natgillin/translations-raw huggingface dataset:
The former figure corresponds to the minimum capital required under Icelandic law for the foundation of a bank.
Država je novi banki zagotovila tudi dve podrejeni posojili, da bi okrepila njen lastniški kapital in likvidnostni položaj.
The latter figure was calculated as 10 % of an initial assessment of the likely size of the bank's total risk weighted assets.
Instrument A, ki je bil v tuji valuti, je takrat ustrezal znesku 29,5 milijard ISK.
Appropriation to this amount was formally included in the state budget for the year 2009 as an allocation of government funds to address the extraordinary circumstances in financial markets.
Posojilo je bilo v obliki kapitalskega instrumenta, ki je banki Arion Bank omogočil izdajo nezavarovanih podrejenih obveznic.
This allocation of capital was intended to provide an adequate guarantee for the operability of the bank until issues relating to its definite re-capitalisation could be resolved, including the size of its opening balances and a valuation of compensation payable to the old bank for assets transferred.
Instrument B je znašal 6,5 milijard ISK in ga je banka Arion Bank uporabila za plačevanje zadržanega dobička (dividend) državi v obdobju do uveljavitve Sporazuma o skupni kapitalizaciji.
Capital injection and retention of a 13 % stake as a part of the settlement with the creditors of the old bank
Instrumenti razreda 2, ki jih je zagotovila vlada, so temeljili na potrebi, da se zagotovi močna struktura kapitala, in so bili v skladu z zahtevami FME.
On 20 July 2009 the Icelandic Government announced that it had reached heads of agreement with the Resolution Committee of Kaupthing in respect of the initial capitalisation of New Kaupthing Bank (renamed Arion Bank as from 21 November 2009) and the basis for the compensation payable between the two parties.
Letna obrestna mera za prvih pet let je 400 baznih točk nad Euriborjem in 500 baznih točk nad Euriborjem za obdobje pet do deset let.
The Government conditionally agreed with the Resolution Committee of Kaupthing that the creditors should, through the Committee, be granted the option of acquiring majority shareholding in Arion Bank in order to facilitate the bank's independent development.
Pogoji za instrument B so enaki, razen za prva tri leta, ko je obrestna mera 300 baznih točk nad Euroborjem.
This would in effect involve the old bank providing the majority of the capital in Arion Bank, as a part of the compensation agreement.
Jamstvo za hranilne vloge
In the event that Kaupthing Bank would not complete the subscription for shares in Arion Bank, the Government would retain full ownership.
Da bi Islandija ravnala v skladu z Direktivo 97/9/ES Evropskega parlamenta in Sveta z dne 3. marca 1997 o odškodninskih shemah za vlagatelje [39] in Direktivo 94/19/ES Evropskega parlamenta in Sveta z dne 30. maja 1994 o sistemih zajamčenih vlog [40], je sprejela Zakon št. 98/1999 o jamstvu za hranilne vloge in o odškodninskih shemah za vlagatelje in ustanovila tako imenovani Jamstveni sklad vlagateljev in investitorjev (TIF), ki se je financiral z letnimi prispevki bank, izračunanimi glede na skupne vloge banke.
On 14 August 2009 the Government announced that it had committed to capitalise Arion Bank with 72 billion ISK of Tier I capital in the form of government bonds, giving the bank a Core Tier I ratio of approximately 12 %.
Po navedbah islandskih organov in da bi zagotovili nadaljnjo pomoč širši javnosti in ji zagotovili, da so v primeru krize njihove vloge varne, so ukrepi islandske vlade za sanacijo bank jeseni 2008 vključevali tudi dodatno državno podporo vlog v domačih komercialnih bankah in hranilnicah, zunaj področja uporabe Zakona št. 98/1999 o izvajanju Direktive 94/19/ES o jamstvu za hranilne vloge in Direktive 97/9/ES o odškodninskih shemah za vlagatelje.
The Government capitalisation of Arion Bank was executed on 9 October 2009, involving an injection of 71225 million ISK into the bank, back-dated to 22 October 2008, in addition to the initial 775 million ISK in cash.
