natgillin/translations-raw huggingface dataset:
Der er tale om en række principper for revalueringen af landdistrikterne (et enormt problem, der er forbundet med landbrugsreformen), om en sund forvaltning af de store bycentre og om et helhedssyn på de store transportinfrastrukturer, samtidig med at der tages hensyn til miljøet.
(c) As the proposal aimed to offer equivalent options to non-bank investment firms and credit institutions, the choice between these options should preferably come from the firms themselves rather than solely from the supervisory authority.
ØSU har fuldt ud kunnet støtte Kommissionens forslag i de tre ovennævnte tekster og har tilføjet en række konstruktive bemærkninger.
(d) For firms other than credit institutions the planned initial capital requirements were lower than those laid down for credit institutions in the Second Banking Coordination Directive.
ØSU har kunnet glæde sig over at blive hørt om Kommissionens »Handlingsplan på turistområdet«, som svarer nøjagtigt til ØSU's to år gamle henstillinger i rapporten og udtalelsen om »Turisme og regionaludvikling«.
However, the Committee recognized that, for certain Member States, higher levels of minimum initial capital would place a burden on many investment firms.
ØSU understregede her, at de eksisterende former for turisme må spredes og reguleres, at såvel den historiske kulturarv som naturen må bevares, og at uddannelsen inden for turisterhvervet må fremmes.
The Committee was also concerned that higher levels of minimum initial capital would give an advantage to transmitters of orders (brokers, investment counsellors) in non-EC markets (e.g. New York) which had significantly lower initial capital require ments.
På dette område har ØSU vedtaget fire udtalelser: tre, som vedrører harmoniseringen og styrkelsen af forsigtighedsreglerne, og en, som hovedsagelig vedrører et forslag om at gøre det lettere for en række danske kreditforeninger at blive omdannet til aktieselskaber.
(a) Compulsory supervision on a consolidated basis of banking activities was extended to cases where the parent undertaking of the group was a 'financial holding company', i.e. an enterprise whose subsidiaries were exclusively or mainly credit or financial institutions;
ØSU bifalder Kommissionens forslag til direktiv, som har til formål at supplere direktivforslaget om investeringsservice på værdipapirområdet. Forslaget om kravene til egenkapital tilsigter især:
(b) When the parent undertaking of a group was a 'mixed-activity holding company', this company and its non-banking and non-financial subsidiaries were obliged to provide any information requested by the supervisory authorities of the credit institutions in the group;
— at fastlægge fælles regler vedrørende investeringsselskabers egenka pital
(c) The aims of supervision on a consolidated basis were specified;
— at fastsætte krav til startkapitalen
(d) The forms of consolidation to be used and their status (mandatory or optional) were set out more clearly and in greater detail.
— at fastlægge en fælles ramme for overvågningen af de markedsrisici, som disse selskaber er udsat for.
However, the Committee had one major reservation regarding the pro posal in general: it would create distortions of competition between economic operators who should be treated in the same way.
Selv om ØSU bifalder Kommissionens forslag, fremsætter det dog en række bemærkninger, som det skønner påkrævede: a) I direktivforslaget er der lagt vægt på, at bestemmelserne bør øge, eller i hvert fald ikke forringe, EF's tiltrækningskraft som finanscenter.
The proposal allowed the competent authorities to exclude from consolidation specialist financial institutions whose activities exposed them principally to market risks.
I Den Internationale Betalingsbank gør man sig for øjeblikket overvejelser i forbindelse med kreditinstitutternes valuta- og markedsrisici.
This meant, in plain language, that the problem of consolidation did not arise for a bank which dealt in securities itself, and not through a subsidiary; its activities were governed by the prudential rules applicable to banks as supervised by the competent authority.
Det er formålstjenligt at nå frem til en konvergens mellem EF og de internationale instanser, både hvad angår de kommende reglers indhold og tidspunktet for deres ikrafttræden.
However, a bank which had set up a subsidiary for handling its security dealings could, with the agreement of the authorities, avoid the consolidated supervision which would be the only means of enabling these two types of bank to be treated equally.
b) Ved behandlingen af forsigtighedsrisici bør man efter ØSU's mening anvende et konsolideret grundlag.
Of course, the question arose of fair competition between banks operating under two different systems: on the one hand, there was the continental European system consisting of universal banks or security dealing houses which were consolidated subsidiaries of banks and, on the other, there was the system of separate commercial banks and investment firms, where the latter might be subsidiaries of banks but were supervised separately and therefore not consolidated with the parent company.
