natgillin/translations-raw huggingface dataset:
The expectations regarding the development of the credit risks are cautious.
Pričakovanja glede razvoja kreditnih tveganj so previdna.
While the projections for losses are conservative, the likelihood of losses – in particular for corporate business – is estimated to be lower than as assessed by the Commission.
Medtem ko so napovedi za izgube zaradi neplačil zadržane, pa so verjetnosti neplačila – predvsem glede poslovanja z gospodarskimi družbami – predvidene v manjšem obsegu, kot ga predvideva Komisija.
However, LBBW was able to demonstrate that the loss expectations are far above the historical data (for the last recession in Germany) and correspond to those of other banks with the same group of customers.
Vendar je LBBW lahko dokazala, da so pričakovane izgube precej presegale zgodovinske podatke (za zadnjo recesijo v Nemčiji) in so ustrezale pričakovanjem drugih bank z enako skupino strank.
Furthermore the bank emphasised the financial strength of these corporate customers compared to other companies in Europe and stressed the advantages due to its strong corporate relationships.
Poleg tega je banka poudarila finančno moč teh strank (gospodarskih družb) v primerjavi z drugimi podjetji v Evropi in prednosti, ki izhajajo iz močnih razmerij z matično banko.
In addition it demonstrated that the loss expectations for this particularly important market segment for LBBW’s overall credit risk correspond to those of its peers.
Zraven je utemeljevala, da pričakovane izgube tega tržnega segmenta, ki je posebej pomemben za celotno kreditno tveganje LBBW, ustrezajo pričakovanjem konkurentov.
There is some uncertainty concerning the development of market risks, although investment in structured securities is no longer of importance as one of the largest risk drivers.
Nekoliko negotovosti je glede razvoja tržnih tveganj, pri čemer pa naložbe v strukturirane vrednostne papirje kot eden največjih dejavnikov tveganja niso več pomembne.
Furthermore trading for its own account will be considerably reduced and the area of securities settlement will be directed at asset management and customer-focused business.
Poleg tega bo precej zmanjšano poslovanje za svoj račun, področje poravnave poslov z vrednostnimi papirji pa bo usmerjeno v upravljanje premoženja in poslovanje s strankami.
In addition the range of traded products will be reduced and their complexity will be restricted.
Poleg tega bo zmanjšana ponudba skupaj obravnavanih produktov, njihova kompleksnost pa omejena.
Appropriate account is therefore taken of market risk in the restructuring plan.
Tako bo v načrtu prestrukturiranja ustrezno upoštevano tržno tveganje.
A further important aspect is developments in expenses.
Še en pomemben vidik je razvoj stroškov.
Thus LBBW assumes that it will be able to save 25 % in its administrative costs.
LBBW izhaja iz dejstva, da bo lahko privarčevala 25 % upravnih stroškov.
Since the restructuring plan envisages a reduction in jobs of around 20 % and a slimming down of the structure, business fields and products, such projections are credible.
Ker sta v načrtu prestrukturiranja predvidena približno 20-odstotno zmanjšanje števila delovnih mest ter večja vitkost strukture, poslovnih področij in produktov so tovrstne napovedi verodostojne.
Despite a significant reduction in assets and business activities LBBW expects only a slight decline in income compared with previously.
Čeprav so se sredstva in poslovne dejavnosti precej zmanjšali, pričakuje LBBW le manjši upad prihodkov v primerjavi s prejšnjimi.
While it is also assumed that the bank’s financial markets business area will continue to produce profits, there will be income from fees instead of income from trading for its own account.
Poleg tega se bo sicer predvidevalo, da bo poslovno področje kapitalskih trgov banki še naprej prinašalo donose, vendar bodo prihodki iz poslovanja za svoj račun nadomeščeni s prihodki iz premij.
All in all a more stable profit situation less dependent on the fluctuation of market prices is expected.
Na koncu se predvideva, da bodo donosi stabilnejši in manj odvisni od nihanj tržnih cen.
