natgillin/translations-raw huggingface dataset:
Adapting the Crisis Guidelines can help to ensure a smooth passage to the future regime under the European Commission's proposal for a directive for the recovery and resolution of credit institutions [5] (‘BRRD’) by providing more clarity to markets.
Za omejitev izkrivljanja konkurence med bankami in v državah EGP ter obravnavanje moralnega tveganja bi bilo treba zlasti omejiti pomoč na najmanjšo potrebno in zagotoviti ustrezen prispevek upravičenca do pomoči k stroškom prestrukturiranja.
The adapted Crisis Guidelines can also ensure more decisive restructuring and stronger burden-sharing for all banks in receipt of State aid in the entire EEA market.
Banka in njeni delničarji bi morali z lastnimi sredstvi čim več prispevati k prestrukturiranju [6].
Exercising State aid control for the financial sector sometimes interacts with responsibilities of supervisory authorities in EFTA States.
Državno pomoč je treba dodeliti pod pogoji, ki zagotavljajo ustrezno porazdelitev bremena med tistimi, ki so vložili v banko.
For example, in certain cases, supervisory authorities might require adjustments in matters such as corporate governance and remuneration practices which for banks benefitting from State aid are often also set out in restructuring plans.
Od začetka krize Nadzorni organ pri oceni združljivosti pomoči bankam zahteva vsaj minimalno stopnjo porazdelitve bremena glede na znesek pomoči, ki ga prejmejo zadevne banke, zlasti s pokrivanjem izgub z razpoložljivim kapitalom in zagotavljanjem ustreznega nadomestila za posredovanje države.
In such cases, whilst fully preserving the Authority's exclusive competence in State aid control, coordination between the Authority and the competent supervisory authorities is of importance.
Da bi preprečil odliv sredstev, je poleg tega uvedel predpise o povratnem odkupu hibridnih instrumentov ter prepovedi v zvezi s kuponi in dividendami.
Given the evolving regulatory and supervisory landscape in the EEA and, in particular, in the euro area, the Authority will liaise closely — as it does already today — with supervisory authorities to ensure a smooth interplay between the different roles and responsibilities of all the authorities involved.
Vendar Nadzorni organ ni določil vnaprejšnjih pragov za lastne prispevke ali kakršnih koli nadaljnjih zahtev [7].
Burden-sharing
V začetnih fazah krize države EGP na splošno niso presegle minimalnih zahtev glede vnaprejšnje porazdelitve bremena, določenih v okviru pravil o državni pomoči, in upnikom ni bilo treba prispevati k reševanju kreditnih institucij, da bi se zagotovila finančna stabilnost.
The Crisis Guidelines clearly spell out that even during the crisis the general principles of State aid control remain applicable.
Vendar je državna dolžniška kriza jasno pokazala, da s takšno politiko ni mogoče zagotoviti dolgoročne finančne stabilnosti, zlasti za države EGP, katerih fiskalni položaj je bistveno oslabljen zaradi stroškov reševanja bank z javnimi sredstvi.
In particular, in order to limit distortions of competition between banks and across EEA States and address moral hazard, aid should be limited to the minimum necessary and an appropriate own contribution to restructuring costs should be provided by the aid beneficiary.
Nekatere države EGP so dejansko morale preseči minimalne zahteve v okviru pravil o državni pomoči, pri čemer na podlagi novih pravnih okvirov, ki so jih uvedle, izvajajo strožje zahteve glede vnaprejšnje porazdelitve bremena.
The bank and its capital holders should contribute to the restructuring as much as possible with their own resources [6].
S tem so se v državah EGP oblikovali različni pristopi k porazdelitvi bremena, in sicer so se nekatere države EGP omejile na minimalne zahteve v skladu s pravili o državni pomoči, druge pa so presegle te zahteve in uvedle reševanje s sredstvi vlagateljev ali posojilodajalcev.
State support should be granted on terms which represent an adequate burden-sharing by those who invested in the bank.
