natgillin/translations-raw huggingface dataset:
The overall presence of the new banks on the EEA financial markets is on the other hand much smaller than that of their predecessors, as international banking operations have been closed down.
Tri komercialne banke imajo torej v družbi RB skupaj v lasti 85,02 % delnic.
In addition, the domestic market has shrunk considerably as certain sub-markets have disappeared or are largely subdued.
Stranke družbe RB so lastniki, Centralna banka Islandije in druge finančne institucije ter vlada in javni subjekti.
The near disappearance of the stock market and the introduction of capital controls have reduced operations in the stock and currency markets and resulted in limited investment options.
Ker je družba RB razvila klirinške in poravnalne sisteme na Islandiji, banke na tem področju z njo obsežno sodelujejo.
With the level of investments in the economy at a historically low level and households and companies generally highly leveraged, demand for credit is low.
Zagotavlja tudi številne temeljne bančne rešitve, ki so rešitve za več strank, tako da jih uporablja večina islandskih bank.
Since the collapse, the banks have concentrated their efforts on internal issues and restructuring of their loan portfolios as well as the restructuring of some of their major corporate clients.
Družba RB tudi upravlja sistem elektronskega izstavljanja računov ter elektronskih plačil za podjetja in potrošnike.
Before the financial crisis, the savings banks accounted collectively for a market share of approximately 20-25 % in deposits.
Zaradi zloma leta 2008 so bile po navedbah Islandskega organa za konkurenco manjše banke in hranilnice še posebej ranljive.
This has now collapsed to approximately 2-4 %.
Ker se lahko zahtevane storitve IT obravnavajo kot ena od ovir za vstop novih udeležencev na trg, so bile za manjša finančna podjetja ključnega pomena.
The market shares lost by the savings banks and commercial banks exiting the market have been gained by the three major commercial banks, Arion Bank, Íslandsbanki and Landsbanki.
Družba RB je v pomembni meri zagotavljala platformo za storitve IT večjim finančnim podjetjem, družba Teris pa hranilnicam in manjšim udeležencem na trgu.
Combined the three big banks now account for approximately 90-95 % of the market instead of 60-75 % earlier on, where Landsbankinn's market share is marginally highest.
Islandski organ za konkurenco je preiskoval dve zadevi v zvezi z družbo RB.
Apart from the 10 regional savings banks, currently accounting for approximately 2-4 % of the market, the only other market player is the restructured MP Bank [30], with a market share of approximately 1-5 %.
Prvič, ali je treba skupno lastništvo ter sodelovanje bank in drugih finančnih podjetij v forumu družbe RB obravnavati kot kršitev prepovedi za omejevalna ravnanja po členu 10 islandskega zakona o konkurenci.
The Icelandic financial market is thus clearly oligopolistic and the three largest companies could collectively achieve a dominant market position.
Drugič, združljivost nakupa večjih sredstev družbe Teris s strani družbe RB se ocenjuje po določbah o združitvi istega zakona.
According to the Icelandic Competition Authority (ICA), which the Authority had asked for its views on the state of competition in Iceland and potential remedies, there are significant entry barriers to the Icelandic banking market.
Vendar sta bili maja 2012 obe zadevi zaključeni s poravnavo med družbo RB in njenimi lastniki na eni strani ter Islandskim organom za konkurenco na drugi [31].
This has detrimental effects on competition.
Islandski organ za konkurenco je poleg navedenih pomislekov, ki se neposredno nanašajo na islandski finančni trg, zlasti poudaril, da je treba brez nepotrebnega odlašanja zaključiti prodajo in prestrukturiranje operativnih družb [32].
There are also certain impediments for consumers to switch banks.
Po mnenju Islandskega organa za konkurenco je dejstvo, da imajo banke družbe v neposredni ali posredni lasti [33], najbolj razširjena in najnevarnejša težava na področju konkurence po finančni krizi, saj vpliva na skoraj vsako družbo in industrijo na Islandiji.
The Icelandic authorities furthermore acknowledged that the exchange rate risks associated with Iceland's small and non-traded currency, the Icelandic króna, has further restricted competition and deterred foreign banks and companies from entering the Icelandic market.
