natgillin/translations-raw huggingface dataset:
The EUR 224,96 million capital injection by the Greek State into TT Bank (measure TT) was granted under the recapitalisation measure forming part of the Greek Banks Support Scheme [123].
Banka New TT Bank preneha obstajati kot samostojni konkurent.
As the Commission observed in recital 98 of the New TT Opening Decision, New TT Bank harbours the economic activities previously carried out within TT Bank, including T Bank.
Natančneje, racionalizacija mreže podružnic, popolna vključitev banke T Bank in popolna operativna vključitev banke New TT Bank v skupino omejujejo stroške prestrukturiranja na najnižji znesek.
Existence of aid in the financing of the funding gap of New TT Bank (measure NTT1)
V zvezi s porazdelitvijo bremena delničarjev in imetnikov podrejenega dolga je Komisija že v uvodni izjavi 100 sklepa o začetku postopka za banko New TT ugotovila, da delničarji in imetniki podrejenega dolga niso bili preneseni na banko New TT Bank, temveč so ostali v banki TT Bank, torej subjektu v likvidaciji.
In recitals 53 to 57 of the New TT Opening Decision, the Commission has already established that measure NTT1, the intervention by the HFSF to cover the funding gap of New TT Bank, constitutes State aid within the meaning of Article 107(1) of the Treaty.
Meni tudi, da so stroški prestrukturiranja omejeni na najnižji potrebni znesek in da je bila dosežena zadostna porazdelitev bremena.
In recital 54 of that Decision the Commission considered New TT Bank to be the economic beneficiary as New TT Bank harbours the economic activities of TT Bank which continue to exist because of the aid received.
Vendar kot je bilo ugotovljeno že v uvodni izjavi 251, je zaradi nevračila pomoči potrebno temeljito prestrukturiranje v smislu ukrepov za uspešnost poslovanja in ukrepov za omejitev izkrivljanja konkurence.
Existence of aid in the initial share capital injection (measure NTT2)
V zvezi z zneskom prejete pomoči je Komisija v uvodni izjavi 104 sklepa o začetku postopka za banko New TT opozorila, da je prejela banka New TT Bank 4,6 milijarde EUR pomoči (ukrepa NTT1 in NTT2), kar pomeni več kot 70 odstotkov tveganju prilagojene aktive banke TT Bank in več kot 90 odstotkov tveganju prilagojene aktive banke New TT Bank.
In recitals 49 to 52 of the New TT Opening Decision, the Commission has already established that measure NTT2, the initial share capital injection by the HFSF amounting to EUR 500 million in favour of New TT Bank, constitutes State aid to New TT Bank within the meaning of Article 107(1) of the Treaty.
Komisija je še opozorila, da je banka TT Bank (tj. pravna oseba, ki je pred tem opravljala dejavnosti, ki so bile vključene v banko New TT Bank) pred tem prejela pomoč v okviru programa pomoči grškim bankam [129], saj je prejela prvi kapitalski vložek v višini 224,96 milijona EUR v obliki prednostnih delnic (ukrep TT), kar je bilo enako približno 2,9 odstotka njene tveganju prilagojene aktive v zadevnem času.
Existence of aid to the Bank as the acquirer of New TT Bank
Kar zadeva reševanje banke T Bank, so bile njene dejavnosti prenesene na banko TT Bank, za kar je prejela pomoč za reševanje v višini približno 678 milijonov EUR (ukrep T), kar je bilo enako 37,7 odstotka tveganju prilagojene aktive banke T Bank na referenčni datum združitve (31. marec 2011).
The Bank acquired the shares in New TT Bank in the framework of an open and non-discriminatory tender process.
Zaradi teh zneskov in nevračila pomoči je potrebno temeljito prestrukturiranje.
According to information received from the Greek authorities on 15 July 2013, a financial advisor contacted a large number of foreign and Greek banks and investors and only the four largest Greek banks submitted final offers.
Po drugi strani pa je Komisija v uvodni izjavi 104 sklepa o začetku postopka za banko New TT opozorila na okoliščine, v katerih je bila pomoč dodeljena.
