natgillin/translations-raw huggingface dataset:
Growth rate of gross loans for the Greek banking activities: The growth rate of the gross loans shall not be higher than the growth rate of the market as reported by the Bank of Greece, unless the market growth rate is below the Commission’s projections (see Appendix) on which the restructuring plan is based.
Ker so se grške banke zaradi programa PSI in nadaljevanja recesije spopadale z velikimi kapitalskimi primanjkljaji, so bila z memorandumom o gospodarskih in finančnih politikah (v nadaljnjem besedilu: MEFP) drugega programa prilagoditve za Grčijo, ki so ga 11. marca 2012 sklenili grška vlada, Evropska unija, MDS in ECB, zagotovljena sredstva za dokapitalizacijo navedenih bank.
In such case, the loan growth cap can be revised, taking into account macroeconomic conditions and competition in the Greek banking sector.
Grški organi so skupne potrebe po dokapitalizaciji bank in stroške reševanja, ki naj bi se financirali na podlagi navedenega programa, ocenili na 50 milijard EUR [17].
That Commitment shall be monitored on a yearly basis.
Ključne komponente ocene kapitalskih potreb na podlagi stresnega testa iz leta 2013 so bile (i) napovedi kreditne izgube [24] za portfelje posojil bank na konsolidirani podlagi za grško in tuje tveganje, brez obstoječih rezervacij za posojila, ter (ii) ocenjena donosnost iz poslovanja bank za obdobje od junija 2013 do decembra 2016 na podlagi zadržane prilagoditve načrtov prestrukturiranja, ki so bili Banki Grčije predloženi v četrtem četrtletju 2013.
Support to foreign subsidiaries: For each foreign subsidiary, from the Effective Date until 30 June 2018, the Bank shall not provide additional equity or subordinated capital for an amount higher than the lesser of (i) […]% of the RWA of that subsidiary as calculated on 31 December 2012 or (ii) EUR […] million on aggregate for all foreign subsidiaries (cumulatively between 30 June 2013 and 30 June 2018).
V preglednici 4 je povzet izračun kapitalskih potreb za glavne grške banke na konsolidirani podlagi v osnovnem scenariju za stresni test iz leta 2013.
If the Bank intends to inject equity or subordinated debt to the foreign subsidiary for an amount higher than the defined threshold, it must request the Greek authorities to seek a Commission decision to amend the restructuring plan […].
Banka Piraeus je sodelovala v programu PSI, v katerem je izmenjala GDO in državna posojila z nominalno vrednostjo v višini 7,7 milijarde EUR.
Deleverage of non-Greek assets by 30 June 2018: The Greek authorities commit that the Bank shall fulfil at least one of the following two conditions at 30 June 2018:
Njeni skupni stroški v zvezi s PSI so znašali približno 5911 milijonov EUR pred obdavčitvijo in so bili v celoti knjiženi v izkazih za leto 2011 [29].
The total size of the portfolio of foreign assets shall be reduced to a maximum amount of EUR […] billion.
Iz preglednice 5 je razvidno, da je imela banka Piraeus poleg velikih izgub, ki jih je leta 2011 vknjižila zaradi programa PSI (5911 milijonov EUR [33]), do sredine leta 2012 težave zaradi upadanja prihodkov (med drugim zaradi višjih stroškov vlog) ter visokih in rastočih izgub zaradi oslabitve njenega portfelja posojil v Grčiji in tujini.
If the Bank engages in […], this cap of EUR […] billion shall be increased to EUR […] billion.
Likvidnostni položaj banke so močno prizadeli odlivi vlog.
The Bank shall have divested […]
Poleg tega je banka ATE prejela likvidnostno pomoč v višini 6103 milijonov EUR.
Sale of […]: […]
Komisija je navedene ukrepe odobrila v sklepu o prestrukturiranju banke ATE.
Sale of securities: The portfolio of listed securities, defined as follows, shall be divested by […] while the portfolio of unlisted securities shall be divested by […]: these portfolios include all equity investments larger than EUR […] million, as well as all investments in subordinated bonds and hybrid bonds.
