natgillin/translations-raw huggingface dataset:
With regard to the measures already temporarily approved by the Commission as rescue aid in its earlier decisions pertaining to Anglo and INBS (namely measures (a) to (o) as set out in recitals 66 and 67), the Commission has already concluded that those measures constitute State aid in favour of Anglo and INBS.
Glede ukrepov, ki jih je Komisija že začasno odobrila kot pomoč za reševanje v svojih prejšnjih odločitvah v zvezi z bankama Anglo in INBS (tj. ukrepi (a) do (o), navedeni v uvodnih izjavah 66 in 67), je Komisija že ugotovila, da pomenijo državno pomoč v korist bank Anglo in INBS.
As a consequence, it is not necessary to reassess whether they constitute State aid in this Decision.
Zato v tem sklepu ni treba ponovno oceniti, ali vključujejo državno pomoč.
The measures that have to be assessed in this Decision in order to determine whether they constitute State aid have already been described in recitals 68 and 69.
Ukrepi, ki jih je v tem sklepu treba oceniti, da se ugotovi, ali pomenijo državno pomoč, so že opisani v uvodnih izjavah 68 in 69.
The relevant measures are: for Anglo measure (p), for INBS measure (q) and for the merged entity measures (r) to (v).
Zadevni ukrepi so: za banko Anglo ukrep (p), za banko INBS ukrep (q) in za združeni subjekt ukrepi (r) do (v).
In that context, it should be noted that Ireland accepts that the measures represent State aid.
V zvezi s tem je treba opozoriti, da Irska priznava, da ukrepi predstavljajo državno pomoč.
Measures (p) to (v) referred to in recitals 68 and 69 are financed through State resources as the measures are made up of State guarantees and direct grants financed by the State and should therefore be considered to constitute State aid.
Ukrepi (p) do (v), navedeni v uvodnih izjavah 68 in 69, se financirajo z državnimi sredstvi, saj so sestavljeni iz državnih jamstev in neposrednih nepovratnih sredstev, ki jih financira država, torej se obravnavajo kot državna pomoč.
It is also necessary to assess whether the measures referred to in recitals 66 to 69 confer a selective advantage on the beneficiary or beneficiaries of the State aid.
Prav tako je treba oceniti, ali ukrepi, navedeni v uvodnih izjavah 66 do 69, zagotavljajo selektivno prednost upravičencu ali upravičencem državne pomoči.
The measures concerned are selective as they solely benefit Anglo, INBS and the merged entity.
Zadevni ukrepi so selektivni, ker imajo od njih korist izključno banki Anglo in INBS ter združeni subjekt.
The measures referred to in recitals 66 to 69 confer an advantage on the economic activity of both Anglo and INBS as carried on by them until the merger and their successor, the merged entity, thereafter.
Ukrepi, navedeni v uvodnih izjavah 66 do 69, zagotavljajo prednost obema bankama, Anglo in INBS, glede gospodarske dejavnosti, ki jo opravljata do združitve, in njunemu nasledniku, združenemu subjektu, po združitvi.
Anglo benefits from a State guarantee covering EUR […] billion of ELA it receives from the CBI (measure (p) referred to in recital 68), and which enables Anglo to fund its assets.
Banka Anglo ima koristi od državnega jamstva, ki pokriva […] milijard EUR pomoči ELA, prejete od CBI (ukrep (p) iz uvodne izjave 68), ki banki Anglo omogoča financiranje njenih sredstev.
Furthermore, the State guarantee on the ELA is provided without Anglo having to pay a remuneration for it.
Poleg tega se državno jamstvo za pomoč ELA zagotovi, ne da bi banka Anglo zanj morala plačati kakršno koli nadomestilo.
That absence of remuneration presents a further advantage to Anglo as it avoids the costs associated with the guarantee.
Ta odsotnost nadomestila pomeni nadaljnjo ugodnost za banko Anglo, saj se s tem izogne vsem stroškom, povezanim z jamstvom.
For the same reasons, the State guarantee on the ELA that INBS has received from 24 February 2011 onwards for an amount of EUR […] billion provides an advantage to INBS (measure (q) referred to in recital 68).
