced that it would start paying back (parts of) those bonds Landsbanki earlier than expected.
Tilsvarende regler gælder for parter, der har en tæt sammenhæng med ovennævnte.
See http://www.landsbankinn.com/news-and-notifications/2012/06/15/Landsbankinn-starts-to-repay-bond-before-schedule/.
FME har vedtaget regler for, hvad man opfatter som tilfredsstillende sikkerhedsstillelse for sådanne transaktioner.
The contingent bond is linked to the valuation and performance of certain reference assets.