Kot je prikazano v preglednici 2, so njeni skupni stroški v zvezi s PSI znašali približno 4329 milijonov EUR pred obdavčitvijo in so bili v celoti knjiženi v izkazih za leto 2011.
This commitment shall not apply to the participations in foreign subsidiaries or to investments in the following entities:
Kot je prikazano v preglednici 3, so bile kapitalske potrebe prenesenih dejavnosti banke ATE ocenjene na 4920 milijonov EUR.
For any sale performed to comply with the sale or divestment commitments included in this document, the Hellenic Republic commits that:
Navedeni znesek je bil najprej ocenjen na 500 milijonov EUR, vendar je bil končni znesek določen na 570 milijonov EUR.
The Purchaser shall be independent of and unconnected to the Bank;
GSFS je v banko Piraeus vložil končni znesek v zameno za navadne delnice v okviru dokapitalizacije iz pomladi 2013.
For the purpose of acquiring the Divestment Business, the Purchaser shall not be financed directly or indirectly by the Bank [3];
Banka Geniki je bila ustanovljena leta 1937.
The Bank shall, for a period of 5 years after the closing of the sale, not acquire direct or indirect influence over the whole or part of the Divestment Business without a pre-approval from the Commission.
Zagotavljala je finančne storitve v sektorjih bančnega poslovanja za prebivalstvo, bančnega poslovanja za podjetja in storitev kapitalskega trga.
Investment policy: Until 30 June 2017, the Bank shall not purchase non-investment grade securities.
Banka Geniki je imela na dan 31. decembra 2012 104 podružnice in 1391 zaposlenih [38].
This Commitment shall not apply to the following securities (the Exempted Securities): […]
Skupna sredstva so znašala 2,6 milijarde EUR, skupna neto posojila 1,9 milijarde EUR in vloge približno 2 milijardi EUR [39].
Salary cap: Until […], the Bank will not pay to any employee or manager a total annual remuneration (wage, pension contribution, bonus) higher […].
Kot je prikazano v preglednici 2, so skupni stroški banke Geniki v zvezi s PSI znašali približno 292 milijonov EUR pred obdavčitvijo in so bili v celoti knjiženi v njenih izkazih za leto 2011.
In case of a capital injection from HFSF, the remuneration cap will be re-evaluated in line with the European Banking Communication of 1 August 2013.
Kot je prikazano v preglednici 3, je bil znesek kapitalskih potreb banke Geniki ocenjen na 281 milijonov EUR in izračunan na podlagi stresnega testa, ki ga je opravila Banka Grčije.
CHAPTER III.
Société Générale je nazadnje privolila v predplačilo v višini približno 290 milijonov EUR za banko Geniki in vpis obveznice, ki jo je izdala banka Piraeus, v znesku približno 170 milijonov EUR.
COMMITMENTS ON CORPORATE GOVERNANCE AND COMMERCIAL OPERATIONS – PROLONGATION AND AMENDMENTS
Banka Piraeus je nato banko Geniki prevzela za 1 milijon EUR.
The Bank shall continue to implement the Commitments on Corporate Governance and Commercial Operations, as submitted by the Hellenic Republic on 20 November 2012, with the subsequent amendments provided in Chapter III of the Commitments, until 30 June 2018.
Sredstva, prenesena na banko Piraeus, so znašala približno 18,9 milijarde EUR, obveznosti pa približno 15 milijard EUR.
In case an individual Commitment does not apply at the Bank’s level, the Bank shall not use the subsidiaries or activities not covered by that individual Commitment to circumvent the Commitment.
Vendar so se stranke posla dogovorile, da bodo upoštevale znesek izgub, ki je bil napovedan v poročilu PIMCO za banke na Cipru na podlagi neugodnega scenarija [41].
Section A.
Glede na poročilo PIMCO je vrednost sredstev, ki bi bila prenesena na banko Piraeus, znašala približno 16,5 milijarde EUR.
Setting up an efficient and adequate internal organisation
Prenesene obveznosti so znašale približno 14,5 milijarde EUR.
