natgillin/translations-raw huggingface dataset:
The Commission noted that it would wish to ensure that the quality of the Bank's management and in particular its lending process should not deteriorate in either case.
Prevedené pasíva (teda vklady) nemožno považovať za príjemcu štátnej podpory, pretože nepredstavujú podnik.
Regarding the necessity of the first bridge recapitalisation, in recital 67 of the NBG Opening Decision the Commission questioned whether all the measures possible had been taken to avoid the Bank again needing aid in the future.
V krátkosti možno zhrnúť, že tri právnické subjekty vstúpili do likvidácie a už nevykonávajú žiadne bankové činnosti.
Moreover, since the duration of the bridge recapitalisation period was uncertain the Commission could not reach a conclusion as to whether the remuneration was sufficient and complied with the remuneration and burden-sharing principles under State aid rules.
Prevedené pasíva zároveň nepredstavujú hospodársku činnosť.
Furthermore, as the terms of the conversion of the first bridge recapitalisation into a permanent recapitalisation were not known at the time the NBG Opening Decision was adopted, the Commission could not assess them.
Preto sa dospelo k záveru, že poskytnutie obligácií ENFS banke zo strany HFSF na pokrytie likvidnej medzery nadobudnutých aktív a pasív troch družstevných bánk neumožňuje ďalšie vykonávanie ich hospodárskych činností.
Regarding the proportionality of the measure, the Commission expressed doubts as to whether the safeguards (State support advertisement ban, coupon and dividend ban, call option ban and buy-back ban as described in recital 71 of the NBG Opening Decision) were sufficient in relation to the first bridge recapitalisation.
Podpora zo strany HFSF preto nepredstavuje ani pomoc subjektom v likvidácii, ani pomoc prevedeným aktívam a pasívam.
Furthermore, in recital 72 of the NBG Opening Decision the Commission stated that distortions of competition could be caused by the lack of rules preventing the HFSF from coordinating the four largest Greek banks (namely, the Bank, Alpha Bank, Eurobank and Piraeus Bank) and the absence of adequate safeguards to avoid them sharing commercially sensitive information.
existencia pomoci banke
The Commission, therefore, proposed the appointment of a monitoring trustee, who would be physically present in the Bank.
Pokiaľ ide o to, či predaj aktív a pasív troch družstevných bánk zahŕňa štátnu pomoc banke, Komisia musí posúdiť, či sú splnené určité požiadavky a konkrétne či i) proces predaja prebiehal otvorene, bezpodmienečne a nediskriminačne; ii) sa predaj uskutočnil za trhových podmienok a iii) štát maximalizoval predajnú cenu dotknutých aktív a pasív [110].
COMMENTS FROM INTERESTED PARTIES ON THE FORMAL INVESTIGATION PROCEDURE ON THE FIRST BRIDGE RECAPITALISATION
Ako už bolo uvedené v odôvodnení 64, banka Bank of Greece sa obrátila len na päť najväčších gréckych úverových inštitúcií, ktoré v tom čase v Grécku pôsobili.
Comments from a Greek bank
Ani obmedzený počet oslovených kupujúcich neznamená, že výberové konanie nebolo otvorené, keďže to pravdepodobne boli jediné úverové inštitúcie, ktoré mohli mať záujem o predloženie ponuky.
On 3 January 2013, the Commission received comments from a Greek bank on the NBG Opening Decision.
Balík určený na predaj skutočne obsahoval iba vklady.
That Greek bank commented that the recapitalisation of Greek banks by the HFSF constituted, in principle, a welcome step towards a healthier and more viable banking system and expressed no objection to the recapitalisation of the Bank.
Aby tak bolo možné využiť synergie v rámci týchto vkladov, je potrebné pôsobiť v danej geografickej oblasti.
However, while expressing its entire support for the principle of the recapitalisation of Greek banks by the HFSF, that Greek bank explained that, in order to minimise distortions of competitions and to avoid discrimination, it expected recapitalisation by the HFSF to be open to all banks operating in Greece under similar conditions.
