natgillin/translations-raw huggingface dataset:
With reference to the ex-ante assessment, please provide a summary of its economic evidence and appropriate justification for having ratios below the ratios required in the GBER:
Ali je pooblaščeni subjekt sovlagatelj z državo članico in vlaga svoje vire?
☐ Financial instruments with design parameters above the ceilings provided for in the GBER, that is to say where the public investor takes more risk than allowed under the GBER (paragraphs 82 – 83 RFG).
Če ste odgovorili pritrdilno, navedite sklic na pravno podlago, ki omogoča, da pooblaščeni subjekt sovlaga:
With reference to the ex-ante assessment, please provide a summary of its economic evidence and appropriate justification for having design parameters above the ceilings provided for in the GBER:
☐ Ne.
☐ Financial instruments other than guarantees where investors, financial intermediaries and their managers are selected by giving preference to downside protection over asymmetric profit-sharing.
Če ste odgovorili nikalno, pojasnite metodo za izračun njegovega nadomestila za izvajanje ukrepa, da se prepreči prekomerno nadomestilo:
☐ Other:…
Ali je pooblaščeni subjekt izbran z odprtim, preglednim, nediskriminatornim in objektivnim izbirnim postopkom ali pa je imenovan neposredno?
Fiscal instruments: the ex-ante assessment demonstrates that the following design parameters which do not comply with the GBER are required:
Ali pooblaščeni subjekt upravlja sklade, prek katerih se zagotavlja financiranje v okviru sheme tveganega financiranja?
☐ Fiscal incentives to corporate investors (including financial intermediaries or their managers acting as co-investors).
Lastnosti družbe za upravljanje, odgovorne za izvajanje ukrepa na ravni finančnega posrednika:
Please provide a summary of its economic evidence and appropriate justification:
V primeru več ravni finančnih posrednikov, ki so vključeni v shemo (vključno s skladom skladov), navedite vse ustrezne informacije za vsako raven finančnega posrednika:
☐ Fiscal incentives to corporate investors for investment in SMEs via an alternative trading platform.
Ali je v shemo vključena katera koli oseba, ki ni javni organ, ki dodeli pomoč, ciljno podjetje, zgoraj omenjeni finančni posrednik, ki izvaja zgoraj omenjeno shemo, in zasebni vlagatelj, ki sodeluje pri shemi?
Private investors participating in the measure with equity, loans or guarantees:
Podroben opis instrumentov:
Please provide the characteristics of the private investors participating in the measure (e.g. corporate investors, natural persons, etc.):
Opomba: Za boljše razumevanje priložite sliko za boljšo vizualizacijo strukture sheme in instrumentov, na kateri so navedene vse vključene osebe in na kateri je opisan obseg njihovega sodelovanja, ter po potrebi prilogo, v kateri je povzeta splošna zasnova priglašene sheme.
Do the private investors provide equity, loans or guarantees at the level of the financial intermediary (e.g. fund of funds) or at the level of the final beneficiaries?
Opišite parametre finančne zasnove, ki ste jih obdržali za namene pridobivanja potencialnih finančnih posrednikov, da izrazijo svoje zanimanje za sodelovanje v shemi tveganega financiranja, tako da odgovorite na podrobna vprašanja v tem oddelku.
Do the financial intermediaries implementing the scheme co-invest (and are hence to be considered as private investors)?
Finančni instrumenti
If so, please specify:…
Ukrepe pomoči za tvegano financiranje v obliki finančnih instrumentov je treba izvajati prek finančnih posrednikov (odstavek 20 smernic za spodbujanje naložb tveganega financiranja).
Financial intermediaries implementing the scheme:
Zato so navedeni instrumenti vsaj deloma sestavljeni iz državnega posredovanja za finančne posrednike in naložb tveganega financiranja finančnih posrednikov v podjetja, ki so končni upravičenci.
(See broad definition in paragraph 52 RFG; it also includes funds with and without legal personality)
Posredovanje na ravni finančnih posrednikov
Please specify the nature of the financial intermediaries implementing the scheme:
Državno posredovanje na ravni finančnih posrednikov
Does the implementation of the measure involve an “entrusted entity” (as defined in paragraph 52(v) RFG)?
