natgillin/translations-raw huggingface dataset:
Point 10 of the MEFP states that: ‘swift and decisive action will be taken to resolve the position of Anglo Irish Bank (Anglo) and Irish Nationwide Building Society (INBS) in a way that protects depositors and strengthens the banking system. To this end, by end-January 2011, we will submit to the European Commission a revised proposal developed in collaboration with IMF to resolve Anglo and INBS’ [13].
Točka 10 MEFP navaja, da: „bodo sprejeti hitri in odločilni ukrepi za reševanje položaja Anglo Irish Bank (banka Anglo) in Irish Nationwide Building Society (banka INBS) na način, ki ščiti vlagatelje in krepi bančni sistem. V ta namen bomo do konca januarja 2011 Evropski komisiji predložili revidiran predlog reševanja banke Anglo in banke INBS, ki ga bomo razvili v sodelovanju z MDS“ [13].
On 12 January 2011, Ireland provided information to the Commission regarding the planned sale of deposits by Anglo and INBS.
Irska je 12. januarja 2011 Komisiji predložila informacije v zvezi z načrtovano prodajo vlog bank Anglo in INBS.
Further information regarding the sales process was submitted on 2 February 2011 and 21 February 2011.
Nadaljnje informacije v zvezi s postopkom prodaje so bile predložene 2. februarja 2011 in 21. februarja 2011.
On 16 January 2011, Ireland submitted information to the Commission regarding the contemplated resolution of the businesses of Anglo and INBS.
Irska je 16. januarja 2011 Komisiji predložila informacije v zvezi z nameravanim reševanjem poslov bank Anglo in INBS.
On 31 January 2011, Ireland notified the Commission of a joint restructuring and work-out plan for Anglo and INBS (hereinafter referred to as ‘the joint restructuring plan’).
31. januarja 2011 je Komisiji priglasila skupni načrt prestrukturiranja in reševanja za banki Anglo in INBS (v nadaljevanju: „skupni načrt prestrukturiranja“).
On 5 April 2011, Ireland updated the joint restructuring plan by including the impact of the deposits and NAMA bond transfers which had taken place in the meantime and by replacing the forecast results and balance sheets of Anglo and INBS for 2010 by the actual ones, which had become known in the meantime.
Irska je 5. aprila 2011 dopolnila skupni načrt prestrukturiranja, tako da je vključila učinek prenosa vlog in obveznic banke NAMA, ki je bil medtem opravljen, ter napovedane rezultate in bilance stanja banki Anglo in INBS za leto 2010 nadomestila z dejanskimi, ki so medtem postali znani.
A further update was received on 21 April 2010.
Nadaljnjo dopolnitev je Komisija prejela 21. aprila 2010.
The beneficiaries and their difficulties
Upravičenca in njune težave
Measured by balance sheet size, Anglo is one of the largest banks operating in Ireland.
Glede na obseg bilančne vsote je banka Anglo ena največjih bank, ki poslujejo na Irskem.
Since the beginning of the financial crisis, Anglo registered heavy losses mainly driven by impairment charges on its commercial loan book.
Od nastopa finančne krize je banka Anglo zabeležila hude izgube zlasti zaradi stroškov oslabitve v portfelju poslovnih posojil.
Anglo was nationalised by Ireland on […] 2009.
Banka Anglo je Irska nacionalizirala […] 2009.
A detailed description of Anglo and its difficulties was provided in Sections 2.2 and 2.3 of the opening decision of 31 March 2010.
Podroben opis banke Anglo in njenih težav je na voljo v oddelkih 2.2 in 2.3 odločitve o začetku postopka z dne 31. marca 2010.
Anglo’s business model proved to be unsustainable and led to unprecedented financial difficulties and losses in the context of the global financial crisis.
Izkazalo se je, da je poslovni model banke Anglo nevzdržen, kar je vodilo k doslej največjim finančnim težavam in izgubam v luči svetovne finančne krize.
Anglo’s business model was overly concentrated on commercial property lending and led to excessive exposures to that sector of the economy which was particularly hard-hit during the financial crisis: commercial property prices decreased peak-to-trough by more than 62 % in Ireland, 37 % in the United Kingdom and 45 % in the United States [16].