Po njegovem mnenju bi hitrejše prestrukturiranje družb izboljšalo konkurenco na finančnem trgu.
ICA has lately focused on a specific issue regarding IT infrastructure for the banks' operations and their cooperation in that regard.
Ko je bilo treba udeleženost banke pri prestrukturiranju njenih poslovnih strank priglasiti v skladu z nacionalno kontrolo združevanja, je Islandski organ za konkurenco v zvezi s tem pogosto določil pogoje o lastninski pravici bank.
This matter is of relevance for the assessment of the case at hand and was among the issues discussed by the Authority with the Icelandic authorities and the banks.
Tri komercialne banke, Arion, Íslandsbanki in Landsbankinn, so v trditvah, predloženih Nadzornemu organu, pojasnile, da se od jeseni leta 2008 na islandskem finančnem trgu glede konkurenčnih pogojev niso zgodile nobene večje spremembe, zaradi katerih bi se vzbujali pomisleki.
RB is jointly owned by the three main Icelandic banks, two saving banks, the Icelandic Savings Bank Association and the three main payment card processors in Iceland.
Na trgu je prevladovala učinkovita konkurenca brez dokazov o tajnem dogovarjanju treh največjih udeležencev.
Landsbankinn owns 36,84 % of the shares in RB, Íslandsbanki holds 29,48 % and Arion Bank 18,7 %.
Islandski organ za konkurenco je pri proučevanju konkurenčnih pogojev na trgu prezrl nekatere ključne dejavnike, kot je dejstvo, da so tuje banke pri zagotavljanju finančnih storitev največjim strankam, kot so podjetja, katerih dejavnosti temeljijo na izvozu (ribištvo, energetsko intenzivne industrije itd.) ter ki opravljajo državne in občinske dejavnosti, že dolgo in še vedno dejavno v konkurenci z islandskimi bankami.
Combined the three commercial banks therefore own 85,02 % of shares in RB.
Vendar je to stališče v nasprotju s stališčem iz predložitve islandskih organov, kot je določeno v navedenem poročilu, ki ga je minister za gospodarske zadeve pripravil za islandski parlament, in s stališči Islandskega organa za konkurenco.
RB's clients are the owners, the Central Bank of Iceland and other financial institutions as well as the government and public entities.
Poleg tega se je banka Íslandsbanki, kot bo opisano v nadaljevanju, kljub določenim zadržkom glede analize konkurenčnih pogojev odločila za zagotovitev določenih zavez, s katerimi naj bi se omejilo izkrivljanje konkurence v zvezi z zadevnimi ukrepi pomoči.
It also provides a number of core banking solutions which are multi-tenant solutions, used by most of the Icelandic banks.
OPIS UKREPOV
RB furthermore operates an e-invoicing and e-payment system for corporates and consumers.
Upravičenec
According to ICA, the collapse in 2008 has made the smaller banks and savings banks particularly vulnerable.
Banka Glitnir ter dve drugi večji islandski komercialni banki so, kot je opisano zgoraj, propadle leta 2008.
For the smaller financial undertakings, the required IT services were of crucial importance, as they can be viewed as one of the entry barriers for new market participants.
Da bi zagotovili neprekinjeno delovanje domačega bančnega sektorja, so islandski organi sprejeli določene ukrepe za ponovno vzpostavitev nekaterih dejavnosti (nekdanje) banke Glitnir Bank hf, vključno z ustanovitvijo in kapitalizacijo banke New Glitnir Bank hf (zdaj preimenovane v Íslandsbanki).
The platform for IT services has been provided to a significant extent by RB as regards the bigger financial undertakings and, as regards the savings banks and smaller market players, by Teris.
Pred finančno krizo leta 2008 je bila banka Glitnir tretja največja banka na Islandiji.
Following the closure of many smaller financial undertakings in recent years, Teris lost a significant share of its income, leading in January 2012 to the sale of some of its IT solutions to RB.
Njena bilanca stanja je tik pred propadom junija 2008 znašala 3862 milijard ISK.
