natgillin/translations-raw huggingface dataset:
The government bonds shall only be used to secure loans against collateral from the CBI for the purpose of acquiring liquidity for Arion Bank [45].
Makroekonomske predpostavke temeljijo na napovedi, ki jo je pripravil raziskovalni oddelek banke Arion Bank in vključujejo naslednje ključne spremenljivke:
The restructuring plan
Preglednica 3
The Icelandic authorities submitted a restructuring plan for Arion Bank on 31 March 2011 and an amendment of that plan on 26 October 2011.
Iz gospodarske napovedi raziskovalnega oddelka banke Arion Bank
An updated restructuring plan was submitted on 30 April 2012 together with a 5 year business plan and an Internal Capital Adequacy Assessment Process (ICAAP) report dated April 2012.
Odstotek spremembe glede na prejšnje leto
The ICAAP report was submitted to the FME in April 2012.
Rast BDP
The restructuring plan addresses the substantive issues of viability, burden-sharing and limitation of distortions of competition.
Brezposelnost
According to the restructuring plan, Arion Bank has solely operations in Iceland and aims to focus on traditional universal banking services.
Inflacija
Description of the restructuring plan
Plače
The Icelandic authorities and the Bank consider that the restructuring of Arion Bank will ensure its return to being a solid, well-funded bank with sound capital ratios so that it can maintain its role as a supplier of credit to the real economy.
Indeks menjalnega tečaja ISK (TWI [47])
Based on the information in the restructuring plan and the answers to questions from the Authority, this will be achieved through the following steps:
Banka je pripravila tudi predpostavke na primer v zvezi s svojim tržnim položajem, priložnostmi in nevarnostmi, notranjimi podatki in razvojem trga, vključno s tako imenovanimi ključnimi prepričanji [48];
Setting the long-term strategic direction, scaling down the operations and limiting risk exposure
Pričakuje se nenehna rast, ki ji bo zagon dajala pretežno potrošnja [49].
Achieving and maintaining a strong capital position and satisfactory profitability
Tudi zmanjšanje brezposelnosti bo pripomoglo k rasti potrošnje;
Maintaining a solid liquidity position and improving the funding structure
Med finančno krizo, ki traja od leta 2008, so bile naložbe kot odstotek BDP-ja na najnižji ravni v zadnjih 50 letih, vendar se pričakuje, da bodo v preostanku obdobja prestrukturiranja začele naraščati;
Restructuring of household and corporate loan portfolios
V skladu z napovedano rastjo naložbene dejavnosti banka pričakuje, da se bo povečalo povpraševanje po posojilih in da bo njen portfelj posojil v obdobju prestrukturiranja rasel;
Limiting foreign exchange imbalances
Uvoz se bo povečal bolj kot izvoz, vendar bo ob koncu obdobja napovedi dosegel uravnoteženo raven;
Rationalising the branch network and achieving cost efficiency
Inflacija in obrestne mere imajo ključno vlogo v poslovanju banke in v načrtu prestrukturiranja [50].
Before describing the restructuring plan in more detail, it is appropriate to set out briefly the Bank's view on how the flaws that contributed to Kaupthing's demise are being addressed in the restructuring plan for Arion Bank.
Predpostavlja se, da bo inflacija v celem obdobju napovedi ostala visoka;
In this regard, it has been underlined that while Arion Bank's operations are based on the domestic operations and assets of Kaupthing Bank, it is nevertheless a new bank, with different commercial objectives and ownership, board of directors and management different from that of Kaupthing.
V celotnem obdobju napovedi naj bi se vrednost króne povprečno zmanjšala za 5 odstotkov;
The current management of Arion Bank has in fact stated that it considers itself not to be in a position to speculate on the specific weaknesses or the collapse of Kaupthing.
Banka Arion Bank izraža dvom glede strategije o odpravi nadzora kapitalskih tokov in predpostavlja, da bo nadzor ostal v veljavi v celotnem obdobju napovedi [51].
Otherwise, Arion Bank refers firstly to the SIC report discussed above regarding the causes for the collapse of Kaupthing Bank.
