natgillin/translations-raw huggingface dataset:
Under the variable price mechanism if, within a period of five years from the date of purchase of the shares of DBB/Belfius, those shares were resold to a third party (apart from the Belgian Federal State, Belgian regions or any public company or company controlled by the latter), Dexia would receive a proportion of any capital gains made by Belgium above an amount of 10,5 %.
Če bi se v petih letih od datuma nakupa delnic banke DBB/Belfius te delnice nadalje prodale tretji strani (ki niso Belgija, belgijske regije ali katera koli javna družba ali družba pod njenim nadzorom), bi skupina Dexia v skladu z mehanizmom variabilne cene prejela delež vsakega kapitalskega dobička, ki ga je ustvarila Belgija nad zneskom 10,5 %.
The proportion of the capital gains payable to Dexia SA would be 100 % if the sale took place in the first 18 months from the date of purchase.
Družbi Dexia SA bi bilo treba izplačati 100-odstotni delež kapitalskega dobička, če bi se prodaja opravila v prvih 18 mesecih od datuma nakupa.
This information was supplemented by a series of letters and meetings between 17 April 2012 and 23 November 2012, then by a final plan notified on 26 November 2012.
Te informacije so dopolnili s sklopom dopisov in srečanj med 17. aprilom 2012 in 23. novembrom 2012, ter nato s končnim načrtom, ki so ga priglasili 26. novembra 2012.
This information in particular included:
V te informacije so bili vključeni zlasti:
According to the Belgian authorities, the restructuring plan should reduce the total size of DBB/Belfius’ balance sheet at 31 December 2016 by 20 % in comparison with 31 December 2011.
Po navedbah belgijskih organov naj bi se z načrtom prestrukturiranja skupni obseg bilance stanja banke z dne 31. decembra 2016 zmanjšal za 20 % v primerjavi z 31. decembrom 2011.
The balance sheet total of DBB/Belfius should be EUR 185 billion at the end of 2016 in comparison with EUR 233 billion at the end of 2011.
Bilančna vsota banke DBB/Belfius naj bi ob koncu leta 2016 znašala 185 milijard EUR, ob koncu leta 2011 pa je znašala 233 milijard EUR.
The guaranteed bank securities issued by DCL which it holds will mature by 2015.
Zavarovani bančni vrednostni papirji, ki jih banka DCL izda in jih obdrži, bodo zapadli do leta 2015.
Sovereign and para-sovereign exposures will be reduced.
Zmanjšali se bosta državna in paradržavna izpostavljenost.
As annual market growth is estimated at 3-4 %, DBB/Belfius’ market share should thus fall from [10-15] % at the end of 2011 to [10-15] % at the end of 2016.
Letna tržna rast naj bi bila 3–4-odstotna, zato naj bi se tržni delež banke DBB/Belfius z [10–15] % ob koncu leta 2011 zmanjšal na [10–15] % ob koncu leta 2016.
The loan to deposit ratio should thus automatically improve and be less than […] from 2013 as against […] in 2012 and […] in 2011.
Razmerje med posojili in vlogami bi se tako samodejno izboljšalo ter od leta 2013 dalje ne bi smelo presegati […] glede na […] v letu 2012 in […] v letu 2011.
The price offered to customers was therefore on average Euribor + [100-200] basis points in the first quarter of 2012 in comparison with Euribor + [50-150] basis points in the first quarter of 2011.
Strankam je bila v prvi četrtini leta 2012 v povprečju ponujena cena po obrestni meri Euribor + [100–200] bazičnih točk, v prvi četrtini leta 2011 pa po obrestni meri Euribor + [50–150] bazičnih točk.
This new pricing is making it possible to release a gross margin of [0-50] basis points.
S to novo ceno se lahko sprosti bruto marža v višini [0–50] bazičnih točk.
Current deposits should increase by some [0-5] % per annum to reach EUR [15-25] billion at the end of 2016 in comparison with EUR [15-25] billion at the end of 2012.
Sedanje vloge bi se morale povečati za okrog [0–5] % na leto, da bi ob koncu leta 2016 znašale [15-25] milijard EUR v primerjavi s [15–25] milijardami EUR ob koncu leta 2012.
The margin released on deposits should decline to [20-60] basis points at the end of 2016 as against [30-70] basis points in 2012 and [50-100] basis points in 2011.
