natgillin/translations-raw huggingface dataset:
The losses which ING booked on its investments, as well as the loan loss provisions ("LLPs") it made, are the result of the crisis and specific de-risking measures which ING took to shield itself from the impact of that crisis.
Izgube, ki jih je ING knjižila na svoje naložbe, in tudi rezervacije za izgube pri posojilih, ki jih je ustvarila, so rezultat krize in posebnih ukrepov za zmanjševanje tveganj, ki jih je ING sprejela, da bi se zaščitila pred vplivom navedene krize.
ING submits that it has been agreed between the Commission, the monitoring trustee and ING that the benchmark for the price leadership ban is the entire market: online and offline, and covering small and large competitors.
ING navaja, da so Komisija, nadzorni fiduciar in ING soglašali, da je referenčni okvir za prepoved narekovanja cen celotni trg, kar pomeni spletni in tradicionalni trg, ki zajema majhne in velike konkurente.
ING is also of the opinion that there is no reason to make a distinction between the online and the offline market for financial products, since there are no longer pure on- and offline banks.
ING tudi meni, da v zvezi s finančnimi produkti ni razloga za razlikovanje med spletnim in tradicionalnim trgom, saj banke niso več zgolj spletne ali zgolj tradicionalne.
Observations from De Nederlandsche Bank NV
Pripombe banke De Nederlandsche Bank NV
De Nederlandsche Bank NV ("DNB") is the prudential supervisor of financial institutions in the Netherlandsand in that capacity it wants to react to the following matters:
Banka De Nederlandsche Bank NV (v nadaljnjem besedilu: DNB) je bonitetni nadzornik finančnih institucij na Nizozemskem in se zaradi svojega položaja želi odzvati na naslednje zadeve:
the appropriateness of the remuneration of the recapitalisation measure and on ING's decision not to pay a dividend for three consecutive years;
ustreznost nadomestila ukrepa dokapitalizacije in odločitev ING, da ne bo plačala dividend tri zaporedna leta, ter
the replacement of the WUB divestment by the Van Gogh scenario
nadomestitev odsvojitve banke WUB s scenarijem Van Gogh.
With respect to the remuneration issue, DNB argues that, - in its view -, ING was not in a position to pay dividends to its shareholders.
V zvezi z vprašanjem nadomestila DNB trdi, da po njenem mnenju ING svojim delničarjem ni mogla plačati dividend.
In that regard, DNB explains that ceteris paribus [25], a dividend payment reduces an institution's capital and therefore has to be analysed from a prudential perspective.
V zvezi s tem DNB pojasni, da pod enakimi pogoji [25] plačilo dividend zmanjša kapital institucije in ga je zato treba analizirati z vidika preudarnosti.
Further, DNB explains that its prudential assessments are prospective and therefore take into account, for instance, changing regulatory requirements.
DNB nadalje pojasni, da se njene ocene preudarnosti navezujejo na prihodnost in zato upoštevajo na primer spreminjanje zakonskih zahtev.
Concretely, DNB refers to the introduction of Basel III, which will significantly raise the capital requirements for banks.
DNB se konkretno sklicuje na uvedbo svežnja Basel III, ki bo znatno povečal kapitalske zahteve za banke.
In the view of DNB "the single most important way to grow into these new requirements is by way of retaining earnings".
Po mnenju DNB je „edini najpomembnejši način za prilagoditev navedenim novim zahtevam zadržanje dobička“.
DNB describes that in both 2010 and 2011 ING and DNB were in a continuous dialogue in which ING attempted to maximise the repayment of State aid under the constraint that the capital position had to remain prudentially acceptable.
DNB navaja, da sta bili leta 2010 in 2011 ING in DNB v nenehnem dialogu, v katerem je ING poskušala čim bolj povečati odplačilo državne pomoči v skladu z omejitvijo, da kapitalski položaj ostane bonitetno sprejemljiv.
As a result, there was no room in ING's capital position to pay out dividends or engage in any other activities reducing ING's core capital position further.
Zato v kapitalskem položaju ING ni bilo prostora za izplačilo dividend ali vključevanje v druge dejavnosti, ki bi osrednji kapitalski položaj ING dodatno zmanjšale.