Država finančnim posrednikom zagotavlja naslednje (obkljukajte ustrezno okence in izpolnite, kadar je to primerno):
If so, please give details:…
☐ DRŽAVNA INJEKCIJA LASTNIŠKEGA KAPITALA (VKLJUČNO Z NAVIDEZNIM LASTNIŠKIM KAPITALOM) NA RAVNI FINANČNIH POSREDNIKOV
Does the entrusted entity co-invest with the Member State out of its own resources?
Pogoji injekcije lastniškega kapitala (vključite tudi primerjavo s tržnimi pogoji za tako injekcijo lastniškega kapitala):
If so, please provide the reference to the legal basis authorising the entrusted entity to make such co-investment:
Vrsta finančnega posrednika: …
☐ No.
Vrsta strukture financiranja finančnega posrednika (npr. investicijski sklad z deleži zasebnih in javnih naložb; večstopenjska struktura sklada skladov s specializiranimi podskladi, javni sklad, ki sovlaga z zasebnimi vlagatelji na podlagi posameznega trgovanja) (podrobno opišite):
If so, please explain the method for the calculation of its compensation for implementing the measure, to ensure it is not overcompensated:
V primeru navideznega lastniškega kapitala podrobno opišite naravo predvidenega instrumenta:
Is the entrusted entity selected through an open, transparent, non-discriminatory and objective selection procedure or is it directly appointed?
V primeru zasebnih naložb (npr. zasebni vlagatelji skupaj z državo zagotavljajo lastniški kapital finančnemu posredniku):
Does the entrusted entity manage the fund(s) through which the funding is provided under the risk finance scheme?
Navedite deleže naložb javnih in zasebnih vlagateljev:
Characteristics of the management company in charge of implementing the measure at the level of the financial intermediary:
Navedite vrsto prednostne obravnave, predvidene v korist sodelujočim zasebnim vlagateljem, kot je opisana v razpisu za prijavo interesa (navedite podrobne informacije):
In the case of several levels of financial intermediaries involved in the scheme (including funds of funds), please provide all relevant information for each level of financial intermediary:
☐ Ugodne spodbude: …
Is any party involved in the scheme other than the public authority granting the aid, the target undertakings, the financial intermediaries implementing the scheme mentioned above, and the private investors involved therein?
☐ Zaščita pred izgubo: …
Detailed description of the instrument(s):
Če lastnosti neenakovredne delitve izgube presegajo zgornje meje iz uredbe o splošnih skupinskih izjemah, predložite gospodarske dokaze in navedite utemeljitev, pri čemer se sklicujte na predhodno oceno (odstavek 110 smernic za spodbujanje naložb tveganega financiranja):
Note: In order to understand better, please attach a drawing to visualise the structure of the scheme and its instrument(s), indicating all parties involved, the size of their involvement, as well as, if appropriate, an annex summarising the overall design of the notified scheme.
Če je to ustrezno, navedite, ali je prvi izgubljeni delež, ki ga nosi javni vlagatelj, omejen (odstavek 110 smernic za spodbujanje naložb tveganega financiranja):
Please outline the design parameters that you have retained for the purposes of soliciting potential financial intermediaries to manifest their interest in participating in the risk finance scheme, by replying to the detailed questions in this section.
☐ Da.
Financial instruments
Navedite, kako je bila ta zgornja meja določena:
Risk finance aid measures in the form of financial instruments have to be deployed through financial intermediaries (paragraph 20 RFG).
☐ Ne.
Hence, those measures are composed of, at least, a State intervention for financial intermediaries, and risk finance investments by financial intermediaries into final beneficiary undertakings.
Pojasnite:
Intervention at the level of financial intermediaries
Kakšna je strategija javnega vlagatelja?