Ob koncu leta 2016 bi se moralo kritje, sproščeno na vloge, zmanjšati na [20–60] bazičnih točk v primerjavi s [30–70] bazičnimi točkami v letu 2012 in [50–100] bazičnimi točkami v letu 2011.
Retail banking customers’ deposits (current accounts, savings accounts and term deposits) totalled EUR 60 billion at the end of 2011. DBB/Belfius is forecasting an increase of some EUR [0-5] billion per annum to reach a total of EUR [50-100] billion at the end of 2016.
Ob koncu leta 2011 so vloge pri poslovanju s prebivalstvom (tekoči računi, varčevalni računi in vezane vloge) znašale skupno 60 milijard EUR. Po napovedih banke DBB/Belfius naj bi se ta znesek povečal za približno [0–5] milijard EUR na leto in naj bi ob koncu leta 2016 znašal [50–100] milijard EUR.
The market share of DBB/Belfius should remain stable between 2011 and 2016.
Tržni delež banke DBB/Belfius bi moral med leti 2011 in 2016 ostati nespremenljiv.
Apart from the 2012/13 year during which DBB/Belfius is envisaging margins […] (like the other products offered to its RCB customers), the margin on term deposits should level off at around [25-80] basis points in 2015/16, a level slightly higher than the level from 2008 to 2011.
Marža na vezane vloge bi se morala v obdobju 2015–2016 stabilizirati pri okrog [25–80] bazičnih točkah, kar je rahlo višje od stopnje v letih od 2008 do 2011, razen v obdobju 2012–2013, v katerem naj bi bile marže po predvidevanjih banke DBB/Belfius […] (kot drugi produkti, ponujeni strankam na področju poslovanja s prebivalstvom in komercialnega bančništva).
DBB/Belfius is planning an annual real estate loan production of EUR [0-5] billion with an initial margin […] of [0-25] basis points in 2012 and then [5-30] basis points in 2013, a level comparable to the level in 2010/11.
Banka DBB/Belfius načrtuje, da naj bi letno ustvarila [0-5] milijarde EUR nepremičninskih posojil, pri čemer bi v letu 2012 začetna marža […] znašala [0–25] bazičnih točk, v letu 2013 pa [5–30] bazičnih točk, taka stopnja pa je primerljiva s stopnjo v obdobju 2010–2011.
From 2014, the margin should be [10-35] basis points.
Od leta 2014 dalje naj bi marža znašala [10–35] bazičnih točk.
Margins on other products (consumer loans, business loans, etc.) are set to be much lower than in 2010/11.
Marže na druge produkte (potrošniška posojila, poslovna posojila itd.) pa so določene mnogo nižje kot v obdobju 2010–2011.
Margins on consumer loans should for instance be [150-300] basis points, whereas they were between [300-450] basis points and [450-600] basis points in 2010/11.
Marže na potrošniška posojila bi morale na primer znašati [150–300] bazičnih točk, medtem ko so v obdobju 2010–2011 znašale od [300–450] bazičnih točk do [450–600] bazičnih točk.
DBB/Belfius is planning to close 41 branches, with a target of 777 branches at the end of 2013 in comparison with 818 in 2011.
Banka DBB/Belfius načrtuje, da bo zaprla 41 podružnic, tako da bi imela ob koncu leta 2013 777 podružnic, v letu 2011 pa jih je imela 818.
Altogether 500 branches will be converted into ‘open branches’ by the end of 2013 in order to reduce costs while refocusing on commercial relationship management and high added value services.
Zaradi zmanjšanja stroškov bo skupaj 500 podružnic do konca leta 2013 preoblikovanih v „odprte podružnice“, hkrati pa se bo treba preusmeriti na upravljanje poslovnega odnosa in visoko dodano vrednost storitev.
On 31 December 2011, DBB/Belfius had three investment portfolios (PMG, ALM, DIS) [65] of a total nominal value of EUR 43 billion and a derivative portfolio of a value of EUR 12,8 billion. Investment grade bonds made up 95 % of the investment portfolio.