Zaradi hitrega prehoda s severnoevropske banke z dejavnostjo v trinajstih državah v banko, ki ima dejavnosti samo na Islandiji, se je banka Arion Bank soočila s številnimi notranjimi in zunanjimi izzivi, ki jih je treba obravnavati in rešiti.
Secondly, it is pointed out that following the collapse of Kaupthing, actions has been taken to strengthen the infrastructure after an assessment of risk management and governance made by the FME.
Eden od izzivov je bilo prevrednotenje sredstev, prenesenih iz banke Kaupthing na banko Arion Bank.
According to Arion Bank, two projects are particularly relevant regarding actions taken at the Bank in response to the above assessment.
Poleg tega se je morala sorazmerno zmanjšati infrastruktura banke in potrebna je bila prilagoditev novemu gospodarskemu stanju, v katerem so se številnim gospodarskim družbam, fizičnim osebam in gospodinjstvom zelo zmanjšale zmožnosti plačevanja svojih dolgov.
Firstly, regarding large and connected exposures.
Veliko od teh številnih izzivov, s katerimi se je soočala nova banka, je bilo tako neposredno povezanih z okoliščinami, v katerih je bila ustanovljena.
It has been alleged that Kaupthing held a ‘legalistic’ view of the treatment of connected exposures, allowing it to engage in lending to connected or related parties in excess of the legal limit of 25 % of risk capital.
Prenos domačih sredstev in obveznosti iz premoženja banke Kaupthing na banko Arion Bank je ustvaril nekaj neugodnih izpostavljenosti tveganju za banko.
Through this project Arion Bank has extended its definitions of connected parties, and applies stricter processes in this regard, where Arion Bank's Risk Management has the ultimate authority if disputes arise.
Vendar je bil v prizadevanjih, da se dejavnosti banke prilagodijo novemu gospodarskemu stanju, dosežen velik napredek pri zniževanju izpostavljenosti banke tveganjem na obvladljivo raven.
Large exposures are rigorously monitored and reported and as part of the credit granting process, a special report is given when the granting of credit would result in a large exposure.
Poudarek je bil na:
Changes to Icelandic legislation on financial institutions made following the crisis have significantly curtailed the ability of banks to lend to related parties.
izterjavi dolga slabih posojil [52],
Lending to owners or key employees can no longer exceed 1 % of risk capital and can only be made against quality collateral.
zmanjšanju valutnih neravnovesij [53],
Secondly, more scrutiny is applied to cross-ownership and indirect exposures.
zmanjšanju koncentracije posojil v velikih in povezanih strankah [54],
Kaupthing Bank allegedly engaged in lending against its own shares which was certainly risky and possibly beyond the limits set by the Icelandic companies act.
zvišanju stopnje kapitala [55],
The restructuring plan is prepared for the parent company as a part of the ICAAP process and also takes into account the effects of the subsidiaries.
V letu 2010, je bila določena dolgoročna strateška usmeritev banke.
It is based on a set of general and economic assumptions, constituting the economic underpinning of the base case and stress case scenarios set out below.
Po navedbah banke Arion Bank se portfelj strank že nagiba proti cilju postati povezovalna banka in banka je prepričana, da je mogoče v celoti doseči tak model bančništva.
The assumptions include the following:
Organizacijska struktura banke je bila od njene ustanovitve poenostavljena [58] in uvedeni so bili standardi upravljanja, ki zagotavljajo razkrivanje in preglednost ter večjo odgovornost.
Economic, legal, political and regulatory uncertainties are still considerable in the Bank's operating environment and do affect its long-term forecast.
Okrepljene so bile vloge in naloge podpornih oddelkov, zlasti oddelka za upravljanje tveganj.
For these reasons, no major changes are assumed in the Bank's operating activities.
Oddelek je neodvisen in centraliziran ter poroča neposredno generalnemu izvršnemu direktorju.
Macroeconomic assumptions are based on a forecast prepared by Arion Bank's Research division, which includes the following key variables:
Generalni izvršni direktor in upravni odbor sta odgovorna za opredelitev in izražanje pripravljenosti banke, da sprejme tveganje.
