natgillin/translations-raw huggingface dataset:
The group of restructuring measures notified between February 2009 and February 2010, considered as a whole, would constitute a plan for restructuring and compensation for any distortions of competition, in accordance with the requirements laid down by the Commission in its decisions and during meetings with the representatives of the Member States concerned and Dexia.
Vsi ukrepi prestrukturiranja, priglašeni med februarjem 2009 in februarjem 2010, naj bi skupaj sestavljali projekt prestrukturiranja in nadomestilo za morebitno izkrivljanje konkurence, skladen z zahtevami, ki jih je Komisija določila v odločitvah ter na sestankih s predstavniki zadevnih držav članic in skupine Dexia.
The Commission first of all welcomes the fact that Dexia has recorded positive results for the first three quarters of 2009.
Komisija najprej odobrava dejstvo, da je Dexia v prvih treh četrtletjih leta 2009 dosegla pozitiven poslovni izid.
However, in the light of these results, the Commission also notes the following points:
Vendar Komisija na podlagi tega poslovnega izida ugotavlja tudi naslednje:
finally, the cost of the risk is an element which could evolve favourably in the years to come, as shown by the write-backs of provisions carried out by Dexia in 2009.
gibanje stroškov tveganja bi bilo lahko v prihodnjih letih ugodno, o čemer pričajo ponovni prevzemi rezervacij, ki jih je Dexia izvedla leta 2009.
However, the fall in the cost of the risk will remain limited on account of the deterioration in the credit standing of certain public sector entities to which Dexia has an exposure.
Vendar bo znižanje stroškov tveganja še naprej omejeno zaradi poslabšanja kreditne kvalitete nekaterih subjektov iz javnega sektorja, ki jim je izpostavljena Dexia.
finally, proprietary trading activities will be halted, from the date of this decision, and market activities will be significantly curtailed, enabling a reduction in Dexia’s exposure to market risks and counterparty risks in off-balance-sheet transactions: the SBPO and TOB activities will be placed in run-off and Dexia’s value-at-risk limits have been cut by 44 % compared to 2008.
dejavnosti trgovanja za svoj račun po sprejetju tega sklepa prenehajo, tržne dejavnosti pa se znatno zmanjšajo, s čimer se zmanjša izpostavljenosti skupine Dexia tržnim tveganjem in tveganjem nasprotne stranke pri zunajbilančnih transakcijah: dejavnosti v okviru stand-up aranžmaja o nakupu obveznic in izdaje opcijskih obveznic na podlagi razpisa se likvidirajo, omejitve v zvezi s tvegano vrednostjo skupine Dexia pa se zmanjšajo za 44 % v primerjavi z letom 2008.
The complete cessation of the proprietary trading activities means that Dexia will maintain trading activities only to receive, transmit and execute its customers’ orders to buy and sell.
Popolno prenehanje dejavnosti trgovanja za svoj račun pomeni, da Dexia dejavnosti trgovanja obdrži samo za prejemanje, prenašanje in izvajanje nabavnih in prodajnih naročil svojih strank.
In fact, in so far as Dexia refrains from lending to its PWB customers at a RAROC of under 10 %, from the date of this decision, it will be possible to ensure a minimum level of profitability of the economic capital in the PWB sector until 31 December 2014.
Ker se Dexia po sprejetju tega sklepa vzdrži dajanja posojil svojim strankam PWB po stopnji RAROC, nižji od 10 %, se lahko z dejavnostmi PWB do 31. decembra 2014 zagotovi minimalen donos gospodarskega kapitala.
The projections of Dexia’s results for the period 2009-2014, communicated by the Member States concerned to the Commission [47], confirm that the overall profitability of the activities of the group can be ensured during this period and that the foreseeable losses from the activities in run-off (LPMD) can be offset by the profits from the Core division.
Napovedi poslovnega izida skupine Dexia v obdobju 2009–2014, ki so jih zadevne države članice poslale Komisiji [47], potrjujejo, da bo v navedenem obdobju mogoče zagotoviti splošno dobičkonosnost dejavnosti skupine in da se bodo lahko načrtovane izgube iz dejavnosti v likvidaciji (LPMD) izravnale z dobički glavnega sektorja.
the gradual early exit from the guarantee mechanism for Dexia’s bond liabilities by 30 June 2010.
postopne in predčasne izključitve dolžniških obveznic skupine Dexia iz jamstvenega mehanizma do 30. junija 2010.
