natgillin/translations-raw huggingface dataset:
Moreover, the HFSF committed to cover the capital needs of the buyer stemming from the transferred activities only up to the minimum amount required by law.
Skladnost ukrepov pomoči s sporočilom o bančništvu iz leta 2008 in sporočilom o dokapitalizaciji
In addition, the integration of the economic activities of FB Bank into a larger entity and the concomitant realisation of synergies, through the rationalisation of FB Bank's branch network, the consolidation of the IT infrastructure and the reduction of funding costs, help limit the restructuring costs to the minimum compared to a scenario where the State would have tried to restore FB Bank's viability on a standalone basis.
Kar zadeva primernost ukrepov PB1 in PB2, Komisija meni, da sta kritje likvidnostne vrzeli ter zaveza kupca za kritje kapitalskih potreb, povezanih s prenesenimi sredstvi, primerna, ker sta omogočila prodajo, zaščitila vlagatelje banke Probank ter ohranila finančno stabilnost.
The equity and the subordinated debt were not transferred to the Bank but remained in FB Bank, the entity in liquidation.
Te dejavnosti ne bi bilo mogoče nadaljevati brez pomoči GSFS, ker je bil lastniški kapital banke Probank ob njenem reševanju negativen.
Hence, the Commission considers that sufficient burden-sharing by shareholders was achieved since the latter are entitled to proceeds from the liquidation only if the proceeds are sufficient to repay first the HFSF, which has a priority claim over other creditors.
V težkih tržnih razmerah, ki so tedaj prevladovale, ne bi nobena banka prevzela portfelja sredstev in obveznosti z negativno vrednostjo, ki bi še poslabšal njen položaj glede kapitalske ustreznosti.
Therefore, given the scarcity of the liquidated assets, the shareholders are unlikely to get their investments back.
Banka Grčije je 10. maja 2013 imenovala komisarja za banko Probank, ki je moral zagotoviti, da bodo sprejeti vsi potrebni ukrepi za zaključek povečanja delniškega kapitala banke Probank.
Measures to limit distortions of competition
Dejstvo, da do reševanja noben zasebni vlagatelj ni predložil končnega zavezujočega predloga za prevzem banke Probank kljub prizadevanjem komisarja, imenovanega za banko Probank, ter večkratnemu podaljšanju roka za povečanje delniškega kapitala banke Probank, podpira ugotovitev, da teh aktivnosti ne bi bilo mogoče nadaljevati brez pomoči iz GSFS.
Regarding measures to limit distortions of competition, point 30 of the Restructuring Communication provides that ‘the Commission takes as a starting point for its assessment of the need for such measures, the size, scale and scope of the activities that the bank in question would have upon implementation of a credible restructuring plan […].
Z ukrepi je bila tako zagotovljena ohranitev finančne stabilnosti v Grčiji.
The nature and form of such measures will depend on two criteria: first, the amount of the aid and the conditions and circumstances under which it was granted and, second, the characteristics of the market or markets on which the beneficiary bank will operate.’
Memorandum o gospodarskih in finančnih politikah iz maja 2013 je določil, da bo v primeru sekundarnih bank [125], ki niso izpolnile svoje kapitalske zahteve, Banka Grčije v dogovoru z GSFS ocenila možnosti za znižanje stroškov davkoplačevalcev na najnižjo možno raven, vključno s postopki nakupa in prevzema ob zagotovljeni zaščiti vlagateljev.
The total aid received in form of capital amounts to EUR 606,97 million (measures FB1, FB4 and FB5), in addition to Greek government securities of EUR 60 million (measure FB2) and State guarantees of EUR 50 million (measure FB3).
Kot je Banka Grčije navedla v svojem sklepu z dne 26. julija 2013 [126], bi preklic dovoljenja banke Probank brez uvedbe ukrepov reševanja vplival na finančno stabilnost.
Measure FB1 corresponded to 3,25 % of the FB Bank's RWA as of 31 December 2008.
Komisija meni, da takšni elementi stabilnosti podpirajo nujnost ukrepov PB1 in PB2.