— at sikre lige konkurrencevilkår for kreditinstitutter og ikke-kreditin-stitutter.
The Committee felt that the compulsory consolidation of investment firms in a banking group was also necessary for the following reasons:
c) Da forslaget tager sigte på at skabe ensartede muligheder for investeringsselskaber, der ikke er kreditinstitutter, og kreditinstitutter, ville det være ønskeligt, om disse virksomheder selv kunne vælge mellem de tilbudte muligheder under overvågning af tilsynsmyndigheden, så valget ikke udelukkende blev overladt til sidstnævnte myndighed.
(i) The distinction between credit institutions and investment firms was becoming less and less clear-cut. The boundary between the two types of firm was becoming blurred, with each carrying out transactions which had formerly been almost the exclusive province of the other.
d) De foreslåede krav til startkapital for selskaber, der ikke er kreditinstitutter, er lavere end de krav, der er fastsat for kreditinstitutter i det andet banksamordningsdirektiv.
One should therefore abandon the 'institutional' approach of legislating according to the type of institution and instead adopt a 'transactional' approach of legislating according to the type of transaction performed.
Eftersom kreditinstitutter er mindre specialiserede og engagerer sig i en bredere vifte af aktiviteter, har de en risikospredning, som der er taget højde for i det andet banksamordningsdirektiv, men ikke desto mindre stilles der heri krav om større startkapital.
(ii) Consolidation allowed credit transactions relating to dealings in securities (e.g. lombard loans, advances on securities, margin financing) to be subject to the Solvency Ratio Directive (SRD).
Sektionen erkender dog, at krav om større startkapital vil være en byrde for mange investeringsselskaber i visse EF-lande.
The volume of such credit transactions carried out by investment firms was considerable.
Sektionen frygter endvidere, at krav om større startkapital kan indebære fordele for ordregivere (vekselerere, investeringsrådgivere) fra markeder uden for EF, f.eks. New York, hvor startkapitalkravene er meget lempeligere.
If such loans were not deducted from own funds as an illiquid asset, they must be treated in the same way as banks, which were generally subject to an own funds requirement of 8% under the SRD.
— Tilsyn med kreditinstitutter på et konsolideret grundlag
Large exposures of credit institutions
b) Når koncernens moderselskab er et »blandet selskab«, forpligtes dette blandede selskab og de datterselskaber, der hverken er kredit- eller finansieringsinstitutter, til at meddele alle oplysninger, som tilsynsmyndighederne for koncernens kreditinstitutter måtte forlange.
However, because of the complexity of this field and the difficulties of understanding all the economic and financial implications of an approach which inevitably was concerned with regulatory rather than economic criteria, the Committee was obliged to make certain key comments.
c) Man har præciseret, hvilke elementer det konsoliderede tilsyn skal omfatte.
The Committee first pointed out that the Commission proposal was inspired by the Basle Committee.
d) Konsolideringsmetoderne og den indre værdis metode samt deres obligatoriske eller fakultative anvendelser er foreskrevet på en mere detaljeret og præcis måde.
However, the latter's text, without saying so explicitly, was addressed to large credit institutions operating on an international scale. The Commission's proposal concerned all credit institutions in the EC, irrespective of their size.
ØSU har dog den væsentlige indvending mod forslaget som helhed, at det vil medføre konkurrenceforvridninger mellem økonomiske aktører, som faktisk bør behandles på ensartet vis.
It therefore took no account of the specific nature of institutions which, although only limited in size or operating on a regional scale, played a vital role in financing their
Derimod vil et kreditinstitut, som opretter et datterselskab med henblik på gennemførelsen af sine værdipapirtransaktioner, med myndighedernes tilladelse kunne undgå det konsoliderede tilsyn, selv om man kun derigennem har mulighed for at behandle de to former for kreditinstitutter på lige fod.
As regards the limit of 25%, the Committee proposed the retention of the 40% limit laid down in the Recommendation of 22 December for both external and group exposure. This maximum limit would provide the authorities with greater discretionary powers, enabling them to take account of the particular set-ups in each of the Member States.