Iz enakih razlogov državno jamstvo za pomoč ELA, ki ga banka INBS prejema od 24. februarja 2011 v znesku […] milijard EUR pomeni ugodnost za banko INBS (ukrep (q), naveden v uvodni izjavi 68).
As regards the measures in favour of the merged entity, that entity will benefit from a continuation of several State guarantees, namely on the remaining deposits (measure (r) referred to in recital 68), on off-balance sheet transactions (measure (s) referred to in recital 69), on the ELA (measure (t) referred to in recital 69) and on the existing wholesale funding (measure (v) referred to in recital 69).
Kar zadeva ukrepe v korist združenega subjekta, bo ta subjekt imel koristi od nadaljevanja več državnih garancij, namreč za preostale vloge (ukrep (r), naveden v uvodni izjavi 68), za zunajbilančne transakcije (ukrep (s), naveden v uvodni izjavi 69), za pomoč ELA (ukrep (t), naveden v uvodni izjavi 69) in za obstoječe financiranje podjetij (ukrep (v), naveden v uvodni izjavi 69).
The merged entity only pays a fee for the guarantee […], the deposits and the wholesale funding for the duration of the ELG scheme (no fee will be paid thereafter), but does not pay a fee for the other guarantees.
Združeni subjekt plačuje pristojbino samo za jamstvo […], vloge in financiranje podjetij med trajanjem sheme ELG (po njenem izteku se pristojbina ne plačuje), vendar ne plačuje pristojbine za druga jamstva.
Those guarantees provide an advantage to the merged entity by helping to ensure that the merged entity does not default on its obligations.
Ta jamstva pomenijo ugodnost za združeni subjekt in pomagajo zagotoviti, da združeni subjekt ne krši svojih obveznosti.
Indeed, without the necessary funding through the guaranteed ELA, the remaining deposits and the remaining wholesale funding and without the guarantee on its off-balance sheet liabilities, an orderly resolution is not possible.
Res je, da brez nujnega financiranja prek zajamčene pomoči ELA, preostalih vlog in preostalega financiranja podjetij ter brez jamstva za njegove zunajbilančne obveznosti nadzorovano reševanje ne bi bilo mogoče.
Furthermore, the fact that the merged entity does not have to pay a fee for several of those guarantees provides a further advantage to it as it avoids higher funding costs and thus more losses.
Poleg tega dejstvo, da združenemu subjektu ni treba plačati pristojbine za več teh jamstev, subjektu zagotavlja dodatno ugodnost, saj se s tem izogne višjim stroškom financiranja in posledično večjim izgubam.
Finally, […] EUR 3,3 billion in the stress case to cover further losses as a result of the work out of its loan book.
Nenazadnje, […] 3,3 milijarde EUR v izjemnem scenariju za pokritje nadaljnjih izgub kot posledice izdelave svojega portfelja posojil.
[…] The recapitalisation […] an advantage to the merged entity as it ensures that it fulfils its relevant regulatory capital requirements during the resolution period.
[…] Dokapitalizacija […] združenemu subjektu daje prednost, saj zagotavlja, da izpolni ustrezne regulativne kapitalske zahteve med obdobjem reševanja.
Distortion of competition and effect on trade between Member State
Izkrivljanje konkurence in vpliv na trgovino med državami članicami
It should be concluded that measures (p) to (v) referred to in recitals 66 and 67 are able to distort competition and affect trade between Member States.
Ugotovimo lahko, da ukrepi (p) do (v), navedeni v uvodnih izjavah 66 in 67, lahko izkrivljajo konkurenco in vplivajo na trgovino med državami članicami.
As indicated in Section 6.1.4, without the State support measures, both Anglo and INBS would have defaulted and completely exited the markets in which they were active.
Kot je navedeno v oddelku 6.1.4, brez ukrepov državne podpore niti banka Anglo niti banka INBS ne bi izpolnili svojih obveznosti, temveč bi povsem izstopili s trgov, na katerih sta poslovali.
