natgillin/translations-raw huggingface dataset:
The Commission had reservations that WestLB was to continue to manage the impaired assets, as a bank should concentrate on new activities and avoid any conflict between running down and new activities.
Komisija je imela zadržke, da naj bi banka WestLB še naprej upravljala oslabljena sredstva, saj bi se banka morala osredotočiti na nove dejavnosti in preprečevati nasprotja med starimi in novimi dejavnostmi.
However, as WestLB/SPM bank will after 30 June 2012 no longer conduct any new banking activities, but only asset management services, the Commission's doubts have been assuaged.
Vendar so bili pomisleki Komisije odpravljeni, ker banka WestLB/SPM po 30. juniju 2012 ne bo več izvajala novih bančnih dejavnosti, ampak le storitve na področju upravljanja sredstev.
To conclude, having considered all additional potentially mitigating factors and arguments submitted by Germany, the Commission's doubts have not been allayed.
Skratka, pomisleki Komisije ob upoštevanju vseh dodatnih morebitnih olajševalnih dejavnikov in argumentov, ki jih je predložila Nemčija, niso bili odpravljeni.
Therefore, it continues to consider the transfer delta to be equal to EUR 3,414 billion.
Zato Komisija še vedno meni, da je delta prenosa enaka 3,414 milijarde EUR.
Claw back
Vračanje sredstev
According to point 41 of the Impaired Assets Communication, in order to mitigate the distortions of competition stemming from a transfer of the assets above the value that is considered acceptable to make up for the market failure at the relevant time, the transfer delta should be returned by the bank.
Banka mora v skladu s točko 41 Sporočila o oslabljenih sredstvih, da bi se ublažilo izkrivljanje konkurence, ki izhaja iz prenosa sredstev nad vrednostjo, ki velja za sprejemljivo, da se nadoknadi nedelovanje trga v ustreznem času, vrniti delto prenosa.
If such a repayment is not immediately possible then it should be achieved over time in the form of a claw back.
Če tako povračilo ni mogoče takoj, ga je treba doseči sčasoma v obliki vračanja sredstev.
Where even such a repayment through a claw back is not possible without leading to technical insolvency, the distortion of competition needs to be compensated by in-depth restructuring, which can go as far as liquidation [90].
Kadar bi celo povračilo v obliki vračanja sredstev vodilo v tehnično plačilno nesposobnost, je treba izkrivljanje konkurence odpraviti z intenzivnim prestrukturiranjem, ki lahko vključuje celo likvidacijo [90].
WestLB indicated in its restructuring plan presented in February 2011 that it wasn't even able to pay back the EUR 3,4 billion from the first asset transfer to the EAA without jeopardising its viability.
Banka WestLB je v načrtu prestrukturiranja, predstavljenem februarja 2011, navedla, da ni sposobna odplačati 3,4 milijarde EUR od prvega prenosa sredstev na banko EAA brez ogrozitve uspešnega poslovanja.
The Commission considers that the liquidation of WestLB is sufficient to make up for the distortions of competition.
Komisija meni, da je likvidacija banke WestLB zadostna za odpravljanje izkrivljanja konkurence.
Therefore, subject to the requirement that the liquidation plan is credible, which will be assessed in section c, the Commission finds the aid to be in line with the Impaired Assets Communication and compatible with the internal market on the basis of Article 107(3)(b) TFEU.
Zato Komisija pod pogojem, da je načrt likvidacije verodostojen, kar bo ocenjeno v oddelku c, ugotavlja, da je pomoč v skladu s Sporočilom o oslabljenih sredstvih in združljiva z notranjim trgom na podlagi člena 107(3)(b) PDEU.
Compatibility of the replenishment
Združljivost dopolnitve
The transfer of the second tranche must also in principle be assessed under the Impaired Assets Communication.
Prenos druge tranše mora biti načeloma ocenjen tudi v skladu s Sporočilom o oslabljenih sredstvih.
However, the Commission considers, on the basis of the June 2011 restructuring plan, that the result of such an assessment would no longer have an impact.
