natgillin/translations-raw huggingface dataset:
The Authority’s assessment of the extent of necessary restructuring, following the initial authorisation of the asset-relief measures, will be determined on the basis of the following criteria: criteria outlined in the Authority’s State Aid Guidelines on recapitalisation of banks, proportion of the bank’s assets subject to relief; the transfer price of such assets compared to the market price; the specific features of the impaired asset relief granted; the total size of state exposure relative to a bank’s risk-weighted assets; the nature and origin of the problems of the beneficiary bank; and the soundness of the bank’s business model and investment strategy.
Ocena Nadzornega organa o obsegu potrebnega prestrukturiranja po prvotni odobritvi ukrepov finančne pomoči za oslabljena sredstva temelji na naslednjih merilih: merilih za dokapitalizacijo bank, določenih v Smernicah Nadzornega organa o državni pomoči, deležu sredstev banke, za katera se nameni pomoč; ceni teh sredstev ob prenosu v primerjavi s tržno ceno, posebnih značilnostih odobrene pomoči za oslabljena sredstva, skupnem obsegu izpostavljenosti države tveganju prilagojene aktive banke, značaju in izvoru problemov banke upravičenke ter trdnosti poslovnega modela in naložbene strategije banke.
It will also take into account any additional granting of state guarantee or state recapitalisation, in order to draw a complete picture of the situation of the beneficiary bank [26].
Upošteva tudi vsa morebitna dodatna državna jamstva ali dokapitalizacijo s strani države, da se omogoči celotna slika razmer banke upravičenke [26].
Long term viability requires that the bank is able to survive without any state support, which implies clear plans for redeeming any state capital received and renouncing state guarantees.
Da se doseže dolgoročna uspešnost poslovanja, mora biti banka sposobna preživeti brez državne pomoči, kar pomeni, da mora imeti jasne načrte za vračilo sredstev, prejetih od države, in odpoved državnim jamstvom.
Depending on the outcome of this assessment, restructuring will have to comprise an in-depth review of the bank’s strategy and activity, including, for example, focussing on core business, reorientation of business models, closure or divestment of business divisions/subsidiaries, changes in the asset-liability management and other changes.
Glede na rezultate te ocene mora prestrukturiranje vključevati poglobljen pregled strategije in dejavnosti banke, pri čemer se mora na primer osredotočiti tudi na osnovno dejavnost, preusmeritev poslovnih modelov, zaprtje ali odprodajo delov podjetja/hčerinskih podjetij, spremembe upravljanja premoženja in druge spremembe.
The need for in-depth restructuring will be presumed where an appropriate valuation of impaired assets according to the principles set out in section 5.5 and Annex 4 would lead to negative equity/technical insolvency without state intervention.
Če ustrezno vrednotenje oslabljenih sredstev v skladu z načeli iz oddelka 5.5 in Priloge 4 brez posega države vodi k negativnemu lastniškemu kapitalu/tehnični plačilni nesposobnosti, je potrebno poglobljeno prestrukturiranje.
Repeated requests for aid and departure from the general principles set out in earlier sections will normally point to the need for such in-depth restructuring.
Večkratni zahtevki za pomoč in neskladnost s splošnimi načeli iz zgornjih oddelkov nakazujejo na to, da je potrebno tako poglobljeno prestrukturiranje.
In-depth restructuring would also be required where the bank has already received State aid in whatever form that either contributes to coverage or avoidance of losses, or altogether exceeds 2 % of the bank’s total risk weighted assets, while taking the specific features of the situation of each beneficiary into due consideration [27].
Poglobljeno prestrukturiranje je potrebno tudi, če je banka že prejela državno pomoč v kakršni koli obliki, ki prispeva h kritju izgub ali izogibanju izgubam ali skupaj presega 2 % celotne tveganju prilagojene aktive banke, pri čemer je treba ustrezno upoštevati posebne značilnosti razmer vsake upravičenke [27].
The timing of any required measures to restore viability will take account of the specific situation of the bank concerned, as well as the overall situation in the banking sector, without unduly delaying the necessary adjustments.