According to RB and Teris, this transaction was, inter alia, aimed at securing continued provision of IT services to smaller financial undertakings.
Najpomembnejša trga banke sta bila Islandija in Norveška, kjer je ponujala vrsto finančnih storitev, vključno s poslovanjem s podjetji, investicijskim bančništvom, kapitalskimi trgi, upravljanjem naložb in poslovanjem s prebivalstvom.
The ICA has been investigating two cases regarding RB.
Banka Glitnir je imela dejavnosti tudi na Finskem, Švedskem, Danskem, v Združenem kraljestvu, Luksemburgu, ZDA, Kanadi, na Kitajskem in v Rusiji.
Firstly, whether the joint ownership and cooperation of the banks and other financial undertakings in the RB forum should be considered to be a breach of the ban on restrictive practices under Article 10 of the Icelandic Competition Act.
Imela je številne podružnice, med katerimi so bile najpomembnejše: Glitnir AB (Švedska), Glitnir Bank Oyi (Finska), Glitnir Bank ASA (Norveška), Glitnir Bank Luxembourg SA in Gltinir Asset Management Luxembourg.
Secondly, the compatibility of RB's purchase of Teris's major assets is being assessed under the merger provisions of the same act.
Banka Íslandsbanki, naslednica banke Glitnir, je splošna banka, ki ponuja obsežen sklop finančnih storitev posameznikom, gospodinjstvom, korporacijam in poklicnim vlagateljem na Islandiji, specializirana pa je na dva industrijska sektorja, in sicer: morske sadeže in geotermalno energijo.
However, in May 2012 these two cases were concluded with a settlement between RB and its owners, on the one hand, and the ICA on the other hand [31].
Sredstva banke po združitvi z banko Byr zdaj znašajo približno 800 milijard ISK.
Aside from the above concerns that relate directly to the Icelandic financial market, the ICA has in particular pointed to the need for the sale and restructuring of operating companies [32] to be completed without undue delay.
V njej je zaposlenih okrog 1100 ljudi, pri merjenju glede na bilančno vsoto pa je tretja največja islandska banka.
Many operating companies have been taken over by the banks (being creditors of those companies) due to over indebtedness following the economic crash in 2008.
Bančne proizvode in storitve zagotavljajo štirje oddelki: poslovanje s prebivalstvom, poslovanje s podjetji, trgi in upravljanje premoženja.
According to ICA, it may create a conflict of interest when banks provide financial services to companies and own the companies at the same time.
Banka Íslandsbanki trdi, da ima v vseh teh poslovnih segmentih od [20] do [40]-odstotni tržni delež.
The ICA is of the opinion that the banks' direct and indirect ownership [33] is the most wide-spread and dangerous competition problem in the aftermath of the financial crisis, as this has an effect on almost every company and industry in Iceland.
Poslovanje s prebivalstvom – Islandija
In ICA's view, faster restructuring of companies would improve competition in the financial market.
Pri poslovanju s prebivalstvom se bančne storitve zagotavljajo posameznikom, gospodinjstvom ter malim in srednjim podjetjem (MSP).
When the banks' involvement in the restructuring of their corporate clients has been subject to the notification requirements under national merger control, the ICA has in this regard often set conditions regarding the banks' ownership.
V oddelek so zajete mreža podružnic banke Íslandsbanki, oddelek banke za financiranje na osnovi kreditnih sredstev in neodvisno delujoča podružnica Kreditkort, ki je vodilna izdajateljica kreditnih kartic na Islandiji.
However, a comprehensive solution to the problem appears to be difficult, as it relates essentially to the high leverage of the Icelandic business sector.
Po zadnjih razpoložljivih podatkih ima banka Íslandsbanki v sektorju poslovanja s prebivalstvom [> 30]-odstotni tržni delež.
In their submission to the Authority, the three commercial banks, Arion Bank, Íslandsbanki and Landsbankinn, have all expressed the view that no major changes have taken place in the conditions of competition in the Icelandic financial market since autumn 2008 which should give cause for concerns.