Banka, ktorá nie je v týchto oblastiach prítomná, nemôže poskytovať služby vkladateľom, a výnosy z vkladov by tak boli minimálne, pričom nadobúdateľ by z pokrytia nákladov za akvizíciu vkladov nemal žiadny prospech.
COMMENTS FROM GREECE ON THE FORMAL INVESTIGATION PROCEDURE ON THE FIRST BRIDGE RECAPITALISATION
Banka Bank of Greece by preto nemohla v rámci krátkeho času, ktorý mala k dispozícii na riešenie krízovej situácie troch družstevných bánk, odôvodnene predpokladať, že záujem o akvizíciu daných aktív by mali len úverové inštitúcie, ktorým ich obchodný model umožňuje poskytovať služby dotknutým vkladateľom.
On 5 September 2012, Greece submitted comments which had been prepared by the Bank of Greece and the HFSF.
Vzhľadom na protihodnotu a čas potrebný na vykonanie prevodu sa uprednostnila ponuka banky.
COMMENTS FROM THE BANK OF GREECE
Banka sa ponúkla, že ako protihodnotu zaplatí sumu vo výške […] % prevádzaných vkladov a odhadla, že prevod by sa mohol vykonať za jeden pracovný deň.
Regarding the appropriateness of the first bridge recapitalisation, the Bank of Greece noted that the amount of EUR 18 billion of capital with which the HFSF recapitalised the four largest Greek banks in May 2012 was less than the final amount which was needed in order for those banks to gradually reach and maintain a Core Tier 1 ratio set at 10 % and Core Tier 1 ratio set at 7 % under a three-year adverse stress scenario.
Na základe uvedeného Komisia dospela k záveru, že štátnu pomoc banke možno vylúčiť v súlade s bodom 20 oznámenia o reštrukturalizácii a rozhodovacou praxou Komisie [111].
It also noted that the first bridge recapitalisation was temporary given that the recapitalisation process would be concluded with share capital increases by those four banks.
záver o existencii pomoci
The Bank of Greece also observed that the recapitalisation of the largest Greek banks is part of the longer term restructuring of the Greek banking sector.
Štátna podpora poskytnutá v rámci predaja troch družstevných bánk nepredstavuje štátnu pomoc trom družstevným bankám, prevedeným aktívam alebo banke.
It noted that where a bank remains in private hands, the management will most probably remain the same, while if a bank becomes State-owned (that is to say, owned by the HFSF), the HFSF may appoint new management which, in any case, will be assessed by the Bank of Greece.
Toto opatrenie preto nepredstavuje pomoc v zmysle článku 107 ods. 1 zmluvy.
The Bank of Greece noted that it assesses the corporate governance framework, the adequacy of management and the risk profile of every bank on an ongoing basis in order to ensure that excessive risks are not taken.
POSÚDENIE POMOCI SÚVISIACEJ S BANKOU FIRST BUSINESS BANK
It also pointed out that the HFSF had already appointed representatives in the Board of Directors of the recapitalised banks.
Komisia musí posúdiť, či opatrenia predstavujú štátnu pomoc v zmysle článku 107 ods. 1 zmluvy.
Regarding the necessity of the first bridge recapitalisation, the Bank of Greece observed that the Bank's recapitalisation was limited so as to ensure that the then applicable minimum capital requirements (8 %) were met.
Existencia pomoci v prípade opatrení poskytnutých v rámci plánu podpory gréckych bánk (opatrenia FB1, FB2 a FB3)
It also stated that the protracted period of time prior to the recapitalisations was due to the sharp deterioration of the operating environment in Greece and the impact of the PSI programme, to the complexity of the whole project and to the need to maximise private investors' participation in the share capital increases.
Kapitál vo výške 50 miliónov EUR, ktorý Grécko vložilo do banky FB Bank v júli 2009 (opatrenie FB1), grécke štátne cenné papiere vo výške 60 miliónov EUR v máji 2012 (opatrenie FB2), a štátna záruka poskytnutá banke FB Bank na emitované dlhopisy s nominálnou hodnotou 50 milióna EUR v marci 2011 (opatrenie FB3) sa poskytli v rámci plánu podpory gréckych bánk [112].