Pri časovnem razporedu potrebnih ukrepov za ponovno vzpostavitev uspešnega poslovanja se upoštevajo posebne razmere zadevne banke, pa tudi splošne razmere v bančnem sektorju, brez neupravičenih zamud pri potrebnih prilagoditvah.
Thirdly, the extent of necessary compensatory measures should be examined, on the basis of distortions of competition resulting from the aid.
Tretjič, na podlagi izkrivljanja konkurence zaradi pomoči je treba proučiti, kakšen naj bo obseg potrebnih izravnalnih ukrepov.
This may involve downsizing or divestment of profitable business units or subsidiaries, or behavioural commitments to limit commercial expansion.
To lahko vključuje zmanjšanje obsega dobičkonosnih delov podjetja ali hčerinskih podjetij ali njihovo odprodajo ali obveznosti glede ravnanja za omejitev širitve poslovanja.
The need for compensatory measures will be presumed if the beneficiary bank does not fulfil the conditions set in the previous paragraphs and notably those of disclosure, valuation, pricing and burden sharing.
Če banka upravičenka ne izpolnjuje pogojev iz prejšnjih odstavkov, zlasti glede razkrivanja, vrednotenja, določanja cen in porazdelitve bremena, so potrebni izravnalni ukrepi.
The Authority will assess the scope of the compensatory measures required, depending on its assessment of competition distortions resulting from the aid, and notably on the basis of the following factors: total amount of aid, including from guarantee and recapitalisation measures; volume of impaired assets benefitting from the measure; proportion of losses resulting from the asset; general soundness of the bank; risk profile of the relieved assets; quality of risk management of the bank; level of solvency ratios in the absence of aid; market position of the beneficiary bank and distortions of competition from the bank’s continued market activities; and impact of the aid on the structure of the banking sector.
Nadzorni organ oceni obseg potrebnih izravnalnih ukrepov na podlagi svoje ocene izkrivljanja konkurence, ki nastane zaradi pomoči, in zlasti na podlagi naslednjih dejavnikov: skupnega obsega pomoči, vključno z ukrepi v zvezi z jamstvi in dokapitalizacijo; količine oslabljenih sredstev, vključenih v ukrep; deleža izgub, ki nastanejo zaradi sredstev; splošne stabilnosti banke; profila tveganja sredstev, ki so vključena v program pomoči; kakovosti upravljanja banke s tveganji; ravni solventnosti, če pomoč ni dodeljena; položaja banke upravičenke na trgu in izkrivljanja konkurence, ki nastane, če banka ne prekine s tržnimi dejavnostmi ter učinka pomoči na strukturo bančnega sektorja.
This Chapter of the State Aid Guidelines applies from the date of its adoption, having regard to the financial and economic context that required immediate action.
To poglavje Smernic o državni pomoči se uporablja od dne njegovega sprejetja ob upoštevanju finančnih in gospodarskih razmer, ki so zahtevale takojšnje ukrepanje.
This Chapter corresponds to the Communication from The European Commission entitled Communication from the Commission on the treatment of impaired asset in the Community banking sector.
To poglavje ustreza Sporočilu Evropske komisije z naslovom Sporočilo Komisije o obravnavanju oslabljenih sredstev v bančnem sektorju Skupnosti.
From mid-2007 to the first quarter of 2009, there has been a total of USD 1063 billion in asset write-downs, of which USD 737,6 billion has been reported by US-based banks and USD 293,7 billion has been reported by European-based banks.
Od sredine leta 2007 do prvega četrtletja leta 2009 je bilo skupaj odpisane za 1063 milijard USD vrednosti sredstev, in sicer 737,6 milijarde USD v bankah s sedežem v ZDA ter 293,7 milijarde USD v bankah s sedežem v Evropi.
Of the latter, USD 68 billion has been reported in Switzerland.
Med slednjimi je bilo za 68 milijard USD vrednosti sredstev odpisane v bankah s sedežem v Švici.
