natgillin/translations-raw huggingface dataset:
In particular the divestments implemented or to be implemented indeed help to finance the restructuring costs and address competition concerns identified by the Commission.
Predvsem izvedene in načrtovane dezinvesticije dejansko prispevajo k financiranju stroškov prestrukturiranja in odpravijo pomisleke Komisije v zvezi s konkurenco.
First, several measures affect the Bank's core business.
Na osnovno dejavnost banke vpliva več ukrepov.
In the credit business with public authorities, where BAWAG-PSK has held its […] market share (25 % in 2005), a reduction by […] (EUR […] billion) of the volume of its loans to the Republic of Austria will be achieved in […], leading to a maximum value of EUR […] billion. Furthermore, the ceiling of EUR […] billion will be maintained until […] [50].
Na področju kreditnega poslovanja z javnimi organi, na katerem je imel BAWAG-PSK tržni delež v višini […] (25 % v letu 2005), bo banka do konca leta […] zmanjšala obseg posojil vladi (Republiki Avstriji) za […] ([…] milijard EUR) na največ […] milijard EUR. Ta zgornja meja v višini […] milijard EUR do leta […] ne bo presežena [50].
In addition, the Bank, which is one important ‘Primary Dealer’ of State bonds issued by the Republic of Austria, has undertaken not to participate in tender proceedings from […], for a period of […] ending on […].
Poleg tega se je banka, ki je bila pomemben primarni vpisnik državnih obveznic, ki jih je izdala Avstrija, odpovedala udeležbi na razpisih za obdobje […], od […] do […].
This measure prevents BAWAG-PSK from participating to bids amounting to an estimated total of around EUR […] billion.
To pomeni, da se BAWAG-PSK ne sme udeležiti postopkov, katerih ocenjena skupna vrednost je okoli […] milijard EUR.
The reputational effect of these measures towards public clients could suffer and slow down future expansion of the Bank in this business.
Ti ukrepi bi lahko škodovali ugledu banke pri strankah iz javnega sektorja in tako podaljšali prihodnjo širitev tega poslovnega področja.
The measure as regards State bonds also limits the range of investment products that the Bank can propose in particular to private customers.
V zvezi z državnimi obveznicami ukrep omejuje tudi obseg naložbenih produktov, ki jih lahko banka ponudi zlasti zasebnim strankam.
The two above mentioned measures take place in markets where the Bank will have significant market position after restructuring and go beyond anything necessary to restore viability.
Oba opisana ukrepa se nanašata na trge, na katerih bo banka po prestrukturiranju imela pomembno vlogo, poleg tega pa presegata obseg, potreben za ponovno vzpostavitev rentabilnosti.
Furthermore, the Commission recalls that, as a condition for the granting of the State guarantee, BAWAG-PSK had to sell its shares in the OeNB.
Nadalje Komisija spominja, da je moral BAWAG-PSK za državni prevzem jamstva prodati svoje delnice v OeNB.
This participation was of real significance for the Bank.
Ta udeležba je bila za banko zelo pomembna.
Moreover, shares in Bank Frick & Co. AG and Hobex AG were sold respectively in July 2006 and March 2007.
Poleg tega je julija 2006 oziroma marca 2007 prodal svoje deleže v banki Frick & Co. AG in v podjetju Hobex AG.
By selling its participation in HOBEX, which is active in debiting authorisation, BAWAG-PSK withdrew from an important sector, where the most important banks are present in Austria.
S prodajo svoje udeležbe v podjetju Hobex AG, ki je dejavno na področju odobritev neposrednih obremenitev, se je BAWAG-PSK umaknil iz pomembnega sektorja, na katerem so prisotne največje banke v Avstriji.
As far as a closure of three branch offices in Vienna is concerned, Austria indicated a preference not to consider such a closure as effective compensatory measure.
Avstrija je navedla, da zaprtja podružnic na Dunaju ne želi obravnavati kot učinkovit kompenzacijski ukrep.
The Commission does indeed not consider that the closure of three branch offices in Vienna could be regarded as effective compensatory measure in the present case because it has not been demonstrated that the relevant branches are not loss-making activities which would have to be closed at any rate to restore viability.
