natgillin/translations-raw huggingface dataset:
A calculation contained in the submitted liquidation plan shows that without the aid measures the bank would have had as from 2013 a negative capital ratio, both for the Tier-1 ratio […] and the overall own funds ratio […].
MREŽA V JUGOVZHODNI EVROPI
That calculation is fictional in so far as there would have been the need for a drastic downsizing or a liquidation of the bank even before.
Poslovna dejavnost mreže v jugovzhodni Evropi se je že občutno zmanjšala in se osredotočila na glavne trge in osrednje sposobnosti v Sloveniji, na Hrvaškem, v Bosni in Hercegovini, Srbiji in Črni gori.
According to Austria liquidation would have had systemic financial stability effects in Austria, in particular due to the liability guarantees assumed by Land Carinthia, which might have been triggered in such scenario, but also in those SEE countries where HGAA has a significant market share.
Poleg tega so bili operativni subjekti v navedenih državah razbremenjeni z izločitvijo portfelja v vrednosti 2,4 milijarde EUR, za leto 2013 pa je načrtovana nadaljnja izločitev portfelja v vrednosti […] EUR, ki čaka na odobritev lokalnih nadzornih organov.
Even in early […], the asset quality relating to new business continued to be problematic and the margins inadequate, when taking appropriate risk and capital costs into account.
Poleg tega je bila poslovna strategija delovanja navedenih subjektov v jugovzhodni Evropi spremenjena s ciljem izboljšanja njihove možnosti za prodajo s poudarkom na manjših poslih, poslovanju s prebivalstvom in MSP.
Previously submitted restructuring plans did not demonstrate HGAA’s stand-alone viability.
Njihova strategija financiranja se prav tako spreminja, saj si lokalni subjekti v jugovzhodni Evropi prizadevajo zagotoviti bolj lokalno financiranje, da se ne bi preveč zanašali na financiranje s strani skupine.
Even the ‘management case’, which does not contain adequate measures to limit potential distortions of competition, shows a return to a modest profitability (of […]) only in the year 2017, with losses before that.
V Sloveniji so bančne dejavnosti osredotočene na […] in […] stranke […] s ciljem […].
Moreover, potential costs for the prolongations of guarantees beyond 2013 are not included in that prognosis.
[…] bo občutno zmanjšana in načrtuje izstop iz […], medtem ko bo banka ostala dejavna v […].
PARTIAL COMPLIANCE WITH COMMITMENTS
Na Hrvaškem banka namerava […] s ciljem […].
In the December 2012 rescue decision the Commission authorised the measures notified by Austria in light of certain commitments made by the Member State which were intended to ensure that competition distortions would be limited as much as possible.
Cilj za […] je povečanje osredotočenosti na […].
The commitments aimed at limiting the bank’s business activities, e.g. in terms of return levels, risk categories of customers and maturities thus contributing to limiting risky behaviour and therefore the possibility to expand business to the detriment of competitors.
[…] je osredotočena na […].
It referred in particular to the restriction as regards foreign currency loans, the restriction to limit public finance and corporate credit engagements to clients with a credit rating of […] which Austria claimed could not be implemented in the SEE countries and, for HBA, the restriction to limit public finance engagements to […].
V zvezi z […] je poudarek na […] kot tudi na […].
THE LIQUIDATION PLAN
Cilj banke je […], tudi za uspešne portfelje […].
On 29 June 2013 Austria submitted a liquidation plan under which HGAA will be liquidated in an orderly manner with the necessary time available to sell potentially viable assets while the remaining parts will be wound down over time.
V Črni gori se […] osredotočajo na […], medtem ko se osredotoča na […].
Under the liquidation plan, the balance sheet size of HGAA will decrease by 85 % from EUR 43,3 billion at the end of 2008 to EUR 6,56 billion in 2017.
Cilj sprememb v osredotočenosti in poslovni strategiji bank v jugovzhodni Evropi je povečanje možnosti, da se bodo subjekti sčasoma lahko prodali.
In the same period its RWA will decrease by 85 % to EUR 4,75 billion from EUR 32,8 billion at the end of 2008.
Deli mreže v jugovzhodni Evropi, ki ne bodo prodani do 30. junija 2015, bodo takoj prenehali sprejemati nove posle in bodo preneseni v enoto za likvidacijo [21].