State intervention at the level of financial intermediaries
Pojasnite, kako izbrani instrument podpira cilje javnega reda, ki si jih prizadeva doseči javni vlagatelj:
The State provides the following to financial intermediaries (Please tick and complete as applicable):
Opišite, kako je instrument zasnovan, da bo zagotovil uskladitev interesov med naložbeno strategijo finančnega posrednika in cilji javnega reda:
☐ EQUITY (INCLUDING QUASI-EQUITY) INJECTION BY THE STATE AT THE LEVEL OF THE FINANCIAL INTERMEDIARIES
Navedite podrobne informacije o trajanju instrumenta ali izhodni strategiji, ki podpira naložbo v lastniški kapital, in pojasnite, kako je javni vlagatelj strateško načrtoval izhodno strategijo:
Terms of the equity injection (please include also a comparison with the market terms for such equity injection):
Druge pomembne informacije:
Type of financial intermediary:…
☐ FINANCIRANI DOLŽNIŠKI INSTRUMENTI: INSTRUMENTI POSOJIL (V NADALJNJEM BESEDILU: POSOJILA) NA RAVNI FINANČNIH POSREDNIKOV
Type of funding structure of the financial intermediary (e.g. investment fund with a percentage of private and public participation; fund of funds multi-stage structure with specialised sub-funds, public fund co-investing with private investors on a deal-by-deal basis) Please explain in detail:
Navedite podrobne informacije o vrsti posojil (npr. podrejena posojila, posojila s porazdelitvijo tveganja za portfelj): …
In case of quasi-equity, please describe in detail the nature of the envisaged instrument:
Pogoji posojil v okviru ukrepa (vključite tudi primerjavo s tržnimi pogoji za taka posojila):
If there is private participation (e.g. private investors provide equity to the financial intermediary alongside the State):
Največji znesek posojila: …
Please indicate the participation ratios of the public and private investors:
Najdaljše trajanje posojila: …
Please indicate the type of preferential treatment envisaged for the benefit of participating private investors, as described in the call for expression of interest (please give details):
Zahteve glede zavarovanja s premoženjem ali druge zahteve: …
☐ Upside incentives:…
Druge pomembne informacije: …
☐ Downside protection:…
Navedite sklic na ustrezne določbe pravne podlage, ki prepovedujejo uporabo pomoči za refinanciranje obstoječih posojil (odstavek 115 smernic za spodbujanje naložb tveganega financiranja):
If non-pari passu loss-sharing features go beyond the limits set out in the GBER, please provide economic evidence and justification, with reference to the ex-ante assessment (paragraph 110 RFG):
Če se na tej ravni izvajajo zasebne naložbe (npr. zasebni vlagatelji skupaj z državo zagotavljajo posojila finančnim posrednikom):
If relevant, please indicate whether the first loss piece borne by the public investor is capped (RFG paragraph 110):
Navedite deleže naložb javnih in zasebnih vlagateljev/posojilodajalcev:
☐ Yes; Please specify how that cap has been fixed:
Kakšna je raven sovlaganja izbranega finančnega posrednika zlasti v primeru posojil s porazdelitvijo tveganja za portfelj (upoštevajte, da ne sme biti nižja od 30 % vrednosti zadevnega portfelja posojil) (odstavek 114 smernic za spodbujanje naložb tveganega financiranja)? … %
☐ No; Please explain:
Opišite porazdelitev tveganj in koristi med javnimi in zasebnimi vlagatelji ali posojilodajalci:
What is the strategy of the public investor?
Če javni vlagatelj prevzame prvo izgubo, na kateri ravni je omejena?
Please explain how the chosen instrument supports the public policy objectives pursued by the public investor:
Upoštevajte, da je priporočeno, da taka zgornja meja ne presega 35 % (odstavek 113 smernic za spodbujanje naložb tveganega financiranja).
Please describe how the instrument is designed to ensure alignment of interests between the financial intermediary's investment strategy and the public policy objectives:
Omejena je pri … %.
Please provide a detailed explanation of the duration of the instrument or of the exit strategy underpinning the investment in equity, and how the exit is strategically planned by the public investor:
Če obstajajo drugi mehanizmi za zmanjševanje tveganja, ki koristijo javnim vlagateljem/posojilodajalcem, pojasnite:
Other relevant information:
Kakšen je mehanizem prenosa koristi (kot ga zahteva odstavek 104 smernic za spodbujanje naložb tveganega financiranja), ki zagotavlja, da finančni posrednik prenese koristi, ki mu jih dodeli država, na podjetja, ki so končni upravičenci?