Zaprtja treh podružnic na Dunaju v zadevnem primeru tudi po mnenju Komisije ni mogoče obravnavati kot učinkovit kompenzacijski ukrep, saj ni dokazov o tem, da so zadevne podružnice prinašale dobiček in bi jih bilo treba za ponovno vzpostavitev rentabilnosti v vsakem primeru zapreti.
In the insurance sector, close to its core business, BAWAG-PSK will quickly sell an interest of more than 50 % in P.S.K.
V zavarovalniškem sektorju, ki je blizu njegovi osnovni dejavnosti, bo BAWAG-PSK kmalu prodal udeležbo v P.S.K.
Versicherung AG and BAWAG-Versicherung AG, and also grant a call option for the buyer for the rest of the shares. The relating discounted value amounts to more than EUR […] billion.
Versicherung AG in BAWAG-Versicherung Aktiengesellschaft v višini več kot 50 % in kupcu ponudil tudi nakupno opcijo za preostale deleže.
In addition, the insurance broker Funk International Austria GmbH was sold in January 2007.
Zadevna diskontirana vrednost znaša več kot […] milijard EUR. Januarja 2007 je bila prodana tudi družba za zavarovalniško posredništvo Funk International Austria GmbH.
The Commission notes that the bank has also undertaken to sell the essential part of its non-core business activities (notably Cosmos Elektrohandels GmbH & Co KG, COSMOS Geschäftsführungs- und Beteiligungs GmbH, […], and the 42 % share in ATV Privat-TV Services AG).
Banka se je tudi obvezala, da bo prodala najpomembnejše deleže v podjetjih, ki niso povezana z njeno osnovno dejavnostjo (zlasti deleže v Cosmos Elektrohandels GmbH & Co KG, COSMOS Geschäftsführungs- und Beteiligungs GmbH, […] in 42-odstotni delež v ATV Privat-TV Services AG).
This will lead BAWAG-PSK to refocus on its core business.
S tem se bo BAWAG-PSK zopet osredotočil na svojo osnovno dejavnost.
To allow for a smooth divestment process and the completion of the ongoing restructuring process, the Commission can accept that [51] the sale of […] only takes place before […], and the sale of the 42 % share in ATV Privat-TV Services AG only takes places before […].
Da bi postopek prodaje potekal gladko in da se postopek prestrukturiranja lahko zaključi, Komisija sprejme, da [51] se […] proda pred […] in da se 42-odstotni delež v ATV Privat-TV Services AG proda pred […].
Besides, the sight deposits held at BAWAG-PSK for domestic and foreign clients were reduced from the end of September 2005 until June 2006 by more than EUR 560 million (market share sank by […] percentage points to […] %).
Poleg tega so se od konca septembra 2005 do junija 2006 vloge na vpogled domačih in tujih strank pri BAWAG-PSK zmanjšale za okoli 560 milijonov EUR (tržni delež se je zmanjšal za […] % na […] %).
The savings deposits during the same period were reduced by EUR 4 billion (market share sank by almost […] percentage points to […] %).
Hranilne vloge so se v istem obdobju zmanjšale za 4 milijarde EUR (tržni delež se je zmanjšal za skoraj […] % na […] %).
While this ‘bank run’ may not be fully comparable to a compensation measure in the meaning of the guidelines, it considerably reduced the most important refinancing source for BAWAG-PSK.
Čeprav ta izguba vlog ni popolnoma primerljiva s kompenzacijskim ukrepom v smislu smernic, je negativno vplivala na pomemben vir refinanciranja banke.
In this context, the Commission considers that the ‘bank run’ has to be regarded as a mitigating element in the global assessment of the occurrence of undue distortion of competition.
V tem okviru je treba po mnenju Komisije pri skupni presoji morebitnega neupravičenega izkrivljanja konkurence množično dvigovanje bančnih vlog obravnavati kot olajševalne okoliščine.
Globally, the total balance sheet of the Bank as of 31 December 2006 has diminished by 11 % in comparison to 31 December 2005 (minus EUR 6 billion) [52] and by 9,3 % in comparison to 30 June 2006 (minus EUR 5 billion), after the granting of the State guarantee.
Skupaj se je bilančna vsota BAWAG-PSK na dan 31. decembra 2006 po prevzemu jamstva s strani države v primerjavi z 31. decembrom 2005 zmanjšala za 11 % (6 milijard EUR) [52], v primerjavi s 30. junijem 2006 pa za 9,3 % (5 milijard EUR).
