natgillin/translations-raw huggingface dataset:
Under its new operating model, the Bank will manage non-performing loans through a dedicated unit, the priority of which will be to maximise the recoveries for the Bank and to reduce the non-performing loans through sustainable restructuring.
druga premostitvena dokapitalizacija v višini 2326 milijonov EUR, ki jo je decembra 2012 skupini NBG dodelil GSFS (ukrep B2);
Greece has also given a commitment that the Bank will comply with high standards as regards its credit policy in order to maximise the value for the Bank at each stage of the credit process, as described in recital 157.
kapitalski vložek v višini 50 milijonov EUR, ki ga je Grčija julija 2009 dodelila banki FB (ukrep FB1);
Corporate governance
financiranje celotne likvidnostne vrzeli v višini 456,97 milijona EUR s strani GSFS za dejavnosti, ki so bile junija in oktobra 2013 prenesene z banke FB na skupino NBG (ukrep FB4);
Another point of attention is the governance of the Bank given that the HFSF owns the majority of the Bank's shares following the 2014 share capital increase, but with restricted voting power.
zaveza za kritje kapitalske potrebe skupine NBG za prevzem sredstev v višini 100 milijonov EUR, ki so bila maja 2013 prenesena z banke FB na skupino NBG (ukrep FB5);
Additionally, some of the private shareholders also own warrants and thus would benefit from the full upside if the share price were to soar during the restructuring period.
financiranje celotne likvidnostne vrzeli v višini 562,7 milijona EUR s strani GSFS za dejavnosti, ki so bile avgusta in decembra 2013 prenesene z banke Probank na skupino NBG (ukrep PB1), ter
Because that situation could create moral hazard, a specific relationship framework has been agreed between the Bank and the HFSF since 2013.
Člen 2
That agreement protects the day-to-day business of the Bank from any interference from its main shareholders, while ensuring the HFSF can monitor the implementation of the restructuring plan and prevent excessive risk-taking by the Bank's management through appropriate consultation procedures.
Ta sklep je naslovljen na Helensko republiko.
The Bank has also given a commitment to monitor closely its exposure to connected borrowers.
V Bruslju, 23. julija 2014
International activities
Podpredsednik
Some of the Bank's international activities have drained the Bank's capital, liquidity and profitability in the past, as explained in recital 372.
Banka National bank of Greece S.A. in vse njene hčerinske družbe.
The restructuring plan foresees a shift towards a greater focus on its domestic market and Turkey.
Odločba Komisije z dne 19. novembra 2008 o državni pomoči N 560/08 „Ukrepi podpore za kreditne institucije v Grčiji“ ( UL C 125, 5.6.2009, str. 6).
The Bank has already started to rationalise the foreign subsidiaries, to strengthen the loan underwriting process and to reduce the subsidiaries' funding gaps.
Navedena shema je bila nato podaljšana in spremenjena, kot je opisano v opombi 3.
The total amount of assets outside Greece and Turkey will therefore shrink by […] % from 31 December 2012 to 31 December 2017.
Izraz „likvidnostna vrzel“ se nanaša na razliko med vrednostjo sredstev in vrednostjo obveznosti, prenesenih na skupino.
Greece has also given a commitment that the Bank will reduce its shareholding in its Turkish subsidiary Finansbank through […].
Zakon 4051/2012 o pravilih v zvezi s pokojninami in drugih nujnih pravilih v zvezi z uporabo memoranduma o soglasju zakona 4046/2012.
[…] welcome since they will strengthen the capital position of the Bank.
Glej Sklep Komisije z dne 27. julija 2012 o državni pomoči SA.34824 (2012/C), „Dokapitalizacija banke National Bank of Greece iz Grškega sklada za finančno stabilnost“ ( UL C 359, 21.11.2012, str. 4).
Regarding the fact that the Bank envisages retaining a majority shareholding in Finansbank, the Commission observes that Finansbank has been steadily profitable over recent years.
Sporočilo za javnost GSFS, 24. december 2012, na voljo na: http://www.hfsf.gr/files/press_release_20121224_en.pdf.
