natgillin/translations-raw huggingface dataset:
In the case at hand, it is evident that the State obtained most (81,33 %) of Landsbankinn's ownership and will consequently receive the same share of future profits, whereas former shareholders receive none.
Ukrepi, značilni za banko Landsbankinn
The current minority shareholders who are former creditors will participate to some extent in future profits.
Nadzorni organ poudarja, da je prisotnost banke Landsbankinn na trgu in njena velikost edina ostalina banke Landsbanki – saj so bila skupna sredstva znižana za 75 %, kot je bilo opisano.
However, they will in all likelihood still have to bear significant losses, as set out above.
Banka Landsbankinn je za razliko od banke Landsbanki dejavna le na islandskem trgu.
In addition, Landsbankinn's performance since its establishment has been adequate, and the restructuring plan predicts stable profits for the next years.
Čeprav je večina tega zmanjšanja posledica likvidacijskega postopka mednarodnih dejavnosti banke Landsbanki, ima po mnenju Nadzornega organa ta proces glede izkrivljanja konkurence poseben pomen, kajti propad banke Landsbanki in izkrivljanje na finančnih trgih EGP je povzročila predvsem tvegana čezmorska strategija te banke v preteklosti [64].
Therefore the Authority considers that the requirement of Paragraph 26 of the Restructuring Guidelines, in conjunction with Paragraph 8 of the 2012 Financial Crisis Guidelines has been complied with.
Poleg tega Nadzorni organ odobrava zaveze banke Landsbankinn (glej Prilogo), da bo še zmanjšala prisotnost na domačem trgu z […] odprodajo, ki se nanaša na […].
Whilst the Spkef transaction, as described above, entails elements of state aid, the Authority considers that it is constructed in a manner that aims at excluding a direct financial advantage for Landsbankinn.
Nadzorni organ odobrava, da se je banka Landsbankinn zavezala, da bo med obdobjem prestrukturiranja zaprla […] podružnic.
In this regard, it recalls that the final compensation for taking on Spkef's deposits was determined by an independent arbitration committee.
Nadzorni organ se na podlagi končnega načrta prestrukturiranja in ob upoštevanju, da je banka Landsbankinn po merilih EGP majhna banka, strinja s to banko, da bi se lahko z dodatnimi strukturnimi ukrepi ogrozile možnosti za ponovno vzpostavitev dolgoročnega uspešnega poslovanja te banke [65].
Therefore, this transaction constitutes in essence a negotiated compensation for Landsbankinn in exchange for taking on the deposit liabilities of Spkef.
Nadzorni organ se je seznanil z zavezo banke Landsbankinn, da ta do 15. decembra 2014 ne bo prevzemala finančnih institucij, razen če dobi predhodno odobritev Nadzornega organa.
The Authority does not consider that this aid is of great significance for its burden-sharing assessment.
To pomeni, da se lahko prepreči, da bi banka Landsbankinn s prevzemi ustvarjala nadaljnjo koncentracijo na islandskem finančnem trgu.
Finally, as regards the deposit guarantee, the Authority has already indicated in the opening decision that — in light of the extraordinary circumstances at the time — it might constitute a proportionate means to safeguard financial stability in Iceland.
Enako velja tudi za zavezo banke Landsbankinn, v skladu s katero do 15. oktobra 2014 ne bo niti izvrševala pogodbenih klavzul niti uvajala novih pogodbenih klavzul, s katerimi se oblikujejo posebni pogoji za obrestne mere, odvisne od tega, kakšen najmanjši obseg dejavnosti z banko se ohranja, ter za zavezo, da se pri trženju svojih storitev ne bo sklicevala na vključenost države kot vir konkurenčne prednosti.
It is evident however that such aid cannot be approved indefinitely.
Kot je bilo navedeno, islandski finančni trg trenutno pomeni zahtevno operativno okolje za katero koli banko.
Thus, in order for this state aid to be considered as limited to the minimum necessary, the Authority is of the view that it needs to be terminated as soon as possible.