Despite the scale of asset write-downs already reported, the IMF currently estimates that the total of bank losses related to asset impairment is likely to reach USD 2200 billion.
Kljub obsegu odpisov vrednosti sredstev, ugotovljenemu na podlagi podatkov, ki so jih banke že sporočile, MDS trenutno ocenjuje, da bodo skupne izgube bank, povezane s slabitvijo sredstev, najverjetneje dosegle 2200 milijard USD.
This estimate is based on global holdings of U.S.-originated and securitised mortgage, consumer, and corporate debt and has been steadily rising since the beginning of the crisis.
Ta ocena temelji na svetovnem obsegu olistinjenega hipotekarnega dolga, dolga potrošnikov in podjetij, ki izvira iz ZDA, in se že od začetka krize nenehno povečuje.
Some market commentators suggest that total losses may be substantially higher.
Nekateri analitiki trgov menijo, da bodo skupne izgube morda še občutno višje.
For example, Nouriel Roubini who has consistently argued that official estimates are too low now suggests that total losses could be USD 3600 billion for the United States alone.
Na primer Nouriel Roubini, ki že ves čas zagovarja stališče, da so uradne ocene prenizke, zdaj ocenjuje, da bi skupne izgube samo v ZDA lahko dosegle 3600 milijard USD.
These arrangements are discussed in more detail in Annex 2.
O navedenih načinih podrobneje razpravljamo v Prilogi 2.
Asset purchases by government need not imply heavy budgetary costs in the longer term if a sufficient portion of the acquired assets can be subsequently sold at a profit (see US and Swedish examples in Annex 2).
Ni nujno, da državni odkupi sredstev dolgoročneje pomenijo visoke proračunske stroške, če je mogoče zadosten delež pridobljenih sredstev pozneje prodati z dobičkom (glej primer ZDA in Švedske v Prilogi 2).
However, they imply an upfront budgetary outlay which would increase gross public debt and the government’s gross financing requirements.
Vendar pa gre za proračunski izdatek, ki ga je treba financirati vnaprej, zaradi česar bi se povečali bruto javni dolg in potrebe države po bruto financiranju.
An approach based on swapping government debt for impaired assets could be used to ease the operational problems relating to issuance, but would not avoid the impact on the budgetary ratios nor an increase in the supply of government debt in the market.
Pristop, ki temelji na zamenjavi javnega dolga za oslabljena sredstva, bi bilo mogoče uporabiti za zmanjšanje operativnih težav v zvezi z izdajanjem, vendar se s tem ne bi izognili učinku na proračunska razmerja in povečanju količine javnega dolga na trgu.
Banks typically hold a variety of assets, including: cash, financial assets (treasury bills, debt securities, equity securities, traded loans, and commodities), derivatives (swaps, options), loans, financial investments, intangible assets, property, plant and equipment.
Banke imajo ponavadi različna sredstva, ki vključujejo gotovino, finančna sredstva (zakladne menice, dolžniški vrednostni papirji, lastniški vrednostni papirji, posojila, s katerimi se trguje, in borzno blago), izvedene finančne instrumente (posli zamenjave, opcije), posojila, finančne naložbe, neopredmetena sredstva, zemljišča, stavbe in opremo.
Losses may be incurred when assets are sold below their book value, when their value is decreased and reserves are created on possible loss or ex-post when the revenue streams at maturity are lower than the book value.
Izgube lahko nastanejo, kadar se sredstva prodajajo pod njihovo knjigovodsko vrednostjo, kadar se njihova vrednost zmanjša in se oblikujejo rezervacije za potencialne izgube, ali naknadno, kadar so tokovi prihodkov ob zapadlosti nižji od knjigovodske vrednosti.
A guarantee is presumed to constitute State aid when the beneficiary bank cannot find any independent private operator on the market willing to provide a similar guarantee.
Šteje se, da jamstvo pomeni državno pomoč, kadar banka upravičenka na trgu ne more najti neodvisnega zasebnega ponudnika, ki bi bil pripravljen zagotoviti podobno jamstvo.