Type of loans (e.g. subordinated, portfolio risk-sharing) please provide details:…
Prav tako navedite podrobne informacije o tem, v kakšnem obsegu portfelj, ki bo oblikovan v okviru ukrepa, presega standardno politiko kreditnega tveganja finančnega posrednika.
Terms of the loans under the measure (please include also a comparison with the market terms for such loans):
Navedite podrobne informacije o trajanju instrumenta ali izhodni strategiji, ki podpira naložbo v dolžniške instrumentne, in pojasnite, kako je javni vlagatelj strateško načrtoval izhodno strategijo:
Maximum size of the loan:…
☐ NEFINANCIRANI DOLŽNIŠKI INSTRUMENTI: DRŽAVNA JAMSTVA NA RAVNI FINANČNIH POSREDNIKOV ZA ZADEVNE TRANSAKCIJE S KONČNIMI UPRAVIČENCI
Maximum duration of the loan:…
Navedite sklic na ustrezno določbo pravne podlage, ki zahteva, da morajo biti upravičene transakcije, ki so zajete v jamstvu, transakcije novega upravičenega posojila za tvegano financiranje, vključno z instrumenti zakupa in instrumenti naložb v navidezni lastniški kapital ter brez instrumentov lastniškega kapitala (odstavek 116 smernic za spodbujanje naložb tveganega financiranja): …
Please provide reference to the relevant provisions of the legal basis that prohibit the use of the aid to refinance existing loans (paragraph 115 RFG):
☐ Omejitev: omejitev jamstva je … %.
If private participation takes place at this level (e.g. private investors provide loans to the financial intermediary alongside the State):
(Upoštevajte, da se ta omejitev uporablja za portfelje finančnih posrednikov, in priporočljivo je, da limitirana mera ne preseže 35 % (odstavek 118 smernic za spodbujanje naložb tveganega financiranja).)
Please indicate the participation ratios of the public and private investors/lenders:
Navedite razloge za to mero:
In particular, in case of portfolio risk-sharing loans, what is the co-investment rate by the selected financial intermediary?
Poleg tega obkljukajte ustrezno okence, da potrdite, ali:
Please note that it should not be lower than 30 % of the value of the underlying loan portfolio (paragraph 114 RFG) … %
☐ limitirana mera zajema le pričakovane izgube ali
Please describe the risk and reward sharing between the public and private investors or lenders:
☐ limitirana mera zajema tudi nepričakovane izgube – v tem primeru navedite, kako cena jamstva izraža to dodatno kritje tveganja: …
In particular, if the public investor assumes the first loss, at what level is it capped?
☐ je jamstvo neomejeno – v tem primeru utemeljite potrebo po tem in opišite, kako cena jamstva izraža to dodatno kritje tveganja:
Please note that it is recommendable that such cap does not exceed 35 % (RFG paragraph 113): Capped at … %
☐ posredno osebno jamstvo (jamstvo jamstvenim ustanovam)
Where the public investor/lender assumes a first loss position exceeding the cap set out in the GBER (25 %), it needs to be justified by reference to a severe market failure identified in the ex-ante assessment (RFG paragraph 113).
☐ drugo (navedite): …
Please provide a summary of such justification:
Stopnja jamstva (delež kritja izgube s strani javnega vlagatelja za vsako zadevno transakcijo (glej opredelitev pojma v odstavku 52(xvi) smernic za spodbujanje naložb tveganega financiranja in upoštevajte, da stopnja jamstva ne sme preseči 90 % (odstavek 117 smernic za spodbujanje naložb tveganega financiranja))): … %;
If there are other risk-mitigation mechanisms for the benefit of the private investors/lenders, please explain:
Navedite razlog za to stopnjo kritja:
What is the pass-on mechanism (as required by paragraph 104 RFG) ensuring that the financial intermediary passes on the advantage it receives from the State to the final beneficiary undertakings?
