natgillin/translations-raw huggingface dataset:
To ensure that all management decisions between the date of this Decision and the implementation of the divestment are in the best interests of Centea and Fidea with a view to ensuring their continued economic viability, marketability and competitiveness, KBC shall appoint a hold separate manager [6] for each of these businesses and shall ensure that the hold separate manager operates independently.
Za zagotovitev, da bodo vse odločitve glede upravljanja med datumom sprejetja tega sklepa in izvedbo odsvojitve sprejete v najboljšem interesu družb Centea in Fidea z namenom, da se zagotovijo njuna nadaljnja gospodarska uspešnost, tržnost in konkurenčnost, bo KBC imenovala fiduciarja za ločeno upravljanje [6] za vsako od teh družb in bo zagotovila, da fiduciar za ločeno upravljanje deluje neodvisno.
A monitoring trustee will be appointed who is to report on a six monthly basis to the Commission on compliance by the Belgian authorities and by KBC with the commitments listed in points (xvi) to (xxiv).
Imenuje se fiduciar za spremljanje, ki mora Komisiji vsakih šest mesecev poročati o tem, kako belgijski organi oblasti in KBC spoštujejo zaveze iz točk (xvi) do (xxiv).
The monitoring trustee shall be independent, possess the necessary qualifications and shall not be subject to a conflict of interests throughout the exercise of his mandate
Fiduciar za spremljanje je neodvisen in ustrezno usposobljen, med celotnim trajanjem njegovega mandata pa ne sme prihajati do navzkrižja interesov.
The Commission shall have the discretion to approve or reject the proposed trustee(s) based on the criteria outlined in point (xxv).
Komisija ima diskrecijsko pravico, da odobri ali zavrne predlagane fiduciarje na podlagi meril iz točke (xxv).
as regards the divestments to be implemented […], the target date may be extended […], […], and subsequently […], […];
v zvezi z odsvojitvami, ki se bodo izvedle […] se rok lahko podaljša […], […], in naknadno […], […];
as regards the divestment to be implemented […], the target date may be extended […], […];
v zvezi z odsvojitvijo, ki se bo izvedla […] se rok lahko podaljša […], […];
The Commission shall authorize, subject to it having taken into consideration reasonable alternatives as proposed under the review arrangements as set out in recital 89, the divestiture trustee to sell the Divestment business concerned […].
Komisija na podlagi tega, da je upoštevala razumen druge možnosti, ki so predlagane v predpisih o pregledu iz uvodne izjave 89, pooblasti fiduciarja za odsvojitev za prodajo zadevnih družb za odsvojitev […].
From the date of this Decision until the completion of the run-down, KBC will respect a stand-still with regard to the amount of RWA [7] represented by these business portfolios.
KBC bo od datuma sprejetja tega sklepa do dokončanja likvidacije spoštovala mirovanje glede višine tveganju prilagojene aktive, [7] ki jo pomenijo ti poslovni portfelji.
These reports will contain information on the recapitalisation measures (as mentioned in point 40 of the Recapitalisation Communication [8]), the functioning of the State Protection measure (as mentioned in Annex IV to the Impaired Asset Communication, hereinafter ‘IAC’ [9]), and the restructuring plan (as mentioned in point 46 of the Restructuring Communication [10]).
Ta poročila bodo vsebovala podatke o ukrepih za dokapitalizacijo (kot je navedeno v točki 40 Sporočila o dokapitalizaciji [8]), delovanju državnega zaščitnega ukrepa (kot je navedeno v Prilogi IV k Sporočilu o oslabljenih sredstvih [9]) in načrtu prestrukturiranja (kot je navedeno v točki Sporočila o prestrukturiranju [10]).
It recorded a loss of EUR 2,5 billion in 2008. The market value of KBC has fallen significantly, from EUR 23 billion on 1 August 2008 to EUR 11,8 billion on 23 October 2009.
V letu 2008 je bila evidentirana izguba 2,5 milijarde EUR. Tržna vrednost KBC se je znatno zmanjšala, in sicer s 23 milijard EUR, kolikor je znašala 1. avgusta 2008, na 11,8 milijarde EUR, kolikor je znašala 23. oktobra 2009.