Det er klart, at der rejser sig et spørgsmål om loyal konkurrence mellem kreditinstitutter, der opererer på grundlag af to forskellige systemer: Der er på den ene side et system, som er sammensat dels af forretningsbanker, dels af vekselerfirmaer, børsmæglerselskaber osv., som er konsoliderede datterselskaber af kreditinstitutter (dette system er fremherskende på kontinentet); på den anden side er der systemet, hvor kommercielle banker og investeringsselskaber opererer særskilt, og hvor sidstnævnte kan være datterselskaber af kreditinstitutter, men er underkastet et særligt tilsyn og dermed ikke konsoliderede med moderselskabet.
As regards exposures incurred to a client or group of connected clients consisting of the parent undertaking of the credit institution and/or one or more subsidiaries of that parent undertaking (Article 4(2) of the proposal), there was no reason to reduce the percentage laid down in Article 4(1); on the contrary, a single threshold should be adopted for the two types of exposure.
Det er indlysende, at en fakultativ konsolidering, som giver ét af disse systemer mulighed for at unddrage sig tilsyn med dets investeringsselskaber på et konsolideret grundlag, giver anledning til konkurrenceforvridning i det omfang, hvor der for det ¡kke-konsoliderede datterselskab enten ikke findes tilsvarende regler — dette er tilfældet med kreditforretninger, som udføres af investeringsselskaber — eller hvor reglerne er mindre strenge — hvilket også forekommer, idet det foreslåede direktiv om kravene til investeringsselskabers og kreditinstitutters kapitalgrundlag (»CAD«) indeholder en lempeligere ordning.
As regards the date of application of the directive, the Committee considered that, if the 25% figure was retained, there should no longer be any reference to the date of the directive's publication; a general deadline for compliance of five years from 1 January 1993 should be laid down, with the possibility of exemptions for loans maturing after this date.
Efter ØSU's mening er obligatorisk konsolidering af investeringsselskaber i en bankkoncern desuden påkrævet af to andre årsager end de allerede fremførte, nemlig:
In general the Committee felt that it was difficult to underestimate, from a purely economic point of view, the dampening effect on the initiative, indeed the dynamism, of a profession whose vocation was, by definition, to finance economic development and business investment by taking risks.
— Det er i stigende grad tvivlsomt, om der bør skelnes mellem kreditin stitutter og investeringsselskaber.
It was feared that the banking sector would be subject to such constraints that its dynamism at European level would be seriously affected.
Det vil derfor være hensigtsmæssigt at opgive den virksomhedsorienterede indfaldsvinkel, hvor der fastsættes bestemmelser afhængigt af virksomhedstypen, og i stedet anvende en aktivitetsorienteret indfaldsvinkel, hvor der fastsættes bestemmelser afhængigt af de udøvede aktiviteter.
One could also wonder about the question of 'large exposures', for experience had shown—especially in the USA—that the really large exposures were those involving a whole sector suffering from recession— such as the building industry—rather than a massive commitment to one or a few borrowers.
Samme aktiviteter indebærer samme risiko, uafhængigt af den udøvende virksomhed, og derfor bør den være underkastet ensar-
The Committee would like to see consultations with the Commission directorates responsible for economic and financial affairs, particularly
CAD anvender ikke fuldt ud en aktivitetsorienteret indfaldsvinkel.
The aim of the Commission proposal was twofold:
Desuden er CAD endnu ikke vedtaget; ændringer, som stiller kreditinstitutterne endnu dårligere, kan derfor ikke udelukkes.
(i) to facilitate, indeed enable, the transformation of some Danish mort­gage credit institutions into public limited companies;
Konsolideringen er således det eneste middel til at undgå en konkurrenceforvridning mellem kreditinstitutter, der selv udfører værdipapirtransaktioner, og kreditinstitutter, der opererer gennem et datterselskab.
(ii) to set up a regulatory committee (under the procedural rules contained in Article 2, Procedure III, variant (a), of the Council Decision of 13 July 1987 laying down the procedures for the exercise of implementing powers conferred on the Commission) to assist the Commission with technical amendments to the Directive on own funds of credit institu­tions.
— Gennem konsolidering bliver det muligt at lade kreditforretninger i tilknytning til værdipapirtransaktioner (f.eks Lombardian, andre lån mod sikkerhed i værdipapirer, marginal finansiering) underkaste direktivet om solvensnøgletal (»SRD«).
The Committee endorsed the Commission proposal's first objective in view of its limited, temporary and diminishing nature.
Investeringsselskaber udfører sådanne kreditforretninger i betydeligt omfang.
