natgillin/translations-raw huggingface dataset:
Thus banks should use their own resources to finance the restructuring, for instance by selling assets, while the stakeholders should absorb the losses of the bank where possible.
Glej oddelek II „The restructuring of the Greek Sovereign Debt“ poročila „Report on the Recapitalisation and Restructuring of the Greek Banking Sector“ (Prestrukturiranje grškega državnega dolga, Poročilo o dokapitalizaciji in prestrukturiranju grškega bančnega sektorja), grška centralna banka, december 2012, na voljo na spletni strani: http://www.bankofgreece.gr/BogEkdoseis/Report_on_the_recapitalisation_and_restructuring.pdf
Own contribution by the Bank: divestments and cost cutting
Sporočilo za javnost finančnega ministrstva z dne 9. marca 2012, na voljo na spletni strani: http://www.pdma.gr/attachments/article/80/9%20MARCH%202012%20-%20RESULTS.pdf
The Bank has already divested some small foreign businesses (Ukraine) and deleveraged part of its portfolio in order to enhance both its capital adequacy and its liquidity position.
Količnik navadnega lastniškega temeljnega kapitala banke je eden od količnikov regulatornega kapitala, ki ga na podlagi direktive o kapitalskih zahtevah spremlja bančni nadzornik.
For instance the Bank has deleveraged EUR 1,9 billion of foreign assets from 2009 to 2013 [114].
Glej opombo 7, str.
The restructuring plan foresees the sale of further assets in South-Eastern Europe, as described in recital 107.
106.
Considering the deleveraging and the divestments already implemented and following the implementation of those commitments, the Bank will have significantly reduced its geographical footprint in South-Eastern Europe.
Glej opombo 8.
The downsizing of the Bank’s international assets will also significantly reduce the contingent risk that aid will be needed in the future.
Glej opombo 7, str.
It therefore helps to reduce the amount of aid to the minimum.
104.
The Bank sold its insurance activities in 2007.
Eurosistem, osrednji bančni sistem euroobmočja, sestavljajo Evropska centralna banka in nacionalne centralne banke držav članic.
It therefore has no significant activity in that market which could be sold to generate resources.
Sporočilo za javnost finančnega ministrstva z dne 3. decembra 2012, na voljo na spletni strani: http://www.pdma.gr/attachments/article/248/Press%20Release%20-%20December%2003.pdfZaradi odkupa lastnega dolga po ceni, ki je bila precej pod nominalno vrednostjo, se je dolg Grčije znatno zmanjšal.
In order to limit its capital needs, the Bank will not use capital to support or grow its foreign subsidiaries, as described in recital 119.
Če tak odkup ne bi bil izveden, bi se lahko tržna vrednost navedenih novih grških državnih obveznic povečala v skladu z razvojem tržnih parametrov, kot so obrestne mere in verjetnost neplačila Grčije.
Additionally, the commitments made by Greece provide that the Bank will not make further acquisitions.
Vključno s pričakovano izgubo iz naslova izdajanja novih posojil v Grčiji v obdobju od junija 2013 do decembra 2016.
The Bank has also engaged in a far-reaching cost reduction programme, as indicated in section 2.4.2.
Učinek napovedi kreditne izgube za tuje tveganje se je izračunal po obračunu tujih davkov in ob upoštevanju zavez, ki so bile v zadevnem času predložene Generalnemu direktoratu za konkurenco glede odprodaj.
Its costs will further decrease until 2017.
Rezervacije banke NBG za izgube iz posojil dne 30. junija 2013 pred rezervacijami bank First Business Bank in Probank.
Its workforce is being reduced and salaries adjusted downwards.
Rezervacije banke Eurobank za izgube iz posojil dne 30. junija 2013 pred rezervacijami bank New Hellenic Postbank in New Proton Bank, ki jih je zadevna banka prevzela avgusta 2013.
Greece has also committed to limit the remuneration of the Bank’s managers, […].
Glej preglednico 2.