The Bank, excluding its foreign subsidiaries, shall abide at all times with the totality of the provisions of law 3016/2002 on Corporate Governance and law 2190/1920 on the Sociétés Anonymes and especially the provisions in connection to the functions of corporate bodies such as the shareholders’ meeting and Board of Directors in order to secure a clear distribution of responsibilities and transparency.
Skupno plačilo banke Piraeus za prevzem ciprskih prenesenih dejavnosti je bilo 524 milijonov EUR.
The powers of the shareholders’ meeting shall be restricted to the tasks of a general meeting in line with company law, in particular as regards rights related to information.
Zlasti je bilo dogovorjeno, da bo banka Piraeus plačala 237 milijonov EUR za prevzem prenesenih dejavnosti Bank of Cyprus, 258 milijonov EUR za prevzem prenesenih dejavnosti Cyprus Popular Bank in 29 milijonov EUR za prevzem prenesenih dejavnosti Hellenic Bank.
More extensive powers, which would allow improper influence on management, shall be rescinded.
Banka MBG je bila ustanovljena leta 2000.
Responsibility for day-to-day operational management shall clearly rest with the executive Directors of the Bank.
Na dan 31. decembra 2012 je imela 119 podružnic in 1174 zaposlenih [43].
The Bank, excluding its foreign subsidiaries, shall comply at all times with the Hellenic Financial Stability Fund (the ‘HFSF’) Relationship Framework.
Kot je razvidno iz preglednice 3, je ukrep B1 kril le del celotnih kapitalskih potreb, opredeljenih s stresnim testom iz leta 2012.
The Bank shall abide by the provisions of Governor’s Act 2577/9.3.2006, as in force, in order to maintain, on an individual and a group basis, an effective organisational structure and an adequate Internal Control System including the three key pillars, namely the Internal Audit, Risk Management and Compliance functions and best international corporate governance practices.
Banka Piraeus naj bi kapital zbrala s prihodnjim povečanjem kapitala, premostitvena dokapitalizacija pa je bila namenjena le ohranjanju upravičenosti banke do financiranja ECB, dokler se ne bi izvedlo navedeno povečanje kapitala.
The Bank shall have an efficient organisational structure, so as to ensure that the Internal Audit and the Risk Management departments are fully independent from commercial networks and report directly to the Board of Directors.
Prvi izvršilni datum je bil 2. januar 2014, nato pa se lahko nakupni boni izvršujejo vsakih šest mesecev do 2. januarja 2018.
An Audit Committee and a Risk Committee — created within the Board of Directors — shall assess all issues raised by those respective departments.
Izvršilna cena je enaka vpisni ceni v višini 1,70 EUR, povečani za letno obrestno mero (4 % za prvo leto, 5 % za drugo leto, 6 % za tretje leto, 7 % za četrto leto in nato 8 % anualizirano za zadnjih šest mesecev) [58].
An adequate Internal Audit Charter and Risk Management Charter shall specify the roles, responsibilities and resources of those departments.
Banka Piraeus namerava v obdobju od decembra 2013 do konca leta 2017 v Grčiji dodatno zmanjšati število zaposlenih (s 16558 na […] zaposlenih) in velikost svoje mreže (s 1037 na […] podružnic) [60].
Those charters shall comply with international standards and secure a full independence to the departments.
Banka Piraeus pričakuje, da bo lahko plačevala nižje obrestne mere za svoje vloge glede na stabilnejše razmere ter zlasti pričakovano stabilizacijo in okrevanje grškega gospodarstva, katerega rast se znova pričakuje od leta 2014 naprej.
A Credit Policy shall provide guidance and instructions regarding the granting of loans, including the pricing of loans and the restructuring of loans.
Razmiki za vloge naj bi se v Grčiji zmanjšali [63].
The Bank shall make public to the competent authorities the list of shareholders holding at least 1 % of ordinary shares.
Kot je navedeno v uvodni izjavi 104, je banka Piraeus uspela tudi zbrati kapital zasebnih vlagateljev na podlagi dokapitalizacije iz pomladi 2013.
Section B.