Table 3
Pripravljenost za tveganje se izraža v mejni izpostavljenosti in ciljih, ki jih spremlja oddelek za upravljanje tveganj, ki o svojih ugotovitvah redno poroča neposredno generalnemu izvršnemu direktorju in upravnemu odboru.
From Arion Bank Research Division economic forecast
FME je izbrala banko Arion Bank, da prevzame vse obveznosti glede vlog v hranilnici Reykjavík (SPRON).
Percentage change from previous year
Aprila 2009 je banka prevzela regionalno hranilnico Mýrasýsla (SPM),vključno z vsemi njenimi sredstvi in nekaterimi obveznostmi, kot so vloge [59].
GDP growth
Tako je banka pridobila 22000 novih strank, ne da bi ji bilo treba širiti obstoječo mrežo poslovalnic.
Unemployment
22. decembra 2011 je banka Arion Bank prevzela nekdanji Sklad za hipoteke in institucionalne vlagatelje banke Kaupthing (ki se sedaj imenuje Sklad za hipoteke in institucionalne vlagatelje banke Arion Bank) [60].
Inflation
V letu 2012 se bo skrbnik vrednostnih papirjev Verdis, podružnica v popolni lasti banke, združil z banko.
Wages
Kot je razvidno iz Preglednice 4, je banka Arion Bank donosna od ustanovitve dalje in njena donosnost lastniškega kapitala je med 10,5 in 16,7 %.
ISK exchange rate index (TWI) [47]
Preglednica 4
The Bank also makes assumptions in relation to for instance its market position, opportunities and threats, internal data and market development, including so-called key beliefs [48].
Finančni pregled 2009-2011 in napoved 2012-2014.
On-going growth is expected, driven mainly by consumption [49].
(Podatki so za matično družbo.
Consumption will continue to be driven by special measures (pension withdrawals and recalculations of foreign exchange loans, etc.).
Učinki podružnic so upoštevani prek drugih dohodkov.
In addition, increasing housing prices will contribute to household wealth.
Zneski so v milijonih ISK.)
A decrease in unemployment will also help to boost consumption.
Spremembe vrednotenja pri posojilih
During the financial crisis since 2008, investment as a percentage of GDP has been below past 50 years' minimum, but is expected to gradually pick up for the remainder of the restructuring period.
Prihodki od provizij
In line with the forecast increase in investment activity, the Bank expects demand for new loans to increase and its loan book to grow in the restructuring period.
Čisti finančni prihodki
Imports will increase more than exports but will reach a balanced level at the end of the forecast period.
Drugi dohodki
Inflation and interest rates play a key role in the Bank's business and restructuring plan [50].
Skupaj prihodki
It is assumed that inflation will remain high throughout the forecast period.
Operativni stroški
A 5 % weakening of the króna is expected, on average, throughout the forecast.
Oslabitev
Arion Bank expresses doubts about the strategy related to the lifting of the capital controls and assumes that they will remain in place during the forecast period [51].
Čisti dobiček pred davki
With a swift transformation from a Northern European bank with operations in 13 countries to a bank that has solely operation in Iceland, Arion Bank was faced with countless challenges, both internal and external, that needed to be addressed and overcome.
Davki in dajatve za banke
The revaluation of transferred assets from Kaupthing to Arion Bank was one of them.
Čisti dobiček
Additionally the Bank's infrastructure had to be scaled down, and the Bank had to adjust to the new economic reality where many corporations, individuals and households found themselves with a severely diminished ability to service their debt.
Donosnost lastniškega kapitala
Many of the numerous challenges faced by the new bank were thus directly related to the circumstances surrounding its establishment.
Čista obrestna marža
The transfer of domestic assets and liabilities from the estate of Kaupthing to Arion Bank created some unfavourable risk exposures for the Bank.
Razmerje med stroški in prihodki
However, in the broad efforts made to aligning the Bank's operations to a new economic reality, considerable success has been achieved in bringing the Bank's risk exposure down to a controllable level.
V obdobju 2009-2011 so izredne postavke imele velik vpliv na izkaz poslovnega izida, zlasti glede spremembe vrednotenja pri posojilih.
The focus has been on:
Islandski organi so zagotovili podatke o skupnih posojilih in popustih, prejetih od nekdanje banke [61].
