natgillin/translations-raw huggingface dataset:
The bank intends to initially transfer in 2016 a portfolio of EUR 5 billion EAD to the Länder.
16 [Preglednost] Komisija bo imela med izvajanjem tega sklepa neomejen dostop do vseh informacij, ki so potrebne za nadzor nad izvajanjem tega sklepa.
The sale will take place at market value.
Komisija lahko od OpCo ali HoldCo zahteva razlage in pojasnila.
This will not affect HSH's right to continue to sell assets on the market and settle in accordance with the conditions in the existing guarantee agreement.
Nemčija, OpCo in HoldCo s Komisijo v polni meri sodelujejo v zvezi z vsemi njenimi zahtevami glede nadzora in izvajanja tega sklepa.
[Flexibility in the selection of the assets to be transferred] In order to establish the purchase price of the selected assets, the Länder will use the valuation in the annex to this list of commitments.
To ne vpliva na obvezne zahteve o bančni tajnosti.
The Länder are free to determine the market price for parts of the selected assets on the basis of this valuation and to transfer the assets into their sphere, provided that the selected portfolio does not exceed EUR 6,2 billion EAD.
17 [Prenehanje obveznosti] Zaveze v tej prilogi in prejšnjem sklepu o odobritvi prenehajo s prodajo ali, v vsakem primeru, s potekom roka za prodajo, pod pogojem, da v ustrezni zavezi ni izrecno navedeno nasprotno.
During the sale period, the selected assets may be bought all together by the Länder but also individually or in lots.
Uredba Sveta (ES) št. 139/2004 z dne 20. januarja 2004 o nadzoru koncentracij podjetij (Uredba ES o združitvah) (UL L 24, 29.1.2004, str.
For transfers made after 31 August 2016, the Commission will update the valuation.
1).
[Sale]
PRILOGA II
[Sale procedure] Subject to point 5.3, HoldCo will sell its shares in OpCo by 28 February 2018 (‘sale deadline’) through an open, non-discriminatory, competitive and transparent procedure (‘sale procedure’).
REZULTATI VREDNOTENJA PO VRSTICAH – RAVEN OBLIKOVANJA
The sale deadline is observed by the signing of a sale contract.
marca, 18. junija in 6. septembra 2011 se je banka HSH s ponudnikom jamstva dogovorila, da prekliče dele jamstva za drugo izgubo ter zgornjo mejo jamstva s tem omeji na 7 milijard EUR.
[Extension of the sale deadline] The deadline referred to in point 5.1 may be extended by 6 months with the agreement of the Commission, if the technical implementation of the model is delayed because of circumstances over which the Länder have no direct influence.
Posledično je načrt prestrukturiranja, na katerem je temeljil sklep iz leta 2011, predvideval, da bo banka HSH plačala provizijo za jamstvo samo za jamstvo v višini 7 milijard EUR [3].
[Transitional period for Länder shareholdings] The Länder are entitled to retain up to 25 % of the shares in OpCo through their direct and indirect holdings in HoldCo for up to four years from the completion of the sale.
22. maja 2013 je Nemčija obvestila Komisijo o nameri zveznih dežel Schleswig-Holstein in Hamburg za ponovno povečanje zgornje meje jamstva s 7 milijard EUR nazaj na 10 milijard EUR.
[Timetable and milestones for the sale procedure] Before the start of a sale procedure, a timetable containing at least the following milestones will be submitted to the Commission:
Skupaj z obvestilom je Nemčija predložila tudi posodobljen srednjeročni poslovni načrt banke HSH za obdobje od 2013 do 2015.
preparation of the procedure (no later than […] [1]); (b) submission of provisional bids (no later than […]); (c) access to the data room (no later than […]);
Nemčija je predložila pripombe na sklep o začetku postopka z dopisom z dne 30. septembra 2013.
bidder selection and signing (no later than 28 February 2018).
Komisija od zainteresiranih strani ni prejela pripomb.
[Qualification of the buyer(s)] The bidders taking part in the sale procedure must have the necessary financial resources and demonstrable industry-relevant expertise to manage OpCo as a profitable and active competitor.