As a result of the very substantial amount of State support, they remained active on the deposit market (until the transfer of their deposits to Allied Irish Bank and Irish Life & Permanent in February 2011) and to a very limited degree on the commercial property lending market and residential mortgage market (servicing existing loans).
Po zaslugi ogromnega zneska državne podpore sta še naprej poslovali na depozitnem trgu (do prenosa njunih vlog na Allied Irish Bank in Irish Life & Permanent v februarju 2011) ter v zelo omejenem obsegu na trgu posojil za poslovne nepremičnine in trgu stanovanjskih hipotekarnih posojil (servisiranje obstoječih posojil).
Therefore, that State support distorted competition.
Zato je ta državna podpora izkrivljala konkurenco.
In those markets, Anglo and INBS competed not only with Irish banks but also the foreign players active in Ireland.
Na navedenih trgih banki Anglo in INBS nista konkurirali samo irskim bankam, temveč tudi tujim akterjem, ki poslujejo na Irskem.
Anglo was also active (both for deposits and commercial lending) in the United Kingdom and thus has competed with domestic UK players and players from other Member States active on that market.
Banka Anglo je poslovala (na področju vlog in poslovnih posojil) tudi v Združenem kraljestvu, torej je konkurirala domačim akterjem v Združenem kraljestvu in akterjem iz drugih držav članic, ki poslujejo na tem trgu.
It should be noted, however, that the activity of those two entities has been more and more limited over the last couple years, thus reducing the negative affect on competition and trade.
Kljub temu je treba poudariti, da je dejavnost teh dveh subjektov v zadnjih letih vedno bolj okrnjena, kar zmanjšuje negativne učinke na konkurenco in trgovino.
As regards the merged entity, it will carry out some limited economic activities in a market where both Irish and foreign banks remain active.
Kar zadeva združeni subjekt, bo ta še naprej opravljal nekatere omejene gospodarske dejavnosti na trgu, na katerem še naprej poslujejo irske in tudi tuje banke.
In particular, it will be allowed to retain a small amount of deposits and to provide some loans to its existing customers in order to increase the NPV of the loans in question in line with the commitments provided by Ireland (see Section 2.3.2).
Zlasti bo lahko obdržal majhen znesek vlog in izdal nekaj posojil svojim obstoječim strankam z namenom povečevanja ČSV zadevnih posojil v skladu z zavezami, ki jih je prevzela Irska (glej oddelek 2.3.2).
Without the State support measures, it would not be able to carry out those activities.
Brez ukrepov državne pomoči teh dejavnosti ne bi mogel opravljati.
It should be noted that as the balance sheet of the merged entity will be reduced as a result of its resolution, the distortion of competition and the affect on trade will be significantly reduced due to the very limited operations which the merged entity will continue to carry out on competitive markets.
Opozoriti je treba, da se bosta zaradi zmanjšanja bilance stanja združenega subjekta kot posledice njegovega reševanja izkrivljanje konkurence in vpliv na trgovino znatno zmanjšala zaradi zelo omejenih dejavnosti, ki jih bo združeni subjekt še naprej opravljal na konkurenčnih trgih.
Application of the market investor principle
Uporaba načela tržnega vlagatelja
Finally, the market economy investor principle does not apply to the measures referred to in recitals 66 to 69 since they are part of a substantial package of rescue measures in favour of Anglo and INBS.
Načelo tržnega vlagatelja se ne uporablja za ukrepe, navedene v uvodnih izjavah 66 do 69, saj so del velikega paketa reševalnih ukrepov za banki Anglo in INBS.
In addition, even if it were applicable, those measures are not in line with normal market conduct.
Tudi če bi se uporabljalo, ti ukrepi niso v skladu z običajnimi tržnimi praksami.
No market economy investor would implement all those measures in order to rescue Anglo and INBS and then merge them in order to work out the loan book as the chances that it would recoup its investments (total recapitalisations provided to Anglo and INBS together amount to EUR 34,7 billion in a base case) are negligible.