Vendar Komisija na podlagi načrta prestrukturiranja iz junija 2011 meni, da rezultat take ocene ne bi več imel vpliva.
The transfer of assets is thus compatible because the potential distortions of competition are mitigated by the liquidation of WestLB and hence in line with point 41 of the Impaired Assets Communication.
Prenos sredstev je torej združljiv, ker morebitno izkrivljanje konkurence blaži likvidacija banke WestLB, zato je v skladu s točko 41 Sporočila o oslabljenih sredstvih.
c. COMPATIBILITY OF THE RESTRUCTURING/LIQUIDATION AID
c. ZDRUŽLJIVOST POMOČI ZA PRESTRUKTURIRANJE/LIKVIDACIJO
The Commission must assess the compatibility of all aid measures on the basis of its guidelines for dealing with banks in the financial crisis, in particular the Restructuring Communication and the Commission communication The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis [91] (hereinafter called “the Banking Communication”).
Komisija mora oceniti združljivost vseh ukrepov pomoči na podlagi svojih smernic za obravnavanje bank med finančno krizo, zlasti Sporočila o prestrukturiranju in Sporočila Komisije Uporaba pravil o državni pomoči za ukrepe v zvezi s finančnimi institucijami v okviru trenutne svetovne finančne krize [91] (v nadaljnjem besedilu: Sporočilo o bančništvu).
The Commission notes that the June 2011 restructuring plan needs to ensure the compatibility of the aid measures indicated in Table 7.
Komisija opozarja, da mora načrt prestrukturiranja iz junija 2011 zagotoviti združljivost ukrepov pomoči iz preglednice 7.
Those measures amount to a total aid amount of EUR [21,6-24,4] billion, which is equivalent to an aid amount in relation to RWA as of 31 December 2009 of [24,4-27,6]%.
Ti ukrepi pomenijo skupni znesek pomoči [21,6–24,4] milijarde EUR, kar je enakovredno znesku pomoči v zvezi s tveganju prilagojenimi sredstvi na dan 31. decembra 2009, ki znaša [24,4–27,6] %.
That amount of aid must be considered a very large proportion of the beneficiary's size and thus requires in-depth restructuring or liquidation.
Ta znesek pomoči se mora šteti za zelo velik delež velikosti upravičenca, zato je potrebno globinsko prestrukturiranje ali likvidacija.
Moreover, the restructuring plan also needs to consider the additional distortions of competition stemming from the a priori incompatible amount of aid identified by the transfer delta.
Poleg tega mora načrt prestrukturiranja upoštevati tudi dodatno izkrivljanje konkurence, ki izhaja iz apriorno nezdružljivega zneska pomoči, ki ga opredeljuje delta prenosa.
The proposed restructuring or liquidation must be adequate to address that distortion.
Predlagano prestrukturiranje ali likvidacija mora biti ustrezna za odpravo tega izkrivljanja.
The June 2011 restructuring plan meets the criteria set out in the Restructuring Communication.
Načrt prestrukturiranja iz junija 2011 izpolnjuje merila iz Sporočila o prestrukturiranju.
Point 21 of the Restructuring Communication states that an orderly winding down or the auctioning off of a failed bank should be considered where a bank cannot credibly return to long-term viability.
V točki 21 Sporočila o prestrukturiranju je navedeno, da je treba obravnavati možnost pravilne likvidacije ali dražbe propadle banke, kadar njeno dolgoročno uspešno poslovanje ni več verjetno.
The Banking Communication provides for a procedure within the framework of which such an orderly winding down should take place [92].
Sporočilo o bančništvu določa postopek, v okviru katerega je treba izvesti pravilno likvidacijo [92].
A controlled liquidation of that kind may be applied in individual cases after rescue aid has been given to an individual financial institution when it becomes clear that the latter cannot be restructured successfully.
Tovrstno nadzorovano likvidacijo je mogoče uporabiti v posameznih primerih, ko je posamezna finančna institucija že prejela pomoč za reševanje, ko postane jasno, da finančne institucije ni mogoče uspešno prestrukturirati.