Zaradi teh razlik v pristopu držav EGP k porazdelitvi bremena se razlikujejo tudi stroški financiranja bank, ki so odvisni od zaznane verjetnosti reševanja s sredstvi upnikov kot funkcije fiskalne moči države EGP.
Since the start of the crisis, when examining the compatibility of aid to banks the Authority has required at least a minimum degree of burden-sharing relative to the amount of aid received by those banks, in particular by absorbing losses with available capital and by paying an adequate remuneration for State interventions.
Te razlike ogrožajo celovitost trga EGP in bi lahko ogrozile enake konkurenčne pogoje, ki naj bi se zaščitili z nadzorom državne pomoči.
Furthermore, in order to prevent the outflow of funds, it has introduced rules on the buyback of hybrid instruments and coupon and dividend bans.
Ob upoštevanju navedenega razvoja je treba povečati minimalne zahteve glede porazdelitve bremena.
However, the Authority did not set ex ante thresholds for own contributions or any further requirements [7].
Preden se banki dodeli kakršna koli pomoč za prestrukturiranje, bodisi dokapitalizacija bodisi ukrep za oslabljena sredstva, je treba uporabiti vse ukrepe za povečanje kapitala, vključno s pretvorbo podrejenega dolga, pri čemer je treba zagotoviti spoštovanje temeljnih pravic in preprečiti ogrožanje finančne stabilnosti.
In the first phases of the crisis, EEA States did not generally go beyond the minimum requirements set by State aid rules with regard to burden-sharing ex ante, and creditors were not required to contribute to rescuing credit institutions for reasons of financial stability.
Ker je za preprečitev morebitnega neurejenega propada banke potrebna vsaka pomoč za prestrukturiranje, je treba za čim večje zmanjšanje te pomoči upoštevati navedene ukrepe glede porazdelitve bremena, ne glede na prvotno plačilno sposobnost banke.
The sovereign crisis has, however, made clear that such a policy could not ensure financial stability in the long-term, in particular for EEA States in which the cost of bank bail-outs significantly weakened their fiscal position.
Zato bodo morale države Efte, preden bodo banki dodelile pomoč za prestrukturiranje, zagotoviti, da delničarji in podrejeni imetniki kapitala banke poskrbijo za potrebni prispevek, ali vzpostaviti pravni okvir, ki je potreben za pridobitev teh prispevkov.
Indeed some EEA States had to go beyond minimum requirements under State aid rules and by introducing new legal frameworks enforce stricter ex ante burden-sharing requirements.
Uporaba ukrepov za omejevanje izkrivljanj konkurence je načeloma odvisna od stopnje porazdelitve bremena, pri čemer se upošteva tudi razvojna stopnja porazdelitve bremena bank v EGP, ki prejemajo pomoč.
That development led to diverging approaches to burden-sharing across EEA States, namely those that have limited themselves to the minimum requirements under State aid rules and those which have gone beyond those requirements, requiring bail-in of investors or creditors.
Če so vse druge okoliščine enake, večja porazdelitev bremena torej pomeni, da je potreba po ukrepih za odpravljanje izkrivljanja konkurence manjša.
Such differences in the approach to burden-sharing between EEA States have led to divergent funding costs between banks depending on the perceived likelihood of a bail-in as a function of an EEA State's fiscal strength.
V vsakem primeru je treba ukrepe za omejevanje izkrivljanja konkurence določiti tako, da se razmere čim bolj približajo razmeram na trgu, ki bi nastale, če bi upravičenec do pomoči s trga izstopil brez odobrene pomoči.
They pose a threat to the integrity of the EEA market and risk undermining the level playing field which State aid control aims to protect.
Učinkovit postopek prestrukturiranja in nadaljnja posodobitev okvira
In the light of the above developments, the minimum requirements for burden-sharing should be raised.
Medtem ko je treba zaradi reševanja stalnih pretresov na finančnih trgih nujno ohraniti nekatere podporne ukrepe za banke, je treba nekatere postopke in pogoje izboljšati ter jih dodatno razviti.