The Commission also observes that the Bank envisages closely monitoring the costs of Finansbank and the risks taken by that subsidiary.
Vmesno finančno poročilo skupine z dne 30. junija 2013, avgust 2013, str. 9, na voljo na: https://www.nbg.gr/english/the-group/investor-relations/financial-information/annual-interim-financial-statements/Documents/Annual%20and%20interim%20financial%20statements/Financial%20Report%20NBG%20GROUP-BANK%2030%2006%202013_EN%20FINAL.pdf.
The commitment that the Bank will not provide […] to Finansbank ensures that Finansbank […].
Glej opombo 2.
In view of those elements, the Commission considers that keeping a majority shareholding in Finansbank does not endanger the restoration of profitability.
Nakup in prevzem je postopek reševanja, v okviru katerega se v subjektu v postopku likvidacije opredelijo sredstva in obveznosti visoke kakovosti, ki se nato ponudijo na dražbi, da se prenesejo na poslovno uspešno podjetje.
Therefore it is concluded that the Bank will sufficiently restructure its foreign operations and reduce its exposure to the less viable ones.
GSFS, Annual financial report for the year ended 31 December 2013 (Letno finančno poročilo za leto, ki se je zaključilo 31. decembra 2013), junij 2014, str. 8.
Conclusion on viability
Evropska komisija – Generalni direktorat za gospodarske in finančne zadeve.
The restructuring plan shows that the Bank is able to withstand a reasonable amount of stress as, in the adverse scenario, the Bank remains profitable at the end of the restructuring period and keeps a sufficiently high Core Tier 1 ratio [146].
Drugi program gospodarskega prilagajanja za Grčijo – marec 2012, str. 17, na voljo na: http://ec.europa.eu/economy_finance/publications/occasional_paper/2012/pdf/ocp94_en.pdf.
The amount of additional capital which was raised in 2014, namely EUR 2500 million, is sufficient to cope with the baseline scenario of the stress test of 2013.
Glej oddelek II „Prestrukturiranje grškega državnega dolga“ v Poročilu o dokapitalizaciji in prestrukturiranju grškega bančnega sektorja, Banka Grčije, december 2012, na voljo na: http://www.bankofgreece.gr/BogEkdoseis/Report_on_the_recapitalisation_and_restructuring.pdf.
In the assessment of the capital needs under the baseline scenario, the Bank of Greece already introduced several adjustments which resulted in an increase of the estimated capital needs compared to the capital needs estimated by the Bank in its own baseline scenario.
Sporočilo za javnost ministrstva za finance z dne 9. marca 2012, na voljo na: http://www.pdma.gr/attachments/article/80/9%20MARCH%202012%20-%20RESULTS.pdf.
The baseline capital needs estimated by the Bank of Greece therefore assume a certain level of stress.
Količnik navadnega lastniškega temeljnega kapitala banke je eden od količnikov regulatornega kapitala, ki ga na podlagi direktive o kapitalskih zahtevah spremlja bančni nadzornik.
To conclude that the Bank is viable, the Commission does not require that the Bank has enough capital upfront to cover the stressed scenario capital needs estimated by the Bank of Greece, as that estimated level represents a high level of stress.
Glej opombo 13, str. 106.
In addition, it is positive that the Bank will not make additional investments in non-investment grade paper, which will help to preserve its capital and liquidity position.
Glej opombo 14.
The Commission can therefore conclude that the restructuring measures envisaged in the restructuring plan are sufficient to restore the viability of the Bank.
Glej opombo 13, str. 104.
As stated in section 3 of the Restructuring Communication, banks and their stakeholders need to contribute to the restructuring as much as possible in order to ensure that aid is limited to the minimum necessary.
Eurosistem, osrednji bančni sistem euroobmočja, sestavljajo Evropska centralna banka in nacionalne centralne banke držav članic euroobmočja.
Thus banks should use their own resources to finance the restructuring, for instance by selling assets, while the stakeholders should absorb the losses of the bank where possible.
