natgillin/translations-raw huggingface dataset:
They opted, therefore, for the REX10 Performance Index of Deutsche Börse AG, which tracks the performance of an investment in Federal loans over a period of exactly ten years.
Zato so stranke uporabile indeks uspešnosti REX10 Performance Index nemške borze (Deutsche Börse AG), ki kaže uspešnost naložbe v obveznice Zvezne republike Nemčije za dobo natanko desetih let.
The index series used in the present case contains the relevant end-of-year results of the REX10 Performance Index since 1970.
V tem primeru uporabljena indeksna vrsta vsebuje vsakokratne letne končne vrednosti indeksa uspešnosti REX10 od leta 1970.
In addition to the reasons already mentioned that could lead to fluctuations in the cash value, it argued that the Land could have switched its promotion policy from lending to outright grants for example, thereby reducing the cash value further.
Poleg navedenih razlogov, ki bi lahko privedli do nihanj denarne vrednosti, bi lahko do zmanjšanja denarne vrednosti privedla tudi preusmeritev politike pospeševanja s strani dežele s posojil za pospeševanje na programe pospeševanje.
In that case the bank could not have taken up the full amount for its competitive business, for safety's sake.
Tako banka iz varnostnih razlogov zneska ne bi mogla v celoti uporabljati za konkurenčne dejavnosti.
It also takes 0,3 % per annum before tax as an appropriate initial rate for the transaction at hand, since that rate was used as a basis for the WestLB decision and in the present case for the appropriate remuneration for the injected capital up to its recognition by BAKred as core capital, and the Commission sees no reason why it should have changed in the intervening years. Nor has Germany put forward any information to the contrary.
Komisija tudi v tem primeru sprejema izhodiščno stopnjo 0,3 % letno pred obdavčitvijo za obravnavano transakcijo.
Since 1 January 1999, marks have been converted into euros at a rate of EUR1 = DEM 1,95583. The figures in DEM must be converted accordingly.
Od 1. januarja 1999 se DEM po tečaju 1,95583 preračuna v EUR. Podatke je v skladu s tem treba preračunati v EUR.
implemented by Germany for Hamburgische Landesbank — Girozentrale, now HSH Nordbank AG
o državni pomoči Nemčije za Hamburgische Landesbank – Girozentrale, zdaj HSH Nordbank AG
(notified under document number C(2004) 3928)
(notificirano pod dokumentarno številko C(2004) 3928)
Having called on the Member State and other interested parties to submit their comments pursuant to the provisions cited above and having regard to their comments,
po pozivu državam članicam in drugim zainteresiranim strankam, naj predložijo svoje pripombe v skladu z navedenimi členi, in ob upoštevanju teh pripomb,
The procedure concerns the transfer of shares in Hamburgische Wohnungsbaukreditanstalt (‘WK’) to Hamburgische Landesbank — Girozentrale (‘HLB’) by the Land of Hamburg (‘FHH’).
Predmet postopka je prenos delnic Hamburgische Wohnungsbaukreditanstalt („WK“) na Hamburgische Landesbank – Girozentrale („HLB“) s strani dežele Hamburg („FHH“).
By letter of 12 January 1993, the Commission asked Germany for information concerning the circumstances of, and reasons for, a capital increase in WestLB resulting from the incorporation of Wohnungsbauförderanstalt (‘WfA’) and similar increases in the own funds of the Landesbanks of other Länder.
Komisija je v pismu z dne 12. januarja 1993 Nemčijo zaprosila za informacije o okoliščinah in razlogih za povečanje kapitala pri WestLB kot posledici vključitve stanovanjske organizacije Wohnungsbauförderanstalt („WfA“) ter o morebitnih podobnih povečanjih lastnih sredstev deželnih bank drugih zveznih dežel.
Germany replied in March and September 1993 and, in response to further Commission requests dated 10 November and 13 December 1993, provided additional information in March 1994.
Nemčija je odgovorila marca in septembra 1993 ter, na nadaljnje zahteve Komisije z dne 10. novembra in 13. decembra 1993, marca 1994 predložila dodatne informacije.