Sporočilo Urada predsednika vlade z dne 6. oktobra 2008 navaja, da „vlada Islandije poudarja, da bodo vloge v domačih komercialnih bankah in hranilnicah ter v njihovih poslovalnicah na Islandiji v celoti krite“.
Total Government share capital was therefore 72 billion ISK.
Urad sedanjega predsednika vlade je v februarju in decembru 2009 ponovil to sporočilo.
In addition, the accrued interest on the government bond amounted to 9,2 billion ISK.
Poleg tega je bilo to sporočilo navedeno tudi v pismu o nameri, ki ga je islandska vlada 7. aprila 2010 poslala Mednarodnemu denarnemu skladu (in je objavljeno na spletni strani Ministrstva za gospodarske zadeve in na spletni strani MDS) (in ponovljeno v naslednjem pismu o nameri z dne 13. septembra 2010).
On 4 September 2009 the Government announced that definitive agreements had been reached regarding the capitalisation of Arion Bank and the basis for compensation.
V islandskem pismu o nameri (ki so ga podpisali islandski predsednik vlade, minister za finance, minister za gospodarske zadeve in guverner Centralne banke Islandije) navaja, da „Zaenkrat ostajamo zvesti zavezi, da bomo v celoti ščitili vlagatelje, ko pa bo zagotovljena finančna stabilnost, bomo načrtovali postopno odpravljanje tega splošnega jamstva.“ Ta oddelek predloga zakona o proračunu 2011, ki se nanaša na državna jamstva, v sprotni opombi navaja izjavo islandske vlade, da za vloge v islandskih bankah jamči država [41].
In line with the heads of agreement of 20 July 2009, the agreement principally contained provisions for two alternative agreements: capitalisation under old bank (creditor) ownership (Joint Capitalisation Agreement) or capitalisation under Government ownership (Alternative Capitalisation Agreement) [38].
Nedavna izjava sedanjega ministra za gospodarske zadeve in nekdanjega ministra za finance (2009-2011), Steingrímurja Sigfússona v razpravi v islandskem parlamentu o stroških vlade, ki so povezani s prevzemom hranilnice SpKef, s strani banke Landsbankinn, še bolje ponazarja zgoraj navedeno.
Under the former agreement, the creditors of Kaupthing had an opportunity to acquire (through the Resolution Committee) control of Arion Bank by subscribing to new share capital.
Po ministrovih besedah v tej zvezi ne smemo pozabiti izjave, ki jo je država dala jeseni leta 2008, da bodo vse vloge v hranilnicah in komercialnih bankah varne in zaščitene.
As the value of the liabilities transferred to Arion Bank exceeded the value of the assets transferred, Kaupthing was to pay for the new share capital from the old bank's own assets.
„V vseh primerih delo temelji na tem (tj.j. na izjavi) in na žalost je res, da bo to (t.j. plačilo zaradi SpKef) eden večjih računov, ki ga bo država poravnala neposredno, kot strošek za zavarovanje vlog vseh prebivalcev Suðurnesa … in vseh strank hranilnice SpKef v Zahodnih fjordih ter na zahodu in severozahodu … Mislim, da nihče ni pričakoval, da bi imetnike vlog s teh območij obravnavali drugače kot druge prebivalce, torej država v tej zadevi ni imela veliko izbire“ [42].
The amount of that compensation was calculated at 38 billion ISK, but was to be re-evaluated on a regular basis, based upon future performance of a certain loan portfolio.
Po navedbah islandske vlade bodo dodatna jamstva za hranilne vloge odpravljena pred popolno odpravo nadzora kapitalskih tokov, ki je po navedbah islandskih organov trenutno predvidena za konec leta 2013.
The Government would hold minority ordinary share capital, amounting to 13 % of Arion Bank.
Posebno likvidnostno posojilo
In order to comply with the supervisory sign-off requirement of the FME for an additional 4 % of Tier II capital, the Government would also contribute to the capital of Arion Bank in the form of a subordinated loan amounting to 24 billion ISK.
Vlada je banko Arion Bank financirala z vnosom 72 milijard ISK v odkupljivih državnih obveznicah v zameno za celoten lastniški kapital banke.
On 1 December 2009 an agreement was reached between the Government and Arion Bank, on the one hand, and Kaupthing's Resolution Committee, on the other, on settlements concerning assets and liabilities transferred from Kaupthing to the new bank.
Odločitev banke Kaupthing Bank, da izkoristi možnost pridobitve 87 % delnic banke pa je pomenila, da je bila večina teh obveznic vrnjena vladi.
On the same day the Resolution Committee of Kaupthing decided to exercise the option provided for in the Joint Capitalisation Agreement to take over 87 % of the share capital in Arion Bank.
Banka Kaupthing Bank je prenesla sredstva iz svojega lastniškega kapitala na banko Arion Bank v zameno za lastniški kapital in s tem znatno znižala imetništvo odkupljivih sredstev banke in ogrozila sposobnost izpolnjevati nadzorne zahteve glede likvidnostnih rezerv.
The Government would retain the remaining 13 % of Tier I capital.
Zaradi tega in ker je banka Kaupthing izkoristila zgoraj navedeno možnost, je vlada soglašala, da zagotovi dodatno likvidnostno posojilo za banko Arion Bank.
For this purpose Kaupthing used a combination of cash, Icelandic related corporate loans and a portfolio of mortgages and loans to Icelandic Government related entities.
Posel zamenjave SPRON
The Government capitalisation from 9 October 2009 was subsequently reversed and Arion Bank returned 32,6 billion ISK in government bonds to the Government and issued a subordinated bond in favour of the Government to the sum of 29,5 billion ISK.
21. marca 2009 je FME v skladu s svojimi pristojnostmi iz Zakona o izrednih razmerah prevzel nadzor nad hranilnico Reykjavík (SPRON) in večino njenih vlog prenesel na banko Arion Bank.
Complexities arose in respect of the 12 % Tier I and 4 % additional Tier II capital adequacy requirement as the transfer of non-risk free assets to Arion Bank implied an increase in the Bank's risk-weighted asset base.
Ustanovljena je bila družba z omejeno odgovornostjo, ki bo v lasti hranilnice SPRON, za prevzem sredstev hranilnice SPRON in tudi vseh pravic iz zavarovanja s premoženjem, vključno z vsemi hipotekami, jamstvi in drugimi pravicami, povezanimi s terjatvami hranilnice SPRON.
Since Arion Bank was re-capitalised by a transaction that involved a significant increase in risk-weighted assets, more capital was needed under the Joint Capitalisation Agreement than under the Government capitalisation, which was financed exclusively by government bonds.
Podružnica z imenom Drómi hf je prevzela obveznosti hranilnice SPRON do banke Arion Bank za vloge, ki so bile prenesene in banki Arion Bank 22. junija 2009 izdala obveznico za znesek 96,7 milijard ISK.
A greater portion of the funds returned to the Government had to take the form of a Tier II obligation than would otherwise have been the case.
Vsa sredstva hranilnice SPRON, vključno z delnicami v Drómi, so bila porabljena kot zavarovanje za obveznico.
For the same reason, Kaupthing paid 66 billion ISK for 87 % of the shares instead of the 62,6 billion ISK that was originally envisaged (i.e. 87 % of 72 billion ISK).
Vendar se stranke še niso uspele dogovoriti o obrestih na obveznico.
The Government paid 12,2 billion ISK for its 13 % share in Arion.
[43]
Tier II capital contribution
V glavnih točkah pogojev, podpisanih 17. julija 2009, je vlada soglašala, da banko Arion Bank odvezuje odgovornosti glede vrednosti obveznice hranilnice SPRON.
The state also provided the new bank with two subordinated loans in order to strengthen its equity and liquidity position.
Stranke so se tudi dogovorile, da si bodo prizadevale, da bi obveznica SPRON izpolnila pogoje kot zavarovanje za financiranje iz CBI.