Noben tržni vlagatelj ne bi izvedel vseh teh ukrepov za reševanje bank Anglo in INBS ter ju nato združil, da bi izdelal portfelj posojil, saj so možnosti, da se mu te naložbe povrnejo (celotne dokapitalizacije, ki sta jih prejeli banki Anglo in INBS, skupaj znašajo 34,7 milijarde EUR v osnovnem scenariju), zanemarljive.
No market economy operator placed in a similar situation as the State would have been able to provide the amount of capital and funding needed in order to facilitate the resolution of both Anglo and INBS.
Noben udeleženec v tržnem gospodarstvu, ki bi bil v podobnem položaju kot država, ne bi mogel zagotoviti zneska kapitala in financiranja, potrebnega za pospešitev reševanja bank Anglo in INBS.
Taking into consideration the situation on the markets and the appetite for Irish assets and liabilities, it would not be possible for a market operator to obtain such financing.
Ob upoštevanju položaja na trgih in povpraševanja po irskih sredstvih in obveznostih noben tržni udeleženec ne bi mogel pridobiti takega financiranja.
Identification of the beneficiary of the aid
Identifikacija upravičenca pomoči
Ireland intends to introduce new aid measures (measures (r) to (v) referred to in recital 69) in order to facilitate the resolution of Anglo and INBS.
Irska namerava uvesti nove ukrepe pomoči (ukrepi (r) do (v), navedeni v uvodni izjavi 69) za pospešitev reševanja bank Anglo in INBS.
Those measures will enable the merger of Anglo and INBS into one legal entity.
Ti ukrepi bodo omogočili združitev bank Anglo in INBS v en pravni subjekt.
The main objective of the merged entity is to work out the loan books of Anglo and INBS with a view to maximise the return and reduce the cost for the Irish taxpayer.
Glavni cilj združenega subjekta je izdelava portfeljev posojil za banki Anglo in INBS tako, da se čim bolj poveča donos in zmanjšajo stroški za irske davkoplačevalce.
Under the joint restructuring plan, the merged entity will carry out only limited lending required by existing contractual obligations and then only to ensure that the NPV of the loan book is preserved, thus limiting the situations where it is in competition with other banks to the minimum.
V skladu s skupnim načrtom prestrukturiranja bo združeni subjekt opravljal samo omejeno posojilno dejavnost, ki izhaja iz obstoječih pogodbenih obveznosti, in nato zagotovil, da se ohrani ČSV iz portfelja posojil, s čimer bo omejil primere, v katerih konkurira z drugimi bankami, na najmanjšo možno raven.
The merged entity will, according to Ireland, only realise its assets as they mature or by selling them on the market.
Po navedbah Irske bo združeni subjekt sredstva sprostil šele, ko bodo unovčljiva ali ko jih bo prodal na trgu.
The merged entity will use the proceeds of those sales to repay its debts as they become due and fund its ongoing operational costs as well as any retained historic liabilities.
Združeni subjekt bo s prihodki od te prodaje odplačal svoje dolgove, ko bodo zapadli, ter kril tekoče stroške poslovanja in kakršne koli neporavnane pretekle obveznosti.
It should, therefore, be concluded that the merged entity will continue to carry out some limited economic activities following the merger and thus should be considered as a beneficiary of the State aid measures.
Potemtakem lahko ugotovimo, da bo združeni subjekt po združitvi še naprej opravljal nekaj omejenih gospodarskih dejavnosti, zato se lahko obravnava kot upravičenec ukrepov državne pomoči.
With regard to Anglo and INBS, prior to the intended merger they have both been able to continue to operate aided by State guarantees on their liabilities, recapitalisations and an asset relief measure (measures (a) to (o) referred to in recitals 67 and 68).
Kar zadeva banki Anglo in INBS, sta obe banki pred predvideno združitvijo še naprej lahko poslovali ob pomoči državnih jamstev za njune obveznosti, dokapitalizacij in ukrepa finančne pomoči za oslabljena sredstva (ukrepi (a) do (o), navedeni v uvodnih izjavah 67 in 68).
Anglo and INBS are therefore the beneficiaries of those measures.
Zato je treba banki Anglo in INBS obravnavati kot upravičenki teh ukrepov.