In addition to information concerning WfA's transfer to WestLB, the German replies referred to similar transfers in Lower Saxony, Berlin and Schleswig-Holstein.
V odgovorih Nemčije so bili poleg informacij o prenosu WfA na WestLB omenjeni podobni prenosi v Spodnji Saški, Berlinu in Schleswig-Holsteinu.
(‘BdB’), an association representing private banks established in Germany, informed the Commission among other things that, with effect from 1 January 1986 and 1 January 1993, FHH had transferred shares in WK to HLB directly or indirectly.
(„BdB“), združenje, ki predstavlja zasebne banke s sedežem v Nemčiji, je v pismih z dne 31. maja in 21. decembra 1994 Komisijo med drugim obvestilo o tem, da je FHH z začetkom veljavnosti 1. januarja 1986 in 1. januarja 1993 neposredno ali posredno prenesla delnice WK na HLB.
This increased the own funds at HLB's disposal and, in the BdB's view, distorted competition in its favour since the parties had not agreed remuneration consistent with the market-economy investor principle.
To je povečalo lastna sredstva HLB, kar je po mnenju BdB izkrivilo konkurenco v njen prid, saj se stranke niso dogovorile o nadomestilu, ki bi bilo skladno z načelom vlagatelja v tržnem gospodarstvu.
In its second letter, the BdB accordingly lodged a formal complaint and requested the Commission to initiate proceedings under Article 93(2) of the EC Treaty (now Article 88(2)) against Germany.
V drugem navedenem pismu je BdB zato vložilo uradno pritožbo in od Komisije zahtevalo, da proti Nemčiji sproži postopek v skladu s členom 93(2) Pogodbe ES (zdaj člen 88(2) Pogodbe ES).
The complaint also related to similar transfers of assets to Westdeutsche Landesbank in North Rhine-Westphalia, Norddeutsche Landesbank in Lower Saxony, Landesbank Schleswig-Holstein (‘LSH’) in Schleswig-Holstein, Landesbank Berlin in Berlin and Bayerische Landesbank in Bavaria.
Pritožba se je nanašala tudi na podobne prenose sredstev na Westdeutsche Landesbank v Severnem Porenju-Vestfaliji, Norddeutsche Landesbank na Spodnjem Saškem, Landesbank Schleswig-Holstein („LSH“) v Schleswig-Holsteinu, Landesbank Berlin v Berlinu in Bayerische Landesbank na Bavarskem.
In February and March 1995 and December 1996 several banks associated themselves individually with the complaint lodged by their association.
Februarja in marca 1995 ter decembra 1996 se je pritožbi Združenja pridružilo več njegovih posameznih bank.
The Commission investigated first the transfer of shares to WestLB.
Komisija je najprej preiskala prenos sredstev na WestLB.
By Decision 2000/392/EC, it finally found that the difference between the remuneration paid and the normal market return constituted state aid incompatible with the common market and ordered recovery of the aid.
Leta 1999 je z Odločbo 2000/392/ES na koncu ugotovila, da razlika med izplačanim nadomestilom in običajnim tržnim donosom predstavlja ukrep pomoči, ki ni združljiva s skupnim trgom in jo je treba vrniti.
This decision was annulled by the Court of First Instance of the European Communities on 6 March 2003 as insufficient reasons had been given for two of the factors used to calculate the appropriate remuneration, but it was confirmed in all other respects.
Sodišče prve stopnje Evropskih skupnosti je to odločbo 6. marca 2003 razveljavilo zaradi nezadostne utemeljitve dveh dejavnikov, uporabljenih pri izračunu višine nadomestila, v vseh drugih pogledih pa jo je potrdilo.
Alongside the present Decision, the Commission is adopting a new decision on WestLB which takes account of the Court's criticisms.
Istočasno z zadevno odločbo Komisija sprejema novo odločbo glede WestLB, ki upošteva kritiko Sodišča.
On 1 September 1999 the Commission sent Germany a request for information on the transfers of assets to the other Landesbanks, including HLB.
Komisija je 1. septembra 1999 Nemčijo zaprosila za informacije o posameznih prenosih na druge deželne banke, med katerimi je tudi HLB.