Regarding the proportionality of the first bridge recapitalisation, the Bank of Greece pointed out that the full implementation of the restructuring plan to be submitted to the Commission is safeguarded by the fact that the suspension of the voting rights of the HFSF will be lifted if, inter alia, the restructuring plan is substantively violated.
V rozhodnutí o schválení tohto plánu Komisia dospela k záveru, že opatrenia poskytnuté v rámci tohto plánu predstavujú štátnu pomoc.
The Bank of Greece also observed that the Bank's difficulties were not due either to an underestimation of risks by the Bank's management or to commercially aggressive actions.
Komisia preto poznamenáva, že prevedené činnosti by bez týchto opatrení ďalej neexistovali.
COMMENTS FROM THE HFSF
Tieto opatrenia prispeli k stabilizácii a kontinuite hospodárskych činností, ktoré boli neskôr prevedené na banku, a Komisia sa preto domnieva, že priniesli prospech hospodárskym činnostiam banky FB Bank, ktoré boli neskôr prevedené na banku, a predstavujú štátnu pomoc v zmysle článku 107 ods. 1 zmluvy.
Regarding the appropriateness of the first bridge recapitalisation, to address the issue of potential State interference if the State provides high amounts of State aid through the HFSF and the HFSF has full voting rights, the HFSF stated that the HFSF-funded banks are not considered to be public entities or under State control and that they will not be controlled by the State after they have been permanently recapitalised by the HFSF.
Existencia pomoci v prípade opatrení poskytnutých v súvislosti s riešením krízovej situácie banky FB Bank (opatrenia FB4 a FB5)
The HFSF pointed out that it is a fully independent private-law legal entity with autonomy of decision.
Komisia poznamenáva, že fond HFSF je subjekt zriadený a financovaný Gréckom na účely podpory bánk a opatrenia FB4 a FB5 preto zahŕňajú štátne prostriedky.
It is not subject to government control, pursuant to Article 16C(2) of the HFSF law, according to which the credit institutions to which the HFSF has provided capital support are not part of the broader public sector.
Komisia takisto poznamenáva, že opatrenia FB4 a FB5 majú selektívny charakter, keďže prinášajú prospech len činnostiam banky FB Bank.
It also referred to the governing structure of the HFSF.
Komisia sa ďalej domnieva, že opatrenia FB4 a FB5 poskytujú činnostiam banky FB Bank jasnú výhodu tým, že ich pomáhajú zachovávať.
As regards the intervention of the HFSF in the Bank's management, the HFSF noted that it would respect the Bank's autonomy and not interfere with its day-to-day management given that its role is limited to that laid down in the HFSF law.
Prevodný príkaz v tomto prípade naozaj predstavuje predaj vcelku.
It stated that there would not be any State interference or coordination and that the decisions of the Bank regarding the lending process (inter alia on collateral, pricing and solvency of borrowers) would be taken on the basis of commercial criteria.
Hoci sa nebude prevádzať kapitál a podriadený dlh, prevedú sa kľúčové produktívne bankové aktíva (pobočky, vklady a úvery).
The HFSF pointed out that the HFSF law and the pre-subscription agreement set appropriate safeguards in order to prevent existing private shareholders from excessive risk-taking.
Opatrením FB4 sa tak prevedeným činnostiam poskytuje výhoda, keďže sa ním poskytujú dostatočné aktíva na pokrytie vkladov, a prevedené činnosti ďalej existujú vďaka predaju aktív banky FB Bank vcelku.
It pointed to elements such as (i) the appointment of HFSF representatives as independent non-executive members of the Board of Directors of the Bank and their presence at committees, (ii) the HFSF carrying out due diligence in the Bank and (iii) the fact that, after the final recapitalisation, its voting rights would be restricted only for as long as the Bank complied with the terms of the restructuring plan.
Bez opatrenia FB5 by predaj navyše nebol možný, pretože prevod by mohol mať nepriaznivý vplyv na koeficient kapitálovej primeranosti nadobúdateľa.
