natgillin/translations-raw huggingface dataset:
However, the projected net income should allow it to pay at least part of that remuneration after it returns to profitability and its capital base is adequate.
Kljub temu bi ji moral pričakovani neto dohodek omogočiti plačilo vsaj dela nadomestila, ko bo spet postala dobičkonosna in kapitalsko ustrezna.
Therefore, the Commission welcomes the commitment provided by Latvia whereby Citadele banka shall remunerate the State for the asset relief up to the amount of estimated losses in the worst case scenario, being the sum of the State deposits to be lost at the end of assets’ realisation (LVL [between 100 and 200] million) and the State recapitalisation measures (LVL […] million).
Komisija zato pozdravlja zavezo Latvije, v okviru katere bo banka Citadele plačala državi nadomestilo za finančno pomoč za oslabljena sredstva do višine ocenjenih izgub po najslabšem možnem scenariju, ki je vsota depozitov države, ki naj bi bili izgubljeni ob koncu unovčenja sredstev ([med 100 in 200] milijonov LVL), in državnih ukrepov dokapitalizacije ([…] milijonov LVL).
The payment of the remuneration will take the form of expenditure in the profit and loss account, i.e. before the establishment of the annual net result, and should be paid every year in which Citadele banka’s capital adequacy ratio is not lower than 12 % up to an amount that does not lead to Citadele banka showing losses in the relevant year.
Plačilo nadomestila bo v izkazu poslovnega izida prikazano kot odhodek, to je pred določitvijo letnega neto dobička, plačati pa ga bo treba za vsako leto, v katerem količnik kapitalske ustreznosti banke Citadele ne bo nižji od 12 %, in do višine zneska, na podlagi katerega banka Citadele ne bi bila primorana izkazati izgub v zadevnem letu.
This commitment shall apply until the closing of the sale of Citadele banka (see recital 81).
Ta zaveza bo veljala do dokončne prodaje banke Citadele (glej uvodno izjavo (81)).
Overall, the Commission considers that this mechanism ensures as far as possible a contribution from Citadele banka to costs stemming from […].
Komisija na splošno meni, da ta mehanizem, kolikor je le mogoče, zagotavlja prispevek banke Citadele k stroškom, ki izhajajo iz […].
However, as the remuneration and claw-back may not reach the level foreseen by the Impaired Assets Communication, a far-reaching restructuring is required by point 41 of the Impaired Assets Communication.
Ker pa nadomestilo in vračilo neupravičeno prejetih sredstev morda ne bosta tako visoka, kot je določeno v Sporočilu o oslabljenih sredstvih, se v točki 41 Sporočila o oslabljenih sredstvih zahteva obsežno prestrukturiranje.
That restructuring must include, in particular, a significant limitation of size of the distressed bank, to compensate for the fact that Citadele banka does not fully bear the losses and does not pay a fully adequate remuneration.
To prestrukturiranje mora vključevati predvsem znatno omejitev velikosti banke v težavah, kar je protiutež dejstvu, da banka Citadele ne bo pokrila vseh izgub in ne bo v celoti plačala ustreznega nadomestila.
To conclude whether the restructuring is sufficient, it has to be assessed against the objectives of the remuneration and the claw-back, i.e. burden-sharing and mitigation of competition distortions.
Da bi ugotovili, ali prestrukturiranje zadostuje, ga je treba oceniti z vidika ciljev nadomestila in vračila neupravičeno prejetih sredstev, to je porazdelitve bremena in omilitve izkrivljanja konkurence.
In particular, it needs to be ascertained whether a sufficient burden-sharing has been achieved through other means and whether competition distortions are limited by verifying the market position and the size of Citadele banka.
Zlasti je treba ugotoviti, ali se zadostna porazdelitev bremena doseže z drugimi sredstvi in ali je izkrivljanje konkurence omejeno s preverjanjem tržnega položaja in velikostjo banke Citadele.