Banka DBB/Belfius je imela 31. decembra 2011 tri naložbene portfelje (PMG, ALM, DIS) [65] v skupni nominalni vrednosti 43 milijard EUR in portfelj izvedenih finančnih instrumentov v vrednosti 12,8 milijarde EUR. Obveznice v naložbenih razredih so sestavljale do 95 % portfelja naložb.
[25-50] % of the portfolio assets would reach maturity by 2016.
Do leta 2016 bi zapadlo [25–50] % portfelja sredstev.
On that date, [75-100] % of the bonds held would have an ‘investment grade’ or better rating.
Tega leta bi imelo [75–-100] % obveznic bonitetno oceno „naložbenega razreda“ ali boljšo bonitetno oceno.
On 31 March 2012, DBB/Belfius had a liquidity buffer of EUR [5-15] billion. The implementation of several measures (increase in deposits, issue of covered bonds, increased use of securitised and non-securitised financing) should help to enhance this liquidity buffer by EUR [30-45] billion by 2016.
Likvidnostni blažilec banke DBB/Belfius je 31. marca 2012 znašal [5–15] milijard EUR. K povečanju tega likvidnostnega blažilca za [30-45] milijard EUR do leta 2016 bi moralo prispevati izvajanje več ukrepov (povečanje vlog, izdajanje kritih obveznic, večja raba listinjenega in nelistinjenega financiranja).
Between 26 October 2011 and 25 January 2012, DBB/Belfius reduced its net credit exposure to Dexia SA by EUR [25-50] billion to EUR [10-30] billion. This exposure had been reduced to EUR [5-10] billion at 2 March 2012 [66].
Banka DBB/Belfius je svojo neto kreditno izpostavljenost do družbe Dexia SA med 26. oktobrom 2011 in 25. januarjem 2012 zmanjšala s [25–50] milijard EUR na [10–30] milijard EUR. Ta izpostavljenost se je 2. marca 2012 zmanjšala na [5–10] milijard EUR [66].
On 2 March 2012, non-securitised cash exposure to the Dexia Group was EUR [600-700] million. This exposure was subsequently reduced to almost zero on 7 March 2012.
Izpostavljenost nelistinjenih denarnih sredstev do skupine Dexia je 2. marca 2012 znašala [600–-700] milijonov EUR. Ta izpostavljenost je bila nato 7. marca 2012 zmanjšana skoraj na nič.
The maximum amounts granted by the BNB to DBB/Belfius were close to EUR […] billion in late November/early December 2012. They fell from early 2012 and ended on 1 February 2012 [68].
Najvišji znesek izredne likvidnostne pomoči, ki jo je banka BNB dodelila banki DBB/Belfius, je konec novembra/v začetku decembra 2012 znašal skoraj […] milijard EUR. Zneski so se v začetku leta 2012 zmanjšali, njihovo dodeljevanje pa se je končalo 1. februarja 2012 [68].
Following a letter dated 14 May 2012 from the Commission’s services to the Belgian and French authorities, Belgium and France notified a copy of the agreement of 2 February 2012 to the Commission’s services on 16 May 2012.
Belgija in Francija sta službam Komisije 16. maja 2012 priglasili izvod pogodbe z dne 2. februarja 2012, potem ko so njuni organi 14. maja 2012 prejeli dopis služb Komisije.
According to this agreement:
V skladu s to pogodbo:
The Member States concerned indicated that the maximum amounts granted by the BdF to DCL were close to EUR […] billon at the end of December 2011. The maximum amounts granted by the BdF from 2 February 2012 were EUR […] billion (early February 2012).
Zadevne države članice so navedle, da je najvišji znesek pomoči, ki ga je banki DCL ob koncu decembra 2011 dodelila banka BdF, znašal skoraj […] EUR. Najvišji zneski, ki jih je banka BdF dodelila od 2. februarja 2012, so znašali […] milijard EUR (v začetku februarja 2012).
As regards the financing plan, Dexia notes [74] that a faster reduction of its legacy portfolio in order to limit financing needs would have come up against the fact that the fair (‘marked-to-market’) value of the bond portfolio covering a nominal amount of EUR [70-80] billion was only EUR [50-60] billion, which would have entailed a potential loss of EUR [10-20] billion. In response to the Commission’s questions about the liquidity of the legacy portfolio bonds and in particular why a fair value based on market prices or a price estimated by means of a model was not considered to be a good indication of future losses, Dexia refers to its memorandum on the different deleveraging options discussed in Annex 25 to the revised orderly resolution plan and to commitment 10(c) accompanying that plan.