Before granting any kind of restructuring aid, be it a recapitalisation or impaired asset measure, to a bank all capital generating measures including the conversion of junior debt should be exhausted, provided that fundamental rights are respected and financial stability is not put at risk.
Prav tako si je treba prizadevati za prilagoditev pravnega okvira razvoju trga, ki se je junija 2010 začela z zvišanjem premije za jamstvo [8] in nadaljevala s smernicami o podaljšanju iz leta 2011 [9].
As any restructuring aid is needed to prevent the possible disorderly demise of a bank, in order to reduce the aid to the minimum those burden sharing measures should be respected regardless of the initial solvency of the bank.
Smernice o bančništvu iz leta 2008 so državam Efte omogočile uvedbo shem za reševanje, hkrati pa ni bila izključena razpoložljivost ad hoc posredovanj.
Therefore, before granting restructuring aid to a bank EFTA States will need to ensure that the bank's shareholders and junior capital holders arrange for the required contribution or establish the necessary legal framework for obtaining such contributions.
Ob upoštevanju obsega krize in splošnega zmanjševanja zaupanja v celotnem finančnem sektorju EGP, ki ga med drugim zaznamuje izčrpavanje medbančnega trga, je Nadzorni organ sklenil, da bo odobril vse potrebne ukrepe, ki jih bodo države Efte sprejele za zaščito stabilnosti finančnega sistema, vključno z ukrepi za reševanje in shemami za dokapitalizacijo.
In principle, the application of measures to limit distortions of competition depends on the degree of burden-sharing, and also takes into account the evolving level of burden-sharing of aided banks across the EEA.
Z začasno odobritvijo pomoči za reševanje v obliki jamstev ter dokapitalizacije in ukrepov za oslabljena sredstva se je uspešno preprečil preplah in ponovno vzpostavilo zaupanje v trg.
All other matters being equal, enhanced burden-sharing therefore implies a reduced need for measures addressing competition distortions.
Vendar je v spremenjenih tržnih razmerah manjša potreba po strukturnih ukrepih za reševanje, odobrenih zgolj na podlagi predhodne ocene, ki temelji na predpostavki, da je pravzaprav treba rešiti vse banke, in zaradi katere se odloži poglobljena ocena načrta prestrukturiranja.
In any event, measures to limit distortions of competition should be calibrated in such a way so as to approximate as much as possible the market situation which would have materialised if the beneficiary of the aid had exited the market without aid.
Čeprav je ta pristop pomagal preprečiti nepopravljiv zlom finančnega sektorja kot celote, so posamezni upravičenci pogosto odlašali s prizadevanji za prestrukturiranje.
An effective restructuring procedure and further modernisation of the framework
Zaradi poznega ukrepanja pri obravnavanju težav bank so bili v nekaterih primerih končni stroški davkoplačevalcev višji.
Whilst it is necessary to retain certain support facilities for banks so as to address continued turmoil on the financial markets, certain procedures and conditions should be improved and further developed.
V teh smernicah je določeno načelo, da bodo dokapitalizacija in ukrepi za oslabljena sredstva odobreni šele, ko bo odobren načrt prestrukturiranja banke.
It is also necessary to pursue the process of aligning the legal framework to market evolution, which started in June 2010 with the increase of the guarantee fee [8] and continued with the 2011 Prolongation Guidelines [9].
Ta pristop zagotavlja, da je znesek pomoči natančneje določen, da so vzroki težav banke ugotovljeni in obravnavani že v zgodnji fazi ter da je zagotovljena finančna stabilnost.
The 2008 Banking Guidelines enabled EFTA States to put rescue schemes in place whilst at the same time not excluding the availability of ad hoc interventions.
Jamstvene sheme bodo še naprej na voljo, da se bankam zagotovi likvidnost.
Given the scale of the crisis and the general erosion of confidence within the whole EEA financial sector with, inter alia, the drying-up of the interbank market, the Authority decided that it would approve all necessary measures taken by EFTA States to safeguard the stability of the financial system, including rescue measures and recapitalisation schemes.