This assessment will have to take into account the other aid measures that have benefitted Parex banka and Citadele banka and is reflected in the part of this Decision that analyses the compliance of the aid measures with the Restructuring Communication (see recitals 144 and following).
Pri tej oceni bo treba upoštevati še druge ukrepe pomoči, od katerih sta imeli korist banki Parex in Citadele, izražena pa je v delu tega sklepa, v katerem je proučena skladnost ukrepov pomoči s Sporočilom o prestrukturiranju (glej uvodno izjavo (144) in naslednje).
After the split, Parex banka will be separate and organisationally independent from Citadele banka, as required by section 5.6 of the Impaired Assets Communication.
Banka Parex bo po razcepitvi ločena in organizacijsko neodvisna od banke Citadele, kot se zahteva v razdelku 5.6 Sporočila o oslabljenih sredstvih.
In conclusion, the Commission considers that the present case is in compliance with the Impaired Assets Communication.
Skratka, Komisija meni, da je obravnavani primer v skladu s Sporočilom o oslabljenih sredstvih.
COMPATIBILITY UNDER THE RESTRUCTURING COMMUNICATION
ZDRUŽLJIVOST NA PODLAGI SPOROČILA O PRESTRUKTURIRANJU
In order to be compatible with Article 107(3)(b) TFEU, the restructuring of a financial institution in the context of the current financial crisis has to:
Da bi bilo prestrukturiranje finančne ustanove v sedanji krizi združljivo s členom 107(3)(b) PDEU, mora to prestrukturiranje:
lead to the restoration of the long-term viability of the bank;
voditi do vnovične vzpostavitve uspešnega poslovanja banke;
include sufficient own contribution by the beneficiary (burden-sharing);
vključevati zadosten lastni prispevek upravičenca (porazdelitev bremen);
contain sufficient measures limiting the distortion of competition.
vključevati zadostne ukrepe za omejitev izkrivljanja konkurence.
Section 2 of the Restructuring Communication states that the Member State should submit a coherent, comprehensive and detailed restructuring plan.
V razdelku 2 Sporočila o prestrukturiranju je navedeno, da mora država predložiti usklajen, celovit in podroben načrt prestrukturiranja.
It should demonstrate how the bank will restore long-term viability without State aid as soon as possible.
Dokazati mora, da bo banka brez državne pomoči čim prej ponovno vzpostavila uspešno poslovanje.
The plan should also identify the causes of the bank’s difficulties and the bank’s own weaknesses, and outline how the proposed restructuring measures remedy the bank’s underlying problems.
Načrt prestrukturiranja mora opredeliti vzroke za težave banke in njene lastne slabosti ter opisati, kako bodo predlagani ukrepi prestrukturiranja pripomogli k reševanju temeljnih problemov banke.
In line with the requirements set out in point 11 of the Restructuring Communication, the final restructuring plan submitted by Latvia is coherent, comprehensive and detailed.
Končni načrt prestrukturiranja, ki ga je predložila Latvija, je v skladu z zahtevami iz točke 11 Sporočila o prestrukturiranju usklajen, celovit in podroben.
It provides detailed information on the business model, underlying assumptions and resulting financial projections.
Zagotavlja podrobne informacije o poslovnem modelu, izhodiščnih predpostavkah in iz tega izhajajočih finančnih napovedih.
In line with point 10 of that Communication, the plan also identifies the causes of the difficulties faced by Parex banka, in particular the management’s choice of an inadequate business strategy and some high-risk decisions (see section 2.1 and recitals 38-42 of this Decision).
V skladu s točko 10 tega sporočila so v načrtu opredeljeni tudi vzroki za težave, v katerih se je znašla banka Parex, zlasti odločitev vodstva za neustrezno poslovno strategijo in nekatere zelo tvegane odločitve (glej razdelek 2.1 in uvodne izjave (38)–(42) tega sklepa).
The restructuring activities presented in the final plan adequately address the bank’s weaknesses.
Dejavnosti prestrukturiranja, opisane v končnem načrtu, ustrezno odpravljajo slabosti banke.
