natgillin/translations-raw huggingface dataset:
The conditions of point 41 of the IAC are fulfilled as a far-reaching restructuring is achieved [43] since NR economic activities continued by BankCo will be reduced by over 75 %.
Pogoji iz točke 41 IAC bodo izpolnjeni z izvedbo daljnosežnega prestrukturiranja [43], ker bodo gospodarske dejavnosti banke NR, ki jih bo nadalje izvajala družba BankCo, zmanjšane za več kot 75 %.
Furthermore, the United Kingdom nationalised the bank in February 2008, and therefore owns 100 % of the shares.
Poleg tega je Združeno kraljestvo februarja 2008 banko nacionaliziralo in je tako njen 100-odstotni lastnik.
By relieving the good bank of the bad mortgages, the State increases the value of the good bank, which it plans to sell within […].
Z odpravo slabih hipotek bo država povečala vrednost dobre banke, ki jo namerava prodati v […].
As a result the benefit from the asset relief will at least partially be captured by the State in the form of a higher sale price of the good bank.
Tako bo finančna pomoč vsaj delno koristila državi, ki bo lahko dobri banki postavila višjo prodajno ceno.
As a consequence they will not receive coupons that are discretionary and […].
Zato ne bodo prejeli kuponov, ki so diskrecijski in […].
Additional burden-sharing is therefore not required (see also recitals 150 and 151).
Dodatna porazdelitev bremena zato ni potrebna (glej tudi uvodni izjavi 150 in 151).
With regard to the remuneration paid for the asset relief, the IAC requires that banks must pay some form of remuneration for the capital relief achieved by impaired assets measures.
V zvezi s povračilom za finančno pomoč IAC določa, da morajo banke plačati nekakšno obliko povračila za to pomoč, doseženo z ukrepi za oslabljena sredstva.
The objective of a mandatory remuneration is two-fold: to ensure burden-sharing and to minimise the distortion of competition.
Cilj obveznega povračila je dvojen: zagotoviti porazdelitev bremena in čim bolj zmanjšati izkrivljanje konkurence.
In this case, burden-sharing is achieved due to the nationalisation of NR (see also recitals 148 and 149).
V tem primeru je porazdelitev bremena dosežena z nacionalizacijo banke NR (glej tudi uvodni izjavi 148 in 149).
As to the second objective, the distortion of competition can be considered as minimised as a result of the considerable down-sizing of NR in the context of the in-depth restructuring (see also recitals 156 et seq).
V zvezi z drugim ciljem se lahko izkrivljanje konkurence obravnava kot zmanjšano zaradi bistvenega skrčenja banke NR v okviru poglobljenega prestrukturiranja (glej tudi uvodno izjavo 156 in naslednje uvodne izjave).
Furthermore, any benefit which BankCo may enjoy as a result of the asset relief measure will be at least partially recuperated through a higher sale price.
Poleg tega bo kakršna koli korist, ki bi jo družba BankCo morda imela zaradi ukrepa finančne pomoči, vsaj delno povrnjena z višjo prodajno ceno.
In such exceptional conditions, it is acceptable that the proceeds of the sale of the bank is a form of remuneration for the State to the extent that it diminishes the total rescue costs.
V takšnih izjemnih razmerah je sprejemljivo, da se prihodki od prodaje banke obravnavajo kot oblika povračila državi, če se s tem zmanjšajo celotni stroški reševanja.
The impaired assets remaining in AssetCo will be managed exclusively by AssetCo, which will be separate and organisationally independent from BankCo.
Z oslabljenimi sredstvi, ki ostanejo v družbi AssetCo, bo upravljala izključno družba AssetCo, ki bo ločena in organizacijsko neodvisna od družbe BankCo.
It is therefore concluded that, in view of the far-reaching restructuring foreseen, the asset relief in favour of BankCo is in conformity with the IAC.
Zato se ugotavlja, da je finančna pomoč v korist družbi BankCo ob upoštevanju predvidenega daljnosežnega prestrukturiranja v skladu z IAC.
The application of the Recapitalisation Communication
Uporaba sporočila o dokapitalizaciji
Recapitalisations are foreseen for both BankCo and AssetCo.