Poslovni model banke Anglo je bil preveč osredotočen na posojila za poslovne nepremičnine, kar je povzročilo prekomerno izpostavljenost temu sektorju gospodarstva, ki ga je finančna kriza še posebej močno prizadela: cene poslovnih nepremičnin so strmo padle za več kot 62 % na Irskem, 37 % v Združenem kraljestvu in za 45 % v ZDA [16].
In addition, Anglo’s lending was partly financed by wholesale funding, a source of funding which dried up as a result of the financial crisis.
Poleg tega je banka Anglo sredstva za posojila delno črpala iz financiranja podjetij, torej vira financiranja, ki je kot posledica finančne krize usahnil.
Risk management in Anglo was not sufficiently developed and allowed uncontrolled balance sheet growth combined with risky lending practices (such as high loan-to-value lending and interest-only lending), in particular during the years of the Irish property boom.
Obvladovanje tveganja v banki Anglo ni bilo dovolj razvito in je omogočalo nenadzorovano bilančno rast, povezano s tveganimi posojilnimi praksami (na primer, visoko razmerje med posojilom in vrednostjo nepremičnine ali izključno obrestna posojila), zlasti v letih irskega nepremičninskega razcveta.
Anglo benefited from four recapitalisations, an asset relief measure which allowed it to transfer around EUR 35 billion of impaired loans to the NAMA and State guarantees on most of its liabilities (see recital 66).
Banka Anglo je bila dokapitalizirana štirikrat, poleg tega je v okviru ukrepa finančne pomoči za oslabljena sredstva prenesla okoli 35 milijard EUR oslabljenih posojil na agencijo NAMA in pridobila državna jamstva za večino svojih obveznosti (glej uvodno izjavo 66).
A detailed description of INBS was provided in Section 2.1 of the Commission Decision of 30 March 2010 concerning the first recapitalisation of INBS.
Podroben opis banke INBS je na voljo v oddelku 2.1 odločitve Komisije z dne 30. marca 2010 o prvi dokapitalizaciji banke INBS.
A short summary is therefore provided in this Section.
V tem oddelku je torej podan le kratek povzetek.
It offered traditional retail banking products to its members (namely, savings and mortgages).
Svojim strankam je ponujala tradicionalne bančne produkte za prebivalstvo (npr. varčevanje in hipoteke).
In the years preceding the financial crisis, INBS aggressively increased its activities in risky commercial property lending, which became its main activity.
V letih pred finančno krizo je banka INBS agresivno povečevala svoje dejavnosti na področju tveganih posojil za poslovne nepremičnine, kar je postala njena glavna dejavnost.
INBS was predominantly active in Ireland, where it had a branch network of 50 branch offices and 40 branch agents, and in the United Kingdom where it had no branch offices.
Banka INBS je večinoma poslovala na Irskem, kjer je vzpostavila mrežo 50 podružnic in 40 zastopnikov, ter v Združenem kraljestvu, kjer ni imela nobenih podružnic.
INBS’s loan book as at 31 December 2010 had a value of EUR 1,9 billion following the transfer of EUR 8,5 billion of loans to NAMA [17].
Portfelj posojil banke INBS je na dan 31. decembra 2010 izkazoval vrednost 1,9 milijarde EUR po prenosu posojil v višini 8,5 milijarde EUR na agencijo NAMA [17].
Retail deposits amounted to EUR 3,9 billion as at 31 December 2010. INBS recorded a loss of EUR 3,3 billion in 2009.
Vloge prebivalstva so na dan 31. decembra 2010 znašale 3,9 milijarde EUR. Banka INBS je v letu 2009 zabeležila izgubo v višini 3,3 milijarde EUR.
INBS’s difficulties were caused by its overexposure to poorly underwritten Irish commercial property loans (approximately 80 % of INBS’s total loan book).
Banka INBS je zašla v težave zaradi svoje prekomerne izpostavljenosti slabo zavarovanim irskim posojilom za poslovne nepremičnine (približno 80 % skupnega portfelja posojil banke INBS).