In order for liquidation aid to be compatible with Article 107(3)(b) TFEU, the liquidation aid has, according to the Commission's decision-making practice [93], to satisfy the following three general conditions:
Da bi bila pomoč za likvidacijo združljiva s členom 107(3)(b) PDEU, mora ta pomoč v skladu s prakso odločanja Komisije [93] izpolnjevati tri splošne pogoje:
it should be demonstrated that the aid enables the bank to be effectively wound down in an orderly fashion, while limiting the aid amount to the minimum necessary in view of the objective pursued [94];
dokazati je treba, da pomoč omogoča učinkovito in pravilno likvidacijo banke, pri čemer je znesek pomoči omejen na najmanjšega potrebnega glede na zastavljen cilj [94];
appropriate burden sharing should be ensured, in particular by excluding shareholders from receiving benefit of any aid in the context of the controlled winding-down procedure [95];
zagotoviti bi bilo treba ustrezno delitev bremen, zlasti s preprečitvijo, da delničarji prejmejo kakršno koli pomoč v okviru nadzorovanega postopka likvidacije [95];
The banking licence should be withdrawn as soon as possible [96].
Dovoljenje za opravljanje bančnih storitev ji je treba odvzeti čim prej [96].
Demonstration of an orderly winding down
Prikaz pravilne likvidacije
The Commission considers the June 2011 restructuring plan to represent an orderly winding-down scenario for WestLB which is based upon a burden-sharing agreement among the bank's shareholders.
Komisija meni, da načrt prestrukturiranja iz junija 2011 predstavlja scenarij pravilne likvidacije za banko WestLB, ki temelji na dogovoru o delitvi bremen med delničarji banke.
The June 2011 restructuring plan takes into account in particular the fact that other market-oriented possible solutions for WestLB which might have been less costly or less distortive have already been explored for more than two years without success.
Načrt prestrukturiranja iz junija 2011 upošteva zlasti dejstvo, da so poskusi izvajanja drugih možnih tržno usmerjenih rešitev za banko WestLB, ki bi lahko pomenile manjši strošek ali manjše izkrivljanje, neuspešno potekali več kot dve leti.
An uncontrolled liquidation procedure, on the other hand, would pose a threat to financial stability; that risk is better addressed by the orderly winding-down scenario.
Po drugi strani bi nenadzorovan likvidacijski postopek pomenil grožnjo za finančno stabilnost; to tveganje bi bilo bolje nadzorovano v okviru scenarija pravilne likvidacije.
The June 2011 restructuring plan allows the Commission to assess the winding-down process and the potential competitive impact of the state measures involved therein.
Načrt prestrukturiranja iz junija 2011 Komisiji omogoča oceno likvidacijskega postopka in morebitnega vpliva zadevnih državnih ukrepov na konkurenčnost.
The most important criterion for the classification as winding-down scenario is that the bank will stop all banking activities and remains in business only to run down the existing portfolios but not contract any new business.
Najpomembnejše merilo za potrditev scenarija likvidacije je, da bo banka prenehala z vsemi bančnimi dejavnostmi in poslovala le še do konca obstoječih portfeljev, pri čemer ne bo sklepala novih poslovnih pogodb.
The stopping of banking activities should be ensured inter alia by a sale or transfer of all of a bank's remaining assets and liabilities, so that only a rump would remain where that is necessary to assist in the run-down of existing assets in particular to ensure a value-preserving wind-down of its portfolios.
Ustavitev bančnih dejavnosti bi morala biti med drugim zavarovana s prodajo ali prenosom vseh preostalih sredstev in obveznosti banke, da ostane le še majhen del, kadar je to potrebno za pomoč pri zmanjševanju obstoječih sredstev, zlasti za zagotovitev likvidacije njenih portfeljev, v okviru katere se ohrani vrednost.
On the basis of the June 2011 restructuring plan, WestLB will transfer all its banking assets either to the savings banks or to the EAA.
Na podlagi načrta prestrukturiranja iz junija 2011 bo banka WestLB vsa svoja bančna sredstva prenesla na hranilnice ali na banko EAA.
