natgillin/translations-raw huggingface dataset:
Net lending including guarantees to the Real Estate sector shall not account for more than 25 % of the total net lending (loans to clients) including guarantees at any given time.
Komisjon võib omal algatusel või usaldusisiku, Taani või panga nõudmisel anda usaldusisikule mis tahes korraldusi või juhiseid, et tagada kohustustele vastavus.
Net lending measured as average net lending per year to agriculture, hunting, forestry and fishing shall on 31 December of any given year not exceed its share in total net lending as on 31 December 2016 (i.e. 20 % of total loans to clients as defined above) if and to the extent such excess net lending is the result of lending to new customers or an increase of such lending to existing customers.
Pangal ja Taanil ei ole õigust anda usaldusisikule juhiseid.
Vestjysk shall not provide new lending to clients outside the Core Region, unless the customer provides own financing of at least [35-45] % and the loan is collateralised.
Järelevalve eest vastutav usaldusisik:
Vestjysk shall not provide new lending relating to assets outside Denmark.
teeb komisjonile ettepaneku üksikasjaliku töökava kohta, milles kirjeldatakse seda, kuidas ta kavatseb jälgida kohustusele vastavust.
Large exposures:
Aruanne tuleks esitada hiljemalt 31. detsembriks 2017;
Vestjysk may not take on any credit risk exposures with new customers, where any such exposure on its own constitutes more than 10 % of the total capital at the given time.
jälgib kohustustele vastavust kvartaliaruannetes;
BEHAVIOURAL MEASURES AND CORPORATE GOVERNANCE
teeb ettepanekuid selliste meetmete kohta, nagu järelevalve eest vastutav usaldusisik vajalikuks peab, et tagada Taani ja panga vastavus kohustustele.
Ban on acquisitions: Vestjysk shall not acquire any stake in any undertaking, be it an asset or share transfer.
Taani ja panga ülesanded ja kohustused
That ban on acquisitions covers both undertakings which have the legal form of a company and any package of assets which forms a business.
Pank pakub ja laseb oma nõustajatel pakkuda järelevalve eest vastutavale usaldusisikule igasugust sellist koostööd, abi, juhtimis- ja haldustuge ja teavet, mida järelevalve eest vastutav usaldusisik võib oma ülesannete täitmiseks põhjendatult nõuda.
Exemption: Vestjysk may acquire stakes in undertakings provided that:
Usaldusisiku asendamine, vastutusest vabastamine ja uuesti ametisse nimetamine
The purchase price paid by Vestjysk for any acquisition is less than 0,01 % of the balance sheet size [2] of Vestjysk at the Effective Date [3]; and
Kui usaldusisik lakkab täitmast oma ülesandeid kohustuste raames või muul olulisel põhjusel, kaasa arvatud usaldusisiku puhul huvide konflikti tekkimise korral:
The cumulative purchase prices paid by Vestjysk for all such acquisitions starting with the Effective Date until the end of the Restructuring Period, is less than 0,025 % of the balance sheet size of Vestjysk at the Effective Date.
võib komisjon pärast järelevalve eest vastutava usaldusisiku ärakuulamist lasta Taanil usaldusisik asendada või
The acquisition directly follows from previously existing (before this Decision) contractual obligations assumed with third parties or regulatory related obligations, or is required by a final and mandatory decision taken by a public authority on Vestjysk
võib Taani komisjoni eelneval heakskiidul usaldusisiku asendada.
Activities not falling under the acquisition ban: The acquisition ban shall not cover acquisitions (i) that take place in the ordinary course of the banking business in the management of existing claims towards ailing firms, including the conversion of existing debt to equity instruments, or (ii) as part of ordinary treasury activities.
Kui usaldusisik tagasi kutsutakse, võidakse usaldusisikult nõuda, et ta jätkaks oma ülesannete täitmist, kuni ametisse on määratud uus usaldusisik, kellele usaldusisik on kogu asjaomase teabe täielikult üle andnud.
Advertising: Vestjysk must not use the granting of the aid measures or any advantages arising therefrom for advertising purposes.
Uus järelevalve eest vastutav usaldusisik nimetatakse ametisse kooskõlas punktides 11.4–11.7 osutatud menetlusega.