KBC employs 56716 people worldwide, 19196 of whom are in Belgium and 31947 of whom are in Central and Eastern Europe and Russia.
KBC po vsem svetu zaposluje 56716 ljudi, od tega 19196 v Belgiji, 31947 pa v Srednji in Vzhodni Evropi ter Rusiji.
The total portfolio has a nominal value of EUR […] [15] billion. The State Protection measure only covers the super-senior tranche of 15 specific CDOs, which total EUR 20 billion [16].
Celotni portfelj ima nominalno vrednost […] [15] milijard EUR. Državni zaščitni ukrep pokriva samo najbolj nadrejeno tranšo 15 posebnih CDO, katerih skupna vrednost je 20 milijard EUR [16].
The tranches outside the scope of the State Protection measure amount to EUR 3,9 billion. Losses in those tranches, which KBC will have to bear in full, need to be realised before the more senior guaranteed tranches are affected and the State Protection measure is triggered.
Vrednost tranš, ki jih državni zaščitni ukrep ne zajema, znaša 3,9 milijarde EUR. Izgube v teh tranšah, ki jih bo KBC morala nositi v celoti, je treba realizirati, preden bi to vplivalo na bolj nadrejene tranše in sprožilo državni zaščitni ukrep.
In the base case, it is assumed that GDP will contract in its main markets in the period 2009-2010 followed by a relatively quick recovery in 2011.
V osnovnem scenariju se predvideva, da naj bi se BDP na njenih glavnih trgih v obdobju 2009–2010 zmanjšal, temu pa naj bi sledilo razmeroma hitro okrevanje v letu 2011.
Equity prices are expected to recover in 2009 or 2010, depending on local market conditions.
Cene vrednostnih papirjev naj bi si po pričakovanjih opomogle v letu 2009 ali 2010, odvisno od razmer na lokalnem trgu.
In a base case, KBC will first generate surplus capital (when actual capital exceeds internal capital targets of a Tier 1 ratio of 10 %) in 2011.
KBC bo v osnovnem scenariju najprej v letu 2011 ustvarila presežek kapitala (ko dejanski kapital preseže cilje glede notranjega kapitala – 10-odstotni delež temeljnega kapitala prvega reda).
It will therefore start to repay the principal part of the State capital from 2012 onwards.
Tako bo začela od leta 2012 odplačevati glavni del državnega kapitala.
The buy-back of hybrids, leading to an estimated positive impact on KBC’s core capital of EUR […] million. KBC intends to buy, as it has already done in recent months, these hybrids at below par value, thus generating a profit that boosts core capital;
vnovični odkup hibridnih instrumentov, kar naj bi po ocenah privedlo do pozitivnega učinka na temeljni kapital KBC v višini […] milijonov EUR. KBC namerava te hibridne instrumente kupiti, kot je to že naredila v zadnjih mesecih, po ceni, ki je nižja od nominalne vrednosti, in tako ustvariti dobiček, ki bo okrepil temeljni kapital;
As regards the repayment of the Belgian authorities, the restructuring plan provides that, KBC, in a base case, will start to pay coupons from 2011 onwards, meaning that the Belgian authorities would receive EUR 600 million. The reimbursement of the principal amount of the recapitalisations will start once KBC has reinforced its capital position through the divestments and the financial restructuring (from 2012 onwards).
V zvezi z odplačilom belgijskih organov načrt prestrukturiranja določa, da bo KBC v osnovnem scenariju začela plačevati kupone od leta 2011, kar pomeni, da bi belgijski organi dobili 600 milijonov EUR. Vračilo glavnega zneska obeh dokapitalizacij se bo začelo, ko bo KBC okrepila kapitalski položaj z odsvojitvami in finančnim prestrukturiranjem (od leta 2012).
Therefore, in this case, the transfer value of the assets is EUR 14,8 billion [41], as the portfolio must suffer actual losses of EUR 9.1 billion (losses of EUR 3,9 billion in the non-super senior tranches, the first loss in the super-senior tranche of EUR 3,2 billion and the equity range EUR 2 billion) that have to be deducted from the EUR […] billion nominal value of the CDO portfolio. The market value of the CDO portfolio at the point of the transaction was EUR […] billion [42].
