natgillin/translations-raw huggingface dataset:
Regarding burden-sharing, the Commission considered that restructuring on a stand-alone basis inflated the restructuring costs and therefore it doubted that State aid was limited to the minimum.
Sklad HFSF je glede ponovne vzpostavitve dolgoročno uspešnega poslovanja banke Nea Proton bank navedel okvir reševanja, na podlagi katerega je moral sklad HFSF banko Nea Proton Bank prodati v dveh letih, in se strinjal s Komisijo, da bi lahko bila banka Nea Proton Bank del večjega subjekta z uspešnim poslovanjem.
Moreover, the Commission noted that, despite the fact that sufficient burden-sharing of shareholders and subordinated debt holders was achieved, which was probably the maximum feasible, the absence of remuneration triggered the need for in-depth restructuring, both in terms of viability measures and in terms of measures to limit distortions of competition.
Načrt prestrukturiranja za banko Nea Proton Bank je temeljil na modelu „samostojnosti“, vendar je sklad HFSF pojasnil, da je bil njegov cilj pospešiti prodajo navedene banke z izboljšanjem njene privlačnosti za vlagatelje in njenih finančnih rezultatov.
The Commission also observed that the fact that a large part of the losses incurred stemmed from the waiver of debt in favour of the State justified a lower remuneration [110].
Sklad HFSF je menil, da so kapitalski vložki banki Nea Proton Bank omogočali upoštevanje najnižje ravni količnika kapitalske ustreznosti ter izboljšali njen finančni položaj in povečali njeno privlačnost za morebitno prihodnjo združitev z drugimi majhnimi bankami.
Regarding distortions of competition, the Commission noted that the huge amount of aid received by TT Bank and transferred activities of T Bank and the lack of remuneration called for a deep restructuring and reduction of the market presence of New TT Bank.
Sklad HFSF je navedel tudi, da je bil dodatni kapitalski vložek potreben za kritje izgub zaradi oslabitev, povezanih s programom PSI, in višjih stroškov rezervacij za posojila.
Moreover, while the losses stemmed mainly from the holding of GGBs, the Commission observed that TT Bank had held more GGBs than other Greek banks in proportion to its size and considered that it reflected inappropriate risk taking [111].
Sklad HFSF je ugotovil, da je banka Nea Proton Bank izboljšala svoje stroške financiranja in da zadrži več vlog.
Lastly, it noted that, although New TT Bank remained on the market almost as TT Bank had been before, the distortions of competition would be limited given the former’s relatively small size and the absence of foreign activities.
Banka Nea Proton Bank od Eurosistema ni odvisna že od leta 2012, svoj likvidnostni položaj pa je izboljšala.
However, the Commission doubted whether sufficient measures had been taken to limit undue distortions of competition and took the view that a price leadership ban and other behavioural measures might be necessary [112].
Dodatni kapitalski vložek je pripomogel k znižanju obrestnih mer za vloge in povečanju marže obrestnih mer.
COMMENTS FROM INTERESTED PARTIES ON THE FORMAL INVESTIGATION PROCEDURE REGARDING THE FIRST BRIDGE RECAPITALISATION
Banka Nea Proton Bank je del svojega portfelja posojil že prevrednotila z določanjem cen na podlagi tveganja z obrestnimi merami, ki precej presegajo stroške financiranja.
COMMENTS FROM A GREEK BANK
Načrtovana stopnja rasti neto prihodkov od obresti bi se dosegla z zmernim širjenjem v tržnem segmentu poslovanja s podjetji in krepitvijo kakovosti portfelja.
On 3 January 2013, the Commission received comments submitted by a Greek bank on the Eurobank Opening Decision.
Sklad HFSF je ugotovil, da je banka Nea Proton Bank leta 2012 znatno zmanjšala svoje stroške poslovanja, da bosta njeni edini odvisni podjetji prenehali s poslovanjem, da se njena udeležba v segmentu zavarovalnih posrednikov vedno bolj zmanjšuje in da bo prenehala z dejavnostmi trgovanja za svoj račun.