To implement that liquidation, the liquidation plan presents a strategy for the bank’s three remaining pillars, i.e. (i) the Austrian bank (HBA), (ii) the SEE network and (iii) the wind-down part.
ENOTA ZA LIKVIDACIJO
The liquidation process will be steered from the central group level, where meanwhile a number of improvements have taken place as regards – inter alia – risk management, reporting, collateral valuation and procedures relating to ratings [19].
Cilj enote za likvidacijo je čim prej zmanjšati vse subjekte in portfelje, ki bodo likvidirani.
Overall, the liquidation plan puts the focus on completing the sale of HBA, which has already been instigated, and increasing the attractiveness of the SEE network with the aim of enabling a sale of all SEE entities by 30 June 2015 at the latest.
Dejavnosti v Italiji so že v postopku likvidacije.
To that end, Austria has given a number of commitments for any new business with the aim of ensuring an adequate balance of risk and profitability as long as the SEE entities have not been sold.
Cilj je izvesti nadzorovan postopek likvidacije in se hkrati izogniti nenadnemu dvigovanju bančnih vlog [22].
In particular, HGAA will in principle only disburse new retail mortgages with a loan to value-ratio of […]% or higher, the internal funding cost matrix will be commensurate with the funding situation of the relevant branch or subsidiary and […] will, apart from certain exceptions, only be provided to clients if that client has a […].
Poleg tega del za likvidacijo zajema vse druge portfelje, ki so bili določeni za likvidacijo (vključno s subjekti, ki so ustavili nove posle, kar vključuje hčerinske družbe v Makedoniji, Ukrajini, Bolgariji, Nemčiji in na Madžarskem), ter deleže v industrijskih in turističnih družbah.
THE SALE OF HBA
Če povzamemo, del za likvidacijo vključuje predvsem:
On 31 May 2013 a contract for the sale of all HBA shares was signed with Anadi Financial Holdings Pte.
HBI;
Until the closure of the sale, HBA will continue to focus on its position as a regional bank in Carinthia with branches in Vienna and Salzburg.
finančna sredstva za likvidacijo, in sicer (a) portfelj HBInt ter preostale obstoječe portfelje za likvidacijo in kreditne linije za refinanciranje v različnih subjektih (zlasti v HBI in državah jugovzhodne Evrope), (b) portfelje, ki so bili izločeni iz nekaterih hčerinskih družb, kot so HBI in banke ali lizing družbe v mreži v jugovzhodni Evropi, ter (c) lizing družbe, ki bodo likvidirane;
The size of the bank has already been reduced significantly and a problematic portfolio amounting to EUR 1,99 billion was hived off before 31 December 2011.
družbi Norica in HBInt Credit Management (CM) [23].
The balance sheet of HBA as of 31 December 2012 amounted to EUR 4,15 billion (while the balance sheet by 31 December 2008 amounted to EUR 7,05 billion).
Za leto 2017 so skupne potrebe po kapitalu (zlasti zaradi odpisov knjigovodske vrednosti subjektov, ki jih je treba prodati, ter zaradi nadaljnjih izgub različnih portfeljev in potreb po refinanciranju) ocenjene na približno 2,6 milijarde EUR v osnovnem primeru in do 5,4 milijarde EUR v izjemnem pesimističnem primeru.
SEE NETWORK
Načrt za likvidacijo predvideva tudi potrebe po dodatni likvidnosti, ki so odvisne od tega, ali bo kapital zagotovljen v gotovini ali v obliki jamstva.
The business activity of the SEE network has already been significantly reduced by focusing on core markets and core competences in Slovenia, Croatia, Bosnia and Herzegovina, Serbia and Montenegro.
Ob predpostavki, da bo kapital zagotovljen v likvidni obliki, bi potrebe HGAA po dodatnih likvidnih sredstvih do leta 2017 v osnovnem primeru znašale 2,5 milijarde EUR, v izjemnem pesimističnem primeru pa bi po ocenah dosegle 3,3 milijarde EUR [24].
