natgillin/translations-raw huggingface dataset:
Additional measures to dispel any objections under competition law regarding the characteristics of the markets in which the beneficiary bank will be active after the restructuring (cf. paragraph 32 of the Restructuring Communication) are not necessary.
Dodatni ukrepi za odpravo pomislekov glede konkurence, ki se nanašajo na značilnost trgov, na katerih bo banka upravičenka poslovala po prestrukturiranju (glej točko 32 sporočila o prestrukturiranju), niso potrebni.
This is justified by the low market presence of the restructured bank.
To je utemeljeno z majhno navzočnostjo prestrukturirane banke na trgu.
In principle LBBW has a strong market presence only in its core region of Baden-Württemberg.
Načeloma ostaja LBBW trdno navzoča na trgu v osnovni regiji Baden-Württemberg.
Its systemic importance does not lie in its strong position as a domestic credit provider but is justified by its interconnection with other banks and institutional investors.
Banka sistemsko ni pomembna zaradi svojega močnega položaja domačega posojilodajalca, temveč bolj zaradi prepletenosti z drugimi bankami in institucionalnimi vlagatelji.
For this reason no additional measures are necessary to ensure and restore a competitive market.
Zato niso potrebni dodatni ukrepi za zagotovitev oziroma ponovno vzpostavitev konkurenčnega trga.
However, the Commission considers it positive that LBBW also envisages sales in its core markets.
Komisija vendarle ocenjuje kot pozitivno, da LBBW predvideva odprodaje tudi na njenih glavnih trgih.
The planned reduction in the core business areas should open up more business opportunities for competitors in the core regions and may be regarded as a further element in the comprehensive restructuring.
Načrtovano zmanjšanje osnovnih poslovnih področij bi lahko odprlo več poslovnih možnosti konkurentom v osnovnih regijah in lahko velja kot dodatni element obsežnega prestrukturiranja.
In addition to these far-reaching structural measures LBBW has promised to comply with a number of behavioural obligations.
Poleg teh daljnosežnih strukturnih ukrepov je LBBW zagotovila, da bo spoštovala vrsto zavez glede ravnanj.
These commitments go beyond the mere obligation to dispense with aggressive marketing.
Te obljube presegajo golo obveznost, da se bo odpovedala agresivnemu trženju.
Germany has undertaken that in its core markets, i.e. in the German SME and private customer business in Germany, LBBW must not offer more favourable conditions than the conditions of the most favourable of its ten most important competitors by market share for three years.
Nemčija je obljubila, da LBBW na glavnih trgih, to je na področju poslovanja z malimi in srednje velikimi podjetji in zasebnega bančništva v Nemčiji, tri leta ne sme ponujati ugodnejših pogojev od pogojev desetih najpomembnejših tekmecev po tržnem deležu.
LBBW should therefore not be able to offer better terms than competitors which have not received any State aid.
LBBW torej ne bi smela biti v položaju, da ponudi boljše pogoje kot tekmeci, ki niso prejeli državne pomoči.
In addition LBBW has agreed to a ban on acquisitions under which the bank may not acquire any competing undertaking.
Poleg tega se je LBBW strinjala s prepovedjo pridobitev, v skladu s katero banka ne sme pridobiti konkurenčnih podjetij.
This prevents aid-financed inorganic growth of LBBW.
To preprečuje neorgansko rast LBBW, financirano z državno pomočjo.
In addition the commitment that a double-digit return on equity will be sought and that reference interest rates which involve no distortions due to guarantor liabilities will be used for new business means that the risk and the likelihood of competition on price rather than performance with competing banks which have not received any State aid will be reduced.
Poleg tega sta se z zagotovitvijo, da si bo banka srednjeročno prizadevala za dvomestno donosnost lastnega kapitala in da bodo določene referenčne obrestne mere za nove posle, ki ne vsebujejo izkrivljanja na podlagi obveznosti jamstva garanta, zmanjšala tveganje in možnost konkurence s konkurenčnimi bankami, ki niso prejele državne pomoči, ki ne bo temeljila na storitvah, temveč ceni.