In this way, the concerns regarding the originally notified restructuring plan as set out in the opening Decision are addressed in the final restructuring plan.
Pomisleki, ki so bili glede prvotno priglašenega načrta prestrukturiranja navedeni v odločitvi o začetku postopka, so tako v končnem načrtu prestrukturiranja odpravljeni.
More specifically, as regards the focus of the business model, one of the major concerns in the opening Decision, Citadele banka will, according to the final restructuring plan, refocus on traditional bank business activities in the Baltics.
Natančneje, kar zadeva usmeritev poslovnega modela, ki je bil eden od glavnih pomislekov pri odločitvi o začetku postopka, se bo banka Citadele glede na končni načrt prestrukturiranja znova usmerila v tradicionalne poslovne dejavnosti bank v baltskih državah.
Accordingly, Citadele banka will concentrate on its core activities, while withdrawing from those areas which aggravated its financial difficulties.
V skladu s tem se bo banka Citadele osredotočila na svoje glavne dejavnosti, obenem pa se bo umaknila s področij, zaradi katerih so se njene finančne težave še zaostrile.
In particular, it is viewed positively that all CIS leasing (including subsidiaries) and non-performing CIS loans are left behind in Parex banka.
Zlasti se ocenjuje pozitivno, da vse lizinške dejavnosti SND (vključno s hčerinskimi družbami) in nedonosna posojila SND ostanejo v banki Parex.
As for performing CIS loans, although they were transferred to Citadele banka, Latvia has committed that they will be divested and in any case no new loans will be originated (see recitals 72 and 83).
Čeprav so bila donosna posojila SND prenesena na banko Citadele, se je Latvija zavezala, da bodo odprodana in da ne bo dodeljevanja novih posojil v nobeni obliki (glej uvodni izjavi (72) in (83)).
Furthermore, the wealth management business will be divested either separately from Citadele banka by […] or sold with Citadele bank if an investor for the whole bank is found by that date (see recital 73 of this Decision).
Poleg tega bo dejavnost upravljanja premoženja odprodana ločeno od banke Citadele do […] ali prodana skupaj z banko Citadele, če se bo do tega datuma našel vlagatelj za celotno banko (glej uvodno izjavo (73) tega sklepa).
Further, as the Commission indicated in the opening Decision, the emerging Citadele banka will be of much smaller scale than Parex banka was before the crisis.
Dalje, kot je Komisija navedla v odločitvi o začetku postopka, bo obseg novoustanovljene banke Citadele veliko manjši od obsega banke Parex pred krizo.
That reduced size is in particular due to the split and the divestitures that will be carried out.
Zmanjšanje velikosti je predvsem posledica razcepitve in odprodaj, ki bodo izvedene.
The aggressive expansion in lending and deposit markets envisaged in the initial restructuring plan has been conservatively revised downwards in the final restructuring plan and will be capped as committed by Latvia (see recitals 77 and 78) of this Decision).
Agresivna širitev na posojilnem in depozitnem trgu, predvidena v prvotnem načrtu prestrukturiranja, je bila v končnem načrtu prestrukturiranja previdno popravljena navzdol in bo omejena v skladu z zavezami Latvije (glej uvodni izjavi (77) in (78)) tega sklepa).
The changes in management style (major shareholders and members of the boards have already been replaced) and corporate governance of Citadele banka and the strengthened risk management and controls within the bank are viewed positively.
Spremembe načina upravljanja (glavni delničarji in člani odborov so že bili zamenjani) in korporativnega vodenja banke Citadele ter okrepljena obvladovanje tveganja in nadzor v banki se ocenjujejo pozitivno.
Parex banka has already reduced administrative costs by 39 %.
Banka Parex je upravne stroške že znižala za 39 %.
Citadele banka’s expected cost/income ratio will decrease to [between 35 and 55] % in 2014 mainly thanks to optimisation of the branch network and personnel expenses.