Sporočilo za javnost ministrstva za finance z dne 3. decembra 2012, na voljo na: http://www.pdma.gr/attachments/article/248/Press%20Release%20-%20December%2003.pdf.
The commitments made by Greece should ensure that own resources are used and that original shareholders and private investors, holding hybrid capital of the Bank, contribute to the restructuring.
Zaradi odkupa lastnega dolga po ceni, ki je bila precej pod nominalno vrednostjo, se je dolg Grčije znatno zmanjšal.
Own contribution by the Bank: divestments and cost-cutting
Če tak odkup ne bi bil izveden, bi se lahko tržna vrednost navedenih novih grških državnih obveznic povečala v skladu z razvojem tržnih parametrov, kot so obrestne mere in verjetnost neplačila Grčije.
The Bank has already divested some small businesses such as the insurance activities in Turkey and a majority stake in its real estate subsidiary.
Napovedi kreditne izgube vključujejo pričakovane izgube iz naslova izdajanja novih posojil v Grčiji v obdobju od junija 2013 do decembra 2016.
The restructuring plan foresees the sale of a minority stake in Finansbank, as described in recital 387, which will enable the Bank to generate capital internally.
Učinek napovedi kreditne izgube za tuje tveganje je bil izračunan po obračunu tujih davkov in ob upoštevanju zavez glede odprodaj, o katerih so v zadevnem času potekali pogovori z Generalnim direktoratom za konkurenco.
The Bank will also sell […] as well as its private equity subsidiary and other securities.
Rezervacije banke NBG za izgube iz posojil dne 30. junija 2013 pred rezervacijami bank First Business Bank in Probank.
Considering the deleveraging and the divestments already implemented and following the implementation of the commitments related to the deleveraging and divestments of foreign businesses, the Bank will have generated a significant amount of capital.
Rezervacije banke Eurobank za izgube iz posojil dne 30. junija 2013 pred rezervacijami bank New Hellenic Postbank in New Proton Bank, ki jih je zadevna banka prevzela avgusta 2013.
The downsizing of the Bank's international assets will also significantly reduce the contingent risk that aid will be needed in the future.
Glej preglednico 2.
It therefore helps in reducing the amount of aid to the minimum.
Viri:leti 2012 in 2013: Finančni rezultati za leto 2013 – konsolidirani računovodski izkazi, str. 42–43;leto 2011: Finančni rezultati za leto 2012 – konsolidirani računovodski izkazi, str. 44–45;leto 2010: Finančni rezultati za leto 2010 – konsolidirani računovodski izkazi, str. 42–43.
In order to limit its capital needs, the Bank will not use […], as described in recital 154.
Ti zneski lastniškega kapitala vključujejo:za leto 2010: 350 milijonov EUR prednostnih delnic, ki jih je Grčija odobrila v letu 2009,za leta 2011, 2012 in 2013: 1350 milijonov EUR prednostnih delnic, odobrenih v letih 2009 in 2011.Navedeni zneski ne vključujejo premostitvene dokapitalizacije v višini 9756 milijonov EUR, ki jo je skupina prejela leta 2012.
In addition, the commitments made by Greece provide that the Bank will not make costly acquisitions.
Na podlagi konsolidiranih računovodskih izkazov za leto 2012.
The Bank has also engaged in a far-reaching cost reduction programme, as indicated in section 2.4.2.
Zbiranje naročil vključuje navezavo stika z morebitnimi vlagatelji z namenom, da se v knjigi naročil registrirajo njihova naročila ter da se zaključi povečanje kapitala.
Its costs will further decrease until 2017.
https://www.nbg.gr/en/the-group/press-office/press-releases/update-regarding-the-egm-10-5-14
Its workforce is being reduced and most of the salaries adjusted downwards.
Zaupna informacija.
The existing shareholders of the Bank were successively diluted by the rights issues completed in 2009 and 2010 [147] and then by the HFSF recapitalisation (measure B3).
Sklep 1/6/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
The stake held by the shareholders of the Bank was reduced from 100 % prior to the Spring 2013 recapitalisation to only 5,1 % afterwards.