Za družbi BankCo in AssetCo sta predvideni dokapitalizaciji.
According to the Recapitalisation Communication, adequate remuneration should be paid for the recapitalisations.
V skladu s sporočilom o dokapitalizaciji je treba za dokapitalizaciji plačati ustrezno nadomestilo.
In the case of BankCo, it will receive a GBP 1,4 billion capital injection in the form of ordinary shares.
Družba BankCo bo prejela kapitalski vložek v višini 1,4 milijarde GBP v obliki navadnih delnic.
As regards the remuneration to be paid for the ordinary shares, the United Kingdom will already be a 100 % shareholder in BankCo at the time of the split-up.
Kar zadeva nadomestilo, ki ga je treba plačati za navadne delnice, bo med delitvijo Združeno kraljestvo že 100-odstotni delničar v družbi BankCo.
A further capital injection in the form of ordinary shares will not change the shareholding of the United Kingdom in BankCo.
Z dodatnim kapitalskim vložkom v obliki navadnih delnic se delež Združenega kraljestva v družbi BankCo ne bo spremenil.
As already observed with regard to the asset relief measure in recital 114, the United Kingdom has nationalised NR and therefore owns 100 % of the shares.
Kot je bilo v zvezi z ukrepom finančne pomoči že ugotovljeno v uvodni izjavi 114, je Združeno kraljestvo banko NR nacionaliziralo, zato ima v lasti 100 % delnic.
Furthermore, the injected funds will be at least partially recovered through the remuneration of the shares and the sale of BankCo.
Poleg tega bodo vložena sredstva vsaj delno povrnjena prek nadomestila za delnice in prodaje družbe BankCo.
AssetCo will need a capital injection of GBP 1,6 billion only in a stress case scenario.
Družba AssetCo bo le v izjemni situaciji potrebovala kapitalski vložek v višini 1,6 milijarde GBP.
It will not pay a fee for the recapitalisation, if it occurs.
Če do nje pride, provizije za dokapitalizacijo ne bo plačala.
As AssetCo […], it will sell assets on the market.
Ko družba AssetCo […], bo prodala sredstva na trgu.
It will use the proceeds of those sales to pay back the State, which is one of its senior creditors by virtue of the BoE/HMT liquidity facility.
S prihodki od te prodaje bo državi, ki je na podlagi likvidnostnega posojila BoE/finančno ministrstvo eden od prednostnih upnikov, povrnila prejete zneske.
Consequently, it is concluded that the recapitalisations are in line with the Recapitalisation Communication.
Zato je nadomestilo državi inherentno […]. Na podlagi tega je ugotovljeno, da sta dokapitalizaciji v skladu s sporočilom o dokapitalizaciji.
The application of the Restructuring Communication
Uporaba sporočila o prestrukturiranju
The Restructuring Communication sets out the State aid rules applicable to the restructuring of financial institutions in the current crisis.
Sporočilo o prestrukturiranju določa pravila o državni pomoči, ki veljajo za prestrukturiranje finančnih institucij v trenutni krizi.
According to the Restructuring Communication, in order to be compatible with Article 87(3)(b) of the Treaty, the restructuring of a financial institution in the context of the current financial crisis has to:
V skladu s sporočilom o prestrukturiranju mora za združljivost s členom 87(3)(b) Pogodbe ES prestrukturiranje finančne institucije v trenutni finančni krizi:
lead to a restoration of the viability of the bank;
prispevati k obnovitvi sposobnosti preživetja banke;
include sufficient own contribution by the beneficiary (burden-sharing);
vključevati zadostni lastni prispevek upravičenca (porazdelitev bremena);
contain sufficient measures limiting the distortion of competition.
zajemati zadostne ukrepe za omejevanje izkrivljanja konkurence.
Points 9, 10 and 11 of the Restructuring Communication state that the Member State should provide a comprehensive and detailed restructuring plan which should provide complete information on the business model.
Točke 9, 10 in 11 sporočila o prestrukturiranju navajajo, da mora država članica predložiti obsežen in podroben načrt za prestrukturiranje, ki mora vsebovati popolne informacije o poslovnem modelu.
The plan should also identify the causes of the difficulties faced by a financial institution and alternatives to the restructuring plan proposed.