On the basis of the foregoing, it should be concluded that measures (a) to (v) referred to in recitals 68 and 69 constitute State aid.
Na podlagi zgoraj navedenega je treba skleniti, da ukrepi (a) do (v) iz uvodnih izjav 68 in 69, pomenijo državno pomoč.
Recapitalisations of Anglo and INBS
Dokapitalizacije bank Anglo in INBS
Both Anglo and INBS have received individual State aid in the form of several recapitalisations.
Banki Anglo in INBS sta obe prejeli posamezno državno pomoč v obliki več dokapitalizacij.
Anglo received a total of EUR 29,3 billion through four capital injections [55].
Banka Anglo je skupno prejela 29,3 milijarde EUR v štirih kapitalskih vložkih [55].
INBS received a total of EUR 5,4 billion through two capital injections.
Banka INBS je skupno prejela 5,4 milijarde EUR v dveh kapitalskih vložkih.
Impaired asset measure for Anglo and INBS
Ukrep finančne pomoči za oslabljena sredstva za banki Anglo in INBS
Both Anglo and INBS have participated in NAMA (measures (d) and (m) referred to in recitals in 66 and 67).
Obe banki, Anglo in INBS, sta sodelovali z agencijo NAMA (ukrepi (d) in (m) iz uvodnih izjav 66 in 67).
As regards the aid amount included in the impaired asset measure, namely the transfer of assets to NAMA, it should be noted that footnote 2 to paragraph 20(a) of the Impaired Assets Communication (hereinafter referred to as ‘IAC’) [56] defines the aid amount in an asset relief measure as the difference between the transfer value of the assets and the market price.
Kar zadeva znesek pomoči, ki je vključen v ukrep finančne pomoči za oslabljena sredstva, namreč prenos sredstev na agencijo NAMA, je treba opozoriti, da opomba 2 k odstavku 20(a) Sporočila Komisije o obravnavanju oslabljenih sredstev (v nadaljevanju: IAC) [56] opredeljuje znesek pomoči v okviru ukrepa finančne pomoči za oslabljena sredstva kot razliko med vrednostjo sredstev ob prenosu in tržno ceno.
However, it is very difficult to estimate the market value of the covered assets as most of them are loans which are not traded.
Kljub temu je zelo težko oceniti tržno vrednost zajetih sredstev, saj večina teh sredstev predstavlja posojila, s katerimi se ne trguje.
Furthermore, the actual aid amount can only be determined after the valuation by Ireland of the assets transferred to it has been finalised in line with the Commission’s Decision in Case N 725/09 [57] which will lead to final conclusions regarding the amount of aid involved.
Poleg tega se bo lahko dejanski znesek pomoči določil šele potem, ko bo Irska dokončala oceno sredstev, ki so bila prenesena nanjo, v skladu z odločitvijo Komisije v zadevi N 725/09 [57], kar bo vodilo h končnim ugotovitvam v zvezi z višino vključene pomoči.
In that context, information on the amount of aid associated with the first and second tranches of loans transferred to NAMA has been made available to the Commission, while the information on the final tranches is still pending.
V zvezi s tem so bile Komisiji dane na voljo informacije o višini pomoči, povezane s prvo in drugo tranšo posojil, prenesenih na NAMA, medtem ko informacije o zadnjih tranšah še vedno niso na voljo.
Based on the information available for the first and second tranches transferred to NAMA, a number of conclusions may be made.
Na podlagi razpoložljivih informacij za prvo in drugo tranšo, ki sta bili preneseni na agencijo NAMA, je mogoče priti do številnih ugotovitev.
Accordingly, the average percentage of aid to nominal loan balances for the two tranches is 7,9 %.
V skladu s tem je povprečni odstotek pomoči, če se uporabi za nominalni saldo posojil pri obeh tranšah, 7,9 %.
Accordingly, the average percentage of aid to nominal loan balances for the two tranches is 9 %.
V skladu s tem je povprečni odstotek pomoči, če se uporabi za nominalni saldo posojil pri obeh tranšah, 9 %.