Sklep 1/5/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
In addition, no dividend has been paid to ordinary shareholders since 2007 or to US preference shareholders since 2009.
Sklep 1/1/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
Besides that burden-sharing by historical shareholders, the Bank has raised a significant amount of capital since the crisis started in late 2008, that is to say EUR 1247 million in 2009, EUR 1815 million in 2010, EUR 1079 million in 2013 and EUR 2500 million in 2014.
Sklep 1/3/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
That capital raised has contributed to reducing the amount of capital needs which had to be filled by State aid.
Sklep 1/2/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
Burden-sharing by subordinated debt holders
Sklep 1/7/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
The Bank's subordinated debt holders have contributed to the restructuring costs of the Bank.
Sklep 1/8/23.3.2012 odbora za ukrepe reševanja Banke Grčije.
The Bank has performed several liability management exercises in order to generate capital, as described in recitals 149 and 150.
Banka FB je grške državne vrednostne papirje prejela januarja 2009, zapadli pa so decembra 2011.
The still outstanding instruments are subject to the coupon ban mentioned in recital 159.
Elektronsko sporočilo Banke Grčije Komisiji z dne 11. maja 2013.
Therefore, the Commission considers that an adequate burden-sharing from the bank's private hybrid investors is ensured and the requirements of the Restructuring Communication in that respect are met.
Sklep 10/2/10.5.2013 odbora za ukrepe reševanja Banke Grčije.
Conclusion on own contribution and burden-sharing
Sklep 13/1/7.11.2013 odbora za ukrepe reševanja Banke Grčije.
The Commission observes that in comparison with the total State recapitalisation received, the own contribution and burden-sharing in the form of sale of assets and downsizing is much lower than what the Commission would usually consider sufficient.
Poročilo o dejavnostih grškega sklada za finančno stabilnost za obdobje julij–december 2013, na voljo na: http://www.hfsf.gr/files/HFSF_activities_Jul_2013_Dec_2013_en.pdf.
For instance, the restructuring plan envisages no downsizing of the Greek banking activities and the retention of a majority stake in Finansbank.
Ponudba skupine z dne 25. julija 2013 na podlagi podatkov Banke Grčije na dan 31. marca 2013.
However, in view of the elements developed in section 7.6.1, under which the Commission can accept a lower own contribution and burden-sharing, the restructuring plan can be considered as providing for sufficient own contribution and burden-sharing measures.
Podatki, ki jih je Banka Grčije predložila 2. aprila 2014.
The Restructuring Communication requires a restructuring plan to propose measures limiting distortions of competition and ensuring a competitive banking sector.
Sklep 85/1/26.7.2013 odbora za kredite in zavarovanja Banke Grčije.
Moreover, those measures should also address moral hazard issues and ensure that State aid is not used to fund anti-competitive behaviour.
GSFS, Probank – Revizija predloženih ponudb, 25. julij 2013.
Point 31 of the Restructuring Communication states that when assessing the amount of aid and the resulting competition distortions, the Commission has to take into account both the absolute and relative amount of the State aid received as well as the degree of burden-sharing and the position of the financial institution on the market after the restructuring.
Sklep 12/2/26.7.2013 odbora za ukrepe reševanja Banke Grčije.
In that respect, the Commission recalls that the Bank has received capital from the State equivalent to 17,3 % of its RWA [148].
Razlika je večinoma izhajala iz dejstva, da je bil dejanski znesek prenesenih bruto posojil za 197 milijonov EUR nižji od prvotne ocene, iz povišanja rezervacij za posojila za 141 milijonov EUR, iz nižjega vrednotenja lastniškega kapitala in portfelja obveznic ter iz nižjega vrednotenja obveznosti in zlasti vlog.
In addition, the Bank has obtained liquidity guarantees amounting to EUR 12900 million as of 15 April 2011 and to EUR 14798 million as of 31 December 2013.
V skladu s poročilom o uporabi ukrepa jamstva in ukrepa obligacijskih posojil, ki ga je Grčija predložila 13. decembra 2013.