Nadzorni organ zato odobrava zaveze banke Landsbankinn v zvezi s poenostavitvijo zamenjave med bankami in zagotavljanjem osnovne obdelave plačil ter storitev izplačevanja gotovine.
The Authority therefore welcomes the intention of the Icelandic authorities to abolish the deposit guarantee before the capital controls are lifted, thus, pursuant to current planning, no later than the end of 2013.
Nadzorni organ meni, da ti ukrepi skupaj z navedenim sporazumom med tremi glavnimi bankami in Islandskim organom za konkurenco o družbi RB zagotavljajo, da je manjšim udeležencem na trgu omogočen dostop do najosnovnejše infrastrukture in storitev po razumnih cenah, ne da bi bili večji udeleženci zmožni ovirati njihov dostop.
So as to cater for delays in the lifting of the capital controls, and to reflect the Authority's view that a viable bank should be able to compete on the market without the protection of such a blanket guarantee on deposits, it will therefore authorise the deposit guarantee until the end of 2014.
Po njegovem mnenju bo to zmanjšalo ovire pri vstopu za prihodnje (možne) udeležence na trgu.
After that time, protection of deposits should be governed only by the applicable EEA legislation regarding deposit guarantees.
S temi ukrepi bi se lahko tudi omogočilo, da bi obstoječi manjši udeleženci povečali svoje tržne deleže, če lahko ponudijo boljše storitve kot večji konkurenti.
The Authority concludes that the restructuring plan of Landsbankinn ensures that the aid is limited to the minimum necessary and that the beneficiary, the shareholders and debt holders of its predecessor bank have participated significantly in the burden-sharing.
Ukrepi, s katerimi se bodo poenostavile zamenjave, bodo prispevali k ostrejši konkurenci med obstoječimi večjimi udeleženci, lahko pa bi tudi prispevali k preprečevanju ali razdoru morebitnega skupinskega prevladujočega položaja.
The restructuring aid thus complies with section 3 of the Restructuring Guidelines.
Banka Landsbankinn se zavezuje, da bo čim prej prodala deleže v operativnih družbah, ki so bile prevzete zaradi prestrukturiranja v skladu s členom 22 Zakona št. 161/2002 o finančnih podjetjih.
Limiting distortions of competition
Zavezuje se, da bo ravnala v skladu s postopkom in roki iz te določbe ter da bo redno posodabljala informacije na svojem spletišču (ali spletišču podružnice) glede podružnic ali deležev, ponujenih v odprodajo.
The Restructuring Guidelines provide in section 4, paragraphs 29-32:
Poleg tega se je banka Landsbankinn zavezala, da bo do določenih rokov v obdobju prestrukturiranja prodala […].
‘Financial stability remains the overriding objective of aid to the financial sector in a systemic crisis, but safeguarding systemic stability in the short-term should not result in longer-term damage to the level playing field and competitive markets.
Nadzorni organ odobrava splošno zavezo banke Landbankinn, da bo čim prej prodala vse družbe in deleže, ki niso povezani z njeno osnovno dejavnostjo.
In this context, measures to limit distortions of competition due to state aid play an important role.
S tem se ne bodo le obravnavali morebitni pomisleki glede konkurence, ki bi se lahko pojavili zaradi tega, ker gre za tako dominantnega lastnika v islandskem realnem gospodarstvu, ampak se bo tudi preprečilo, da bi se ogrozilo uspešno poslovanje banke.
[…] Measures to limit the distortion of competition should be tailor-made to address the distortions identified on the markets where the beneficiary bank operates following its return to viability post restructuring, while at the same time adhering to a common policy and principles.
S tem se pozornost islandskih organov in banke Landsbankinn usmerja na dejstvo, da bi lahko kršitev nacionalnega prava zaradi zavez pomenila tudi nepravilno uporabo pomoči.
