natgillin/translations-raw huggingface dataset:
With a group balance-sheet total of EUR 193000 million (at 31 December 2003), it is one of Germany's largest banks.
Njena skupna bilančna vsota znaša približno 193 milijard eurov (31. decembra 2003), kar jo uvršča med največje nemške banke.
NordLB currently employs around 9500 staff.
V NordLB je trenutno zaposlenih 9500 ljudi.
NordLB was formed in 1970 by the union of four publicly owned credit institutions (Niedersächsische Landesbank, Braunschweigische Staatsbank (including Braunschweigische Landessparkasse), Hannoversche Landeskreditanstalt and Niedersächsische Wohnungskreditanstalt-Stadtschaft).
NordLB je nastala leta 1970 z združitvijo štirih kreditnih institucij v javni lasti (Niedersächsische Landesbank, Braunschweigische Staatsbank skupaj z Braunschweigische Landessparkasse, Hannoversche Landeskreditanstalt in Niedersächsische Wohnungskreditanstalt-Stadtschaft).
When the capital transfer under investigation took effect, 60 % of NordLB by the Land of Lower Saxony and 40 % by NSGV, a public-law corporation.
Ob začetku veljavnosti zadevnega preiskovanega prenosa kapitala je bilo 60 % NordLB v lasti dežele Spodnja Saška in 40 % v lasti javne družbe Niedersächsische Sparkassen- und Giroverband („NSGV“).
Under two State Treaties of 1991 and 1992, the Länder of Lower Saxony, Saxony-Anhalt and Mecklenburg-Western Pomerania agreed to operate NordLB as a joint Land institution.
Z državnima pogodbama iz leta 1991 in 1992 so se dežele Spodnja Saška, Saška-Anhalt in Mecklenburg-Pomorjansko dogovorile, da bodo NordLB upravljale kot skupno deželno institucijo.
With effect from 12 January 1993, the ownership and guarantor structure was altered as follows: Land of Lower Saxony 40 %, NSGV 26,66 %, Land of Saxony-Anhalt 10 %, Land of Mecklenburg-Western Pomerania 10 %, Sparkassenbeteiligungsverband Sachsen-Anhalt (‘SBV’) 6,66 %, and Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern (‘SZV’) 6,66 %.
Z dnem 12. januarja 1993 se je spremenila lastniška in jamstvena struktura, ki se glasi: Spodnja Saška 40 %, NSGV 26,66 %, Saška-Anhalt 10 %, Mecklenburg-Pomorjansko 10 %, Sparkassenbeteiligungsverband Saška-Anhalt („SBV“) 6,66 %, Sparkassen-beteiligungszweckverband Mecklenburg-Pomorjansko („SZV“) 6,66 %.
Under the terms of its articles of association, NordLB is required to operate as a Land bank, a central savings bank and a commercial bank.
NordLB mora po svojem statutu opravljati naloge deželne banke, centralne hranilnice in poslovne banke.
It may also engage in any other business that serves the purposes of the bank, its owners and the municipal corporations in the Länder.
Ukvarja se lahko tudi s kakršnimi koli drugimi posli, ki služijo namenu banke, njenih lastnikov in občinskih družb v zadevnih deželah.
In the Braunschweig area it operates as a savings bank.
V območju Braunschweiga deluje NordLB kot hranilnica.
NordLB offers financial services to private customers, businesses, institutions and public authorities and is an important player on international capital markets, both for its own account and as manager of other issuers' debt instruments.
NordLB ponuja finančne storitve fizičnim osebam, podjetjem, institucijam in javnim organom in je pomemben akter na mednarodnih trgih kapitala tako za svoj račun kot za dolžniške instrumente drugih izdajateljev.
Like many German all-purpose banks, NordLB holds a number of stakes in financial and non-financial enterprises.
Kot številne druge nemške splošne banke tudi NordLB poseduje številne delnice v finančnih institucijah in drugih podjetjih.
NordLB has a presence in the world’s major financial and trading centres.
NordLB je prisotna v najpomembnejših finančnih in trgovskih središčih sveta.