Z dokapitalizacijo iz pomladi 2013 se je tudi zelo zmanjšal delež prejšnjih delničarjev, saj je GSFS po dokapitalizaciji iz pomladi 2013 imel 81 % delnic banke Piraeus, novi vlagatelji 17 %, prejšnjim delničarjem pa je ostal le 2-odstotni delež.
Commercial practices and risk monitoring
Banka Piraeus je marca 2012 ponudila odkup nekaterih hibridnih instrumentov in instrumentov nižjega drugega reda.
General principles
Cena, ki je bila določena na podlagi tržne vrednosti in je vključevala premijo največ desetih odstotnih točk, je bila določena na 37 % nominalne vrednosti za hibridni instrument in 50 % nominalne vrednosti za instrument nižjega drugega reda.
The Credit Policy shall specify that all customers shall be treated fairly through non-discriminatory procedures other than those related to credit risk and ability to pay.
Stopnji udeležbe sta bili 52,8 % oziroma 18,2 %.
The Credit Policy defines the thresholds above which the granting of loans must be approved by higher levels of management.
Največje razmerje med neto posojili in vlogami bo izpolnjevala na dan 31. decembra 2017 [77].
Similar thresholds shall be defined regarding the restructuring of loans and the handling of claims and litigations.
Ukrep je bil torej odobren marca 2013.
The Credit Policy shall centralise in selected centres the decision-making process at national level, and provide clear safeguards to ensure a consistent implementation of its instructions within all the Greek banking activities.
Dejanska dokapitalizacija je bila izvedena v okviru dokapitalizacije iz pomladi 2013 [89].
For all the Greek banking activities, the Bank shall fully incorporate the Credit Policy rules in their loan origination and loan refinancing workflow and disbursement systems.
Banka Piraeus je leta 2011 izdala obveznice z državnim jamstvom v skupnem znesku 9,9 milijarde EUR.
Specific provisions
Grčija ji je posodila tudi 1289 milijonov EUR v državnih obveznicah.
The specific provisions listed in paragraphs (8) to (18) of Chapter III of the Commitments shall apply to the Greek banking activities, unless explicitly stated otherwise.
Na dan 31. decembra 2012 je znašal približno 31,4 milijarde EUR.
The Credit Policy shall require that the pricing of loans and mortgages to comply with strict guidelines.
Po močnem upadu leta 2013 je ob koncu navedenega leta znašal še samo 750 milijonov EUR.
Those guidelines shall include the obligation to respect strictly the credit policy’s standard tables of interest rate bands (ranges) depending on the maturity of the loan, the credit risk assessment of the customer, the expected recoverability of pledged collateral (including the time frame to a potential liquidation), the overall relationship with the Bank (e.g. level and stability of deposits, fee structure and other cross-sales activities) and the funding cost of the Bank.
GSFS svoja sredstva prejema od države.
Specific loan asset classes are generated (e.g. commercial loan, mortgage, secured/unsecured, etc.) and their pricing framework is tabulated to an appropriate Credit Policy table that shall be updated on a regular basis by the Credit Committee.
S pismom so torej obljubljena državna sredstva.
Any exception must be duly authorised by the Credit Committee, or at lower level of authority when allowed by the Credit Policy.
Ukrepi B1, B2 in B3 so bili odobreni v obdobju enega leta, tj. od aprila 2012 do maja 2013.
Tailor-made transactions such as syndicated loans or project finance shall respect the same principles, with due account being taken of the fact that they may not fit in standardised credit policy tables.
V navedenem obdobju se je RWA banke Piraeus po zaporednih prevzemih zelo povečal.
Infringements of that pricing policy shall be reported to the Monitoring Trustee.
Z drugimi besedami, kapitalske potrebe, ki naj bi se krile z navedenimi ukrepi državne podpore, so obstajale že marca 2012.
The Risk Management Department shall be responsible for the assessment of credit risk and the valuation of collateral.
Komisija zato meni, da bi bilo treba znesek pomoči, vključen v ukrepe B1, B2 in B3, primerjati z RWA banke Piraeus na dan 31. marca 2012.
When assessing the loan quality, the Risk Management Department shall act independently, providing its written opinion so as to ensure that criteria used in the assessment are applied consistently over time and among customers and in respect of the Bank’s credit policy.