Vendar lahko te sheme zagotovijo likvidnost le bankam brez kapitalskega primanjkljaja v skladu z opredelitvijo pristojnega nadzornega organa [10].
The temporary approval of rescue aid both in the form of guarantees as well as recapitalisation and impaired asset measures succeeded in averting panic and restoring market confidence.
nadomeščajo smernice o bančništvu iz leta 2008 in zagotavljajo navodila glede meril združljivosti za likvidnostno podporo;
However, in the changed market conditions, there is less need for structural rescue measures granted solely on the basis of a preliminary assessment which is based on the premise that practically all banks need to be rescued and which postpones the in-depth assessment of the restructuring plan to a later stage.
prilagajajo in dopolnjujejo smernice o dokapitalizaciji in o oslabljenih sredstvih;
Whilst such an approach helped prevent the irremediable collapse of the financial sector as a whole, restructuring efforts of individual beneficiaries were often delayed.
dopolnjujejo smernice o prestrukturiranju, tako da zagotavljajo podrobnejša navodila glede porazdelitve bremena med delničarji in podrejenimi upniki;
Late action to address banks' problems has resulted in some cases in a higher final bill to the taxpayers.
uvajajo načelo, da dokapitalizacije ali ukrepa za zaščito sredstev ni mogoče odobriti brez predhodne odobritve načrta za prestrukturiranje, in predlagajo postopek za stalno odobritev takšnih ukrepov;
These Guidelines establish the principle that recapitalisation and impaired asset measures will be authorised only once the bank's restructuring plan is approved.
zagotavljajo navodila za zahteve glede združljivosti v zvezi s pomočjo za likvidacijo.
Guarantee schemes will continue to be available in order to provide liquidity to banks.
Nadzorni organ bo uporabil načela iz teh smernic in vseh smernic o finančni krizi [11] za „kreditne institucije“ (imenovane tudi „banke“) [12].
Such schemes can, however, only serve as a means to provide liquidity to banks without a capital shortfall as defined by the competent supervisory authority [10].
Za kreditne institucije je značilna visoka stopnja povezanosti, zato ima lahko neurejen propad ene kreditne institucije velik negativen učinek na finančni sistem kot celoto.
These Guidelines set out the necessary adaptations to the parameters for the compatibility of crisis-related State aid to banks as from 1 December 2013.
Kreditne institucije so dovzetne za nenadno zmanjšanje zaupanja, ki lahko resno ogrozi njihovo likvidnost in plačilno sposobnost.
In particular, these Guidelines:
Težave ene same kompleksne institucije lahko povzročijo sistemske težave v finančnem sektorju, to pa ima lahko tudi velik negativni učinek na gospodarstvo kot celoto, na primer zaradi vloge kreditnih institucij pri posojilih realnemu gospodarstvu, in lahko torej ogrozi finančno stabilnost.
replace the 2008 Banking Guidelines, and provide guidance on the compatibility criteria for liquidity support;
Nadzorni organ bo za zavarovalnice v smislu člena 6 Direktive Sveta 73/239/EGS [13], člena 4 Direktive 2002/83/ES Evropskega parlamenta in Sveta [14] ali člena 1(b) Direktive Evropskega parlamenta in Sveta 98/78/ES [15] po potrebi smiselno uporabljal načela iz teh smernic in vseh smernic o finančni krizi.
adapt and complement the Recapitalisation and Impaired Assets Guidelines;
V okviru teh smernic se bodo proučile vse pomoči takim institucijam, ki so ustanovljene v državi Efte, vključno s podružnicami takih institucij, in ki opravljajo pomembne dejavnosti v državi Efte ali državi članici EU.
supplement the Restructuring Guidelines by providing more detailed guidance on burden-sharing by shareholders and subordinated creditors;
DOKAPITALIZACIJA IN UKREPI ZA OSLABLJENA SREDSTVA
establish the principle that no recapitalisation or asset protection measure can be granted without prior authorisation of a restructuring plan, and propose a procedure for the permanent authorisation of such measures;
Dokapitalizacija in ukrepi za oslabljena sredstva, vključno z jamstvi za sredstva, so običajno odobreni z namenom kritja kapitalskega primanjkljaja.
provide guidance on the compatibility requirements for liquidation aid.