The fact that the financial advisor contacted a large number of banks allows the Commission to conclude that the tender process was open and non-discriminatory.
Natančneje, zdi se, da razlog za precejšnji del izgub banke TT Bank v zadnjih letih niso tvegane dejavnosti, ampak lastništvo grških državnih obveznic.
More precisely, the Bank agreed to pay the HFSF a total of EUR 681 million in the form of newly issued ordinary shares.
Zato se zdi, da pomoč nekoliko izkrivlja konkurenco.
The second-highest offer was a cash offer of EUR 500 million.
Vendar je Komisija ugotovila, da je imela banka TT Bank sorazmerno s svojo velikostjo veliko več grških državnih obveznic kot druge grške banke, kar kaže na neustrezno tveganje.
It was therefore 26,58 % lower than the offer of the Bank.
Kot je bilo navedeno, je banka New TT Bank prenehala obstajati kot samostojni konkurent, ki določa svojo politiko samostojno.
The second-highest offer therefore did not comply with the requirements of the Bank of Greece.
V zvezi s trgom, na katerem je poslovala banka New TT Bank, je Komisija v uvodni izjavi 106 sklepa o začetku postopka za banko New TT poudarila, da je banka TT Bank srednje velika grška banka (približno 6-odstotni depozitni delež) in so bila zato sredstva in obveznosti banke TT Bank, ki so bila prenesena na banko New TT Bank, razmeroma majhna glede na velikost grškega bančnega sistema.
It should also be noted that under the sale contract the HFSF received 1418,75 million new ordinary shares of the Bank at the offer price of EUR 0,48 each [124].
Zato je sklenila, da se kljub izredno velikemu znesku pomoči lahko šteje, da je izkrivljanje konkurence, ki ga je povzročila pomoč banki New TT Bank, precej omejeno.
Conclusion on the existence of aid
Precejšnji del ukrepov pomoči NTT1 in NTT2 je bil potreben zaradi odpisa dolga državi (v obliki programa PSI) ter izredno dolgotrajne recesije, in ne zaradi neustrezne posojilne prakse.
On the basis of the foregoing, the Commission considers that measures T, TT, NTT1 and NTT2 all constitute State aid.
Poleg tega je bil obseg dejavnosti banke New TT Bank majhen, prodajni postopek odprt, pregleden in nediskriminacijski, banka New TT Bank pa bo prenehala obstajati kot samostojni konkurent.
Regarding measure T, the Commission concludes that the aid benefited the activities of T Bank as they were transferred to TT Bank and later to New TT Bank.
Zato Komisija ugotavlja, da kljub velikemu znesku pomoči in neustreznemu vračilu dodeljene državne pomoči ne prihaja do neupravičenega izkrivljanja konkurence.
Regarding measure TT, the Commission concludes that it benefited the activities of TT Bank which were transferred to New TT Bank.
Sklepna ugotovitev o združljivosti ukrepov pomoči T, TT, NTT1 in NTT2 s Sporočilom o prestrukturiranju
The beneficiary of measures NTT1 and NTT2 is New TT Bank.
Komisija ugotavlja, da prodaja New TT Bank skupini in s tem povezano prestrukturiranje zagotavljata, da banka New TT Bank dolgoročno uspešno posluje, da se pomoč omeji na najmanjši potrebni znesek in ne prihaja do neupravičenega izkrivljanja konkurence.
Therefore, the Commission concludes that the economic activities of T Bank, as they were harboured in TT Bank and later in New TT Bank, have benefited from recapitalisation aid amounting to EUR 677 million while the activities carried out by TT Bank harboured in New TT Bank have benefited from State aid in the form of capital support of EUR 4457,96 million (measures TT, NTT1 and NTT2).
Vsi ukrepi pomoči iz preglednice 8 se morajo razglasiti za združljive z notranjim trgom.
Table 10
OCENA POMOČI, DODELJENE SKUPINI
Overview of the total aid received by T Bank, TT Bank and New TT Bank
OBSTOJ IN ZNESEK POMOČI
Financing of funding gap from T to TT
Državna likvidnostna podpora, dodeljena na podlagi jamstva, in ukrepi državnih obligacijskih posojil (ukrep L1)
TT Bank’s activities
Komisija je v odločbah o odobritvi in podaljšanju programa pomoči grškim bankam [131] že ugotovila, da je likvidnostna podpora, dodeljena v okviru programa, pomoč.