Tako je v tem primeru vrednost sredstev ob prenosu 14,8 milijarde EUR [41], saj mora portfelj utrpeti dejanske izgube v višini 9,1 milijarde EUR (izgube v višini 3,9 milijard EUR pri ne najbolj nadrejenih tranšah, prva izguba pri najbolj nadrejeni tranši v višini 3,2 milijarde EUR in kapitalski delež v višini 2 milijard EUR), ki jih je treba odšteti od nominalne vrednosti portfelja CDO v višini […] milijard EUR. Tržna vrednost portfelja CDO ob transakciji je bila […] milijard EUR [42].
Although the measure does not give liquidity and therefore cannot be exactly counted as a direct capital injection, the Commission considers that it could nevertheless be counted as additional aid, possibly up to nominal amount of EUR 1,8 billion. If it is counted as 100 % aid, the total aid element of all measures (two recapitalisations and State Protection measure) amounts to EUR 9,06 billion, or 5,1 % of RWA of KBC.
Čeprav ukrep ne daje likvidnosti in ga tako ni mogoče šteti za čisto neposreden kapitalski vložek, Komisija meni, da bi ga vseeno lahko šteli za dodatno pomoč, mogoče celo do nominalnega zneska 1,8 milijarde EUR. Če se ukrep šteje za stoodstotno pomoč, skupni element pomoči vseh ukrepov (dve dokapitalizaciji in državni zaščitni ukrep) znaša 9,06 milijarde EUR oziroma 5,1 % tveganju prilagojene aktive KBC.
In this case the transfer value is EUR 14,8 billion, while KBC states that the REV of the portfolio is EUR […] billion. It follows that if the REV is indeed EUR […] billion, then the measure meets the requirements of the IAC as regards valuation, as the transfer value would be below the REV.
V tem primeru je vrednost ob prenosu 14,8 milijarde EUR, medtem ko KBC navaja, da je realna gospodarska vrednost portfelja […] milijard EUR. Iz tega sledi, da če je realna gospodarska vrednost dejansko […] milijard EUR, potem ukrep izpolnjuje zahteve iz Sporočila o oslabljenih sredstvih v zvezi z vrednotenjem, saj bi bila vrednost ob prenosu nižja od realne gospodarske vrednosti.
That amounts to 650 bps per year on the principal amount of EUR 1.8 billion. The Commission recalls point 26 of the Recapitalisation Communication, which states that the price of recapitalisations should be in line with the Eurosystem Recommendations of 20 November 2008.
To znaša 650 bazičnih točk letno na glavnico v višini 1,8 milijarde EUR. Komisija opozarja na točko 26 Sporočila o dokapitalizaciji, ki določa, da mora biti cena dokapitalizacije v skladu s priporočili eurosistema z dne 20. novembra 2008, v katerih je navedeno, da mora biti zahtevana stopnja donosa na običajne delnice premija za tveganje v zvezi z lastniškimi finančnimi instrumenti v višini 500 bazičnih točk na leto [48].
As regards the limitation of the aid to the minimum necessary, the Commission notes that the capital injection will only be called upon if the relevant CDO portfolio suffers realised credit losses that exceed EUR 7,1 billion. If that situation arises, KBC, although it has already provisioned for losses exceeding this amount, will likely face significant difficulties and market uncertainties about its financial position.
Komisija v zvezi z omejitvijo pomoči na najmanjšo potrebno ugotavlja, da bo kapitalski vložek zahtevan samo, če bo zadevni portfelj CDO utrpel realizirane kreditne izgube, ki presegajo 7,1 milijarde EUR. V tem primeru bo KBC kljub pripravljenim rezervacijam za izgube, ki presegajo ta znesek, verjetno imela velike težave in se bo spopadala s tržno negotovostjo glede svojega finančnega položaja.
KBC’s Tier-1 ratio will increase from […] % in 2009 to […] % in 2013.
Razmerje temeljnega kapitala prvega reda KBC se bo z […] % v letu 2009 povečalo na […] % v letu 2013.
Given that the underlying business of KBC (excluding the losses generated by the KBC Financial Products division in CDOs and ABS) continued to generate profits throughout 2008 and 2009 to date, Commission considers the projections feasible.