Glede načrta financiranja skupina Dexia navaja [74], da bi bilo hitrejše zmanjševanje njenega preostalega portfelja za omejitev potreb po financiranju v nasprotju z dejstvom, da je poštena vrednost (glede na tržne razmere) portfelja obveznic v vrednosti nominalnega zneska [70–80] milijard EUR znašala le [50–60] milijard EUR, zaradi česar bi nastala morebitna izguba v višini [10–20] milijard EUR. Skupina Dexia se v odgovor na vprašanja Komisije o likvidnosti obveznic iz preostalega portfelja in zlasti o tem, zakaj se poštena vrednost na osnovi tržnih cen ali cene, ocenjene s pomočjo modela, ni štela kot dobro znamenje prihodnjih izgub, sklicuje na svoj memorandum o različnih možnostih zmanjšanja finančnega vzvoda, o katerih se je razpravljalo v Prilogi 25 k spremenjenemu načrtu nadzorovanega reševanja, ter na svojo zavezo 10c), vključeno v ta načrt.
On the failure to comply with the commitments and conditions in the conditional authorisation decision, the Dexia Group and the Member States concerned contend that the Commission infringed the principle that the trustee must be independent, and that it was mistaken in its assessment of the implementation of the February 2010 restructuring plan.
O neizpolnjenih zavezah in pogojih iz sklepa o pogojnem dovoljenju skupina Dexia in zadevne države članice trdijo, da je Komisija kršila načelo, da mora biti skrbnik neodvisen, ter da se je pri svoji oceni izvajanja načrta prestrukturiranja iz februarja 2010 zmotila.
They also claim that ‘even if the small number of failings alleged by the independent trustee in his third report were established, it cannot reasonably be argued that they […] the implementation of the February 2010 restructuring plan were the source of the very serious problems encountered by the Group in October 2011’, which were justified by the sovereign debt crisis [86].
Poleg tega trdijo, da „tudi če bi se ugotovilo le nekaj pomanjkljivosti, ki jih je navedel neodvisni skrbnik v tretjem poročilu, ni mogoče upravičeno trditi, da […] je izvajanje načrta prestrukturiranja iz februarja 2010 vir resnih težav, ki jih je imela skupina Dexia oktobra 2011“, in ki so jih utemeljile z dolžniško krizo [86].
The deleveraging target for the end of 2010 was, admittedly, met by 30 June the following year, but the fact remains that the commitment was not fulfilled for 2010.
Cilj zmanjšanja finančnega vzvoda za konec leta 2010 je bil sicer izpolnjen do 30. junija prihodnjega leta, toda dejstvo je, da zaveza za leto 2010 ni bila izpolnjena.
Furthermore, the Commission points out that the annual deleveraging commitment was calculated when the conditional authorisation decision was adopted, on the basis of a Dexia Group that included DBB/Belfius.
Poleg tega Komisija poudarja, da je bila zaveza o letnem zmanjšanju finančnega vzvoda izračunana ob sprejetju sklepa o pogojnem dovoljenju na podlagi skupine Dexia, v katero je bila vključena banka DBB/Belfius.
In the case of deposits, the special fund guarantees a second tranche of EUR 50000-100000 on top of the first tranche of EUR 50000 already guaranteed by the deposit and financial instrument protection fund.
V primeru vlog posebni sklad jamči za drugi obrok v višini 50000–100000 EUR, ki se doda prvemu obroku v višini 50000 EUR, za katerega že jamči sklad za zaščito vlog in finančnih instrumentov.
In the case of ‘branch 21’ life insurance products, the special fund guarantees these products for the sum of EUR 100000 [95];
Posebni sklad pa jamči za produkte življenjskega zavarovanja, imenovanega „branche 21“, in sicer v višini 100000 EUR [95],
This guarantee is legally enforceable.
To jamstvo je pravno izvršljivo.