Further measures, in particular the reduction by EUR […] billion of the volume of the loans to Austria will have an impact as of […] and should roughly represent an additional decrease of […] % (versus 2005 basis).
Nadaljnji ukrepi, zlasti zmanjšanje posojil Avstriji za […] milijard EUR, bodo imeli vpliv do […] in bi lahko pomenili nadaljnje zmanjšanje bilančne vsote za […] % (v primerjavi z letom 2005).
Finally, the guidelines note that the provision of rescue or restructuring aid may be regarded as legitimate, exceptionally, by the desirability of maintaining a competitive market structure when the demise of firms could lead to a monopoly or to a tight oligopolistic situation.
Pomoči za reševanje in prestrukturiranje je v skladu s smernicami v izjemnih primerih mogoče obravnavati kot upravičene, če ohranjajo konkurenčno strukturo trga in bi izginotje podjetja lahko privedlo do monopola ali oligopola.
In this context, the Commission remarks that the disappearance of BAWAG-PSK in case of bankruptcy would probably have mostly benefited to the major competitors of the Bank, on a market which is already rather concentrated [53], with BA-CA, die Erste Bank/Sparkassengruppe and the Raiffeisengruppe, having together more than 80 % market share in retail banking in Austria.
Izginotje BAWAG-PSK v primeru stečaja bi verjetno v prvi vrsti okrepilo najpomembnejše konkurente banke, in sicer na že precej koncentriranem trgu [53], na katerem imajo Bank Austria Creditanstalt, Erste Bank/Sparkassengruppe in Raiffeisengruppe na področju majhnih bančnih poslov skupaj več kot 80-odstotni tržni delež.
As a conclusion, the Commission considers that the compensatory measures are in proportion to the distortive effects of the aid granted to BAWAG-PSK, taking into account the range identified for the element of aid involved in the guarantee.
Komisija je sklenila, da so kompenzacijski ukrepi ob upoštevanju obsega, določenega za element pomoči prevzema jamstva, sorazmerni z učinki izkrivljanja konkurence pomoči za BAWAG-PSK.
The Commission does not regard the selling commitment imposed on ÖGB by Austria as compensation for the distortion of competition because BAWAG-PSK is the direct beneficiary of the aid and not ÖGB.
Obveznost prodaje, ki jo je Avstrija naložila ÖGB, po mnenju Komisije ni nadomestilo za izkrivljanje konkurence, saj je neposredni prejemnik pomoči BAWAG-PSK in ne ÖGB.
The sale of the Bank to the Consortium is however regarded as a positive element for the restructuring process (see above).
Prodaja banke konzorciju pa se vendarle obravnava kot koristna za postopek prestrukturiranja (glej zgoraj).
Besides, the fact that BAWAG-PSK competitors created the SPVs to strengthen the equity base of the Bank does not mean that the distortions of competition induced by the State guarantee are not noticeable.
Prav tako dejstvo, da so konkurenti BAWAG-PSK za zavarovanje kapitalske osnove banke ustanovili dva SPV, ne pomeni, da državni prevzem jamstva ne more povzročiti opaznega izkrivljanja konkurence.
Actually, it is of relevance to note that the SPVs were only created after the guarantee was granted to BAWAG-PSK.
V zvezi s tem je pomembno, da sta bila SPV ustanovljena šele po prevzemu jamstva.
The Commission will need to be kept informed of the progress in the implementation of the above mentioned compensatory measures.
Komisijo je treba obveščati o napredku, doseženem pri uresničevanju zgoraj omenjenih kompenzacijskih ukrepov.
Because of unforeseeable circumstances, to be justified by Austria, the Commission may decide to prolong the deadlines set for the implementation of the compensatory measures.
Roke za izvedbo kompenzacijskih ukrepov lahko Komisija podaljša, če Avstrija dokaže obstoj nepredvidljivih okoliščin.
In exceptional cases, upon request to be duly motivated by Austria, the Commission may also decide that some obligations and conditions are amended and/or replaced by equivalent measures.
V izjemnih primerih, ki jih mora Avstrija ustrezno utemeljiti, lahko Komisija na zahtevo spremeni nekatere zahteve in pogoje ali jih nadomesti z drugimi enakovrednimi ukrepi.