Glede na to, da so s tem povezane poslovne dejavnosti KBC (razen izgub, ki jih je ustvarila divizija KBC Financial Products pri portfeljih CDO in ABS) še naprej ustvarjale dobiček v letih 2008 in 2009 vse do danes, Komisija meni, da so napovedi izvedljive.
As regards burden-sharing, the Commission observes that in the context of the State Protection measure, KBC, on a CDO portfolio with a nominal value of EUR 23,9 billion, will take a first loss of EUR 9,1 billion. On top of that it will assume a 10 % share of losses in the EUR 14,8 billion super-senior tranche insured by the Belgian authorities.
Komisija v zvezi z razdelitvijo bremena ugotavlja, da bo KBC v okviru državnega zaščitnega ukrepa pri portfelju CDO z nominalno vrednostjo 23,9 milijarde EUR utrpela prvo izgubo v višini 9,1 milijarde EUR. Poleg tega bo prevzela 10-odstotni delež izgub v višini 14,8 milijarde EUR v najbolj nadrejeni tranši, ki jih je zavarovala pri belgijskih organih.
In the event that the hybrid instrument is issued, it will be remunerated at the sum of the yield on Belgian 5 year bond, 3 % and five times the median of five-year CDS spreads of KBC calculated over the period starting on 1 January 2007 and ending on 31 August 2008.
Če se izda hibridni instrument, se ta obrestuje po vsoti donosa na belgijsko petletno obveznico, 3 % in petkratnika povprečnih razmikov poslov kreditnih zamenjav KBC, ki se izračuna za obdobje od 1. januarja 2007 do 31. avgusta 2008.
Using current figures, that would equate to a yield of 8,5 % (2,82 % + 3 % + (5*,0535) = 8,5 %.
Glede na sedanje podatke bi to pomenilo 8,5-odstotni donos (2,82 % + 3 % + (5 * 0,0535) = 8,5 %.
Furthermore, the increased volatility of credit spreads, which had a direct negative impact on the mark-to-market valuation of the CDOs, led to negative value adjustments of EUR 3,8 billion in KBC’s accounts for the first quarter of 2009.
Poleg tega je večja nestanovitnost kreditnih razmikov, ki je neposredno neugodno vplivala na vrednotenje CDO glede na tržno vrednost, privedla do negativnega popravka vrednosti v višini 3,8 milijarde EUR v poslovnih knjigah KBC za prvo četrtletje leta 2009.
In order to avoid any further negative impact of the CDO portfolio on KBC’s profit and loss account in the future, KBC reached an agreement with the Belgian authorities on 14 May 2009 on a State Protection measure for its super-senior CDO portfolio.
Da bi se izognili nadaljnjemu negativnemu vplivu portfelja CDO na izkaz poslovnega izida KBC v prihodnosti, se je KBC z belgijskimi organi 14. maja 2009 dogovorila o državnem zaščitnem ukrepu za najbolj nadrejeni portfelj dolžniških vrednostnih papirjev.
KBC will continue to focus on CEE-R. It also will reduce its overall risk profile, volatility and leverage.
KBC se bo še naprej osredotočala na območje Srednje in Vzhodne Evrope ter Rusije, poleg tega pa bo tudi zmanjšala splošni profil tveganja, nestanovitnost in finančni vzvod.
In the restructuring plan, KBC assumes that revenues and profits will return to approximately pre-crisis levels in a base case, with revenues of EUR […] billion in 2009, increasing to EUR […] billion in 2013 and a projected net profit (loss) of EUR -[…] billion in 2009 increasing to EUR […] billion in 2013.
KBC v načrtu prestrukturiranja predvideva, da se bodo v osnovnem scenariju prihodki in dobički vrnili približno na raven, na kateri so bili pred krizo, tako da se bodo prihodki v letu 2009 z višine […] milijard EUR povečali na […] milijard EUR v letu 2013, pričakovani neto dobiček (izguba) pa se bo z –[…] milijard EUR v letu 2009 povečal na […] milijard EUR v letu 2013.
Most of the impairments will be taken in 2008 (EUR […] billion) and 2009 (EUR […] billion).
Do večine oslabitev je prihajalo v letu 2008 ([…] milijard EUR) in letu 2009 ([…] milijard EUR).