RESTRUCTURING VESTJYSK BANK'S RISK MANAGEMENT
Lisaks tagasikutsumisele lõpetab usaldusisik tegutsemise usaldusisikuna ainult siis, kui komisjon on vabastanud ta kõikidest ülesannetest pärast seda, kui on täidetud kõik usaldusisikule pandud kohustused.
The Bank will further improve and centralise the risk management for its major customers by creating a centralised business banking department.
Komisjon võib siiski igal ajal nõuda usaldusisiku uuesti ametisse nimetamist, kui hiljem selgub, et asjaomaseid meetmeid ei rakendatud täielikult ja nõuetekohaselt.
The total recurrent operating (staff expenses, branches, administrative and other operational costs) and amortisation costs of Vestjysk shall not exceed DKK [435-475] million in 2017, DKK [420-460] million in 2018 and DKK [405-445] million in 2019 (if applicable) (such figures to be increased by any amount resulting from additional requirements imposed on Vestjysk under applicable law or regulation including without limitation payroll tax (in Danish: lønsumsafgift)).
Nõukogu 13. juuli 2015. aasta määrus (EL) 2015/1589, millega kehtestatakse üksikasjalikud eeskirjad Euroopa Liidu toimimise lepingu artikli 108 kohaldamiseks (ELT L 248, 24.9.2015, lk 9).
REPAYMENT OF THE STATE
Selgituseks, selle kohustuse puhul võrdub bilansimaht Vestjysk Banki koguvaradega.
Vestjysk shall completely redeem its State Hybrids at par together with any accrued interests in accordance with applicable law and regulation, within 6 months of the Effective Day.
Selgituseks, kui saadakse komisjoni nõusolek omandamiskeelu tühistamiseks, siis arvutatakse Vestjysk Banki bilansimahu sisse kohustuste jõustumiskuupäeval ka omandatud üksuse varad või omandamise kuupäeval omandatud varad.
COMMITMENTS ON CREDIT AND PRICING POLICIES
Selle tagajärjel maksis pank Taanile samaväärse summa, seega tasaarveldades võimaliku ebakohase koormuse jagamise, mille see suhteliselt väike summa võis põhjustada.
Vestjysk will:
Summa maksti täielikult 2014. aasta alguses.
In 2017, 2018 and 2019 (if applicable) present a report in the form enclosed to this Decision to the Monitoring Trustee showing a distribution of the pre-tax ROE of the Bank's business clients (which include all SMEs) and, for consumer clients, average gross earnings with credit quality grades as set out in section 8.1.6.
Ümberkorralduskava arutelud jäeti selle protsessi ajal ootele, sest selle kava sisu puhul oleks tulnud võtta arvesse plaane, mis panga võimalikul ostjal oleks olnud.
In 2018 and if applicable in 2019, prepare a strategy demonstrating how the profitability of the Bank's client relationships will be increased.
Seoses sellega tuleb märkida, et Taani kaalus panga müümist kas teisele pangale (kes võiks lõimida panga tegevuse oma tegevusse) või finantsinvestorile (kes võiks hoida panka eraldiseisva üksusena).
This strategy must be sufficiently detailed, clarifying among others the targeted customer segments, proposed income-increasing measures (including the possibility to terminate unsatisfactory client-relationships).
Ümberkorralduskava pidi seega sõltuma ka ostja liigist.
In 2018, price every new loan (considering as new loan any new business not related to an existing transaction) by using an appropriate internal pricing tool or in the case of consumer client exposures using appropriate internal pricing guidelines and a centralised demonstration that pricing guidelines support a gross average earnings per customer of at least DKK [2800 — 3300] based on a standardised model family.
UUS ÜMBERKORRALDUSKAVA – TAANI PANGA NYKREDITI KOORDINEERITUD INVESTORITE KONSORTSIUMI POOLT VESTJYSK BANKI OSTMINE JA REKAPITALISEERIMINE
Pricing for new loans to business clients will be considered adequate if the new loan contributes to achieve a positive RoE at client level of at least [8-12] % pre-tax in 2018.