Consequently, when the financial crisis hit and property prices, especially commercial property prices, fell dramatically in both Ireland and the United Kingdom, INBS was highly exposed to losses in its loan book.
Ko je torej udarila finančna kriza in so cene nepremičnin, zlasti cene poslovnih nepremičnin, na Irskem in v Združenem kraljestvu dramatično padle, je bila banka INBS močno izpostavljena izgubam v svojem portfelju posojil.
Those losses have forced it to take significant impairments in 2009 and 2010.
Zaradi teh izgub je morala v letih 2009 in 2010 izvesti znatne oslabitve.
INBS benefited from two recapitalisations, an asset relief measure which enabled it to transfer around EUR 8,9 billion of impaired commercial property loans to NAMA and State guarantees on most of its liabilities (see recital 67).
Banka INBS je bila dvakrat dokapitalizirana, poleg tega je v okviru ukrepa finančne pomoči za oslabljena sredstva prenesla okoli 8,9 milijarde EUR oslabljenih posojil za poslovne nepremičnine na agencijo NAMA in pridobila državna jamstva za večino svojih obveznosti (glej uvodno izjavo 67).
Prior to the first recapitalisation by Ireland, INBS was owned by its members.
Pred prvo dokapitalizacijo s strani Irske je bila banka INBS v lasti svojih družbenikov.
As a result of the first recapitalisation of INBS, the State has taken full control of the bank.
Kot posledica prve dokapitalizacije banke INBS zdaj država v celoti obvladuje banko.
The members have thus lost control of INBS and have lost all economic ownership rights.
Družbeniki so tako izgubili nadzor nad banko INBS in tudi vse pravice do gospodarske lastnine.
The individual restructuring plans
Posamezni načrti prestrukturiranja
The initial Anglo restructuring plan
Prvotni načrt prestrukturiranja banke Anglo
In particular, the Commission questioned whether the plan would lead to a restoration of the long-term viability of Anglo, would limit the restructuring costs to a minimum and would limit distortions of competition.
Komisija je zlasti dvomila, ali bo načrt vodil k ponovni vzpostavitvi dolgoročno uspešnega poslovanja banke Anglo, omejil stroške prestrukturiranja na najnižje potrebne in omejil izkrivljanje konkurence.
Therefore, the Commission initiated the procedure laid down in Article 108(2) of the Treaty with regard to that plan.
Zato je Komisija začela postopek v skladu s členom 108(2) Pogodbe v zvezi z navedenim načrtom.
At the same time, the Commission requested the submission of a revised restructuring plan by 31 May 2010.
Hkrati je Komisija zahtevala, da se revidiran načrt prestrukturiranja predloži do 31. maja 2010.
The second Anglo restructuring plan
Drugi načrt prestrukturiranja banke Anglo
On 31 May 2010, Ireland submitted a revised restructuring plan which set out a significantly revised approach to restructuring Anglo.
Irska je 31. maja 2010 predložila revidiran načrt prestrukturiranja, ki je vseboval znatno spremenjen pristop k prestrukturiranju banke Anglo.
As requested in the opening decision, the second Anglo restructuring plan presented a number of possible restructuring scenarios: (i) liquidate 100 % of Anglo over 12 months; (ii) wind-down 100 % of Anglo over 10 years; (iii) wind-down 100 % of Anglo over 20 years; (iv) stabilise the whole of Anglo and keep it as a going concern; and (v) a split which included the wind-down of 80 % of Anglo through the creation of an asset management company while the remainder would continue to do business (a good bank).
Kot je bilo zahtevano v odločitvi o začetku postopka, so bili v drugem načrtu prestrukturiranja banke Anglo predstavljeni številni možni scenariji prestrukturiranja: (i) 100-odstotna likvidacija banke Anglo v 12 mesecih; (ii) 100-odstotna likvidacija banke Anglo v desetih letih; (iii) 100-odstotna likvidacija banke Anglo v dvajsetih letih; (iv) stabilizacija celotne banke Anglo in njena ohranitev kot delujoče podjetje in (v) delitev, ki vključuje 80-odstotno likvidacijo banke Anglo z ustanovitvijo družbe za upravljanje premoženja, medtem ko bi preostanek še naprej posloval (dobra banka).