It had reservations as to the proposed changes to the 'committee procedure' introduced under Article 8 of Directive 89/299/EEC.
For så vidt det beløb, disse lån andrager, ikke fratrækkes i egenkapitalen som illikvide aktiver, bør risiciene behandles på samme måde som for kreditinstitut ternes vedkommende.
It was regrettable that the Commission was taking advantage of certain decisiontaking delays by the Council to assume powers not conferred on it by the Treaty.
I henhold til SRD er kreditinstitutterne generelt underlagt et egenkapitalkrav på 8%.
The Committee therefore saw no reason to waive the procedure (i.e. Procedure III, variant (b), of Council Decision 87/373/EEC) adopted by the Council in the Second Banking Coordination Directive (89/646/EEC) and the Solvency Ratio Directive (89/647/EEC).
Imidlertid er komitéens rapport — uden at det siges udtrykkeligt— henvendt til store kreditinstitutter med international virksomhed.
The Committee approved the proposed Directive intended to achieve completion of the internal market in the direct non-life insurance sector.
Direktivets gennem førelse vil derfor volde denne kategori af institutter tilpasningsproblemer, som i yderste konsekvens kan bringe deres eksistens i fare, hvis tilsynsmyndighederne ikke har mulighed for at fastsætte undtagelser og for længe tilpasningsfristen.
It consisted of a series of proposals designed to apply the principle of home-country control to all direct non-life insurance business, to be governed by a single set of legal arrangements.
ØSU henleder også Kommissionens opmærksomhed på den risiko for konkurrenceforvridning mellem kreditinstitutter i EF og tredjelande, som direktivets vedtagelse vil afstedkomme.
In the Committee's view, this third Directive would allow consumers and economic operators access under proper conditions to a genuine single insurance market.
Når der er tale om engagementer, som et kreditinstitut påtager sig i forbindelse med en kunde eller en gruppe af indbyrdes forbundne kunder, der er kreditinstituttets moderselskab og/eller en eller flere af dette moderselskabs datterselskaber (art. 4, stk. 2, i direktivforslaget), er der ingen grund til at nedsætte procentsatsen i art. 4, stk. 1, men man bør tværtimod operere med én enkelt tærskel for begge engagementer.
In the Committee's view, to retain the principle that the law of the policy-holder's home Member State should apply would generate a degree of legal uncertainty prejudicial to consumers and scarcely reconcilable with the concept of the single market.
Med hensyn til datoen for direktivets ikrafttrædelse mener ØSU, at man, forudsat at 25%-reglen bibeholdes, bør undlade enhver henvisning til datoen for direktivets offentliggørelse og fastsætte en generel frist på fem år fra den 1. januar 1993 med mulighed for dispensation for lån med en løbetid, der overstiger denne frist.
The dropping of the requirement for prior approval of policy conditions and premiums and its replacement with a notification system was a logical extension of the single authorization, and to be welcomed.
Rent økonomisk er det imidlertid efter ØSU's mening vanskeligt at undervurdere, i hvor høj grad man herved bremser initiativlysten og dynamikken inden for et erhverv, hvis opgave det er at finansiere virksomhedernes økonomiske udvikling og investeringer, ¡det pengeinstitutterne pr. definition påtager sig risici.
The extension of the supervisory powers of the authorities of a Member State to branches established in other Member States posed the problem of parallel systems of supervision within the same market.
Det befrygtes, at banksektoren vil blive udsat for begrænsninger i et sådant omfang, at det i høj grad vil gå ud over dens dynamik på europæisk plan.
Differences in supervisory practices from one Member State to another could cause distortions of competition, so such practices should be reviewed with a view to subsequent harmonization.
Man kan ligeledes sætte spørgsmålstegn ved det rimelige i overhovedet at fremsætte forslag om »store engagementer«, thi det fremgår af erfaringerne fra især USA, at de virkeligt store risici er dem, som en hel kriseramt erhvervssektor — som f.eks. byggeriet — har påtaget sig, og ikke de risici, som knytter sig til dette eller hint store engagement med en eller flere låntagere.
The Commission proposal's aim was to set up—by virtue of the executive powers conferred on the Commission by the Council in respect of rules established by the latter—an Insurance Committee to assist the Commission in the field of insurance (both life and non-life).
