natgillin/translations-raw huggingface dataset:
‘irregular items’
Banka pričakuje, da bo lahko leta 2012 izdala kratkoročni vrednostni papir ter razširila trenutno krito izdajanje obveznic po stopnji 10 milijard ISK letno.
Profit net of ‘irregular items’
Glede na načrt prestrukturiranja se bodo zaradi spremembe strukture financiranja v načrtovanem obdobju povečali stroški financiranja.
According to this data, the bank would still have made and will during the restructuring period make profits even in the absence of the discount [60].
Predpostavlja se, da so stroški zadolževanja okrog […] bazičnih točk nad osnovno mero za strukturo obveznic banke, indeksiranih z ICŽP, in […] bazičnih točk za neindeksirane obveznice, medtem ko so stroški vlog okrog […] bazičnih točk nad osnovno mero.
It is not clear however, if both aspects of the ‘deep discount’ mentioned above are reflected in these figures.
Stroškovna učinkovitost
Regarding liquidity, the FME requires that that cash or cash-like assets should amount to 5 % of on-demand deposits and the banks should be able to withstand a 20 % instantaneous outflow of deposits.
Banka Íslandsbanki se glede na načrt prestrukturiranja še naprej osredotoča na učinkovite in racionalizirane dejavnosti, da uspešno krije povišane infrastrukturne stroške, nastale kot posledica strožjega regulativnega nadzora in večje obdavčitve.
In addition, the Central Bank of Iceland sets rules on credit institutions' liquidity [61] according to which credit institutions' liquid assets and liabilities are classified by type and maturity and assigned weights according to risk.
Banka trdi, da je bilo v letu 2011 zaključeno precejšnje delo za povečanje stroškovne učinkovitosti, a poudarja, da je to dolgoročni projekt, pri katerem so potrebne spremembe pri procesih in tekoča analiza.
Credit institutions must have liquid assets in excess of the next three months' liabilities.
V letu 2012 se bo glede na načrt prestrukturiranja še naprej osredotočalo na ozaveščenost o stroških ter zmanjšanje stroškov in stroškovno analizo, med katero bodo pregledani in po potrebi izboljšani notranji postopki banke.
The rules also entail a certain stress test where a discount is applied to various equity items, but where it is assumed, on the one hand, that all obligations must be paid upon maturity, and on the other, that a portions of other obligations, such as deposits, must be paid at short notice or none at all.
Kot je bilo navedeno, naj bi se zaradi navedenih ukrepov ter zmanjšanja števila zaposlenih razmerje med stroški in dobičkom predvidoma znižalo s 75 % v letu 2011 na […] % v letu 2014.
As figure A and B show, Íslandsbanki has maintained liquidity reserves within the supervisory requirements in 2009, 2010 and 2011.
Izboljšave pri upravljanju podjetij in upravljanju tveganj
Figures A and B
Banka Íslandsbanki je Nadzorni organ obvestila, da je ena od njenih prednostnih nalog uskladiti strukture in procese upravljanja podjetij z najboljšimi nacionalnimi in mednarodnimi praksami.
Íslandsbanki's compliance with supervisory liquidity requirements
Banka je za ta namen ustanovila oddelek za upravljanje tveganj in kreditne kontrole.
As figure C below shows, Íslandsbanki has had improving liquidity ratios for liabilities maturing within the next 3 and 6 months in 2010 and 2011, while the 12 months indicator is more stagnant.
Ta oddelek nadzira upravljanje tveganj in kreditne kontrole, njegovo delo pa je povezano z vsakodnevnimi procesi v vsakem oddelku po celi banki.
[Graph showing Íslandsbanki's liquidity ratios
Banka Íslandsbanki je leta 2011 skupaj z letnim poročilom prvič objavila obsežno knjigo tveganj [65].
Historical liquidity ratios:
Islandski organi so v načrtu prestrukturiranja s sklicem na poročilo o procesu ocenjevanja ustreznega notranjega kapitala predložili scenarij izjemnih situacij za banko Íslandsbanki, ki naj bi prikazal, da je banka zmožna doseči dolgoročno uspešno poslovanje.
Liquidity ratio A shows the coverage of liabilities maturing within the next 3 months
Osnovni scenarij
Liquidity ratio B shows the coverage of liabilities maturing within the next 6 months
Načrt prestrukturiranja, kot je bil opisan, vključno s predpostavkami, na katerih temelji, pomeni osnovni scenarij.