That Greek bank commented that the recapitalisation of Greek banks by the HFSF constituted, in principle, a welcome step towards a healthier and more viable banking system and expressed no objection to the recapitalisation of Eurobank.
Sklad HFSF je nazadnje navedel, da bi bilo izkrivljanje konkurence glede na majhen delež banke Nea Proton Bank v skupnih bančnih sredstvih Grčije in zaradi dejstva, da ne bo izvajala agresivnega zbiranja vlog, omejeno.
However, while expressing its entire support for the principle of the recapitalisation of Greek banks by the HFSF, that Greek bank explained that, in order to minimise distortions of competitions and to avoid discrimination, it expected that recapitalisation by the HFSF to be open to all banks operating in Greece under similar conditions.
PRIPOMBE GRČIJE K FORMALNEMU POSTOPKU PREISKAVE GLEDE BANKE NEW TT BANK
COMMENTS FROM GREECE ON THE FORMAL INVESTIGATION PROCEDURES
Ministrstvo za finance je 19. julija 2013 predložilo pripombe k sklepu o začetku postopka za banko New TT.
COMMENTS FROM GREECE ON THE FORMAL INVESTIGATION PROCEDURE REGARDING THE FIRST BRIDGE RECAPITALISATION
Ministrstvo za finance je glede nujnosti ukrepa NTT1 dodalo, da je bila točna vrednost sredstev in obveznosti, prenesenih na banko New TT Bank, določena na podlagi poročila zunanjih revizorjev v skladu z odstavkom 6 člena 63E zakona št. 3601/2007.
On 5 September 2012, Greece submitted comments which had been prepared by the Bank of Greece and the HFSF on the Eurobank Opening Decision.
Ministrstvo za finance je glede nujnosti ukrepa NTT2 podalo mnenje, da je bila v drugem programu prilagajanja za Grčijo (drugi pregled – maj 2013) zahtevana prodaja banke New TT Bank tretji osebi do 15. julija 2013.
Comments prepared by the Bank of Greece
Ministrstvo za finance je glede nadomestila ukrepov NTT1 in NTT2 ugotovilo, da ima sklad HFSF, ki je do 31. decembra 2013 financiral likvidnostno vrzel namesto sklada HDIGF, v primeru likvidacije sredstev, ki so ostala v lasti banke TT Bank, prednostni zahtevek pred drugimi nezavarovanimi upniki in da so pred zahtevkom sklada HFSF uvrščeni le zahtevki zaposlenih, ki bi prejeli 50 % svojega nadomestila.
It also noted that the first bridge recapitalisation was temporary, given that the recapitalisation process would be concluded with share capital increases by those four banks.
Ministrstvo za finance je glede ponovne vzpostavitve dolgoročno uspešnega poslovanja banke New TT Bank ugotovilo, da je bilo treba banko New TT Bank kot začasno kreditno institucijo v skladu s členom 63E zakona št. 3601/2007 prodati v dveh letih od njene ustanovitve.
The Bank of Greece also observed that the recapitalisation of the largest Greek banks is part of the longer term restructuring of the Greek banking sector.
Prodaja banke New TT Bank bi bila v skladu z memorandumom o gospodarskih in finančnih politikah iz maja 2013 zaključena do 15. julija 2013, kar bi zagotovilo dolgoročni poslovni uspeh njenih dejavnosti.
It noted that where a bank remains in private hands, the management will most probably remain the same, while if a bank becomes State-owned (that is to say, owned by the HFSF), the HFSF may appoint new management which, in any case, will be assessed by the Bank of Greece.
OCENA POMOČI, POVEZANE S PREVZETIMI PODJETJI
The Bank of Greece noted that it assesses the corporate governance framework, the adequacy of management and the risk profile of every bank on an ongoing basis in order to ensure that excessive risks are not taken.
OCENA POMOČI, POVEZANE Z BANKO NEA PROTON BANK
It also pointed out that the HFSF had already appointed representatives in the Board of Directors of the recapitalised banks.
Obstoj in znesek pomoči
Regarding the necessity of the first bridge recapitalisation, the Bank of Greece observed that the Bank’s recapitalisation was limited so as to ensure that the then applicable minimum capital requirements (8 %) were met.