Measure FB4, the financing of the funding gap from FB Bank to the Bank, corresponded to around 33,44 % of the RWA of FB Bank as of 31 March 2013.
Kar zadeva znesek ukrepa, so grški organi skrbno ocenili likvidnostno vrzel in pri tem upoštevali poročilo o vrednotenju, ki ga je pripravil zakonit revizor.
Measure FB5, by definition, corresponded to 9 % of the transferred RWA of FB Bank to the Bank.
Banka Grčije je v svojem sklepu 12/1/26.7.2013 navedla, da je bil nalog za prenos izbranih sredstev in obveznosti prednostna rešitev, ker je stroške reševanja zmanjšala na najnižjo možno raven.
Such amounts of aid in combination with the absence of remuneration call for a significant reduction in the market presence of the beneficiary.
Obenem lastniški kapital ni bil prenesen na skupino, temveč bo ostal v subjektu v postopku likvidacije.
Regarding the market on which FB Bank operated, the Commission notes that FB Bank was a very small bank (less than 0,5 % share of Greek banks' total assets and a market share of less than 1 % for loans and deposits in Greece) and consequently the assets and liabilities of FB Bank which were transferred into the Bank were small when compared with the size of the Greek banking system.
Delničarji banke Probank bodo zato utrpeli celotno izgubo, strošek njihovega reševanja pa ne zvišuje prispevka GSFS.
Moreover, the activities of FB Bank were offered to competitors through an open auction.
Kot je že bilo predhodno navedeno v uvodni izjavi 238 glede nadomestila pomoči, GSFS najverjetneje ne bo v celoti izterjal prispevanega denarja.
Following its sale, FB Bank ceased to exist as a stand-alone competitor as the transferred activities were fully integrated within the Bank.
Komisija meni, da je to veljalo za banko Probank.
It is concluded that given the small size of the transferred activities, the open sales process, and the full integration of FB Bank's activities into the Bank, there are no undue distortions of competition, despite the very large amount of aid and the absence of remuneration.
Ukrepi so kot pomoč za reševanje torej po višini zneska in obliki nujni za doseganje ciljev omejitve motenj v grškem bančnem sistemu in celotnem gospodarstvu.
Conclusion on the compliance with the Restructuring Communication
Banka Probank ne obstaja več v takšni obliki, kot je obstajala prej.
On the basis of that analysis, it is concluded that the sale of selected assets and liabilities of FB Bank and their integration into the Bank ensure that FB Bank's activities return to long-term viability, that the aid is limited to the minimum necessary and that there are no undue distortions of competition, in line with the Restructuring Communication.
Dejstvo, da pomoč rešuje dejavnosti, ki so bile prenesene na skupino, bi lahko teoretično povzročilo izkrivljanje konkurence.
Conclusion on the compatibility of aid related to FB Bank with the internal market
Vendar je Komisija seznanjena z majhnostjo banke Probank ter s postopkom prodaje, v katerem so imeli konkurenti možnost predložiti ponudbe za izbrana sredstva in obveznosti banke Probank.
All the aid measures listed in Table 10 are thus compatible with the internal market.
Takoj po prenosu gospodarskih dejavnosti banke Probank so bile te popolnoma vključene v skupino in so prenehale obstajati kot ločena gospodarska dejavnost ali konkurent.
ASSESSMENT OF AID RELATED TO PROBANK
Sklep o skladnosti ukrepov PB1 in PB2 s sporočilom o bančništvu in sporočilom o dokapitalizaciji
The Commission first has to assess whether the measures constitute State aid within the meaning of Article 107(1) of the Treaty.
Sklene se, da sta ukrepa PB1 in PB2 primerna in potrebna ter da sta glede na temeljito prestrukturiranje, ki je predvideno za skupino, v katero so bile prenesene gospodarske dejavnosti banke Probank, sorazmerna s predvidenim ciljem v skladu s sporočilom o bančništvu iz leta 2008 in sporočilom o dokapitalizaciji.