DNB also commented on the viability of the Van Gogh scenario.
DNB je podala pripombe tudi glede sposobnosti preživetja scenarija Van Gogh.
DNB argues that when it looks at WUB in isolation, the vast majority of WUB's business is asset-driven (loans) rather than liability-driven (savings).
DNB trdi, da se zgolj z vidika banke WUB, kot samostojne ustanove, velika večina njenega poslovanja izvaja na podlagi sredstev (posojil) in ne na podlagi obveznosti (prihranki).
It is therefore inherent to WUB's asset-driven business model that it will always have a certain retail funding gap.
Zato je za poslovni model na podlagi sredstev banke WUB značilna stalno prisotna določena stopnja vrzeli v financiranju za prebivalstvo.
Taking into account the difficulty of obtaining sufficient wholesale funding in the current economic climate, it is essential for WUB to find a strong parent company that can make significant amounts of funding available in order to ensure WUB's viability.
Glede na težavnost pridobivanja zadostnega financiranja za podjetja v sedanjih gospodarskih razmerah je za banko WUB ključnega pomena, da poišče stabilno matično družbo, ki ima na voljo znatne količine finančnih sredstev za zagotovitev sposobnosti preživetja banke WUB.
Given the funding gap of WUB, DNB finds it understandable that ING was not able to find a buyer for WUB that was willing and able to provide for the significant amounts of funding that WUB needs.
Zaradi vrzeli v financiranju banke WUB je po mnenju DNB razumljivo, da ING ni mogla najti kupca za banko WUB, ki bi zagotovil znatne količine finančnih sredstev, ki jih banka WUB potrebuje.
From DNB's perspective, the major advantage of the Van Gogh scenario compared to the WUB commitment is that the asset base of WUB that will be transferred under the Van Gogh scenario is smaller than under the WUB commitment.
Z vidika DNB je glavna prednost scenarija Van Gogh v primerjavi z zavezo družbe WUB ta, da je osnovno premoženje banke WUB, ki se bo preneslo po scenariju Van Gogh, manjše kot v zavezi banke WUB.
Less funding is required to cover those assets which makes the Van Gogh scenario a more viable proposition.
Za navedena sredstva je potrebno manj financiranja, zaradi česar je scenarij Van Gogh predlog, ki zagotavlja večjo sposobnost preživetja.
DNB concludes that it would not have accepted the acquisition by NN Bank of a larger asset-driven operation, but the company size implied in the Van Gogh scenario is a prudentially acceptable solution.
DNB sklepa, da ne bi sprejela prevzema večje dejavnosti na podlagi sredstev banke NN Bank, vendar je velikost družbe, navedena v scenariju Van Gogh, preudarno sprejemljiva rešitev.
Observations of Nationale Nederlanden [26]
Pripombe Nationale Nederlanden [26]
Nationale Nederlanden comments on the viability and the competitive power of NN Bank under the Van Gogh scenario.
Nationale Nederlanden komentira sposobnost preživetja in konkurenčno moč banke NN Bank v scenariju Van Gogh.
Nationale Nederlanden argues that it has no doubts about the viability of NN Bank and it argues that NN Bank and WUB combined will obtain more competitive power than each business stand-alone.
Nationale Nederlanden trdi, da je banka NN Bank nedvomno sposobna preživeti ter da bosta banki NN Bank in WUB skupaj konkurenčno močnejši kot če bi ostali ločeni samostojni podjetji.
In that regard, Nationale Nederlanden points at NN Bank's more balanced and diverse business model, the stronger balance sheet which should provide stable access to funding (a key success factor for competing), access to 2,5 million customers, a broader distribution model and increased brand awareness.
V zvezi s tem Nationale Nederlanden izpostavlja bolj uravnotežen in raznolik poslovni model banke NN Bank ter močnejšo bilanco, ki bi morala zagotoviti stabilen dostop do financiranja (ključni dejavnik uspeha za konkurenčnost), dostop do 2,5 milijona strank, širši model distribucije in povečano ozaveščenost o znamki.