Poslovanje s podjetji – Islandija
When examining the conditions of competition in the market, the ICA had overlooked certain key factors, such as the fact that foreign banks have for long and still are actively competing with Icelandic banks for the provision of financial services to the biggest clients, such as undertakings in export-based activity (fisheries, power-intensive industry, etc.) as well as state and municipal activity.
Poleg tega v oddelku „Corporate Solutions“ znotraj oddelka poslovanja s podjetji upravljajo in vodijo prestrukturiranje velikih portfeljev podjetjih v težavah.
However, this view is contrary to the view expressed in the submission of the Icelandic authorities, as set out in the report referred to above by the Minister of Economic Affairs to the Althingi and to the views of ICA.
Po zadnjih razpoložljivih podatkih ima banka Íslandsbanki v sektorju poslovanja s podjetji [> 30]-odstotni tržni delež.
Moreover, as will be outlined below, Íslandsbanki has, despite certain reservations regarding analysis of competition conditions, decided to provide certain commitments aimed at limiting distortion of competition linked to the aid measures concerned.
Oddelek za trge ponuja celo vrsto storitev za poslovne finance, vrednostne papirje ter devize in proizvode na denarnem trgu na Islandiji, pa tudi svetovanje za poslovne finance v sektorjih geotermalne energije in morskih sadežev v ZDA.
Those commitments are reported in the Annex.
Po zadnjih razpoložljivih podatkih ima banka Íslandsbanki na trgu lastniških vrednostnih papirjev [35] [> 5]-odstotni tržni delež, na trgu obveznic [> 20]-odstotni tržni delež, na trgu deviz [> 30]-odstotni tržni delež in na trgu poslovnih financ okrog [35–45]-odstotni tržni delež [36].
DESCRIPTION OF THE MEASURES
Oddelek za upravljanje premoženja zagotavlja strankam vseh velikosti institucionalne prodaje, zasebno bančništvo (premoženje) in zasebne investicijske storitve (na drobno) ter sklade, ki jih upravljajo tretje osebe.
The beneficiary
Oddelek VÍB prek svoje neodvisno upravljane in poslujoče podružnice Íslandssjóðir hf ponuja še upravljanje in vodenje skladov.
As described above, Glitnir collapsed in 2008, as did the two other large Icelandic commercial banks.
Po zadnjih razpoložljivih podatkih ima banka Íslandsbanki na trgu poslovnih in institucionalnih prodaj [> 30]-odstotni tržni delež, pri storitvah investicijskih proizvodov za prebivalstvo [> 30]-odstotni tržni delež, na trgih zasebnega bančništva [> 25]-odstotni tržni delež, na trgih upravljanja vzajemnih skladov [> 35]-odstotni tržni delež in na trgu storitev zasebnega pokojninskega zavarovanja [> 15]-odstotni tržni delež [37].
So as to ensure the continuing operation of the domestic banking sector, the Icelandic authorities undertook certain measures, to restore certain operations of (old) Glitnir Bank hf, including the establishment and capitalisation of New Glitnir Bank hf (now renamed Íslandsbanki).
Primerjava nekdanjih in novih bank
Prior to the financial crisis of 2008 Glitnir Bank was the third largest bank in Iceland.
Primerjava bank Glitnir in Íslandsbanki (2008)
Just before its collapse, at the end of June 2008 its balance sheet amounted to 3862 billion ISK.
Preglednica 1
The bank's main markets were in Iceland and Norway where it offered a range of financial services, including corporate banking, investment banking, capital markets, investment management and retail banking.
Začetna bilanca stanja banke Íslandsbanki v primerjavi z bilanco stanja banke Glitnir za prvo polovico leta 2008
Glitnir also had operations in Finland, Sweden, Denmark, UK, Luxembourg, US, Canada, China and Russia.
Med novimi in nekdanjimi bankami so večje razlike v smislu dejavnosti in obsega.
It held a number of subsidiary companies, the most significant being: Glitnir AB (Sweden); Glitnir Bank Oyi (Finland); Glitnir Bank ASA (Norway); Glitnir Bank Luxembourg SA; and Gltinir Asset Management Luxembourg.
Banka Íslandsbanki je večinoma domača banka, ki nima dovoljenja za čezmorske bančne dejavnosti, medtem ko je bila banka Glitnir mednarodna banka z dejavnostmi v 11 državah.