Therefore by 30 June 2012 the bank will remain with almost no risk-weighted assets.
Zato bo banka do 30. junija 2012 ostala skoraj brez vseh tveganju prilagojenih sredstev.
The remaining bank will, according to the commitments provided by Germany, no longer use its brand name "WestLB" but will be rebranded “SPM bank” within a period of not more than three months.
Preostala banka v skladu z zavezami Nemčije ne bo več uporabljala blagovne znamke „WestLB“, ampak se bo najpozneje v treh mesecih preimenovala v banko „SPM“.
Moreover, the bank will no longer continue banking activities on its own account but merely be a service provider for the EAA and to a limited amount eventually for third parties.
Poleg tega banka ne bo več sama nadaljevala z bančnimi dejavnostmi, ampak bo delovala le kot ponudnica storitev za banko EAA in sčasoma v omejenem obsegu za tretje stranke.
Therefore significant and irreversible steps have been laid out in the restructuring plan, which mark an irrevocable exit from the market for the majority of WestLB's former activities within 12 months.
Zato so v načrtu prestrukturiranja določeni pomembni in trajni koraki, ki označujejo nepreklicen izhod s trga za večino nekdanjih dejavnosti banke WestLB v 12 mesecih.
Second, in line with the requirement set out in point 47 of the Banking Communication, the liquidation phase is limited to the period strictly necessary for the orderly winding down in order to avoid undue distortions of competition.
Drugič, v skladu z zahtevo iz točke 47 Sporočila o bančništvu je faza likvidacije omejena na obdobje, ki je nujno potrebno za pravilno likvidacijo, da bi se preprečilo nepotrebno izkrivljanje konkurence.
Although the winding down of WestLB will take several years, it can still be considered to be limited to the shortest period possible.
Čeprav bo likvidacija banke WestLB potekala več let, se še vedno lahko šteje, da bo omejena na najkrajše mogoče obdobje.
Only the servicing company will engage in competition, offering a limited amount of asset management services to third parties.
Konkurenčno bo delovala le družba za upravljanje, ki bo tretjim osebam ponujala omejen obseg storitev na področju upravljanja sredstev.
SPM bank itself will remain responsible for assets that cannot be physically transferred to the EAA, and so its lifespan is therefore driven by the maturity of those assets.
Banka SPM bo še naprej odgovorna za sredstva, ki jih ni mogoče fizično prenesti na banko EAA, zato je njena življenjska doba odvisna od zapadlosti teh sredstev.
The value-preserving wind-down of the portfolios should take until 2028, and that time period cannot be shortened.
Likvidacija portfeljev, v okviru katere se ohrani vrednost, naj bi trajala do leta 2028, pri čemer tega časovnega obdobja ni mogoče skrajšati.
However, serving as a holder of assets is as such not an economic activity so that it is without effect on competition.
Vendar delovanje kot imetnik sredstev kot tak ni gospodarska dejavnost, pri čemer nima vpliva na konkurenco.
While the reduction of the workforce in SPM bank will take some years to reach the target size of 1000 employees, that reduction in workforce is still in line with the reduction of the activity level of SPM bank, given that the reorganization of SPM bank will be a labour-intensive process even if banking activities are no longer pursued.
Zmanjševanje delovne sile v banki SPM bo potekalo nekaj let, da bo dosežena ciljna velikost 1000 zaposlenih, a je še vedno v skladu z zmanjševanjem ravni dejavnosti banke SPM, saj bo reorganizacija banke SPM delovno intenziven postopek, čeprav banka ne bo več izvajala bančnih dejavnosti.
In sum, all those processes can be deemed to be limited to the shortest period possible.
Trditi je mogoče, da bodo vsi ti postopki omejeni na najkrajše mogoče obdobje.
The third criterion is that the bank should not continue its activities in the market except for selling its assets, making sure that only an insignificant part of the former bank activities will as such stay in the market.