The amount of State aid is set at the maximum net liability for the State.
Znesek državne pomoči se določi kot najvišji znesek neto odgovornosti države.
Part VIII of the Authority’s State Aid Guidelines: ‘The application of state aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis’, not yet published in OJ L 17, 20.1.2011, p. 1 and the EEA Supplement No. 3, 20.1.2011, p. 1.
Del VIII Smernic o državni pomoči Nadzornega organa: Uporaba pravil o državni pomoči za ukrepe v zvezi s finančnimi institucijami v okviru trenutne svetovne finančne krize, objavljen v UL L 17, 20.1.2011, str. 1, in Dopolnilu EGP št. 3, 20.1.2011, str. 1.
The updated version of the Authority’s State Aid Guidelines is published on the Authority’s website:http://www.eftasurv.int/state-aid/legal-framework/state-aid-guidelines/
Posodobljena različica Smernic o državni pomoči je objavljena na spletni strani Nadzornega organa:http://www.eftasurv.int/state-aid/legal-framework/state-aid-guidelines/.
Part VIII of the Authority’s State Aid Guidelines: ‘The recapitalisation of financial institutions in the current financial crisis: limitation of aid to the minimum necessary and safeguards against undue distortions of competition’ not yet published in OJ L 17, 20.1.2011, p. 1 and the EEA Supplement No. 3, 20.1.2011, p. 1.
Del VIII Smernic o državni pomoči Nadzornega organa: Dokapitalizacija finančnih institucij v trenutni finančni krizi: omejitev pomoči na najmanjšo potrebno in zaščitni ukrepi za preprečevanje neupravičenega izkrivljanja konkurence, objavljen v UL L 17, 20.1.2011, str. 1, in Dopolnilu EGP št. 3, 20.1.2011.
Without prejudice to the necessity of making public the impact on the balance sheet of an asset relief measure implying appropriate burden-sharing, the terms ‘transparency’ and ‘full disclosure’ should be understood as meaning transparency vis-à-vis the national authorities, the independent experts involved and the Authority.
Ne glede na zahtevo, da je treba dati na razpolago podatke o učinku ukrepa finančne pomoči za oslabljena sredstva na bilanco stanja ob ustrezni porazdelitvi bremena, je treba izraza „preglednost“ in „popolno razkritje“ razumeti kot preglednost v razmerju do nacionalnih organov, vključenih neodvisnih strokovnjakov in Nadzornega organa.
The aid amount corresponds to the difference between the transfer value of the assets (normally based on their real economic value) and the market price.
Znesek pomoči ustreza razliki med vrednostjo sredstev ob prenosu (ki običajno temelji na njihovi dejanski ekonomski vrednosti) in tržno ceno.
In this Chapter, the incurred losses correspond to the difference between the transfer value and the book value of the assets.
V tem poglavju nastale izgube pomenijo razliko med vrednostjo sredstev ob prenosu in njihovo knjigovodsko vrednostjo.
Actual losses will normally only be known ex post.
Dejanske izgube so običajno znane šele naknadno.
Asset-relief measures are somewhat comparable to capital injections insofar as they provide a loss absorption mechanism and have a regulatory capital effect.
Ukrepi finančne pomoči za oslabljena sredstva so do neke mere primerljivi s kapitalskimi injekcijami, in sicer v toliko, kolikor pomenijo mehanizem za nadomestitev izgub in vplivajo na regulatorni kapital.
However, with the former the state generally incurs a larger risk, related to a specific portfolio of impaired assets, with no direct contribution of other bank’s income generating activities and funds, and beyond its possible stake in the bank.
Vendar finančna pomoč za oslabljena sredstva za državo pomeni večje tveganje, povezano s specifičnim portfeljem oslabljenih sredstev brez neposrednega prispevka drugih dejavnosti in skladov banke, ki ustvarjajo dohodek, in ne glede na njen morebitni kapitalski delež v banki.