Debt recovery of distressed loans [52].
Celotna nominalna vrednost prenesenih posojil je bila 1230 milijard ISK, knjigovodska vrednost pa 459 milijard ISK.
Reducing the currency imbalance [53].
Skupni popust je bil torej približno 771 milijard ISK.
Reducing the credit concentration towards large and connected clients [54].
Ko so pogoji dovoljevali, so bila posojila prevrednotena in zato je prišlo do spremembe vrednotenja pri posojilih, kot je navedeno v Preglednici 4.
Increasing the capital level [55].
Za preostalo obdobje prestrukturiranja pa se napovedujejo zanemarljive spremembe vrednotenja pri posojilih.
Increasing term deposits and securing alternative funding sources [56].
Donosnost banke torej ne bo več odvisna od te izredne postavke.
Reducing the inflation risk due to the Consumer Price Index (CPI) imbalance [57].
Kapitalski zahtevi, ki jih je FME določil kot pogoj za izdajo dovoljenja za poslovanje banki Arion Bank, sta bili 12 % za kapital razreda 1 in 16 % za celotni kapital (količnik kapitalske ustreznosti).
During 2010, the long-term strategic direction for the Bank was set.
Kapitalska politika banke je ohraniti trdno kapitalsko osnovo, da bo lahko podpirala razvoj podjetij in izpolnjevala regulativne kapitalske zahteve tudi v času težav.
According to Arion Bank, its customer portfolio is already leaning towards its goal of becoming a relationship bank and it is believed that this kind of banking model can be fully achieved.
Dolgoročno načrtovanje kapitala v banki trenutno temelji na primerjalnem minimumu […] % za kapital razreda 1 in skupni količnik kapitalske ustreznosti […] %.
The organizational structure of the Bank has been simplified since its establishment [58] and corporate governance standards have been introduced, ensuring disclosure and transparency and increased accountability.
Kapitalski položaj banke se je v obdobju 2009-2011 postopoma krepil in je presegel kapitalske zahteve FME in notranje cilje banke.
The role and functions of support divisions, in particular the Risk Management division, have been enhanced.
Konec leta 2011 je bil količnik kapitalske ustreznosti banke 20,5 %, razmerje razreda 1 pa 15,7 %.
The division is independent and centralised and reports directly to the CEO.
Preglednica 5
The CEO and the Board of Directors are responsible for defining and articulating a risk appetite for the Bank's operations.
Količniki celotnega kapitala konec leta za obdobje 2009-2011 in napoved 2012-2014.
Risk appetite is translated into exposure limits and targets that are monitored by Risk Management, which reports its findings regularly to the CEO and the Board of Directors.
Kapital razreda 1
The FME chose Arion Bank to take over all of the deposit obligations of Reykjavík Savings Bank (SPRON).
Kapital razreda 2
In April 2009, the Bank acquired the regional Mýrasýsla Savings Bank (SPM), including all its assets and certain liabilities such as deposits [59].
Skupaj kapital
These actions brought 22000 new customers to the Bank without expanding its existing branch network.
Tveganju prilagojena aktiva
On 22 December 2011 Arion Bank acquired the former Kaupthing Mortgages Institutional Investor Fund, KMIIF (now named Arion Bank Mortgages Institutional Investor Fund, AMIIF) [60].
Razmerje razreda 1
In 2012, the securities custodian Verdis, a fully owned subsidiary of the Bank, will be merged with the Bank.
Količnik kapitalske ustreznosti
As can be seen in Table 4, Arion Bank has been profitable since establishment, with return on equity (ROE) ranging between 10,5 and 16,7 %.
Glede na poročilo o notranji ocena kapitalske ustreznosti iz aprila 2012 je po oceni banke za kritje njene izpostavljenosti tveganju potreben kapital v višini […] milijard ISK.
Table 4
Banka ima kapitalsko osnovo v višini […] milijard ISK in ima tako kapitalsko rezervo v višini […] milijard ISK.
Financial overview 2009-2011 and forecast 2012-2014
Na podlagi trenutnega tveganju prilagojenega zneska to pomeni […] % količnik celotnega kapitala.