ØSU ser gerne, at der etableres et samråd med de af EF-Kommissionens direktorater, som beskæftiger sig med økonomiske og finansielle anliggender, herunder især GD II, som står for den økonomiske vurdering af EF-politikkerne, således at der med udgangspunkt i en række udvalgte kreditinstitutter i EF foretages undersøgelser af konsekvenserne for pengeinstitutterne af samtlige de direktiver om forsigtighedsbestemmelser, som er forelagt ØSU, herunder naturligvis også det forslag, som behandles i denne udtalelse.
The Committee Opinion advocated closer cooperation between the Commission and the various national supervisory authorities in order to facilitate the completion of a single insurance market, but wondered what form such cooperation should take.
Kommissionens forslag har følgende to formål:
The draft Directive would create a regulatory committee with multiple objectives.
— dels at lette eller muliggøre nogle få danske realkreditinstitutters omdannelse til aktieselskaber
In the light of the measures specified in the Council Decision of 13 July 1987, the Committee considered that the Commission's executive powers, tantamount to regulatory powers, could only be exercised under Pro cedure III, variant (b), and not variant (a).
— dels at nedsætte et udvalg, ifølge proceduren i artikel 2, procedure III, variant a), i Rådets afgørelse 87/373/EØF af 13. juli 1987 om fastsættelse af de nærmere vilkår for udøvelsen af de gennemførelsesbeføjelser, der tillægges Kommissionen, som skal bistå Kommissionen med at gennemføre tekniske ændringer i direktivet om kreditinstitutters egenkapital.
More generally, in view of the role which the future Insurance Committee would be required to play in the field of secondary legislation, the Committee was uncertain about what role the advisory bodies provided for in the Treaty of Rome would play in the Community decisionmaking process.
ØSU godkender det første sigte med Kommissionens forslag, da foran staltningen er af begrænset, degressiv og midlertidig karakter.
The Committee reiterated that, when the Directives were being implemented, the social categories represented on it must generally also be able to submit proposals to the Commission departments.
ØSU ser derfor ingen grund til at afvige fra den procedure (dvs. procedure III, variant b), som Rådet har vedtaget i det andet direktiv om koordinering af banklovgivningen (89/646/EØF) og i direktivet om solvensnøgletal (89/647/EØF).
It would be unacceptable if, as part of the executive powers delegated to it by the Council, the Commission were to be given effective regulatory power without the European Parliament and the Economic and Social Committee being formally involved.
ØSU bifalder Kommissionens forslag, som tager sigte på fuld gennem førelse af det indre marked inden for livsforsikringsvirksomhed bortset fra livsforsikring.
But while it agrees with the Commission's proposal the Committee has certain reservations about the following points:
ØSU mener, at tredje direktiv vil sikre forbrugerne og de økonomiske aktører adgang til et virkeligt indre marked på forsikringsområdet på gode betingelser.
Generally speaking, the Commission considers that consumers' interests are best served, among other things, by setting up a market free of all constraints, where maximum competition provides the best guarantee for customers.
ØSU fremsætter følgende bemærkninger til de forskellige punkter i Kommissionens forslag:
The Committee feels that the proposed third directive should provide greater protection for holders of personal insurance policies, which are different from other types of operations such as simple savings schemes.
Man giver den medlemsstat, hvor der skal præsteres tjenesteydelser, mulighed for under henvisning til samfundsmæssige hensyn at forhindre indgåelse af en kontrakt, der er i overensstemmelse med hjemlandets lovgivning. Denne begrundelse er efter ØSU's mening alt for vag og kan
As life assurance policies may run for very long periods and provide protection against calamities of a social nature (death, invalidity, incapacity), they must be given proper treatment enabling them to provide effective protection for policy-holders.
give anledning til divergerende udlægninger, som kan være en hæmsko for gennemførelsen af det indre forsikringsmarked.
It is for this reason that the Committee also urges that special attention should be given to the need for such contracts to be clear.
Hvad angår opretholdelsen af princippet om at anvende den lovgivning, der er gældende i forsikringstagerens hjemland, mener ØSU, at en sådan situation skaber en vis retsusikkerhed, som er til skade for forbrugerne, og som vanskeligt kan forenes med idégrundlaget bag enhedsmarkedet.
The Committee notes that the insurance market—especially the life assurance sector—is undergoing radical change as characterized, among other things, by trends towards concentration, the emergence of new forms of cooperation between banks and insurance firms and the growing interest of non-EC firms in the European market.