The Authority takes as a starting point for its assessment of the need for such measures, the size, scale and scope of the activities that the bank in question would have upon implementation of a credible restructuring plan as foreseen in Section 2 of this Chapter.
Nadzorni organ še meni, da se s tem, ko mora na spletišče vključiti informacije o predvidenih odprodajah in prodajah, uvaja večja preglednost v trenutni lastniški položaj v islandskem gospodarstvu.
[…] The nature and form of such measures will depend on two criteria: first, the amount of the aid and the conditions and circumstances under which it was granted and, second, the characteristics of the market or markets on which the beneficiary bank will operate.
To vsaj do neke mere izboljša ta poseben pomislek glede konkurence, ki je trenutno značilen za islandske trge.
As regards the first criterion, measures limiting distortions will vary significantly according to the amount of the aid as well as the degree of burden sharing and the level of pricing.
Nadzorni organ na podlagi navedenega meni, da se z zgornjimi ukrepi obravnavajo najpomembnejši pomisleki glede konkurence, ki jih je opredelil v sodelovanju z Islandskim organom za konkurenco.
Generally speaking, where there is greater burden sharing and the own contribution is higher, there are fewer negative consequences resulting from moral hazard.
Nadzorni organ ugotavlja, da se z zavezami zadovoljivo omejuje izkrivljanje konkurence, pri čemer upošteva najpomembnejši cilj, tj. finančno stabilnost.
As regards the second criterion, the Authority will analyse the likely effects of the aid on the markets where the beneficiary bank operates after the restructuring.
Pomoč za prestrukturiranje je torej skladna z oddelkom 4 smernic o prestrukturiranju.
First of all, the size and the relative importance of the bank on its market or markets, once it is made viable, will be examined.
SKLEP
The measures will be tailored to market characteristics to make sure that effective competition is preserved.
Na podlagi zgornje ocene in glede na načrt prestrukturiranja, ki so ga islandski organi predložili za banko Landsbankinn, so odpravljeni pomisleki Nadzornega organa iz odločbe o začetku postopka v zvezi z naravo in združljivostjo ukrepov pomoči za to banko.
[…] Measures limiting distortions of competition should not compromise the prospects of the bank's return to viability.’
Nadzorni organ ne vloži ugovora o transakciji hranilnice SpKef in dovoljuje pomoč, ki jo je prejela hranilnica SpSv.
It follows from the above that the size of the aid, particularly in relative terms, and the market characteristics are essential in the Authority's assessment of the appropriateness of measures to limit distortions of competition.
Nadzorni organ zato ukrepe pomoči sprejema kot pomoč za prestrukturiranje, združljivo z delovanjem Sporazuma EGP v skladu s členom 61(3)(b) Sporazuma EGP, glede na to da Islandija in banka Landsbankinn spoštujeta zaveze iz Priloge –
At the same time, it is evident that such measures must not jeopardise the viability of the beneficiary of restructuring aid, and competition concerns must be addressed with a view to the overriding goal of financial stability in the present crisis.
SPREJEL NASLEDNJO ODLOČBO:
Against the background of the above legal framework, the Authority will set out below the considerations that it deems essential for its assessment of the measures limiting distortions of competition.
Člen 1
First and foremost the Authority considers that given the particular situation on the Icelandic financial markets a careful assessment of the market conditions and the competitive environment is necessary.
Ustanovni kapital za poslovanje in končna državna kapitalizacija, dodeljena banki Landsbankinn, ter transakcija hranilnice SpKef in jamstvo za vloge pomenijo državno pomoč v smislu člena 61(1) Sporazuma EGP.
The measures limiting the distortion of competition should reflect the current difficult circumstances, while ensuring that the distortions of competition are limited to a minimum both in the short-term and the long-term.
Člen 2
Second, as set out above in the section on burden-sharing, the greatest possible contribution from the former owners of Landsbanki, and to some extent, of Landsbanki's creditors has been addressed.