Načrt mora tudi opredeliti vzroke za težave, s katerimi se sooča finančna institucija, in nadomestne možnosti za predlagan načrt za prestrukturiranje.
The information submitted by the United Kingdom meets the requirements of the Restructuring Communication as it provides information on the difficulties faced by NR, the cause of the difficulties and information on the business model of BankCo.
Informacije, ki jih je predložilo Združeno kraljestvo, izpolnjujejo zahteve iz sporočila o prestrukturiranju, ker zajemajo informacije o težavah, s katerimi se sooča banka NR, vzrok za težave in informacije o poslovnem modelu družbe BankCo.
In its extension decision the Commission indicated that it appeared that BankCo will be a viable bank after the split-up.
Komisija je v svoji odločitvi o razširitvi postopka navedla, da se zdi, da bo družba BankCo po delitvi preživetja sposobna banka.
However as it had not received a business plan effectively demonstrating the viability of BankCo, it could not reach a conclusion in that respect.
Vendar v zvezi s tem ni mogla sprejeti sklepa, ker ni prejela poslovnega načrta, ki bi dejansko dokazoval sposobnost preživetja družbe BankCo.
The United Kingdom submitted a detailed business plan on 10 June 2009.
Združeno kraljestvo je podroben poslovni načrt predložilo 10. junija 2009.
According to the business plan, BankCo will be a viable bank after the split in both base and stress case scenarios.
V skladu s poslovnim načrtom bo družba BankCo po delitvi banka, ki bo sposobna preživeti v okviru osnovnega poteka dogodkov in v izjemnih situacijah.
The mortgage portfolio transferred to BankCo will have an average LTV of [62-67] %.
Hipotekarni portfelj, prenesen na družbo BankCo, bo imel povprečno LTV [62–67] %.
BankCo’s liabilities consist mainly of NR’s retail deposits (GBP 19,3 billion) and very limited wholesale deposits (GBP [1-3] billion).
Obveznosti družbe BankCo sestavljajo predvsem vloge na drobno banke NR (19,3 milijarde GBP) in zelo majhno število vlog na debelo ([1–3] milijarde GBP).
BankCo’s commercial strategy will be more conservative than NR’s. It will solely focus on the UK retail market.
Tržna strategija družbe BankCo bo bolj konservativna kot tržna strategija banke NR. Osredotočena bo izključno na maloprodajni trg Združenega kraljestva.
BankCo will operate as a mortgage and savings bank.
Družba BankCo bo delovala kot hipotekarna banka in hranilnica.
Its risk appetite will be conservative, in line with its commercial strategy.
Njena pripravljenost za tveganje bo v skladu z njeno tržno strategijo konservativna.
BankCo will target a single A/P1 rating.
Cilj družbe BankCo bo enotna bonitetna ocena A/P1.
As regards BankCo’s presence on the UK savings- and mortgage market, BankCo will not increase its presence on the market. As a result of the restructuring, BankCo will be one third of NR’s original size.
Družba BankCo ne bo povečala svoje prisotnosti na hranilniškem in hipotekarnem trgu Združenega kraljestva.
Its new lending will be limited to GBP 9 billion in 2010 compared to GBP 32,2 billion in 2007, which represents a market share of approximately 1,5 %.
Zaradi prestrukturiranja bo družba BankCo predstavljala tretjino prvotne velikosti banke NR. Njena nova posojila bodo leta 2010 omejena na 9 milijard GBP v primerjavi z 32,2 milijarde GBP leta 2007, kar pomeni tržni delež v višini približno 1,5 %.
BankCo’s market share of gross lending will be around [3-6] % compared to 9,7 % before the State intervention.
Tržni delež bruto posojil družbe BankCo bo znašal približno [3–6] % v primerjavi z 9,7 % pred državno intervencijo.
The funding used for writing residential mortgage loans will predominantly be based on retail deposits, starting with approximately [92-95] % of total funding being deposits in 2009 decreasing to a minimum of around [68-71] % in 2013 (compared to less than 30 % before the crisis).
Sredstva, uporabljena za pripravo stanovanjskih hipotekarnih kreditov, bodo pretežno temeljila na vlogah na drobno, pri čemer so leta 2009 na začetku približno [92–95] % skupnih sredstev bile vloge, leta 2013 pa so bodo zmanjšale na minimum, tj. približno [68–71] % (v primerjavi z manj kot 30 % pred krizo).
BankCo’s reliance on wholesale funding will be limited to approximately [22-35] % of its mortgage assets.
Odvisnost družbe BankCo od medbančnih kreditov bo omejena na približno [22–35] % njenih hipotekarnih sredstev.
Also, BankCo’s targeted weighted average LTV as regards new lending will be < [68-71] %, with no loans going above [94-97] % LTV.
Poleg tega bo ciljno tehtano povprečje LTV družbe BankCo v zvezi z novimi posojili < [68–71] %, pri čemer nobeno posojilo ne bo presegalo [94–97] % LTV.
It will focus on residential, owner-occupied, lending (around […] % of total lending) and will also undertake some buy-to-let lending (around […] %).
Osredotočena bo na posojila za lastniška stanovanja (približno […] % vseh posojil), prevzela pa bo tudi posojila za nakup z namenom oddaje v najem („buy-to-let“) (približno […] %).
It will no longer market the Together products (mortgages with LTV […] 125 % combined with an unsecured loan) and will not carry out commercial lending.
Ne bo več tržila „skupnih“ izdelkov (hipoteke z LTV […] 125 % skupaj z nezavarovanimi posojili) in ne bo izvajala komercialnih posojil.
BankCo’s lending, not taking into account any behavioural commitments, will be constrained by its reliance on retail deposits to fund its lending.
Posojila družbe BankCo bodo omejena zaradi njene odvisnosti od vlog na drobno za financiranje njenih posojil, pri čemer se ne upoštevajo zaveze v zvezi z ravnanjem.
BankCo intends to lend GBP [6-9] billion in 2010 and GBP [6-8] billion annually in 2011, 2012 and 2013.
Družba BankCo namerava za posojila porabiti [6–9] milijard GBP leta 2010 ter [6–8] milijard GBP letno v letih 2011, 2012 in 2013.
As regards its regulatory capital position, BankCo will be sufficiently capitalised through the GBP 1,4 billion recapitalisation after the split-up.
Kar zadeva njen predpisani kapitalski položaj, bo družba BankCo po delitvi dovolj kapitalizirana prek dokapitalizacije v višini 1,4 milijarde GBP.
This, together with the considerable amount of cash it receives, will result in a Tier-1 capital ratio of over [48-53] % at the time of the split-up, decreasing to around [16-21] % in 2013 as BankCo will have increased its lending by using the large amount of cash received and by raising new funding.
To bo skupaj z znatnim zneskom denarnih sredstev, ki jih prejema, prispevalo k deležu kapitala prvega reda v višini več kot [48–53] % med delitvijo, ki se bo leta 2013 zmanjšal na približno [16–21] %, ker bo družba BankCo povečala svoja posojila z visokim zneskom prejetih denarnih sredstev in zbiranjem novih sredstev.
BankCo is also sufficiently capitalised […].
Družba BankCo je prav tako dovolj kapitalizirana […].
According to the business plan, BankCo can […] of GBP […] billion-GBP […] billion in a severe scenario- while remaining viable.
V skladu s poslovnim načrtom lahko družba BankCo […] v višini […] milijard GBP – […] milijard GBP v resnih okoliščinah – in ostane sposobna preživeti.
Finally as regards liquidity, BankCo intents to maintain a liquidity ratio (cash over assets) of above [19-22] % in 2009-2013, which according to the United Kingdom is in line with the ratio maintained by building societies and above the average for more diversified UK banks (liquidity ratio between 5-10 %).
Kar zadeva likvidnost, namerava družba BankCo ohraniti stopnjo likvidnosti (denarna sredstva nad drugimi sredstvi) v višini več kot [19–22] % v obdobju 2009–2013, kar je po navedbah Združenega kraljestva v skladu s stopnjo, ki jo ohranjajo stanovanjske zadruge, in nad povprečjem bolj raznovrstnih bank v Združenem kraljestvu (stopnja likvidnosti med 5–10 %).
The core liquidity held by BankCo will cover [17-20] % of retail deposits and around [3-6] months of wholesale maturities.
Temeljna likvidnost družbe BankCo bo pokrivala [17–20] % vlog na drobno in približno [3–6] mesecev zapadlosti vlog na debelo.
The plan also contains information on the exit of BankCo out of TPO, which will have as a consequence the possibility for the State to recover part or all the money injected in NR, BankCo and AssetCo.
Načrt vsebuje tudi informacije o prenehanju delovanja družbe BankCo v okviru začasnega javnega lastništva, zaradi česar bo lahko država dobila povrnjen del ali ves denar, vložen v banko NR ter družbi BankCo in AssetCo.
On the basis of the foregoing, the Commission’s remaining doubts on the viability of BankCo have been allayed.
Na podlagi navedenega so bili preostali dvomi Komisije o sposobnosti preživetja družbe BankCo zmanjšani.
This conclusion is in line with the Commission’s initial assessment and the comments received from third parties in the context of the extension decision.
Ta ugotovitev je v skladu s prvotno oceno Komisije in pripombami, ki so jih v okviru odločitve o razširitvi postopka predložile tretje osebe.
Own contribution/burden-sharing
Lastni prispevek/porazdelitev bremena
The Restructuring Communication indicates that an appropriate contribution by the beneficiary is necessary in order to limit the aid to a minimum and to address distortions of competition and moral hazard.
Sporočilo o prestrukturiranju določa, da je ustrezni prispevek upravičenca potreben za omejitev pomoči na najmanjšo potrebno ter odpravo izkrivljanja konkurence in moralnega tveganja.
To that end: (a) both the restructuring costs and the amount of aid should be limited and (b) a significant own contribution is necessary.
Zato: (a) morajo biti stroški prestrukturiranja in znesek pomoči omejeni ter (b) je potreben znaten lastni prispevek.
The principles on the own contribution of the beneficiary bank in the restructuring phase are laid down in section 3 of the Restructuring Communication.
Načela lastnega prispevka banke upravičenke v fazi prestrukturiranja so določena v oddelku 3 sporočila o prestrukturiranju.
It requires (i) that the restructuring aid is limited to the minimum to cover costs necessary for restoring viability; (ii) that the beneficiary bank should use to the extent possible its own resources to finance restructuring, for example, through the sale of assets and (iii) that the costs associated with the restructuring are also adequately borne by those who invested in the bank by absorbing losses with available capital and by paying an adequate remuneration for State interventions.
Določa, (i) da mora biti pomoč za prestrukturiranje omejena na najmanjšo potrebno za kritje stroškov, potrebnih za obnovitev sposobnosti preživetja; (ii) da mora banka upravičenka za financiranje prestrukturiranja v največjem možnem obsegu uporabljati svoja sredstva, na primer s prodajo sredstev, in (iii) da stroške, povezane s prestrukturiranjem, ustrezno krijejo tudi tisti, ki so vložili v banko, tako da prevzamejo izgube z razpoložljivim kapitalom in plačajo ustrezno nadomestilo za državno intervencijo.
The objective of burden sharing is twofold: to limit distortions of competition and to address moral hazard [44].
Cilj porazdelitve bremena je dvojni: omejitev izkrivljanja konkurence in obravnava moralnega tveganja [44].
Limitation of restructuring costs
Omejitev stroškov prestrukturiranja
The Commission’s doubts on whether the aid is limited to the minimum necessary to restore long-term viability of NR (BankCo) have been allayed (see also recital 141).
Dvomi Komisije o tem, ali je pomoč omejena na najmanjšo potrebno za obnovitev dolgoročne sposobnosti preživetja banke NR (BankCo), so bili zmanjšani (glej tudi uvodno izjavo 141).
Indeed, the final restructuring plan does not foresee any new lending above pre-crisis levels or any acquisitions of new businesses.
Dejansko končni načrt za prestrukturiranje ne predvideva novih posojil nad ravnmi pred krizo ali pridobitve novih poslov.
BankCo’s lending target for 2011 will also decrease to GBP [6-8] billion.
Cilj posojil družbe BankCo za leto 2011 se bo tudi zmanjšal na [6–8] milijard GBP.
Taking this into account, the restructuring costs are limited to the minimum necessary.
Ob upoštevanju tega so stroški prestrukturiranja omejeni na najnižji potrebni znesek.
Limitation of the amount of aid, significant own contribution
Omejitev zneska pomoči, znaten lastni prispevek
In designing the restructuring plan, the United Kingdom has opted for a solution that requires less aid than foreseen in the initial restructuring plan.
Pri pripravi načrta za prestrukturiranje je Združeno kraljestvo izbralo rešitev, ki zahteva manj pomoči, kot je bilo predvideno v prvotnem načrtu za prestrukturiranje.
As mentioned in recital 23, the alternative to the split-up of NR would have been a continuation of NR, which would have required a capital injection of at least GBP 6 billion (compared to a maximum of GBP 3 billion in a stress case in the final restructuring plan).
Kot je bilo navedeno v uvodni izjavi 23, bi bila nadomestna možnost delitve banke NR njeno nadaljevanje, za katero bi bil potreben kapitalski vložek v višini vsaj 6 milijard GBP (v primerjavi z največ 3 milijardami GBP v izjemnih situacijah iz končnega načrta za prestrukturiranje).
Through the split-up, less capital is needed for BankCo and AssetCo combined, since AssetCo will operate solely as a mortgage lender and as a result will be subject to lower regulatory capital requirements compared to a regular bank.
Z delitvijo bi bilo potrebnega manj kapitala za družbi BankCo in AssetCo skupaj, ker bo družba AssetCo poslovala izključno na področju hipotekarnih posojil in bodo zato zanjo veljale nižje predpisane kapitalske zahteve kot za običajno banko.
The split-up therefore limits the aid necessary to ensure NR’s viability.
Zato je z delitvijo omejena pomoč, potrebna za zagotovitev sposobnosti preživetja banke NR.
Furthermore, as a result of the split-up, the mortgage portfolio of BankCo will have a LTV ratio that will be higher than that of most of the building societies, which can be considered its closest rivals, and BankCo’s ROE will remain significantly below that of UK banks and building societies until 2013.
Poleg tega bo imel zaradi delitve hipotekarni portfelj družbe BankCo razmerje LTV, ki bo višje od razmerja LTV večine stanovanjskih zadrug, ki se lahko štejejo za njene največje konkurente, ROE družbe BankCo pa bo ostal znatno nižji od ROE bank in stanovanjskih zadrug v Združenem kraljestvu do leta 2013.
Furthermore, in the prevailing market conditions the results of stress tests have to be taken into account to ascertain the viability of the bank [45].
Poleg tega je treba pri prevladujočih tržnih pogojih upoštevati rezultate testov izjemnih situacij, da se potrdi sposobnost preživetja banke [45].
The United Kingdom has demonstrated that if more impaired assets were to be transferred to BankCo, this would need to be counterbalanced by an additional capital injection to be provided by the State in order not to jeopardize long-term viability of the bank whilst maintaining limited lending to the real economy.
Združeno kraljestvo je dokazalo, da bi bilo ob prenosu več oslabljenih sredstev na družbo BankCo to treba izravnati z dodatnim kapitalskim vložkom, ki bi ga morala zagotoviti država, da se ne ogrozi dolgoročna sposobnost preživetja banke in se ohranijo omejena posojila realnemu gospodarstvu.
The restructuring costs are borne by the bank itself to the greatest extent possible through the redemption and the disposal of assets.
Stroške prestrukturiranja v največjem možnem obsegu prek odkupa in odtujitve sredstev krije banka.
The proceeds resulting from the active mortgage redemption programme have been used to repay the State.
Za povračilo državi so se uporabili prihodki iz programa odkupa aktivnih hipotek.
As a result, the BoE/HMT liquidity facility decreased from GBP 27 billion (end of 2007) to GBP 14,5 billion (30 June 2009).
Zato se je likvidnostno posojilo BoE/finančno ministrstvo zmanjšalo s 27 milijard GBP (konec leta 2007) na 14,5 milijarde GBP (30. junija 2009).
Secondly, NR has sold its HERM portfolio for approximately GBP 2,2 billion.
Drugič, banka NR je prodala svoj portfelj HERM za približno 2,2 milijarde GBP.