Ligikaudu 150 miljoni Taani krooni (ligikaudu 20 miljonit eurot) ulatuses täiendavate esimese taseme omavahendite ja 225 miljonit Taani krooni (ligikaudu 30 miljonit eurot) ulatuses teise taseme omavahendite emiteerimine.
From 2019 onwards (if applicable) ensure that, to the extent legally possible, every client relationship (and not just new loans) shall be priced in accordance with clause 8.1.3 above.
Olemasolevate esimese taseme omavahendite lisasumma 75 miljonit Taani krooni (ligikaudu 10 miljonit eurot) jääb samaks.
A failure to demonstrate a positive RoE at client level of at least [8-12] % pre-tax for individual business client relationships exceeding an exposure of DKK [2,2-2,7] million at the moment of pricing will lead to an escalation of the credit files to the Management Board for formal approval by a reasoned decision.
[80–130]
If the total amount of exceptions for all business client relationships, regardless of their size, that do not meet the mentioned hurdle rate exceeds [2-3] % of the Bank's audited net loan exposure (at the end of the previous financial year) within the financial year, Vestjysk shall, to the extent legally possible, (i), in relation to business clients, ensure a reduction of the amount of net loan exposure to business clients that does not meet the mentioned hurdle rate by [18-25] % compared to the previous financial year and (ii), in relation to consumer clients, ensure an increase in average gross earnings of [4-8] % from the current level of DKK [2800-3300] to the minimum level of DKK [2800-3300].
[70–120]
For the purpose of these calculations for business clients, new loans will have a credit documentation demonstrating a pre-deal calculated RoE at client level for either the individual loan or other live exposure on single client including fee business or banking transactions.
[60–110]
The above-mentioned new loans shall have a credit documentation demonstrating this pre-deal calculated RoE at client-level at the moment of the credit decision and for any financial year thereafter.
[900–1000]
Credit deals not falling under this pricing policy regime: restructuring cases (credit quality (in Danish: udlånsbonitet) grade of 1 and 2c pursuant to the DFSA's general customer classification system) for which a restructuring or recovery plan (in Danish: kredithandlingsplan) has been prepared and all money market transactions.
[260–300]
ADJUSTMENT MECHANISM
[250–290]
If the targets mentioned in section 4.3 in a given year are not achieved due to contingencies outside of the bank's control and if the difference between the actual results and the targets exceeds 7 %, Denmark shall present to the Commission a proposal containing a justification and remedy measures to ensure future compliance with the targets or an adequate compensation, or proposing alternative actions aimed at achieving the same purpose of the initial targets that were not met.
[240–280]
REPORTING
[150–300]
Denmark shall ensure that the full and correct implementation of the Restructuring Plan and the full and correct implementation of all Commitments within this Term Sheet are continuously monitored.
[145–295]
A Monitoring Trustee shall report semi-annually to the Commission on the evolution of the restructuring plan and the above mentioned commitments until the end of the Restructuring Period.
[140–290]
The reference dates for the semi-annual Reporting are the 31 of December and the 30 of June.
[200–300]
The Semi-annual Reporting shall be forwarded within 2 months from the reporting dates each year during the Restructuring Period.
[150–220]
The final report for reference date 31 December 2019 (if applicable) shall cover the entire year 2019.
[220–290]
MONITORING TRUSTEE
[270–340]
Denmark shall appoint a Monitoring Trustee whose mandate is to report to the Commission on compliance by Denmark and by the Bank with the Commitments.
[7–11]
The Monitoring Trustee shall be independent of the Bank and shall possess the necessary qualifications to carry out its mandate, for example as an investment bank or consultant or auditor, and shall not be subject to a conflict of interests throughout the exercise of his mandate.
[45–55]
The Trustee shall be remunerated by the Bank in a way that does not impede the independent and effective fulfilment of the Trustee's mandate.
[40–50]
Appointment Of The Monitoring Trustee
[375–425]
No later than four weeks after the Effective Date, Denmark shall submit to the Commission for approval a list of two or more persons whom Denmark proposes to appoint as the Monitoring Trustee, with an indication of Denmark's preferred choice.