Existence of aid in the measures granted in view of the resolution of Probank (measures PB1 and PB2)
Kar zadeva nadomestilo ukrepa PB1, je Komisija v uvodni izjavi 260 ugotovila, da GSFS najverjetneje ne bo v celoti izterjal 562,73 milijona EUR, ki jih je vložil za reševanje banke Probank (ukrep PB1).
The HFSF is an entity set up and financed by Greece to support banks.
Dolgoročna uspešnost dejavnosti banke Probank zaradi njene prodaje
Measures PB1 and PB2 therefore involve State resources.
Države članice bi lahko zato spodbujale izstop neuspešnih subjektov, pri čemer mora postopek izstopa potekati v primernem časovnem okviru, ki ohranja finančno stabilnost.
Measures PB1 and PB2 are also selective in nature, since they only benefit Probank's activities.
Vendar banka Probank samostojno ni bila sposobna uspešnega poslovanja in začel se je postopek njene likvidacije.
Moreover measures PB1 and PB2 provide Probank's activities with a clear advantage by keeping them alive.
Zaradi prenosa dejavnosti banke Probank na skupino je mogoče ponovno vzpostaviti njihovo dolgoročno uspešnost izvajanja.
The transfer order in that case is a sale ‘en bloc’ as, while the equity will not be transferred, the key productive banking assets will be transferred (branches, deposits and loans).
Poleg tega je zaradi dejstva, da so bile dejavnosti banke Probank popolnoma vključene [127] v skupino ter so prenehale obstajati kot samostojen subjekt, potrebno temeljito prestrukturiranje, ki se zahteva zaradi nezadostnega nadomestila državne pomoči.
Measures PB1 and PB2 do not comply with the MEIP.
Kot je pojasnjeno v uvodni izjavi 258, izbrani način reševanja banke Probank zagotavlja omejevanje stroškov prestrukturiranja na najnižjo možno raven.
In fact, the HFSF has no prospect of making a profit on its contribution: in exchange for its contribution, it did not receive any claim against the Bank but only a claim against the entity under liquidation, that is to say Probank [122].
Obenem se je GSFS zavezal h kritju kapitalskih potreb kupca, ki izhajajo iz prenesenih sredstev, samo do minimalnega zneska, ki ga zahteva zakon.
Therefore, the HFSF will probably not fully recover the money contributed.
Obenem vključitev gospodarskih dejavnosti banke Probank v večji subjekt ter spremljajoče uresničenje sinergij, zlasti prek racionalizacije mreže podružnic banke Probank, konsolidacije infrastrukture IT ter zmanjšanja stroškov financiranja, pomagata omejevati stroške prestrukturiranja na najnižjo možno raven v primerjavi s scenarijem, ko bi država skušala ponovno vzpostaviti samostojno uspešno poslovanje banke Probank.
That selective advantage which measures PB1 and PB2 provide distorts competition by keeping one banking activity alive, allowing it to operate on the market and to compete with other banks which are active in Greece or potentially interested in entering the Greek market.
Lastniški kapital in podrejeni dolg nista bila prenesena na skupino, temveč sta ostala v subjektu v likvidaciji.
Hence, measures PB1 and PB2 have an effect on trade between Member States and potentially distort competition.
Kar zadeva prejeti znesek pomoči, je skupna pomoč, prejeta v obliki kapitala, znašala [742,7 do 842,7] milijona EUR (ukrepi PB1 in PB2).
It is therefore concluded that the coverage by the HFSF of the funding gap from Probank to the Bank, for an amount of EUR 562,73 million and the commitment of the HFSF to cover the capital needs related to the transferred assets, which may amount to EUR [180 to 280] million, constitute State aid within the meaning of Article 107(1) of the Treaty.
Zaradi teh zneskov pomoči in neizplačevanja nadomestila je potrebno precejšnje zmanjšanje prisotnosti upravičenke na trgu.