Liquidity ratio C shows the coverage of liabilities maturing within the next 12 months
Scenarij izjemnih situacij
The expected development of Íslandsbanki's liquidity position, in particular in case of a stress event, is further discussed below.
Banka Íslandsbanki se je v poglavju 5.9.3 načrta prestrukturiranja sklicevala na scenarij izjemnih situacij, predstavljen v poročilu o procesu ocenjevanja ustreznega notranjega kapitala, ki je bilo 1. aprila 2012 predloženo islandskemu finančnemu organu.
Finalising the restructuring of the loan portfolio, both for private households and for businesses.
Glavne ugotovitve iz poročila o procesu ocenjevanja ustreznega notranjega kapitala iz leta 2012 so, da je kapitalizacija banke Íslandsbanki precej nad notranjimi in zunanjimi najnižjimi zahtevami ter da presega tisto, kar bi lahko razumeli kot dolgoročni cilj za delovanje banke pod „običajnimi“ poslovnimi pogoji.
Prior to the financial crises in 2008, both the bank's private and commercial customers took on a high level of debt.
Najnižje kapitalske zahteve ter rezultati testov izjemnih situacij, opravljenih v okviru sedanjega poročila o procesu ocenjevanja ustreznega notranjega kapitala, v skladu s poročilom nakazujejo, da se predvidena plačila dividend v petletnem poslovnem načrtu zdijo razumna.
When the economy and, in particular, real estate prices fell in the wake of the crisis, the suddenly over-leveraged customers could often not service their debt any longer, and held negative equity.
Odločitve o vsakoletnem plačilu dividend bi morale glede na poročilo o procesu ocenjevanja ustreznega notranjega kapitala temeljiti na posodobljeni analizi kapitalske ustreznosti, upoštevati pa bi se moral tudi likvidnostni položaj banke.
Aside from the general threat to the economic welfare of Iceland, the sudden deterioration in the bank's lending portfolio became a major risk for the banks future viability.
V skladu s tem poročilom je najnižji kapitalski količnik za banko v razponu od […] % do […] % tveganju prilagojenih sredstev.
For this reason the restructuring of the private and commercial loan portfolios (deleveraging), as reflected in the restructuring plan, has become a priority for Íslandsbanki.
Ocenjuje se, da je ob koncu leta 2012 najnižji potrebni znesek kapitala […] milijard ISK, od česar je […] milijard ISK potrebnih v okviru stebra 2a zaradi nekritih ali prenizko vrednotenih dejavnikov tveganja v okviru stebra 1.
According to the Icelandic authorities, Íslandsbanki has developed specific debt relief programmes and cooperated with the state and other banks on general debt relief measures (e.g. the 110 % mortgage adjustment) [62].
Kapital, ki se ocenjuje kot potreben za spoprijemanje z izjemnimi dogodki, v začetku leta 2012 znaša […] milijard ISK, presežni kapital ob koncu leta 2012 pa znaša […] milijard ISK, kot je navedeno v preglednici 7:
Íslandsbanki has submitted an outline of the restructuring methods it uses to the Authority, based on information compiled in November 2010.
Preglednica 7
The methods distinguish between debt restructuring for companies and for households and individuals.
Pregled poročila o procesu ocenjevanja ustreznega notranjega kapitala
Tailor made solutions are designed for larger companies, whereas SMEs are offered an adjustment of the principal, and/or adjustment of the outstanding debt/interest to either the value of the assets in the company or the free cash flow.
(v milijardah ISK)
Households and individuals are offered a variety of restructuring options, such as payment holidays, extension of terms and flexible payment schemes.
Steber 1 [66]
In order to monitor and ensure the progress in restructuring, Íslandsbanki has also developed a so-called ‘Restructuring Dashboard’, which has been submitted to the Authority.
Steber 2a [67]
According to the Icelandic authorities, and in spite of some unexpected events such as the recent ruling of the Icelandic Supreme Court on FX-loans, Íslandsbanki will complete the restructuring of its corporate loan portfolio by year-end 2012 and in 2013 in Retail Banking.
Steber 2b
The resetting of interest rates on mortgages is forecasted to be completed at year-end 2014.
Potrebna kapitalska ustreznost
Improvement of the funding strategy;
minimalne zahteve
Íslandsbanki's deposit base has remained fairly stable at around ISK 400 billion since the establishment and increased to ISK 535 billion at year end 2011 due to Íslandsbanki's merger with Byr.
pribitek
Deposits currently amount to almost 80 % of total liabilities.