Secondly, in order to be appropriate to restore the bank’s profitability in accordance with the Restructuring Communication, the restructuring plan should identify the causes of the bank’s difficulties and the bank’s own weaknesses and outline how the proposed restructuring measures remedy the bank’s underlying problems.
Drugič, da bo načrt prestrukturiranja primeren v skladu s sporočilom o prestrukturiranju, mora ponovno vzpostaviti uspešno poslovanje banke, opredeliti vzroke za težave banke in njene lastne slabosti ter opisati, kako bi se s predlaganimi ukrepi prestrukturiranja lahko lotili reševanja problemov banke.
It is the view of the Commission that this is the case since the restructuring plan envisages the bank’s exit from the disproportionately extensive credit substitute business, and LBBW will reduce its capital market activities in both scope and complexity and it will reduce its foreign business in order to concentrate on its core competencies, which lie mainly in private customer business and in business with small and medium-sized customers in the regional markets.
Po mnenju Komisije je načrt prestrukturiranja primeren, saj predvideva opustitev nesorazmerno obsežnega poslovanja s kreditnimi nadomestki ter zmanjšanje obsega in kompleksnosti dejavnosti LBBW na kapitalskih trgih in poslovanja v tujini, da se bo banka osredotočila na osnovne dejavnosti, ki se nanašajo predvsem na zasebno bančništvo ter poslovanje z malimi in srednje velikimi podjetji na regionalnih trgih.
Existing and potential weaknesses in the corporate governance structure must also be the subject of the restructuring plan.
Prav tako mora načrt prestrukturiranja obravnavati tudi obstoječe in potencialne slabosti v strukturi upravljanja družbe.
The Commission notes that the restructuring plan envisages fundamental changes to the legal status and corporate governance, with the result that LBBW will be less subject to improper influence by the shareholders and all in all better corporate governance will be ensured.
Komisija ugotavlja, da načrt prestrukturiranja predvideva temeljne spremembe pravne oblike in upravljanja družbe, tako da bo LBBW manj izpostavljena nedopustnemu vplivu imetnikov deležev in bo v celoti zagotovljen boljši nadzor podjetja.
The measures being implemented will ensure that LBBW does not differ from its competitors either in its articles of association, business policy and internal procedures or with regard to the role and composition of its corporate bodies.
Ukrepi, ki jih je treba uresničiti, bodo zagotovili, da se LBBW ne bo razlikovala od svojih tekmecev niti glede statuta, poslovne politike in notranjih postopkov, niti glede vloge in sestave organov po statutu.
Moreover the roles of the various bodies (owners’ meeting, Supervisory Board and Board of Managing Directors) are more clearly and more consistently separated from each other; the Supervisory Board will gain in professionalism through the inclusion of independent experts in supervisory boards and the introduction of aptitude tests for all members.
Poleg tega se bo precej izboljšala kakovost nadzora podjetja. Poleg tega je vloga različnih organov (skupščine lastnikov, nadzornega sveta in uprave) jasnejša in dosledno ločena; ko se bodo v nadzorne svete vključili neodvisni strokovnjaki in izvedel preizkus primernosti za vse člane, se bo povečala strokovnost nadzornega sveta.
Thus the bank and its shareholders have agreed on a corporate governance framework which fully corresponds to the requirements placed on private undertakings and envisages the implementation of the (voluntary) German Corporate Governance Code.
Tako so se banka in njeni imetniki deležev dogovorili za okvir upravljanja družbe, ki popolnoma ustreza zahtevam, ki veljajo za zasebna podjetja, ter predvideva upoštevanje (prostovoljnega) nemškega kodeksa upravljanja družb.
In addition the strict application of business management principles will be introduced in the Landesbank Baden-Württemberg Act and in LBBW’s articles of association.
Poleg tega bo v zakon o Landesbank Baden-Württemberg in statut LBBW uvedena stroga uporaba gospodarskih načel.