Nationale Nederlanden considers a bank without a physical branch network to be more attractive than a bank with the operational cost of a legacy branch network.
Nationale Nederlanden meni, da je banka brez fizične mreže podružnic privlačnejša od banke z operativnimi stroški podedovane mreže podružnic.
With respect to current accounts, it believes that a current account offering would be more of a strategic burden to NN Bank than a competitive advantage.
V zvezi s sedanjimi računi meni, da bi ponudba tekočih računov za banko NN Bank pomenila bolj strateško breme kot pa konkurenčno prednost.
Nationale Nederlanden concludes that the Van Gogh scenario will increase capabilities and scale in the retail banking activities faster than could be achieved by NN Bank on a stand-alone basis.
Nationale Nederlanden sklepa, da bo scenarij Van Gogh povečal zmogljivosti in obseg dejavnosti bančnega poslovanja s prebivalstvom hitreje, kot bi to banka NN Bank lahko dosegla, če bi bila samostojna.
Observations from the Workers' Council of WUB
Pripombe sveta delavcev banke WUB
The Workers' Council of WUB comments on the Van Gogh scenario and indicates that it indeed needs to be ensured that the new bank will be viable in the long-term.
Svet delavcev banke WUB v pripombah glede scenarija Van Gogh navaja, da je dejansko treba zagotoviti, da bo nova banka dolgoročno sposobna preživeti.
The Workers' Council mentions a few examples of where the new bank will have to develop a dynamic policy for that purpose (product innovation to anticipate new government policy in terms of mortgages, new developments with respect to intermediaries, new distribution channels and information technology).
Omenja nekaj primerov, v katerih bo morala nova banka za ta namen razviti dinamično politiko za ta namen (inovacija produktov, da se predvidi nova vladna politika, v smislu hipotekarnih posojil, nov razvoj v zvezi s posredniki, novi distribucijski kanali in informacijska tehnologija).
The Workers' Council insists that a quick decision by the Commission would also be in the interest of the workers of WUB.
Svet delavcev trdi, da bi bila hitra odločitev Komisije prav tako v interesu delavcev banke WUB.
Observations from WUB
Pripombe banke WUB
The Executive Board of WUB comments on the viability and the competitive power of the new NN Bank after the integration of WUB.
Izvršni odbor banke WUB je predložil pripombe o sposobnosti preživetja in konkurenčni moči nove banke NN Bank po vključitvi banke WUB.
The Executive Board believes that the company is viable and competitive for a number of reasons.
Meni, da je družba za preživetje sposobna in konkurenčna iz številnih razlogov.
First, in the eyes of the Executive Board, a small bank like NN Bank needs a strong parent like Nationale Nederlanden, which improves for instance wholesale market access.
Po mnenju izvršnega odbora WUB majhna banka, kot je NN Bank, potrebuje stabilno matično družbo, kot je Nationale Nederlanden, ki na primer izboljša dostop do trga financiranja za podjetja.
Second, the Executive Board observes that the Dutch mortgage market is challenging and that the main distribution channel (independent intermediaries) is going through significant changes.
Izvršni odbor poleg tega meni, da je nizozemski trg hipotekarnih produktov težaven in da se glavni distribucijski kanal (neodvisni posredniki) močno spreminja.
The new NN Bank will be able to implement a multi-distribution strategy (with for example tied agents and direct distribution).
Nova banka NN Bank bo lahko izvajala multidistribucijsko strategijo (na primer s prodajnimi agenti in neposredno distribucijo).
Third, the Executive Board also sees added value in the fact that Nationale Nederlanden has a solid name and reputation in the market.
Po mnenju izvršnega odbora je dodana vrednost tudi dejstvo, da ima Nationale Nederlanden dobro ime in ugled na trgu.
Finally, the Executive Board also observes that the Van Gogh scenario will allow NN Bank to focus resources on one organisation and one brand.
Nazadnje izvršni odbor ugotavlja, da bo s scenarijem Van Gogh banka NN Bank sredstva lahko osredotočila na eno organizacijo in eno znamko.
It therefore improves the efficiencies in the organisation and improves competitive impact.
Scenarij torej izboljšuje učinkovitost v organizaciji in konkurenčni učinek.