Burden-sharing by historical shareholders and new capital raised on the market
Informacije, ki jih je banka Alpha Bank predložila Komisiji, 25. junij 2013.
The historical shareholders of the Bank were diluted by the rights issue completed in 2009 [115] and then again by the HFSF recapitalisation (measure B4) and private capital raising of 2013 and March 2014.
Računovodski izkazi za leto 2011, http://www.alpha.gr/files/investorrelations/GROUP_IAS_FY_2011_en1.pdf
For instance, the stake held by the shareholders of the Bank, which at the time included the investors that injected money in 2009, was reduced from 100 % prior to the Spring 2013 recapitalisation to only 4,9 % after that recapitalisation.
Glej oddelek 2.3.1.2 „Državna dokapitalizacija, dodeljena v okviru ukrepa dokapitalizacije“.
In addition, the Bank has not paid any dividend in cash since 2008.
Konsolidirani finančni izkazi banke Emporiki Bank z dne 31. decembra 2011, str.
In addition to that burden-sharing by historical shareholders, the Bank has raised a significant amount of private capital since the crisis started in 2008, that is to say EUR 986 million in 2009, EUR 550 million in 2013 and EUR 1200 million in 2014.
9.
Burden-sharing by subordinated debt holders
Sklad HFSF, Annual Financial report for the period from 1.1.2012 to 31.12.2012 (Letno finančno poročilo za obdobje od 1.1.2012 do 31.12.2012), str.
The Bank’s subordinated debt holders have contributed to the restructuring costs of the Bank.
8, na voljo na spletni strani: http://www.hfsf.gr/files/hfsf_annual_report_2012_en.pdf
The Bank performed several liability management exercises in order to generate capital.
Nakup in prevzem je postopek reševanja, v okviru katerega se v subjektu v postopku likvidacije opredelijo sredstva in obveznosti visoke kakovosti, ki se nato ponudijo na dražbi, da se prenesejo na poslovno uspešno podjetje.
The total amount of liabilities exchanged reached EUR 828 million, with a capital gain of EUR 436 million, as described in recital 114.
Glej odločbo odbora grške centralne banke za kredite in zavarovanja št. 97/3/8.2.2013.
The still outstanding instruments are subject to the coupon ban mentioned in recital 124.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/4/8.12.2013.
Therefore, the Commission considers that an adequate burden-sharing from the bank’s private hybrid investors is ensured and the requirements of the Restructuring Communication in that respect are met.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/5/8.12.2013.
Conclusion on own contribution and burden-sharing
Izraz „likvidnostna vrzel“ je lahko zavajajoč, saj ne opisuje likvidnostne podpore, ampak ukrepe kapitalske podpore.
In comparison with the total State recapitalisation received, the own contribution and burden-sharing, especially in the form of sale of assets and downsizing of the loan book, is much lower than what the Commission would usually consider sufficient.
Glej odločbo odbora za kredite in zavarovanja grške centralne banke št. 97/2/8.2.2013.
The downsizing only concerns the foreign activities [116], which account for a limited part of the Bank [117] and the restructuring does not envisage any reduction of the size of the loan and deposit books in Greece.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/1/8.12.2013.
However, in view of the elements discussed in section 7.6.1 and in particular the facts that Alpha Bank is the least aided bank among the large Greek banks and that the aid received fully qualifies for the exemption lay down in point 14 of the 2011 Prolongation Communication, under which the Commission can accept a lower own contribution and burden-sharing, the restructuring plan can be considered as providing for sufficient own contribution and burden-sharing measures.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/2/8.12.2013.
Measures to limit distortions of competition
Glej odločbo odbora za kredite in zavarovanja grške centralne banke št. 97/1/8.2.2013.
The Restructuring Communication requires a restructuring plan to propose measures limiting distortions of competition and ensuring a competitive banking sector.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/7/8.12.2013.
Moreover, those measures should also address moral hazard issues and ensure that State aid is not used to fund anti-competitive behaviour.
Glej odločbo odbora grške centralne banke za ukrepe reševanja št. 14/8/8.12.2013.