Pričakovano razmerje med stroški in prihodki banke Citadele se bo leta 2014 znižalo na [med 35 in 55] %, predvsem zaradi optimizacije mreže podružnic in izdatkov za osebje.
According to the requirements set out in points 12 to 15 of the Restructuring Communication, the final restructuring plan should also demonstrate how the bank will restore its long-term viability without continuous State aid as soon as possible.
V skladu z zahtevami iz točk 12–15 Sporočila o prestrukturiranju mora biti v končnem načrtu prestrukturiranja tudi prikazano, kako bo banka brez nadaljnje državne pomoči čim prej ponovno vzpostavila uspešno poslovanje.
In particular, the bank should be able to generate an appropriate return on equity, while covering all costs of its normal operations and complying with the relevant regulatory requirements.
Banka mora biti zlasti sposobna ustvariti ustrezen kapitalski donos, hkrati pa mora pokriti vse stroške tekočega poslovanja in izpolniti ustrezne regulativne zahteve.
First, the restructuring plan provides detailed financial data and projections for the period 2006-2015, giving information on revenues, costs, impairments, profits and capital position of the bank.
Prvič, v načrtu prestrukturiranja so navedeni podrobni finančni podatki in napovedi za obdobje 2006–2015, prikazane pa so tudi informacije o prihodkih, stroških, oslabitvah, dobičkih in kapitalskem položaju banke.
The Commission considers that the base case projections provided are based on reasonable underlying macroeconomic assumptions (they are less optimistic that those of the 2010 European Economic Spring Forecast).
Komisija meni, da predložene napovedi po osnovnem scenariju temeljijo na razumnih osnovnih makroekonomskih predpostavkah (ki so manj optimistične kot tiste v okviru evropske gospodarske napovedi pomladi 2010).
Citadele banka expects to generate profits again in 2011 and continuously improve its yearly results over the restructuring period.
Banka Citadele pričakuje, da bo leta 2011 vnovič ustvarjala dobiček in v obdobju prestrukturiranja nenehno izboljševala svoje letne rezultate.
In 2014 the ROE is planned to reach a level of [between 18 and 28] %, which appears to be a sufficient level of remuneration for normal market conditions in Latvia.
Leta 2014 naj bi donosnost lastniškega kapitala dosegla [med 18- in 28]-odstotno raven, kar se zdi zadostna raven nadomestila glede na običajne tržne razmere v Latviji.
Given the stable business model of the bank and Parex banka’s track record in the past with respect to its core operations, the Commission considers, on the basis of the information provided, the projections presented as feasible.
Glede na trden poslovni model banke in pretekle izkušnje banke Parex, kar zadeva njene glavne dejavnosti, Komisija na podlagi predloženih informacij meni, da so predložene napovedi uresničljive.
Second, in light of the stress testing exercise by the Central Bank (see recital 45) the Commission is of the view that Citadele banka is able to withstand a stress scenario without needing further aid.
Drugič, Komisija na podlagi testiranja izjemnih situacij, ki ga je izvedla centralna banka (glej uvodno izjavo (45)), meni, da bi banka Citadele prestala scenarij izjemnih situacij brez potrebe po nadaljnji pomoči.
The stress scenario demonstrates that the bank meets its regulatory capital requirements.
Scenarij izjemnih situacij dokazuje, da banka izpolnjuje zahteve glede regulatornega kapitala.
Moreover, the sensitivity analysis used in the stress testing shows that a significantly changing economic environment should not endanger the bank’s viability.
Tudi analiza občutljivosti, ki se je uporabila pri testiranju izjemnih situacij, je pokazala, da precej spreminjajoče se gospodarsko okolje ne bi smelo ogroziti poslovne uspešnosti banke.
Third, deposit withdrawal restrictions will not apply to Citadele banka and all other regulatory requirements will be complied with.
Tretjič, omejitve dvigovanja depozitov ne bodo veljale za banko Citadele in upoštevale se bodo vse druge regulativne zahteve.
As regards deposit withdrawal restrictions, a major part of the main depositors have agreed to keep the deposits in the bank for a certain period of time after the restrictions are lifted.