As a concluding remark, the Executive Board also mentions that the Van Gogh scenario currently is the only feasible divestment option available.
V sklepni pripombi izvršni odbor navaja tudi, da je scenarij Van Gogh trenutno edina izvedljiva možnost odsvojitve, ki je na voljo.
In a separate letter, the independent supervisory directors of WUB express their support for the position taken by the Executive Board, saying explicitly that they endorse the latter's letter.
V ločenem dopisu neodvisni nadzorni direktorji banke WUB izražajo svojo podporo stališču izvršnega odbora, pri čemer izrecno navajajo, da podpirajo njegov dopis.
Observations from Vereniging Eigen Huis
Pripombe združenja Vereniging Eigen Huis
Vereniging Eigen Huis, a Dutch home-owners association representing 700000 Dutch mortgage holders submitted a documentary film entitled "Uw hypotheek als melkkoe" ["Your mortgage as a milch cow"], which discusses the Dutch mortgage market (matters such as increasing mortgage prices in the Netherlands, changing competitive landscape in the Netherlands and price leadership bans).
Vereniging Eigen Huis, nizozemsko združenje stanovanjskih lastnikov, ki zastopa 700000 nizozemskih imetnikov hipotekarnih posojil, je objavilo dokumentarni film z naslovom Uw hypotheek als melkkoe („Vaše hipotekarno posojilo je molzna krava“), ki obravnava nizozemski trg hipotekarnih produktov (na primer vedno višje cene hipotek na Nizozemskem, spreminjanje konkurenčnega okolja na Nizozemskem in prepovedi narekovanja cen).
That association points to the information as relevant for the third assessment (i.e. the pricing behaviour of ING Direct Italia).
Združenje izpostavlja informacije, ki so pomembne za tretjo oceno (tj. določanje cen banke ING Direct Italia).
Reaction of the Netherlandson third party observations
Odziv Nizozemske na pripombe tretjih strani
The Netherlandstakes note of the fact that observations were made by third parties about the viability issues surrounding WUB and the Van Gogh scenario.
Nizozemska je seznanjena, da so tretje strani podale pripombe glede vprašanj sposobnosti preživetja v zvezi z banko WUB in scenarijem Van Gogh.
All commentators support the Van Gogh scenario as an acceptable alternative for the original WUB commitment.
Vsi, ki so podali pripombe, podpirajo scenarij Van Gogh kot sprejemljivo drugo možnost za prvotne zaveze banke WUB.
In addition, the Netherlandstakes note of DNB's remark that the Van Gogh scenario is a prudentially acceptable solution.
Poleg tega je Nizozemska seznanjena s pripombo DNB, da je scenarij Van Gogh preudarno sprejemljiva rešitev.
After having read all the observations, the Netherlandsremains confident that the Van Gogh scenario will lead to a viable and competitive new player in the Dutch retail market.
Po vseh prebranih pripombah Nizozemska ostaja trdno prepričana, da bo scenarij Van Gogh ustvaril za preživetje sposobnega in konkurenčnega novega akterja na nizozemskem trgu poslovanja s prebivalstvom.
The Netherlandsalso takes note of reflections on the negative impact of the period of uncertainty on, for instance, employees and other stakeholders.
Nizozemska je tudi seznanjena z opažanji glede negativnega učinka obdobja negotovosti na primer na zaposlene in na druge delničarje.
The Netherlandsis hopeful that a decision on the amendments of the restructuring plan for ING will give the necessary reassurance to WUB and its employees.
Nizozemska upa, da bo odločitev o spremembah načrta prestrukturiranja za ING omogočila potrebno potrditev za banko WUB in njene zaposlene.
Finally, with respect to the comments of Vereniging Eigen Huis, the Netherlandspoints out that the documentary relates to the Dutch mortgage market and suggests that it contact the Dutch competition authority on that issue.
V zvezi s pripombami združenja Vereniging Eigen Huis Nizozemska poudarja, da se dokumentarec nanaša na nizozemski trg hipotekarnih produktov in združenju predlaga, da glede tega vprašanja vzpostavi stik z nizozemskim organom za konkurenco.