Komisija mora ugotoviti obstoj državne pomoči v smislu člena 107(1) Pogodbe.
It also stated that the protracted period of time prior to the recapitalisations was due to the sharp deterioration of the operating environment in Greece and the impact of the PSI programme, to the complexity of the whole project and to the need to maximise private investors’ participation in the share capital increases.
Skladno s to določbo je državna pomoč 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, če prizadene trgovino med državami članicami.
Regarding the proportionality of the first bridge recapitalisation, the Bank of Greece pointed out that the full implementation of the restructuring plan to be submitted to the Commission is safeguarded by the fact that the suspension of the voting rights of the HFSF will be lifted if, inter alia, the restructuring plan is substantively violated.
Obstoj pomoči pri ukrepih, dodeljenih v okviru programa pomoči grškim bankam (ukrepi Pr1, Pr2 in Pr3)
The Bank of Greece also observed that the Bank’s difficulties were not due either to an underestimation of risks by the Bank’s management or to commercially aggressive actions.
Kapitalski vložek v višini 80 milijonov EUR, ki ga je grška država maja 2009 dodelila banki Proton Bank (ukrep Pr1), grški državni vrednostni papirji v višini 78 milijonov EUR, ki jih je banka Proton Bank pridobila aprila 2009 (ukrep Pr2), in državno jamstvo, ki je bilo dano banki Proton Bank julija 2010 za izdane obveznice v nominalni vrednosti 149,4 milijona EUR (ukrep Pr3), so bili dodeljeni v okviru programa pomoči grškim bankam [113].
Comments prepared by the HFSF
Komisija je v sklepu o odobritvi tega programa ugotovila, da pomenijo ukrepi, dodeljeni v okviru programa, državno pomoč.
Regarding the appropriateness of the first bridge recapitalisation, to address the issue of potential State interference if the State provides high amounts of State aid through the HFSF and the HFSF has full voting rights, the HFSF stated that the HFSF-funded banks are not considered to be public entities or under State control and that they would not be controlled by the State after they have been permanently recapitalised by the HFSF.
Kot je bilo ugotovljeno v uvodni izjavi 38 sklepa o začetku postopka za banko Nea Proton, vključuje ta banka gospodarske dejavnosti banke Proton Bank.
The HFSF pointed out that it is a fully independent private-law legal entity with autonomy of decision.
Banka Nea Proton Bank ima koristi od ukrepov Pr1, Pr2 in Pr3, saj so prispevali k stabilizaciji in nadaljevanju gospodarskih dejavnosti, ki so bile prenesene nanjo in jih drugače ne bi bilo več.
It is not subject to government control, pursuant to Article 16C, paragraph 2 of the HFSF Law, according to which the credit institutions to which the HFSF has provided capital support are not part of the broader public sector.
Zato Komisija meni, da so ukrepi koristili gospodarskim dejavnostim, prenesenim na banko Nea Proton Bank.
It also referred to the governing structure of the HFSF.
Obstoj pomoči pri pokritju likvidnostne vrzeli banke Nea Proton Bank (ukrep NP1)
As regards the intervention of the HFSF in the Bank’s management, the HFSF noted that it would respect the Bank’s autonomy and not interfere with its day-to-day management given that its role is limited to that laid down in the HFSF Law.
Komisija je že v uvodnih izjavah 31 do 37 sklepa o začetku postopka za banko Nea Proton ugotovila, da ukrep NP1, tj. posredovanje iz sheme sklada HDIGF za reševanje in sklada HFSF za pokritje likvidnostne vrzeli, pomeni državno pomoč v smislu člena 107(1) Pogodbe.
It stated that there would not be any State interference or coordination and that the decisions of the Bank regarding the lending process (inter alia on collateral, pricing and solvency of borrowers) would be taken on the basis of commercial criteria.
V uvodni izjavi 38 navedenega sklepa je Komisija menila, da je banka Nea Proton Bank gospodarska upravičenka zadevnega ukrepa, saj vključuje gospodarske dejavnosti banke Proton Bank, ki zaradi prejete pomoči obstaja še naprej.