Moreover greater transparency will be ensured through a new corporate structure in which the business segment to be wound up is clearly separated from the core business areas and through a redifferentiation and separation of the various business segments.
Poleg tega bo z novo strukturo podjetja, v kateri bo poslovno področje, ki naj bi ga ukinili, jasno ločeno od osnovnih poslovnih področij, ter z novo razmejitvijo in ločitvijo različnih panog poslovanja poskrbljeno za večjo preglednost.
Through a considerable reduction in capital market business there will be fewer opportunities to conceal any unsatisfactory operating results in the credit business, with the result that market discipline will improve and potential distortions of competition will be reduced.
Z znatnim zmanjšanjem poslovanja na kapitalskem trgu je manj možnosti za prikrivanje morebitnih nezadovoljivih operativnih rezultatov iz kreditnega poslovanja, tako da se bo izboljšala tržna disciplina in s tem zmanjšalo potencialno izkrivljanje konkurence.
In view of this bundle of measures the Commission has reached the conclusion that sufficient precautions have been taken to limit any distortions of competition despite the high level of aid for LBBW.
Ob upoštevanju tega svežnja različnih ukrepov, ki se med seboj dopolnjujejo, Komisija ugotavlja, da je bilo sprejetih dovolj preventivnih zaščitnih ukrepov za omejitev morebitnega izkrivljanja konkurence kljub visoki pomoči za LBBW.
Implementation and monitoring
Izvajanje in spremljanje
In accordance with section 5 of the Restructuring Communication the Commission must be regularly presented with detailed reports so that it can investigate whether the restructuring plan is being properly implemented.
V skladu z razdelkom 5 sporočila o prestrukturiranju je treba Komisiji redno zagotavljati podrobna poročila, da bi preverila, ali se načrt prestrukturiranja ustrezno izvaja.
The first report should be presented to the Commission no later than six months after approval of the restructuring plan.
Prvo poročilo je treba predložiti Komisiji najpozneje šest mesecev po odobritvi načrta prestrukturiranja.
In order to examine whether the restructuring plan is being properly implemented, Germany will appoint a trustee responsible for monitoring and submitting a progress report each year.
Da bi Komisija lahko preverila, ali se načrt prestrukturiranja pravilno izvaja, bo Nemčija imenovala skrbnika, pristojnega za spremljanje, in vsako leto predložila poročilo o napredku.
It is the practice of the Commission to allow a Member State to adjust the commitments in the event of extraordinary circumstances [24].
Praksa Komisije je, da državi članici v primeru izrednih okoliščin dovoli prilagoditev zagotovil [24].
If it is objectively justified, the Commission will therefore agree on the request of Germany to extensions in the implementation deadlines or the annulment and/or replacement of individual measures or all the measures it has committed to.
Zato bo Komisija, kadar bo stvarno utemeljeno, na zahtevo Nemčije odobrila podaljšanja rokov za izvedbo ali ukinitev in/ali nadomestitev enega ali vseh zagotovljenih ukrepov.
In view of the modifications made by Germany on 3 December 2009 the Commission comes to the conclusion that the asset relief measure is in accord with the Impaired Assets Communication and consequently in accordance with Article 107(3)(b) TFEU is compatible with the internal market.
Prvič, Komisija je glede sprememb, ki jih je 3. decembra 2009 predložila Nemčija, ugotovila, da je ukrep pomoči skladen s sporočilom o oslabljenih sredstvih in posledično združljiv z notranjim trgom po členu 107(3)(b) PDEU.
The objections under competition law set out by the Commission in the opening decision of 30 June 2009 have been dispelled with this modified measure.
S tem spremenjenim ukrepom so bili odpravljeni pomisleki Komisije glede konkurence, ki jih je navedla v odločitvi o sprožitvi postopka z dne 30. junija 2009.
Secondly the Commission comes to the conclusion that the restructuring measures are appropriate to restore the long-term viability of LBBW, that they ensure sufficient burden sharing and that they are suitable and appropriate to make up for the distortions of competition due to the aid measures in question.
Drugič, Komisija ugotavlja, da so ukrepi prestrukturiranja primerni za ponovno vzpostavitev dolgoročno uspešnega poslovanja LBBW, da poskrbijo za zadostno porazdelitev bremena, ter da so primerni in ustrezni, da odtehtajo izkrivljanje konkurence, pogojeno z obravnavanimi ukrepi pomoči.
The submitted restructuring plan for LBBW fulfils the criteria of the Restructuring Communication, with the result that the restructuring measures may be deemed to be compatible with the internal market in accordance with Article 107(3)(b) TFEU.
Predloženi načrt prestrukturiranja LBBW izpolnjuje merila sporočila o prestrukturiranju, tako da ukrepi prestrukturiranja v skladu s členom 107(3)(b) PDEU lahko obveljajo za združljive z notranjim trgom.
The capital injection and the guarantees, as envisaged in the restructuring plan, can therefore be approved,
Zato se kapitalska injekcija in jamstva, kot je predvideno v načrtu prestrukturiranja, lahko odobrijo –
HAS ADOPTED THE FOLLOWING DECISION:
SPREJELA NASLEDNJI SKLEP:
The asset relief measure by the State of Baden-Württemberg in favour of the Landesbank Baden-Württemberg for two portfolios of impaired structured securities represents state aid within the meaning of Article 107(1) TFEU.
Ukrep pomoči, ki ga je dežela Baden-Württemberg odobrila v korist Landesbank Baden-Württemberg za dva portfelja z oslabljenimi strukturiranimi vrednostnimi papirji, pomeni državno pomoč v smislu člena 107(1) PDEU.
The aid is compatible with the internal market.
Pomoč je združljiva z notranjim trgom.
The restructuring aid which was granted to the Landesbank Baden-Württemberg by its state shareholders represents aid within the meaning of Article 107(1) TFEU.
Pomoč za prestrukturiranje, ki so jo Landesbank Baden-Württemberg odobrili njeni državni imetniki deležev, pomeni državno pomoč v smislu člena 107(1) PDEU.
The aid is compatible with the internal market on condition that the commitments in the annex to this Decision are complied with.
Pomoč je združljiva z notranjim trgom, če bodo izpolnjene obljube iz priloge k temu sklepu.
With effect from 1 December 2009, Articles 81 and 82 of the EC Treaty have become Articles 101 and 102, respectively, of the TFEU; the two sets of provisions are in substance identical.
Namesto členov 87 in 88 Pogodbe ES od 1. decembra 2009 veljata člena 107 in 108 PDEU. Člena 87 in 88 Pogodbe ES sta enaka členoma 107 in 108 PDEU.
For the purposes of this Decision, references to Articles 101 and 102 of the TFEU should be understood as references to Articles 81 and 82, respectively, of the EC Treaty where appropriate.
V tem sklepu je treba sklicevanja na člena 107 in 108 PDEU razumeti kot sklicevanja na člena 87 in 88 Pogodbe ES.
OJ C 248, 16.10.2009, p. 9.
UL C 248, 16.10.2009, str. 9.
Confidential information, also shown thus […] below.
Zaupni podatki, ki so tudi v nadaljevanju označeni z oglatim oklepajem […].
See the opening decision for details.
Glede podrobnosti glej odločitev o sprožitvi postopka.
Germany asserts that LBBW, according to its experts in the Stress Case, will only have to reckon on around [30-40] % of the total anticipated losses in the next five years.
Nemčija trdi, da mora LBBW po izjavah strokovnjakov v naslednjih petih letih po najslabšem scenariju računati le na približno [30–40] % celotnih pričakovanih izgub.
By 2020 according to Germany only EUR [1-2] billion of the anticipated losses would be incurred (i.e. less than the First Loss fixed at EUR 1,9 billion).
Po podatkih Nemčije bosta do leta 2020 nastali le [1–2] milijardi EUR pričakovanih izgub (to je manj od predvidene prve izgube v znesku 1,9 milijarde EUR).
See Commission Decision in Case C 9/08 of 4 June 2008, Sachsen LB (OJ L 104, 24.4.2009, p. 34).
Glej odločbo Komisije v zadevi C 9/08 z dne 4. junija 2008, SachsenLB (UL L 104, 24.4.2009, str. 34).
See also footnote 4 of the opening decision.
Glej tudi opombo 4 odločitve o sprožitvi postopka.
As a particularly large disinvestment Germany mentions the sale of LBBW Securities LLC (broker/dealer), […] and LRI Invest SA.
Kot posebej veliko dezinvesticijo navaja Nemčija odprodajo LBBW Securities LLC (broker/dealer), […] in LRI Invest S.A. LBBW Securities LLC je član U.S.
LBBW Securities LLC is a member of the US National Association of Securities Dealers and has a licence there for equity sales und private placements.
National Association of Securities Dealers in ima licenco za Equity Sales in Private Placements.
It is the sole subsidiary of LBBW which offers such services to LBBW customers.
Je edina hčerinska družba LBBW, ki za stranke LBBW opravlja tovrstne storitve.
[…] is the only provider of […] in LBBW.
[…] je edini ponudnik […] v LBBW.
LRI Invest SA administers investment funds, including funds whose shares belong partially to private banking customers of BW Bank (to a value of […] EUR).
LRI Invest S.A. upravlja investicijske sklade, vključno s skladi, katerih deleži deloma pripadajo strankam BW Bank na področju zasebnega bančništva (v vrednosti […] EUR).
In addition LRI Invest SA is the only LBBW company which can issue […] in […].
Poleg tega je LRI Invest S.A. edina družba LBBW, ki lahko izda […] v […].
Some other sales also directly concern the core business with German SME business customers, private customers and institutional customers, thus for example the European LBBW subsidiaries […] and LBBW Luxembourg, which mainly serve German customers in the LBBW core markets in activities outside the domestic market.
Nekatere druge prodaje poleg tega neposredno zadevajo osnovno dejavnost s srednje velikimi podjetji, zasebnimi strankami in institucionalnimi strankami, kot so na primer evropska hčerinska družba LBBW […] in LBBW Luxembourg, ki predvsem zagotavljajo storitve nemškim strankam na osnovnih trgih LBBW pri dejavnostih zunaj domačega trga.
OJ L 177, 20.6.2006, p. 1.
UL L 177, 20.6.2006, str. 1.
Amended by Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management (OJ L 302, 17.11.2009, p. 97).
Spremenjena z Direktivo 2009/111/ES Evropskega parlamenta in Sveta z dne 16. septembra 2009 o spremembi direktiv 2006/48/ES, 2006/49/ES in 2007/64/ES glede bank, ki so odvisne od centralnih institucij, nekaterih postavk lastnih sredstev, velikih izpostavljenosti, nadzornih režimov in kriznega upravljanja (UL L 302, 17.11.2009, str. 97).
Source: Letter from Germany of 3 December 2009.
Vir: Dopis Nemčije z dne 3. decembra 2009.
OJ C 270, 25.10.2008, p. 8.
UL C 270, 25.10.2008, str. 8.
OJ C 10, 15.1.2009, p. 2.
UL C 10, 15.1.2009, str. 2.
OJ C 195, 19.8.2009, p. 9.
UL C 195, 19.8.2009, str. 9.
This Communication was used for the first time in the Commission Decision of 13 March 2009 in State aid case C 9/09, Dexia (not yet published).
To sporočilo je bilo prvič uporabljeno v odločbi Komisije z dne 13. marca 2009 v zadevi C 9/09, Dexia (še neobjavljena).
Recovery is also unaffected by a unilateral termination unless the guarantee is reduced to an amount of less than EUR 1,5 billion. In this case all further losses should be borne by LBBW.
Enostranska odpoved ne vpliva na vračilo pomoči, razen če se jamstvo zmanjša na znesek, ki je nižji od 1,5 milijarde EUR. V tem primeru nosi nadaljnje izgube LBBW.
See in particular footnote 4.
Glej predvsem opombo 4.
Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (OJ L 177, 30.6.2006, p. 201).
Direktiva 2006/48/ES Evropskega parlamenta in Sveta z dne 14. junija 2006 o začetku opravljanja in opravljanju dejavnosti kreditnih institucij (preoblikovano), UL L 177, 30.6.2006, str. 201.
Commission Decision of 31 July 2009 in State aid case N 314/09, German asset relief scheme (OJ C 199, 25.8.2009, p. 3.
Odločba Komisije z dne 31. julija 2009 v zadevi N 314/09, Nemška shema finančne pomoči za oslabljena sredstva (UL C 199/3, 25.8.2009).
This is expressly referred to in paragraph 42 of the Banking Communication of October 2008.
Na to se izrecno sklicuje v točki 42 sporočila o bančništvu iz oktobra 2008.
See Commission Decision of 22 October 2008 in Case C 10/08, IKB, (OJ L 278, 23.10.2009, p. 32).
Glej odločbo Komisije z dne 22. oktobra 2008 v zadevi C 10/08, IKB,UL L 278, 23.10.2009, str. 32.
Germany has undertaken that LBBW will implement the restructuring plan and has passed on the following commitments (with regard to the reduction of the balance sheet, impaired assets and sales) and behavioural obligations:
Nemčija je zagotovila, da bo LBBW uresničila načrt prestrukturiranja, ter posredovala naslednja zagotovila (v zvezi z zmanjšanjem bilančne vsote in portfeljem tveganih sredstev ter odprodajami) in zaveze glede ravnanj:
The Federal German Government and LBBW promise that LBBW will observe the following behavioural obligations:
Zvezna vlada in LBBW zagotavljata, da se bo LBBW držala naslednjih zavez glede ravnanj:
LBBW will assist in a general consolidation of Landesbanks in accordance with economic principles and LBBW’s business model.
LBBW bo ob upoštevanju gospodarskih načel in v okviru svojega novega poslovnega modela prispevala k splošni konsolidaciji deželnih bank.
In the markets in which it has a significant market share, i.e. in the German SME and private customer business, LBBW will until 31 December 2012 not offer any more favourable prices than the prices of the most favourable of its 10 most important competitors (by market share).
LBBW na trgih, kjer ima znaten tržni delež, to je pri poslovanju s srednje velikimi podjetji in zasebnimi strankami, do 31. decembra 2012 ne bo ponujala cen, ki bi bile ugodnejše od cen njenih desetih najugodnejših in najpomembnejših tekmecev (glede na tržni delež).
LBBW will not will not use the granting of this aid or any advantages over competitors arising out of the aid for advertising purposes.
LBBW dodelitve ukrepov pomoči ali prednosti, ki iz tega izhajajo, ne bo izkoristila zoper druge tekmece.
Furthermore LBBW will review its internal incentive schemes and takes steps to ensure that they do not encourage unreasonable risk-taking, are geared towards long-term and sustainable goals, and are transparent.
Dalje bo preverila ustreznost svojih notranjih sistemov spodbud in si prizadevala, da ti ne bodo zavajali v neprimerna tveganja ter da bodo usmerjeni v dolgoročne podjetniške cilje in pregledni.
LBBW will report on the savings bank business from 31 December 2010 onwards.
LBBW bo od 31. decembra 2010 dejavnost hranilnic prikazovala ločeno.
LBBW will pay an additional annual compensation of 3,75 % on the part of the guarantee for the portfolio of securitised products which will not exceed EUR 1,5 billion. In other words, LBBW will pay this additional compensation in full as long as the guarantee amount incurred on the portfolio is still at least EUR 1,5 billion; if the amount of the guarantee falls below EUR 1,5 billion, only a compensation of 3,75 % is to be paid on the outstanding amount of the guarantee.
LBBW plača dodatno letno povračilo v vrednosti 3,75 % delnega zneska jamstva za portfelj listinjenja, ki ne presega 1,5 milijarde EUR. To pomeni, da bo LBBW plačevala polni znesek tega dodatnega povračila, dokler znesek jamstva, ki odpade na portfelj listinjenja, znaša še vsaj 1,5 milijarde EUR; če pade znesek jamstva pod 1,5 milijarde EUR, se plačuje le še nadomestilo v vrednosti 3,75 % še ne plačanega zneska jamstva.
The normal approval reservations of the Supervisory Board will exist for transactions of fundamental importance.
Za posle, ki so temeljnega pomena, ima nadzorni svet za pristanek na voljo običajne pridržke.