Opozoriti je treba tudi, da Banka Grčije po marcu 2012 in do dokapitalizacije iz pomladi 2013 ni upoštevala prevzemov, ki so jih opravile grške banke, da bi njihove kapitalske potrebe prilagodila navzgor ali navzdol.
Regarding loans to individuals and legal entities, for all the Greek banking activities, on the basis of the best international practices, the Bank shall apply strict individual and aggregated limits governing the maximum loan amount that can be granted to a single credit risk (if at all allowed under Greek and EU law).
Dokapitalizacija iz leta 2009 v obliki prednostnih delnic (ukrep A) je bila odobrena na podlagi ukrepa dokapitalizacije iz programa pomoči grškim bankam, ki je bil odobren leta 2008 na podlagi sporočila o bančništvu iz leta 2008.
Those limits shall take into account the maturity of the loan and the quality of any collateral/security provided and shall be set against key benchmarks including against capital.
Zato je ni treba ponovno ocenjevati na podlagi sporočila o bančništvu iz leta 2008, ampak jo je treba oceniti samo na podlagi sporočila o prestrukturiranju.
Granting loans [4] to enable borrowers to purchase shares or hybrid instruments of the Bank and other banks [5] shall be prohibited, whoever are those borrowers [6].
Združljivost ELA z državnim jamstvom (ukrep L2) je treba najprej oceniti na podlagi sporočila o bančništvu iz leta 2008 in sporočila o podaljšanju iz leta 2011.
This provision shall apply and shall be monitored at the Bank’s level.
Kakršna koli ELA z državnim jamstvom, dodeljena brez predhodne odobritve Komisije po 31. juliju 2013, spada na področje uporabe sporočila o bančništvu iz leta 2013.
All loan requests by non-connected borrowers greater than [[…]% of the Bank’s RWA] or any loan which keeps the exposure to one group (defined as a group of connected borrowers that represent a single credit risk) higher than [[…]% of the Bank’s RWA] shall be reported to the Monitoring Trustee, which may, if the conditions do not appear to be set at arm’s-length or if no sufficient information has been provided to the Monitoring Trustee, postpone the granting of the credit line or the loan by […] working days.
Združljivost dokapitalizacij iz GSFS (ukrepi B1, B2, B3 in B4), zlasti kar zadeva nadomestilo, je treba najprej oceniti na podlagi sporočila o bančništvu iz leta 2008, sporočila o dokapitalizaciji in sporočila o podaljšanju iz leta 2011.
In emergency cases, that period may be reduced to […] working days provided sufficient information has been provided to the Monitoring Trustee.
Komisija je v sklepu o začetku postopka Piraeus izrazila dvome glede združljivosti ukrepa B1 z navedenimi sporočili.
That period will enable the Monitoring Trustee to report the case to the Commission and the HFSF before any definitive decision is taken by the Bank.
Ker so bili navedeni ukrepi izvedeni pred 1. avgustom 2013, ne spadajo na področje uporabe sporočila o bančništvu iz leta 2013.
The Credit Policy shall give clear instructions on the restructuring of loans.
Združljivost dokapitalizacij iz GSFS (ukrepi B1, B2, B3 in B4) je treba oceniti tudi na podlagi sporočila o prestrukturiranju.
It clearly defines which loans are eligible, under which circumstances, and indicates the terms and conditions that can be proposed to eligible customers.
Predvsem je razlika med prvimi in zadnjimi višja od ravni premije za jamstva, ki se zahteva s sporočilom o podaljšanju iz leta 2011.
For all the Greek banking activities, the Bank shall ensure that all restructurings aim at enhancing the future recoveries by the Bank, thus safeguarding the interest of the Bank.
Zato je mogoče nadomestilo, ki ga je zaračunala država, šteti za zadostno.
In no case the restructuring policy will jeopardise the future profitability of the Bank.
Ukrep L2 je torej v skladu s sporočilom o bančništvu iz leta 2008 in sporočilom o podaljšanju iz leta 2011.