[340–390]
The proposal shall contain sufficient information for the Commission to verify that the proposed Trustee fulfils the requirements set out above and shall include:
Ametlik pakkumise dokument, milles kirjeldatakse üksikasjalikumalt pakkumise igat elementi, ning ajakava esitati kõikidele panga aktsionäridele 19. juunil 2017.
The full terms of the proposed mandate, which shall include all provisions necessary to enable the Trustee to fulfil its duties under these Commitments;
Aktsiaemissioon ja täiendavate esimese taseme omavahendite refinantseerimine peaks lõpule jõudma 2017. aasta sügisel.
The outline of a work plan which describes how the Monitoring Trustee intends to carry out its assigned tasks.
Taani ei ole esitanud ametliku uurimise käigus uusi argumente, mida ta ei olnud 2012. aastal juba esitanud.
The Commission shall have the discretion to approve or reject the proposed Trustees and to approve the proposed mandate subject to any modifications it deems necessary for the Trustee to fulfil its obligations.
Komisjoni hinnang ja päästmisotsuses tehtud järeldus, et 1., 3. ja 4. meede kujutasid endast riigiabi (nagu on kirjeldatud päästmisotsuse põhjenduses 19) aluslepingu artikli 107 lõike 1 tähenduses, jäävad seega muutmata.
If only one name is approved, Denmark shall appoint or cause to be appointed, the individual or institution concerned as Trustee, in accordance with the mandate approved by the Commission.
Protsess viidi ellu 2016. aasta teises ja kolmandas kvartalis.
If more than one name is approved, Denmark shall be free to choose the Trustee to be appointed from among the names approved.
Lõpuks ei teinud ükski ostja, kellega ühendust võeti, [19] pakkumust tingituna eeldatavatest täiendavatest märkimisväärsetest mahakandmistest.
The Trustee shall be appointed within one week of the Commission's approval, in accordance with the mandate approved by the Commission.
Seda järeldust kinnitab ka alternatiivse ettepaneku hinnang (vt ka põhjendus 52), mida […] 2016. aasta veebruaris mitteametlikult katsetas.
If all the proposed Trustees are rejected, Denmark shall submit the names of at least two more individuals or institutions within one week of being informed of the rejection.
See investor kaalus esialgu Vestjyski kontrollpaki omandamist, ostes äsja emiteeritud aktsiaid hinnaga üks Taani kroon aktsia kohta, ning kinnitas seda ettepanekut 2016. aasta septembris [22].
If all further proposed Trustees are rejected by the Commission, the Commission shall nominate a Trustee, whom Denmark shall appoint, or cause to be appointed, in accordance with a trustee mandate approved by the Commission.
Taani on samuti esitanud õiglust käsitleva arvamuse, mille koostas tema taotluse alusel sõltumatu ekspert.
Duties and obligations of the Monitoring Trustee
Arvamuses õigluse kohta tehakse järeldus, et pakkumuse hind üks Taani kroon aktsia kohta on sel hetkel parim võimalik turuhind, mida on võimalik saada.
The Trustee shall assume its specified duties in order to ensure compliance with the Commitments.
Seega on igal isikul, kes soovib panka investeerida kõrgema hinnaga, võimalus seda teha.
The Commission may, on its own initiative or at the request of the Trustee or Denmark or the Bank, give any orders or instructions to the Trustee in order to ensure compliance with the Commitments.
Õigusaktis, mis võimaldab rahandusministeeriumil sõlmida konsortsiumile müügi tehing, märgitakse võimalust teha konkureerivaid pakkumusi atraktiivse pakkumusega pakkumusperioodi jooksul, ning see võimalus oli samuti avalikult teada [24].
The Bank and Denmark are not entitled to give instructions to the Trustee.
Meetmetest teatati 13. aprillil 2012.
The Monitoring Trustee shall:
Seega tuleks neid meetmeid hinnata, pidades silmas uut ümberkorralduskava, võttes arvesse ümberkorraldamisteatist, 2008. aasta pangandusteatist ning 2010. ja 2011. aasta pikendamise teatisi.
Propose to the Commission a detailed work plan describing how it intends to monitor compliance with the Commitments.