Point 31 of the Restructuring Communication states that when assessing the amount of aid and the resulting competition distortions, the Commission has to take into account both the absolute and relative amount of the State aid received as well as the degree of burden-sharing and the position of the financial institution on the market after the restructuring.
Bankomat (ATM – Automated Teller Machine) je elektronska bančna naprava, na kateri lahko stranke opravljajo osnovne transakcije brez pomoči predstavnika podružnice, kot je dvig gotovine.
In that respect, the Commission recalls that the Bank has received capital support from the State equivalent to 12 % of its RWA [118].
Predložitev informacij grških organov z dne 24. junija 2014.
In addition, the Bank has obtained liquidity guarantees amounting to EUR 14 billion at 30 November 2011 and government bond loans for an amount of EUR 1,6 billion at 30 September 2011, representing together 25 % of the Bank’s balance sheet at that date.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
In addition, the Bank received State-guaranteed ELA.
64.
The measures to limit potential distortions of competition are thus justified in view of that large amount of aid.
Izraz „tveganju prilagojena aktiva“ se nanaša na regulatorni agregat, ki meri izpostavljenost finančne institucije tveganju; uporabljajo ga nadzorniki pri spremljanju kapitalske ustreznosti finančnih institucij.
Additionally, the market share of the Bank in Greece is large, with market shares of 15 % for loans and 13 % for deposits at 31 December 2012.
Zaupne informacije
The acquisition of Emporiki Bank and, to a much smaller extent, of the three Cooperative Banks and of the Greek activities of Citibank increased the market shares of the Bank.
V skladu z dopisom grške centralne banke z dne 7. novembra 2011 „jamstva veljajo za celoten znesek izredne likvidnostne pomoči (ELA)“.
After the acquisition of Emporiki Bank, the Bank’s market shares in deposits in Greece amounted to 21 % as of 30 June 2013, while its market shares in residential mortgages, consumer loans and corporate loans were 23 %, 20 % and 21 % respectively [119].
Informacije je predložila grška centralna banka dne 7. aprila 2014.
The Commission recalls that the difficulties of the Bank resulted mainly from external shocks such as the Greek sovereign crisis and the protracted recession which has disrupted the Greek economy since 2008, as has already been noted in recital 69 of the Alpha Opening Decision.
Glej opombo 4.
As discussed in section 7.6.1 of this Decision, the distortive effect of the aid measures is lower in the light of those factors as is the need for measures to limit distortions of competition.
Glej preglednico 3.
For those reasons, the Commission can exceptionally accept that, in spite of the high aid amount and the high market share, the restructuring plan does not envisage any downsizing of the balance sheet and loans in Greece.
http://www.alpha.gr/files/investorrelations/EA20130416EN.pdf
However, the Commission notes that the State recapitalisations enabled the Bank to continue its banking activities in foreign markets.
Razdelitev delnic pa je poslovni ukrep, pri katerem družba obstoječe delnice razdeli na več delnic.
In that respect, the Commission notes, in addition to its deleveraging and restructuring already implemented, that the Bank will further restructure and deleverage its foreign assets by 30 June 2018 [120] in addition to the commitment not to use aid to fund the growth of those activities.
Glej opombo 43.
The aid will therefore not be used to distort competition on those foreign markets.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
That ban contributes to ensuring that the aid is strictly used to support the restoration of the viability of the Greek banking activities, and not, for instance, to grow in foreign markets.
Skupina se je zavezala, da bo tujo aktivo zmanjšala na […] milijard EUR, bilančna vsota skupine pa bo v skladu s finančnimi napovedmi leta 2018 znašala […] milijard EUR.
The commitment to decrease the interest paid on Greek deposits from unsustainably high levels also ensures that the aid will not be used to finance unsustainable deposit collection strategies which distort competition on the Greek market.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
Similarly, the commitment to implement strict guidelines as regards the pricing of new loans, based on a proper credit risk assessment, will prevent the Bank from distorting competition on the Greek market with inappropriate pricing strategies on the loans to customers.