(The data is for the parent company.
Glede likvidnosti FME zahteva, da mora banka imeti zavarovane likvidnostne rezerve v višini najmanj 20 % vlog in denarne rezerve v višini 5 % vlog na vpogled.
Effects of subsidiaries are taken through other income.
Poleg tega Centralna banka Islandije določa pravila za likvidnost kreditnih ustanov [63], na podlagi katerih se likvidna sredstva in obveznosti razvrščajo po vrsti in dospelosti in se jim pripišejo uteži glede na tveganje.
Amounts in million ISK)
Kreditne ustanove morajo v enem mesecu, po enem mesecu in do treh mesecev imeti likvidna sredstva, ki presegajo obveznosti.
Valuation change in loans
Pravila vključujejo tudi določeno testiranje izjemnih situacij, ko se za različne kapitalske postavke uporabi popust, vendar se po eni strani predpostavlja, da morajo biti vse obveznosti plačane ob dospelosti in po drugi, da se deleži drugih obveznosti, na primer vlog, morajo izplačati v kratkem roku ali takoj.
Commission income
Likvidnostni količniki v obdobju 2011-2012 so navedeni v grafikonu v nadaljevanju.
Net financial income
Očitno je, da je banka ohranila trden likvidnostni položaj in presegla zahteve FME tako glede denarnega razmerja kot širše zahteve zavarovane likvidnosti.
Other income
Po načrtu banke za obdobje 2012-2014 bo banka ohranila denarno razmerje med […] – […] % in […] – […]-odstotni likvidnostni količnik.
Total income
Banka je tudi izpolnila likvidnostne predpise CBI, ker so bili njeni likvidnostni količniki (več kot en mesec in do treh mesecev) na koncu leta v obdobju 2009-2011 v razponu 1,5 – 2,1.
Operating expenses
Diagram 1
Impairment
Likvidnostni količniki banke Arion Bank 2011-2012
Net earnings before taxes
[Grafikon likvidnostnih količnikov banke Arion Bank po pravilih FME
Taxes and bank levy
Vrednosti zaradi poslovne skrivnosti niso razkrite]
Net earnings
Čeprav zahteve glede likvidnosti iz Basla III še niso obvezne, je banka Arion Bank začela prostovoljno spremljati količnik likvidnostnega kritja bank [64] v skladu s temi pravili in konec leta 2011 je bil njen količnik likvidnostnega kritja banke […] %.
Return on equity (ROE)
Banka Arion Bank se v veliki meri financira z vlogami, vendar so bili sprejeti ukrepi za razpršitev financiranja z izdajo kritih obveznic.
Net interest margin
Novembra 2011 je FME banki Arion Bank izdal dovoljenje za izdajo zakonsko določenih kritih obveznic.
Cost-to-income ratio
Februarja 2012 je bil zaključen program kritih obveznic v vrednosti 1 milijarde EUR.
During 2009-2011, irregular items have had a major impact on the profit and loss account, in particular as concerns valuation change in loans.
Sredstva bodo uporabljena za financiranje hipotekarnih posojil banke Arion Bank.
The Icelandic authorities have provided information on the total loans and discounts obtained from the old bank [61].
Opomniti je treba, da je konec leta 2011 banka Arion Bank kupila hipotekarni sklad KMIIF s prevzemom neporavnanega zneska v višini 127 milijard ISK v kritih obveznicah in nadaljevala kot izdajatelj kritih obveznic.
The total face value of the loans transferred was 1230 billion ISK and the book value 459 billion ISK.
Banka meni, da bo izdaja kritih delnic na domačih trgih izpolnila potrebe refinanciranja banke in financiranja novih posojil v obdobju 2012-2016.
When conditions have permitted, the loans have been re-valued, leading to a valuation change in loans, as indicated in Table 4 [62].
To je zapleteno in občutljivo vprašanje s številnimi finančnimi, ekonomskimi in etičnimi vidiki.
However, for the remainder of the restructuring period, valuation change in loans are forecasted to be unsubstantial.