Regarding the necessity of the first bridge recapitalisation and specifically regarding the level of the remuneration of aid, the HFSF stated that the remuneration had been agreed with the representatives of the Commission, the ECB and the IMF.
Prevedené činnosti by tak ďalej neexistovali a opatrenia FB4 a FB5 im preto poskytujú jasnú výhodu.
That agreed level took into account that the first bridge recapitalisation would be converted into a permanent recapitalisation before 30 September 2012, a deadline which was set in March 2012 in the MEFP between the Commission, the ECB, the IMF and Greece.
Komisia sa domnieva, že opatrenia FB4 a FB5 nie sú v súlade so zásadou súkromného investora v trhovom hospodárstve.
Regarding the proportionality of the first bridge recapitalisation, the HFSF noted that the measures it adopted, such as those described in recital 175, are sufficient safeguards in view of the large amounts of aid received and the protracted rescue period.
HFSF v skutočnosti nemôže očakávať, že na svojom príspevku zarobí.
Moreover, the HFSF stated that there are appropriate measures in place in order to ensure that banks in which the HFSF participates do not share commercially sensitive information between them.
Za svoj príspevok nedostal žiadne pohľadávky voči banke, ale len pohľadávku voči subjektu v likvidácii, teda banke FB Bank [113].
Such measures include the appointment of different HFSF representatives to those banks, the mandates addressed to those representatives which specifically safeguard against the flow of information from one representative to another and clear internal instructions to those officers not to transmit commercially sensitive information of the banks.
HFSF tak pravdepodobne nezíska späť finančné prostriedky, ktorými prispel, v plnej hodnote.
Moreover, the HFSF stated that it does not exercise its rights in relation to the banks in a manner which may prevent, restrict, distort or significantly lessen or impede effective competition.
Selektívna výhoda, ktorá sa poskytuje opatreniami FB4 a FB5, narúša hospodársku súťaž tým, že pomáha zachovávať jednu bankovú činnosť a zároveň jej umožňuje pôsobiť na trhu a konkurovať iným bankám vrátane dcérskych spoločností zahraničných bánk, ktoré sú v Grécku aktívne alebo majú potenciálny záujem vstúpiť na grécky trh.
Lastly, the HFSF pointed out that the members of its Board of Directors and its employees are subject to strict confidentiality rules and fiduciary duties and are bound by provisions concerning professional secrecy with regards to its affairs.
Opatrenia FB4 a FB5 majú preto vplyv na obchod medzi členskými štátmi a potenciálne narúšajú hospodársku súťaž.
ASSESSMENT OF AID RELATED TO THE ACQUIRED BUSINESSES
Komisia preto dospela k záveru, že pokrytie likvidnej medzery vo výške 456,97 milióna EUR zo strany HFSF v súvislosti s aktívami prevedenými z banky FB Bank na banku a záväzok HFSF pokryť kapitálové potreby súvisiace s týmito aktívami, ktoré môžu dosiahnuť až 100 miliónov EUR, predstavujú štátnu pomoc v zmysle článku 107 ods. 1 zmluvy.
ASSESSMENT OF THE STATE SUPPORT RELATED TO THE RESOLUTION OF THE THREE COOPERATIVE BANKS
Príjemca opatrení FB4 a FB5
Existence and the amount of aid
Ako už bolo vysvetlené v odôvodnení 193, Komisia považuje činnosti banky FB Bank za príjemcu opatrení FB4 a FB5, keďže pomoc umožnila pokračovať v týchto hospodárskych činnostiach v rámci banky.
The Commission first has to assess whether the State support related to the resolution of the three Cooperative Banks (meaning the financing of the funding gaps which enabled the transfer of the deposits) constitutes State aid within the meaning of Article 107(1) of the Treaty.
Pokiaľ ide o otázku, či predaj činností banky FB Bank predstavuje štátnu pomoc banke, Komisia musí v súlade s bodom 49 oznámenia o bankovníctve z roku 2008 posúdiť, či sú splnené určité požiadavky.
According to that provision, State aid is any aid granted by a Member State or through State resources in any form whatsoever which distorts, or threatens to distort, competition by favouring certain undertakings, in so far as it affects trade between Member States.
Konkrétne musí preskúmať, či i) proces predaja prebiehal otvorene a nediskriminačne; ii) sa predaj uskutočnil za trhových podmienok a iii) finančná inštitúcia alebo vláda maximalizovali predajnú cenu dotknutých aktív a pasív.
The Commission will start by assessing whether or not there was an advantage for the following potential beneficiaries: (i) the Cooperative Banks and the potentially transferred ‘activities’ to the Bank; and (ii) the Bank.
Banka nadobudla súbor aktív a pasív banky FB Bank, pretože v rámci nediskriminačného postupu verejného obstarávania otvoreného ostatným bankám predložila ponuku, ktorá sa uprednostnila.
Existence of aid to the three Cooperative Banks and to the activities potentially transferred to the Bank.
Banka Bank of Greece sa rozhodla osloviť len štyri najväčšie banky pôsobiace v Grécku, z ktorých nezáväzné ponuky predložila len banka a jedna ďalšia banka.
With regards to the three Cooperative Banks, the Commission notes that Lesvos-Limnos Bank, Achaia Bank and Lamia Bank have been put in liquidation and their banking licenses withdrawn.
Banka Bank of Greece vyzvala dvoch uchádzačov, aby predložili vylepšené ponuky.
Therefore, they will no longer carry out economic activities on the banking market.
Banka Bank od Greece vybrala banku NBG, pretože jej ponuka zahŕňala menšie náklady na krízové riešenie situácie banky [114].
The State support, that is to say the financing of the funding gaps, would constitute State aid to the transferred claims and liabilities within the meaning of Article 107(1) of the Treaty only if they together constitute an undertaking.
Komisia berie na vedomie, že banka Bank of Greece oslovila len štyri banky [115].
The concept of an undertaking encompasses every entity engaged in an economic activity, regardless of legal status and the way in which it is financed.
Ani pri obmedzenom počte oslovených kupujúcich nemožno povedať, že nešlo o otvorené výberové konanie, vzhľadom na nízky počet bánk pôsobiacich v Grécku, ktoré by boli dostatočne veľké na to, aby mohli prijať ponúkané aktíva a mali v čase riešenia krízovej situácie banky dostatočný kapitál, a vzhľadom na nízky záujem vyjadrený zo strany zahraničných úverových a finančných inštitúcií v čase riešenia krízovej situácie banky podieľať sa na bankových činnostiach v Grécku.
Any activity consisting in offering goods or services on a given market is regarded as an economic activity.
Banka Bank of Greece navyše vopred určila portfólio aktív a pasív, ktoré sa bude prevádzať, a rozvrh, ktorý sa musí v ponukách dodržať, aby boli platné.
Therefore, in order to conclude whether there is aid to an undertaking, it should be assessed whether the transfer of claims and liabilities entail the transfer of an economic activity.
Komisia sa domnieva, že proces predaja bol otvorený a nediskriminačný.
As already mentioned in section 2.2.1, following the resolution of the three Cooperative Banks, only the deposits and the claims and liabilities towards the HDIGF were transferred to the Bank.
Záporná cena (t. j. s prihliadnutím na likvidnú medzeru a pokrytie uvedených kapitálových potrieb) za aktíva a pasíva banky FB Bank neznamená, že v predajnej cene sa premieta trhová hodnota podniku [116].
The three Cooperative Banks employed 187 employees and had 21 branches in total.
Komisia nemá žiadny dôvod domnievať sa, že v predloženej ponuke a zaplatenej cene sa nepremieta trhová cena podniku.
It should be noted that there was no automatic transfer of branches or employment contracts or loans between the three Cooperative Banks and the Bank.
Treba pripomenúť, že podľa gréckeho práva reálnu hodnotu prevedených aktív na začiatku odhadne banka Bank of Greece a potom ju v priebehu nasledujúcich šiestich mesiacov overia a upravia externí odborníci.
Therefore, the fact that loans are not transferred to the Bank but remain with the three Cooperative Banks in liquidation, the fact that no branches were transferred and the lack of automatic transfer of labour contracts contribute [109] to the conclusion that there is no transfer of economic activity.
V dôsledku toho sa Komisia domnieva, že predaj sa uskutočnil za trhových podmienok.
The transferred liabilities (that is to say deposits) cannot be considered to be the beneficiary of State support, as they do not constitute an undertaking.
Na základe uvedeného a v súlade s bodom 49 oznámenia o bankovníctve z roku 2008, bodom 20 oznámenia o reštrukturalizácii a vlastnou rozhodovacou praxou [117] dospela Komisia k záveru, že štátnu pomoc možno v prípade banky vylúčiť.
In summary, the three existing legal entities have been put into liquidation and no longer carry out any banking activities.
Záver o existencii a celkovej výške prijatej pomoci
At the same time, the transferred liabilities do not constitute an economic activity.
Na základe odôvodnení 190 až 197 sa Komisia domnieva, že opatrenia FB1, FB2, FB3, FB4 a FB5 spĺňajú podmienky stanovené v článku 107 ods. 1 zmluvy a predstavujú štátnu pomoc.
It is therefore concluded that the grant of EFSF bonds by the HFSF to the Bank to cover the funding gap of the acquired assets and liabilities of the three Cooperative Banks does not allow the continuation of the latter's economic activities.
Komisia preto dospela k záveru, že činnosti banky FB Bank dostali štátnu pomoc vo forme kapitálovej podpory vo výške 606,97 milióna EUR (opatrenia FB1, FB4 a FB5) spolu s úvermi gréckych štátnych cenných papierov v hodnote 60 miliónov EUR (opatrenie FB2) a štátnymi zárukami vo výške 50 miliónov EUR (opatrenie FB3), ako je zhrnuté v tabuľke 10.
Therefore, the HFSF support does not constitute either aid to the liquidated entities or aid to the transferred assets and liabilities.
Tabuľka 10
Existence of aid to the Bank
Prehľad celkovej pomoci činnostiam banky FB Bank
With regards to whether the sale of the three Cooperative Banks' assets and liabilities entails State aid to the Bank, the Commission must assess whether certain requirements are met and in particular whether (i) the sale process was open, unconditional and non-discriminatory; (ii) the sale took place on market terms; and (iii) the State maximised the sale price for the assets and liabilities involved [110].
Charakter pomoci
As already mentioned in recital 64, the Bank of Greece only contacted the five largest Greek credit institutions operating in Greece at that time.
Výška pomoci (v miliónoch EUR)
The limited set of buyers contacted cannot exclude that the tender was open given that they were the only credit institutions likely to be interested in submitting an offer.
Rekapitalizácia
Indeed, the package for sale only included deposits.
Financovanie likvidnej medzery z banky FB Bank do banky
Therefore, to benefit from synergies on those deposits, it is necessary to operate in the geographical area concerned.
Záväzný prísľub pokryť kapitálové potreby súvisiace s aktívami banky FB Bank prevedenými na banku
A bank with no presence in those areas could not offer services to depositors, thus deposit retention would be minimal and the acquirer would support the cost of acquiring the deposits for no benefit.
Celková výška poskytnutej kapitálovej pomoci
The Bank of Greece could therefore reasonably assume within the short timeframe available to resolve the three Cooperative Banks that only credit institutions whose business models were consistent with being able to service those depositors would have an interest in acquiring those assets.
Celková výška napokon vyplatenej kapitálovej pomoci
The Bank's offer was the preferred one in terms of consideration and time required for the conclusion of the transfer.
Dlhopisy
The Bank offered to pay as consideration an amount equal to […] % of the transferred deposits and estimated that the transfer could be completed within one working day.
Záruka
On the basis of the above, the Commission concludes that State aid to the Bank can be excluded, in line with point 20 of the Restructuring Communication and the Commission's decisional practice [111].
Celková výška pomoci poskytnutej na zvýšenie likvidity
Conclusion on the existence of aid
Právny základ posúdenia zlučiteľnosti