132, pred prevzemom banke Emporiki Bank.
Taking into account the specific situation described in section 7.6.1 and the measures provided for in the restructuring plan, the Commission considers there are sufficient safeguards to limit distortions of competition.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
MONITORING
129.
In accordance with section 5 of the Restructuring Communication, regular reports are required to allow the Commission to verify that the restructuring plan is being implemented properly.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
As stated in the commitments given by Greece [121], Greece will ensure that until the end of the restructuring period, namely, 31 December 2018, the Monitoring Trustee, which has been appointed by the Bank with the approval of the Commission, will monitor the commitments given by Greece on the restructuring of activities in Greece and abroad and on corporate governance and commercial operations.
102–103.
It can therefore be concluded that implementation of the restructuring plan will be properly monitored.
Število podružnic in zaposlenih se je med septembrom 2012 in decembrom 2013 povečalo zaradi prevzema banke Emporiki Bank.
CONCLUSION
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
It is concluded that Greece unlawfully implemented aid measures B1, B2, B3 and B4 in breach of Article 108(3) of the Treaty, since they were implemented before their formal approval by the Commission.
103.
However the Commission finds that the restructuring plan, when taken together with the commitments in the Annex, ensures the restoration of long-term viability of the Bank, is sufficient with respect to burden-sharing and own contribution, and is appropriate and proportional to offset the competition distorting effects of the aid measures examined in this Decision.
Finančne napovedi, priložene načrtu prestrukturiranja banke Alpha Bank, junij 2014, podatek za banko Alpha Bank Greece.
HAS ADOPTED THIS DECISION:
105.
Article 1
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
The following measures implemented by Greece constitute State aid within the meaning of Article 107(1) of the Treaty:
96.
the emergency liquidity assistance provided to Alpha Bank S.A. by the Bank of Greece and guaranteed by Greece (measure L2);
Finančne napovedi, priložene načrtu prestrukturiranja banke Alpha Bank, junij 2014, podatki za poslovanje v Grčiji.
the second bridge recapitalisation of EUR 1042 million granted by the Hellenic Financial Stability Fund (‘HFSF’) to Alpha Bank S.A. in December 2012 (measure B2);
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
the commitment letter of EUR 1629 million granted by the HFSF to Alpha Bank S.A. on 21 December 2012 (measure B3);
132.
the recapitalisation of EUR 4021 million granted by the HFSF to Alpha Bank S.A. in Spring 2013 (measure B4).
Načrt prestrukturiranja banke Alpha Bank, junij 2014, oddelek 5.4.2.
The financing by the HFSF of the total funding gap of EUR 427 million, in the framework of the transfer of selected assets and liabilities of Cooperative Bank of Dodecanese, Evia Cooperative Bank and Cooperative Bank of Western Macedonia to Alpha Bank S.A. in December 2013, does not constitute State aid within the meaning of Article 107(1) of the Treaty.
Glej Prilogo, poglavje II.
In the light of the restructuring plan relating to the Alpha Bank Group (Alpha Bank and all its subsidiaries and branches) submitted on 12 June 2014 and of the commitments provided by Greece on that date, the following State aid is compatible with the internal market:
Glej Prilogo, poglavje III, oddelek A.
the capital injection of EUR 940 million granted by Greece to Alpha Bank S.A. in May 2009 under the recapitalisation measure (measure A);
Glej Prilogo, poglavje III, oddelek C.
the emergency liquidity assistance provided to Alpha Bank S.A. by the Bank of Greece and guaranteed by Greece since July 2011, for an amount of EUR 23,6 billion at 31 December 2012 (measure L2);
„Nazadnje je treba glede nakupnih bonov, ki jih je izdal sklad HFSF, pojasniti, da bo Helenska republika pred vsakim odkupom nakupnih bonov, ki bi ga izvedla banka Alpha Bank ali kateri koli državni subjekt (vključno s skladom HFSF), od Evropske komisije pridobila soglasje, tako da se bo lahko Evropska komisija prepričala, da predvideni odkup nakupnih bonov ni v nasprotju z zahtevami glede nadomestila državi na podlagi pravil o državni pomoči.“
the recapitalisation of EUR 4021 million granted by the HFSF to Alpha Bank S.A. in May 2013 (measure B4).