Tretje merilo je, da banka z izjemo prodaje svojih sredstev ne bi smela nadaljevati svojih dejavnosti na trgu, pri čemer je treba zagotoviti, da bo na trgu ostal le nepomemben del nekdanjih bančnih dejavnosti kot takih.
Some activities associated together as the Verbundbank will be taken over by Helaba.
Nekatere dejavnosti, povezane kot Verbundbank, bo prevzela banka Helaba.
The Verbundbank activities represent in terms of balance sheet size less than 20 % of WestLB's former balance sheet (the Verbundbank portfolio will represent a balance sheet size of EUR 45 billion at maximum, compared with WestLB's total balance sheet of EUR 288 billion in 2008).
Dejavnosti Verbundbank v smislu obsega bilance stanja predstavljajo manj kot 20 % nekdanje bilance stanja banke WestLB (portfelj Verbundbank bo predstavljal obseg bilance stanja največ 45 milijard EUR, pri čemer je bila skupna bilanca stanja banke WestLB leta 2008 288 milijard EUR).
In terms of staff size the Commission notes that less than 10 % of WestLB's former staff will continue working in the carved-out Verbundbank sector (approximately 400 employees in the Verbundbank sector, compared with WestLB's initial staff of 5661 employees in 2008).
Komisija v zvezi z obsegom osebja navaja, da bo manj kot 10 % nekdanjega osebja banke WestLB še naprej delalo v izčlenjenem sektorju Verbundbank (približno 400 zaposlenih v sektorju Verbundbank v primerjavi s prvotnim številom osebja v banki WestLB leta 2008, ki je znašalo 5661 zaposlenih).
Moreover, it should be noted that the Verbundbank will be carved out through a hive-off of assets and liabilities and not be transferred as a fully-fledged bank.
Poleg tega je treba opozoriti, da bo Verbundbank izčlenjena prek oddaje sredstev in obveznosti ter ne bo prenesena kot samostojna banka.
As the transaction does thus not concern WestLB but only a small part of its assets and liabilities, the transaction cannot be considered a significant sale of the bank.
Ker transakcija torej ne zadeva banke WestLB, ampak le majhen del njenih sredstev in obveznosti, je ni mogoče šteti za znatno prodajo banke.
Moreover, the Commission has no indication that the requirements of point 49 of the Banking Communication are not fulfilled, according to which a transaction should take place on market terms and maximise the sales price for the assets and liabilities involved.
Komisija poleg tega ne opaža, da zahteve iz točke 49 Sporočila o bančništvu, v skladu s katerimi mora transakcija potekati pod tržnimi pogoji in čim bolj povečati prodajno ceno za zadevna sredstva in obveznosti, ne bi bile izpolnjene.
In that regard the Commission notes that WestLB had set up an unsuccessful sales process that aimed to maximise the sales price for all its assets and liabilities.
Komisija v zvezi s tem opozarja, da je banka WestLB pripravila neuspešen prodajni postopek, katerega cilj je bil čim bolj povečati prodajno ceno vseh njenih sredstev in obveznosti.
However, WestLB did not receive any acceptable offers.
Vendar banka WestLB ni prejela sprejemljivih ponudb.
Furthermore the company value of the Verbundbank activities, which include assets, liabilities, and an organisational structure with approximately 400 employees, is being reviewed by several external auditors on the basis of well-established valuation methods.
Poleg tega vrednost podjetja dejavnosti Verbundbank, ki zajemajo sredstva, obveznosti in organizacijsko strukturo s približno 400 zaposlenimi, pregleduje več zunanjih revizorjev na podlagi uveljavljenih metod za vrednotenje.
Germany commits that the Verbundbank activities, which will either be taken over by Helaba or the savings banks sector, will have a company value of zero, in line with the Eckpunktevereinbarung.
Nemčija se zavezuje, da bodo imele dejavnosti Verbundbank, ki jih bo prevzela banka Helaba ali sektor hranilnic, vrednost podjetja nič, v skladu s sporazumom Eckpunktevereinbarung.
In fact, unlike other sales processes in liquidation cases [97], the divestment of the Verbundbank activities by WestLB will not require any additional payments by public authorities.