The split scenario, referred to in (v) of recital 39, was presented as the preferred option of the Irish authorities.
Scenarij o delitvi iz točke (v) uvodne izjave 39, so irski organi predstavili kot prednostno možnost.
In that scenario, the asset management company would hold ‘lower quality assets’ that would not be transferred to NAMA or the good bank (book of EUR 13,6 billion at split), and would be managed to maximise asset recovery values while minimising State funding.
V tem scenariju bi družba za upravljanje premoženja razpolagala s „sredstvi nižje kakovosti“, ki ne bi bila prenesena na agencijo NAMA ali dobro banko (portfelj v višini 13,6 milijarde EUR ob delitvi), s katerimi bi upravljala z namenom čim bolj povečati vrednosti vračila s čim manjšim financiranjem s strani države.
The asset management company would not conduct any new business and would be liquidated in 2020.
Družba za upravljanje premoženja ne bi sklepala nobenih novih poslov in bi bila v letu 2020 likvidirana.
The good bank would become a significantly smaller State-owned commercial bank which could deliver long-term viability with a sharply reduced balance sheet having a lower risk profile.
Dobra banka bi postala bistveno manjša komercialna banka v državni lasti, ki bi lahko vzpostavila dolgoročno uspešno poslovanje z znatno manjšo bilanco stanja in nižjim profilom tveganja.
It was envisaged to privatise the good bank within a five-year timeframe, providing a partial return to the State of its investment in Anglo.
Predvideno je bilo, da se dobra banka privatizira v obdobju petih let, kar bi zagotovilo delno vračilo državne naložbe v banko Anglo.
The third Anglo restructuring plan
Tretji načrt prestrukturiranja banke Anglo
On 26 October 2010, elaborating on its submission of 31 August 2010, Ireland submitted a substantially revised proposal on the restructuring of Anglo.
Irska je 26. oktobra 2010 na podlagi izpopolnjenega predloga z dne 31. avgusta 2010 predložila bistveno spremenjen predlog o prestrukturiranju banke Anglo.
The third Anglo restructuring plan sets out the broad lines of a split of Anglo into two legally independent State-owned entities, namely a Funding Bank and a Recovery Bank, which would result in the wind-down of Anglo over a period of approximately 10 years.
Tretji načrt prestrukturiranja banke Anglo predstavlja širok okvir delitve banke Anglo na dva pravno neodvisna subjekta v državni lasti, tj. Funding Bank in Recovery Bank, kar bi privedlo do likvidacije banke Anglo v približno desetih letih.
Further State aid would be needed in the form of capital injections, persistent Central Bank funding and a comprehensive structure of State guarantees over the lifetime of the two Banks.
Potrebna bi bila nadaljnja državna pomoč v obliki kapitalskih vložkov, stalnega financiranja s strani Centralne banke in celovita struktura državnih jamstev med celotno življenjsko dobo obeh bank.
The plan forecast a capital requirement of EUR 29,3 billion in the base case and EUR 34 billion in stress case.
Načrt predvideva zahtevo po kapitalu v višini 29,3 milijarde EUR v osnovnem scenariju in 34 milijard EUR v izjemnem scenariju.
Ireland indicated that the new approach to the restructuring of Anglo, which foresees that it would cease to operate as a lender, was triggered by deteriorating market circumstances.
Irska je navedla, da je novi pristop k prestrukturiranju banke Anglo, ki predvideva ustavitev njene dejavnosti posojilodajalca, sprožilo poslabšanje tržnih razmer.
It argued that funding conditions for Anglo and sentiment towards the State (Sovereign) had worsened since the submission of the second Anglo restructuring plan, while the discounts on loans transferred to NAMA and the losses on the non-NAMA loan book were higher than expected.