Uvodna izjava 59 sklepa o začetku postopka za skupino Alpha Bank.
Article 2
Uvodna izjava 63 sklepa o začetku postopka za skupino Alpha Bank.
For the Commission
6).
6).
Glej Sklep Komisije z dne 25. januarja 2010 v zadevi v zvezi z državno pomočjo NN 19/2009 – Restructuring aid to Dunfermline Building Society (Pomoč za prestrukturiranje Dunfermline Building Society), uvodna izjava 47; Sklep Komisije z dne 25. oktobra 2010 v zadevi v zvezi z državno pomočjo N 560/2009 – Aid for the liquidation of Fionia bank (Pomoč za likvidacijo banke Fionia bank), uvodna izjava 55; Sklep Komisije z dne 8. novembra 2010 v zadevi v zvezi z državno pomočjo N 392/2010 – Restructuring of CajaSur (Prestrukturiranje banke CajaSur), uvodna izjava 52.
It was attributed the number SA.26678 (N 560/2008).
Glej opombi 1 in 2.
That scheme was subsequently prolonged and amended as described in footnote 2.
Tveganju prilagojena aktiva skupine je dne 31. marca 2012 znašala 44,2 milijarde EUR.
See Commission Decision of 27 July 2012 in State aid SA.34823 (2012/C) (ex 2012 NN), ‘Recapitalisation Alpha Bank by the Hellenic Financial Stability Fund’ ( OJ C 357, 20.11.2012, p.
Sporočilo Komisije o uporabi pravil o državni pomoči za podporne ukrepe v korist bank v okviru finančne krize od 1. januarja 2012 dalje (v nadaljnjem besedilu: sporočilo o podaljšanju iz leta 2011) (UL C 356, 6.12.2011, str.
36).
7).
HFSF press release, 24 December 2012, available online at: http://www.hfsf.gr/files/press_release_20121224_en.pdf
Glej opombo 6.
Those measures were registered by the Commission as case SA.36004 (2013/NN).
Glej uvodno izjavo 41 Odločbe Komisije v zadevi NN 51/2008, Jamstvena shema za banke na Danskem (UL C 273, 28.10.2008, str.
The notification was registered under number SA.34823 (2012/C) (ex 2012 NN).
2).
European Commission – Directorate-General Economic and Financial Affairs.
Glej uvodno izjavo 83: natečene obresti se štejejo kot dodaten prispevek sklada HFSF in so zato znižale znesek, ki ga je moral sklad plačati skupini za dokapitalizacijo iz pomladi 2013.
The Second Economic Adjustment Programme for Greece — March 2012, p.
Glej tudi oddelek 7.5.1.
17, available online at http://ec.europa.eu/economy_finance/publications/occasional_paper/2012/pdf/ocp94_en.pdf
Teoretična cena brez pravice do vpisa (TERP) je splošno sprejeta tržna metodologija za količinsko opredelitev učinka slabitve povečanja delniškega kapitala.
See section II ‘The restructuring of the Greek Sovereign Debt’ of the Report on the Recapitalisation and Restructuring of the Greek Banking Sector, Bank of Greece, December 2012, available online at: http://www.bankofgreece.gr/BogEkdoseis/Report_on_the_recapitalisation_and_restructuring.pdf
Glej preglednico 5.
Press release of Ministry of Finance of 9 March 2012, available online at: http://www.pdma.gr/attachments/article/80/9%20MARCH%202012%20-%20RESULTS.pdf
Prevzem prenesenih sredstev in obveznosti bank Western Macedonia Bank in Evia Bank ni bil priglašen grškemu organu za konkurenco, saj prihodki prenesenega dela posamezne zadružne banke ni presegel praga 15 milijonov EUR, kot ga določa člen 6(1) zakona št. 3959/2011 skupaj s členom 10(3)(a) istega zakona.