Testiranje izjemnih situacij
The Bank's deposit/loan ratio has been around and above 80 % during 2010 and 2011.
vse stopnje skupaj
Íslandsbanki assumes that the current low deposit rates will encourage investors to move some of their funds into higher yielding investments as the economy recovers and risk appetite increases.
Kreditno tveganje
As a result, the bank foresees that the deposit/loan ratio may fall to around […] % by 2016.
Tržno tveganje
Moreover, foreign currency deposits are expected to […].
Operativno tveganje
Íslandsbanki aims at gradually diversifying its funding mix.
Tveganje koncentracije
As for the funding needs in ISK, […].
Najnižji kapital, ki se zahteva v okviru stebra (1 in 2a)
On the other hand, Íslandsbanki was the first Icelandic bank to issue a covered bond.
Kapitalska ustreznost od (konca leta 2012)
The first issuance was in December 2011, a CPI [64]-linked ISK 4 billion issue.
Kapitalski presežek
The issuance was well received by institutional investors and oversubscribed.
Banka Íslandsbanki je v poročilu o procesu ocenjevanja ustreznega notranjega kapitala ocenila skupne morebitne izgube zaradi kreditnega tveganja, tržnega tveganja (v trgovalni knjigi in bančni knjigi), operativnega tveganja, poslovnega tveganja (učinek večjih stroškov financiranja in manjše znižanje pri operativnih stroških in učinek […]-odstotne manjše rasti tržnih prihodkov), pa tudi pravnih in političnih tveganj (npr. učinek nedavne sodbe vrhovnega sodišča o posojilih finančnega trga Forex, nobene dodatne izterjave za poslovni portfelj (morskih sadežev) ter drugi pravni in politični dejavniki tveganja).
According to the restructuring plan, the change in the funding mix will raise the cost of funding over the planned period.
Banka Íslandsbanki je tukaj naredila en osnovni scenarij izjemnih situacij [68] in strožji scenarij izjemnih situacij, pri katerem so različni viri dotoka in odtoka kapitala izpostavljeni različnim stopnjam izjemnih situacij.
The cost of borrowings is assumed to be some […]bp above base rate for the Bank's mix of CPI-indexed bonds and […]bp for non-indexed bonds, whereas the cost of deposits is around […]bp above the base rate.
Rezultati kažejo, da je banka v dobrem položaju za spoprijemanje z nepričakovanimi motnjami likvidnosti.
Cost efficiency
Strategija za izhod/odplačilo države
According to the restructuring plan, Íslandsbanki continues to focus on efficient and streamlined operations in order to counter increased infrastructure cost which has occurred as a result of tighter regulatory controls and increased taxation.
Po mnenju islandskih organov bi moralo to povečanje delovati kot spodbuda za banko, da bo ta kapital odplačevala od tega trenutka.
The bank submits that substantial work was completed in 2011 in order to increase cost efficiency but emphasises that this is a long term project that requires changes to processes and on-going analysis.
Kar zadeva 5-odstotni delež kapitala, ki ga ima država v banki Íslandsbanki, državne deleže v finančnih podjetjih upravlja Organ za finančne naložbe Republike Islandije („Icelandic State Financial Investments“) [69].
According to the restructuring plan, the focus on cost awareness will continue in 2012 as well as the reduction of cost and cost analysis, during which the bank's internal procedures will be reviewed and improved where needed.
Vladi je bilo v skladu z državnim proračunom za leto 2012 dovoljeno prodati deleže, ki jih ima trenutno v lasti v hranilnicah, a nobena odločitev še ni bila sprejeta glede prodaje državnih deležev v treh glavnih komercialnih bankah.
As indicated above, those measures, as well as a reduction in staff, are expected to lead to the cost/income ratio falling from 75 % in 2011 to […] % in 2014.
Vseeno so odgovorni ministri vzpostavili delovno skupino, da bo proučila možne načine za prodajo lastniških deležev v komercialnih bankah.
Improvements to the corporate governance and risk management
Vlada je navedla, da ne namerava zmanjšati svojega deleža v banki Landsbankinn pod dve tretjini osnovnega kapitala banke, medtem ko bi se lahko deleži v bankah Íslandsbanki in Arion kmalu v celoti ponudili za prodajo ali bili prodani z bankami, če se njihovi večinski lastniki odločijo za prodajo, ob upoštevanju da so določeni pogoji rešeni [70].