For that purpose, the Bank’s Risk Management Department shall be responsible for developing and deploying adequate restructuring effectiveness reporting mechanisms, for performing in-depth analyses of internal and/or external best practices, reporting its findings at least on a quarterly basis to the Credit Committee and the Board Risk Committee, suggesting actionable improvements to the processes and policies involved and oversee and reporting on their implementation to the Credit Committee and the Board Risk Committee.
Ker s sporočilom o bančništvu iz leta 2013 niso bile uvedene dodatne zahteve v zvezi z jamstvi, je ukrep L2 skladen tudi s sporočilom o bančništvu iz leta 2013.
For all the Greek banking activities, the Bank shall enact a claim and litigation policy aiming at maximising recovery and preventing any discrimination or preferential treatment in the management of litigations.
Pred dokapitalizacijo banke Piraeus iz pomladi 2013 je njena tržna kapitalizacija znašala le nekaj sto milijonov EUR.
The Bank shall ensure that all necessary actions are taken to maximise the recoveries for the Bank and protect its financial position in the long-term.
V takih okoliščinah se postavlja vprašanje, ali bi bilo treba obstoječe delničarje v celoti izbrisati.
Any breach in the implementation of that policy shall be reported to the Monitoring Trustee.
GSFS je izdal tudi nakupne bone in je za vsako novo delnico, ki jo je vpisal zasebni vlagatelj, udeležen v dokapitalizaciji iz pomladi 2013, odobril en nakupni bon.
The Bank shall monitor credit risk through a well-developed set of alerts and reports, which enable the Risk Management Department to: (i) identify early signals of loan impairment and default events; (ii) assess recoverability of the loan portfolio (including but not limited to alternative repayment sources such as co-debtors and guarantors as well as collateral pledged or available but not pledged); (iii) assess the overall exposure of the Bank on an individual customer or on a portfolio basis; and (iv) propose corrective and improvement actions to the Board of Directors as necessary.
GSFS je navedene nakupne bone podelil brezplačno.
The Monitoring Trustee shall be given access to that information.
Ker so bili navedeni nakupni boni ključni dejavnik pri uspehu nove izdaje delnic s pravico prednostnega nakupa in zasebnega plasiranja, ki ju je banka Piraeus uvedla v okviru dokapitalizacije iz pomladi 2013, Komisija meni, da so navedeni nakupni boni banki Piraeus omogočili, da je znesek pomoči zmanjšala za 1444 milijonov EUR.
Provisions applying to connected borrowers
Zaradi nizkega kapitalskega količnika banke Piraeus pred dokapitalizacijo in velike negotovosti, ki je tedaj prevladovala, so namreč takrat razpoložljive simulacije pokazale, da brez nakupnih bonov zasebni vlagatelji ne bi dosegli zadostnega donosa in ne bi sodelovali.
All the provisions applying on connected borrowers shall apply at the Bank’s level.
Nazadnje, PSI in odkup iz decembra 2012 sta vrsta nadomestila za državo, ker se je dolg zadnjenavedene do banke Piraeus zmanjšal za več milijard EUR.
Within the Credit Policy, a specific section shall be devoted to the rules governing relations with connected borrowers.
Zaradi vseh navedenih razlogov lahko Komisija sprejme, da GSFS prejme neglasovalne delnice.
Connected borrowers include employees, shareholders, directors, managers, as well as their spouses, children and siblings and any legal entity directly or indirectly controlled by key employees (i.e. employees involved in the decision-making process of the Credit Policy), shareholders, directors or managers or their spouses, children and siblings.
Ugotovljeno je torej, da so dokapitalizacije iz GSFS (ukrepi B1, B2, B3 in B4) primerne, nujne in sorazmerne glede na točko 15 sporočila o bančništvu iz leta 2008, sporočilo o dokapitalizaciji in sporočilo o podaljšanju iz leta 2011.
By extension, any public institution or government-controlled organisation, any public company or government agency shall be considered as a connected borrower.
Ukrepi B1, B2, B3 in B4 so torej v skladu s sporočilom o bančništvu iz leta 2008, sporočilom o dokapitalizaciji in sporočilom o podaljšanju iz leta 2011.