The Belgian authorities submitted the final restructuring plan on the due date. The plan addresses the substantive issues of viability, burden-sharing and limiting distortion of competition.
Belgijski organi so na zahtevani datum predložili končni načrt prestrukturiranja, ki obravnava vsebinska vprašanja uspešnega poslovanja, delitve bremen in omejevanja izkrivljanja konkurence.
According to the restructuring plan, KBC will become a smaller, more focused group, withdrawing from risky activities and countries where it has a limited market presence. KBC will only retain activities that deliver sustainable results on a stand-alone basis. It will also retain its bancassurance model.
KBC bo v skladu z načrtom prestrukturiranja postala manjša in bolj usmerjena skupina, ki se bo umaknila iz tveganih dejavnosti in tistih držav, na katerih trgih ima manjšo prisotnost.
The Commission’s doubts regarding the remuneration paid by KBC have been allayed. The Commission notes that the State Protection measure has a capital relief effect of EUR 504 million. As noted in point 21 of IAC and footnote 11 attached thereto, an asset relief mechanism should be remunerated the same way as a capital injection.
Komisija se je znebila pomislekov glede nadomestil, ki jih plačuje KBC, saj ugotavlja, da ima državni zaščitni ukrep kapitalski učinek pomoči v višini 504 milijonov EUR. Kot je navedeno v točki 21 Sporočila o oslabljenih sredstvih in opombi 11 k tej točki, se mora mehanizem finančne pomoči za oslabljena sredstva odplačati enako kot kapitalski vložek.
These, in turn, state that the required rate of return on ordinary shares should be the equity risk premium of 500 bps per annum [48]. In this case, the underwriting premium can be considered as the equity risk premium described in the Eurosystem Recommendations.
V tem primeru je premijo za zavarovanje mogoče šteti za premijo za tveganje v zvezi z lastniškimi finančnimi instrumenti, opisano v priporočilih eurosistema.
of 15 July 2010
z dne 15. julija 2010
on the conclusion of a Memorandum of Understanding between the European Commission and the International Atomic Energy Agency concerning the EURDEP (EUropean Radiological Data Exchange Platform)
o sklenitvi Memoranduma o soglasju med Evropsko komisijo in Mednarodno agencijo za atomsko energijo v zvezi z Evropsko radiološko platformo za izmenjavo podatkov (EURDEP)
Having regard to the Treaty establishing the European Atomic Energy Community, and in particular Article 199, thereof,
ob upoštevanju Pogodbe o ustanovitvi Evropske skupnosti za atomsko energijo in zlasti člena 199 Pogodbe,
Under the Treaty establishing the European Atomic Energy Community Article 35 Member States are obliged to establish facilities to carry out continuous monitoring of the radioactivity in the environment on their territory, and the Commission has the right of access to such facilities.
V skladu s členom 35 Pogodbe o ustanovitvi Evropske skupnosti za atomsko energijo morajo države članice na svojem teritoriju postaviti naprave za stalno izvajanje nadzora stopnje radioaktivnosti v okolju, Komisija pa ima pravico dostopa do takih naprav za nadzor.
The European Commission has, in this context, developed a common data format called EURDEP (EUropean Radiological Data Exchange Platform) as well as an appropriate Internet based network in order to facilitate continuous and seamless exchange of data provided by the national automatic dose rate monitoring networks and the environment radiation surveillance programmes, that have been in use in the European Atomic Energy Community for several years and are now considered mature enough for expansion.
V okviru tega je Evropska komisija razvila skupni format podatkov EURDEP (Evropska radiološka platforma za izmenjavo podatkov), poleg tega pa še ustrezno spletno omrežje, da bi olajšala neprestano in tekočo izmenjavo podatkov, ki jih prenašajo samodejna nacionalna omrežja za nadzor količine ter programi za nadzor sevanja v okolju, ki so pri Evropski skupnosti za atomsko energijo v uporabi že več let in so zdaj dovolj zreli za razširitev.
The European Commission and the International Atomic Energy Agency (IAEA) have expressed a mutual determination to significantly reinforce the quality and intensity of their cooperation in a Joint Statement signed in 2008.