Instrument A, denominated in foreign currency, corresponded at the time to an amount of 29,5 billion ISK.
Vlada je v svojem pismu banki Arion Bank z dne 3. septembra 2009 razširila pogoje posla zamenjave SPRON tako, da ne zajema samo možnega odliva vlog hranilnice SPRON in s tem poravna škodo banki za prevzem vlog, ampak tudi likvidnost, ki je potrebna za izpolnjevanje pogojev FME.
The loan was in the form of a capital instrument providing for Arion Bank to issue unsecured subordinated notes.
V pismu je vlada obljubila, da bo zagotovila do 75 milijard ISK v državnih obveznicah, če se bo banka Kaupthing odločila, da izkoristi možnost postati večinski lastnik banke Arion Bank.
Instrument B was in the amount of 6,5 billion ISK, and was used by Arion Bank for payment to the State of retained earnings (dividends) over the period until the Joint Capitalisation Agreement took effect.
Spremenjeno posojilo predvideva, da se poleg obveznic hranilnice SPRON lahko uporabijo tudi druga sredstva kot zavarovanje pod manj ugodnimi pogoji.
The Tier II instruments provided by the Government were based on a need to ensure a strong capital structure and were in accordance with the requirements of the FME.
Ta zaveza vlade je bila pozneje potrjena v sporazumu z dne 21. septembra 2010 o posojilu državnih obveznic banki Arion Bank, da jih uporabi kot zavarovanje [44].
The term of instrument A is 10 years as of 30 December 2009.
To posojilo se zaključi 31. decembra 2014, ko zapade tudi obveznica hranilnice SPRON.
It has built-in incentives for exit in the form of a step-up of interest in five years.
Znesek vsakega črpanja posojila je najmanj ena milijarda ISK.
The interest rate per annum for the first five years is 400 basis points above EURIBOR, but in the period from five to 10 years the interest rate is 500 basis points above EURIBOR.
Državne obveznice se uporabijo samo za zavarovanje posojil s premoženjem od CBI za namen pridobivanja likvidnosti za banko Arion Bank [45].
The terms of instrument B are the same, except that for the first three years, the interest rate is 300 basis points above EURIBOR.
Načrt prestrukturiranja
Deposit guarantee
Načrt prestrukturiranja obravnava vsebinska vprašanja uspešnega poslovanja, porazdelitve bremena in omejitve izkrivljanja konkurence.
In order to comply with Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes [39] and Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit guarantee schemes [40], Iceland adopted Act No 98/1999 on deposit guarantees and investor-compensation scheme and thereby set up the so-called Depositors' and Investors' Guarantee Fund (‘TIF’), which has been funded by annual contributions from the banks, calculated in relation to the total deposits of that bank.
Glede na načrt prestrukturiranja banka Arion Bank deluje samo na Islandiji in njen cilj je, da se osredotoči na tradicionalne splošne bančne storitve.
According to the Icelandic authorities, and so as to provide further assurance and comfort to the general public on the safety of their deposits when the crisis struck, the bank rescue measures of the Icelandic Government of autumn 2008 also entailed an additional state backing of deposits in domestic commercial and savings banks, outside the scope of Act No 98/1999 implementing the deposit guarantee Directive 94/19/EC and the investor-compensation Directive 97/9/EC.
Opis načrta prestrukturiranja
An announcement from the Prime Minister's Office of 6 October 2008 stated that the ‘Government of Iceland underlines that deposits in domestic commercial and savings banks and their branches in Iceland will be fully covered’.
Islandski organi in banka menijo, da bo načrt prestrukturiranja zagotovil, da bo banka Arion Bank spet postala trdna banka na trdnih temeljih, z dobrimi količniki celotnega kapitala, da bo lahko ohranila svojo vlogo zagotavljanja posojil realnemu gospodarstvu.
This announcement has since been repeated by the Office of the current Prime Minister in February and December 2009.