Glede na to, da islandski organi niso izpolnili zahteve, da je treba pomoč pred začetkom njenega izvajanja v skladu s členom 1(3) dela I Protokola 3 priglasiti Nadzornemu organu, pomenijo ukrepi iz člena 1 nezakonito državno pomoč od datuma začetka izvajanja do datuma te odločbe.
Consequently, the need for additional competition measures has been limited.
Člen 3
Third, as regards the characteristics of the relevant market, the collapse of the financial system in Iceland, followed by the interventions of the Icelandic authorities, led to a greater concentration in the Icelandic market for financial services, and substantially increased the market share by the three major banks — Íslandsbanki, Arion Bank and Landsbankinn.
Ukrepi iz člena 1 ter ukrepi za hranilnico SpSv, opisani v odločbi o hranilnicah, so združljivi z delovanjem Sporazuma EGP v skladu s členom 61(3)(b) Sporazuma EGP na podlagi spoštovanja zavez, kot so določene v Prilogi.
Beside these, only a few small market players remain, and the immediate prospect of a new entry is slim, due to the already mentioned barriers to entry and the small size of the market and in particular due to the capital controls.
Dovoljenje za jamstvo za vloge je omejeno do konca leta 2014.
Landsbankinn enjoys a very significant position on this concentrated market, with a market share of over 30 % in the most segments.
Člen 4
It is the largest Icelandic bank in terms of balance sheet.
Ta odločba je naslovljena na Republiko Islandijo.
Fourth, the crisis led to a number of very specific problems, such as the extremely high degree of direct and indirect ownership of the large banks in the real economy, and the emergence of a de-facto monopoly for banking IT-services (RB), majority owned by the three banks.
Člen 5
Fifth, the relative size of aid that Landsbankinn has received is significant.
Besedilo te odločbe v angleškem jeziku je edino verodostojno.
In this regard, the Authority notes that at the outset the entire capital of the bank was provided by the State.
V Bruslju, 11. julija 2012
In addition, the bank has benefited from other of aid measures — the Spkef transaction and the deposit guarantee.
Za Nadzorni organ Efte
Moreover, SpSV has received aid before it was taken over by Landsbankinn.
Predsednica
At the same time, Landsbankinn remains a small bank, at least by international standards.
Član kolegija
Sixth, the bank's takeovers of Spkef and SpSv call for additional competition measures.
Ta dokument je na voljo samo v informativne namene.
In the SpSv decision, the Authority emphasised that Landsbankinn's restructuring plan needs to comprise such measures.
V tej javni različici so bile nekatere informacije zaradi zaupnosti informacij izpuščene.
Against this background, the Authority notes that a number of measures have been or will be taken that limit the distortions of competition resulting from the state aid granted to Landsbankinn.
To je označeno s […] ali razponom v oglatih oklepajih, ki pomeni nezaupen približek podatka.
Measures and regulatory developments undertaken or committed to by the Icelandic authorities
Glej podrobnejši opis v odločbi o začetku postopka, naveden v opombi 3.
The Icelandic government has specifically made two commitments (see Annex) which in the Authority's view can contribute to creating a regulatory environment that favours competition in financial markets:
Odločba Nadzornega organa št. 493/10/COL, o začetku formalnega postopka preiskave glede odobrene državne pomoči za prestrukturiranje nekaterih dejavnosti (nekdanje) banke Landsbanki Islands hf ter ustanovitev in kapitalizacijo banke New Landsbanki Islands (NBI hf) (zdaj preimenovana v Landsbankinn), UL C 41, 10.2.2011, str. 31, in Dopolnilo EGP k Uradnemu listu Evropske unije št. 7, 10.2.2011, str. 26.
First, by appointing a working group that will review Act No 36/1978 on Stamp Duty, and by examining in particular whether to abolish stamp duties for bonds issued by individuals when transferred between creditors (e.g. when individuals transfer their loans from one loan institution to another).