The current owners’ meeting is a potential source of improper influence with its wide-ranging powers and it is being converted into an owners’ or annual general meeting without scope for exerting influence.
Dosedanja skupščina ustanoviteljev je zaradi daljnosežnih pristojnosti potencialen vir neprimernega vplivanja in bo preoblikovana v generalno skupščino ali skupščino lastnikov, ki ne bo več imela možnosti vpliva.
A clearer separation is envisaged between the tasks and responsibilities of the corporate management and the Supervisory Board.
Predvideno je jasnejše ločevanje nalog in področij odgovornosti vodstva podjetja in nadzornega sveta.
In accordance with the German Corporate Governance Code a third of the Supervisory Board are to be independent members.
V skladu z nemškim kodeksom upravljanja družb tretjino sedežev v nadzornem svetu zasedajo neodvisni člani.
The suitability criteria introduced by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)) which are intended to ensure that newly appointed members of supervisory boards have a minimum of expertise will apply to all members.
Merila za ugotavljanje primernosti, ki jih je uvedel zvezni urad za nadzor finančnih storitev (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)), ki naj bi zagotovila, da imajo imenovani člani nadzornega sveta minimalno strokovno znanje, veljajo za vse člane.
During the restructuring an independent member will assume the tasks of the chairman of the Supervisory Board.
Med prestrukturiranjem bo mesto predsednika upravnega odbora zasedal neodvisni član.
The Audit Committee and the Risk Committee are in accordance with best governance principles for banks and contain even stricter suitability criteria.
Odbor za revizijo/bilanco in odbor za tveganja sta v skladu z načeli najboljšega upravljanja za banke, zanju pa veljajo še strožja merila za ugotavljanje primernosti.
In order to provide some finality to these changes in corporate governance, LBBW will be converted from a public entity into a public limited company.
Da bi se zagotovil dokončni značaj teh sprememb v okviru upravljanja družbe, se bo banka iz osebe javnega prava preoblikovala v delniško družbo.
Moreover risk management concepts and procedures are being and have already been changed in order to further reduce the number of decisions which involve an assumption of risk but which are not taken in accordance with purely business principles.
Poleg tega bodo oziroma so že bili spremenjeni koncepti in postopki upravljanja tveganj, da bi še bolj zmanjšali število odločitev, ki vsebujejo prevzem tveganja, vendar niso sprejete na podlagi čisto gospodarskih načel.
These measures will ensure as far as possible that corporate governance aspects will not endanger the future viability of the bank.
Ti ukrepi v okviru možnosti zagotavljajo, da vidiki upravljanja družbe ne bodo ogrozili uspešnega poslovanja banke prihodnosti.
In addition there is no evidence that LBBW will continue business segments which would remain structurally in deficit in the medium term or which would expose the bank to risks which would not correspond to the quality of its risk management or its capital resources.
Poleg tega ni nobenih dokazov, da bo LBBW nadaljevala poslovne dejavnosti, ki bi srednjeročno iz strukturnih razlogov še naprej ustvarjale izgubo ali banko izpostavljale tveganjem, ki ne bi ustrezala kakovosti njenega upravljanja tveganj ali kapitalski ustreznosti.
The credit substitute business has been fully closed down, existing portfolios are being dissolved, trading on its own account is to be considerably reduced, and credit risk – in particularly the concentration risk in LBBW’s core business segments – will be subject to stricter review and is also to be considerable reduced.
Poslovanje s kreditnimi nadomestki se popolnoma opušča, obstoječi portfelji se ukinjajo, poslovanje za svoj račun naj bi močno zmanjšali, kreditno tveganje – predvsem tveganje koncentracije v osnovnih poslovnih področjih LBBW – pa se bo strožje preverjalo in prav tako precej zmanjšalo.
All in all the LBBW’s profit and risk profiles will become more transparent and simpler.