The Bank had also received loans of government bonds for EUR 847 million at that date, as well as State-guaranteed ELA amounting to EUR 30,9 billion at 31 December 2012.
V skladu s pismom Banke Grčije z dne 7. novembra 2011 „jamstva veljajo za celoten znesek izredne likvidnostne pomoči“.
The need to implement measures to limit potential distortions of competition is thus justified in view of that large amount of aid.
Podatki, navedeni v priglasitvi z dne 25. junija 2014.
Additionally, the market share of the Bank in Greece is large, with market shares of 22 % for loans and 25 % for deposits at 31 December 2013 [149].
Načrt prestrukturiranja, predložen 25. junija 2014, Priloga I, str. 24.
The Commission recalls that the difficulties of the Bank come mainly from external shocks such as the Greek sovereign crisis and the protracted recession which has disrupted the Greek economy since 2008.
Kot je pojasnjeno v uvodnih izjavah 101 in 102, je bila zaveza dana aprila 2012, do dejanske dokapitalizacije pa je prišlo maja 2012.
This was also noted in recital 68 of the NBG Opening Decision.
V sporazumu za obdobje pred vpisom je bilo določeno: „Dejansko tveganje, ki se izplača skupini, vključuje obveznice EFSF ter kakršna koli izplačila kuponov in natečene obresti na obveznice EFSF za obdobje od izdaje obveznic do pretvorbe predplačila v delniški kapital in druge zamenljive finančne instrumente, kot je določeno v tem sporazumu.“
The need to address moral hazard issues is therefore reduced in consequence.
Glej preglednico 3.
As discussed in section 7.6.1, the distortive effect of the aid measures is lower in the light of those factors as is the need for measures to limit distortions of competition.
http://www.nbg.gr/wps/wcm/connect/71b1f08a-2c84-4cfe-a368-f985c93d2da9/20130523_Announcement_Cut+Off+Date+and+Subscription+Period_final+clean+…%283%29_EN.pdf?MOD=AJPERES
For those reasons, the Commission can exceptionally accept that, in spite of the high aid amount, the restructuring plan does not envisage any downsizing of the balance sheet and loans in Greece.
http://www.nbg.gr/wps/portal/en/the-group/Press-Office/Press-Releases/content/Press-Releases/anakoinosi-21-6-2013
However, the Commission notes that the State recapitalisations enabled the Bank to continue its banking activities in foreign markets.
http://www.nbg.gr/wps/portal/en/the-group/Press-Office/Press-Releases/content/Press-Releases/reverse-split
In that respect, the Commission notes, in addition to the deleveraging and restructuring already implemented, the commitment to divest the foreign assets […] by 30 June 2018 [150].
http://www.nbg.gr/wps/wcm/connect/af79cd67-5fd6-4811-bd70-2b493cf5c205/Announcement+Commencement+of+Trading_EN.pdf?MOD=AJPERES
The aid will therefore not be used to distort competition on those foreign markets.
Na primer, 26. decembra 2013 je bila izvršilna cena 4,3758 EUR, 26. junija 2014 4,4616 EUR, 26. decembra 2014 4,5689 EUR, 26. junija 2015 pa bo 4,6761 EUR in tako naprej.
Greece has also committed that the Bank will not make acquisitions, ensuring that the Bank will not use the State aid received to acquire any new business.
Navedeni znesek v višini 60 milijonov EUR grških državnih vrednostnih papirjev je bil septembra 2013 dodeljen in odobren skupini v skladu s sklepom 73/1/10/05.2013 odbora za kredite in zavarovanja Banke Grčije ter sklepom 10/1/10.5.2003 odbora za ukrepe reševanja Banke Grčije.
That commitment contributes to ensuring that the aid is strictly used to support the restoration of the viability of the Greek banking activities, and not, for instance, to grow in foreign markets.
Izraz „likvidnostna vrzel“ je lahko zavajajoč, saj ne opisuje likvidnostne podpore, temveč ukrepe kapitalske podpore.