Z dopisom z dne 20. decembra 2013 je Nemčija predložila prvi načrt prestrukturiranja skupaj z zavezo o njegovi posodobitvi po predložitvi zaključnega računa banke HSH za leto 2013 ter zavezo, da bo temeljil na bolj konzervativnih predpostavkah.
[Independence of the buyer(s)] The buyer(s) of OpCo must be independent of HSH and the public sector.
Nemčija je predložila posodobljen načrt prestrukturiranja dne 28. aprila 2014 in, po nadaljnjih sestankih in korespondenci, ponovno posodobila ta načrt ter ga predložila 17. aprila 2015.
That will be the case if neither HSH nor the public sector is able to exercise control within the meaning of Article 3 of Council Regulation (EC) No 139/2004 [2] over any of the buyers at the time of sale.
Leta 2009 je javnopravna ustanova Finanzfonds v banko vložila 3 milijarde EUR kapitala in ji hkrati zagotovila 10 milijard EUR jamstva za drugo izgubo z začetkom veljavnosti 1. aprila 2009.
The term ‘public sector’ includes the Federal State, all Länder and municipalities and their public institutions as well as undertakings controlled by them.
Poleg tega je nemški sklad za stabilizacijo finančnega trga (SoFFin) banki HSH zagotovil jamstva za novo izdajo dolžniških vrednostnih papirjev za do 17 milijard EUR.
A sale to one or more Landesbank(en) is possible.
Ti ukrepi pomoči so bili odobreni s sklepom iz leta 2011 na podlagi načrta prestrukturiranja in z njim povezanih zavez ter pogojev v povezavi s plačilom in delitvijo bremena.
Public savings banks (öffentliche Sparkassen) may take part — jointly with a minority shareholding — in a purchase through another buyer that is independent of HSH and the public sector (excluding Landesbanken).
Posledično so nadzorni organi od banke v letu 2013 zahtevali, da zgornjo mejo jamstva poveča za 3 milijarde EUR, na izhodiščno raven 10 milijard EUR.
[Successful conclusion of the sale procedure] After a successful completion of the sale procedure with the outcome of an aid-free offer with a positive offer price (while maintaining the guarantee), the intended acquisition will be notified to the Commission for the purpose of an assessment of the viability of the new company structure.
Ko je Komisija junija 2013 začasno odobrila ponovno povečanje kot novi ukrep pomoči, je na podlagi poslovnega načrta, predloženega z obvestilom o ponovnem povečanju, izrazila dvome glede obnove dolgoročne uspešnosti poslovanja banke HSH in se spraševala, ali mora banka HSH za dosego tega cilja prilagoditi svojo poslovno strategijo in premisliti o alternativnih dejanjih [7].
The sale will not be implemented until the Commission has adopted an approval decision.
Začetna knjigovodska vrednost portfelja z zagotovljenim jamstvom je znašala približno 185 milijard EUR, kar je predstavljalo približno 75 % skupne bilančne vsote v letu 2009.
The time taken for the assessment does not count towards the sale deadline.
Večina zajamčenih sredstev so bila posojila strank (na začetku 115 milijard EUR) pa tudi vrednostni papirji s stalnim donosom (na začetku 27 milijard EUR), posojila v obveznicah (na začetku 15 milijard EUR), zajamčena plačila (na začetku 5 milijard EUR) in listinjeni vrednostni papirji (na začetku 9 milijard EUR) [9].
[Change of name] The bank will adopt a new name within 3 months of the successful completion of the sale procedure.
Ob koncu leta 2015 je v okviru jamstva ostalo neporavnanih le približno 50 milijard EUR terjatev v premoženju, merjeno kot izpostavljenost ob neplačilu (v nadaljnjem besedilu: EAD) [10].
5.9.
Preostala sredstva so skoraj izključno posojila strankam, v glavnem v ladijskem prometu, v poslovnem segmentu in prometu z nepremičninami.
[Cessation of new business upon a non-successful conclusion of the sale procedure] Where the sale procedure by the end of the sale deadline does not result in aid-free offers with a positive offer price (while maintaining the guarantee), or the Commission concludes the viability assessment pursuant to point 5.6 with the conclusion that the integration of OpCo into the new company structure will not lead to a long-term viable business model, OpCo will cease its new business and, as far as legally possible, administer its assets with the objective of an orderly wind-down.