The bank's international expansion was based on two specialised industry sectors; seafood and sustainable energy [34].
Banka Íslandsbanki ima štiri poslovne segmente: komercialno bančništvo/poslovanje s prebivalstvom, upravljanje sredstev, poslovanje s podjetji in investicijsko bančništvo ter denarna sredstva in kapitalski trgi, vsi pa so osredotočeni na domači trg.
Shares in the bank were listed on the Icelandic OMX.
Predvsem pa je obseg dejavnosti banke Íslandsbanki bistveno manjši od obsega banke Glitnir, saj se je bilanca stanja nekdanje banke v višini 3862 milijard ISK v primerjavi z bilanco stanja nove banke v višini 631 milijard ISK zmanjšala za 84 %.
Glitnir's successor, Íslandsbanki, is a universal bank offering a comprehensive set of financial services to individuals, households, corporations and professional investors in Iceland, specialising in two industry sectors; seafood and geothermal energy.
Primerjava bilance stanja nekdanje banke za junij 2008 in začetne bilance stanja nove banke je na voljo v zgornji preglednici 1.
Following the merger with Byr, the bank's assets now amount to approximately ISK 800 billion.
Banka Glitnir je imela raznovrstno strukturo financiranja in je bila velika izdajateljica obveznic, ki so se prodajale po vsem svetu.
It has about 1100 employees, and is Iceland's third largest bank when measured in terms of total assets.
Nasprotno pa se banka Íslandsbanki pri financiranju v glavnem zanaša na vloge.
The banking products and services fall into four divisions: Retail banking, Corporate Banking, Markets and Wealth Management.
To, skupaj z verjetno nezmožnostjo banke, da bi imela dostop do podobnih virov financiranja kot njena predhodnica (vsaj kratkoročno), banki omejuje zmožnost za rast.
According to Íslandsbanki, it has a market share of between [20] and [40] % in all those business segments.
Iz primerjave bistvenih kazalnikov obeh bank v diagramu 1 so razvidne precejšnje razlike [38]:
Retail banking — Iceland
Diagram 1
Retail Banking provides banking services to individuals, households and small- to medium-sized companies (SMEs).
Banka Íslandsbanki ob ustanovitvi v primerjavi z banko Glitnir leta 2008 (2. četrtina), izbrani podatki
The division comprises Íslandsbanki's branch network, the Bank's Asset-Based Financing division and an independently operated subsidiary, Kreditkort, a leading credit card issuer in Iceland.
V novi banki je tudi precej manj zaposlenih.
The latest available figures, show that Íslandsbanki has a market share of [> 30] % in the retail sector.
V banki Glitnir je bilo v prvi polovici leta 2008 za polni delovni čas povprečno zaposlenih 2174 ljudi v primerjavi s 1110 ljudmi v banki Íslandsbanki (vključno s podružnicami) v prvi polovici leta 2009, med številoma je torej 49-odstotna razlika.
Corporate banking — Iceland
Podatki za isto obdobje za domače dejavnosti le kažejo, da je bilo v novi banki zaposlenih 242 ljudi manj kot v banki Glitnir.
Corporate Banking (CB) provides lending and other credit services to medium-size and large companies in Iceland, usually called ‘the largest 300’.
Nacionalna pravna podlaga za ukrep pomoči
Furthermore, Corporate Solutions, a division within CB, manages and leads the restructuring of the distressed large corporate portfolio.
Zakon št. 125/2008 o organu za izplačila iz državne blagajne zaradi nepredvidenih razmer na finančnem trgu itd., splošno imenovan zakon o izrednih razmerah
The latest available figures, show that Íslandsbanki has a market share of [> 30] % in the corporate banking market.
Na podlagi zakona o izrednih razmerah je lahko Organ za finančni nadzor ukrepal „v izrednih razmerah“, prevzel pristojnosti skupščin delničarjev in sestankov upravnega odbora finančnih institucij ter odločal o prodaji njihovih sredstev in obveznosti.