The Netherlands notes that the third issue to be assessed by the Commission deals with the complaints of Mediobanca about the adherence by ING Direct to the price leadership ban in Italy.
Nizozemska opozarja, da tretje vprašanje, ki ga bo ocenila Komisija, obravnava pritožbo banke Mediobanca glede spoštovanja prepovedi narekovanja cen ING Direct v Italiji.
V. POSITION OF THENETHERLANDS
V. POLOŽAJ NIZOZEMSKE
ECONOMIC DEVELOPMENTS AFFECTING ING IN THE IMPLEMENTATION OF THE RESTRUCTURING PLAN OF 22 OCTOBER 2009
GOSPODARSKI RAZVOJI, KI VPLIVAJO NA ING PRI IZVAJANJU NAČRTA PRESTRUKTURIRANJA Z DNE 22. OKTOBRA 2009
According to the Netherlands, the current crisis in Europe was not foreseen when ING submitted its restructuring plan of 22 October 2009, and the impact was clearly not reflected in the financial projections submitted at that time.
Po navedbah Nizozemske sedanja kriza v Evropi še ni bila predvidena, ko je ING predložila svoj načrt prestrukturiranja z dne 22. oktobra 2009, njen učinek pa se v finančnih napovedih, ki so bile takrat predložene, očitno ni izražal.
Despite that difficult environment, ING Bank continued to produce good financial results.
Kljub navedenim težkim razmeram je banka ING Bank še naprej dosegala dobre finančne rezultate.
In 2011 ING Bank participated in Union-wide stress tests (in July and October) conducted by the European Banking Authority ("EBA") [27].
Leta 2011 je ING Bank sodelovala v vseevropskem testiranju izjemnih situacij na ravni Unije (julija in oktobra), ki jih je izvajal Evropski bančni organ (v nadaljnjem besedilu: EBA) [27].
The EBA proposed a new Core Tier 1 target of 9,0 % as of June 2012 and ING was able to meet those new targets.
EBA je predlagal nov temeljni cilj prvega reda v višini 9,0 % od junija 2012 naprej in ING je lahko dosegla nove cilje.
On the insurance side, ING has also taken significant measures to improve performance, increase hedging, and prepare its insurance companies for a stand-alone future.
Tudi v zvezi z zavarovanji je ING sprejela pomembne ukrepe za izboljšanje uspešnosti, povečala varovanje pred tveganji in pripravila svoje zavarovalnice na samostojnost v prihodnosti.
In addition, ING's funding and liquidity position has remained healthy.
Poleg tega je položaj ING v zvezi s financiranjem in likvidnostjo še naprej stabilen.
For instance, ING did not make use of the Long-Term Refinancing Operations made available by the ECB in December 2011 or March 2012.
ING na primer ni uporabljala operacij dolgoročnega refinanciranja, ki jih je ECB omogočila decembra 2011 ali marca 2012.
As a result of the sovereign debt crisis, ING was for instance faced with significant losses on its Greek government bond portfolio that had to be written down by almost 80 % as a result of the Greek Private Sector Involvement.
Zaradi dolžniške krize se je ING na primer soočila z znatnimi izgubami na svojem portfelju grške državne obveznice, ki jo je bilo treba zaradi vključevanja grškega zasebnega sektorja zmanjšati za skoraj 80 %.
That write-down resulted in a cumulative loss of approximately EUR 1 billion for ING.
To zmanjšanje je za ING pomenilo skupno izgubo v višini približno 1 milijarde EUR.
NEW PROPOSAL BY THENETHERLANDS
NOV PREDLOG NIZOZEMSKE
The Netherlandspresented the Commission on 31 October 2012 with a new proposal consisting of a series of amendments to the restructuring plan of 22 October 2009, aimed at addressing the concerns raised in the Opening Decision and committing to new deadlines for the divestment of ING Insurance accompanied by a prolongation of the restructuring period.
Nizozemska je 31. oktobra 2012 Komisiji predstavila nov predlog za vrsto sprememb načrta prestrukturiranja z dne 22. oktobra 2009, v skladu s katerimi bi se obravnavali pomisleki iz sklepa o začetku postopka in vzpostavili novi zavezujoči roki za odsvojitev ING Insurance ter podaljšalo obdobje prestrukturiranja.