Beneficiary of measures PB1 and PB2
Glede trga, na katerem je delovala banka Probank, Komisija ugotavlja, da je bila banka Probank zelo majhna banka (s približno 1-odstotnim deležem skupnih sredstev grških bank in približno 1-odstotnim tržnim deležem za posojila ter 2-odstotnim deležem za vloge), zato so bili tudi sredstva in obveznosti banke Probank, ki so bili preneseni na skupino, majhni v primerjavi z velikostjo grškega bančnega sistema.
Probank's activities are the beneficiary of measures PB1 and PB2, as the latter allowed the continuation of those activities within the Bank.
Poleg tega so bile dejavnosti banke Probank ponujene konkurentom na javni dražbi.
As to whether the sale of Probank's activities constitutes State aid to the Bank, in line with point 49 of the 2008 Banking Communication the Commission needs to assess whether certain requirements are met.
Po prodaji banke Probank je ta prenehala obstajati kot samostojni konkurent, saj so bile prenesene dejavnosti popolnoma vključene v skupino.
The Bank acquired the assets and liabilities of Probank because it submitted the preferred offer in the framework of a non-discriminatory tender procedure open to other banks.
Sklene se, da glede na majhnost prenesenih dejavnosti, odprt prodajni postopek in popolno vključitev dejavnosti banke Probank v skupino kljub zelo velikemu znesku in neizplačevanju nadomestila ne prihaja do neupravičenega izkrivljanja konkurence.
The Bank of Greece decided to contact only the four largest banks operating in Greece, of which only the Bank and one other bank submitted offers.
Na podlagi te analize Komisija ugotavlja, da prodaja izbranih sredstev in obveznosti banke Probank ter njihova vključitev v skupino zagotavljata ponovno vzpostavitev dolgoročno uspešnega izvajanja dejavnosti banke Probank, da je pomoč omejena na najmanjšo potrebno raven ter da v skladu s sporočilom o prestrukturiranju ne prihaja do neupravičenega izkrivljanja konkurence.
The Bank was the preferred bidder in terms of price and expected synergies.
Sklepna ugotovitev o skladnosti pomoči v zvezi z banko Probank z notranjim trgom
The Bank of Greece only contacted four banks.
Vsi ukrepi pomoči iz preglednice 11 so zato združljivi z notranjim trgom.
The limited set of buyers contacted cannot exclude that the tender was open given the lack of other banks operating in Greece with sufficient size to absorb the tendered activities and with adequate capital at the time of resolution.
OCENA POMOČI, DODELJENE SKUPINI
In addition, until the resolution of Probank, no foreign credit and financial institution had submitted a valid binding proposal to acquire Probank despite the repeated postponement of the deadline.
OBSTOJ IN ZNESEK POMOČI
At the time of the resolution, the interest shown by foreign credit and financial institutions in engaging in banking activities in Greece was very limited.
Komisija mora ugotoviti obstoj državne pomoči v smislu člena 107(1) Pogodbe.
Moreover, the Bank of Greece had determined in advance the portfolio of the assets and liabilities to be transferred and the timetable which the offers had to meet in order to be valid.
Obstoj pomoči pri ukrepih, dodeljenih v okviru programa pomoči grškim bankam (ukrepa L1 in A)
Therefore, the Commission concludes that the sale process was open and non-discriminatory.
Državna likvidnostna podpora, dodeljena na podlagi jamstva, in ukrepi državnih obligacijskih posojil (ukrep L1)
The negative price (that is to say, taking into account the funding gap and the coverage of the aforementioned capital needs) for the assets and liabilities of Probank does not preclude that the sale price reflects the market value of the business [123].
Komisija je v sklepih o odobritvi in podaljšanju programa pomoči grškim bankam [128] že ugotovila, da likvidnostna podpora, odobrena na podlagi programa, pomeni pomoč.
Indeed, the fair value of the assets had been estimated by the Bank of Greece and verified by external auditors.
Državna dokapitalizacija, dodeljena v okviru sheme dokapitalizacije (ukrep A)
On the basis of the above, in line with point 49 of the 2008 Banking Communication, point 20 of the Restructuring Communication and the Commission's decisional practise [124], it is concluded that State aid to the Bank can be excluded.
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.