Navedla je, da so se pogoji financiranja za banko Anglo in odnos do države od predložitve drugega načrta njenega prestrukturiranja poslabšali, medtem ko so bili diskonti za posojila, preneseni na agencijo NAMA, in izgube iz portfelja posojil, ki ga ne upravlja NAMA, višji od pričakovanih.
The INBS restructuring plan
Načrt prestrukturiranja banke INBS
In the preparation for the sale, INBS was supposed to become a small savings and loan institution.
Med pripravo na prodajo naj bi banka INBS postala majhna hranilnica in posojilnica.
It would transfer a significant portion of its existing commercial loan portfolio to NAMA and cease commercial lending, and provide only residential mortgage lending and savings accounts to its customers.
Večji del svojega obstoječega portfelja poslovnih posojil naj bi prenesla na agencijo NAMA in ukinila poslovna posojila ter svojim strankam ponujala samo stanovanjska hipotekarna posojila in hranilne račune.
The INBS restructuring plan did not envisage any particular measures aimed at limiting the distortion of competition created by the aid.
V načrtu prestrukturiranja banke INBS niso bili predvideni nobeni posebni ukrepi, katerih cilj bi bil omejiti izkrivljanje konkurence kot posledice pomoči.
The joint restructuring plan for Anglo and INBS
Skupni načrt prestrukturiranja za banki Anglo in INBS
Description of the joint restructuring plan
Opis skupnega načrta prestrukturiranja
On 31 January 2011, Ireland submitted to the Commission the joint restructuring and work-out plan for Anglo and INBS.
Irska je 31. januarja 2011 Komisiji predložila skupni načrt prestrukturiranja in reševanja za banki Anglo in INBS.
The joint restructuring plan foresees the merger of Anglo and INBS, after the sales of their respective deposit books, into one single entity (hereinafter referred to as ‘the merged entity’) which will be licensed, fully regulated and 100 % State-owned.
Skupni načrt prestrukturiranja predvideva združitev banki Anglo in INBS, po izvedeni prodaji njunih depozitnih knjig, v en subjekt (v nadaljevanju: „združeni subjekt“) ki bo licenciran, povsem reguliran in v 100-odstotni državni lasti.
The joint opening balance sheet after the merger will amount to EUR [60-70] billion.
Skupna otvoritvena bilanca stanja po združitvi bo znašala [60–70] milijard EUR.
The merged entity will: (i) work out the legacy commercial property loan book of Anglo over a period of 10 years through redemptions and sales; (ii) work out the retail mortgage book of INBS over a period of […] years […]; and (iii) rely […].
Združeni subjekt bo: (i) v desetih letih izdelal zapuščinsko knjigo posojil banke Anglo za poslovne nepremičnine na podlagi odkupov in prodaje, (ii) izdelal knjigo hipotekarnih posojil banke INBS za prebivalstvo v obdobju […] let […] in (iii) uporabljal […].
The merged bank will only hold a small amount of deposits and will not engage in any new lending or other activities.
Združena banka bo hranila le majhen znesek vlog in ne bo opravljala nobenih novih posojilnih ali drugih dejavnosti.
The merged entity will hold the various promissory notes which have been used to recapitalise both Anglo and INBS.
Združeni subjekt bo imel različne zadolžnice, uporabljene za dokapitalizacijo obeh bank, Anglo in INBS.
All the promissory notes will be settled in accordance with their payment schedule [19].
Vse zadolžnice bodo poravnane v skladu z razporedom plačil [19].
The merged entity also have a small amount of subordinated debt, which will correspond to the amount which it does not manage to buy back in the framework of successive liability management exercises.
Združeni subjekt bo prav tako vodil majhen znesek podrejenega dolga, ki ustreza znesku, ki ga ne more več odkupiti v okviru zaporednih izvajanj upravljanja obveznosti.
The objective of the proposed joint restructuring plan is to avoid the risk of further losses from new lending, manage the work-out of the loan books efficiently and keep State aid requirements to a minimum.
Cilj predlaganega skupnega načrta prestrukturiranja je preprečiti tveganje nadaljnjih izgub zaradi izdajanja novih posojil, učinkovito vodenje izdelave portfeljev posojil in ohranitev zahtev po državni pomoči na najnižji možni ravni.