The HFSF pointed out that the HFSF Law and the pre-subscription agreement set appropriate safeguards in order to prevent existing private shareholders from excessive risk-taking.
Obstoj pomoči pri vložku začetnega delniškega kapitala sklada HFSF in vložku dodatnega delniškega kapitala sklada HFSF v letu 2012 (ukrep NP2)
It pointed to elements such as (i) the appointment of HFSF representatives as independent non-executive members of the Board of Directors of the Bank and their presence at committees, (ii) the HFSF carrying out due diligence in the Bank and (iii) the fact that, after the final recapitalisation, its voting rights would be restricted only for as long as the Bank complied with the terms of the restructuring plan.
Komisija je že v uvodnih izjavah 41 do 43 sklepa o začetku postopka za banko Nea Proton ugotovila, da kapitalski vložek sklada HFSF v višini 250 milijonov EUR in dodatni kapitalski vložki, predvideni ob sprejemanju navedenega sklepa, v skupnem znesku 300 milijonov EUR, pomenijo državno pomoč v smislu člena 107(1) Pogodbe.
Regarding the necessity of the first bridge recapitalisation and specifically regarding the level of the remuneration of aid, the HFSF stated that the remuneration had been agreed with the representatives of the Commission, the ECB and the IMF.
Kot je bilo navedeno v uvodni izjavi 93 tega sklepa, je sklad HFSF od morebitnih dodatnih 300 milijonov EUR v kapitalu končno prispeval 265 milijonov EUR v letu 2012, s čimer se znesek skupne pomoč v obliki dokapitalizacije v letih 2011 in 2012 poveča na 515 milijonov EUR (ukrep NP2).
That agreed level took into account that the first bridge recapitalisation would be converted into a permanent recapitalisation before 30 September 2012, a deadline which was set in March 2012 in the MEFP between the Commission, the ECB and the IMF and Greece.
Obstoj pomoči pri kapitalskem vložku sklada HFSF v banko Nea Proton Bank pred njeno prodajo skupini (NP3)
Regarding the proportionality of the first bridge recapitalisation, the HFSF noted that the measures it adopted, such as those described in recital 165 of the present decision, are sufficient safeguards in view of the large amounts of aid received and the protracted rescue period.
Komisija meni, da kapitalski vložek v višini 395 milijonov EUR, ki ga je sklad HFSF dodelil banki Nea Proton Bank pred njeno prodajo skupini, pomeni državno pomoč v smislu člena 107(1) Pogodbe.
Moreover, the HFSF stated that there are appropriate measures in place in order to ensure that banks in which the HFSF participates do not share commercially sensitive information between them.
Kapitalski vložek je zagotovil sklad HFSF, tj. subjekt, ki ga je ustanovila in ga financira Grčija za podporo bankam in je bil torej ustanovljen z državnimi sredstvi.
Such measures include the appointment of different HFSF representatives to those banks, the mandates addressed to those representatives which specifically safeguard against the flow of information from one representative to another and clear internal instructions to those officers not to transmit commercially sensitive information of the banks.
Poleg tega je ukrep po naravi izbiren, saj je upravičenka kapitalskega vložka samo banka Nea Proton Bank.
Moreover, the HFSF stated that it does not exercise its rights in relation to the banks in a manner which may prevent, restrict, distort or significantly lessen or impede effective competition.
Posredovanje zagotavlja banki Nea Proton Bank tudi jasno prednost, saj ji omogoča nadaljevanje bančnega poslovanja.
Lastly, the HFSF pointed out that the members of its Board of Directors and its employees are subject to strict confidentiality rules and fiduciary duties and are bound by provisions concerning professional secrecy with regards to its affairs.
Banka Nea Proton Bank, ki je imela globoko negativni kapital, bi šla brez kapitalskega vložka v stečaj.
COMMENTS FROM GREECE ON THE FORMAL INVESTIGATION PROCEDURE REGARDING NEA PROTON BANK
V takšnih okoliščinah banke Nea Proton Bank ne bi bilo mogoče prodati in vključiti v večji subjekt.