The balance sheet size of the total SEE network amounts to EUR 10,11 billion as of 31 December 2012 and will decrease further to less than EUR […] after the envisaged additional portfolio transfer has been completed, amounting to about […] % of the balance sheet size when compared to 31 December 2008 (EUR 14,8 billion).
Avstrija je na primer sporočila, da raziskuje možnost ustanovitve družbe za upravljanje premoženja, ki bi HGAA omogočila, da prenese sredstva za likvidacijo na navedeni subjekt, ki bo posloval brez dovoljenja za opravljanje bančnih storitev.
Furthermore, there has been a change in the business strategy of those entities’ operation in the SEE countries, aiming at improving their saleability, with a focus on small-scale business and on retail and SME.
Takšen prenos bi vplival na čas nastanka potreb po kapitalu.
Their funding strategy is also changing, with local SEE entities focusing on becoming more locally funded instead of relying too strongly on the funding provided by the group.
ZAVEZE AVSTRIJE
New business is already now fully locally funded.
Avstrija se je zavezala, da bo zagotovila, da bo načrt za likvidacijo, ki je bil predložen 29. junija 2013 in kot je bil nazadnje spremenjen s sporočilom Avstrije z dne 27. avgusta 2013, izveden v celoti, vključno z zavezami iz Priloge, in v skladu s časovnim razporedom iz navedene priloge.
In Slovenia the focus of the banking activities is on […] and […] clients […] with the aim of […].
RAZLOGI ZA ZAČETEK POSTOPKA
[…] will be reduced significantly with a planned exit from […] while the bank remains active in […].
Komisija opominja, da je začela formalni postopek preiskave v skladu s členom 108(2) Pogodbe v zvezi z združljivostjo pomoči za prestrukturiranje HGAA z notranjim trgom, ker je na podlagi predhodno predloženih načrtov prestrukturiranja resno dvomila, da bo lahko HGAA ponovno vzpostavila svoje dolgoročno uspešno poslovanje.
In Croatia the bank aims to […] with the objective of […].
Komisija je poleg tega izrazila dvom, da je zagotovljena ustrezna porazdelitev bremena in da so izkrivljanja konkurence ustrezno omejena.
For […], the aim is to focus more on […].
Komisija je večkrat podvomila v zmožnost skupine HGAA, da ponovno vzpostavi uspešno poslovanje [25], in izrecno izrazila resne dvome glede njenega poslovnega modela [26].
The focus of the […] is on […].
Komisija je izrazila tudi dvome, da bo lahko HGAA ustrezno izplačala nadomestila za svoj kapital, kar je predpogoj, ki ga mora banka izpolniti, da se lahko šteje za donosno [27].
In Bosnia and Herzegovina the focus will be increasingly on […] coupled with a stringent […], better […] and a […]. […] will be reduced with […] remaining the focus.
Komisija je v svojem sklepu o reševanju iz decembra 2009 od države članice že zahtevala, da razmisli o možnosti nadzorovane likvidacije banke [28].
In Serbia the focus is on […] with the aim of […].
Pri ocenjevanju uspešnosti poslovanja je Komisija izrazila zlasti dvom glede strategije financiranja [29], kakovosti sredstev [30] in struktur notranjega nadzora [31].
As regards […], the focus is on […] as well as […].
Komisija je v uvodni izjavi 37 svojega sklepa o reševanju iz decembra 2012 izrazila dvom glede kakovosti novih poslov HGAA.
The bank aims at […], even for performing portfolios […].
V zvezi s porazdelitvijo bremena je v sklepu o začetku postopka iz leta 2009 [32] in v sklepu o reševanju iz decembra 2009 [33] omenjena morebitna pomanjkljiva porazdelitev bremena na BayernLB in nekdanje lastnike HGAA (GRAWE in zvezna dežela Koroška).
In Montenegro the […] focus on a […], whereas focusses on […].
V uvodni izjavi 102 sklepa o začetku postopka iz leta 2009 je omenjena pomanjkljiva porazdelitev bremena na lastnike hibridnega kapitala HGAA.
The change in the focus and business strategy of the SEE banks aims at increasing the chances that the entities can be sold over time.