Po navedbah banke Arion Bank je prestrukturiranje portfelja posojil zelo pomembna prednostna naloga in banka meni, da je bilo to poglavitno pri reševanju vprašanj dolga gospodinjstev in podjetij ter da je bil v zvezi s tem dosežen velik napredek.
The Bank's profitability will therefore not any longer depend on this irregular item.
Banka je leta 2009 ustanovila enoto za izterjavo od podjetij in za upravljanje zaseženega premoženja so bile ustanovljene družbe za upravljanje premoženja.
The capital requirements set by the FME as a condition for granting an operating license to Arion Bank was 12 % for the Tier 1 capital and 16 % for the total capital (CAD ratio).
Banka je uvedla vrsto prilagojenih rešitev za pomoč gospodinjstvom in posameznim posojilojemalcem pri reševanju dolgov.
The Bank's capital policy is to maintain a strong capital base to support business development and to meet regulatory capital requirements, even in times of stress.
Poslovne stranke, ki ne morejo izpolnjevati svojih obveznosti, so bile vključene v postopek izterjave dolga banke.
Long-term capital planning at the Bank is currently based on a benchmark minimum of […] % for Tier 1 capital and a total CAD ratio of […] %.
Cilj je plačilno nesposobne gospodarske družbe spremeniti v plačilno sposobne družbe z dobro bilanco stanja in jim tako omogočiti poslovanje v prihodnje in s tem prispevati k razvoju gospodarstva.
The capital position of the Bank has been strengthening gradually during 2009-2011 and has exceeded both the FME capital requirements and the Bank's internal targets.
Konec leta 2011 je bilo v program izterjave od podjetij vključenih 986 gospodarskih družb in postopek je bil zaključen v 871 primerih.
At the end of 2011, the Bank's CAD ratio was 20,5 %, with a Tier 1 ratio of 15,7 %.
Banka pričakuje, da bo prestrukturiranje zadolženosti podjetij v večji meri zaključeno do konca leta 2012.
Table 5
Pri prestrukturiranju dolga gospodinjstev je več kot 14000 fizičnih oseb izkoristilo svežnje reševanja dolga, vključno s posebnim programom oprostitve dolga.
Capital ratios year-end 2009-2011 and forecast 2012-2014
Konec leta 2010 je banka ustanovila tudi posebno službo za svetovanje glede dolga za fizične osebe.
Tier 1 capital
Banka meni, da je bila ta ureditev pomembna zaradi velikega števila težkih primerov izterjave dolga, ki so jih obravnavali.
Tier 2 capital
Cilj banke je prestrukturiranje dolga gospodinjstev zaključiti do konca leta 2012.
Total capital
Cilj programov izterjave doga je izboljšati kakovost sredstev.
Risk-weighted assets
Ukrepi za omejitev deviznih neravnovesij
Tier 1 ratio
Posojila v tujih valutah (FX) so v portfelju posojil razdeljena na posojila FX/FX in posojila FX/ISK.
CAD ratio
Posojila FX/FX so posojila, pri katerih stranke ustvarjajo dohodek v tuji valuti, posojila FX/ISK pa so posojila v tujih valutah, pri katerih stranke ustvarjajo dohodek v islandskih kronah.
The Bank's assessment, according to the ICAAP report of April 2012, is that a capital of […] billion ISK is needed to cover its risk exposure.
Devizno neravnovesje banke povzroča predvsem del FX/ISK.
The Bank has a capital base of […] billion ISK and thus holds a capital buffer of […] billion ISK.
V letih 2010 in 2011 je banka uspešno zmanjševala devizno neravnovesje.
Based on the current Risk Weighted Amount this translates to a capital ratio of […] %.
Le-to se bo v letu 2012 še zmanjševalo s ponovno pretvorbo posojil fizičnim osebam v tujih valutah v islandske krone ter ukrepi za spodbujanje gospodarskih družb z omejenim prihodkom v tujih valutah, da svoja posojila ponovno pretvorijo v islandske krone.
It has been the policy of Arion Bank to refrain from paying dividends until 2013.
Glede posojil v tujih valutah še vedno obstaja pravna negotovost, vendar si banka prizadeva zmanjšati neravnovesje FX/ISK, tako da bi bilo do konca leta neravnovesje v okviru zahtev CBI.