Evropska komisija in Mednarodna agencija za atomsko energijo (IAEA) sta v skupni izjavi, ki sta jo podpisali leta 2008, izrazili vzajemno odločnost, da znatno okrepita kakovost in intenzivnost medsebojnega sodelovanja.
Radiation protection, including making worldwide real time radiation monitoring data available, has been identified as one of the specific priority areas of cooperation.
Zaščita pred sevanjem, vključno z omogočanjem dostopa do podatkov o nadzoru sevanja v realnem času s celega sveta, je bila opredeljena kot ena izmed specifičnih prednostnih področij sodelovanja.
Using the proven technology developed by the European Commission for EURDEP is an excellent way to facilitate automatic exchange of data, and represents an important contribution to the global development of environmental radioactivity monitoring.
Uporaba preizkušene tehnologije, ki jo je Evropska komisija razvila za EURDEP, je odlična rešitev za omogočanje avtomatske izmenjave podatkov in predstavlja pomemben doprinos h globalnemu razvoju nadzora radioaktivnosti v okolju.
Making EURDEP technology available to the IAEA is in the European Atomic Energy Community’s interest, since through the IAEA contribution the European network participants will have access to the environmental radioactivity monitoring data from all over the world.
Omogočanje dostopa Mednarodni agenciji za atomsko energijo (IAEA) do tehnologije EURDEP je v interesu Evropske skupnosti za atomsko energijo, saj bodo s pomočjo prispevka IAEA sodelujoči pri Evropskem omrežju imeli dostop do podatkov v zvezi z nadzorom radioaktivnosti v okolju s celega sveta.
In this context, the present Memorandum of Understanding has been developed, in the context of the relations between Euratom and the IAEA, to cover the technical aspects of the cooperation between the IAEA and Euratom on EURDEP.
V tem okviru je bil pripravljen ta memorandum o soglasju, in sicer v kontekstu odnosov med Euratomom in IAEA, da se opredelijo tehnični vidiki sodelovanja med IAEA in Euratomom na področju EURDEP.
No financial implications or legal obligations are incurred on the basis of the present Memorandum of Understanding,
S tem memorandumom o soglasju niso povezane nikakršne finančne posledice ali pravne obveznosti –
The Memorandum of Understanding in annex between the European Commission and the International Atomic Energy Agency concerning the EURDEP (EUropean Radiological Data Exchange Platform) is approved.
Memorandum o soglasju med Evropsko komisijo in Mednarodno agencijo za atomsko energijo v zvezi z Evropsko radiološko platformo za izmenjavo podatkov (EURDEP) iz Priloge se odobri.
The Commissioner for Energy Günther Oettinger signs the Memorandum of Understanding between the European Commission and the International Atomic Energy Agency concerning the EURDEP (EUropean Radiological Data Exchange Platform) on behalf of the Commission.
Komisar za energetiko Günther Oettinger v imenu Komisije podpiše Memorandum o soglasju med Evropsko komisijo in Mednarodno agencijo za atomsko energijo v zvezi z Evropsko radiološko platformo za izmenjavo podatkov (EURDEP).
Done at Brussels, 15 July 2010.
V Bruslju, 15. julija 2010
Memorandum of Understanding between the European Commission and the International Atomic Energy Agency concerning the EURDEP (European Radiological Data Exchange Platform)
Memorandum o soglasju med Evropsko komisijo in Mednarodno agencijo za atomsko energijo v zvezi z Evropsko radiološko platformo za izmenjavo podatkov (EURDEP)
The European Commission, hereinafter referred to as ‘the Commission’, and the International Atomic Energy Agency, hereinafter referred to as ‘the IAEA’ (jointly hereinafter referred to as ‘the Sides’),
Evropska komisija (v nadaljevanju: Komisija) in Mednarodna agencija za atomsko energijo (v nadaljevanju: IAEA) (v nadaljevanju skupaj: strani)
Purpose of this Memorandum of Understanding
Namen memoranduma o soglasju
Under this Memorandum of Understanding, the Commission and the IAEA agree to cooperate in the area of global real time radiation data exchange for verification and other emergency purposes.
S tem memorandumom o soglasju se Komisija in IAEA dogovorita, da bosta sodelovali na področju globalne izmenjave podatkov o sevanju v realnem času za preverjanje in druge nujne namene.