Kar zadeva omejitve dvigovanja depozitov je večina glavnih vlagateljev soglašala, da bodo depozite obdržali v banki še nekaj časa po odpravi omejitev.
These deposits have been effectively transferred to Citadele banka (as indicated in Table 2).
Ti depoziti so bili uspešno preneseni na banko Citadele (kot je navedeno v preglednici 2).
Moreover, the Commission welcomes the proposed low-risk funding model that relies to a greater extent on longer-term funding, thus addressing the previously existing maturity gap between liabilities and assets.
Komisija pozdravlja tudi predlagani model financiranja z nizkim tveganjem, ki se v večji meri opira na dolgoročnejše financiranje in tako odpravlja predhodno vrzel med dospelostjo obveznosti in sredstev.
Finally, the plan provides that Citedele banka will repay State liquidity measures by 31 December 2012 even in the worst case scenario.
Nazadnje načrt določa, da bo banka Citadele likvidnostne ukrepe države tudi po najslabšem možnem scenariju poplačala do 31. decembra 2012.
That envisaged repayment addresses the concerns raised in recital 80 of the opening Decision that the bank continued to rely on State liquidity beyond the restructuring period.
Predvideno poplačilo odpravlja pomisleke iz uvodne izjave 80 odločitve o začetku postopka, da bi bila banka po obdobju prestrukturiranja še naprej odvisna od likvidnostnih ukrepov države.
Furthermore, the Commission notes that the State capital of LVL 103 million placed in Citadele banka at the date of the split will be ‘redeemed’ in line with the commitment undertaken by Latvia regarding the sale of Citadele banka by 31 December 2014 (see recital 76).
Dalje Komisija opozarja, da bodo državna sredstva v višini 103 milijone LVL, ki so bila ob razcepitvi naložena v banko Citadele, „odplačana“ v skladu z zavezo, ki jo je Latvija prevzela glede prodaje banke Citadele do 31. decembra 2014 (glej uvodno izjavo (76)).
In light of the above, the Commission considers that the new business model of Citadele banka is viable and sustainable in the long-term.
Komisija glede na navedeno meni, da je novi poslovni model banke Citadele izvedljiv in dolgoročno zdržen.
Therefore, the restructured bank will be able to compete in the market place on its own merits in compliance with the relevant regulatory requirements and its viability will not be endangered even in a significantly changing environment.
Zato bo lahko prestrukturirana banka samostojno konkurirala na trgu v skladu z zadevnimi regulativnimi zahtevami, njena poslovna uspešnost pa ne bo ogrožena niti v znatno spreminjajočem se okolju.
Consequently, the Commission is of the opinion that the Parex banka’s restructuring plan fulfils the requirements of the Restructuring Communication with regard to the restoration of the long-term viability.
Komisija posledično meni, da načrt prestrukturiranja banke Parex izpolnjuje zahteve iz Sporočila o prestrukturiranju o ponovni vzpostavitvi dolgoročno uspešnega poslovanja.
Own contribution/Burden sharing
Lastni prispevek/porazdelitev bremen
Section 3 of the Restructuring Communication provides that banks and their stakeholders should contribute to the restructuring as much as possible in order to limit the aid to a minimum and to address distortions of competition and moral hazard.
V razdelku 3 Sporočila o prestrukturiranju je določeno, da morajo banka in njeni delničarji k prestrukturiranju prispevati največ, kar zmorejo, za omejitev pomoči na najmanjšo potrebno ter odpravo izkrivljanja konkurence in moralnega tveganja.
That requirement implies that banks use their own resources to finance the restructuring, for instance by selling assets, while the stakeholders should absorb the losses of the bank where possible.
Ta zahteva pomeni, da banke uporabijo lastna sredstva za financiranje prestrukturiranja, na primer s prodajo premoženja, medtem ko morajo izgube banke, če je to mogoče, pokriti delničarji.