„Kapitalski primanjkljaj“ se v teh smernicah nanaša na kapitalski primanjkljaj, ugotovljen pri preverjanju ustreznosti kapitala, testu izjemnih situacij, pregledu kakovosti sredstev ali pri podobnem ukrepu na ravni EGP, euroobmočja ali nacionalni ravni, ki ga po potrebi potrdi pristojni nadzorni organ.
SCOPE
Takšna državna pomoč je običajno trajna in je ni mogoče enostavno ukiniti.
The Authority will apply the principles set out in these Guidelines and all Crisis Guidelines [11] to ‘credit institutions’ (also referred to as ‘banks’) [12].
Ob upoštevanju nepreklicnosti takšnih ukrepov v praksi in fiskalnih posledic za države Efte, ki dodelijo pomoč, ter glede na prakso odločanja Nadzornega organa med krizo lahko Nadzorni organ te ukrepe načeloma odobri šele, ko zadevna država Efte dokaže, da so se v največji možni meri uporabili vsi ukrepi za omejitev pomoči na najmanjši potrebni znesek.
Credit institutions exhibit a high degree of interconnectedness in that the disorderly failure of one credit institution can have a strong negative effect on the financial system as a whole.
V ta namen so države Efte pozvane, naj pred predložitvijo načrta prestrukturiranja ali skupaj z njim predložijo načrt za zbiranje kapitala.
Credit institutions are susceptible to sudden collapses of confidence that can have serious consequences for their liquidity and solvency.
Načrt za zbiranje kapitala mora vključevati zlasti ukrepe banke za zbiranje kapitala in morebitne ukrepe delničarjev in podrejenih upnikov banke za porazdelitev bremena.
The distress of a single complex institution may lead to systemic stress in the financial sector, which in turn can also have a strong negative impact on the economy as a whole, for example through the role of credit institutions in lending to the real economy, and might thus endanger financial stability.
Načrt za zbiranje kapitala mora skupaj s podrobnim pregledom kakovosti sredstev banke in v prihodnost usmerjeno oceno kapitalske ustreznosti državi Efte omogočiti, da skupaj z Nadzornim organom in pristojnim nadzornim organom natančno določi (preostali) kapitalski primanjkljaj banke, ki ga je treba pokriti z državno pomočjo.
The Authority will apply the principles set out in these Guidelines and all Crisis Guidelines where appropriate mutatis mutandis to insurance companies within the meaning of Article 6 of Council Directive 73/239/EEC [13], Article 4 of Directive 2002/83/EC of the European Parliament and of the Council [14] or Article 1(b) of Directive 98/78/EC of the European Parliament and of the Council [15].
Za vsak tak preostali kapitalski primanjkljaj, ki ga je treba pokriti z državno pomočjo, je treba predložiti načrt prestrukturiranja.
All aid to such institutions incorporated in an EFTA State, including subsidiaries of such institutions, and having significant activities in an EFTA State or EU Member State will be examined under these Guidelines.
Načrt prestrukturiranja, ki vključuje pomoč za prestrukturiranje, razen zahtev glede zbiranja kapitala in porazdelitve bremena, ki jih je treba vključiti v načrt zbiranja kapitala, kot je določeno v točkah 32 do 34, ki je predložen pred načrtom prestrukturiranja ali skupaj z njim, se bo še naprej ocenjeval na podlagi smernic o prestrukturiranju.
RECAPITALISATION AND IMPAIRED ASSET MEASURES
ODPRAVLJANJE KAPITALSKEGA PRIMANJKLJAJA – FAZE PRED IN MED PRIGLASITVIJO POMOČI ZA PRESTRUKTURIRANJE
Recapitalisations and impaired asset measures including asset guarantees are typically granted to cover a capital shortfall.