It has a stock-exchange office in Frankfurt, branches in London, New York, Singapore, Stockholm, Helsinki and Shanghai, representative offices in Oslo, Tallinn and Beijing and subsidiaries in London, Zürich, Luxembourg, Riga, Vilnius and Warsaw.
Banka ima borzno hišo v Frankfurtu, poslovalnice v Londonu, New Yorku, Singapurju, Stockholmu, Helsinkih in Šanghaju, predstavništva v Oslu, Talinu in Pekingu, ter hčerinska podjetja v Londonu, Zürichu, Luksemburgu, Rigi, Vilni in Varšavi.
In 2003 NordLB’s equity ratio was 11,5 % at institutional level and 10,1 % at group level; its core-capital ratio was 7,1 % at institutional level and 6,3 % at group level.
Leta 2003 je delež lastnih sredstev NordLB znašal 11,5 % na institucionalni ravni, 10,1 % na skupni ravni; delež temeljnega kapitala je bil 7,1 % na institucionalni ravni in 6,3 % na skupni ravni.
Its income-to-equity ratio stood at [...] % in 2003.
Donosnost lastnega kapitala je bila leta 2003 [...] %.
LAND TRUST AGENCIES (‘LTS’)
DEŽELNE FIDUCIARNE AGENCIJE (LTS)
In 1948 the Land of Lower Saxony set up a trust agency with the task of promoting social housing.
Dežela Spodnja Saška je leta 1948 ustanovila fiduciarno agencijo (Treuhandstelle), katere naloga je bila pospeševanje gradnje socialnih stanovanj.
On the basis of a ‘trustee agreement’ between the Land and NordLB, the bank took over the administration of the promotion-related assets and the tasks carried out by the trust agency.
NordLB je na podlagi ene od tako imenovanih fiduciarnih pogodb med Spodnjo Saško in NordLB prevzela upravljanje sredstev za pospeševanje in nalog fiduciarne agencije.
On the basis of this and two other, similar trustee agreements, NordLB became the owner — in legal but not in financial terms — and the trustee administrator of the assets for promoting housing, agriculture and industry on the Land’s behalf.
Na podlagi te in še dveh podobnih fiduciarnih pogodb je NordLB v deželi postala lastnica – v pravnem, a ne finančnem smislu – in fiduciarna upraviteljica sredstev za pospeševanje gradnje stanovanj, kmetijstva in industrije.
It granted promotional loans in its own name, but on the Land’s financial account.
Posojila za pospeševanje je dodeljevala v svojem imenu, a na finančnem računu Spodnje Saške.
The three LTS are not legally independent but are managed within NordLB as autonomous and — in operational, personnel and organisational terms — separate business divisions.
Skupno tri fiduciarne agencije niso pravno neodvisne, v okviru NordLB pa so vodene kot samostojni, v obratovalnem, kadrovskem in organizacijskem smislu ločeni resorji.
The three LTS are exempt from corporation tax, property tax and tax on business capital.
Oproščene so davka od dobička pravnih oseb, obratovalnega davka in davka od premoženja.
The Land housing trust agency (LTS-Wohnungswesen) manages assets specifically earmarked for housing and Land guarantees for the promotion of housing construction.
LTS za stanovanjsko gospodarjenje (LTS-Wohnungswesen) upravlja sredstva, namenjena za gradnjo stanovanj, in deželna jamstva za pospeševanje gradnje stanovanj.
In particular, it promotes the construction and modernisation of owner-occupied homes and rented homes and the purchase and acquisition of owner-occupied homes.
Pospešuje zlasti novogradnjo in modernizacijo lastniških in najemniških stanovanj ter nakup in pridobivanje lastniških stanovanj.
The Land agriculture trust agency (LTS-Agrar) administers public loans and grants to promote agriculture, in particular agricultural investment and forestry measures.
LTS za kmetijstvo (LTS-Agrar) upravlja javna posojila in subvencije za pospeševanje kmetijstva, zlasti za kmetijske naložbe in ukrepe v gozdarstvu.