Na podlagi informacij v načrtu prestrukturiranja in odgovorov na vprašanja Nadzornega organa, bo to doseženo prek naslednjih korakov:
Moreover, reference was made to it in a letter of intent sent by the Icelandic Government to the International Monetary Fund (and published on the website of the Ministry of Economic Affairs and of the IMF) on 7 April 2010 (and repeated in a further letter of intent dated 13 September 2010).
Določitev dolgoročne strateške usmeritve, sorazmerno zmanjšanje dejavnosti in omejevanje izpostavljenosti tveganju
The letter (which was signed by the Icelandic Prime Minister, Minister of Finance, Minister of Economic Affairs and Governor of the CBI) states that ‘At the present time, we remain committed to protect depositors in full, but when financial stability is secured we will plan for the gradual lifting of this blanket guarantee.’
Doseganje in ohranjanje močnega kapitalskega položaja in zadovoljive donosnosti
Furthermore, in the section of the bill for the Budget Act 2011 concerning state guarantees, reference is made in a footnote to the Icelandic Government's declaration that deposits in Icelandic banks enjoy a state guarantee [41].
Ohranjanje trdnega likvidnostnega položaja in izboljšanje strukture financiranja
A recent statement of the current Minister of Economic Affairs and former Minister of Finance (2009-2011), Steingrímur Sigfússon in a debate in the Icelandic Parliament regarding the Government's cost related to Landsbankinn's taking over the savings bank SpKef, illustrates the above further.
Prestrukturiranje portfeljev posojil podjetjem in gospodinjstvom
According to the Minister, one must keep in mind regarding this matter the State's declaration in the autumn of 2008 that all deposits in savings banks and commercial banks would be safe and protected.
omejevanje deviznih neravnovesij,
‘Work has since in all instances been based on this (i.e. the declaration) and it is unfortunately correct that this (i.e. payments due to SpKef) will be one of the bigger bills footed directly by the state as costs for securing the deposits of all inhabitants of Suðurnes … and all SpKef's clients in the West Fjords and the West and North-West area … I do not expect that anyone has thought that deposit holders in those areas would be treated differently from other inhabitants, so the state did not have much of a choice in this matter’ [42].
racionalizacija mreže poslovalnic in doseganje stroškovne učinkovitosti.
According to the Icelandic Government, the additional deposit guarantee will be lifted before the capital controls are fully abolished, which according to the Icelandic authorities is currently foreseen for the end of 2013.
Pred bolj podrobnim opisom načrta prestrukturiranja je primerno na kratko navesti stališče banke o tem, kako se v načrtu za prestrukturiranje banke Arion Bank obravnavajo napake, ki so prispevale k propadu banke Kaupthing.
Special Liquidity Facility
V tej zvezi je bilo poudarjeno, da čeprav dejavnosti banke Arion Bank temeljijo na domačih dejavnostih in sredstvih banke Kaupthing, gre kljub temu za novo banko, z novimi komercialnimi cilji in lastništvom, upravnim oborom in vodstvom, ki niso isti kot v banki Kaupthing.
The government financing of Arion Bank was carried out by means of an infusion of 72 billion ISK in repo-able government bonds in return for the bank's entire equity.
Sedanje vodstvo banke Arion Bank je dejansko navedlo, da po svojem mnenju ni v položaju, da bi lahko razpravljajo o posebnih slabostih ali zlomu banke Kaupthing.
Kaupthing Bank's decision to exercise its option to acquire 87 % of shares in the Bank, however, meant that the majority of these bonds were returned to the Government.
Sicer pa se banka Arion Bank glede vzrokov za zlom banke Kaupthing najprej sklicuje na zgoraj opisano poročilo posebne skupine za preiskave.
Kaupthing Bank transferred assets from its estate to Arion Bank in return for the equity, significantly reducing the bank's holding of repo-able assets and threatening its capability to comply with supervisory requirements regarding liquidity reserves.
Poudarjeno je tudi bilo, da so bili po zlomu banke Kaupthing po oceni obvladovanja tveganja in upravljanja, ki jo je naredila FME, sprejeti ukrepi za krepitev infrastrukture.