Takoj po ugotovitvi kapitalskega primanjkljaja, za katerega bo verjetno potrebna državna pomoč, je treba sprejeti vse ukrepe za čim večje zmanjšanje stroškov države Efte, povezanih z odpravo tega primanjkljaja.
A ‘capital shortfall’ for the purposes of these Guidelines refers to a capital shortfall established in a capital exercise, stress-test, asset quality review or an equivalent exercise at the EEA, euro area or national level, where applicable confirmed by the competent supervisory authority.
V ta namen so države Efte pozvane, naj vzpostavijo stike z Nadzornim organom pred priglasitvijo.
Such public support is normally of a permanent nature and cannot be easily undone.
V fazi teh prostovoljnih stikov pred priglasitvijo bo Nadzorni organ zagotavljal pomoč v zvezi s tem, kako zagotoviti združljivost pomoči za prestrukturiranje in zlasti kako izvajati zahteve glede porazdelitve bremena v skladu s pravili o državni pomoči.
Given the irreversibility of such measures in practice and the fiscal implications for the granting EFTA States and in the light of the Authority's decisional practice during the crisis, the Authority can in principle only authorise them once the EFTA State concerned demonstrates that all measures to limit such aid to the minimum necessary have been exploited to the maximum extent.
Stiki pred priglasitvijo bodo temeljili na načrtu za zbiranje kapitala, ki ga pripravita država Efte in banka, potrdi pa pristojni nadzorni organ.
To that end, EFTA States are invited to submit a capital raising plan, before or as part of the submission of a restructuring plan.
Ta načrt bi moral:
A capital raising plan should contain in particular capital raising measures by the bank and potential burden-sharing measures by the shareholders and subordinated creditors of the bank.
vsebovati seznam ukrepov za zbiranje kapitala, ki jih bo sprejela banka, ter (morebitnih) ukrepov za porazdelitev bremena med delničarji in podrejenimi upniki;
A capital raising plan, in conjunction with a thorough asset quality review of the bank and a forward looking capital adequacy assessment, should enable the EFTA State, jointly with the Authority and the competent supervisory authority, to determine precisely the (residual) capital shortfall of a bank that needs to be covered with State aid.
zajemati zaščitne ukrepe za preprečevanje odlivov sredstev iz banke, ki bi lahko na primer nastali v banki zaradi pridobivanja deležev v drugih podjetjih ali izplačevanja dividend ali kuponov.
Any such residual capital shortfall which needs to be covered by State aid requires the submission of a restructuring plan.
Država Efte mora zagotoviti podrobno metodologijo in vhodne podatke, ki so se uporabili pri določitvi kapitalskega primanjkljaja in ki jih je potrdil pristojni nadzorni organ.
The restructuring plan involving restructuring aid will, with the exception of the requirements on capital raising and burden-sharing which must be included in the capital raising plan as set out in points (32) to (34), submitted prior to or as part of the restructuring plan, continue to be assessed on the basis of the Restructuring Guidelines.
Metodologijo je treba predložiti na podlagi področja poslovanja.
ADDRESSING A CAPITAL SHORTFALL — PRE-NOTIFICATION AND NOTIFICATION OF RESTRUCTURING AID
Po predložitvi načrta za zbiranje kapitala ter vključitvi rezultatov pregleda kakovosti sredstev banke in v prihodnost usmerjene ocene kapitalske ustreznosti mora država Efte določiti preostali kapitalski primanjkljaj, ki ga je treba pokriti z državno pomočjo.
As soon as a capital shortfall that is likely to result in a request for State aid has been identified, all measures to minimise the cost of remedying that shortfall for the EFTA State should be implemented.
Nadzorni organ bo državi Efte predlagal razpravo o načrtu prestrukturiranja pred njegovo priglasitvijo.
To that end, EFTA States are invited to enter into pre-notification contacts with the Authority.
Po sklenitvi dogovora v zvezi z načrtom prestrukturiranja lahko država Efte načrt uradno priglasi.