By letter of 8 December 1999, Germany submitted information on the transfer of WK to HLB which it supplemented by letter of 22 January 2001.
Nemčija je nato v pismu z dne 8. decembra 1999 predložila informacije o prenosu WK na HLB, ki jih je dopolnila v pismu z dne 22. januarja 2001.
By letter of 13 November 2002, the Commission informed Germany of its decision to initiate on account of the aid the procedure laid down in Article 88(2) of the EC Treaty.
Komisija je v pismu z dne 13. novembra 2002 Nemčijo obvestila o svojem Sklepu, da bo zaradi pomoči sprožila postopek v skladu s členom 88(2) Pogodbe ES.
After requesting, and being granted, extensions of the deadline, Germany submitted its comments and provided additional information by letters of 14 April and 15 May 2003.
Nemčija je po tem, ko je zaprosila za podaljšanja rokov in so bili le-ti odobreni, v pismih z dne 14. aprila 2003 in 15. maja 2003 predložila svoje pripombe in dodatne informacije.
Further questions were discussed at meetings with representatives of the German authorities on 26 June 2003.
O nadaljnjih vprašanjih se je razpravljalo na srečanjih s predstavniki nemških organov 26. junija 2003.
Following a renewed Commission request, Germany provided additional information on 29 August 2003.
Nemčija je po vnovični prošnji Komisije predložila dodatne informacije 29. avgusta 2003.
The Commission decision to initiate the procedure was published on 4 April 2003 in the Official Journal of the European Union .The Commission called on interested parties to submit comments.
Sklep Komisije o sprožitvi postopka je bil 4. aprila 2003 objavljen v Uradnem listu Evropske unije, da bi se zainteresiranim strankam omogočilo, da izrazijo svoja stališča.
It received comments from the BdB, which it forwarded to Germany for its opinion.
Komisija je nato prejela pripombe BdB, ki jih je posredovala Nemčiji, da poda svoje mnenje.
Germany replied by letter of 30 October 2003.
Nemčija je 30. oktobra 2003 predložila pripombe na ugotovitve BdB.
By letter of 7 April 2004, the Commission requested further information from Germany on all the Landesbank transfers, receiving replies on 1, 2 and 28 June 2004.
Komisija je v pismu z dne 7. aprila 2004 Nemčijo zaprosila za nadaljnje informacije o postopkih v primerih vseh deželnih bank in prejela odgovore v pismih z dne 1., 2. in 28 junija 2004.
On 1 October 2004 Germany provided updated figures and additional information.
Nemčija je 1. oktobra 2004 predložila posodobljene podatke in dodatne informacije.
Following the merger between HLB and Landesbank Schleswig-Holstein-Girozentrale (‘LSH’) creating HSH Nordbank AG (‘HSH’) on 2 June 2003, the WK shares received by HLB were transferred back to FHH.
Po združitvi HLB z LSH v HSH Nordbank dne 2. junija 2003 se je delež WK, ki ga je prejela HLB, prenesel nazaj na FHH.
On 19 July 2004 the complainant BdB, the Land of North Rhine-Westphalia and WestLB notified a provisional understanding concerning the appropriate remuneration for the transferred assets.
julija 2004 so pritožnik BdB, Severno Porenje-Vestfalija in WestLB predložili začasni dogovor o primernem nadomestilu za prenesena sredstva.
The definitive version of the understanding reached the Commission on 13 October 2004.
Končno različico tega dogovora je Komisija prejela 13. oktobra 2004.
On 29 September 2004 BdB, FHH and HSH Nordbank, which resulted from the merger of HLB and Landesbank Schleswig-Holstein in 2003, also reached a provisional understanding on the appropriate remuneration for the special-purpose assets transferred.
Poleg tega so BdB, FHH in HSH Nordsbank, nastala z združenjem HLB in Landesbank Schleswig-Holstein leta 2003, 29. septembra 2004 predložili začasni dogovor o primernem nadomestilu za prenesena sredstva za posebne namene.
The definitive version of the understanding on the transfer of the special-purpose assets to HLB reached the Commission on 14 October 2004.
Končno različico dogovora o prenosu sredstev za posebne namene na HLB je Komisija prejela 14. oktobra 2004.
At the time of the transfer, HLB was a public-law institution that had been set up by decree in 1938.
HLB je bila v času prenosa javnopravna institucija, ustanovljena z odredbo leta 1938.
This decree was replaced in 1993 by the Hamburgische Landesbank — Girozentrale Act, which was amended in 1997 in connection with the partial sale to ‘LSH’.
Odredbo je leta 1993 zamenjal Zakon o Hamburgische Landesbank – Girozentrale, ki se je leta 1997 spremenil v povezavi z delno prodajo banki Landesbank Schleswig-Holstein Girozentrale („LSH“).
Up to that point, FHH had been the sole shareholder in HLB as well as its sponsor and guarantor.
Do takrat je bila FHH edina delničarka HLB, pa tudi njena pokroviteljica in garant.
In 1997 LSH, alongside FHH, became a shareholder in HLB.
Leta 1997 je poleg FHH delničarka HLB postala tudi LSH.
Each had a 49,5 % shareholding in HLB.
Vsaka je imela pri HLB delež, ki je znašal 49,5 %.
In addition, HLB-Beteiligungsgesellschaft mbH (‘HLB-BG’), which is controlled by FHH and the holding company Hamburger Gesellschaft für Beteiligungsverwaltung mbH (‘HGV’), owns a de facto share of 1 % via an atypical silent partnership.
Poleg tega je imela HLB-Beteiligungsgesellschaft mbH („HLB-BG“), ki je pod nadzorstvom FHH in holding podjetja Hamburger Gesellschaft für Beteiligungsverwaltung mbH („HGV“), prek neznačilne tihe družbe 1 % dejanski delež.
On 2 June 2003 (for tax and balance-sheet purposes, 1 January 2003) HLB and LSH merged to form HSH.
junija 2003 (zaradi davkov in bilance stanja 1. januarja 2003) je z združitvijo HLB in LSH nastala HSH Nordbank AG.
The owners are FHH with over 35 %, the Land of Schleswig-Holstein with just under 20 %, WestLB with just under 27 % and the Sparkassen- und Giroverband Schleswig-Holstein with over 18 %.
Lastniki so FHH z več kot 35 %, dežela Schleswig-Holstein s skoraj 20 %, WestLB s skoraj 27 % in Sparkassen- und Giroverband Schleswig-Holstein z več kot 18 %.
With a balance-sheet total of some EUR 180 billion and some 4500 employees in all, HSH is today one of the larger credit institutions in Germany.
Z združitvijo nastala banka je z bilančno vsoto okoli 180 milijard EUR in skupno približno 4500 zaposlenimi danes ena izmed največjih kreditnih institucij v Nemčiji.
When the two transfers took place, HLB had a balance-sheet total of DEM 36,5 billion (1986) and just under DEM 60 billion (1992).
V času obeh prenosov je bilančna vsota HLB znašala 36,5 milijard DEM (1986) oziroma skoraj 60 milijard DEM (1992).
In 2002, the year preceding the merger creating HSH, HLB had a group balance-sheet total of just under EUR 93 billion and an own-funds ratio of 11 %.
Leta 2002, leto dni pred združitvijo v HSH Nordbank, je bilančna vsota koncerna HLB znašala skoraj 93 milijard EUR (koncern), delež lastnih sredstev pa 11 %.
That same year it had 2700 employees at group level.
Tega leta je imela banka na ravni koncerna 2700 zaposlenih.
As a state-owned bank, HLB took charge of FHH's banking business and that of its public and private legal persons.
HLB je kot državna banka prevzela skrb za bančne posle FHH ter njenih javnih in zasebnih pravnih oseb.
As a commercial bank, HLB was active especially in the areas of shipping and real estate finance, corporate and private customer business and international capital market business.
Kot poslovna banka je bila dejavna predvsem na področju financiranja ladij in nepremičnin, poslovanja podjetij in fizičnih oseb ter mednarodnega poslovanja na trgu kapitala.
In the field of shipping finance, HSH describes itself as the world leader.
Na področju financiranja ladij se HSH Nordbank predstavlja kot trenutno najboljša ponudnica na svetu.
TRANSFER OF WK SHARES TO HLB
PRENOS DELNIC WK NA HLB
Under Article 1 of the Act amending the sponsorship of the Hamburgische Wohnungsbaukreditanstalt of 1 July 1986, FHH transferred 24 % of WK's equity and special capital to HLB with effect from 1 January 1986.
V skladu s členom 1 „Zakona o spremembi pokroviteljstva Hamburgische Wohnungsbaukreditanstalt“ z dne 1. julija 1986 je FHH z začetkom veljavnosti 1. januarja 1986 prenesla 24 % osnovnega in posebnega kapitala WK na HLB.
According to the relevant contract of 10 July 1986 concluded between FHH and HLB, this was done as a means of increasing the latter's capital.
Po dogovoru med FHH in HLB, sklenjenem 10. julija 1986, je bil ta dogovor izveden tako, da se je povečal kapital.
In accordance with the Act increasing the capital of Hamburgische Landesbank — Girozentrale of 22 December 1992, FHH transferred with effect from 1 January 1993 a further 38 % of its shares in WK to HGV and the remaining shares (a further 38 %) directly to HLB.
V skladu z „Zakonom o povečanju kapitala Hamburgische Landesbank – Girozentrale“ z dne 22. decembra 1992 je FHH z začetkom veljavnosti 1. 1. 1993 prenesla še 38 % svojih delnic pri WK na HGV, preostale delnice, še 38 %, pa neposredno na HLB.
The FHH holding HGV in turn acquired an interest in HLB in the form of a typical silent partnership contribution with 19,86 % of the shares transferred to it.
FHH- holding podjetje HGV je bilo nato pri HLB udeleženo v obliki običajne vloge tihe družbe z 19,86 % nanj prenešenih delnic.
Consequently, according to the information supplied by Germany, FHH transferred 81,86% of its shares in WK to HLB, some directly, some indirectly.
FHH je torej po navedbah Nemčije prenesla skupno 81,86 % svojih delnic pri WK na HLB, nekatere neposredno, druge posredno.
The transfer contract of 22 December 1992 also provided for a call option whereby FHH could at any time demand that the Landesbank transfer the WK shares transferred directly to it either to FHH itself or to a third-party designated by it.
Pogodba o prenosu z dne 22. decembra 1992 je predvidela tudi nakupno opcijo. FHH je torej lahko kadar koli zahtevala, da deželna banka delnice WK, ki jih je prejela neposredno, prenese nanjo ali na tretjo stranko, imenovano z njene strani.
This option also included the right to receive back the shares transferred in 1986 (cf. a so-called ‘side letter’ of 22 December 1992).
Ta opcija je vključevala tudi pravico za povratni prenos delnic, prenesenih leta 1986, kar je bilo določeno s tako imenovanim spremnim pismom z dne 22. decembra 1992.
In the event of such a reassignment, payment would be based on the value of the WK shares as determined by an expert valuation for the financial year prior to the reassignment.
V primeru povratnega prenosa mora plačilo temeljiti na vrednosti delnic WK, strokovno določeni za poslovno leto pred povratnim prenosom.
In an addendum adopted on 21 April 1997 to the contract of 22 December 1992, it was laid down that, in the event of a reassignment, any increase in undisclosed reserves brought about by a readjustment of the WK aid scheme would accrue not to HLB but to FHH.
V dodatku k pogodbi z dne 22. decembra 1992, sprejetem 21. aprila 1997, je bilo določeno, da v primeru povratnega prenosa do povečanja skritih rezerv zaradi prilagoditve sistema pomoči ne pride pri HLB temveč pri FHH.
The German Banking Act (Kreditwesengesetz — KWG) has been amended in line with Council Directive 89/647/EEC on a solvency ratio for credit institutions (the ‘Solvency Directive’) and Council Directive 89/299/EEC on the own funds of credit institutions (the ‘Own Funds Directive’), which require banks to have own funds equivalent to 8 % of their risk-adjusted assets.
V skladu z Direktivo Sveta 89/647/EGS z dne 18. decembra 1989 o stopnji solventnosti kreditnih institucij (v nadaljevanju „Direktiva o solventnosti“) in Direktivo Sveta 89/299/EGS z dne 17. aprila 1989 o lastnih virih sredstev kreditnih institucij (v nadaljevanju „Direktiva o lastnih virih sredstev“), po katerih je bil spremenjen Zakon o bančništvu („KWG“), banke razpolagajo z rizičnim kapitalom v višini 8 % svoje tveganju prilagojene tehtane aktive.
At least 4 percentage points of this amount must consist of what is termed core capital, or ‘tier I’ capital, meaning items of capital which are at the credit institution's disposal without restriction and immediately to cover risks or losses as soon as they arise.
Vsaj štiri odstotne točke morajo predstavljati tako imenovani temeljni kapital (kapital „razreda 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 II’ 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 za nadzorne namene odločilnega pomena, saj se dodatni kapital (kapital „razreda 2“) za kritje tveganega poslovanja banke prizna le v višini razpoložljivega temeljnega kapitala.
German banks had to adapt their own funds to the new requirements of the Solvency Directive and the Own Funds Directive by 30 June 1993.
Nemške banke so morale do 30. junija 1993 svoj rizični kapital uskladiti z novimi zahtevami Direktive o solventnosti in Direktive o lastnih virih sredstev.
However, because the budgetary situation was tight, public shareholders were unable to provide any fresh capital, but neither were they prepared to privatise and to raise additional capital on the capital markets.
Zaradi tesnega proračunskega stanja pa javni delničarji niso mogli zagotavljati svežega kapitala in po drugi strani niso hoteli privatizirati ter zbirati dodatnega kapitala na trgih kapitala.
The public banks thus decided to undertake asset and capital transfers: in the case of WestLB, the assets of the WfA and, in the case of HLB, the aforementioned WK shares, which were transferred to HLB's capital reserves and silent partnership reserve.
Zato so se javne banke odločile za prenose sredstev oziroma kapitala, na primer v primeru WestLB sredstev stanovanjske organizacije Wohnungsbauförderungsanstalt dežele Severno Porenje-Vestfalija („WfA“) ter v primeru HLB prej navedenih delnic WK, ki so se prenesle v kapitalske rezerve in rezervo tihe družbe HLB.
EFFECTS OF THE TRANSFER ON LBB'S CAPITAL BASE
POSLEDICE PRENOSA ZA OBSEG LASTNEGA KAPITALA HLB
The reason for the transfers was indicated as being capital requirements and/or a need to improve capital resources for the purpose of expanding HLB's business.
Prenosi so bili utemeljeni s potrebo po kapitalu ali povečanju obsega kapitala z namenom širjenja dejavnosti HLB.
The transfer of WK shares presented the advantage of allowing this to happen without the need for an additional capital contribution from FHH's budget.
Prenos delnic WK je predstavljal prednost, saj je to omogočal, ne da bi bila potrebna dodatna kapitalska vloga iz proračuna FHH.
Back in the 1980s, business expansion had given rise to a steadily growing need for capital.
Širjenje dejavnosti je že v 80-letih prejšnjega stoletja pomenilo nenehno naraščajočo potrebo po kapitalu.
According to the available information, the bank therefore regularly transferred part of its balance-sheet profit to its interest-bearing share capital.
Banka je zato po razpoložljivih informacijah sprva redno odvajala del bilančnega dobička v obrestovan osnovni kapital.
However, since this was clearly insufficient, FHH decided as early as 1986 to contribute 24 % of its WK shares (DEM 212,16 million) to HLB.
Ker pa to očitno ni zadostovalo, se je FHH že leta 1986 odločila, da vloži 24 % svojih delnic WK (212,160 milijonov DEM) v HLB.
At the beginning of the 1990s, a further increase in HLB's equity capital was urgently required in view of the fourth amendment to the German Banking Act (‘KWG’) since HLB would have otherwise failed to comply with the new capital requirements laid down.
V začetku 90-ih let prejšnjega stoletja je bilo nato glede na 4. novelo Zakona o bančništvu („KWG“) nujno potrebno dodatno povečanje lastnega kapitala HLB, saj HLB sicer ne bi izpolnjevala novih kapitalskih zahtev.