On 5 September 2012, Greece submitted comments which had been prepared by the Bank of Greece and the HFSF on the Nea Proton Opening Decision.
Poleg tega dokapitalizacija ni skladna z načelom vlagatelja v tržnem gospodarstvu.
The Bank of Greece observed that Nea Proton Bank, as an interim credit institution owned by the HFSF, could not provide a longer term business plan on a stand-alone basis.
Nasprotno, dokapitalizacija v višini 395 milijonov EUR je omogočila prodajo banke Nea Proton Bank za ceno enega eura.
Moreover, the Bank of Greece noted that it is closely following the implementation of the business plan prepared by the HFSF for Nea Proton Bank and submitted to the Commission in order to ensure that Nea Proton Bank could be sold within the period laid down by law.
Zasebni vlagatelj se ne bi odločil za dokapitalizacijo in bi pustil, da gre banka Nea Proton Bank v stečaj, s čimer bi bilo prihranjenih 395 milijonov EUR.
Regarding the profitability growth rate, the Bank of Greece pointed out that the biggest part of the growth was anticipated to occur during 2013 (when net interest income was expected to rise to EUR 55,3 million, compared to EUR 22,7 million for 2012), would stem mainly from the reduction of total interest expenses and would be the result of two factors:
Banka Nea Proton Bank konkurira drugim bankam, tudi odvisnim podjetjem tujih bank, ki so dejavne v Grčiji ali morebiti zainteresirane za vstop na grški trg.
a roll-over of term deposits that used to bear high yields at better terms and a reduction by 30 % of the total outstanding amount of deposits during the first half of 2012.
Zato kapitalski vložek vpliva na trgovino med državami članicami in morda izkrivlja konkurenco.
Moreover, the Bank of Greece stressed the fact that from 2013 onwards net interest income figures would move quite smoothly and would raise no doubts about the ability of Nea Proton Bank to meet the target.
Komisija zato ugotavlja, da kapitalski vložek v višini 395 milijonov EUR v banko Nea Proton Bank pomeni državno pomoč v smislu člena 107(1) Pogodbe.
Regarding the necessity of the measures in favour of Nea Proton Bank, the HFSF noted that the Bank of Greece is the pertinent authority to decide on any resolution measure and that the HFSF injected the minimum capital required for regulatory purposes.
Upravičenka ukrepa NP3
Regarding the restoration of long-term viability of Nea Proton Bank, the HFSF referred to the resolution framework under which the HFSF had to sell Nea Proton Bank within two years and agreed with the Commission that Nea Proton Bank could be a part of larger and viable entity.
Kot je bilo pojasnjeno že v uvodni izjavi 188, Komisija banko Nea Proton Bank šteje za upravičenko kapitalskega vložka v višini 395 milijonov EUR, ker ji je pomoč omogočila nadaljevanje gospodarskih dejavnosti v skupini.
Although the restructuring plan for Nea Proton Bank was based on a ‘stand-alone basis’ model, the HFSF explained that its objective was to facilitate the sale of that bank by improving its attractiveness to investors and its financial results.
Pri vprašanju, ali prodaja banke Nea Proton Bank vključuje državno pomoč skupini v skladu s točko 49 Sporočila o bančništvu iz leta 2008, mora Komisija oceniti, ali so izpolnjene nekatere zahteve.
The HFSF commented that the capital injections not only allowed Nea Proton Bank to respect the minimum capital adequacy ratio but also improved its financial position and its attractiveness for any future merger with other small banks.
Zlasti mora proučiti, ali:
The HFSF also noted that the additional capital injection had been needed to cover impairment losses related to the PSI programme and the increased provision charges for loans.
je bil postopek prodaje odprt in nediskriminacijski;
The HFSF observed that Nea Proton Bank had improved its cost of funding and the loyalty of deposits.
Skupina je pridobila delnice banke Nea Proton Bank, ker je predložila edino veljavno ponudbo v nediskriminacijskem razpisnem postopku, ki je bil odprt za druge banke in finančne institucije.
Nea Proton Bank’s reliance on the Eurosystem fell during 2012 and it had improved its liquidity position.