In view of the larger down-side and more limited up-side remuneration for asset relief should normally be higher than for capital injections.
Ker ima finančna pomoč za oslabljena sredstva več pomanjkljivosti in bolj omejene prednosti, bi bilo zanjo praviloma treba plačati več kot za kapitalske injekcije.
Comparing the book value of the assets with their transfer value (i.e. their real economic value)
S primerjavo knjigovodske vrednosti sredstev in njihove vrednosti ob prenosu (tj. njihove dejanske ekonomske vrednosti).
Shareholder protection should, however, normally be excluded.
V nasprotju s tem naj bi bila zaščita delničarjev praviloma izključena.
See Commission Decisions NN 39/08 (Denmark, Aid for liquidation of Roskilde Bank) and NN 41/08 (UK, Rescue aid to Bradford & Bingley).
Glej odločbi NN 39/08 (Danska, Aid for liquidation of Roskilde Bank) in NN 41/08 (Združeno kraljestvo, Rescue aid to Bradford & Bingley).
That may be the case where the bank’s size or type of activity would be unmanageable in an administrative or judiciary procedure or via an orderly winding-up without having dangerous systemic implications on other financial institutions or on lending to the real economy.
Na primer kadar zaradi velikosti banke ali vrste njenih dejavnosti ne bi bilo mogoče izpeljati upravnega ali sodnega postopka oziroma nadzorovane likvidacije, ne da bi to imelo nevarne sistemske učinke na druge finančne institucije ali na zagotavljanje posojil realnemu gospodarstvu.
A justification by the monetary and/or supervisory authority would be necessary in this respect.
V takem primeru bi bila potrebna utemeljitev monetarnega in/ali nadzornega organa.
Other factors, for example higher remuneration, may influence the appropriate level.
Na primerno raven lahko vplivajo tudi drugi dejavniki, na primer višje plačilo za finančno pomoč.
Moreover, it has to be noted that ex post compensations may only occur several years after the measure has been introduced and may therefore prolong unsatisfactorily the uncertainty linked to the valuation of the impaired assets.
Poleg tega je treba upoštevati, da se naknadno nadomestilo za izgube lahko poplača šele nekaj let po uvedbi ukrepa in lahko zato nezadovoljivo podaljša negotovost glede vrednotenja oslabljenih sredstev.
Claw-back clauses based on ex ante valuation would not have this problem.
Pri klavzulah o vračilu sredstev, ki temeljijo na vnaprejšnjem vrednotenju, te težave ne bi bilo.
Case of enrolled assets that may mature afterwards.
V primeru vključenih sredstev z morebitno poznejšo zapadlostjo.
An ‘unforeseeable circumstance’ is a circumstanc e that could in no way be anticipated by the company’s management when making its decision not to join the asset-relief programme during the enrolment window and that is not a result of negligence or error on the part of the company’s management or decisions of the group to which it belongs.
„Nepredvidljive okoliščine“ so okoliščine, ki jih poslovodstvo družbe nikakor ni moglo predvideti, ko je sprejelo odločitev, da se banka ne vključi v program finančne pomoči v postavljenem roku, in niso posledica malomarnosti ali napake poslovodstva družbe ali odločitev skupine, ki ji ta pripada.
An ‘exceptional circumstance’ is to be understood as exceptional beyond the current crisis.
„Izredne okoliščine“ so okoliščine, ki so izredne ne glede na sedanjo krizo.
EFTA States wishing to invoke such circumstances shall notify all necessary information to the Authority.
Države Efte, ki se sklicujejo na take okoliščine, morajo Nadzornemu organu sporočiti vse potrebne informacije.
This would seem the approach chosen in the US for Citigroup and Bank of America.
Kot kaže, so tak pristop izbrale ZDA za Citigroup in Bank of America.
Generally, the Authority considers that a uniform and objective cut-off date, such as the end of 2008, will ensure a level playing field among banks and EEA States.
Nadzorni organ na splošno meni, da bo enoten in objektiven rok, na primer konec leta 2008, bankam in državam Efte zagotovil enake pogoje.