NN Bank commitment replacing the WUB commitment
Zaveza banke NN Bank, ki nadomesti zavezo banke WUB
The new proposal of the Netherlandsregarding the divestment of NN Bank builds on the proposal described in Recitals (39) to (78) of the Opening Decision.
Novi predlog Nizozemske v zvezi z odsvojitvijo banke NN Bank temelji na predlogu, ki je opisan v uvodnih izjavah od (39) do (78) sklepa o začetku postopka.
Under the new proposal the integrated NN Bank should keep around EUR 3 billion of mortgages [28] and associated funding on its books, while ING would keep EUR 34 billion of the mortgage portfolio which would be partially serviced by NN Bank.
V skladu z novim predlogom bi morala vključena banka NN Bank obdržati hipotekarna posojila v vrednosti okrog 3 milijarde EUR [28] in povezano financiranje v svojih knjigovodskih izkazih, ING pa bi obdržala portfelj hipotekarnih posojil v vrednosti 34 milijard EUR, ki bi jih delno plačala banka NN Bank.
Structure and product mix
Struktura in nabor izdelkov
The Netherlands renews its commitment for ING to create a new company for divestment in that MemberState(hereinafter "the Divestment Business"), which will be carved out from ING's current Dutch retail banking business.
Nizozemska obnavlja svojo zavezo, da bo ING ustanovila novo družbo za odsvojitev v tej državi članici (v nadaljnjem besedilu: odsvojena družba), ki bo delno izčlenjena iz sedanje nizozemske dejavnosti družbe ING za bančno poslovanje s prebivalstvom.
The result has to be that the new company is a viable and competitive business, which stands alone and is separate from the businesses retained by ING. That new company will comprise parts of the business of the already carved-out WUB and the current (limited) activities of the recently established banking division of Nationale Nederlanden (NN Bank).
Tako mora nastati za preživetje sposobna in konkurenčna nova družba, ki je neodvisna in ločena od dejavnosti, ki jih ING zadrži. Ta nova družba bo vključevala dejavnosti že delno izčlenjene banke WUB in trenutne (omejene) dejavnosti nedavno ustanovljenega oddelka za bančno poslovanje Nationale Nederlanden (NN Bank).
The Divestment Business will be placed under ING Insurance/Investment Management (IM) Europe which has a long-term strategic commitment to the Dutch retail market and will operate under the "Nationale Nederlanden" brand (as “NN Bank”), with its own funding capabilities and a broad distribution network.
Odsvojena družba bo del družbe ING Insurance/Investment Management (IM) Europe, ki ima dolgoročno strateško zavezo k nizozemskemu trgu poslovanja s prebivalstvom in bo delovala pod znamko „Nationale Nederlanden“ (kot „banka NN Bank“) z lastnimi zmožnostmi financiranja in široko distribucijsko mrežo.
NN Bank will offer a broad and coherent product line, with mortgages, savings, bank annuities, investments and consumer credit products, combined with core retail insurance products of Nationale Nederlanden (which includes but life insurance products and property and casualty insurance products).
Banka NN Bank bo nudila široko in usklajeno linijo produktov s hipotekarnimi posojili, prihranki, bančnimi rentami, naložbami in produkti potrošniških kreditov v kombinaciji s produkti osnovnega maloprodajnega zavarovanja banke Nationale Nederlanden (kar vključuje produkte življenjskega zavarovanja in nezgodnega zavarovanja).
NN Bank will reach customers through an integrated multi-channel distribution model, employing independent financial advisors and tied agents with nationwide coverage for advice on complex financial situations and products, and increasingly internet and call centers for sales and service.
Banka NN Bank bo stranke dosegla prek vključenega modela distribucije z več kanali, pri čemer bo zaposlila neodvisne finančne svetovalce in prodajne agente, ki bodo na nacionalni ravni zagotavljali svetovanje o zapletenih finančnih položajih in produktih, ter povečala število spletnih in klicnih centrov za prodajo in storitve.