106.
Glej tudi oddelka 7.5.1 in 7.5.2.
See footnote 8.
Glej točko 28 sporočila o prestrukturiranju in uvodno izjavo 320 Sklepa Komisije z dne 5. aprila 2011 o ukrepih C 11/2009 (ex NN 53b/08, NN 2/10 in N 19/10), ki jih je Nizozemska izvedla za skupino ABN AMRO NV (ustanovljeno po združitvi banke Fortis Bank Nederland in banke ABN AMRO N), (UL L 333, 15.12.2011, str.
See footnote 7, p.
1).
104.
Glej uvodno izjavo 99.
The European Central Bank and the national central banks together constitute the Eurosystem, the system of central banks of the euro area.
Vključno s prispevki k jamstvenemu skladu za vloge in naložbe (sklad TEKE).
Press release of Ministry of Finance of 3 December 2012, available online at: http://www.pdma.gr/attachments/article/248/Press%20Release%20-%20December%2003.pdfThat buy-back of its own debt at a price deeply below face value generated a significant debt reduction for Greece.
Finančne napovedi, priložene načrtu prestrukturiranja banke Alpha Bank, junij 2014, podatki za banko Alpha Bank S.A.
In the absence of such a buy-back, the market value of those new GGBs could have increased depending on the evolution of market parameters such as interest rates and the probability of default of Greece.
Sklad HFSF, „Annual financial report for the year ended 31 December 2013“ (Letno finančno poročilo za leto, ki se je zaključilo 31. decembra 2013), str.
Included the expected loss from the new loan production in Greece over the period from June 2013 to December 2016.
68, na voljo na spletni strani: http://www.hfsf.gr/files/hfsf_annual_report_2013_en.pdf
The impact of the foreign risk CLPs was calculated after foreign tax and taking into account the disposal commitments which had been provided to the Directorate-General for Competition Policy at that time.
Finančne napovedi, navedene v načrtu prestrukturiranja, se razlikujejo od rezultatov testa izjemnih situacij, ki ga je izvedla grška centralna banka, saj ta test ni temeljil na enakem sklopu predpostavk in je vključeval dodatne prilagoditve, ki jih je izvedla grška centralna banka.
NBG loan loss reserves at 30 June 2013 pro-forma of the provisions of First Business Bank and Probank.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.
Eurobank loan loss reserves at 30 June 2013 pro-forma of the provisions of New Hellenic Postbank and New Proton Bank, which were acquired in August 2013.
107.
http://www.alpha.gr/files/investorrelations/IFRS_Alphagroup_Q3_2013_en.pdf
Glej uvodno izjavo 116.
See Table 2.
Kot je navedeno v zavezah (glej točko 7 poglavja 2 Priloge), se lahko zmanjšanje doseže z zmanjšanjem bilanc stanja ohranjenih tujih subjektov in/ali s prodajo tujih subjektov.
Those amounts of equity include, for 2010, 2011 and 2012, EUR 940 million of preference shares granted by Greece in 2009; for 2012 those amounts do not include the two bridge recapitalisations received by the Bank in 2012, for an amount of EUR 2942 million.
Obseg predlaganega ukrepa za lastni prispevek je treba iz razlogov, navedenih v oddelku 7.1.3.5, primerjati z obsegom skupine pred prevzemom banke Emporiki Bank, vlog treh zadružnih bank in banke Citibank Greece.
The amount of equity for 2013 includes the full 2012 and 2013 HFSF and private recapitalisation, which amounted to a total of EUR 4571 million.
Ob upoštevanju dejansko izplačane pomoči, kar prinaša največjo prednost in torej najbolj izkrivlja konkurenco, pomoč znaša 11 % tveganju prilagojene aktive skupine.
Alpha Bank submission of information to the Commission, 25 June 2013.
Načrt prestrukturiranja banke Alpha Bank, junij 2014, str.