Nanašajo se na, prvič, zavezo, da bodo deleže HoldCo v OpCo prodali v odprtem, nediskriminatornem, konkurenčnem in preglednem ponudbenem postopku, najpozneje do 28. februarja 2018 [18].
In that case the following continue to be permitted:
Za pravočasno uvedbo te privatizacije bodo nemški organi Komisiji pred začetkom prodajnega postopka predložili načrt z ustreznimi mejniki [19].
restructuring of existing loans in order to maintain value, provided that those loans fall under the management of problem loans;
Letna bilančna vsota OpCo ne bo presegla [100–110] milijard EUR v letu 2016 in [90–100] milijard EUR v letu 2017 [25].
business necessary for OpCo's cash management, with the exception of the acceptance of new deposits, including new deposits by existing customers; the rolling over of maturing deposits on the same terms remains permissible;
Kar zadeva financiranje ladij bo OpCo nadalje zmanjšala te dejavnosti in novo poslovanje na tem področju zmanjšala na [1–2] milijardi EUR [26].
prolongations which are necessary to avoid losses, provided that they offer significantly better prospects of final realisation;
Zavzela je stališče, da jamstvo predstavlja pomoč, vendar je izrazila dvom o tem, da bi se lahko ponovna vzpostavitev zgornje meje 10 milijard EUR obravnavala kot nova pomoč, saj je bil natanko takšen zgornji prag odobren s sklepom iz leta 2011 [33].
derivative transactions which are necessary in order to manage interest-rate, currency and credit risks in the existing portfolio and result in a reduction of OpCo's overall market risk position;
Trdila je, da tudi če bo Komisija ponovno povečanje obravnavala kot novo pomoč, je bila ta že spoznana za združljivo s sklepom iz leta 2011 [34].
[Obligations during the sale period] During the sale period, HoldCo will manage OpCo with the aim of retaining its viability, saleability and competitiveness.
Nemčija je v svojih pripombah na sklep o začetku postopka [51] ponovila, prvič, začetno stališče, da ponovno povečanje jamstva ni nov ukrep pomoči, ker ni preseglo zgornje meje 10 milijard EUR, ki je bila odobrena v sklepu iz leta 2011.
To that end,
Tega stališča niso spremenila dejstva, da ima zmanjšanje zavezujoč učinek ali da pogodba o jamstvu ni vključevala ponovnega povečanja, zaradi česar ga je bilo treba obravnavati kot novo pogodbo.
additional cost-reduction and rationalisation measures will be taken at OpCo in accordance with the submitted restructuring plan, so that the administrative costs will not exceed EUR [570-590] million in 2016 and EUR [520-550] million in 2017;
Drugič, Nemčija je potrdila svoje predhodno mnenje, da je ponovno povečanje, tudi če se opredeli kot nova pomoč, krito z razlogi za odobritev iz leta 2011, saj je Komisija v sklepu o začetku postopka, ko je navedla, da v tisti fazi niso obstajali nobeni dvomi, zapisala, da so delitev bremena in ukrepi glede konkurence, ki so bili obravnavani kot primerni in zadostni pri sklepu iz leta 2011, še vedno ustrezni v primeru nove pomoči, ki ostaja znotraj meja ukrepov, odobrenih s sklepom iz leta 2011 [53].
OpCo's risk management, in particular in relation to new business, will be carried out in accordance with the principles of prudent business practice;
Po mnenju Nemčije Komisijo zavezujejo razlogi, ki jih je navedla pri odobritvi pomoči v sklepu iz leta 2011.
measures will be taken to further strengthen the capital base (including liability management), subject to approval by the Commission;
Tretjič, Nemčija je izpostavila, da ponovno povečanje zgornje meje jamstva podpira namen obnove dolgoročne uspešnosti poslovanja banke HSH in je v skladu s cilji načrta prestrukturiranja, odobrenega leta 2011.
OpCo may not make any payments in respect of profit-related equity instruments (such as hybrid financial instruments and participation certificates [Genussscheine]), in so far as those payments are not owed under contract or law.
V tem okviru je Nemčija navedla, da ni razlogov za dvom v dolgoročno uspešnost poslovanja banke in vzdržnost njenega poslovnega modela.
Those instruments will also have to participate in losses, if OpCo's balance sheet, without release of reserves and retained earnings, shows a loss.
Prvi je bil poslan decembra 2013, aprila 2014 je bil posredovan revidiran načrt prestrukturiranja s preudarnejšimi domnevami, aprila 2015 pa je bil poslan znova posodobljen poslovni načrt.
There will be no participation in losses carried forward from previous years, and
Ker ti načrti niso pomirili dvomov Komisije, da lahko povrnejo uspešnost poslovanja banke HSH, je Nemčija poiskala druge rešitve.
OpCo will not pay any dividends until the sale (i.e. for the period including the business year ending on 31 December 2017).
Ob koncu leta 2015 je bilo dejansko poravnanih za [1,2–2,0] milijarde EUR.
This does not preclude dividend payments by OpCo to HoldCo to the extent legally possible.
Znano je, da bo ta znesek v letu 2016 narasel za [2–3] milijarde evrov zaradi zahtevkov, ki so trenutno v postopku poravnave.
[Reduction of balance sheet total, and business model]
Osnova izračuna za osnovno premijo temelji na skupnem znesku neporavnanega jamstva, tj. 10 milijard EUR.
[Reduction of balance sheet total — OpCo] OpCo's total balance sheet assets will not exceed EUR [100-110] billion in 2016, and EUR [90-100] billion in 2017 (total balance sheet assets of OpCo).
Osnova izračuna za dodatno premijo je celotni počrpani znesek, ki še ne more biti znan [58].
Of this amount, trading assets will account for no more than EUR [5-12] billion.
V povezavi z delom provizije št. 1 znaša skupna raven neporavnanega jamstva trenutno 10 milijard EUR, vključno z ukrepom iz leta 2013.
[Withdrawal from object-related aircraft financing] In accordance with the List of Commitments of the Decision of 20 September 2011, OpCo will not resume the object-related aircraft financing activities discontinued by HSH.
Ta raven se ne more še bolj povečati, ker je 10 milijard EUR fiksna zgornja meja.
[Restriction of the corporate business] OpCo must restrict its business with corporate clients to German customers and their domestic and foreign participations, and to foreign clients that seek business in Germany.
Vendar je vsako nadomestilo iz naloga Besserungsschein omejeno z zneskom preostalega blažilca, tj. [700–800] milijonov EUR.
Business is restricted to existing locations, and no new locations will be opened.
Dodaten strošek od [700–900] milijonov EUR do [700–900] milijonov EUR bi torej povzročil, da bi delež navadnega lastniškega temeljnega kapitala na konsolidirani ravni padel pod 10 %.
[Definition of the ship financing business] OpCo's shipping division acts as a strategic partner for clients, including shipowners in the global shipping and shipbuilding sector.
Zato glede na predložene informacije, vključno z dejstvom, da bo ukrep št. 2 iz leta 2016, prenos sredstev, uveden ob koncu junija 2016, Komisija ugotavlja, da bodo obveznosti plačila provizije HoldCo za leto 2016 znašale med [205–210] milijonov EUR in [210–220] milijonov EUR.
In contrast to the shipping division, the corporate business division will not be active in object-related ship financing.
Komisija pozdravlja dejstvo, da je razpon v grobem primerljiv z 210 milijoni EUR likvidnosti, ki jo HoldCo zagotavlja OpCo.
[Downsizing of the ship financing business] OpCo will cut back its ship financing business by restricting its annual new business in this area to EUR [1-2] billion.
Komisija v zaključku ugotavlja, da obstaja verjetnost, da plačila provizij v višini 400 milijonov EUR, ki bodo po trenutni pogodbi o jamstvu zapadla konec leta 2016 (1,80 % + 2,20 % od 10 milijard EUR neplačanega jamstva) ne bodo v celoti plačana, čeprav ni verjetno, da bo odloženih več kot [0–15] milijonov EUR.
New business of this magnitude would not fully compensate for the repayments that are currently planned.
Medtem ko bodo plačila, zapadla v letu 2017, morala biti v celoti odložena, bo takšen odlog omejen na največ dva meseca zaradi roka prodaje, ki je 28. februar 2018.
[EUR/USD exchange rate] The commitments in points 7.1 and 7.5 regarding the balance sheet total and the scope of new business in the ship financing division are based on an average EUR/USD exchange rate of 1,10.
Ti dve izdaji bosta zapadli med prodajnim postopkom v februarju 2017, pri čemer je treba poplačati še nominalni neporavnani znesek v višini 928 milijonov EUR.
If the actual rate is lower than that reference rate, the maximum amounts mentioned there must be adjusted upwards accordingly.
Ti izdaji predstavljata indikacijo tržne cene tveganja za kapitalu podobno izpostavljenost do banke HSH in torej konservativno oceno tega, kolikšna bi bila tržna raven plačila za morebiten odlog provizije.
[Restriction of external growth] Until the end of the sale deadline, an expansion of business activities through the acquisition of control of other companies is not permitted (no external growth).
V povezavi z morebitnim odlogom zaradi zapadlih obveznosti v letu 2017 Komisija najprej ugotavlja, da bi do tega prišlo samo, če se prodaja ne bi zgodila pred koncem leta 2017.
Debt-to-equity swaps and other routine credit management measures are not considered to be an expansion of business activities unless carried out with the intention of circumventing the restriction of growth referred to in the first sentence.
Drugič, medtem ko bo znesek morebitnega odloga verjetno primerljiv z neporavnanim zneskom vsake od dveh podrejenih izdaj, bo takšen odlog omejen na največ dva meseca glede na končni rok za prodajo, kar bo močno omejilo tveganje, prevzeto z odlogom stroškov.
[Sale of parts of the business] The sale of parts or subparts of the business with the approval of the public-sector owners is compatible with this Decision.
Ker trenutno za ta sredstva na trgu ni na voljo kupca, Komisija meni, da takšen prenos lastnikom iz javnega sektorja ustreza ukrepu za oslabljena sredstva.
[Proprietary Trading] OpCo does not undertake dedicated proprietary trading.
V skladu s prvim načelom in kot je Komisija opozorila v nedavnem sklepu o slabih posojilih v Italiji in na Madžarskem [64], je takšen prenos sredstev lahko obravnavan kot brez državne pomoči samo, če se transakcija zgodi po tržnih pogojih.
This means that OpCo carries on only trading activities indicated in its trading book that are necessary either (a) for accepting, transferring and executing its customers' sales and purchase orders (i.e. trading with financial instruments as a service, up to a value measured in value at risk (VaR) of EUR […] million/1 day, 99 % confidence); or (b) for hedging customer business, or interest and liquidity management in the treasury sector (so-called trading for own account, up to a value measured with value at risk (VaR) of EUR […] million/1 day, 99 % confidence); or (c) so that the economic transfer of balance sheet items to the restructuring unit or to third parties can be carried out (up to a value measured in value at risk (VaR) of EUR […] million/1 day, 99 % confidence).
Po prvi zahtevi po podatkih, ki so jih zahtevali Komisija in njeni strokovnjaki sredi decembra 2015, je banka informacije posredovala 18. januarja 2016.
As those positions can be taken on only within the limits defined above, they cannot jeopardise the sustainability or liquidity situation of OpCo.
Med 20. januarjem in 19. marcem 2016 je bilo vzpostavljenih več stikov, sestankov, razprav in dostav podatkov.
Under no circumstances will OpCo carry out business activities that serve purely the realisation of profit, outside the purposes mentioned in (a), (b) or (c).
Zaključni datum, dogovorjen z banko, je bil 31. december 2015, vendar je bila večina podatkov, ki jih je banka posredovala, z dne 30. septembra 2015.
[Liquidity/Funding]
Kar zadeva omejitev pomoči na najmanjšo možno in prispevek zasebnega sektorja, se Komisija sklicuje na svojo oceno v uvodni izjavi 57 Sklepa o začetku postopka, v kateri je ugotovila, da je povečanje jamstva druge izgube, čeprav pomeni novo pomoč, ostalo znotraj meja, ki so bile najprej odobrene v sklepu iz leta 2011.
By the end of 2016 and 2017 respectively, OpCo will adhere to the following liquidity ratios:
Komisija je torej zaključila, da je plačilo, odobreno s sklepom iz leta 2011, še primerno za novi ukrep.
Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR) of […] to […] %.
Ker je ukrep začasno združljiv, je Komisija nadalje obravnavala obstoj enkratnega plačila 275 milijonov EUR banke ponudniku jamstva in dejstvo, da so dodatne 3 milijarde EUR jamstva lahko obravnavane kot nadrejene obstoječemu jamstvu v višini 7 milijard EUR.
The calculation will be carried out on the basis of the definitions published at the time by the Basel Committee on Banking Supervision;
Ta dva dodatna sestavna dela sta omogočila Komisiji ugotovitev, da plačilo ustrezno upošteva večje tveganja ponudnika jamstva.
the share of the core bank's USD business that is refinanced by means of original USD funding (and not by swaps) will develop as follows from 2016 to 2017: at least 55 % by the end of 2016 and 2017 respectively.
V povezavi z vprašanjem pomoči kupcu Komisija pozitivno pozdravlja nemške zaveze za prodajo OpCo preko odprtega, preglednega in konkurenčnega postopka javnega naročila za prodajo ter po pozitivni ceni do 28. februarja 2018.
[Advertising] HSH will not use the granting of the aid measures or any advantages over competitors arising therefrom for advertising purposes.
Nemčija bo Komisiji po začetku postopka prodaje predložila časovnico z mejniki za spremljanje.
Members are competent if they are reliable and have the expertise required to perform control functions, and to assess and monitor OpCo's business transactions.
Banka sredstev v skladu s točko 4 ne namerava prodati pred koncem junija 2016.
there may be no more than sixteen supervisory board members.
Do prodaje je OpCo še naprej odgovoren za plačilo 2,2 % te osnovne premije.
at least half the seats allocated to the Länder of Hamburg and Schleswig-Holstein will be occupied by external experts.
[Postopek prodaje] HoldCo bo ob upoštevanju točke 5.3 prodal svoje delnice OpCo do 28. februarja 2018 (v nadaljnjem besedilu: prodajni rok) preko odprtega, nediskriminatornega, konkurenčnega in preglednega postopka (v nadaljnjem besedilu: prodajni postopek).
[Remuneration of bodies, employees and vicarious agents]
Prodajni rok se sklene s podpisom prodajne pogodbe.
[Remuneration system] Within the framework of the possibilities under civil law, OpCo will ensure that its remuneration systems do not encourage undue risk-taking, are in harmony with sustainable, long-term company objectives, and are transparent.
priprava postopka (najpozneje do […] [1]);
That obligation will be satisfied if OpCo's remuneration systems meet the requirements in the Annex ‘Obligations of HSH’ to the ‘Contract on the provision of a guarantee framework’ of 2 June 2009.
predložitev začasnih ponudb (najpozneje do […]);
An appropriate bonus can be paid (‘privatisation bonus’) following successful privatisation.
dostop do podatkovne sobe (najpozneje do […]);
[Other rules of conduct] In the context of its lending and investing, OpCo will take into account the borrowing demand of the economy, in particular of small and medium-sized companies (the ‘Mittelstand’), through conditions that are market based and appropriate from a supervisory/banking point of view.
[Uspešen zaključek postopka prodaje] Po uspešnem zaključku postopka prodaje s ponudbo brez pomoči in pozitivno ponudbeno ceno (ob ohranitvi jamstva), bo nameravan nakup priglašen Komisiji, ki bo ocenila uspešnost strukture novega podjetja.
OpCo's commercial policy will be prudent, sound and oriented towards sustainability.
Prodaja ne bo izvedena, dokler Komisija ne bo sprejela sklepa o odobritvi.
OpCo will conduct its banking business in such a way as to retain the value of the assets and businesses, increase the bank's saleability, and ensure that the sales process is as stable as possible.
Čas, ki si ga bo vzela za oceno, ne šteje v obdobje do roka za prodajo.