On the basis of recitals 236 to 240, the Commission considers that measures PB1 and PB2 fulfil the conditions laid down in Article 107(1) of the Treaty and constitute State aid.
Skupina je prejela 1350 milijonov EUR v obliki prednostnih delnic, kar pomeni 2,1 % tveganju prilagojene aktive skupine [129].
Therefore, it is concluded that the activities of Probank have received State aid in the form of capital support of EUR [742,7 to 842,7] million (measures PB1 and PB2), as summarised in Table 11.
Grčija je leta 2010 uvedla več sprememb tehničnih parametrov takšnih prednostnih delnic, v skladu s katerimi se kupon vsako leto zviša za 2 %, če se prednostne delnice ne odkupijo v petih letih.
Table 11
Glede na to, da se je s temi spremembami zvišalo nadomestilo države v primeru, ko prednostne delnice v petih letih niso bile odkupljene ali pretvorjene, Komisija ugotavlja, da spremembe tehničnih parametrov skupini ne zagotavljajo nobene prednosti in zato ne vključujejo dodatne državne pomoči.
Overview of the total aid to Probank's activities
Obstoj pomoči pri izredni likvidnostni pomoči z državnim jamstvom (ukrep L2)
Commitment letter to cover the capital needs related to Probank's transferred assets to the Bank
Ker izredna likvidnostna pomoč z državnim jamstvom, odobrena skupini, ne izpolnjuje navedenih štirih kumulativnih pogojev, zlasti ker vključuje jamstvo države in je odobrena v povezavi z drugimi ukrepi podpore, ni mogoče skleniti, da izredna likvidnostna pomoč z državnim jamstvom ne pomeni državne pomoči.
[742,7 to 842,7]
Izredna likvidnostna pomoč z državnim jamstvom izpolnjuje pogoje iz člena 107(1) Pogodbe.
Total capital aid disbursed
Prvič, ker navedeni ukrep vključuje državno jamstvo v korist Banke Grčije, bo vsakršno izgubo nosila država.
As explained in recitals 206 and 207, the legal basis at present for the assessment of aid measures to Greek banks should be Article 107(3)(b) of the Treaty.
Zato ukrep vključuje državna sredstva.
As explained in recital 208, in line with point 15 of the 2008 Banking Communication, 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: appropriateness, necessity and proportionality.
Izredna likvidnostna pomoč z državnim jamstvom omogoča bankam, da pridobijo financiranje v času, ko nimajo dostopa do trga medbančnih posojil in standardnih Eurosistemovih operacij refinanciranja.
In its assessment of the restructuring plan under the Restructuring Communication, the Commission will take into account all measures listed in Table 11.
Izredna likvidnostna pomoč z državnim jamstvom torej skupini zagotavlja prednost.
Compliance of the aid measures under the 2008 Banking Communication and the Recapitalisation Communication
Ker je izredna likvidnostna pomoč z državnim jamstvom omejena na bančni sektor, je ukrep selektiven.
As regards the appropriateness of measures PB1 and PB2, the Commission considers that the coverage of the funding gap and the commitment to cover the capital needs of the buyer related to the transferred assets are appropriate because they allowed a sale, safeguarded the depositors of Probank and thereby safeguarded financial stability.
Ker izredna likvidnostna pomoč z državnim jamstvom skupini omogoča nadaljnje poslovanje na trgu ter preprečuje njen propad in posledični izstop s trga, izkrivlja konkurenco.
Those activities would not have been able to continue without the aid from the HFSF, as Probank had a negative equity at the time of the resolution.
Ker je skupina dejavna v drugih državah članicah in ker finančne institucije iz drugih držav članic delujejo ali bi bile morebiti zainteresirane za delovanje v Grčiji, prednost, zagotovljena skupini, vpliva na trgovino med državami članicami.
In the difficult market conditions which then prevailed, no bank would have acquired a portfolio of assets and liabilities with negative value that would have worsened its capital adequacy position.
Glede na navedeno Komisija meni, da izredna likvidnostna pomoč z državnim jamstvom (ukrep L2) pomeni državno pomoč.