V uvodni izjavi 41 sklepa o podaljšanju iz leta 2010 so izraženi pomisleki, ali je za kapital, ki ga je Avstrija vložila v HGAA pod pogoji avstrijskega programa, zagotovljeno zadostno nadomestilo, saj je Avstrija banko štela za načeloma zdravo in je bila banka zato deležna ugodnejših stopenj nadomestila, kot bi jih sicer imela v primeru, da bi se štela za banko v težavah.
The liquidation plan provides that the SEE network will be sold as a whole or in parts by 30 June 2015.
V zvezi z izkrivljanjem konkurence je Komisija na podlagi načrtov, ki jih je Avstrija predhodno predložila, izrazila dvom, da bo obseg zmanjšanja bilančne vsote zadosten [34], in večkrat pozvala k ukrepom za odpravo izkrivljanj konkurence [35].
Any sale will be done through open and transparent sale procedures where buyers will have the choice to acquire all or part of the network.
Zaradi čedalje večjega zneska pomoči je Komisija večkrat pozvala k dodatnim ukrepom za odpravo izkrivljanj konkurence [36].
Any part of the SEE network not sold by 30 June 2015 will immediately cease to undertake new business and be transferred to the wind-down unit [21].
PRIPOMBE ZAINTERESIRANIH STRANI
THE WIND-DOWN UNIT
Zainteresirane strani niso predložile nobenih pripomb.
The aim of the wind-down unit is to reduce all wind-down entities and portfolios as quickly as possible.
PRIPOMBE AVSTRIJE
The activities in Italy are already in wind-down.
Pripombe Avstrije se nanašajo predvsem na obravnavanje državne pomoči družbi BayernLB s strani Komisije.
The aim is to steer an orderly wind-down process while avoiding an abrupt withdrawal of deposits [22].
Avstrija je 5. oktobra 2012 vložila tožbo [38] za razglasitev ničnosti navedenega sklepa in predvsem trdila, da Komisija ni pojasnila, zakaj bi bilo treba ukrep šteti za združljivega z notranjim trgom, ter vztrajala, da ukrep ni pomoč v korist BayernLB.
In addition, the wind-down part encompasses all other portfolios which have been identified to be wound down (including entities which have stopped new business including the subsidiaries in Macedonia, Ukraine, Bulgaria, Germany and Hungary), as well as stakes in industrial and touristic companies.
Avstrija se zavezuje, da bo zagotovila popolno spoštovanje vseh zavez iz Priloge.
In summary, the wind-down part includes in particular:
OCENA
HBI,
Pri oceni pomoči za prestrukturiranje je treba upoštevati vse zneske pomoči, dodeljene HGAA od leta 2008.
Non-strategic company stakes (industrial and touristic),
OBSTOJ POMOČI
Wind-down financials, namely (a) the portfolio of HBInt as well as the existing wind-down portfolios and refinancing lines remaining in various entities (in particular in HBI and SEE countries); (b) the portfolios which have been removed from some subsidiaries such as HBI and SEE-network banks or leasing companies; (c) the wind-down leasing companies,
Člen 107(1) Pogodbe določa, da je vsaka pomoč, ki jo dodeli država članica, ali kakršna koli vrsta pomoči iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, nezdružljiva z notranjim trgom, kolikor prizadene trgovino med državami članicami.
The vehicles Norica and HBInt Credit Management (CM) [23].
Da bi ukrep veljal za državno pomoč, morajo biti izpolnjeni naslednji pogoji: (i) ukrep se mora financirati iz državnih sredstev, (ii) ukrep mora dajati prednost posameznim podjetjem ali proizvodnji posameznega blaga, (iii) ta prednost mora biti selektivna in (iv) ukrep mora izkrivljati ali bi lahko izkrivljal konkurenco ter prizadel trgovino med državami članicami.
Until 2017, the estimated cumulative capital needs (mainly due to write-downs of the book value of the entities to be sold, due to further losses on different portfolios and due to needed refinancing) amount to about EUR 2,6 billion in a base case and up to EUR 5,4 billion under an adverse stress pessimistic case.
Ker so ti pogoji kumulativni, morajo biti izpolnjeni vsi, da se lahko ukrep šteje za državno pomoč.
The liquidation plan also assumes additional liquidity needs depending on whether the capital would be provided in cash or via a guarantee.