Although the exact amount of State aid for the still outstanding tranches will be verified at a later stage, it is not necessary to know the exact aid amount contained in those last tranches in order to assess the joint restructuring plan’s compatibility with the Treaty as: (i) the way the transfer price will be determined has already been agreed by the Commission in its Decision on NAMA [60]; (ii) any potential change in the aid amount will not affect the Commission’s assessment of the aid in this Decision given the large amounts already involved and the fact that Anglo and INBS will completely exit the market; and (iii) in particular, an increased aid would not increase the distortion of competition created by the resolution of the merged entity as it would not mean that the merged entity would carry out more competitive activities.
Čeprav bo točen znesek državne pomoči za preostale tranše preverjen v poznejši fazi, ni treba poznati točnega zneska pomoči, vsebovanega v teh zadnjih tranšah, da se oceni združljivost skupnega načrta prestrukturiranja s Pogodbo, ker: (i) je način določitve cene prenosa Komisija že potrdila v svoji odločitvi o NAMA [60]; (ii) morebitne spremembe zneska pomoči ne bodo vplivale na oceno pomoči, ki jo je Komisija podala v tem sklepu, glede na že vključene velike zneske in dejstvo, da bosta banki Anglo in INBS povsem izstopili s trga; in (iii) zlasti ker zvišanje pomoči ne bi povečalo izkrivljanja konkurence kot posledice reševanja združenega subjekta, saj to ne pomeni, da bo združeni subjekt opravljal več konkurenčnih dejavnosti.
Guarantees for Anglo and INBS
Jamstva za banki Anglo in INBS
Anglo and INBS have also participated in the CIFS and ELG guarantee schemes (measures (a), (c), (g), (j), (l) and (n) referred to in recitals 66 and 67).
Banki Anglo in INBS sta sodelovali tudi pri jamstvenih shemah CIFS in ELG (ukrepi (a), (c), (g), (j), (l) in (n), navedeni v uvodnih izjavah 66 in 67).
The amount of the liabilities covered for each institution under both schemes has fluctuated over time.
Znesek obveznosti, ki jih pokrivata obe shemi za vsako institucijo, se je skozi čas spreminjal.
For instance, in the case of Anglo, the liabilities covered under the CIFS scheme peaked at EUR […] billion in September 2008, decreasing to EUR […] billion as at 30 June 2010, partly as a result of the introduction of the ELG.
Tako so na primer v primeru banke Anglo obveznosti, ki jih pokriva shema CIFS, dosegle najvišjo vrednost […] milijard EUR v septembru 2008 in se znižale na […] milijard EUR na dan 30. junija 2010, delno kot posledica uvedbe sheme ELG.
Furthermore, Anglo’s liabilities covered by the ELG, decreased to EUR […] billion as at 31 March 2011 from a peak of EUR […] billion as at 30 June 2010 as a result of the transfer of its deposits to Allied Irish Banks.
Poleg tega so se obveznosti banke Anglo, ki so pokrite s shemo ELG, na dan 31. marca 2011 zmanjšale na […] milijard EUR, potem ko so svojo najvišjo vrednost […] milijard EUR dosegle na dan 30. junija 2010 zaradi prenosa vlog na Allied Irish Banks.
For INBS, the same trend can be observed.
Pri banki INBS je mogoče opaziti enako smer razvoja.
In addition, both Anglo and INBS have received State guarantees on short-term liabilities and ELA, while Anglo has also received a State guarantee […] on its off-balance sheet liabilities.
Poleg tega sta obe banki, Anglo in INBS, prejeli državna jamstva za kratkoročne obveznosti in pomoč ELA, medtem ko je banka Anglo prejela tudi državno jamstvo […] za svoje zunajbilančne obveznosti.
It should be noted that, as regards companies in financial difficulty, if a bank is not able to raise sufficient non-guaranteed debt to cover all its funding needs, the aid element of such guarantees might go up to the level of their nominal value.
Pri podjetjih v finančnih težavah je treba upoštevati, da se element pomoči pri takih jamstvih lahko poveča do stopnje njihove nominalne vrednosti, če banka ni sposobna pridobiti dovolj nezajamčenega dolga za pokritje vseh svojih potreb financiranja.