[18–22]
The report should be delivered by 31 December 2017 at the latest;
[10–20]
Monitor the compliance with the Commitments with quarterly reports;
[30–40]
Propose such measures as the Monitoring Trustee considers necessary to ensure Denmark's and the Bank's compliance with the Commitments;
+ [0–7,5]
Duties and obligations of Denmark and the Bank
[2,5–10]
The Bank shall provide and shall cause its advisors to provide the Monitoring Trustee with all such cooperation, assistance, managerial, administrative support and information as the Monitoring Trustee may reasonably require to perform its tasks.
[5–12,5]
Replacement, discharge and reappointment of the Trustee
Panga bilansimaht on viimasel viiel aastal vähenenud, kahanedes 39,5 % 32865 miljonilt Taani kroonilt 2012. aasta lõpus 19895 miljoni Taani kroonini 2016. aasta lõpus.
If the Trustee ceases to perform its functions under the Commitments or for any other good cause, including the exposure of the Trustee to a conflict of interest:
Sama suundumust võib täheldada panga laenuportfellis: brutolaenumaht vähenes ligikaudu 36 % samal ajavahemikul; brutolaenumaht põllumajandusele vähenes ligikaudu 26 %, samal ajal kui brutolaenumaht ehitus- ja kinnisvarasektoritele vähenes vastavalt 48 % ja 44 %.
The Commission may, after hearing the Monitoring Trustee, request Denmark to replace the Trustee; or
Nagu on selgitatud põhjendustes 68–70 ja kokkuvõtlikult tabelis 2, on pank teinud olulisi lisajõupingutusi (võrreldes sellega, mis oli menetluse algatamise otsuse ajal kavandatud), et veelgi vähendada oma ärilist jalajälge, olles väike kohalik osaline, ja suurendada oma tõhusust.
Denmark, with the prior approval of the Commission, may replace the Trustee.
Sel viisil piiratakse konkurentsimoonutuste riski piisavalt kuni 2017. aasta lõpuni.
If the Trustee is removed, the Trustee may be required to continue in its function until a new Trustee is in place to whom the Trustee has effected a full hand over of all relevant information.
Sellegipoolest on Taani poolt võetud kohustuse kaudu pank võtnud ka olulisi lisameetmeid konkurentsimoonutuste piiramiseks ülejäänud ümberkorraldusperioodi jooksul, mis lõppeb hiljemalt 2019. aasta lõpus.
The new Monitoring Trustee shall be appointed in accordance with the procedure referred in clauses 11.4-11.7.
Sel põhjusel leiab komisjon, et menetluse algatamise otsuses esitatud kahtlused konkurentsi moonutamise kohta, on piisavalt hajutatud.
Besides the removal, the Trustee shall cease to act only after the Commission has discharged it from its duties after all the Commitments with which the Trustee has been entrusted have been implemented.
Eelkõige on pank vähendanud oma filiaalide arvu 24 filiaalilt 2012. aastal üksnes 15ni 2016. aasta lõpus.
However, the Commission may at any time require the reappointment of the Trustee if it subsequently appears that the relevant remedies might not have been fully and properly implemented.
Menetluse algatamise otsuse ajal oli pank kavatsenud vähendada filiaalide arvu üksnes [18–22ni].
Council Regulation (EU) 2015/1589 of 13 July 2015 laying down detailed rules for the application of Article 108 of the Treaty on the Functioning of the European Union (OJ L 248, 24.9.2015, p.
Need märkimisväärsed täiendavad kulude vähendamise meetmed kajastuvad panga kulude ja tulude suhtarvus, mis on langenud 55,3 %-lt 2012. aastal 50,3 %-le 2016. aastal.
9).
Eeldatakse, et see suhtarv väheneb veelgi: 2017. aasta lõpuks [45–55] %ni ja 2018. aasta lõpuks koguni [40–50] %ni.
For clarification, for the purpose of that Commitment, the size of the balance sheet is equal to Vestjysk Bank's total assets.
Seega on selge, et pank on teinud olulisi täiendavaid kulude vähendamise jõupingutusi võrreldes menetluse algatamise otsuse ajal kavandatuga.
For clarification, in case the Commission's approval to lift the acquisition ban is obtained, the balance sheet of Vestjysk Bank at the Effective Date of the Commitments shall be calculated to include also the assets of the acquired entities or the acquired assets at the date of acquisition.