The Commission views an early exit of this kind from the guarantee as a positive factor in the context of restoring Dexia’s long-term viability without State support,
Komisija pozitivno ocenjuje tako predčasno izključitev iz jamstva v okviru ponovne vzpostavitve dolgoročnega uspešnega poslovanja skupine Dexia brez državne pomoči,
The Commission confirms that the projected assumptions of the cost of funding before stress simulation are conservative in view of Dexia’s experience in 2009.
Komisija potrjuje, da so predpostavke v zvezi s stroški financiranja pred stresno simulacijo konservativne glede na izkušnje skupine Dexia v letu 2009.
However, given the exceptional measures granted to the banking sector in 2009 and the uncertain future context, the Commission is not able to pronounce on the future trend in the cost of Dexia’s funding.
Vendar glede na izjemne ukrepe, ki so bili v bančnem sektorju odobreni v letu 2009, in negotove prihodnje obete ne more napovedati prihodnjega gibanja stroškov financiranja skupine Dexia.
On the basis of a dynamic short-term funding requirement of EUR [200-300] billion at end-2008, this was reduced to EUR [150-200] billion at 30 September 2009, and the restructuring plan provides that the ‘short-term funding/total balance sheet’ ratio is reduced from 30 % at 31 December 2009 to 11 % at 31 December 2014.
Potreba po dinamičnem kratkoročnem financiranju, ki je konec leta 2008 znašala [200–300] milijard EUR, se je do 30. septembra 2009 znižala na [150–200] milijard EUR, z načrtom prestrukturiranja pa je določeno, da se bo delež kratkoročnih oblik financiranja glede na skupno bilančno vsoto zmanjšal s 30 % na dan 31. decembra 2009 na 11 % na dan 31. decembra 2014.
Such a level of short-term funding is entirely satisfactory for the Commission, as it significantly reduces Dexia’s sensitivity to shocks of prolonged increases in the cost of funding.
Taka stopnja kratkoročnega financiranja je za Komisijo popolnoma zadostna, saj znatno zmanjšuje občutljivost skupine Dexia na pretrese zaradi dolgotrajnega povečevanja stroškov financiranja.
As shown in Table 7 below, as a percentage of the total funding, it appears that the funding between 0 and 1 month has been reduced by […] % to […] % between 31 December 2008 and 30 September 2009.
Kot je v odstotkih skupnega financiranja izraženo v spodnji tabeli št. 7, se zdi, da se je financiranje od 0 mesecev do 1 meseca od 31. decembra 2008 do 30. septembra 2009 zmanjšalo z […] % na […] %.
However, the proportions of funding between 1 and 3 months, and between 6 and 12 months have increased from […] % to […] %, and from […] % to […] % respectively.
Vendar se je delež financiranja od 1 do 3 mesecev in od 6 do 12 mesecev povečal z […] % na […] % oziroma z […] % na […] %.
The negative AFS reserve improved from EUR 12,7 billion at 31 March 2009 to EUR 7,2 billion at 30 September 2009.
Negativna rezerva za prodajo razpoložljivih sredstev se je znižala z 12,7 milijarde EUR na dan 31. marca 2009 na 7,2 milijarde EUR na dan 30. septembra 2009.
Given (i) the level of Dexia’s capital (EUR 17,1 billion in Tier 1 capital and EUR 19,6 billion in total regulatory capital at 30 September 2009), (ii) the current non-inclusion of the AFS reserve in the calculation of the regulatory capital, the Commission is concerned that the inclusion of this AFS reserve in the regulatory capital ratios, currently under discussion at the Basel Committee, will penalise Dexia.