Za odsvojitev dejavnosti Verbundbank od banke WestLB za razliko od drugih prodajnih postopkov v primerih likvidacije [97] ne bodo zahtevana dodatna plačila javnih organov.
The Commission can therefore not see any undue benefit to the entity that will take over the Verbundbank activities and therefore concludes that neither Helaba nor the savings banks obtain any aid arising from the divestment of the Verbundbank activities.
Komisija zato ne vidi nepotrebne koristi za subjekt, ki bo prevzel dejavnosti Verbundbank, in meni, da banka Helaba in hranilnice zaradi odsvojitve dejavnosti Verbundbank ne bodo pridobile pomoči.
In any event, the rules for a sale of the entire bank envisaged in points 17 onwards of the Restructuring Communication are, even if they do not apply in this case [98], also met in the present case.
V vsakem primeru so pravila za prodajo celotne banke iz točke 17 in nadaljnjih točk Sporočila o prestrukturiranju, čeprav se v tem primeru ne uporabljajo [98], prav tako izpolnjena.
The rules for such a sale require meeting the following criteria: restoring viability, burden sharing and mitigating distortions of competition.
Pravila za tako prodajo zahtevajo izpolnjevanje naslednjih meril: ponovne vzpostavitve uspešnega poslovanja, delitve bremen in blažitve izkrivljanja konkurence.
The divestment to Helaba meets those criteria.
Odsvojitev na banko Helaba izpolnjuje ta merila.
First, Helaba should be able to ensure viability of the transferred bank, given that the Verbundbank – compared with Helaba – is rather small in terms of balance sheet size and headcount, and has only a small impact on the profitability of the merged entity.
Prvič, Helaba bi morala biti sposobna zagotoviti uspešno poslovanje prenesene banke, saj je Verbundbank v primerjavi s Helabo precej majhna, kar zadeva obseg bilance stanja in število zaposlenih, pri čemer ima le majhen vpliv na donosnost združenega subjekta.
On the other hand the merger should lead to savings in relation to those costs that would prevent a positive assessment of the Verbundbank on a stand-alone basis [99].
Združitev bi po drugi strani pomenila prihranek v zvezi s tistimi stroški, ki bi preprečili pozitivno oceno Verbundbank na samostojni podlagi [99].
Second, burden sharing is ensured because the WestLB shareholders will not receive any proceeds from the sale but instead lose their capital in WestLB.
Drugič, delitev bremen je zagotovljena, ker delničarji banke WestLB ne bodo prejeli prihodkov iz prodaje, ampak bodo izgubili kapital v banki WestLB.
Third, as the activities of WestLB will be reduced to less then 20 % of those of the bank as it originally existed, the Commission's decision-making practice is not to require any additional compensatory measures for such a sale [100].
Tretjič, ker se bodo dejavnosti banke WestLB zmanjšale na manj kot 20 % dejavnosti banke v prvotni obliki, praksa odločanja Komisije narekuje, da se za tako prodajo ne zahtevajo dodatni izravnalni ukrepi [100].
In addition, the Commission has no reason to assume that the Verbundbank as a bundle of assets can be seen as the economic successor of WestLB.
Komisija poleg tega nima razloga za sklepanje, da je mogoče Verbundbank kot sklop sredstev videti kot gospodarsko naslednico banke WestLB.
Helaba is neither the legal successor of WestLB nor has the Verbundbank any significant functional identity with WestLB.
Banka Helaba ni pravna naslednica banke WestLB, prav tako Verbundbank nima pomembne funkcionalne identitete pri banki WestLB.
Helaba does thus not meet the criteria for establishing the existence of a continuing economic entity which the Commission has used in order to establish whether state aid has been extended to a firm which continues the activity of the original firm [101].
Helaba zato ne izpolnjuje meril za dokaz obstoja trajnega gospodarskega subjekta, ki jih je Komisija uporabila za ugotavljanje, ali je državna pomoč zajemala tudi podjetje, ki nadaljuje dejavnost prvotnega podjetja [101].