In view of this and in the context of Kaupthing exercising the option referred to above, the Government agreed to provide an additional liquidity facility for Arion Bank.
Po navedbah banke Arion Bank sta glede ukrepanja v banki kot odziv na zgornjo oceno pomembna zlasti dva projekta.
The liquidity facility was formulated as an extension to the SPRON swap arrangement described below.
Pri prvem gre za velike in povezane izpostavljenosti.
On 21 March 2009, using it powers under the Emergency Act, the FME took control of Reykjavík Savings Bank (SPRON) and transferred most of its deposits to Arion Bank.
Prek tega projekta je banka Arion Bank razširila svojo opredelitev povezanih strank in v tej zvezi uporablja strožje postopke in v primeru spora ima zadnjo besedo oddelek za upravljanje s tveganji banke Arion Bank.
A limited liability company to be owned by SPRON was established to take over SPRON's assets and also all collateral rights, including all mortgages, guarantees and other similar rights connected to SPRON's claims.
Velike izpostavljenosti so strogo nadzorovane in sporočene, kot del postopka odobritve posojila pa se pripravi posebno poročilo, če bi odobritev posojila povzročila veliko izpostavljenost.
The subsidiary, named Drómi hf, took over SPRON's obligations to Arion Bank for the deposits transferred and issued a bond to Arion Bank on 22 June 2009 for the amount of 96,7 billion ISK.
Spremembe v islandski zakonodaji o finančnih ustanovah, izvedene po krizi, so zelo omejile možnost bank, da posojajo povezanim strankam.
All assets of SPRON were committed as collateral for the bond, including its shares in Drómi.
Posojanje lastnikom ali ključnim zaposlenim ne more več presegati 1 % tveganega kapitala in zagotovljeno mora biti kakovostno zavarovanje.
However, the parties have so far been unable to reach an agreement on the interest to be paid on the bond [43].
Pri drugem gre za natančnejši pregled navskrižnega lastništva in posredne izpostavljenosti.
In heads of terms signed on 17 July 2009 the Government agreed to hold Arion Bank harmless with respect to the value of the SPRON bond.
Banka Kaupthing je domnevno dajala posojila ob zavarovanju z lastnimi delnicami, kar je zagotovo tvegano in verjetno presega meje, ki jih določa islandski zakon o gospodarskih družbah.
The parties further agreed to work towards the SPRON bond being made eligible as collateral for funding from the CBI.
Spremembe islandske zakonodaje sedaj onemogočajo dajanje posojil ob zavarovanju z lastnimi delnicami ali sklepanje pogodb, kjer so lastne delnice osnovno tveganje.
In a letter to Arion Bank on 3 September 2009, the Government extended the terms of the SPRON swap arrangement to cover not only potential outflow of the SPRON deposits, indemnifying the bank for taking over of the deposits, but also the liquidity required in order to comply with the FME's conditions.
Predpostavke načrta prestrukturiranja
In the letter, the Government pledged to provide up to 75 billion ISK in government bonds if Kaupthing decided to exercise its option to become the majority owner of Arion bank.
Načrt prestrukturiranja je pripravljen za matično družbo kot del procesa notranje ocene kapitalske ustreznosti in upošteva tudi učinek podružnic.
The amended facility envisages that other assets than the SPRON bond can serve as collateral on less favourable terms.
Temelji na vrsti splošnih in gospodarskih predpostavk, ki predstavljajo gospodarsko podporo osnovnemu scenariju in izjemnemu scenariju, ki so navedene spodaj.
This commitment by the Government was later formalised in an agreement dated 21 September 2010 on the loan of government bonds to Arion Bank to be used as collateral [44].
Predpostavke vključujejo naslednje:
This facility terminates on 31 December 2014, which coincides with the maturity of the SPRON bond.
Gospodarske, pravne, politične in regulativne negotovosti so v okolju delovanja banke še vedno velike in vplivajo na njene dolgoročne napovedi.
The amount of each drawdown on the facility shall be a minimum of one billion ISK.
Zato v poslovanju banke ni predpostavljenih nobenih velikih sprememb.