Specific conditions attached to the authorisation of aid (paragraph 46 of the guidelines)
Posebni pogoji za odobritev pomoči (odstavek 46 smernic)
In addition to the measures adopted to avoid undue distortions of competition, the Commission may impose any conditions and obligations it considers necessary in order to ensure that the aid does not distort competition to an extent contrary to the common interest.
Poleg ukrepov za preprečevanje neupravičenega izkrivljanja konkurence lahko Komisija določi pogoje in zahteve, ki so po njenem mnenju potrebni za zagotovitev, da pomoč ne izkrivlja konkurence v obsegu, ki bi bil v nasprotju s skupnim interesom.
In this respect, the Commission wishes to ensure that no additional aid is provided that would alter the proportionality of the aid measure as a whole which are the subject of the present Decision.
V zvezi s tem želi Komisija zagotoviti, da ne bo dodeljena nobena druga pomoč, ki bi vplivala na sorazmernost ukrepa pomoči, na katerega se nanaša zadevna odločba.
Thus although the Commission has taken note of the commitments made by BAWAG-PSK and transmitted by Austria as regards the granting of other State aid until the end of 2010, the Commission also notes that in any event, there is a general prohibition on restructuring aid to the BAWAG-PSK group for 10 years hereafter in accordance with Section 3.3 of the guidelines.
Komisija je sicer seznanjena z obveznostmi BAWAG-PSK v zvezi z dodelitvijo drugih pomoči do konca leta 2010, ki jih je posredovala Avstrija, vendar opozarja, da je v skladu z oddelkom 3.3 smernic dodelitev pomoči za prestrukturiranje za skupino BAWAG-PSK v vsakem primeru prepovedana za obdobje 10 let po tej odločbi.
The Commission considers this commitment appropriate and necessary within the meaning of paragraph 46(c) of the guidelines.
Ta obveznost je po mnenju Komisije v smislu odstavka 46(c) smernic primerna in nujna.
The Commission also notes that the general prohibition does not apply to aid covered by Article 87(2) of the Treaty.
Splošna prepoved se ne nanaša na pomoči iz člena 87(2) Pogodbe ES.
Moreover, because the proportionality assessment of the aid contained in the State guarantee would not be affected to a material extent, and in view of the objectives pursued, the Commission can accept that aid granted under research projects jointly financed by the European Union, and aid to general training [54] within approved schemes, and aid for energy saving [55] within approved schemes could be granted to BAWAG-PSK.
Komisija lahko spričo zastavljenih ciljev sprejme, da se za BAWAG-PSK lahko dodelijo pomoči v okviru raziskovalnih projektov, ki jih sofinancira Evropska unija, pomoči za splošno usposabljanje [54] v okviru odobrenih shem in pomoči za ukrepe varčevanja z energijo [55] v okviru odobrenih shem, saj te pomoči nimajo velikega vpliva na sorazmernost elementa pomoči prevzema jamstva.
The Commission also considers that the commitments mentioned under point (197) and (198) above also meet the requirements of paragraph 46(a) and (b) of the guidelines.
Komisija tudi meni, da obveznosti iz odstavkov (197) in (198) zgoraj izpolnjujejo zahteve v skladu z odstavkom 46(a) in (b) smernic.
The Commission finds that Austria has unlawfully implemented the aid in the form of the State guarantee of an amount of EUR 900 million in breach of Article 88(3) of the Treaty.
Komisija ugotavlja, da pomoč, ki jo je Avstrija dodelila v obliki prevzema jamstva v znesku 900 milijonov EUR krši člen 88(3) Pogodbe ES in je zato nezakonita.
However, the aid can be declared compatible with the common market provided that the conditions imposed are fulfilled,
Vendar pa je pomoč združljiva s skupnim trgom, če so izpolnjeni predpisani pogoji –
The State guarantee of EUR 900 million implemented by Austria for the restructuring of BAWAG-PSK constitutes State aid within the meaning of Article 87(1) EC that is compatible with the common market subject to the obligations and conditions set out in Article 2.
Državna pomoč v višini 900 milijonov EUR, ki jo je Avstrija v obliki državnega jamstva dodelila za prestrukturiranje BAWAG-PSK, je združljiva s skupnim trgom, če so izpolnjeni pogoji in zahteve iz člena 2.
The plan for restructuring BAWAG-PSK, as communicated to the Commission by Austria on 3 January 2007, shall be fully implemented.