Glede na (i) višino kapitala skupine Dexia (17,1 milijarde EUR kapitala prvega reda in 19,6 milijarde EUR celotnega regulatornega kapitala na dan 30. septembra 2009) ter (ii) sedanjo izključenost rezerve za prodajo razpoložljivih sredstev iz izračuna regulatornega kapitala se Komisija boji, da je dejstvo, da je v okviru trenutnih razprav Baselskega odbora ta rezerva vključena v delež regulatornega kapitala, neugodno za skupino Dexia.
such a change in the regulations would not be applicable, according to the Member States concerned, before 2012.
taka regulatorna sprememba bi bila po navedbah zadevnih držav članic mogoča šele po letu 2012.
Between now and then, the restructuring plan provides for a reduction of 30 % to 40 % of the portfolio of the LPMD division (which is mainly responsible for the creation of this negative AFS reserve), which, all other things being equal, should reduce the amount of the negative AFS reserve.
Do takrat je z načrtom prestrukturiranja predvideno od 30- do 40-odstotno zmanjšanje portfelja sektorja LPMD (ki je glavni razlog za oblikovanje te negativne rezerve za prodajo razpoložljivih sredstev), s čimer naj bi se v sicer enakih okoliščinah znižal znesek negativne rezerve za prodajo razpoložljivih sredstev.
The Commission also notes that the payment of a dividend in Dexia shares does not involve the payment of a coupon on any of Dexia’s hybrid instruments (Tier 1 or Tier 2), with the sole exception of an issue floated by Dexia Funding Luxembourg SA (‘DFL’) carried out in 2006.
Komisija še ugotavlja, da izplačilo dividend z delnicami skupine Dexia ne povzroči plačila kuponov iz hibridnih vrednostnih papirjev (Tier 1 ali Tier 2) skupine Dexia, edina izjema je izdaja s strani družbe Dexia Funding Luxembourg SA (v nadaljnjem besedilu: DFL) v letu 2006.
However, it should be specified that this exception was approved in the overall context of the restructuring plan.
Vendar je treba pojasniti, da je bila ta izjema odobrena v splošnem okviru načrta prestrukturiranja.
The restructuring plan will lead to a 35 % reduction in Dexia’s total balance sheet in 2014 compared to 2008.
Na podlagi načrta prestrukturiranja bo skupna bilančna vsota skupine Dexia v letu 2014 nižja za 35 % v primerjavi z letom 2008.
This downsizing also results from the run-off of the activities ringfenced in the LPMD, the refocusing of Dexia’s activities on its historical markets, the divestment of activities and the limitation of its new PWB turnover.
To znižanje je tudi posledica likvidacije dejavnosti iz LPMD, ponovne usmeritve dejavnosti skupine Dexia na tradicionalne trge, odprodaje dejavnosti in omejitve obsega novih dejavnosti PWB.
Dexia shall maintain the ‘short-term funding/total balance sheet’ ratio defined in Annex II to this decision, at 30 % at 31 December 2009, at a level below or equal to 23 % at 31 December 2010, below or equal to 20 % at 31 December 2011, below or equal to 14 % at 31 December 2012, below or equal to 13 % at 31 December 2013 and below or equal to 11 % at 31 December 2014.
Dexia na dan 31. decembra 2009 ohrani 30-odstotni delež kratkoročnih oblik financiranja glede na skupno bilančno vsoto, določen v Prilogi II k temu sklepu, največ 23-odstotni delež na dan 31. decembra 2010, največ 20-odstotni delež na dan 31. decembra 2011, največ 14-odstotni delež na dan 31. decembra 2012, največ 13-odstotni delež na dan 31. decembra 2013 in največ 11-odstotni delež na dan 31. decembra 2014.
For the purposes of this commitment, the ratio shall also be monitored as an annual average over the entire reference period.
Za namene te zaveze se delež spremlja tudi kot letno povprečje celotnega referenčnega obdobja;
Dexia SA shall refrain from the distribution of dividends on its ordinary shares until 31 December 2011.
Dexia SA se do 31. decembra 2011 vzdrži razdelitve dividend na svoje redne delnice.
This prohibition shall not apply to distributions of dividends made entirely by the allocation of new shares, provided that the amount of these distributions is (i) in accordance with point 8 above and (ii) below or equal to 40 % of the net result made by Dexia SA for the financial year 2009 as regards the distributions made in 2010 and below or equal to 40 % of the net result made by Dexia SA for the financial year 2010 with regard to the distributions made in 2011.
Ta prepoved ne velja za razdelitve dividend, ki se v celoti izvedejo z dodelitvijo novih delnic, če je znesek teh razdelitev (i) v skladu z zgornjo točko 8 in (ii) za razdelitve v letu 2010 ne presega 40 % neto poslovnega izida skupine Dexia SA v poslovnem letu 2009, za razdelitve v letu 2011 pa ne presega 40 % neto poslovnega izida, ki ga skupina Dexia SA ustvari v poslovnem letu 2010.
Divestment or stock exchange flotation of the group’s 70 % stake in its Italian subsidiary, Crediop, by 31 October 2012.
Odprodaja ali uvrstitev 70-odstotnega deleža skupine v italijanski odvisni družbi Crediop v borzno kotacijo do 31. oktobra 2012.
Under point 15 of the Bank Restructuring Communication, Dexia shall not be required to sell its stake in Crediop at an excessively depressed price (less than […] times the book value in 2010 and 2011 and […] times the book value in 2012).
Na podlagi točke 15 Sporočila o prestrukturiranju bank skupini Dexia deleža v družbi Crediop ne bo treba prodati po prenizki ceni (manj kot […]-kratna knjigovodska vrednost v letih 2010 in 2011 ter […]-kratna knjigovodska vrednost v letu 2012).
The 35 % reduction in Dexia’s total balance sheet by 31 December 2014 compared to its amount at 31 December 2008, under the conditions and according to the accounting conventions described in the additional measures of Dexia’s restructuring plan notified to the Commission on 17 December 2009.
za 35 % nižja skupna bilančna vsota skupine Dexia na dan 31. decembra 2014 v primerjavi z njenim zneskom na dan 31. decembra 2008, in sicer pod pogoji in v skladu z računovodskimi dogovori, opisanimi v dodatnih ukrepih načrta prestrukturiranja skupine Dexia, ki je bil Komisiji poslan 17. decembra 2009.
In absolute value, the total balance sheet shall be reduced from EUR 651 billion at 31 December 2008, to EUR 580 billion at 31 December 2009, EUR [510-550] billion at 31 December 2010, EUR [485-545] billion at 31 December 2011, EUR [425-490] billion at 31 December 2012, EUR [405-465] billion at 31 December 2013 and EUR 427 billion at 31 December 2014, i.e. a reduction of EUR 224 billion. These amounts will have to be corrected for the trend in the market value of the derivatives recorded in Dexia’s balance sheet if this trend differs from that described in Dexia’s restructuring plan and provided that such a divergence does not result from a significant rise in the notional amount of these derivatives.
V absolutni vrednosti se skupna bilančna vsota zniža s 651 milijard EUR na dan 31. decembra 2008 na 580 milijard EUR na dan 31. decembra 2009, na [510-550] milijard EUR na dan 31. decembra 2010, na [485-545] milijard EUR na dan 31. decembra 2011, na [425-490] milijard EUR na dan 31. decembra 2012, na [405-465] milijard EUR na dan 31. decembra 2013 in na 427 milijard EUR na dan 31. decembra 2014, kar pomeni znižanje za 224 milijard EUR. Te zneske je treba popraviti glede na spremembo tržne vrednosti izvedenih finančnih instrumentov, vključenih v bilanco stanja skupine Dexia, če je to gibanje drugačno od tistega, opisanega v načrtu prestrukturiranja skupine Dexia in če tako odstopanje ni posledica precejšnjega povečanja nominalnega zneska teh izvedenih finančnih instrumentov.
The total balance sheet of the Core Division shall amount to EUR [390-410] billion at 31 December 2010, EUR [385-415] billion at 31 December 2011, EUR [345-380] billion at 31 December 2012, EUR [335-365] billion at 31 December 2013 and EUR 353 billion at 31 December 2014, i.e. a reduction in the order of 45 % in relation to the group’s total balance sheet at 31 December 2008.
Skupna bilančna vsota glavnega sektorja znaša [390-410] milijard EUR na dan 31. decembra 2010, [385-415] milijard EUR na dan 31. decembra 2011, [345-380] milijard EUR na dan 31. decembra 2012, [335-365] milijard EUR na dan 31. decembra 2013 in 353 milijard EUR na dan 31. decembra 2014, kar je 45-odstotno znižanje v primerjavi s skupno bilančno vsoto skupine na dan 31. decembra 2008.
The annual trend in sizes of the balance sheet of the activities of the Core Division and Legacy Portfolio Management Division respectively shall be consistent with the description given in Annex II to this decision.
Letno gibanje bilančne vsote glavnega sektorja in sektorja za upravljanje preostanka portfelja („Legacy Portfolio Management Division“) je v skladu z opisom iz Priloge II k temu sklepu.
the French State invested EUR 1 billion in Dexia SA. This holding will be managed by the Agence des participations de l’État,
Francija je v matično družbo Dexia SA vložila 1 milijardo EUR. Ta delež bo upravljala francoska agencija za državne naložbe (Agence des participations de l’État),
Also see its decision in the Shetland Shellfish case (Decision 2006/226/CE ( OJ L 81, 18.3.2006, p. 36)). The Commission rejected two reports produced by the public authority in Shetland with a view to the investment, which contained a projected profit-and-loss account, a projected balance sheet and a projected cash flow statement for 2000, 2001 and 2002.
Glej tudi odločbo, ki jo je Komisija izdala v zadevi Shetland Shellfish (Odločba 2005/336 ( UL L 81, 18.3.2006, str. 36)) in v kateri je zavrnila poročili, ki ju je javni organ Shetlandskih otokov predložil v zvezi z naložbo ter sta vsebovali načrtovani izkaz poslovnega izida, načrtovano bilanco stanja in načrtovani izkaz finančnega izida za leta 2000, 2001 in 2002.
The United Kingdom contended that the studies were ex ante and the assumptions on which they were based were ‘conservative and prudent’, but the Commission concluded that they would have been considered insufficient by a private investor in the market economy, despite the fact that relatively small amounts were involved.
Združeno kraljestvo je poudarilo, da so študije predhodne, predpostavke, na katerih temeljijo, pa „konservativne in previdne“, vendar je Komisija ugotovila, da se zasebnemu vlagatelju ne bi zdele zadostne, čeprav so bili zadevni zneski razmeroma skromni.
As pointed out above, the total amount of aid associated with the capital increase and the FSA measure comes to EUR 8,4 billion.
Kot je bilo navedeno zgoraj, skupni znesek pomoči, povezan z dokapitalizacijo in ukrepom za družbo FSA, znaša 8,4 milijarde EUR. V skladu s točko 4 Sporočila o prestrukturiranju je treba ta znesek upoštevati pri presoji obveznosti predložitve načrta prestrukturiranja.
In accordance with point 4 of the Restructuring Communication, it is this amount which must be taken into account in assessing the obligation to present a restructuring plan.
Elemente pomoči, povezane z jamstvom in ukrepom likvidnostne pomoči, ki ga je sprejela banka BNB, pa je treba upoštevati pri presoji združljivosti načrta prestrukturiranja z notranjim trgom.
Core division
Glavni sektor
LPD
LPD (sektor za upravljanje preostanka portfelja)
Table 6 Reduction in the size of the group’s balance sheet, the core division and the LPMD
Znižanje bilančne vsote skupine, glavnega sektorja in sektorja za upravljanje preostanka portfelja (LPMD)
Subprime
Subprime (drugorazredna posojila)
Option ARMs
posojila Option ARM
Prime
Prime (prvorazredna posojila)
the nature of the restructuring measures proposed which failed to match up to the requirements under the Commission communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules [23] (‘Restructuring Communication’), the ability of the proposed measures to guarantee that the distortions of competition are limited and that moral hazard is addressed by aid limited to the minimum necessary and appropriate burden-sharing of the costs between the beneficiaries and the Member States concerned.
narave predlaganih ukrepov prestrukturiranja, ki so še naprej presegali zahteve iz Sporočila Komisije o ponovni vzpostavitvi uspešnega poslovanja in oceni ukrepov prestrukturiranja v finančnem sektorju v sedanji krizi na podlagi pravil o državni pomoči [23] (v nadaljnjem besedilu: Sporočilo o prestrukturiranju bank),zmožnosti, da bi se s predlaganimi ukrepi omejilo izkrivljanje konkurence ter da se moralno tveganje zmanjša z omejitvijo pomoči na najnižjo potrebno in ustrezno porazdelitvijo bremen med prejemnike pomoči in zadevne države članice.