The Commission notes that the price valuation supplied by the Belgian authorities shows a value of between EUR 2,8 billion and EUR 7,2 billion. After taking account of unrealised losses resulting from market conditions in summer 2011 (deterioration of some EUR [0-2] billion in unrealised losses), and of the profit outlooks announced (EUR 408 million and EUR […] million for 2012 and 2013 respectively), and on the basis of the various ways of valuing European banking groups similar to Belfius (P/E ratio [121] of [5-10] for 2012 and 2013 and P/TBV [122] of [0,6-0,8] at the end of 2011), it appears that the value of the part of DBB/Belfius that was sold may be estimated at between EUR [0-5] billion and EUR [0-5] billion.
Komisija ugotavlja, da je iz vrednotenja cene, ki so ga zagotovili belgijski organi, razviden znesek med 2,8 milijarde EUR in 7,2 milijarde EUR. Zdi se, da se lahko po upoštevanju nerealiziranih izgub, nastalih zaradi tržnih pogojev poleti leta 2011 (poslabšanje v višini [0–2] milijardi EUR nerealiziranih izgub), in objavljenih obetov glede dobička (408 milijonov EUR za leto 2012 in […] milijonov EUR za leto 2013) ter na podlagi različnih načinov vrednotenja evropskih bančnih skupin, podobnih skupini Belfius (razmerje C/D [121] je znašalo [5–10] za leti 2012 in 2013, razmerje C/OKV [122] pa je ob koncu leta 2011 znašalo [0,6–0,8]), vrednost prodanega dela banke DBB/Belfius oceni med [0–5] milijardami EUR in [0-5] milijardami EUR.
The Commission also notes that a market investor would not have made such an acquisition in such a short space of time and without the appropriate due diligence.
Komisija tudi navaja, da tržni vlagatelj take pripojitve ne bi izpeljal v tako kratkem času in brez primerne skrbnosti.
The formal investigation confirmed these doubts.
Ti dvomi so se potrdili v formalnem postopku preiskave.
In order to stabilise the Group’s financial position, the negative own funds situation of Dexia SA on 30 September 2012 and DCL on 31 December 2012 has to be addressed.
Odpraviti je treba stanje negativnih lastnih sredstev družbe Dexia SA z dne 30. septembra 2012 in banke DCL z dne 31. decembra 2012, da bi se stabiliziral finančni položaj skupine.
No private owner who knew anything about market economics would carry out such a recapitalisation in a group in difficulties while at the same time undertaking to place it in resolution.
Take dokapitalizacije skupine v težavah ne bi izvajal noben zasebni lastnik, ki bi se vsaj malo spoznal na tržno gospodarstvo, in si obenem prizadeval za uvedbo likvidacijskega postopka.
In support of their argument, the Member States concerned merely state in their joint comments on the decision to extend the procedure and the decision to increase the guarantee ceiling that ‘the different legal persons making up this ‘lending structure’ have different shareholders and, in any case, are each pursuing their own business interest’ and that ‘the different sections of the ‘new mortgage lending structure’ [i.e. DMA, the NEC and the JV] will always have different interests’.
Zadevne države članice so v podporo svoji utemeljitvi v skupnih pripombah na sklep o razširitvi postopka in sklep o povečanju zgornje meje jamstva zgolj navedle, da „imajo različne pravne osebe, ki sestavljajo to ‚hipotekarno strukturo‘, različne delničarje, ki v vsakem primeru uveljavljajo lastne poslovne interese“ ter da „bodo različni deli ‚nove strukture hipotekarnega kreditiranja‘ “ [tj. družba DMA, nova kreditna institucija in skupno podjetje] „vedno imeli različne interese“.
The only argument advanced for the existence of these different interests is that ‘… these entities [DMA, the NEC and the JV] are connected to each other by service links which vertically integrate a number of services. At each level of this value chain operators will seek to extract maximum profit in pursuit of their own interests. These entities will have to divide between them the margin resulting from local authority financing operations’ [132].
Edina navedena utemeljitev glede obstoja teh različnih interesov se nanaša na to, da „[…] so ti subjekti [tj. družba DMA, nova kreditna institucija in skupno podjetje] medsebojno povezani s službami, v katere so vertikalno integrirane številne storitve. Na vsaki stopnji te vrednostne verige si bodo gospodarski subjekti pri uveljavljanju lastnih interesov prizadevali za čim večji dobiček. Ti subjekti si bodo morali med seboj razdeliti maržo, ki izhaja iz ukrepa financiranja lokalnih skupnosti“ [132].