Profili donosa in tveganja LBBW bodo v celoti preglednejši in preprostejši.
LBBW has learned its lessons from the crisis and has made a number of changes to its business strategy and its risk management which should make it less susceptible in future.
LBBW je iz krize izluščila svoj nauk ter se lotila vrste sprememb v poslovni strategiji in upravljanju tveganj, zaradi česar naj bi bila v prihodnosti manj občutljiva.
These include focussing on business segments in which it has particular expertise and many years of credit relationships and reducing the concentration risk.
To vključuje predvsem osredotočenje na poslovna področja, kjer ima posebno strokovno znanje in kjer obstajajo dolgoletna kreditna razmerja, ter zmanjšanje tveganja koncentracije.
Considered on the whole the LBBW restructuring plan is therefore appropriate for restoring the long-term viability of the bank.
V celoti gledano je načrt prestrukturiranja LBBW primeren za ponovno vzpostavitev dolgoročno uspešnega poslovanja banke.
Own contribution by the beneficiary bank
Lastni prispevek banke upravičenke
According to section 3 of the Restructuring Communication aid should be limited to the minimum necessary and an appropriate own contribution to restructuring costs should be provided.
V skladu z razdelkom 3 sporočila o prestrukturiranju mora biti pomoč omejena na najnižjo potrebno, banka upravičenka pa mora zagotoviti ustrezen lastni prispevek k stroškom prestrukturiranja.
It can be seen from the restructuring plan that LBBW envisages appropriate burden sharing in accordance with the Restructuring Communication, with the result that moral hazard is avoided.
Iz načrta prestrukturiranja izhaja, da LBBW v skladu z načrtom prestrukturiranja predvideva ustrezno porazdelitev bremena, tako da se preprečijo moralna tveganja.
The restructuring plan does not contain any elements which could lead to the assumption that the aid exceeds the coverage of the costs necessary for the restoration of viability.
Načrt prestrukturiranja ne vsebuje nobenih elementov, na podlagi katerih bi lahko predvidevali, da pomoč presega kritje stroškov, potrebnih za ponovno vzpostavitev uspešnega poslovanja.
The aid received is necessary to ensure that LBBW in the baseline case has sufficient capital buffers and will be able in an unfavourable scenario to meet the regulatory capital requirements.
Prejeta pomoč je potrebna za zagotovitev, da ima LBBW v osnovnem scenariju na voljo dovolj kapitalskih rezerv in da bo ob neugodnejšem scenariju sposobna izpolniti regulativne zahteve glede zadostne kapitalske ustreznosti.
LBBW has not received more capital.
LBBW ni prejela več kapitala, kot je bilo potrebno.
In addition it is excluded due to scarcity of resources and the ban on acquisitions promised by Germany that State resources will be used for the acquisition of company shares or new investment.
Poleg tega je zaradi omejenosti virov in prepovedi pridobitev, ki jo je obljubila Nemčija, izključena možnost, da bi se državna sredstva uporabila za pridobivanje deležev podjetij ali nove naložbe.
As envisaged under paragraph 24 of the Restructuring Communication, LBBW bears part of the costs of its restructuring by paying an appropriate compensation for the capital injection and the asset relief measure.
Kot je predvideno v točki 24 sporočila o prestrukturiranju, LBBW krije del stroškov prestrukturiranja, tako da plača ustrezno nadomestilo za kapitalsko injekcijo in ukrep pomoči.
Furthermore LBBW is making a contribution towards the restructuring through far-reaching sales (including the sale of units which are important for its business model).
Poleg tega LBBW prispeva k prestrukturiranju z obsežnimi odprodajami (vključno s prodajo enot, pomembnih za njen poslovni model).
As the shareholders have injected capital into the bank pro rata to their respective shareholding, the burdens are at least equitably distributed among the groups of shareholders.
Ker so imetniki deležev vložili kapital v banko sorazmerno s svojo udeležbo, so vsaj na skupine imetnikov deležev bremena ustrezno porazdeljena.