Alt-A
Posojila Alt-A
This shows that in the event of a uniform rise in the rate curve, Dexia considers it will not lose more than EUR […] million [49]. This level of sensitivity seems perfectly reasonable and is attributable in part to Dexia’s policy of […], thereby reducing the sensitivity to rate variations.
Skupina Dexia tako očitno meni, da ob enakomernem zviševanju krivulje obrestnih mer ne bi izgubila več kot […] milijonov EUR. [49] Ta raven občutljivosti se zdi popolnoma razumna in je deloma posledica politike skupine Dexia, da […], s čimer se zmanjša občutljivost na skoke obrestnih mer.
on the State aid implemented by Belgium for the restructuring of the Ostend fish auction
glede državne pomoči, ki jo izvaja Belgija, za prestrukturiranje dražbe rib v Ostendeju
(State aid C 30/08 (ex NN 21/08))
(Državna pomoč C 30/08 (ex NN 21/08))
(notified under document C(2010) 2520)
(notificirano pod dokumentarno številko C(2010) 2520)
Having regard to the Agreement on the European Economic Area [1], and in particular Article 62(1)(a) thereof,
ob upoštevanju Sporazuma o Evropskem gospodarskem prostoru [1] in zlasti člena 62(1)(a) Sporazuma,
Having regard to Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 93 of the EC Treaty [2], and in particular Article 7(5) and Article 14 thereof,
ob upoštevanju Uredbe Sveta (ES) št. 659/1999 z dne 22. marca 1999 o določitvi podrobnih pravil za uporabo člena 93 Pogodbe ES [2] ter zlasti člena 7(5) in člena 14 Uredbe,
Having called on interested parties to submit their comments [3] pursuant to the first subparagraph of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) [4] and having regard to their comments,
po pozivu zainteresiranim stranem, naj predložijo svoje pripombe [3] v skladu s prvo alineo člena 108(2) Pogodbe o delovanju Evropske unije (PDEU) [4] in ob upoštevanju teh pripomb,
By letter of 16 February 2006 the Commission received a complaint concerning aid granted by the Belgian authorities to the Ostend fish auction, registered under reference number CP 40/06.
Komisija je z dopisom z dne 16. februarja 2006 prejela pritožbo v zvezi s pomočjo, ki so jo belgijski organi dodelili dražbi rib v Ostendeju in je registrirana pod referenčno številko CP 40/2006.
On 31 July 2007 an additional complaint was received pertaining to the same issue.
Dodatna pritožba v zvezi z isto zadevo je bila prejeta 31. julija 2007.
By letters of 13 March 2006, 26 June 2006 and 11 July 2007, the Commission has requested the Belgian authorities to provide information about these measures, to which they responded by letters of 11 May 2006, 20 October 2006 and 27 November 2007.
Komisija je v dopisih z dne 13. marca 2006, 26. junija 2006 in 11. julija 2007 belgijske organe pozvala, naj zagotovijo informacije o teh ukrepih, ki so jih ti organi posredovali v odgovorih z dne 11. maja 2006, 20. oktobra 2006 in 27. novembra 2007.
After examination of the information and documents provided by the Belgian authorities, the Commission informed the Belgian authorities on 3 July 2008 of its decision to initiate the procedure laid down in Article 108(2) of the TFEU and Article 6 of Regulation (EC) No 659/1999.
Komisija je po proučitvi informacij in dokumentov, ki so jih predložili belgijski organi, te organe 3. julija 2008 obvestila o svoji odločitvi o sprožitvi postopka iz člena 108(2) PDEU in člena 6 Uredbe št. 659/1999.
By letter of 16 July 2008 the Belgian authorities have transmitted to the Commission certain documents relating to the privatisation of the Ostend fish auction contemplated by the City of Ostend.
Belgijski organi so v dopisu z dne 16. julija 2008 Komisiji posredovali nekatere dokumente v zvezi s privatizacijo dražbe rib v Ostendeju, ki jo to mesto načrtuje.