The French authorities themselves point out in point 78 of their notification of the DMA sale operation that ‘the regulatory framework applicable to mortgage lending companies prohibits them from employing staff’.
Tudi francoski organi v točki 78 priglasitve transakcije prodaje družbe DMA poudarjajo, da „je v pravnem okviru, ki se uporablja za družbe za hipotekarno kreditiranje, prepovedano, da bi te družbe zaposlovale ljudi“.
They also state in the same document that the day-to-day management of DMA’s assets will be carried out by NEC and will include in particular the administration and recovery of loans, the desensitisation of DMA’s ‘sensitive loans’, management of the securities portfolio, treasury management and management of long-term refinancing through mortgage bonds, risk management and cover through market operations, management of DMA’s balance sheet, tool maintenance and in-house scoring methods [136].
V istem dokumentu tudi navajajo, da bo vsakodnevno upravljanje sredstev družbe DMA izvajala nova kreditna institucija, obsegalo pa bo zlasti upravljanje in izterjavo posojil, desenzibilizacijo občutljivih posojil družbe DMA, upravljanje portfelja vrednostnih papirjev, upravljanje zakladnice in upravljanje dolgoročnega refinanciranja s hipotekarnimi obveznicami, upravljanje tveganja in kritje s tržnimi transakcijami, upravljanje bilance stanja te družbe ter vzdrževanje orodij in notranjih metod za točkovanje [136].
Point 18 of the same commitments, entitled ‘Capital level of the NEC and DMA’ states that the capital level which the shareholders undertake to maintain is what is needed to cover any losses that may take place in respect of DMA’s existing portfolio.
V točki 15 istih zavez z naslovom „Stopnja kapitala za novo kreditno institucijo in družbo DMA“ je navedeno, da je stopnja kapitala, ki so se jo delničarke zavezale ohranjati takšna, kot je potrebna za kritje kakršnih koli morebitnih izgub glede sedanjega portfelja družbe DMA.
This means that the level of any recapitalisation of the NEC will be determined by DMA’s needs.
To pomeni, da bo stopnja kakršne koli dokapitalizacije nove kreditne institucije določena glede na potrebe družbe DMA.
The panel will be decided from the list of French banks contributing to the calculation of the Euribor, excluding institutions regarded as non-comparable to the NEC and DMA in terms of their long-term ratings and prospects and their risk profiles (type of activity, geographical exposure, prudential ratios, etc.).
Odbor kreditnih institucij bo določen na podlagi seznama francoskih bank, ki prispevajo k izračunu mere Euribor, vanj pa ne bodo vključene institucije, ki po mnenju nove kreditne institucije in njenih delničarjev niso primerljive z novo kreditno institucijo in družbo DMA v smislu njihovih dolgoročnih bonitetnih ocen in možnosti ter profilov tveganja (vrsta dejavnosti, geografska izpostavljenost, bonitetna razmerja itd.).
As far as possible, the panel will be made up of at least three banks.
Odbor kreditnih institucij bodo, kolikor je to mogoče, sestavljale vsaj tri banke.
The amount of aid in the ELA granted by the BNB corresponds to the maximum granted, that is to say EUR […] billion. The amount of aid granted by the BdF corresponds to half of the maximum granted since 2 February 2012, that is to say EUR […] billion.
Znesek pomoči v izredni likvidnostni pomoči, ki jo je dodelila banka BNB, ustrezna najvišjemu dodeljenemu znesku, tj. […] milijard EUR. Znesek pomoči, ki ga je dodelila banka BdF, ustrezna polovici najvišjega zneska, dodeljenega od 2. februarja 2012, tj. […] milijard EUR.
Expected losses (EUR [250-550] million) over the period 2012-16 on the investment portfolio represent [100-150] basis points of the nominal value of the portfolio on 31 December 2011.
V obdobju 2012–2016 pričakovane izgube ([250–550] milijonov EUR) v portfelju naložb znašajo [100–150] bazičnih točk nominalne vrednosti portfelja z dne 31. decembra 2011.
The Commission has viewed these expected losses as realistic and unlikely to threaten the bank’s long-term viability.
Po mnenju Komisije so te pričakovane izgube realistične in ni verjetno, da bi ogrozile dolgoročno uspešno poslovanje banke.