On 10 May 2013, the Bank of Greece appointed a commissioner in Probank, whose task was also to ensure that any necessary measures would be taken for the completion of the share capital increase of Probank.
Znesek izredne likvidnostne pomoči z državnim jamstvom se je s časom spreminjal.
The fact that no private investor submitted a final binding proposal for the acquisition of Probank until the time of the resolution, despite the efforts of the commissioner appointed in Probank and the repeated extension of the deadline for the share capital increase of Probank, supports the finding that those activities would not have been able to continue without the aid received from the HFSF.
31. decembra 2012 je znašal približno 30,9 milijarde EUR.
The measures thereby ensured that financial stability in Greece was maintained.
Obstoj pomoči pri ukrepih, dodeljenih prek GSFS (ukrepi B1, B2 in B3)
The MEFP of May 2013 provided that for those non-core banks [125] which did not meet their capital requirement, the Bank of Greece, in coordination with the HFSF, would assess options to minimise the cost to taxpayers, including Purchase & Assumption procedures, while guaranteeing the security of depositors.
Prva premostitvena dokapitalizacija (ukrep B1)
As the Bank of Greece stated in its decision of 26 July 2013 [126], the withdrawal of Probank's license without the application of resolution measures could have an impact on financial stability.
Komisija je v oddelku 5.1 sklepa o začetku postopka za skupino NBG že ugotovila, da prva premostitvena dokapitalizacija pomeni državno pomoč.
The Commission considers that those financial stability elements support the necessity of measures PB1 and PB2.
Prejeti kapital je znašal 7430 milijonov EUR.
As regards the amount of the measure, the funding gap was carefully assessed by the Greek authorities, taking into account the valuation report prepared by a statutory auditor.
Druga premostitvena dokapitalizacija (ukrep B2)
The Bank of Greece in its decision 12/1/26.7.2013 stated that a transfer order of selected assets and liabilities was the preferred solution as it minimised the resolution cost.
Ukrep B2 je bil izveden s sredstvi GSFS, ki je, kot je bilo pojasnjeno v uvodni izjavi 49 sklepa o začetku postopka za skupino NBG, vključeval državna sredstva.
That decision is also in line with the Second Economic Adjustment Programme for Greece of July 2013.
Kar zadeva obstoj prednosti, se je z ukrepom B2 delež kapitala skupine povečal na raven, ki ji je omogočala nadaljnje delovanje na trgu in dostop do financiranja iz Eurosistema.
Moreover, the HFSF committed to cover the capital needs only up to 9 % of the transferred assets, as they were estimated by the Bank of Greece.
Poleg tega nadomestilo ukrepa B2 sestavljajo natečene obresti na obveznice instrumenta EFSF in dodatna provizija v višini 1 %.
Furthermore, the equity was not transferred to the Bank and therefore will be left in the entity into liquidation.
Ker je navedeno nadomestilo očitno nižje od nadomestila za podobne kapitalske instrumente na trgu, skupina pod takimi pogoji na trgu zagotovo ne bi mogla zbrati navedenega kapitala.
Therefore, the shareholders of Probank will suffer a full loss and the contribution of the HFSF is not inflated by the cost of rescuing them.
Z ukrepom B2 je bila torej skupini zagotovljena prednost iz državnih sredstev.
The Commission considers that to be the case for Probank.
Položaj skupine se je okrepil zaradi ukrepa B2, ker so ji bili zagotovljeni finančni viri, potrebni za nadaljnje izpolnjevanje kapitalskih zahtev, kar je vodilo do izkrivljanja konkurence.
In conclusion, the measures are necessary as rescue aid in both its amount and form to achieve the objectives of limiting the disturbance in the Greek banking system and the economy as a whole.
Poleg tega ukrep B2 vpliva na trgovino med državami članicami, saj skupina deluje na bančnih trgih v drugih državah članicah in finančne institucije iz drugih držav članic delujejo v Grčiji, zlasti na zavarovalniškem trgu.
Probank no longer exists as it previously existed.
Komisija meni, da ukrep B2 pomeni državno pomoč.