Finančni svetovalec sklada HFSF je stopil v stik s številnimi bankami, finančnimi institucijami in sponzorji, vendar so samo štirje izrazili zanimanje za nakup banke Nea Proton Bank, pri čemer sta le dva, skupina in hedge sklad [114], predložila končni ponudbi.
The additional capital injection had helped to reduce interest rates on deposits and to improve interest rate margins.
Ponudba skupine je bila edina, ki je bila skladna s pismom o postopku sklada HFSF.
Nea Proton Bank had already re-priced some of its loan portfolio, using risk-based pricing with interest rates well above the cost of funding.
Komisija meni, da je bil razpis odprt in nediskriminacijski, saj je finančni svetovalec stopil v stik s številnimi bankami ter vnaprej določil zahteve in finančni okvir, ki so jih morale izpolnjevati ponudbe, da bi bile veljavne.
Moreover, the planned growth rate of the net interest income would occur with a conservative expansion in the corporate market segment and by enhancing portfolio quality.
Komisija zato ugotavlja, da ji takšen razpisni postopek omogoča, da lahko izključi obstoj pomoči kupcu.
The HFSF observed that in 2012 Nea Proton Bank had significantly reduced its operating costs, that its two only subsidiaries would cease operations, that its participation in insurance brokers was being greatly reduced and that its proprietary trading activities would end.
Skupina je plačala vložek enega eura, sklad HFSF pa se je zavezal, da bo pred prodajo dokapitaliziral banko Nea Proton Bank.
Finally, the HFSF noted that distortions of competition would be limited given the small share of Nea Proton Bank in total banking assets in Greece and the fact that it was not considering aggressive deposit-taking.
Negativna cena (to pomeni upoštevanje dokapitalizacije banke Nea Proton Bank tik pred prodajo) ne izključuje možnosti, da izraža prodajna cena tržno vrednost podjetja [115], ker je bil neto lastniški kapital banke Nea Proton Bank jasno negativen in je bilo pričakovati, da bo imela banka še naprej izgubo.
COMMENTS FROM GREECE ON THE FORMAL INVESTIGATION PROCEDURE REGARDING NEW TT BANK
Komisija nima razlogov za domnevo, da ponudba in plačana cena ne izražata tržne cene podjetja.
On 19 July 2013, the Ministry of Finance submitted comments on the New TT Opening Decision.
Zato Komisija v skladu s točko 49 Sporočila o bančništvu iz leta 2008, točko 20 Sporočila o prestrukturiranju in svojo prakso odločanja [116] ugotavlja, da je bila prodajna cena tržna in da se lahko pomoč skupini izključi.
Regarding the necessity of measure NTT1, the Ministry of Finance added that the exact value of the assets and liabilities that were transferred to New TT Bank was defined based on the external auditors’ report in accordance with Article 63E, paragraph 6, of Law 3601/2007.
Sklepna ugotovitev o obstoju in skupnem znesku prejete pomoči
Regarding the necessity of measure NTT2, the Ministry of Finance commented that the Second Adjustment Programme for Greece (second Review-May 2013) required the sale of New TT Bank to a third party by 15 July 2013.
Komisija na podlagi uvodnih izjav 182 do 190 meni, da ukrepi Pr1, Pr2 in Pr3 ter NP1, NP2 in NP3 izpolnjujejo pogoje iz člena 107(1) Pogodbe in pomenijo državno pomoč.
Regarding the remuneration of measures NTT1 and NTT2, the Ministry of Finance noted that the HFSF, which fills the funding gap until 31 December 2013 instead of the HDIGF, obtains a preferential claim ahead of other unsecured creditors in case of the liquidation of the assets that remained in the ownership of TT Bank and that only the claims of employees to receive 50 % of their compensation rank before the HFSF’s claim.
V zvezi z ukrepi Pr1, Pr2 in Pr3 Komisija ugotavlja, da se lahko šteje, da je njihova upravičenka tudi banka Nea Proton Bank, ki vključuje dejavnosti, ki prispevajo k nadaljevanju dejavnosti banke Proton Bank, saj so bile pozneje prenesene na banko Nea Proton Bank.