Working out the two loan books in one merged entity enables synergies with regard to capabilities, infrastructure and processes.
Izdelava obeh portfeljev posojil v enem združenem subjektu omogoča sinergije z vidika zmogljivosti, infrastrukture in postopkov.
In conformity with the Programme for Support, Ireland committed to transfer, before the merger, the deposits (which are recorded on the liability side of the balance sheet) and NAMA bonds (which are recorded on the asset side of the balance sheet) of Anglo and INBS to viable institutions in an open process.
V skladu s Programom za podporo se je Irska zavezala, da bo pred združitvijo prenesla vloge (zabeležene na strani pasive v bilanci stanja) in obveznice agencije NAMA (zabeležene na strani aktive v bilanci stanja) bank Anglo in INBS na poslovno uspešne institucije v okviru odprtega postopka.
Bids were invited on the package of NAMA bonds and deposits.
Za paket obveznic NAMA in vlog je bilo izdano povabilo za oddajo ponudb.
The sale of circa EUR 12,2 billion of deposits and of circa EUR 15,9 billion of NAMA bonds of both entities was completed [20] on 24 February 2011.
Prodaja vlog v vrednosti približno 12,2 milijarde EUR in obveznic agencije NAMA v vrednosti približno 15,9 milijarde EUR obeh subjektov je bila dokončana [20]24. februarja 2011.
In contrast to previous versions of the Anglo restructuring plans, the merged entity will, in principle, not hold deposits to fund its assets but will instead exit the deposit market.
Za razliko od prejšnjih različic načrtov prestrukturiranja banke Anglo združeni subjekt načeloma ne bo hranil vlog za financiranje svojih sredstev, temveč bo izstopil z depozitnega trga.
However, in compliance with the commitments (see Section 2.2.5.1), the merged entity will be allowed to keep a small amount of corporate deposits which are held as guarantee for loans granted to several corporate institutions (legacy secured or deposits related to borrower accounts).
Kljub temu bo združeni subjekt v skladu z zavezami (glej oddelek 2.2.5.1) lahko ohranil majhen znesek vlog gospodarstva, ki se hranijo kot jamstvo za posojila, odobrena več gospodarskim institucijam (z zavarovano zapuščino ali vloge, povezane z računi posojilojemalcev).
The joint restructuring plan assumes that there will be a maximum amount of EUR 1 billion of deposits at the time of the merger.
V skupnem načrtu prestrukturiranja je ocenjeno, da bo znesek vlog v času združitve znašal največ 1 milijardo EUR.
The joint restructuring plan is based on the following assumptions:
Skupni načrt prestrukturiranja temelji na naslednjih predpostavkah:
Existing wholesale funding of EUR […] billion to mature as per existing schedules (majority within four years), […].
obstoječe financiranje podjetij v višini […] milijard EUR, ki zapade v skladu z obstoječimi časovnimi razporedi (večinoma v štirih letih), […].
The merged entity requires a comprehensive set of State guarantees (see also recital 69), covering the following exposures:
Združeni subjekt zahteva celovit sklop državnih jamstev (glej tudi uvodno izjavo 69) za pokritje naslednjih izpostavljenosti:
Once the ELG scheme expires, the guarantee would have to be provided on an ad hoc basis;
Ko se bo shema ELG iztekla, bo treba jamstvo zagotoviti na začasni osnovi;
A State guarantee to the CBI on the unsecured part of the ELA to Anglo/INBS, which would allow the merged entity to access CBI/ELA funding as needed […];
državno jamstvo za Irsko centralno banko (CBI) za nezavarovani del nujne likvidnostne pomoči ELA za banko Anglo/INBS, kar bi združenemu subjektu omogočilo dostop do financiranja CBI/ELA glede na potrebe […];
A State guarantee on certain liabilities for its off-balance sheet transactions, services and transactional capabilities [….] [21].
državno jamstvo za nekatere obveznosti za svoje zunajbilančne transakcije, storitve in transakcijske zmogljivosti [….] [21].