The markets division offers full range services in corporate finance, securities, and foreign exchange and money market products in Iceland as well as corporate finance advisory in the geothermal energy and seafood sectors in the USA.
Organu za finančni nadzor je bila tudi dodeljena pristojnost, da je imenoval odbore za razpustitev pri finančnih podjetjih, ki jih je prevzel, ti odbori pa so prevzeli pristojnosti skupščin delničarjev.
The latest available figures, show that Íslandsbanki has a market share of [> 5] % of the equity market [35], [> 20] % of the bonds market, [> 30] % of the foreign exchange (FX) market and around [35-45] % of the Corporate Finance market [36].
V likvidacijskih postopkih institucij imajo po zakonu prednost terjatve imetnikov vlog in terjatve v okviru sistemov zajamčenih vlog.
Wealth Management provides clients of all sizes with institutional sales, private banking (affluent) and private investment services (retail) and third-party funds.
Po zakonu je islandski minister za finance tudi pooblaščen za ustanavljanje novih bank.
VÍB further offers fund management and administration through its independently managed and operated subsidiary Íslandssjóðir hf.
V zakon o izrednih razmerah so vključene spremembe Zakona o finančnih podjetjih št. 161/2002, Zakona o uradnem nadzoru finančnih dejavnosti št. 87/1998, Zakona o zajamčenih vlogah in odškodninski shemi za vlagatelje št. 98/1999 ter Zakona o stanovanjskih zadevah št. 44/1998.
The latest available figures, show that Íslandsbanki has a market share of [> 30] % of the Corporate and Institutional Sales, [> 30] % of Retail Investment Services, [> 25] % of Private Banking markets, [> 35] % of Mutual Fund Management markets and [> 15] % of Private pension services market [37].
Zakon o dodatnem državnem proračunu za leto 2008 (člen 4)
Comparing the old and new bank
Zakon o državnem proračunu za leto 2009 (člen 6)
A comparison of Glitnir and Íslandsbanki (2008)
Ukrepi pomoči
Table 1
Poseganje islandskih organov po propadu banke Glitnir je bilo opisano zgoraj, podrobneje pa je bilo predstavljeno v odločbi o začetku postopka.
Íslandsbanki's opening balance sheet compared with Glitnir's 2008 first half balance sheet
V bistvu pa se lahko povzame takole: Organ za finančni nadzor je 7. oktobra 2008 prevzel nadzor nad banko Glitnir, domače obveznosti in domača sredstva (večina sredstev) so bila prenesena na banko New Glitnir.
There are major differences between the new and old bank both in terms of their operations and scale.
Nekdanja banka/njeni upniki naj bi prejeli nadomestilo za ta prenos, s tem da bi dobili znesek razlike med sredstvi in obveznostmi.
Íslandsbanki is predominantly a domestic bank without any licensed banking operations overseas whereas Glitnir was an international bank with operations in 11 countries.
Ker se je določanje te razlike izkazalo za težko in zamudno, je država zagotovila nekaj ustanovnega kapitala in se zavezala, da bo po potrebi prispevala dodatni kapital.
Íslandsbanki has four business segments; Commercial/Retail Banking, Asset Management, Corporate and Investment Banking, and Treasury and Capital Markets, all of which are focused on the domestic market.
Nato je kapitalizirala banko, preden je bil oktobra končno dosežen dogovor med državo in upniki nekdanje banke, zaradi katerega se je državni delež v banki zmanjšal s 100 % na 5 %.
Most notably the scale of Íslandsbanki's operations are substantially smaller than that of Glitnir; the old bank's balance sheet of 3862 billion ISK compared to the new bank's 631 billion ISK amounts to a reduction of 84 %.
Po mnenju Nadzornega organa ta datum – 15. oktober 2009 – označuje začetek petletnega obdobja prestrukturiranja, ki bo torej trajalo do 15. oktobra 2014.
A comparison of the old bank's balance sheet at June 2008 with the new bank's opening balance sheet can be found at Table 1 above.
V naslednjem oddelku so opisani zgolj tisti vidiki poseganja države, ki pomenijo ukrepe pomoči v zvezi z oceno po členu 61 Sporazuma EGP.