The commitment to decrease the interest paid on Greek deposits from non-profitable high levels also ensures that the aid will not be used to finance deposit collection strategies which distort competition on the Greek market.
GSFS, „Report of the Hellenic Financial Stability Fund's Activities for the period July- December 2013“ (Poročilo o dejavnostih grškega sklada za finančno stabilnost za obdobje julij–december 2013), marec 2014, str. 4, na voljo na: http://www.hfsf.gr/files/HFSF_activities_Jul_2013_Dec_2013_en.pdf.
Taking into account the specific situation described in section 7.6.1 and the measures provided for in the restructuring plan, the Commission considers there are sufficient safeguards to limit distortions of competition.
Načrt prestrukturiranja, predložen 25. junija 2014, str. 30 (številke se nanašajo na domače poslovanje, vključno npr. s hčerinskimi družbami, ki delujejo v zavarovalništvu, nepremičninah in turizmu).
Monitoring
Glej uvodni izjavi 72 in 82.
In accordance with section 5 of the Restructuring Communication, regular reports are required to allow the Commission to verify that the restructuring plan is being implemented properly.
Načrt prestrukturiranja, predložen 25. junija 2014, str. 30.
As stated in the commitments [152], Greece will ensure that the Monitoring Trustee, which was appointed by the Bank with the approval of the Commission, will monitor the commitments undertaken by Greece on the restructuring of activities in Greece and abroad and on corporate governance and commercial operations until the end of the restructuring period, namely, 31 December 2018.
Načrt prestrukturiranja, predložen 25. junija 2014, Priloga I, str. 11.
The Commission therefore finds that proper monitoring of the implementation of the restructuring plan is ensured.
Načrt prestrukturiranja, predložen 25. junija 2014, Priloga I, str. 9.
Conclusion on the compliance of measures A, B1, B2 and B3 with the Restructuring Communication
Visoka kapitalska ustreznost skupine ne vpliva negativno na donos na tveganju prilagojeno aktivo, ki bo ob koncu obdobja prestrukturiranja […] %.
The Commission finds that the restructuring plan when taken together with the commitments in the Annex to this Decision ensures the restoration of long-term viability of the Bank, is sufficient with respect to burden-sharing and own contribution, and contains sufficient measures to limit distortions of competition.
Načrt prestrukturiranja, predložen 25. junija 2014, str. 13.
The restructuring plan and commitments submitted fulfil the criteria of the Restructuring Communication.
Načrt prestrukturiranja, predložen 25. junija 2014, str. 34.
CONCLUSION
Načrt prestrukturiranja, predložen 25. junija 2014, str. 12.
The Commission regrets that Greece has unlawfully implemented aid measures B1, B2, B3, FB4, FB5, PB1, and PB2, in breach of Article 108(3) of the Treaty, since they were implemented before their formal notification.
Glede na predložitev informacij grških organov z dne 21. novembra 2013 je dobiček količnika navadnega lastniškega temeljnega kapitala ocenjen na 35 bazičnih točk v letu 2013.
However, those measures, as well as the other measures analysed in this Decision, can be considered compatible with the internal market,
Finančno poročilo za leto 2010, str. 44.
HAS ADOPTED THIS DECISION:
Načrt prestrukturiranja, predložen 25. junija 2014, str. 11.
Article 1
Glej zaveze v Prilogi, poglavje II.
The following measures implemented or planned by Greece constitute State aid within the meaning of Article 107(1) of the Treaty:
Zamenjave obrestnih mer, ki so bile s Helensko republiko dogovorjene na podlagi sporazuma o ISDA, vključno s tistimi, ki so listinjene prek Titlos Plc, bodo izključene iz neto posojil za namene izračuna razmerja med neto posojili in vlogami.
the emergency liquidity assistance provided to National Bank of Greece S.A.
Glej zaveze v Prilogi, poglavje II.
(‘NBG’) by the Bank of Greece and guaranteed by Greece (measure L2);
Glej zaveze v Prilogi, poglavje III, oddelek A.