natgillin/translations-raw huggingface dataset:
The Commission then asked Germany for further comments, which were submitted by letters dated 1 October and 6 October 2004.
Komisija je nato Nemčijo prosila za nove pripombe, ki jih je slednja predložila v pismih z dne 1. oktobra 2004 in 6. oktobra.
Landesbank Hessen-Thüringen Girozentrale (Helaba), with head offices in Frankfurt am Main and Erfurt, has a group balance-sheet total of EUR 140 billion (as at 31 December 2003), which makes it one of Germany's largest banks.
Landesbank Hessen-Thüringen Girozentrale (Helaba) s sedežema v Frankfurtu na Majni in Erfurtu je z bilančno vsoto koncerna v višini približno 140 milijard EUR (31. decembra 2003) ena največjih nemških bank.
The bank's balance-sheet total amounts to some EUR 130 billion, which is more than 90 % of the group balance-sheet total.
Bilančna vsota banke znaša približno 130 milijard EUR, kar je več kot 90 % bilančne vsote koncerna.
The owners and guarantors of the bank have since 1 January 2001 been the Sparkassen- und Giroverband Hessen-Thüringen with an 85 % stake (at the time of the transfer at the end of 1998, it was the sole owner and guarantor), the Land of Hessen with a 10 % stake and the Land of Thuringia with a 5 % stake.
Lastniki in garanti banke so od 1. januarja 2001 združenje Sparkassen- und Giroverband Hessen-Thüringen s 85 % deležem, ki je bilo v času prenosa ob koncu leta 1998 edini lastnik in garant, dežela Hessen s 10 % deležem in dežela Turingija s 5 % deležem.
According to its annual report for 2003, the group had equity capital of EUR 4,1 billion.
Koncern je imel v poslovnem poročilu za leto 2003 prikazanih približno 4,1 milijarde lastnih sredstev.
As at 31 December 2003, the group's core capital ratio was 7,8 % and its equity ratio 11,3 %.
Njegov delež temeljnega kapitala je 31. decembra 2003 znašal 7,8 %, delež lastnih sredstev pa 11,3 %.
Given its ownership structure, Helaba operates as the principal banker to the Land of Hessen and to the Land of Thuringia and as the central institution of the Hessen and Thuringia savings banks.
Helaba glede na svojo lastniško strukturo deluje kot vodilna banka v deželah Hessen in Turingija ter osrednja institucija hranilnic v Hessnu in Turingiji.
Helaba also operates as a customer-orientated and market-orientated commercial bank with a particular emphasis on wholesale banking, and as a partner for public-sector customers, supporting the Länder and municipalities in financing and implementing investment plans.
Poleg tega deluje kot poslovna banka, usmerjena v stranke in na trg, s posebnim poudarkom na bančnih poslih za podjetja, in kot družbenik za stranke v javnem sektorju, ki podpira dežele in občine pri financiranju in izvajanju naložbenih programov.
Via its holding in the Landesförderinstitute, Helaba supports economic and structural-policy objectives in Hessen and Thuringia.
Helaba preko svoje udeležbe pri združenju Landesförderinstitute (deželne institucije za pospeševanje) podpira gospodarsko- in strukturnopolitične cilje v Hessnu in Turingiji.
The Helaba group had some 3500 employees as at 31 December 2003.
V koncernu Helaba je bilo 31. decembra 2003 zaposlenih približno 3500 ljudi.
It is present in major world financial centres.
Prisoten je na večjih svetovnih finančnih središčih.
In addition to its two head offices in Frankfurt am Main and Erfurt, it is represented internationally in London, New York, Zurich, Dublin, Madrid, Paris and Luxembourg.
Ima sedeža v Frankfurtu na Majni in Erfurtu, poleg tega pa je mednarodno zastopan med drugim v Londonu, New Yorku, Zürichu, Dublinu, Madridu, Parizu in Luxembourgu.
THE TRANSFER OF THE SPECIAL ‘HOUSING AND FUTURE INVESTMENT’ FUND AS A SILENT PARTNERSHIP CONTRIBUTION TO HELABA
PRENOS POSEBNEGA SKLADA „STANOVANJSKA IN TERMINSKA NALOŽBA“ V OBLIKI VLOŽKA TIHE DRUŽBE NA HELABO
By the Law of 17 December 1998, the Land of Hessen established a special ‘Housing and Future Investment’ fund.
Z zakonom z dne 17. decembra 1998 je dežela Hessen ustanovila poseben sklad „Stanovanjska in terminska naložba“.
The Hessen Finance Ministry was empowered to transfer all or part of this fund to a credit institution as a silent partnership contribution or in any other form of equity holding recognised for supervisory purposes in return for a market remuneration that remained with the special fund.
Ministrstvo za finance v Hessnu je s tem dobilo pooblastilo za prenos celotnega ali dela tega sklada na kreditno institucijo v obliki vložka tihe družbe ali kakršni koli drugi obliki kapitalske udeležbe, priznani s strani nadzorstva, v zameno za tržno nadomestilo, ki se izteka nazaj v posebni sklad.
The special fund comprises Land claims from loans granted between 1948 and 1998 for the purpose of promoting social housing construction.
Posebni sklad zajema terjatve Hessna za posojila za pospeševanje gradnje socialnih stanovanj, dodeljena med letoma 1948 in 1998.
As at 31 December 1998, the loan portfolio amounted to DEM 7,829 billion (Land portion: DEM 6,026 billion).
decembra 1998 je portfelj posojil znašal 7,829 milijarde DEM (delež Hessna 6,026 milijarde DEM).
Its cash value was determined by two independent experts at DEM 2,473 billion (EUR 1,264 billion).
Njegovo denarno vrednost sta določila neodvisna strokovnjaka in znaša 2,473 milijarde DEM (1,264 milijarde EUR).
This special fund was transferred to Helaba as a silent partnership contribution under a contract between the Land of Hessen and Helaba signed in December 1998 and entering into force on 31 December 1998.
Ta posebni sklad se je na Helabo prenesel v obliki vložka tihe družbe z dnem 31. decembra 1998 po sporazumu med deželo Hessen in Helabo, podpisanim decembra 1998.
A contractually agreed re-valuation by an expert on 31 December 2003 put the value of the promotion-related assets at EUR [...] million. The increase in value is due to the fact that accruals had exceeded outflows from the promotion-related assets since 1999.
Pogodbeno dogovorjena ponovna strokovna ocena z dne 31. decembra 2003 je pokazala vrednost sredstev za pospeševanje […] milijonov EUR. Povečanje vrednosti je posledica dejstva, da so od leta 1999 dotoki presegali odtoke iz sredstev za pospeševanje.
However, pending final agreement with BAFin on the outcome of the expert valuation as at 31 December 2003, Helaba continues to have only the previous reference amount available.
Vendar pa ima Helaba do končnega dogovora z Zveznim uradom za finančne storitve (BaFin), prej Zveznim organom za bančni nadzor (BAKred), o rezultatu strokovnega vrednotenja z dne 31. decembra 2003 na razpolago le dotedanji referenčni znesek.
No injection of liquidity or inflow of revenue for the bank is associated with the transfer of the special fund as a silent partnership contribution.
Povečanje likvidnih sredstev ali dohodka banke ni povezano s prenosom posebnega sklada v obliki vložka tihe družbe.
Income (interest and repayments) from the house-building loans does not accrue to the bank, but to the special fund and must be ploughed back into the promotion of housing construction.
Povračila (obresti in amortizacije) za posojila za gradnjo stanovanj se ne iztekajo v banko temveč nazaj v posebni sklad in se morajo še naprej uporabljati za namene pospeševanja.
The transfer of the special fund to Helaba should be seen in the light of the Land's efforts to tighten up its aid and structural-policy instruments and make them more efficient.
Na prenos posebnega sklada na Helabo je treba gledati z vidika prizadevanj Hessna za okrepitev in povečanje učinkovitosti instrumentov pomoči in strukturne politike.
According to information provided by Germany, the Land initially considered the possibility of inviting bids for the outstanding claims and selling them by auction (highest bidder) to private operators for cash and split up into tranches.
Hessen je po navedbah Nemčije sprva razmišljal o objavi javnega razpisa za terjatve iz posojil za gradnjo stanovanj, ki bi se razdeljene v tranše prodale najugodnejšim zasebnim subjektom za denarno vrednost.
Although splitting the special fund into tranches would have had the advantage of increasing the number of potential banking partners for the Land given that very few operators would have been interested in taking on a fund of some DEM 2,5 billion, the fund was nevertheless a revolving fund involving income from loans granted being ploughed back and thus constituted a single entity.
Razdelitev posebnega sklada v tranše bi bila sicer prednost, saj bi se povečalo število morebitnih bančnih družbenikov Hessna, glede na to, da je število morebitnih interesentov za sklad v višini približno 2,5 milijarde DEM že od vsega začetka zelo omejeno. Vendar pa gre pri posebnem skladu za obnovljivi sklad, ki se refinancira s povračili za dodeljena posojila in potemtakem predstavlja eno samo enoto.
It would, according to Germany, have been very expensive to carry out a periodic valuation of the tranches divided between individual institutions.
Nemčija meni, da bi bilo periodično določanje vrednosti tranš, razdeljenih med posamezne institucije, precejšen strošek.
The Land would, moreover, have lost the flexibility it had to shift the emphasis between the various aid objectives.
Poleg tega bi se Hessnu zmanšala fleksibilnost pri prenašanju poudarka med različnimi cilji pomoči.
The Land consequently decided to keep the house-building assets undivided, to continue to use the income for promotion purposes in house building and economic promotion, to organise the administration of the assets as effectively and cheaply as possible and, by using the claims in other ways, to generate additional income.
Hessen se je zato odločil obdržati sredstva za gradnjo stanovanj nerazdeljena, še naprej uporabljati povračila za namene pospeševanja na področju gradnje stanovanj in pospeševanje gospodarstva, organizirati čim učinkovitejše in ugodnejše upravljanje sredstev ter z uporabo terjatev na druge načine ustvarjati dodaten dohodek.
In the light of these considerations, Helaba declared itself ready to take on and administer the entire fund of outstanding claims worth DEM 2,473 billion (EUR 1,264 billion).
Helaba je v okviru teh načrtovanih ciljev izrazila pripravljenost, da v obliki vloge sprejme in upravlja celoten sklad terjatev v višini 2,473 milijarde DEM (1,264 milijarde EUR).
Another advantage of transferring it to Helaba was that the latter had, since 1953, already been administering the Landestreuhandstellen (LTH) as a legally independent business division and handling aid programmes in a trust capacity.
Še ena prednost prenosa sklada na Helabo je bilo dejstvo, da je slednja že od leta 1953 kot pravno neodvisen resor upravljala fiduciarne agencije (Landestreuhandstelle – LTH) in fiduciarno vodila programe pospeševanja.
Helaba is moreover required under the State Treaty and its own statutes to comply with general economic basic principles in pursuing its business policy.
Helaba mora v skladu z državno pogodbo in svojim statutom pri izvajanju poslovne politike upoštevati splošna gospodarska načela.
These three factors convinced the Land that Helaba would be best suited as a banking partner in realising the objectives of the Special Fund Law.
Ti trije dejavniki so Hessen prepričali, da je Helaba najprimernejši bančni družbenik za uresničevanje ciljev Zakona o posebnem skladu.
Under [...] within the meaning of Section 10(4) of the German Banking Act of 30 December 1998, the Land transferred the special fund to the bank as a silent partnership contribution in the form of an internal partnership.
Hessen je v skladu z […] v smislu člena 10(4) Zakona o bančništvu (KWG) z dne 30. decembra 1998 na banko prenesel posebni sklad v obliki notranje družbe kot „vložek sredstev tihe družbe“.
This means that the Land co-founded a silent partnership with Helaba under Sections 230 et seq. of the German Commercial Code, i.e. a partnership whereby the silent partner has a capital holding in another business involving the transfer of a contribution to the assets of the active partner.
To pomeni, da je Hessen s Helabo ustanovil tiho družbo v skladu z odstavkom 230 in dalje trgovinskega zakonika, torej osebno družbo, v kateri ima tihi družbenik kapitalski delež pri drugi dejavnosti, ki vključuje prenos vložka na sredstva dejavnega družbenika.
According to the [...] the purpose of the contribution is ‘to serve permanently as liable equity capital in the form of core capital within the meaning of Section 10(2), the first sentence of Section 10(2a) and Section (4) of the Banking Act, taking account of the requirements formulated by the Basle Committee on Banking Supervision (Bank for International Settlements) on 27 October 1998’.
V skladu z […] je namen vložka „služiti trajno kot rizični lastni kapital in sicer v obliki temeljnega kapitala v smislu člena 10(2) in prvega stavka člena (10)(2a) ter člena 10(4) KWG ter ob upoštevanju zahtev Baselskega odbora za bančni nadzor (Banka za mednarodne poravnave) z dne 27. oktobra 1998“.
For a silent partnership contribution to count as the liable equity capital of a credit institution under Section 10(4) of the German Banking Act, it must in particular participate fully in losses and, in the event of the institution's bankruptcy or liquidation, be repayable only after all creditors' claims have been met.
Da bi se vložek tihe družbe štel za rizični lastni kapital kreditnih institucij v skladu s členom 10(4) KWG, se mora predvsem v celoti upoštevati pri izgubi in v primeru stečajnega postopka ali likvidacije povrniti šele po izpolnitvi terjatev vseh upnikov.
The fact that, as was agreed, the silent partnership contribution cannot be withdrawn by the Land of Hessen means that, according to the information provided by Germany, it does not count towards the 15 % limit for innovative financial instruments laid down by the Basle Committee, but is fully recognised by BAKred, as tier 1 liable equity capital (core capital).
Glede na dogovor o neodpovedljivosti vložka tihe družbe s strani Hessna po navedbah Nemčije vložek ni vštet v meji 15 % za inovativne finančne instrumente, ki jo je določil Baselski odbor, temveč jo je BAKred v celoti priznal kot rizični lastni kapital razreda 1 (temeljni kapital).
The alternative of transferring the housing construction fund not as a silent partnership contribution, but as share capital was, according to Germany, not pursued by the Land because it was not at the time willing to commit itself to being a direct shareholder and guarantor, and this was in any case not desired by the then sole shareholder, the Sparkassen- und Giroverband Hessen-Thüringen.
Po navedbah Nemčije Hessen ni sledil možnosti prenosa sklada za gradnjo stanovanj v obliki osnovnega kapitala in ne vložka tihe družbe, saj se takrat ni hotel obvezati za neposrednega delničarja in garanta, kar pa v tistem času edini delničar Sparkasse- und Giroverband Hessen-Thüringen niti ni želel.
The asset transfer to Helaba by the Land of Hessen in 1998 occurred later than the earlier transfers of promotion-related assets to Landesbanks in Germany, which are also the subject of the complaint by the BdB and of proceedings initiated by the Commission.
Prenos sredstev dežele Hessen na Helabo leta 1998 se časovno ne ujema s prejšnjimi prenosi sredstev za pospeševanje na nemške deželne banke, ki so prav tako predmet pritožbe BdB in preiskovalnih postopkov Komisije.
However, according to Germany, the earlier transfers did to some extent serve as a model to the Land of Hessen even though, in the asset transfer to Helaba, account was taken of the developments which had in the meantime taken place on the capital market and in banking supervisory rules in the direction of increased use and recognition of hybrid or innovative equity capital instruments, which in the first half of the 1990s were not yet available in Germany in that form or to that extent and could not yet be taken into consideration for supervisory purposes.
Vendar pa so po navedbah Nemčije prejšnji prenosi v določeni meri deželi Hessen služili kot vzorec, čeprav se je pri prenosu sredstev na Helabo upošteval nadaljnji razvoj trga kapitala in pravil za nadzor bančništva v smeri povečane uporabe in priznavanja hibridnih ali inovativnih instrumentov lastnega kapitala, ki v prvi polovici 90-ih let prejšnjega stoletja v Nemčiji še niso bili na razpolago v taki obliki ali obsegu in se še niso mogli upoštevati s strani nadzorstva.
The German Banking Act (Kreditwesengesetz) has been amended in line with Council Directive 89/647/EEC (the ‘Solvency Directive’) and Council Directive 89/299/EEC (the ‘Own Funds Directive’), which require banks to have own funds of 8 % of their risk-adjusted assets.
V skladu z Direktivo Sveta 89/647/EGS (v nadaljevanju „Direktiva o solventnosti“) in Direktivo Sveta 89/299/EGS (v nadaljevanju „Direktiva o lastnih virih sredstev“), po katerih je bil spremenjen nemški zakon o bančništvu („KWG“), banke razpolagajo z rizičnim kapitalom v višini 8 % svoje tveganju prilagojene tehtane aktive.
At least four percentage points must consist of what is termed core capital, or ‘tier 1’ capital, meaning capital items which are at the credit institution's disposal without restriction and immediately in order to cover risks or losses as soon as they arise.
Od tega morajo vsaj štiri odstotne točke predstavljati tako imenovani temeljni kapital (kapital „razred 1“), ki zajema postavke kapitala, s katerimi kreditna institucija razpolaga neomejeno in neposredno z namenom kritja tveganj in izgub, takoj ko se te pojavijo.
In determining the total own funds available to a bank for supervisory purposes, the core capital is of decisive importance, because additional capital, or ‘tier 2’ capital, is accepted as underpinning for risk-bearing transactions only up to the amount of the available core capital.
Temeljni kapital je pri ugotavljanju celotnih lastnih sredstev banke v smislu nadzorstva odločilnega pomena, saj se dodatni kapital (kapital „razred 2“) za kritje tveganega poslovanja banke prizna le v višini razpoložljivega temeljnega kapitala.
EFFECTS OF THE TRANSFER ON HELABA'S EQUITY CAPITAL ENDOWMENT
POSLEDICE PRENOSA ZA OBSEG LASTNEGA KAPITALA HELABE
The scale of a credit institution's business depends to a large extent on the amount of its equity capital.
Obseg poslovanja kreditne institucije je v veliki meri odvisen od obsega njenega lastnega kapitala.
This was increased to a not inconsiderable extent by the transfer of the special fund to Helaba.
Ta se je s prenosom posebnega sklada na Helabo precej povečal.
Of the silent partnership contribution of DEM 2,473 billion (EUR 1,264 billion) as valued by an independent expert, entered in Helaba's balance sheet and recognised for supervisory purposes as core capital, an annually fluctuating amount of some DEM 2,3 billion (around EUR 1,2 billion), potentially usable to underpin its competitive business, is available to Helaba.
Od vložka tihe družbe v strokovno določeni vrednosti 2,473 milijarde DEM (1,264 milijarde EUR), vknjiženi v bilanci stanja Helabe in priznani s strani nadzorstva kot temeljni kapital, ima Helaba na razpolago letno nihajoč znesek 2,3 milijarde DEM (približno 1,2 milijarde EUR), ki ga lahko uporablja za kritje konkurenčnih dejavnosti.
The rest is, according to Germany, required as capital coverage for the claims making up the special fund.
Preostanek vložka je po navedbah Nemčije potreben za kapitalsko kritje terjatev, ki sestavljajo posebni sklad.
However, the Land of Hessen and Helaba agreed in the contract on a phased arrangement under which, in the period from 1999 to 2002, only an annually increasing partial amount of the usable core capital was to be actually used by Helaba to cover competitive business, and only this partial amount was to be remunerated accordingly.
Vendar sta se Hessen in Helaba v navedenem sporazumu dogovorila za postopno ureditev, po kateri naj bi Helaba med letoma 1999 in 2002 za konkurenčne dejavnosti dejansko uporabljala le letno naraščajoči delni znesek razpoložljivega temeljnega kapitala in nadomeščal naj bi se le ta delni znesek.
Only as from 2003 was the amount recognised by BaFin, in so far as not required for promotion-related business, to be usable in full to underpin competitive business.
Šele z letom 2003 naj bi se znesek, ki ga je priznal BaFin, če ni potreben za dejavnosti za pospeševanje, v celoti uporabljal za kritje konkurenčnih dejavnosti.
The precise amounts available to Helaba as core capital and usable or actually used for competitive business are shown in the following table:
Natančni zneski, ki so na razpolago Helabi kot temeljni kapital ter se lahko in dejansko se uporabljajo za konkurenčne dejavnosti, so prikazani v naslednji preglednici:
Table:
Preglednica
Extent, recognition for supervisory purposes and use or usability of the silent partnership contribution (in EUR millions; end-of-year figures = annual average figures) [9]
Obseg, priznanje s strani nadzorstva ter posamezna uporaba ali uporabnost vložka tihe družbe (v milijonih EUR; vrednosti ob koncu leta = povprečne letne vrednosti) [9]
Nominal value in the balance sheet
Nominalna vrednost v bilanci stanja
Core capital recognised for supervisory purposes for the underpinning of risk assets
Temeljni kapital, priznan s strani nadzorstva za kritje rizičnega kapitala
Core capital used as cover for promotion-related business
Temeljni kapital, uporabljen za dejavnosti za pospeševanje
Core capital usable as cover for competitive business, but not to be so used under the agreed phased arrangement
Temeljni kapital, uporaben za konkurenčne dejavnosti, ki pa se po dogovorjenem stopenjskem modelu ne uporabi
Core capital usable or actually used under the phased arrangement to cover competitive business
Temeljni kapital, po stopenjskem modelu uporaben ali dejansko uporabljen za konkurenčne dejavnosti
Pending final agreement with BAFin on the outcome of the independent expert valuation of the promotion-related assets as at 31 December 2003, EUR [...] million continue to be available to Helaba as the reference amount (usable for competitive business).
Do končnega dogovora z BAFin o rezultatu strokovne ocene sredstev za pospeševanje z dne 31. decembra 2003 ima Helaba še vedno na razpolago referenčni znesek […] milijonov EUR (uporaben za konkurenčne dejavnosti).
As a result of the capital transfer, according to the information provided by Germany, the core capital ratio (as defined by the Basle Capital Agreement) notified to BAKred, now BAFin, increased from 5,4 % (31 December 1997) to 9,3 % (31 December 1998), while the equity ratio rose from 9,6 % (31 December 1997) to 13,1 % (31 December 1998).
Kot rezultat prenosa kapitala se je po navedbah Nemčije delež temeljnega kapitala (opredeljen v Baselskem sporazumu o lastnem kapitalu), o katerem je bil obveščen BAKred, zdaj BAFin, povečal z 5,4 % (31. december 1997) na 9,3 % (31. december 1998), delež lastnih sredstev pa z 9,6 % (31. december 1997) na 13,1 % (31. december 1998).
The notified core capital and equity ratios thus rose by some 72 % and 36 % respectively.
Priglašena deleža temeljnega kapitala in lastnih sredstev sta se torej povečala za približno 72 % in 36 %.
Through the injection of funds, Helaba's capacity to expand its business with risk-assets to be weighted at 100 %, assuming a multiplication factor of 12,5, which corresponds to the equity ratio of 8 %, was enhanced by some DEM 28 billion (EUR 14 billion).
Z vlogo sredstev se je povečala možnost širjenja dejavnosti Helabe z uporabo 100 % tveganju prilagojene tehtane aktive, pomnožene s faktorjem 12,5, ki ustreza deležu lastnih sredstev 8 %, za približno 28 milijard DEM (14 milijard EUR).
In reality, however, the permissible credit volume could have been expanded even more as a result of a DEM 2,3 billion increase in own funds, since a bank's assets are not usually deemed to bear an average risk of 100 %.
Vendar dejansko lahko povečanje lastnih sredstev za 2,3 milijarde DEM dovoljen obseg kreditiranja razširi v veliko večji meri, saj aktiva banke običajno ni povprečno 100 % tveganju prilagojena tehtana aktiva.
Since this increase in its core capital enabled Helaba to take up further additional capital, its actual lending capacity indirectly increased still further.
Ker je povečanje temeljnega kapitala Helabi omogočilo, da še poveča dodatni kapital, je prišlo do še večjega neposrednega povečanja njene kreditne sposobnosti.