V poročilu je bilo treba tudi omeniti, da je le nekaj dni prej glavni lastnik (naveden zgoraj) prejel posojilo v višini 153 milijonov EUR, z navedbo, da je bilo zato „očitno, da se glavni lastniki banke Landsbanki niso zanimali za pomoč banki ali niso bili zmožni pomagati banki iz težkega položaja, ki je nastal“.
The Authority considers that the current law — which, inter alia, obliges customers to pay stamp duty on the amount of the respective bond [62] when switching lenders — may be capable of constituting an impediment to competition, as it may lock customers to existing contracts on long term loans.
Člani posebne preiskovalne komisije so bili Páll Hreinsson, sodnik vrhovnega sodišča, Tryggvi Gunnarsson, parlamentarni varuh človekovih pravic Islandije, ter dr. Sigríður Benediktsdóttir, predavateljica in pridružena profesorica na univerzi Yale v ZDA.
The Authority thus welcomes the commitment for this law to be reviewed.
Celotno poročilo je v islandščini na voljo na: http://rna.althingi.is/, v angleščino prevedeni deli (vključno s Povzetkom in poglavjem o vzrokih za propad bank) so na voljo na: http://sic.althingi.is/.
Second, the Authority takes note of that in accordance with a resolution passed by the Icelandic parliament on 21 March 2012, a committee will be appointed by the government with the mandate to review consumer protection in the financial market.
Islandska króna.
This will include a specific mandate for the review of switching facilitation and switching costs reduction, and for the committee to work closely with the ICA as regards that issue.
Posojanje tujim strankam je v šestih mesecih naraslo za 11,4 milijarde EUR, in sicer z 9,3 milijarde EUR na 20,7 milijarde EUR.
The Committee shall present its report no later than 15 January 2013.
Poglavje 21.2.1.2 (na strani 6) poročila.
Such a closer assessment could be of benefit for competition in the long-run.
Dejansko je bila navedena politika tedanje koalicijske vlade pospeševati več rasti in spodbujati banke, naj ohranijo sedež na Islandiji.
In the meantime the bank-specific commitment by Landsbankinn discussed below should contribute to making switching easier, and thereby will increase competition.
Poglavje 2 (na strani 5) poročila.
The Authority welcomes the settlement that ICA and the owners of RB, including the three major banks, have reached on this issue as it endeavours to ensure access to essential IT-infrastructure on a non-discriminatory basis and at reasonable cost for small competitors and potential new market entrants.
Za dodatne splošne podrobnosti o ukrepih, ki so jih sprejeli islandski organi, glej poročilo Ministra za finance parlamentu o oživitvi komercialnih bank maja 2011 (Skýrsla fjármálaráðherra um endurreisn viðskiptabankanna), na voljo na: http://www.althingi.is/altext/139/s/-pdf/1213.pdf.
The Authority is of the view that its concerns, as voiced, inter alia, in the second Byr [63] decision, have been addressed in a satisfactory manner by this settlement.
Zakon št. 125/2008 o organu za izplačila iz državne blagajne zaradi nepredvidenih razmer na finančnem trgu itd.
Thus, there is no need for the Authority to further address this issue in the current decision.
Glej tudi letno poročilo za leto 2009 Organa za finančni nadzor (julij 2008 – junij 2009), na voljo na: http://en.fme.is/media/utgefid-efni/FME-Annual-Report-2009.pdf.
Finally, the Authority takes note of the regulatory amendments that have been made since 2008, as discussed in the Annex.
Sledili naj bi nadaljnji prevzemi finančnih podjetij.
As regards competition concerns, the introduction of Article 22 in Act on financial undertakings No 161/2002 is of particular relevance.
Organ za finančni nadzor je marca 2009 prevzel nadzor nad dejavnostmi treh finančnih podjetij, tj. Straumur-Burdaras, Reykjavik Savings Bank (SPRON) in Sparisjodabanki Íslands (Icebank), odločil se je za prodajo sredstev in obveznosti teh podjetij.
This provision limits the participation of financial undertakings in activities falling outside the scope of their operating licenses.