Restructuring aid is limited under point 23 of the Restructuring Communication to those costs which are necessary for the restoration of viability.
Pomoč za prestrukturiranje je v točki 23 Sporočila o prestrukturiranju omejena na stroške, potrebne za ponovno vzpostavitev uspešnega poslovanja.
The final restructuring plan, unlike the initial plan submitted on 11 May 2009, has a clear focus and abandons the expansive strategy originally envisaged for Parex banka.
Končni načrt prestrukturiranja ima v nasprotju s prvotnim načrtom, predloženim 11. maja 2009, jasno usmeritev in opušča drago strategijo, ki je bila prvotno predvidena za banko Parex.
That targeted approach contributed to limiting the aid required.
Ta ciljno usmerjeni pristop je pripomogel k omejitvi potrebne pomoči.
In this context, the proposed divestments and the scaling down of Citadele banka’s balance sheet, as well as putting Parex banka in […] are viewed positively.
V okviru tega se predlagane odprodaje in znižanje bilančne vsote banke Citadele ter postavitev banke Parex v […] ocenjujejo pozitivno.
In particular, the proceeds from materialising the assets will finance part of the restructuring costs and limit the aid required.
S prihodki od materializacije sredstev se bosta zlasti financiral del stroškov prestrukturiranja in omejila potrebna pomoč.
The Commission highlights that the Latvian authorities have provided a detailed timeline for planned divestments and committed to the appointment of a monitoring trustee as well as a divestment trustee in order to ensure compliance with the commitments.
Komisija poudarja, da so latvijski organi predložili podroben časovni razpored načrtovanih odprodaj in se zavezali, da bodo imenovali skrbnika za spremljanje in skrbnika za odprodajo ter tako zagotovili izpolnitev zavez.
Moreover, in respect of the contribution to restructuring costs through internal resources generated by the bank, the Commission notes that the bank implements far-reaching cost-cutting measures.
Komisija v zvezi s prispevkom k stroškom prestrukturiranja z lastnimi sredstvi banke še ugotavlja, da banka izvaja daljnosežne ukrepe zniževanja stroškov.
It is considered that the measures already implemented and those committed to by Latvia ensure that own resources are used and that private capital holders of Parex banka adequately contribute to the restructuring.
Z doslej izvedenimi ukrepi in ukrepi, k izvedbi katerih se je zavezala Latvija, naj bi bila zagotovljena uporaba lastnih sredstev in prispevek zasebnih delničarjev banke Parex k prestrukturiranju.
The burden to the former majority shareholders can be demonstrated by the take-over of their entire shareholdings in Parex banka by Latvia for the symbolic price of LVL 2.
Breme nekdanjih večinskih delničarjev je mogoče dokazati z dejstvom, da je Latvija vse njune deleže v banki Parex prevzela po simbolični ceni 2 LVL.
They have been wiped out and thus can be considered as having borne the consequences of the failure of Parex banka.
Bila sta izločena, zato se zanju lahko šteje, da sta nosila posledice propada banke Parex.
In addition to the removal of the former majority shareholders, the shareholding of minority shareholders has been significantly diluted as a result of the State and the EBRD recapitalising the Bank.
Poleg izločitve nekdanjih večinskih delničarjev se je močno zmanjšal delež manjšinskih delničarjev zaradi dokapitalizacije banke, ki sta jo izvedli država in EBOR.
Their ownership has been diluted from the previous level of 15,2 % to 3,7 % currently, and they will remain with Parex banka after the split ([…]).
Njihov lastniški delež se je s prejšnje 15,2-odstotne ravni znižal na sedanjih 3,7 %, v banki Parex pa bodo ostali tudi po razcepitvi ([…]).
Those measures serve as a valuable signal against moral hazard.
Ti ukrepi so pomemben znak v boju proti moralnemu tveganju.
Additionally, subordinated loans by legacy shareholders will be junior liabilities in Parex banka.
Poleg tega bodo podrejena posojila starih delničarjev postala podrejene obveznosti v banki Parex.