Due to the prohibition on appropriating reserves for the servicing of coupons for tier 1 and tier 2 instruments, the lower-ranking capital owners are also contributing to the restructuring of LBBW.
Vendar tudi imetniki najmanjših deležev na podlagi prepovedi, da ne smejo likvidirati rezerv za zagotovitev kuponov za instrumente temeljnega in sekundarnega kapitala, prispevajo k prestrukturiranju LBBW.
According to paragraph 26 of the Restructuring Communication a bank should not use State aid to pay compensation for own resources if there are insufficient profits.
V skladu s točko 26 sporočila o prestrukturiranju banka ne sme uporabiti državne pomoči za izplačilo nadomestila za lastna sredstva, če ni ustvarjen zadostni dobiček.
Germany has undertaken that financial instruments will only be serviced in the next three years if no appropriation of reserves is necessary for this.
Nemčija se je strinjala, da bodo v naslednjih treh letih kapitalski instrumenti uporabljeni le, ko za to ne bo treba likvidirati rezerv.
It is consequently ensured that compensation for own resources will only be made in the event of sufficient profits and that no State aid will be used for payments to shareholders.
Posledično je zagotovljeno, da pride do nadomestila za lastna sredstva le pri zadostnem dobičku in da se državne pomoči ne smejo uporabiti za izplačila imetnikom deležev.
Measures to avoid distortions of competition
Ukrepi za preprečevanje izkrivljanja konkurence
According to section 4 of the Restructuring Communication measures to limit distortions of competition due to State aid play an important role, as they are necessary to prevent any continuation of competitive distortions which were caused by excessive risk-taking and unsustainable business models.
V skladu z razdelkom 4 sporočila o prestrukturiranju imajo ukrepi za omejevanje izkrivljanja konkurence, ki izvira iz državne pomoči, pomembno vlogo, saj so potrebni, da preprečijo nadaljnji obstoj izkrivljanja konkurence, ki je bilo povzročeno s prevzemanjem pretiranih tveganj in nezanesljivih poslovnih modelov.
Such measures should be tailor-made for the specific problems of the markets in which the beneficiary bank is active after the restructuring.
Taki ukrepi morajo biti prilagojeni razmeram na trgih, na katerih banka upravičenka po prestrukturiranju ponovno posluje.
The type and nature of such measures are focussed on two criteria: firstly, according to the level of the aid and the conditions and circumstances under which the aid has been granted and, secondly, according to the characteristics of the market or markets in which beneficiary bank will be active.
Narava in oblika takih ukrepov se določita na podlagi dveh meril: prvič, na podlagi višine pomoči ter pogojev in okoliščin, v katerih je bila pomoč dodeljena, in drugič, na podlagi značilnosti trga oziroma trgov, na katerih bo poslovala banka upravičenka.
In accordance with paragraph 31 of the Restructuring Communication the Commission assesses the level of the aid and the resultant distortions of competition by taking account of the amount of the aid both absolutely and in relation to the bank’s impaired assets.
V skladu s točko 31 sporočila o prestrukturiranju Komisija ocenjuje višino pomoči in izkrivljanje konkurence, ki izvira iz take pomoči, tako da znesek pomoči upošteva v absolutnem smislu in tudi v razmerju do tveganih sredstev banke.
The capital equivalent of the measures amounts to [40-50] % of LBBW’s own resources (situation as at 30 June 2009).
Kapitalski ekvivalent ukrepa znaša [40–50] % lastnih sredstev LBBW (na dan 30. junija 2009).
As the beneficiary bank has consequently received a high level of aid, far-reaching measures are necessary to limit any distortions of competition due to State aid.
Ker je banka upravičenka s tem prejela veliko pomoč, so potrebni daljnosežni ukrepi, da bi omejili morebitno izkrivljanje konkurence, ki izvira iz državne pomoči.