Za podjetji SPRON in Sparisjodabanki sta bila uvedena postopka likvidacije, medtem ko je bil z upniki podjetja Straumur pozneje odobren sporazum o poravnavi.
According to this new rule, such activities may only be pursued on a temporary basis and for the purpose of concluding transactions or reorganising the activities of customers.
Aprila 2010 je prevzel nadzor nad hranilnicama Keflavík in Byr ter odločil, da bosta njune dejavnosti prevzeli novi finančni podjetji, in sicer hranilnica SpKef oziroma Byr hf.
A reasoned notification to this effect must be sent to the FME, and time limits have been introduced for financial undertakings to complete reorganisation of their customers and dispose of appropriated assets.
Ker se je izkazalo, da so bili finančni pogoji v teh novih podjetjih slabši od pričakovanih, se je hranilnica SpKef pozneje združila s Landsbankinn, Byr hf. pa z Íslandsbanki po zbiranju ponudb za nakup delnic hranilnice Byr.
The Authority regards this change as an appropriate regulatory response to the issue of the disproportionately large ownership by financial institutions in the real economy.
Islandski organi so bili nadalje pozvani, da bi rešili finančne težave banke Saga Capital Investment Bank leta 2009, leta 2011 pa stanovanjskega finančnega sklada.
This provision appears to prevent that this situation — which is a direct result of debt-to-equity-swaps with becomes a permanent one.
Kot primer obsega strmega padca vrednosti se lahko navede mesečno povprečje menjalnega tečaja iz EUR v ISK, ki je z 90,71 ISK v decembru 2007 narasel na 184,64 ISK v novembru 2009.
Measures specific to Landsbankinn
Med leti 2009 in 2011 je bil delež naložb v BDP le 13–14-odstoten.
The Authority emphasises that Landsbankinn's market presence and size is only a fraction of that of Landsbanki — as total assets have been reduced by 75 %, as described above.
Trgovinska bilanca se nanaša na razliko pri zaslužku od izvoza in uvoza blaga in storitev.
Moreover, unlike Landsbanki, Landsbankinn is only active in the Icelandic market.
O tej zadevi glej na primer poročilo ministra za gospodarske zadeve parlamentu iz marca 2012: „Future Structure of the Icelandic Financial System“.
[64]
Poročilo je na voljo na: http://eng.efnahagsraduneyti.is/media/Acrobat/Future-Structure.pdf.
In addition, the Authority welcomes Landsbankinn's commitments (see Annex) to reduce its domestic market presence further by […] divestment relating to […].
Ponovna uporaba normalnih pogojev za zajamčene vloge se ne nanaša le na odpravo državne podpore za take vloge, ampak tudi na pregled določb iz zakona o izrednih razmerah, v skladu s katerimi imajo vloge, ki po zakonu uživajo jamstva, prednost pri likvidaciji finančnih podjetij.
Moreover, the Authority notes positively that Landsbankinn has committed to close […] branches during the restructuring period.
Glej poglavje 9 poročila ministra za gospodarske zadeve, navedenega v opombi št. 18.
On the basis of the final restructuring plan, and recalling that Landsbankinn is a small bank by EEA standards, the Authority agrees with Landsbankinn that further structural measures could endanger the bank's prospects of restoring long-term viability.
Minister za gospodarske zadeve je ob predstavitvi navedenega poročila imenoval tudi skupino strokovnjakov s področja bančništva, pri kateri sodelujejo tuji strokovnjaki, da pripravijo predloge o obsežnem pravnem in regulativnem okviru za finančni trg celotne Islandije.
[65]
Islandski organi naj bi v skladu s tem poročilom tudi predvidoma proučili druge prihodnje možnosti, vključno z možno razdelitvijo investicijskih in komercialnih bančnih dejavnosti, sprejetjem zakonodaje o finančni stabilnosti ter možno spremembo razdelitve pristojnosti regulativnih organov za finančne storitve.