Uvodne izjave 51 do 56 odločbe, s katero je bil odobren program pomoči bančnemu sektorju, potrjujejo, da je vsak ukrep, dodeljen v okviru navedene sheme, državna pomoč.
Under the assumption that the capital is provided in a liquid form the required additional liquidity needs of HGAA until 2017 would amount to EUR 2,5 billion in a base case and are estimated to reach EUR 3,3 billion in a stressed pessimistic case [24].
Komisija poleg tega opozarja, da je v uvodnih izjavah 48 do 53 sklepa o reševanju iz decembra 2009, uvodni izjavi 25 sklepa o reševanju iz julija 2011 in uvodni izjavi 16 sklepa o reševanju iz decembra 2012 že ugotovila, da ukrepi pomoči, navedeni v (a) in (b), izpolnjujejo pogoje iz člena 107(1) Pogodbe ter da navedeni ukrepi zato pomenijo pomoč.
However, as according to Austria different options are still being examined for the wind-down part, those estimates may still change.
Komisija vztraja pri svojem mnenju, kot je pojasnjeno v nadaljevanju.
For instance, Austria has announced that it is exploring the option of installing an asset management company (‘AMC’), which would enable HGAA to transfer wind-down assets to that entity, operating without a banking licence.
Ukrepi, ki jih je zagotovila Avstrija v okviru programa pomoči bančnemu sektorju
Such a transfer would affect the point in time at which the capital needs would arise.
Vsi ukrepi, dodeljeni v okviru programa pomoči bančnemu sektorju, in sicer dokapitalizacija v znesku 900 milijonov EUR ter jamstva v skupnem znesku 1,35 milijarde EUR, ki jih je banka prejela leta 2008, pomenijo pomoč, kot je določeno v uvodnih izjavah 51 do 56 odločbe o odobritvi navedenega programa.
COMMITMENTS PROVIDED BY AUSTRIA
Nadaljnji ukrepi, ki jih je odobrila Avstrija
Austria has undertaken to ensure that the liquidation plan submitted on 29 June 2013, as last modified by Austria’s communication of 27 August 2013, is implemented in full, including the commitments set out in the Annex, and in accordance with the timetable laid down in that Annex.
Avstrija je zunaj okvira programa pomoči bančnemu sektorju odobrila dokapitalizacijo v znesku 450 milijonov EUR, jamstvo za sredstva v znesku 100 milijonov EUR (ki je že poteklo), jamstvo za sredstva v znesku 200 milijonov EUR, povečanje kapitala za 500 milijonov EUR v obliki delnic in jamstvo za podrejene instrumente kapitala drugega reda v nominalni vrednosti 1 milijarde EUR.
The Commission recalls that it opened the formal investigation procedure pursuant to Article 108(2) of the Treaty regarding the compatibility of the restructuring aid for HGAA with the internal market because it had, on the basis of the earlier submitted restructuring plans, serious doubts whether HGAA would be able to restore its long-term viability.
Dodeljeni bodo enemu podjetju, zato so selektivni.
The Commission had also expressed doubts whether adequate burden-sharing was ensured and the distortions of competition were sufficiently limited.
Dodeljeni so bili pod pogoji, ki jih HGAA na trgih sicer ne bi bila deležna, čemur Avstrija ne oporeka.
The Commission has repeatedly questioned the ability of HGAA to restore its viability [25], with serious doubts explicitly raised regarding the business model [26].
Ker je HGAA podjetje, dejavno v finančnem sektorju, ki je odprt za intenzivno mednarodno konkurenco, lahko kakršna koli prednost, dodeljena banki HGAA iz državnih sredstev, prizadene trgovino znotraj Unije in izkrivlja konkurenco.
The Commission has also raised doubts as to whether HGAA would be able to remunerate its capital sufficiently, which is a precondition for a bank to be considered viable [27].
Navedene ugotovitve so bile že predstavljene v uvodni izjavi 16 sklepa o reševanju iz decembra 2012 in so potrjene v tem sklepu.
In its December 2009 rescue decision the Commission has already requested the Member State to consider the option of an orderly winding down of the bank [28].
Dokapitalizacija s strani družbe BayernLB
In assessing viability, the Commission raised in particular doubts relating to the funding strategy [29], asset quality [30] and internal control structures [31].