The Land industry trust agency (LTS-Wirtschaft) issues and administers loans and grants for the promotion of industry, specialising in investment by small and medium-sized enterprises and in business start-ups.
LTS za industrijo (LTS-Wirtschaft) dodeljuje in upravlja posojila in subvencije za pospeševanje industrije, zlasti za naložbe majhnih in srednje velikih podjetij in ustanavljanje podjetij.
It looks after the EU’s Interreg Initiative and is recognised as a financial intermediary under the Joint European Venture (JEV).
Skrbi za pobudo Evropske skupnosti INTERREG in je priznan kot finančni posrednik v okviru Skupnih evropskih naložb (Joint European Venture – JEV).
CAPITAL REQUIREMENTS UNDER THE OWN FUNDS DIRECTIVE
KAPITALSKE ZAHTEVE V SKLADU Z DIREKTIVO O LASTNIH VIRIH SREDSTEV
The German Banking Act (Kreditwesengesetz, or KWG) was amended in line with Council Directive 89/647/EEC of 18 December 1989 on a solvency ratio for credit institutions (the ‘Solvency Directive’) and Council Directive 89/299/EEC of 17 April 1989 on the own funds of credit institutions (the ‘Own Funds Directive’), which require banks to have a level of own funds equal to 8 % of their risk-adjusted assets, of which at least four percentage points must consist of what is termed core capital, or ‘tier I’ 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.
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. Vsaj štiri odstotne točke morajo predstavljati tako imenovani temeljni kapital (kapital „razred 1“), ki zajema postavke kapitala, ki so neomejeno in neposredno na razpolago kreditni instituciji pri odkrivanju tveganj in izgub, takoj ko se 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 „razred 2“) za kritje tveganega poslovanja banke prizna le v višini razpoložljivega temeljnega kapitala.
By 30 June 1993 German banks had to adapt their own funds to the new requirements of the Solvency Directive and the Own Funds Directive.
Nemške banke so morale do 30. junija 1993 svoj rizični kapital uskladiti z novimi zahtevami Direktive o solventnosti in Direktivi o lastnih virih sredstev.
The own-funds cushion of many Landesbanks was comparatively small even before transposal of the Solvency Directive into German law.
Številne deželne banke so pred vključitvijo Direktive o solventnosti v nemško zakonodajo razpolagale z razmeroma majhnim rizičnim kapitalom.
They now had to strengthen their own-funds base as a matter of urgency in order to avoid restrictions on their business expansion or at least to maintain their current level of activities.
Zadevne kreditne institucije so morale zato nujno povečati lastni kapital, da bi preprečile omejitev širjenja dejavnosti ali vsaj zadržale svojo obstoječo raven dejavnosti.
However, because the budgetary situation was tight, the public shareholders were unable to provide any fresh capital but were not prepared to contemplate privatisation and to raise additional capital on 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.
It was therefore decided to undertake transfers of assets and capital: for example, in WestLB's case the assets of WfA and in NordLB’s case the above-mentioned promotion-related assets of the three LTS.
Zato je prišlo do odločitve za prenose sredstev oziroma kapitala, na primer v primeru WestLB sredstev stanovanjske organizacije Wohnungsbauförderungsanstalt dežele Severno Porenje-Vestfalija („WfA“) ter v primeru NordLB zgoraj navedenih sredstev za pospeševanje treh LTS.
TRANSFER OF THE LTS AND ITS EFFECTS
PRENOS LTS IN NJEGOVE POSLEDICE
By the Act on the contribution of the promotion-related assets of the Land of Lower Saxony to the liable equity capital of Norddeutsche Landesbank — Girozentrale, adopted by the Lower Saxony Parliament on 17 December 1991, the Land’s Finance Ministry was empowered to transfer at their market value the Land’s shares of the promotion-related assets of the three LTS to NordLB as equity capital.