Where necessary, state support in relation to the risks of future assets can be tackled on the basis of the Authority’s State Aid Guidelines, in particular the Chapter on State Guarantees and the Chapter on the Temporary Framework for State aid measures to support access to finance in the current financial and economic crisis.
Po potrebi se lahko državna pomoč v zvezi s tveganji glede prihodnjih sredstev obravnava na podlagi Smernic Nadzornega organa o državni pomoči, zlasti poglavja o državnih jamstvih in poglavja o Začasnem okviru Skupnosti za ukrepe državnih pomoči v podporo dostopu do financiranja ob trenutni finančni in gospodarski krizi.
This would be the case, for example, if the State swapped assets for government bonds in the amount of their nominal value but received contingent warrants on bank capital, the value of which depends on the eventual sales price of the impaired assets.
Do tega bi na primer prišlo, če bi država zamenjala sredstva za državne obveznice v vrednosti, ki je enaka njihovi nominalni vrednosti, vendar bi prejela nakupne bone s pogojno obveznostjo na kapital banke, vrednost katerih je odvisna od končne prodajne cene oslabljenih sredstev.
In the case of an insurance measure, the transfer value is understood as insured amount.
Pri ukrepu zavarovanja vrednost ob prenosu velja za zavarovano vrednost.
The Authority will use the opinion of such valuation experts in a manner similar to other State aid proceedings, where it may have recourse to external expertise.
Nadzorni organ bo mnenja teh strokovnjakov za vrednotenje uporabil na podoben način kot pri drugih postopkih v zvezi z državno pomočjo, pri katerih se lahko posvetuje tudi z zunanjimi strokovnjaki.
Compliance with the criteria in paragraph 40 of the Authority’s State Aid Guidelines on The recapitalisation of financial institutions in the current financial crisis would also need to be ensured as far as applicable.
Kadar je primerno, bi bilo treba zagotoviti tudi skladnost z merili iz odstavka 40 v Smernicah Nadzornega organa o državni pomoči o dokapitalizaciji finančnih institucij v trenutni finančni krizi.
For those banks already subject to the obligation of a restructuring plan, following the granting of previous State aid, such a plan would need to duly take into consideration the new aid and envisage all options from restructuring to orderly winding-up.
Če morajo banke po odobritvi predhodne državne pomoči predložiti načrt prestrukturiranja, morajo v tem načrtu ustrezno upoštevati novo pomoč in predvideti vse možnosti od prestrukturiranja do nadzorovane likvidacije.
Participation in an authorised credit guarantee scheme, without the guarantee having had to be invoked to cover losses, shall not be taken into consideration for the purposes of the present paragraph.
Sodelovanje v odobreni shemi kreditnih jamstev, pri čemer se za kritje izgub ni treba sklicevati na jamstvo, se ne upošteva za namene tega odstavka.
The Guidelines were last amended on 22 April 2009.
Smernice so bile nazadnje spremenjene 22. aprila 2009.
While official data for the euro area suggest that bank lending to businesses is still resilient, the underlying trend is weakening, with month-on-month growth rates in lending slowing markedly toward the end of 2008.
Čeprav uradni podatki za eursko območje kažejo, da je kreditiranje podjetij še vedno visoko, osnovni trendi upadajo, saj so se stopnje rasti posojil na medmesečni ravni ob koncu leta 2008 občutno upočasnile.
In December 2008, bank loans to the private economy (loans to non-MFI excl. governments) fell by 0,4 % relative to November.
Decembra 2008 so se posojila bank zasebnemu gospodarstvu (posojila nedenarnim finančnim institucijam brez države) v primerjavi z novembrom znižala za 0,4 %.
No 205/09/COL
št. 205/09/COL
on the scheme for temporary recapitalisation of fundamentally sound banks in order to foster financial stability and lending to the real economy (Norway)
o shemi začasne dokapitalizacije načeloma zdravih bank za spodbujanje finančne stabilnosti in posojil realnemu gospodarstvu (Norveška)