Svobodna dežela Bavarska je leta 2008 dokapitalizirala družbo BayernLB, ki je del sredstev uporabila za dokapitalizacijo svoje hčerinske družbe HGAA.
In recital 37 of its December 2012 rescue decision the Commission raised doubts about the quality of HGAA’s new business.
Glede na uvodno izjavo 124 odločbe o BayernLB je celotni znesek dokapitalizacije, ki ga je dodelila Svobodna dežela Bavarska, pomoč družbi BayernLB.
As regards burden-sharing, the 2009 opening decision [32] and the December 2009 rescue decision [33] mention a possible lack of burden-sharing from BayernLB and HGAA’s previous owners (GRAWE and Land Carinthia).
Ker se znesek pomoči v okviru enega ukrepa ne more šteti dvakrat, Komisija ugotavlja, da dokapitalizacija HGAA s strani BayernLB ni državna pomoč v korist HGAA.
The 2009 opening decision mentions in recital 102 a lack of burden-sharing from HGAA’s hybrid capital owners.
Poleg tega se zdi, da je družba BayernLB v času dokapitalizacije HGAA delovala tako, da bi zavarovala svoje naložbe v hčerinsko družbo, v skladu s premisleki glede tržnega gospodarstva, in da njene odločitve za dokapitalizacijo HGAA ni mogoče pripisati državi članici.
Recital 41 of the 2010 extension decision questions whether the injected capital into HGAA by Austria under the conditions of the Austrian scheme is sufficiently remunerated as the bank had been considered as fundamentally sound by Austria and thus benefitted from cheaper remuneration rates than would have been the case had it been considered as a distressed bank.
Pogojni ukrepi pomoči
On competition distortions, the Commission, based on the previous plans submitted by Austria, questioned whether the extent of the balance size reductions would be sufficient [34] and repeatedly called for measures which would address competition distortions [35].
Avstrija je zaprosila za odobritev ukrepov pomoči za zadovoljitev morebitnih prihodnjih potreb po kapitalu in likvidnosti, ki bi v izjemnem scenariju lahko znašale do 5,4 milijarde EUR za kapital in do 3,3 milijarde EUR za likvidnost.
Against the background of an ever increasing aid amount the Commission has repeatedly called for additional measures for addressing competition distortions [36].
Navedeni morebitni prihodnji ukrepi pomoči za likvidacijo HGAA bodo dodeljeni iz državnih sredstev v smislu člena 107(1) Pogodbe.
COMMENTS FROM INTERESTED PARTIES
Ker bodo dodeljeni pod pogoji, ki jih HGAA na trgih sicer ne bi bila deležna, pomenijo prednost.
No comments from interested parties were received.
Ugotovitev glede skupnega zneska pomoči
COMMENTS FROM AUSTRIA
Skupni znesek pomoči, ki jo je Avstrija dodelila banki HGAA prek povečanja kapitala, je 3,15 milijarde EUR (kar vključuje jamstva za sredstva v skupnem znesku 300 milijonov EUR, ki imajo enak učinek kot kapitalski vložek).
Austria’s comments deal mainly with the Commission’s treatment of State aid to BayernLB.
Poleg tega je Avstrija zaprosila za odobritev ukrepov v zvezi z likvidnostjo v znesku 3,3 milijarde EUR.
The Commission concluded in its Decision of 25 July 2012 in case SA.
ZDRUŽLJIVOST POMOČI
28487 (C16/2009) [37] regarding restructuring aid to BayernLB that the guarantee by the Republic of Austria on the liquidity amounting to EUR 2,638 billion which BayernLB, in the context of the 2009 rescue operation, has agreed to leave in HGAA, constituted State aid to the benefit of BayernLB and has subsequently authorised the aid measure as being compatible with the internal market.
Uporaba člena 107(3)(b) PDEU
On 5 October 2012 Austria brought an action for annulment [38] against that decision, arguing in particular that the Commission had failed to demonstrate why the measure should be considered compatible with the internal market and insisting that the measure does not constitute aid to the benefit of BayernLB.
Člen 107(3)(b) Pogodbe določa, da se lahko državna pomoč šteje za združljivo z notranjim trgom, če se dodeli „za odpravljanje resne motnje v gospodarstvu države članice“.