Zadevne transakcije, ki so zajete v jamstvu:
What requirements does the financial intermediary have to apply (e.g. in terms of interest rate, collateral, risk class) to the final beneficiaries (please provide very precise details)?
Narava zadevnih transakcij: …
Please also provide details as to what extent the portfolio to be built under the measure goes beyond the financial intermediary's standard credit risk policy.
Skupni nominalni znesek zadevnih transakcij (v EUR): …
Please explain in detail the duration of the instrument or of the exit strategy underpinning the investment in debt instruments, and how the exit is strategically planned by the public investor:
Najvišji nominalni znesek zadevne transakcije glede na končnega upravičenca: …
☐ UNFUNDED DEBT INSTRUMENTS: GUARANTEES BY THE STATE AT THE LEVEL OF FINANCIAL INTERMEDIARIES ON UNDERLYING TRANSACTIONS WITH FINAL BENEFICIARIES
Trajanje zadevnih transakcij: …
Please provide reference to the relevant provision of the legal basis that requires that eligible transactions covered by the guarantee must be newly originated eligible risk finance loan transactions, including lease instruments, as well as quasi-equity investment instruments, to the exclusion of equity instruments (paragraph 116 RFG):…
Druge pomembne lastnosti zadevnih transakcij (ocena tveganja, drugo): …
Do the guarantees to financial intermediaries cover a portfolio of underlying transactions and not a single underlying transaction?
Opišite druge lastnosti jamstva (vključite tudi primerjavo s tržnimi pogoji za tako jamstvo):
Type of guarantee:
Najdaljše trajanje jamstva: …(Upoštevajte, da pod običajnimi pogoji ne bi smelo trajati več kot 10 let (odstavek 119 smernic za spodbujanje naložb tveganega financiranja).)
☐ Capped: guarantee cap is … %
Navedite sklic na ustrezno določbo pravne podlage, ki določa, da se mora jamstvo zmanjšati, če finančni posrednik v določenem obdobju ne vključi najmanjšega zneska naložb v portfelj, in da se za neizkoriščene zneske zahtevajo provizije: …
(Please note that this cap applies to portfolios held by financial intermediaries and it is recommended that the cap rate does not exceed 35 % (paragraph 118 RFG); Please provide reasons for that rate:
Ali je predvidena provizija za jamstvo?
Moreover, tick to specify whether:
Navedite, katera oseba bo morala plačati provizijo za jamstvo:
☐ The cap rate only covers expected losses; or
Podrobno opišite določanje cen:
☐ The cap rate covers also unexpected losses; In this case, please show how the pricing of the guarantee reflects this additional risk coverage:…
Drugo: …
☐ Uncapped; in that case, please justify the need and how the pricing of the guarantee reflects this additional risk coverage by the guarantee:
Prav tako navedite podrobne informacije o tem, v kakšnem obsegu portfelj, ki bo oblikovan v okviru ukrepa, presega standardno politiko kreditnega tveganja finančnega posrednika.
☐ Counterguarantee (guarantee to guarantee institutions)
Navedite podrobne informacije o trajanju instrumenta ali izhodni strategiji, ki podpira naložbo v dolžniške instrumente, in pojasnite, kako je javni vlagatelj strateško načrtoval izhodno strategijo:
☐ Other: please specify:…
☐ DRUGI FINANČNI INSTRUMENTI
Guarantee rate (percentage of loss coverage by the public investor of every underlying transaction (See definition in paragraph 52(xvi) RFG and please note that the guarantee rate must not exceed 90 % (paragraph 117 RFG)): … %;
Opišite finančni instrument, ki se izvaja z ukrepom, in podrobno opišite vse elemente iz oddelka 2.9.1.1 zgoraj, če veljajo za izbrani finančni instrument:
Please give the reason for this level of coverage:
Posredovanje finančnih posrednikov na nadaljnjih ravneh finančnih posrednikov
Underlying transactions covered by the guarantee:
V nekaterih razmerah (vključno s strukturami sklada skladov) država na primer zagotovi lastniški kapital, posojila ali jamstva finančnemu posredniku, ki nato zagotovi lastniški kapital, posojila ali jamstva nadaljnjemu finančnemu posredniku, ki nato zagotovi naložbe tveganega financiranja končnim upravičencem.