New TT Bank’s activities
Državna dokapitalizacija, dodeljena v okviru sheme dokapitalizacije (ukrep A)
Financing of funding gap from TT Bank to New TT Bank
Komisija je v odločbi z dne 19. novembra 2008 o programu pomoči grškim bankam že ugotovila, da bodo sredstva za dokapitalizacijo, dodeljena v okviru ukrepa dokapitalizacije v navedenem programu, pomenila pomoč.
As explained in recitals 199 and 200, the legal basis for the assessment of aid measures to Greek banks should, at present, be Article 107(3)(b) of the Treaty.
Skupina je prejela 950 milijonov EUR v obliki prednostnih delnic, kar je enako 2 odstotkoma tveganju prilagojene aktive skupine [132].
As explained in recital 201, in order for an aid to be compatible under Article 107(3)(b) of the Treaty it must comply with the general criteria for compatibility:
Grčija je leta 2010 uvedla več sprememb tehničnih parametrov navedenih prednostnih delnic.
appropriateness, necessity and proportionality.
Glede na to, da se je s temi spremembami zvišalo nadomestilo državi, saj se kupon vsako leto zviša za 2 %, če se prednostne delnice ne odkupijo v petih letih, Komisija ugotavlja, da spremembe tehničnih parametrov skupini ne zagotavljajo nobene prednosti in zato ne vključujejo dodatne državne pomoči.
The Recapitalisation Communication [125] sets out further guidance on the level of remuneration required for State capital injections.
Obstoj pomoči pri izredni likvidnostni pomoči z državnim jamstvom (ukrep L2)
Finally, the Commission has explained in the Restructuring Communication [126] how it will assess restructuring plans.
Komisija je v točki 51 Sporočila o bančništvu iz leta 2008 pojasnila, da zagotovitev sredstev centralnih bank finančnim institucijam ne pomeni pomoči, če so izpolnjeni štirje kumulativni pogoji v zvezi s plačilno sposobnostjo finančne institucije, njenim zavarovanjem, obrestno mero, zaračunano finančni instituciji, in neobstojem posrednega jamstva države.
In its assessment of the restructuring plan of the Bank under the Restructuring Communication, the Commission will take into account all the measures listed in Table 8.
Izredna likvidnostna pomoč banki z državnim jamstvom pomeni pomoč, saj ne izpolnjuje navedenih kumulativnih pogojev, in sicer predvsem zaradi dejstva, da je podprta z državnim jamstvom in dodeljena v povezavi z drugimi podpornimi ukrepi.
Compatibility of the aid measures with the 2008 Banking Communication and the Recapitalisation Communication
Izredna likvidnostna pomoč z državnim jamstvom izpolnjuje pogoje iz člena 107(1) Pogodbe.
Compatibility of measure T with the 2008 Banking Communication and the Recapitalisation Communication
Ker ta ukrep vključuje državno jamstvo v korist grške centralne banke, bo vse izgube krila država.
Regarding measure T, in its T Bank Decision the Commission found that the intervention fulfils the requirements of Article 107(3)(b) of the Treaty and decided it was compatible with the internal market for reasons of financial stability for a period of six months as from the date of adoption of that Decision.
Zato ukrep vključuje državna sredstva.
The Greek authorities did not submit an updated restructuring plan for TT Bank which took into account the integration of T Bank’s activities into TT Bank before the end of that six-month period.
Izredna likvidnostna pomoč bankam omogoča, da dobijo sredstva, kadar nimajo dostopa do trga medbančnih posojil in rednih operacij refinanciranja Eurosistema.
However, in recital 83 of the New TT Opening Decision the Commission considered that omission was understandable as a decision had been taken in the meanwhile that TT Bank would be resolved.
Zato izredna likvidnostna pomoč z državnim jamstvom skupini zagotavlja prednost.
As the Greek authorities submitted a restructuring plan for New TT Bank in January 2013 and an updated one in March 2013, both of which deal with the activities transferred from T Bank to TT Bank, the Commission, in its New TT Opening Decision, approved measure T provisionally as rescue aid until a final decision was taken on measures T, TT, NTT1 and NTT2.
Ukrep je selektiven, saj je izredna likvidnostna pomoč omejena na bančni sektor.
Compatibility of measure TT with the 2008 Banking Communication
Poleg tega izredna likvidnostna pomoč z državnim jamstvom izkrivlja konkurenco, saj skupini omogoča, da še naprej deluje na trgu, ter preprečuje njen propad in izstop s trga.
In its Decision of 19 November 2008 [127] the Commission has already concluded that measure TT, which was granted in May 2009 under the recapitalisation measure which is part of the Greek Banks Support Scheme, is compatible rescue aid under the 2008 Banking Communication.
Prednost, zagotovljena skupini, vpliva na trgovino med državami članicami, saj je skupina dejavna v drugih državah članicah in finančne institucije iz drugih držav članic delujejo ali bi bile lahko zainteresirane za delovanje v Grčiji.
The decision of 19 November 2008 did not refer to the Recapitalisation Communication, which had not been adopted at that time.
Izredna likvidnostna pomoč z državnim jamstvom (ukrep L2) pomeni državno pomoč.
Compatibility of measures NTT1 and NTT2 with the 2008 Banking Communication and the Recapitalisation Communication
Znesek izredne likvidnostne pomoči z državnim jamstvom se je s časom spreminjal.
The Commission has already temporarily approved measures NTT1 and NTT2 as rescue aid in the New TT Opening Decision.
31. decembra 2012 je znašal približno 12 milijard EUR.
Compatibility of aid measures T, TT, NTT1 and NTT2 with the Restructuring Communication
Obstoj pomoči pri ukrepih, dodeljenih iz sklada HFSF
Lack of appropriate remuneration of the aid: to be taken into account in the assessment under the Restructuring Communication
Prva premostitvena dokapitalizacija (ukrep B1)
In recital 45 of the T Bank Decision, the Commission noted that the HDIGF and the HFSF will probably not recover any money and that the financing of the funding gap from T Bank to TT Bank is therefore similar to a grant.
Komisija je v oddelku 5.1 sklepa o začetku postopka za skupino Eurobank že ugotovila, da je prva premostitvena dokapitalizacija državna pomoč.
Moreover, as concluded in recital 101 of the New TT Opening Decision, the HFSF could expect to recover only part of its initial share capital injection of EUR 500 million (measure NTT2).
Prejeti kapital je znašal 3970 milijonov EUR.
Moreover, the Commission observed that there will be no remuneration for the HFSF covering the funding gap from TT Bank to New TT Bank (measure NTT1) and there is a very small likelihood that the HFSF will recover much of the EUR 3,7 billion.
Druga premostitvena dokapitalizacija (ukrep B2)
Finally, the Commission notes that the State will most probably not recover any amount in respect of measure TT since its equity claims, related to the preference shares issued in May 2009, remained in TT Bank, which was put into liquidation.
Ukrep B2 je bil izveden s sredstvi iz sklada HFSF, ki vključujejo državna sredstva, kot je pojasnjeno v uvodni izjavi 47 sklepa o začetku postopka za skupino Eurobank.
As indicated in recitals 77 and 102 of the New TT Opening Decision, the absence of remuneration triggers the need for in-depth restructuring, both in terms of viability measures and in terms of measures to limit distortions of competition.
Kar zadeva obstoj prednosti, se je delež kapitala skupine zaradi ukrepa B2 povečal v taki meri, da je lahko skupina še naprej delovala na trgu in imela dostop do financiranja iz Eurosistema.
Long-term viability of New TT Bank’s activity through sale
Poleg tega nadomestilo ukrepa B2 sestavljajo natečene obresti na obveznice instrumenta EFSF in dodatna provizija v višini 1 %.
In section 3.2.4.1 of the New TT Opening Decision, the Commission raised serious doubts as to whether New TT Bank could restore its long-term viability on a stand-alone basis and whether New TT Bank could achieve the planned growth of income.
Ker je to nadomestilo občutno nižje od nadomestil za podobne kapitalske instrumente na trgu, skupina pod takimi pogoji na trgu nedvomno ne bi mogla zbrati kapitala.
Moreover, it pointed out that New TT Bank had taken only a limited number of measures to generate profits and that there was a lack of measures on the part of New TT Bank to reduce personnel costs and to rationalise the branch network.
Zato je ukrep B2 skupini zagotovil prednost iz državnih sredstev.
It also referred to the synergies that could be achieved by the integration of New TT Bank into a large financial entity.
Ukrep je selektiven, saj je bil na voljo samo skupini.
New TT Bank ceases to exist as an autonomous competitor.
Komisija meni, da ukrep B2 pomeni državno pomoč.
The operational merger between New TT Bank and the Bank was completed by 14 April 2014.
Nacionalni organi so ga priglasili kot pomoč.
The ‘Hellenic Postbank’-branded branch network will be reduced (the Bank intends to keep the brand ‘Hellenic Postbank’ for certain branches, while the ‘T-bank’ brand will not be kept and the ‘T-bank’ branch network will be nearly entirely closed) in combination with the full operational integration of back office and other headquarter functions within the Bank.
Prejeti kapital je znašal 1341 milijonov EUR.
The Commission concludes that the restructuring plan ensures that an in-depth restructuring as required by the insufficient remuneration will be achieved.
Pismo o zavezi (ukrep B3)
The Commission’s concerns expressed in recital 99 of the New TT Opening Decision, as to whether the restructuring costs were inflated given the restructuring of New TT Bank on a stand-alone basis, were addressed by the Voluntary Exit Scheme [128], which was implemented by New TT Bank on a stand-alone basis in July 2013, and by the sale of New TT Bank to the Bank.
Z ukrepom B3 se je sklad HFSF zavezal, da bo zagotovil dodatni kapital, potreben za dokončanje dokapitalizacije skupine do zneska, ki ga je grška centralna banka zahtevala v okviru testa izjemnih situacij iz leta 2012.
More precisely, the rationalisation of the branch network, the full integration of T Bank and the full operational integration of New TT Bank into the Bank limit the restructuring costs to the minimum.
Okoliščine, v katerih lahko sklad HFSF dodeli podporo finančnim institucijam, so točno določene in omejene z zakonom.
Concerning burden-sharing of shareholders and subordinated debt holders, the Commission has already established, in recital 100 of the New TT Opening Decision, that the shareholders and subordinated debt holders were not transferred to New TT Bank but have remained in TT Bank, that is to say, the entity in liquidation.
Zato je uporabo navedenih državnih sredstev mogoče pripisati državi.
Therefore, the Commission considers that the restructuring costs are limited to the minimum and that sufficient burden-sharing has been achieved.
Sklad HFSF se je zavezal, da bo zagotovil dodatni kapital v višini do 528 milijonov EUR.
However, as already concluded in recital 251, 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.
Pismo o zavezi je skupini zagotovilo prednost, saj je deponente pomirilo, da bo lahko skupina pridobila celotni znesek potrebnega kapitala, oziroma, da bo sklad HFSF zagotovil kapital, če ga skupina ne bo mogla zbrati na trgu.
Regarding the amount of aid received, the Commission recalls that, in recital 104 of the New TT Opening Decision, it noted that New TT Bank has received EUR 4,6 billion of aid (measures NTT1 and NTT2), which represents more than 70 % of the RWA of TT Bank and more than 90 % of the RWA of New TT Bank.
Ta zaveza je olajšala tudi zbiranje zasebnega kapitala na trgu, saj je vlagatelje pomirila, da bo sklad HFSF zagotovil del kapitala, če ga skupina ne bo mogla pridobiti na trgu.
Further the Commission noted that TT Bank (which is the legal entity which previously performed the activities which were harboured in New TT Bank) had previously received aid under the Greek Banks Support Scheme [129] TT Bank received a first capital injection of EUR 224,96 million in the form of preference shares (measure TT), which was equivalent to 2,9 % of its RWA at that time.
Noben zasebni vlagatelj se ne bi zavezal, dokler ne bi poznal pogojev dokapitalizacije, in takrat skupina ni imela dostopa do kapitalskega trga.
Furthermore, on the resolution of T Bank, the activities of T Bank that were transferred to TT Bank received a resolution aid of approximately EUR 678 million (measure T), which was equivalent to 37,7 % of the RWA of T Bank as at the merger reference date (31 March 2011).
Poleg tega bi lahko ukrep B3 prizadel trgovino med državami članicami in izkrivljal konkurenco, saj skupina deluje na drugih evropskih bančnih trgih in finančne institucije iz drugih držav članic delujejo v Grčiji, zlasti na zavarovalniškem trgu.
Such amounts of aid in combination with the absence of remuneration call for a deep restructuring.
Zato ukrep B3 pomeni pomoč in so ga grški organi 27. decembra 2012 priglasili kot državno pomoč.
On the other hand, in recital 104 of the New TT Opening Decision, the Commission pointed out the circumstances under which the aid was granted.
Vseeno pa poveča prednost za skupino (in s tem izkrivljanje konkurence), saj je ta ukrep trajna dokapitalizacija in ne začasna dokapitalizacija, kot sta ukrepa B1 in B2.
More precisely, a significant part of the losses which TT Bank has incurred in recent years do not seem to stem from risk-taking activities but from the holding of GGBs.
V primerjavi z ukrepom B3, ki je le zaveza in ne dejanska dokapitalizacija, je ukrep B4 zvišal kapitalsko ustreznost skupine in zato prinaša večjo prednost.
The Commission also observed that the high loan losses on lending to households and corporations stem mainly from the exceptionally deep and long recession and not from risky lending.
Komisija ugotavlja, da taka podpora ni bila dodeljena vsem bankam, ki delujejo v Grčiji.
The aid therefore seems to create few distortions of competition.
Komisija v zvezi z izkrivljanjem konkurence in vplivom na trgovino na primer ugotavlja, da je pomoč skupini omogočila poslovanje v drugih državah članicah, kot sta Romunija in Bolgarija.
However, the Commission observed that, proportionally to its size, TT Bank had held far more GGBs than the other banks in Greece, a factor that reflects some inappropriate risk-taking.
Likvidacija skupine bi povzročila prenehanje njenih dejavnosti v tujini prek likvidacije teh dejavnosti ali prodaje podjetij.
As already noted, New TT Bank ceases to exist as an autonomous competitor that determines its policy on a stand-alone basis.
Poleg tega zavarovalniške dejavnosti skupine v Grčiji konkurirajo dejavnostim odvisnih podjetij zavarovalnic iz drugih držav članic.
The restructuring plan of the Bank is based on the assumption of the full integration of New TT Bank, even if the Bank will continue to use the brand ‘Hellenic Postbank’ for some branches and products.
Zato ta ukrep izkrivlja konkurenco in vpliva na trgovino med državami članicami.
Regarding the market on which New TT Bank operated, in recital 106 of the New TT Opening Decision, the Commission pointed out that TT Bank was a medium-sized bank in Greece (approximately 6 % in terms of deposits) and that the assets and liabilities of TT Bank that were transferred into New TT Bank were relatively small compared to the size of the Greek banking system.
Ukrep B4 zato pomeni državno pomoč.
Therefore, it concluded that, despite the exceptionally large aid amount, the distortions of competition caused by the aid to New TT Bank could be considered to be rather limited.
Sklepna ugotovitev o ukrepih B1, B2, B3 in B4
The planned downsizing of the ‘Hellenic Postbank’-branded branch network, with a reduction of approximately 50 branches [130] out of 196, further confirms the assessment in recital 263 that the distortions of competition caused by the aid to New TT Bank could be considered to be rather limited.
Ukrepi B1, B2, B3 in B4 so državna pomoč v smislu člena 107(1) Pogodbe.
Moreover, the activities of New TT Bank were offered to competitors through an open and non-discriminatory auction.
Znesek državne pomoči, vključene v ukrepih B1, B2, B3 in B4, je 5839 milijonov EUR, kar je tudi znesek državne podpore, ki je bil skupini dejansko izplačan iz sklada HFSF.