Instructions, whether from the Supervisory Board or the owners’ or annual general meetings are excluded.
Navodila nadzornega sveta, skupščine lastnikov ali generalne skupščine so izključena.
All the members of the Supervisory Board are to have the qualifications laid down in the latest version of the Capital Requirements Directive/section 36(3)(1) of the Banking Act [Gesetz über das Kreditwesen].
Vsi člani nadzornega sveta morajo biti primerni, kot je predvideno v zadnji različici direktive o kapitalskih zahtevah oziroma prvem stavku člena 36(3) KWG.
The report is to show the date of sale or closure, the book value at 31 December 2008, the selling price, and all profits or losses in connection with the sale or closure.
Treba je navesti datum prodaje ali zaprtja, knjigovodsko vrednost na dan 31. decembra 2008, nakupno ceno ter vse dobičke in izgube v zvezi s prodajo ali zaprtjem.
The report is to be sent each year within one month of the approval of LBBW’s annual accounts by LBBW’s Administrative Board (or supervisory board), but no later than 31 May.
Upravni odbor (oziroma nadzorni svet) LBBW predloži poročilo v enem mesecu po odobritvi zaključka poslovnega leta za LBBW, vendar vsako leto najpozneje do 31. maja.
Source: Letter from Germany of […].’
Vir: dopis Nemčije z dne […].“
The Bank has been granted two aid measures: an injection of EUR 5 billion of Tier 1 capital and an impaired asset relief measure through the taking over of guarantees of over EUR 12,7 billion for two portfolios of structured securities amounting to EUR 35 billion in total [6].
Banki sta bila odobrena dva ukrepa pomoči: injekcija temeljnega kapitala v znesku 5 milijard EUR in ukrep pomoči s prevzemom jamstev v znesku, ki je presegal 12,7 milijarde EUR, za dva portfelja strukturiranih vrednostnih papirjev v vrednosti 35 milijard EUR [6].
All shareholders participated in the capital injection in accordance with their respective levels of shares and indirectly in the impaired assets relief measure.
Vsi imetniki deležev so v skladu z velikostjo svojega deleža sodelovali v kapitalski injekciji in posredno v ukrepu pomoči.
With that the compensation originally envisaged will be increased by EUR 28 million in the first year. This compensation is based on two different rates of interest: 6,25 % on the capital relief effect and 10 % on the part of the guaranteed value which exceeds the real economic value of the two portfolios.
S tem se prvotno predvideno povračilo v prvem letu poviša za 28 milijonov EUR. To povračilo temelji na dveh različnih obrestnih merah: 6,25 % na kapitalski učinek pomoči in 10 % na del zajamčene vrednosti, ki presega dejansko gospodarsko vrednost obeh portfeljev.
This change in legal form will be carried out in such a way as to ensure that the conversion into a public limited company is concluded by no later than December 2013.
Ta sprememba pravne oblike bo izpeljana tako, da se dokončno preoblikovanje v delniško družbo zagotovi najpozneje do decembra 2013.
In addition important aspects of the voluntary German Corporate Governance Code will be introduced by the end of 2010.
Poleg tega bodo do konca leta 2010 uvedeni bistveni vidiki prostovoljnega nemškega kodeksa upravljanja družb.
LBBW assumes that German GDP will fall by 6,2 % in 2009 and will rise by 1 % in 2010; it then expects a gradual rise in GDP growth to 2,5 % by 2013.
LBBW izhaja iz dejstva, da bo nemški BDP v letu 2009 padel za 6,2 % in v letu 2010 zrasel za 1 %; potem do leta 2013 pričakuje postopno rast BDP za 2,5 %.
A peak of 9,8 % unemployment is assumed for 2010, a continuing high level for 2011 and then a fall to 8,3 % in 2013.
Domneva se, da bo brezposelnost v letu 2010 dosegla vrhunec z 9,8 %, v letu 2011 bo ostala visoka, potem pa v letu 2013 padla na 8,3 %.
LBBW also expects low, slightly rising inflation, which will remain well below the ECB’s inflation targets.
LBBW poleg tega računa na nizko, rahlo rastočo inflacijo, ki bo ostala precej za inflacijskimi cilji ECB.