Need lisajõupingutused aitavad suurendada panga kasumlikkust ja seega tema elujõulisust.
As a consequence the Bank paid an equivalent amount to Denmark thus offsetting any inadequate burden sharing this relatively small amount might have caused.
Teatavad tegevuskulude eesmärgid, mis on kohustustes sätestatud, aitavad tagada, et pank rakendab ülejäänud kulude vähendamisi, nagu on kavandatud, et tagada oma elujõulisus.
The amount was paid in full at the beginning of 2014.
Pank kavatseb veelgi vähendada ka oma intressikulusid (mis on juba vähenenud 727 miljonilt Taani kroonilt 2012. aastal 185 miljoni Taani kroonini 2016. aastal) [35–50] % 2017. aasta lõpuks ja koguni [45–60] % 2018. aasta lõpuks.
The discussions on the restructuring plan were put on hold during that process since the content of such plan would have to take into account the plans a potential buyer of the Bank might have.
Pank saab lisaks lihtsasti alandada ka oma hoiuste intressimäära, vähendamata oma rahastamist, sest tal on märkimisväärne hoiuste ülejääk [29].
In this respect, it must be noted that Denmark considered selling the Bank either to another bank (which would possibly integrate it in its own operations) or to a financial investor (which would possibly keep it as a standalone entity).
Hoolimata hoiuseintresside märkimisväärsest vähenemisest ei kavanda pank oma hoiuste ülejäägi märkimisväärset vähendamist, sest hoiuste vähendamine on eelduste kohaselt väiksem kui laenuportfelli vähendamine.
The restructuring plan was hence also to be dependent on the type of buyer.
Pank eeldab praegu, et tema laenukahjumite eraldised vähenevad 416 miljonilt Taani kroonilt 2016. aastal [200–300] miljoni Taani kroonini 2017. aastal ja [200–300] miljoni Taani kroonini 2018. aastal.
THE NEW RESTRUCTURING PLAN — A CONSORTIUM OF INVESTORS COORDINATED BY DANISH BANK NYKREDIT TO ACQUIRE AND RECAPITALISE VESTJYSK BANK
Peamine põhjus eelarvekohase eraldise summa vähenemises on panga ootus, et tema põllumajandusportfell, mis moodustas suurima osa väärtuse langusest viimastel aastatel, [30] toimib paremini.
The issue of approximately DKK 150 million (approximately EUR 20 million) in Additional Tier 1 capital and of DKK 225 million (approximately EUR 30 million) in Tier 2 capital.
Komisjoni enda prognoosid [31] näitavad, et põllumajandussaaduste hinnad on tõepoolest pärast 2015.–2016. aasta langust taastunud, aga jäävad pärast 2017. aastat enam-vähem samaks.
An additional DKK 75 million (approximately EUR 10 million) of existing Additional Tier 1 capital will remain in place.
Pank eeldab ka kinnisvarasektori väärtuse languse väikest vähenemist, samal ajal kui teistes sektorites on eeldada väikest tõusu.
[80-130]
Selles analüüsis on laenukahjumite eraldised kehtestatud 20 % kõrgemana kui vastavad eelarvelised summad aastateks 2017 ja 2018.
[70-120]
Läbivaadatud eelduse alusel väheneb panga omakapitali investeeringute tootlus 2017. aastal [0–5] % ja 2018. aastal [0–5] %, aga jääb sellisele kasumlikkuse tasemele, kus pank peaks olema võimeline hankima vajaduse korral lisakapitali turuallikatest.
[60-110]
Taani finantsinspektsiooni stsenaarium eeldab muu hulgas väiksemat intressitulu, suuremat amortisatsiooni ja kokku [400–600] miljoni Taani krooni suurust täiendavat väärtuse langust võrreldes sellega, mida nähti ette aastatel 2018 ja 2019.
[900-1000]
Ehkki pank satuks nendel kahel aastal kahjumisse, püsiks tema maksevõime suhtarv kindlalt ülalpool regulatiivseid nõudeid.
[260-300]
Sel viisil suurendab pank oma tulusid, kui tema omakapitali investeeringute tootlus ei ole jõudnud 2018. aastal eesmärgini [7–11] %.