In addition, with regard to the scope and extent of the measures to limit the distortions of competition due to State aid, the scale of the beneficiary bank’s own contribution and burden sharing should be taken into account.
Glede vrednosti in obsega ukrepov za omejevanje izkrivljanja konkurence, ki izvira iz državne pomoči, je treba poleg tega upoštevati obseg lastnega prispevka banke upravičenke in porazdelitev bremena.
In view of the above finding that its own contribution and burden sharing were appropriate, no additional far-reaching measures are necessary.
Ob upoštevanju zgornje ugotovitve, da sta bila lastni prispevek in porazdelitev bremena ustrezna, niso potrebni dodatni daljnosežni ukrepi.
In order to limit any distortions of competition, Germany has undertaken both to take structural measures and to comply with a number of behavioural obligations.
Da bi Nemčija omejila morebitno izkrivljanje konkurence, je obljubila, da bo sprejela strukturne ukrepe in tudi vrsto zavez glede ravnanj.
As part of the structural measures LBBW will reduce its balance sheet by a total of 41 % compared with the balance sheet as at 31 December 2008 through the reduction of non-strategic activities and the sale of holdings.
LBBW bo v okviru strukturnih ukrepov z ukinitvijo nestrateških dejavnosti in prodajo pridruženih družb zmanjšala bilančno vsoto za 41 % v primerjavi z bilančno vsoto na dan 31. decembra 2008.
The existing impaired assets will be reduced by [40-60] %.
Obstoječa tvegana sredstva bodo zmanjšana za [40–60] %.
It is envisaged that a large number of subsidiaries at home and abroad will be sold along with the sale of holdings in companies which are in common ownership by the public credit institutions in Germany and which are highly important for cooperation between the public credit institutions.
Predvidena sta odprodaja velikega števila hčerinskih družb v Nemčiji in tujini ter prodaja deležev v družbah, ki so v skupni lasti kreditnih institucij javnega prava v Nemčiji in so zelo pomembne za sodelovanje kreditnih institucij javnega prava.
LBBW has agreed to considerable cuts in its portfolio of investments.
LBBW se je strinjala glede precejšnjih posegov v svoj portfelj pridruženih družb.
The sales involve, inter alia the only LBBW company which can issue […] in […], units which are part of LBBW’s core business (namely the holdings in the companies of the ‘S’ financial group) and the European LBBW subsidiaries […] and LBBW Luxembourg, which serves German core customers outside the German market.
Odprodaje med drugim zadevajo edino družbo LBBW, ki lahko izda […] v […], enote, ki so del osnovne dejavnosti LBBW (namreč deleži v podjetjih „S-Finanzgruppe“), ter evropske hčerinske družbe LBBW […] in LBBW Luxembourg, ki zagotavljajo storitve za ključne nemške stranke zunaj nemškega trga.
Germany has undertaken that LBBW will ensure that the value of the units to be sold will not be affected by the fact that customers or staff will be lured away from these units.
Nemčija se je strinjala, da bo LBBW poskrbela, da vrednost enot, ki naj bi jih odprodali, ne bo okrnjena zaradi prevzema strank ali osebja teh enot.
The proper management of the sales will be fully monitored and checked in detail by a sufficiently qualified expert (trustee).
Popolno in pravilno likvidacijo odprodaj bo ves čas in v celoti nadziral in podrobno preverjal ustrezno kvalificiran izvedenec.
The sales must be carried out by no later than the end of the restructuring period.
Odprodaje morajo biti opravljene najpozneje do konca obdobja prestrukturiranja.
Otherwise a divestiture trustee will be appointed who will be responsible for the management of the sales […].
V nasprotnem primeru bo imenovan odsvojitveni fiduciar, ki bo pristojen za likvidacijo odprodaj […].
A considerable part of these reductions results from the abandonment of the credit substitute business.
Precejšen del teh zmanjšanj bo posledica opustitev poslovanja s kreditnimi nadomestki.