Avstrija zagotovi, da se načrt za prestrukturiranje BAWAG-PSK, ki je bil Komisiji posredovan 3. januarja 2007, izvede v celoti.
The following assets shall be sold to a third party that is independent of the BAWAG-PSK group:
Avstrija zagotovi, da se tretji osebi, ki ni povezana s skupino BAWAG-PSK, prodajo naslednji deleži:
sale of an interest of more than 50 % in P.S.K.
Prodaja deleža v višini več kot 50 % v P.S.K.
Versicherung AG and BAWAG-Versicherung Aktiengesellschaft, reflected in the balance sheet no later than […], and the granting of a call option for the acquirer for the rest of the shares;
Versicherung AG in v BAWAG-Versicherung Aktiengesellschaft z bilančnim učinkom najpozneje do […] in odobritev nakupne opcije kupcu za preostale deleže.
completion of the sale of real estate, valued at EUR […] million in total as reflected in the balance sheet, no later than […];
Zaključek prodaje nepremičnin v vrednosti okoli […] milijonov EUR s skupnim bilančnim učinkom najpozneje do […].
sale of the […] % interest in […], reflected in the balance sheet no later than […];
Prodaja deleža v višini […] % v […] z bilančnim učinkom najpozneje do […].
sale of the 42,56 % interest in ATV Privat-TV Services AG, reflected in the balance sheet no later than […];
Prodaja deleža v višini 42,56 % v ATV Privat-TV Services AG z bilančnim učinkom najpozneje do […].
sale of […], reflected in the balance sheet no later than […].
Prodaja […] z bilančnim učinkom najpozneje do […].
The volume of BAWAG-PSK loans to Austria shall be reduced to a maximum of EUR […] billion as of the end of the 2007 business year. This amount shall not be exceeded for a period ending on […].
Avstrija zagotovi, da so posojila BAWAG-PSK Avstriji do konca poslovnega leta 2007 omejena na največ […] milijard EUR. Ta znesek ne sme biti presežen do […].
BAWAG-PSK shall not be selected for the issuing of State bonds for a period of […] beginning on […].
BAWAG-PSK v obdobju […], s pričetkom […] ne sme biti izbran za izdajatelja državnih obveznic države Avstrije.
No restructuring aid can be approved within the next 10 years.
V naslednjih desetih letih se ne odobri nobena pomoč za prestrukturiranje.
For the purpose of monitoring compliance with the conditions set out in paragraphs 1 to 5, Austria shall provide regular reports on the state of progress of BAWAG-PSK's restructuring until 2010.
Za spremljanje izpolnjevanja pogojev iz odstavkov 1 do 5 mora Avstrija do leta 2010 redno poročati o napredku, doseženem pri prestrukturiranju BAWAG-PSK.
The first annual report shall be submitted in January 2009.
Prvo letno poročilo se predloži januarja 2009.
The following reports will cover the years 2009 and 2010 and should respectively be submitted by end of March 2010 and 2011.
Naslednja poročila se nanašajo na leto 2009 oz. 2010 in se predložijo do konca marca 2010 oz. 2011.
Austria shall inform the Commission, within two months of notification of this Decision, of the measures taken to comply with it.
Avstrija obvesti Komisijo v dveh mesecih po objavi te odločbe o ukrepih, sprejetih za izvajanje te odločbe.
OJ C 232, 30.12.2006, p. 11.
UL C 232, 30.12.2006, str. 11.
ÖGB directly owned 51 % and indirectly through its private foundation Österreichische Gewerkschaftliche Solidarität Privatstiftung (ÖGSP) 49 %.
ÖGB je imel v neposredni lasti 51 % družbe in v posredni lasti – preko zasebnega sklada Österreichische Gewerkschaftliche Solidarität Privatstiftung („ÖGSP“) – 49-odstotni delež.
ÖGB is the founder of ÖGSP.
ÖGB je ustanovitelj ÖGSP.
Consisting mainly of two unsecured loans granted to AVB in the form of account overdraft lines in the amount totaling EUR 1,531 billion and two loans to ÖGSP in the form of account overdraft lines in the total amount of EUR […] million.
Največ teh terjatev so sestavljali dva nezavarovana kredita, ki sta bila AVB dodeljena v obliki limitov v skupnem znesku 1,531 milijarde EUR, in dva kredita za ÖGSP v obliki limitov v skupnem znesku […] milijonov EUR.
Sum of the purchase price and required capital injections into BAWAG-PSK.
Vsota prodajne cene in kapitalskih vložkov, potrebnih za BAWAG-PSK.
BAWAG Versicherung AG and P.S.K. Versicherung AG have […] % market share in the Austrian life insurance segment.
BAWAG Versicherung AG in PSK Versicherung AG imata na avstrijskem trgu življenjskih zavarovanj delež v višini […] %.
The consortium consists of Cerberus European Investments, the Austrian Post, Generali Holding Vienna AG, Wüstenrot Verwaltung- and Dienstleistungen GmbH, other financial institutions and private persons.
Konzorcij je sestavljen iz Cerbus European Investments, Avstrijske pošte, Generali Holding Vienna AG, Wüstenrot Verwaltung- and Dienstleistungen GmbH ter drugih finančnih institucij in zasebnikov.
Refco was at the time the largest derivatives broker in the USA.
Refco je bil tedaj največji posrednik terminskih in izvedenih finančnih poslov v ZDA.
In the Annex to the Audit Report, BGBl.
V Dodatku k revizijskemu poročilu, BGBl.
II No 305/2005, in Part IV Z 14 point c and point d.
II št. 305/2005, v delu IV Z 14 točki c in d.
Judgment of the Court of Justice of 14 September 1994, Joined Cases C-278/92, C-279/92 and C-280/92 Spain vs Commission [1994] ECR I-4103.
Sodba Sodišča z dne 14. septembra 1994 v združenih zadevah C-278/92, C-279/92 in C-280/92 Kraljevina Španija proti Komisiji, [1994] Recueil, I-4103.
BAWAG-PSK’s rating by Moody was reduced from A2 to A3 for all short and long-term deposits and debt, while the financial strength ratio became E+.
Ocena BAWAG-PSK pri Moody's se je znižala za vse kratko- in dolgoročne vloge in terjatve z A2 na A3, ocena finančne moči banke pa na E+.
The FSR represents Moody’s opinion of the bank intrinsic safety and soundness and, as such, excludes certain external credit risks and credit support elements that are addressed by Moody’s Bank Deposit Ratings.
FSR pri Moody's uporabljajo kot oceno notranje varnosti in bonitete banke, pri tem pa ne upoštevajo določenih zunanjih kreditnih tveganj in kreditnih elementov podpore, ki jih zajemajo ocene bančnih depozitov pri Moody's.
Commission Decision of 23 June 1999, C(1999) 2035, Crédit foncier de France (OJ L 34, 3.2.2001, p. 36), paragraph 49.
Odločba Komisije z dne 23. junija 1999, C(1999) 2035, Crédit Foncier de France, (UL L 34, 3.2.2001, str. 36), odstavek 49.
Commission Decision of 18 February 2004, C(2004) 327, Bankgesellschaft Berlin (OJ L 116, 4.5.2005, p. 1), paragraph 27, fourth indent.
Odločba Komisije z dne 18. februarja 2004, C(2004) 327, Bankgesellschaft Berlin, (UL L 116, 4.5.2005, str. 1), odstavek 27.
Commission Decision of 2 March 2005, C(2005) 427, Chemische Werke Piesteritz (OJ L 296, 12.11.2005, p. 19), paragraph 107.
Odločba Komisije z dne 2. marca 2005, C(2005) 427, Chemische Werke Piesteritz, (UL L 296, 12.11.2005, str. 19), odstavek 107.
EUR 900 million × 5,457 % = 49,1 million.
900 mio EUR × 5,47 % = 49,1 mio EUR.
EUR 49,1 – (900 × 0,2 %) = 47,3 million.
49,1 mio EUR – (900 × 0,2 %) = 47,3 mio EUR.
Compare Moody’s Investor Service, ‘Default and Recovery Rates of Corporate Bond Issuers: 2000’.
Prim. Moody’s Investor Service, „Default and Recovery Rates of Corporate Bond Issuers: 2000“.
Based on a standard solvency ratio of 8 %.
Na podlagi standardne stopnje solventnosti v višini 8 %.
Based on the change of Swap spreads before and after the implementation of the guarantee.
Na podlagi sprememb krivulj zamenjav pred in po dodelitvi državnega jamstva.