Nature of the underlying transactions:…
V takih primerih, ko so druga ali nadaljnje ravni finančnih posrednikov vključene v shemo, navedite vse ustrezne informacije, ki se zahtevajo v oddelku 2.9.1.1.A o lastniškem kapitalu/posojilih/jamstvih/drugih finančnih instrumentih, kadar je to primerno, za vsako dodatno raven finančnih posrednikov:
Total nominal size of the underlying transactions (in EUR):…
Naložbe tveganega financiranja finančnih posrednikov v končne upravičence
Other relevant characteristics of the underlying transactions (risk rating, other):…
Podrobno opišite pogoje naložbe lastniškega kapitala (vključite tudi primerjavo s tržnimi pogoji za tako naložbo lastniškega kapitala):
Please describe the other features of the guarantee (please include also a comparison with the market terms for such guarantee):
Podrobno opišite vse lastnosti naložb, ki jih izvede finančni posrednik, vključno z zahtevami, ki bi jih morala izpolnjevati naložbena strategija upravičenih finančnih posrednikov:
Maximum duration of the guarantee: …(Please note that this should normally not exceed 10 years (paragraph 119 RFG))
Navedite podrobne informacije o trajanju instrumenta ali izhodni strategiji, ki podpira naložbo v lastniški kapital:
Please provide reference to the relevant provision in the legal basis that stipulates that the guarantee must be reduced if the financial intermediary does not include a minimum amount of investment in the portfolio during a specific period, and that commitment fees are required for unused amounts:…
Če se izvajajo zasebne naložbe (npr. tudi zasebni vlagatelji zagotavljajo lastniški kapital končnim upravičencem):
Is a guarantee fee envisaged?
Navedite delež naložb zasebnih vlagateljev: …
Please specify which party will have to pay the guarantee fee:
Navedite vrsto prednostne obravnave, predvidene v korist sodelujočim zasebnim vlagateljem, kot je opisana v razpisu za prijavo interesa (navedite podrobne informacije):
Please describe in detail the pricing:
Če lastnosti neenakovredne delitve izgube presegajo zgornje meje iz uredbe o splošnih skupinskih izjemah, predložite gospodarske dokaze in navedite utemeljitev, pri čemer se sklicujte na predhodno oceno (odstavek 110 smernic za spodbujanje naložb tveganega financiranja): …
Other:…
Če je to ustrezno, navedite, ali je prvi izgubljeni delež, ki ga nosi javni vlagatelj, omejen (odstavek 110 smernic za spodbujanje naložb tveganega financiranja): …
What requirements does the financial intermediary have to apply (e.g. in terms of interest rate, collateral, risk class) to the final beneficiaries?
☐ Da.
Please provide very precise details.
Navedite, kako je bila ta zgornja meja določena:
Please also detail to what extent the portfolio to be built under the measure goes beyond the financial intermediary's standard credit risk policy.
☐ FINANCIRANI DOLŽNIŠKI INSTRUMENTI: POSOJILA FINANČNIH POSREDNIKOV KONČNIM UPRAVIČENCEM
Please provide a detailed explanation of the duration of the instrument or of the exit strategy underpinning the investment in debt instruments, and how the exit is strategically planned by the public investor:
Navedite podrobne informacije o vrsti posojil:
☐ OTHER FINANCIAL INSTRUMENTS
Največji znesek posojila glede na upravičenca: …
Please describe the financial instrument to be implemented with the measure and provide a detailed description of all elements contained in section 2.9.1.1 above in so far as they are applicable to the chosen financial instrument:
Najdaljše trajanje posojil: …
Intervention by financial intermediaries in further levels of financial intermediaries
Navedite podrobne informacije o trajanju instrumenta ali izhodni strategiji, ki podpira naložbo v dolžniške instrumente: