natgillin/translations-raw huggingface dataset:
Final funding gaps of the three Cooperative Banks
Ponudbi obeh bank sta temeljili na domnevi, da bo GSFS kril tako likvidnostno vrzel kot kapitalske potrebe v zvezi s prenesenimi sredstvi.
(in EUR million)
Na skupino so bili tako preneseni posojila strank (razen tistih, ki stalno zamujajo) in večina denarnih sredstev v blagajni ter nematerialno premoženje in dobro ime, lastninske pravice, pogodbe v zvezi z najemom ali nakupom lastnine, medbančne obveznosti in vloge strank.
Total
Prevzem izbranih sredstev in obveznosti banke Probank
Acquisition of selected assets and liabilities of First Business Bank
Banka Probank je v Grčiji imela mrežo 112 podružnic ter je 31. marca 2013 zaposlovala 1087 ljudi [53].
FB Bank was a small bank with a total balance sheet of EUR 1,4 billion at the time of its resolution, and a market share of less than 1 % in loans and in deposits.
Bilanca stanja banke Probank je 30. junija 2013 znašala približno 3,2 milijarde EUR [54].
FB Bank had 19 branches across Greece and employed 260 employees at 31 December 2012.
Banka Probank je 31. marca 2013 imela 1,1-odstoten tržni delež v posojilih in 1,7-odstoten tržni delež v vlogah.
As illustrated in Table 2, its total PSI-related charge amounted to around EUR 49 million before tax.
Banka Grčije je 26. oktobra 2012 banko Probank zaprosila, naj poveča svoj kapital za 282 milijonov EUR.
As illustrated in Table 3, the capital needs of FB Bank were estimated at EUR 168 million in the stress test of 2012.
Ker banka Probank ni zbrala zahtevanega kapitala, se je Banka Grčije julija 2013 odločila, da prekliče dovoljenje banki Probank in začne postopek njene likvidacije [55].
Acquisition of First Business Bank
Banka Grčije je presodila, da so bili ukrepi reševanja ključnega pomena za ohranitev zaupanja vlagateljev v grški bančni sistem ter za zaščito finančne stabilnosti.
On 8 November 2012, the Bank of Greece requested FB Bank to complete the capital increase by 30 April 2013 in order to restore its Core Tier 1 ratio.
Zaradi takšnih pomislekov o finančni stabilnosti je Banka Grčije nadaljevala z dražbo izbranih sredstev in obveznosti banke Probank, vključno z vlogami.
As FB Bank failed to raise the required capital by 30 April 2013, the Bank of Greece decided to proceed with the withdrawal of the license of FB Bank and put it into liquidation.
Vendar bi prevzem sredstev banke Probank lahko ustvaril dodatne kapitalske potrebe za prevzemnika, kar bi pomenilo, da nobena banka ne bi pristala na prevzem izbranih sredstev in obveznosti.
The Bank of Greece considered that taking resolution measures through a Purchase & Assumption procedure, in particular the financing of the relevant funding gap and the associated coverage of the capital needs related to the transferred assets, was crucial to maintain the depositors' confidence in the Greek banking system and thus to preserve financial stability.
Zato je skupina v svoji končni zavezujoči ponudbi z dne 25. julija 2013 zaprosila, naj GSFS krije kapitalske potrebe, ki so nastale s prevzemom sredstev, prenesenih z banke Probank.
The Bank of Greece estimated that on 31 December 2012 the total amount of customer deposits in FB Bank amounted to approximately EUR 1278 million, of which only EUR 830 million were guaranteed by the HDIGF.
GSFS je pri ocenjevanju prejetih ponudb upošteval zahtevano zavezo za kritje navedenih kapitalskih potreb.
Therefore, if FB Bank had been put into liquidation without the application of resolution measures, around EUR 448 million of deposits would not have been covered.
Znesek navedenih kapitalskih potreb je bil ocenjen na [180 do 280] milijonov EUR [56].
For those financial stability considerations, the Bank of Greece proceeded with the auction of the selected assets and liabilities of FB Bank, including deposits.
Druga večja grška banka je 24. julija 2013 predložila osnutek ponudbe, 25. julija 2013 pa je skupina predložila zavezujočo ponudbo.
However, the acquisition of FB Bank's assets could have created further capital needs for the acquirer and hence no bank would accept to acquire the selected assets and liabilities.
Ponudbi obeh bank sta temeljili na domnevi, da bo GSFS kril tako likvidnostno vrzel kot kapitalske potrebe, ki so nastale zaradi prenesenih sredstev.
On 8 May 2013, only the Bank and another bank submitted non-binding offers.
UKREPI POMOČI
The bids of both banks were based on the understanding that the HFSF would cover both the funding gap and the capital needs related to the transferred assets.
Ukrepi pomoči, dodeljeni skupini v okviru programa pomoči grškim bankam (ukrepa L1 in A)
On 10 May 2013, the Bank submitted its final offer.
Skupina je v okviru ukrepa dokapitalizacije, ukrepa jamstva in ukrepa državnih obligacijskih posojil iz programa pomoči grškim bankam prejela več oblik pomoči.
The Bank of Greece decided to transfer the assets and liabilities of FB Bank to the Bank, whose offer was considered to be the preferred one.
Državna likvidnostna podpora, dodeljena na podlagi ukrepa jamstva in ukrepov državnih obligacijskih posojil (ukrep L1)
The funding gap was covered pursuant to Article 63D(13) of law 3601/2007 by the HFSF, which on 28 June 2013 disbursed the two-thirds of the estimated funding gap, meaning EUR 349,6 million.
Grški organi so v načrtu prestrukturiranja za skupino, ki so ga Komisiji predložili 25. junija 2014, pokazali namen, da v obdobju prestrukturiranja nadaljujejo z dodeljevanjem jamstev in posojanjem državnih obveznic skupini na podlagi programa pomoči grškim bankam.
After the finalisation of the calculation of the funding gap by the Bank of Greece on 7 November 2013 [51] at EUR 457 million, on 13 November 2013 [52] the HFSF paid to the Bank the balance of EUR 107,4 million.
Državna dokapitalizacija, dodeljena okviru ukrepa dokapitalizacije (ukrep A)
Acquisition of selected assets and liabilities of Probank
Skupina je maja 2009 oziroma decembra 2011 od Grčije na podlagi ukrepa dokapitalizacije prejela kapitalska vložka v višini 350 milijonov EUR oziroma 1000 milijonov EUR, kar skupaj znaša 1350 milijonov EUR (ukrep A) in ustreza približno 2 % tveganju prilagojene aktive skupine v tistem času.
Probank had a network of 112 branches across Greece and employed 1087 people [53] at 31 March 2013.
Dokapitalizacija je bila izvedena v obliki prednostnih delnic, ki jih je vpisala Grčija, s kuponom z nominalno obrestno mero 10 % in petletno ročnostjo.
Probank participated in the PSI programme, exchanging GGBs with a face value of EUR 415 million.
Izredna likvidnostna pomoč z državnim jamstvom (ukrep L2)
Acquisition of Probank
Za program izredne likvidnostne pomoči je odgovorna Banka Grčije, kar pomeni, da vse stroške in tveganja, povezana z zagotavljanjem izredne likvidnostne pomoči, nosi Banka Grčije [61].
On 26 October 2012, the Bank of Greece requested Probank to increase its capital by EUR 282 million.
Grčija je Banki Grčije odobrila državno jamstvo za celotni znesek izredne likvidnostne pomoči, ki ga je odobrila Banka Grčije.
As Probank failed to increase its capital, in July 2013 the Bank of Greece decided to proceed with the withdrawal of its license and put it into liquidation [55].
Minister za finance lahko na podlagi člena 50(7) zakona 3943/2011, s katerim je bil spremenjen člen 65(1) zakona 2362/1995, odobri jamstva v imenu države za Banko Grčije, da se zavarujejo terjatve Banke Grčije do kreditnih institucij.
More precisely, the own funds of Probank were negative and were estimated at around EUR – 16 million based on data at 31 March 2013 on a consolidated basis.
Banke, upravičene do izredne likvidnostne pomoči, morajo državi plačati premijo za jamstvo v višini […] bazičnih točk.
Therefore, Probank did not meet its minimum capital requirements and its own funds were lower than the minimum share capital for any bank, as set at Article 5(4)(a) of law 3601/2007.
Skupina je do 31. januarja 2012 prejela izredno likvidnostno pomoč z državnim jamstvom v višini 8,6 milijarde EUR [62], do 31. decembra 2012 pa izredno likvidnostno pomoč z državnim jamstvom v višini 30,9 milijarde EUR [63].
The Bank of Greece considered that resolution measures were crucial to maintain depositors' confidence in the Greek banking system and thus to preserve financial stability.
Ukrepi pomoči, dodeljeni skupini v okviru GSFS (ukrepi B1, B2 in B3)
The Bank of Greece estimated that on 31 March 2013 the total amount of customer deposits in Probank amounted to approximately EUR 3123 million, of which only EUR 1998 million were guaranteed by the HDIGF.
Skupina je od leta 2012 prejela pomoč v okviru različnih ukrepov kapitalske podpore, ki jih je odobril GSFS.
Therefore, if Probank had been put into liquidation without the application of resolution measures, around EUR 1125 million of deposits would not have been covered.
Preglednica 7 vsebuje pregled navedenih ukrepov pomoči.
For those financial stability considerations, the Bank of Greece proceeded with the auction of selected assets and liabilities of Probank, including deposits.
Preglednica 7
The amount of those capital needs was estimated at EUR [180 to 280] million [56].
Dokapitalizacija iz pomladi 2013 – maj 2013 (v milijonih EUR)
On 24 July 2013 another large Greek bank submitted a draft offer and on 25 July 2013 the Bank submitted its offer.
Ukrep
The bids of both banks were based on the understanding that the HFSF would cover both the funding gap and the capital needs created by the transferred assets.
Znesek
The Bank of Greece decided to transfer the assets and liabilities of Probank to the Bank, whose offer was considered to be the preferred one.
(v milijonih EUR)
Customer loans (other than the loans permanently in arrears) and most cash balances, as well as intangible assets and goodwill, property rights, contracts related to the lease or purchase of property, interbank liabilities and customer deposits were transferred to the Bank.
Prva premostitvena dokapitalizacija (ukrep B1)
According to the initial assessment of the Bank of Greece at the time of the resolution [57], the value of the liabilities transferred from Probank to the Bank was estimated at EUR 3198,9 million while the value of the transferred assets was estimated at EUR 2961,4 million, the difference being the funding gap of EUR 237,6 million.
Uvodne izjave 14 do 33 sklepa o začetku postopka za skupino NBG vsebujejo podroben opis prve premostitvene dokapitalizacije iz maja [64] 2012 (ukrep B1).
The funding gap was covered pursuant to Article 63D(13) of law 3601/2007 by the HFSF, which on 9 August 2013, disbursed in cash two-thirds of the estimated funding gap, meaning EUR 158,4 million.
V tem oddelku so predstavljeni ozadje in glavne lastnosti navedenega ukrepa.
Aid measures granted to the Bank under the Greek Banks Support Scheme (measures L1 and A)
Oba zneska, tj. znesek, naveden v pismu o zavezi, in znesek prve premostitvene dokapitalizacije, je izračunala Banka Grčije za zagotovitev, da bo skupina na dan 31. decembra 2011, tj. datum retroaktivnega knjiženja premostitvene dokapitalizacije v izkaze banke, dosegla 8-odstotni količnik celotnega kapitala.
The Bank obtained several forms of aid under the recapitalisation measure, the guarantee measure and the government bond loan measure of the Greek Banks Support Scheme.
Za obdobje od datuma prve premostitvene dokapitalizacije do datuma pretvorbe prve premostitvene dokapitalizacije v navadne delnice in druge zamenljive finančne instrumente je bilo v sporazumu za obdobje pred vpisom med skupino in GSFS določeno, da mora skupina GSFS plačati 1-odstotno letno provizijo na nominalno vrednost obveznic EFSF ter da se bodo kakršna koli izplačila kuponov in natečene obresti na obveznice EFSF za navedeno obdobje štele za dodatni kapitalski prispevek GSFS skupini [65].
State liquidity support granted under the guarantee measure and the government bond loan measures (measure L1)
Druga premostitvena dokapitalizacija (ukrep B2)
The Bank has benefited and continues to benefit from aid under the guarantee measure and the government bond loan measures.
Skupina je jeseni 2012 zabeležila dodatne izgube.
That aid will be described in this Decision as ‘measure L1’.
Njen kapital je bil torej znova manjši od minimalnih kapitalskih zahtev, zaradi česar banka ni bila več upravičena do refinanciranja ECB.
As of 30 November 2013 [60], the guarantees granted to the Bank amounted to around EUR 14,8 billion.
Zato je bila potrebna druga premostitvena dokapitalizacija.
At that date, the outstanding loans of government bonds to the Bank amounted to EUR 847 million.
GSFS je 21. decembra 2012 izvedel drugo premostitveno dokapitalizacijo v višini 2326 milijonov EUR (ukrep B2), ki je bila ponovno plačana s prenosom obveznic instrumenta EFSF na skupino.
As of 15 April 2011, the Bank had received loans of government bonds amounting to EUR 787 million and State guarantees amounting to EUR 12,9 billion.
Skupni znesek obeh premostitvenih dokapitalizacij (ukrepa B1 in B2) je pomenil, da je GSFS 21. decembra 2012 že izplačal skupne kapitalske potrebe, ki so bile ugotovljene v stresnem testu iz leta 2012 (9,76 milijarde EUR [66]).
In the restructuring plan for the Bank submitted by the Greek authorities to the Commission on 25 June 2014, the Greek authorities signalled their intention to continue granting guarantees and lending government bonds to the Bank under the Greek Banks Support Scheme during the restructuring period.
Udeležba GSFS v dokapitalizaciji iz pomladi 2013 (ukrep B3)
State recapitalisation granted under the recapitalisation measure (measure A)
Upravni odbor skupine je 22. maja 2013 napovedal izdajo 2274,1 milijona novih delnic z nominalno vrednostjo 0,30 EUR po ceni 4,29 EUR na delnico [67].
In May 2009 and December 2011, the Bank received from Greece under the recapitalisation measure capital injections of EUR 350 million and EUR 1000 million respectively, totalling EUR 1350 million (measure A), equivalent to around 2 % of the risk weighted assets (‘RWA’) of the Bank at that time.
Skupina je 21. junija 2013 [68] napovedala celotno izplačilo skupnega povečanja delniškega kapitala v skupnem znesku 9756 milijonov EUR, vključno s premijskimi zneski.
The recapitalisation took the form of preference shares subscribed by Greece which had a coupon of 10 % and a maturity of five years.
Skupna zasebna udeležba v povečanju delniškega kapitala skupine je znašala 1079 milijonov EUR [69].
In 2010 the duration of the preference shares was extended while their remuneration was increased.
Udeležba GSFS v povečanju delniškega kapitala skupine je torej znašala 8677 milijonov EUR (ukrep B3).
From the end of the initial five-year period, if the preference shares are not redeemed and no decision has been taken by the general meeting of shareholders as to the redemption of those shares, the Greek Minister of Finance will increase the coupon by 2 % a year on a cumulative basis (that is to say, a coupon of 12 % for year six, 14 % for year seven, etc.…).
Znesek je enak vsoti ukrepov B1 in B2 po odbitku zneska zasebne udeležbe.
State-guaranteed ELA (measure L2)
S povečanjem delniškega kapitala skupine sta bili prva in druga premostitvena dokapitalizacija (ukrep B1 in B2) delno pretvorjeni v trajno dokapitalizacijo.
ELA is an exceptional measure enabling a solvent financial institution, facing temporary liquidity problems, to receive Eurosystem funding without such an operation being part of the single monetary policy.
Cena novih delnic je bila določena na 50 % cene delnice, izračunane na podlagi povprečja obsega trgovanja v 50 trgovalnih dneh pred določitvijo ponudbene cene.
The interest rate paid by such a financial institution for ELA is […] basis points (‘bps’) higher than the interest it pays for regular ECB refinancing.
Zaradi odločitev o združevanju delnic in znižanju delniškega kapitala skupine, ki sta bili sprejeti na izredni generalni skupščini delničarjev 29. aprila 2012 [70], je bila cena novih delnic določena na 4,29 EUR na delnico.
The Bank of Greece is responsible for the ELA programme, which means that any cost of, and the risks arising from, the provision of ELA are incurred by the Bank of Greece [61].
GSFS je takoj po dokapitalizaciji iz pomladi 2013 postal glavni delničar skupine s 84,39-odstotnim deležem [71].
Greece granted the Bank of Greece a State guarantee which applies to the total amount of ELA granted by the Bank of Greece.
GSFS je izdal 245779,6 milijona nakupnih bonov in zasebnim vlagateljem dodelil en nakupni bon za vsako vpisano delnico brez plačila [72].
The adoption of Article 50(7) of law 3943/2011, which amended Article 65(1) of law 2362/1995, allowed the Minister of Finance to grant guarantees on behalf of the State to the Bank of Greece in order to safeguard the Bank of Greece's claims against the credit institutions.
Vsak nakupni bon vključuje pravico do nakupa 8,23 delnice GSFS v določenih razdobjih in po določenih izvršilnih cenah.
The banks benefiting from ELA have to pay a guarantee fee to the State amounting to […] bps.
Zakon o GSFS, kot je bil spremenjen leta 2014, določa, da se v primeru izdaje pravic prilagodijo le izvršilne cene nakupnih bonov.
At 31 January 2012 the Bank had benefited from EUR 8,6 billion of State-guaranteed ELA [62], while at 31 December 2012 the Bank had benefited from EUR 30,9 billion of State-guaranteed ELA [63].
Poleg tega mora biti vsaka taka prilagoditev izvedena naknadno in samo do zneska ustvarjenega prihodka od prodaje predkupnih pravic GSFS.
Aid measures granted to the Bank through the HFSF (measures B1, B2 and B3)
Prilagoditev ni predvidena v primeru povečanja delniškega kapitala brez predkupne pravice.
Since 2012, the Bank has benefited from several capital support measures granted by the HFSF.
Ukrepi pomoči, povezani s prevzetimi podjetji
Table 7 provides an overview of those aid measures.
Državna podpora za tri zadružne banke
Table 7
Kot je že bilo omenjeno v oddelku 2.2.1, je likvidnostne vrzeli bank Lesvos-Limnos, Achaia oziroma Lamia, ki so znašale 56,6 milijona EUR, 212,9 milijona EUR oziroma 56,3 milijona EUR, kril GSFS.
Aid measures granted to the Bank through the HFSF
Skupni znesek likvidnostnih vrzeli je bil torej 325,8 milijona EUR.
1st bridge recapitalisatio — May 2012 (EUR million)
Ukrepi pomoči za banko FB
2nd bridge recapitalisation — Dec 2012 (EUR million)
Banka FB je bila od leta 2009 deležna številnih ukrepov pomoči.
Spring 2013 recapitalisation — May 2013 (EUR million)
Preglednica 8 vsebuje pregled navedenih ukrepov pomoči.
Measure
Preglednica 8
Amount
Pregled ukrepov pomoči za banko FB
The first bridge recapitalisation (measure B1)
Poimenovanje
Recitals 14 to 33 of the NBG Opening Decision give a detailed description of the first bridge recapitalisation of May [64] 2012 (measure B1).
Subjekt, ki je dodelil pomoč
The background and main features of that measure are set out in this section.
Datum
On 20 April 2012, the HFSF provided a letter to the Bank committing to participate in a planned share capital increase of the Bank for an amount of up to EUR 6,9 billion.
Znesek državne pomoči (v milijonih EUR)
Under measure B1, the HFSF transferred EUR 7,4 billion of EFSF bonds to the Bank on 28 May 2012, in line with the provisions for bridge recapitalisations laid down in the law 3864/2010 establishing the HFSF (the ‘HFSF law’).
Dejavnosti banke FB
The Commission has already established in recital 50 of the NBG Opening Decision that ‘The bridge recapitalisation finalised on 28 May 2012 is the implementation of the obligation undertaken in the commitment letter and thus a continuation of the same aid’.
Prednostne delnice, dodeljene na podlagi programa pomoči grškim bankam
Both the amounts provided in the commitment letter and in the first bridge recapitalisation were calculated by the Bank of Greece to ensure the Bank reached a total capital ratio of 8 % at 31 December 2011, the date of retroactive booking of the bridge recapitalisation in the Bank's records.
Država
As can be seen from Table 3, measure B1 did not cover entirely the capital needs identified by the stress test of 2012.
julij 2009
The Bank was supposed to raise the capital through a future capital increase and the bridge recapitalisation was only intended to preserve the Bank's eligibility for ECB financing until that capital increase had taken place.
Posojilo grških državnih obveznic na podlagi programa pomoči grškim bankam
For the period between the date of the first bridge recapitalisation and the date of the conversion of the first bridge recapitalisation into ordinary shares and other convertible financial instruments, the pre-subscription agreement between the Bank and the HFSF stipulated that the Bank had to pay to the HFSF a 1 % annual fee on the nominal value of the EFSF notes and that any coupon payments and accrued interest to the EFSF notes for that period would count as an additional capital contribution by the HFSF to the Bank [65].
od januarja 2009
The second bridge recapitalisation (measure B2)
Državno jamstvo za izdane obveznice na podlagi programa pomoči grškim bankam
The Bank booked further losses in the autumn of 2012.
marec 2011
Its capital therefore fell again below the minimum capital requirements for it to remain eligible for ECB refinancing.
Financiranje likvidnostne vrzeli za sredstva, prenesena z banke FB na skupino
A second bridge recapitalisation became necessary as a result.
(datum reševanja)
On 21 December 2012, the HFSF implemented a second bridge recapitalisation of EUR 2326 million (measure B2), which was again paid by transferring EFSF bonds to the Bank.
Zaveza za kritje kapitalskih potreb v zvezi s sredstvi, prenesenimi z banke FB na skupino
The total of the two bridge recapitalisations (measures B1 and B2) meant that the total capital needs identified by the stress test of 2012 (EUR 9,76 billion [66]) were already disbursed by the HFSF at 21 December 2012.
Skupni znesek FB4 in FB5
HFSF's participation in the Spring 2013 recapitalisation (measure B3)
Državna dokapitalizacija, ki jo je prejela banka FB (ukrep FB1)
On 22 May 2013 the Board of Directors of the Bank announced the issue of 2274,1 million new shares with a nominal value of EUR 0,30 at a price of EUR 4,29 per share [67].
Grčija je julija 2009 v banko FB vložila 50 milijonov EUR, kar je enako približno 3 % njene tveganju prilagojene aktive v zadevnem času.
On 21 June 2013 [68] the Bank announced the full payment of the total increase in shares for a total amount of EUR 9756 million, including premium amounts.
Navedeni kapitalski vložek je bil izveden na podlagi ukrepa dokapitalizacije, ki je del programa pomoči grškim bankam.
The participation of the HFSF in the share capital increase of the Bank therefore amounted to EUR 8677 million (measure B3).
Državna likvidnostna podpora, ki jo je prejela banka FB (ukrepa FB2 in FB3)
That amount is equal to the sum of measures B1 and B2, after deduction of the amount of private participation.
Banka FB je imela koristi tudi od likvidnostne podpore na podlagi ukrepa jamstva in ukrepov državnih obligacijskih posojil, ki so del programa pomoči grškim bankam.
By means of the Bank's share capital increase, the first and second bridge recapitalisations (measures B1 and B2) were partially converted into a permanent recapitalisation.
Januarja 2009 je banka FB prejela grške državne vrednostne papirje v višini 60 milijonov EUR, ki so zapadli decembra 2011 (ukrep FB2).
The price of new shares was set at 50 % of the volume-weighted average stock price over the 50 trading days preceding the determination of the offer price.
Maja 2012 je prejela grške državne vrednostne papirje v višini 60 milijonov EUR, ki naj bi zapadli aprila 2015, vendar so bili 23. maja 2013 preklicani (ukrep FB3) [74].
As a result of a reverse stock split and of a reduction of the Bank's share capital, both decided by the extraordinary general meeting of shareholders on 29 April 2012 [70], the price of new shares was set at EUR 4,29 per share.
Marca 2011 je banka FB prejela tudi državno jamstvo za izdane obveznice z nominalno vrednostjo 50 milijonov EUR.
Immediately after the Spring 2013 recapitalisation, the HFSF became the majority shareholder of the Bank with a stake of 84,39 % [71].
Ukrepi, povezani z reševanjem banke FB (ukrepa FB4 in FB5)