Deželno finančno ministrstvo je z Zakonom o prenosu sredstev dežele Spodnje Saške za pospeševanje na rizični lastni kapital banke Norddeutsche Landesbank – Girozentrale, ki ga je 17. decembra 1991 sprejel parlament Spodnje Saške, dobilo pooblastilo, da po tržni vrednosti prenese delež dežele pri sredstvih za pospeševanje treh LTS na NordLB kot lastni kapital.
The Land also undertook to maintain the total market value of the transferred assets at not less than DEM 1500 million.
Spodnja Saška pa se je hkrati zavezala, da bo zadržala skupno tržno vrednost prenesenih sredstev na najmanj 1,5 milijarde DEM.
On the basis of this Act, the Land of Lower Saxony and NordLB concluded a transfer agreement on 20 December 1991 by which the Land transferred to NordLB as liable equity capital its entire shares of the respective promotion-related assets.
Na podlagi tega zakona sta dežela Spodnja Saška in NordLB 20. decembra 1991 sklenili sporazum o prenosu, v skladu s katerim je Spodnja Saška svoj celoten delež pri zadevnih sredstvih za pospeševanje kot rizični lastni kapital prenesla na NordLB.
The purpose of transferring the assets was to increase by DEM 1500 million the equity capital of NordLB recognised for supervisory purposes.
Namen prenosa sredstev za pospeševanje je bil za 1,5 milijarde DEM povečati lastni kapital NordLB, priznan za nadzorne namene.
VALUE OF THE LTS
VREDNOST LTS
On 21 February 1992 NordLB charged the audit firm Treuarbeit AG with the task of determining the value of the transferred assets at 31 December 1991.
NordLB je 21. februarja 1992 zadolžila revizijsko podjetje Treuarbeit AG, da opredeli vrednost sredstev, prenesenih do 31. decembra 1991.
Treuarbeit AG concluded that the total value of the assets transferred came to DEM 1754 million and confirmed that the special-purpose reserve of DEM 1500 million, formed in connection with the transfer and shown on NordLB’s balance sheet at 31 December 1991 as equity capital, should be regarded as containing value.
To je ugotovilo, da znaša skupna vrednost prenesenih sredstev 1,7544 milijarde DEM, ter potrdilo, da se mora rezerva za posebne namene v višini 1,5 milijarde, oblikovana v povezavi s prenosom in 31. decembra 1991 v bilanci stanja NordLB vknjižena kot lastni kapital, obravnavati kot vsebovana vrednost.
The value of the assets transferred to NordLB by the Land of Lower Saxony is continually updated.
Vrednost sredstev, ki jih na NordLB prenaša dežela Spodnja Saška, se določa sproti.
The table below shows the values established up to the end of 2003:
Spodnja tabela prikazuje vrednosti, določene do konca leta 2003.
Value (DEM million)
Vrednost v milijonih DEM
On the basis of Treuarbeit AG's report, NordLB applied to the German Banking Supervisory Authority (Bundesaufsichtsamt für das Kreditwesen — ‘BAKred’) on 26 February 1992 asking for the special-purpose reserve of DEM 1500 million to be recognised for supervisory purposes as liable equity capital within the meaning of the second sentence of Section 10(2) KWG.
NordLB je na podlagi strokovnega poročila Treuarbeit AG26. februarja 1992 zaprosila nemški bančni nadzorni organ (Bundesaufsichtsamt für das Kreditwesen -„BAKred“), da prizna rezervo za posebne namene v višini 1,5 milijarde DEM kot rizični lastni kapital v skladu z drugim stavkom poglavja 10(2) KWG.
On 26 July 1993 BAKred provisionally recognised the DEM 1500 million as liable equity capital. In response to a request by BAKred, the Land of Lower Saxony again confirmed its undertaking to maintain the value of the promotion-related assets at not less than DEM 1500 million.
BAKred je 26. julija 1993 začasno priznal 1,5 milijarde DEM kot rizični temeljni kapital.
On 22 November 1993 BAKred finally gave notice that it was withdrawing its initial reservations regarding the value of the special-purpose reserve.
Potem ko je dežela Spodnja Saška na željo BAKred-a ponovno potrdila svojo zavezo, da bo zadržala vrednost sredstev za pospeševanje na najmanj 1,5 milijarde DEM, je BAKred 22. novembra 1993 končno sporočil, da je umaknil svoje začetne pomisleke glede vrednosti rezerv za posebne namene.
Before formally recognising the promotion-related assets of the LTS as core capital, BAKred allowed them to be used to cover liabilities, in so far as was necessary to comply with the solvency rules in force at the time.
Še preden je BAKred uradno priznal sredstva LTS za pospeševanje kot temeljni kapital, je dopustil njihovo uporabo za kritje jamstva v tolikšni meri, da so bili izpolnjeni takrat veljavni predpisi o solventnosti.
From the time of the transfer, the sum of DEM 1500 million was shown under NordLB’s equity capital as a combined special-purpose reserve, while the difference vis-à-vis the value of the assets was booked as a provision for commitments arising from the transfer agreement.
Po prenosu se je znesek 1,5 milijarde DEM prikazoval v okviru lastnega kapitala NordLB kot skupna rezerva za posebne namene, razlika do vrednosti sredstev pa se je knjižila kot rezervacija za obveznosti iz sporazuma o prenosu.
Germany has stated that each year around DEM 100 million of the assets transferred was required to underpin promotion-related business.
Nemčija je navedla, da je bilo vsako leto potrebnih približno 100 milijonov DEM prenesenih sredstev za kritje dejavnosti za pospeševanje.
All the remaining assets were available to NordLB to underpin its competitive business from the time when BAKred granted its recognition.
NordLB je imela po priznanju BAKred-a preostala sredstva na razpolago za kritje konkurenčnih dejavnosti.
Until BAKred granted its final recognition, only the portion of the assets that was actually necessary to comply with solvency rules was available for competitive business.
Pred priznanjem BAKred-a je bil za konkurenčne dejavnosti na razpolago le del sredstev za pospeševanje, ki je bil dejansko potreben za izpolnjevanje predpisov o solventnosti.
In detail, the following amounts were available for competitive business:
Za konkurenčne dejavnosti so bili na razpolago naslednji natančni zneski:
Value of assets available for competitive business, according to Germany (DEM million)
Vrednost sredstev, ki so bila po navedbah Nemčije na razpolago za konkurenčne dejavnosti, v milijonih DEM
Mai
Maj
0July
0Julij
0August
0Avgust
0October
0Oktober
Irrespective of the use to which the assets may be put for the purposes of banking supervision, NordLB is committed by agreement to inform the Land before the beginning of each business year how much of the LTS promotion-related assets it plans to use (‘earmarking of capital’).
NordLB je ne glede na možnost uporabe sredstev za nadzorne namene v skladu s sporazumom zavezana, da pred začetkom vsakega poslovnega leta deželo Spodnjo Saško obvesti o tem, koliko sredstev LTS za pospeševanje namerava porabiti (tako imenovana rezervacija kapitala).
For 1992 NordLB notified the use of DEM 180 million.
Za leto 1992 je najavila uporabo 180 milijonov DEM.
For 1993 the figure was DEM 1400 million.
Za leto 1993 je rezervirala 1,4 milijarde DEM.
Since 1994 the amount of capital notified to the Land has coincided with the maximum value available for competitive business (the different amounts totalling DEM 1500 million were needed for promotion-related activities).
Po letu 1994 znesek kapitala, o katerem je bila obveščana Spodnja Saška, sovpada z največjo vrednostjo, ki je bila na razpolago za konkurenčne dejavnosti (razlika do 1,5 milijarde DEM se je porabila za dejavnosti za pospeševanje).
Earmarked capital (DEM million)
Rezerviran kapital v milijonih DEM
EFFECTS OF THE TRANSFER OF THE LTS ASSETS ON NORDLB
POSLEDICE PRENOSA SREDSTEV LTS ZA POSPEŠEVANJE NA NORDLB
Germany states that, as at 31 December 1991, NordLB had core capital of DEM 2043 million and additional capital of DEM 543 million.
NordLB je imela po navedbah Nemčije 31. decembra 1991 temeljni kapital v višini 2,043 milijarde DEM in dodatni kapital v višini 543 milijonov DEM.
The promotion-related assets of DEM 1500 million therefore increased the total equity capital base of DEM 2586 million by 58 %.
Sredstva za pospeševanje v višini 1,5 milijarde DEM so torej povečala lastni kapital, ki je takrat znašal 2,586 milijarde DEM, za 58 %.
The scope for business expansion using 100 % risk-adjusted assets was increased by a factor of 12,5, i.e. by around DEM 17500 million.
Možnost širjenja dejavnosti z uporabo 100 % tveganju prilagojene tehtane aktive se je povečala s faktorjem 12,5, t.j. za približno 17,5 milijarde DEM.
In reality, however, an increase in own funds of around DEM 1400 million can expand the permissible credit volume by much more, as a bank's assets are normally not 100 % risk-adjusted.
Vendar pa dejansko lahko povečanje lastnih sredstev za približno 1,4 milijarde DEM dovoljen obseg kreditiranja razširi v veliko večji meri, saj aktiva banke običajno ni 100 % prilagojena tehtani tvegani aktivi.
Since the increase in core capital allowed NordLB to raise further additional capital, there was an even greater indirect increase in its actual lending capacity.
Ker je povečanje temeljnega kapitala banki NordLB omogočilo, da še poveča dodatni kapital, je prišlo do še večjega neposrednega povečanja njene sposobnosti kreditiranja.
REMUNERATION FOR THE TRANSFER OF THE LTS
NADOMESTILO ZA PRENOS LTS
Under Section 7(1) of the transfer agreement of 20 December 1991, a remuneration of 0,5 % per annum after tax was agreed for the transfer of the promotion-related assets of all three LTS.
V poglavju 7(1) sporazuma o prenosu z dne 20. decembra 1991 je dogovorjeno letno nadomestilo 0,5 % po obdavčitvi za prenos sredstev za pospeševanje vseh treh LTS.
The remuneration is payable each subsequent year.
Nadomestilo se izplača vsako naslednje leto.
In this context NordLB must determine the amount of remuneration for the following business year by 31 January.
NordLB mora pri tem do 31. januarja določiti znesek nadomestila za naslednje poslovno leto.
According to the terms of the agreement, the rate of remuneration is based on the notified use of the reserves formed pursuant to the transfer agreement, i.e. only on the capital actually earmarked.
Obrestna mera za nadomestilo po določbah sporazuma temelji na priglašeni uporabi rezerv, oblikovanih v skladu s sporazumom o prenosu, t.j. samo na „rezerviranem“ kapitalu.
Accordingly, the following amounts have been paid:
V skladu s tem so se izplačali naslednji zneski:
Remuneration paid (DEM million)
Izplačano nadomestilo v milijonih DEM
Under the transfer agreement, the Land of Lower Saxony also has the right to withdraw interest payments and amortisations that flow back to the promotion-related assets, in so far as the market value of the assets exceeds DEM 1500 million.
Dežela Spodnja Saška ima po sporazumu o prenosu tudi pravico za pridobitev izplačila obresti in amortizacij, ki se iztekajo nazaj v sredstva za pospeševanje, če tržna vrednost sredstev za pospeševanje preseže 1,5 milijarde DEM.
Germany stated that, up to March 2003, a total of DEM 473,88 million (EUR 242,29 million) was withdrawn, which, it argues, corresponds to an interest premium of around 2,79 %-2,85 % per annum on top of the agreed 0,5 % per annum.
Po navedbah Nemčije je do marca 2003 dobila skupno 473,88 milijona DEM (242,29 milijona EUR). To naj bi po njenem mnenju predstavljalo povečanje dogovorjene letne obrestne mere 0,5 % za približno 2,79-2,85 %.
CAPITAL CONTRIBUTIONS BY THE OTHER SHAREHOLDER (NSGV)
PRENOSI KAPITALA DRUGEGA DELNIČARJA (NSGV)