Íslandsbanki has informed the Authority that one of their priorities is to bring its corporate governance structures and processes in line with national and international best practices.
Posebno likvidnostno posojilo je bilo na voljo le do septembra 2012 in ni bilo nikoli uporabljeno.
In this regard, Íslandsbanki has established a Risk Management and Credit Control division.
Islandski organi nameravajo pred odpravo kapitalskih kontrol v bližnji prihodnosti umakniti izjavo vlade o splošnem jamstvu za vloge.
The division oversees risk management and credit control issues; work that is linked into everyday processes in every division throughout the Bank.
RAZLOGI ZA ZAČETEK FORMALNEGA POSTOPKA PREISKAVE IN UKREPI, ZAČASNO ODOBRENI V ODLOČBAH O BANKI BYR
In 2011 Íslandsbanki published for the first time a comprehensive Risk Book [65] together with the Annual Report.
Nadzorni organ je v odločbi o začetku formalnega postopka preiskave (v nadaljnjem besedilu: odločba o začetku postopka) predhodno ugotovil, da ukrepi Islandije za kapitalizacijo banke Íslandsbanki ter likvidnostno posojilo pomenijo državno pomoč v skladu s členom 61 Sporazuma EGP.
The Risk Book, which will be published annually, provides additional information about the Bank's risk management framework, capital structure and adequacy, material risk exposures and risk assessment processes.
Poleg tega ni mogoče izključiti prisotnosti državne pomoči pri jamstvu za vloge in sporazumu o banki Straumur.
Ability to reach viability under a base and stress scenario
V odločbo o začetku postopka niso bili zajeti ukrepi pomoči, povezani s prevzemom banke Byr, ki jih je Nadzorni organ začasno odobril v odločbah o banki Byr.
In the restructuring plan, with reference made to the ICAAP report, the Icelandic authorities have submitted a stress scenario for Íslandsbanki with the aim of demonstrating Íslandsbanki's ability to achieve long-term viability.
Nadzorni organ bo v tej odločbi sprejel končno stališče o navedenih ukrepih, ki še naprej vplivajo na obravnavano oceno.
The base scenario
Pripombe zainteresiranih strani
The restructuring plan as described above including the assumptions on which it is based constitute the base case.
Nadzorni organ je v imenu upnikov nekdanje banke prejel izjavo, v kateri so poudarili, da jih je treba obravnavati kot zainteresirane strani, in navedli, da lahko pozneje predložijo nadaljnje pripombe.
The stress scenario
Pripombe islandskih organov
In chapter 5.9.3 of the restructuring plan, Íslandsbanki has made reference to a stress scenario presented in the ICAAP report, submitted to the Icelandic Financial Authority on 1 April 2012.
Islandski organi priznavajo, da ukrepi, sprejeti za ustanovitev banke New Glitnir, zdaj preimenovane v Íslandsbanki, pomenijo državno pomoč.
The main findings of the 2012 ICAAP report are that the capitalisation of Íslandsbanki is well above both internal and external minimum requirements and in excess of what can be viewed as a long-term target for a Bank operating under ‘normal’ business conditions.
Vendar so ukrepi po mnenju islandskih organov združljivi z delovanjem Sporazuma EGP na podlagi člena 61(3)(b) Sporazuma, ker so potrebni, sorazmerni in primerni za odpravljanje resne motnje v islandskem gospodarstvu.
According to the report, the internal minimum capital requirements and the results from the stress tests conducted in the current ICAAP indicate that the foreseen dividend payments in the 5-year business plan appear reasonable.
Po mnenju islandskih organov so sprejeti ukrepi v vseh vidikih skladni z načeli iz smernic Nadzornega organa o državni pomoči, po njihovih trditvah je pomoč potrebna in omejena na najnižji potrebni znesek.
According to the ICAAP report, decisions on each year's dividend payment should be based on up to date capital adequacy analysis and also take into account the Bank's liquidity position.
Poleg tega islandski organi poudarjajo, da so nekdanji delničarji banke Glitnir izgubili vse svoje delnice, od države pa niso prejeli nobene odškodnine, da je pomoč dobro zasnovana za čim manjši negativni učinek prelitja na konkurente in da so pogoji posojil (kapital 2. reda) primerljivi s tržnimi obrestnimi merami.
According to the ICAAP report the minimum capital ratio for the Bank is in the range of […] % — […] % of RWA.
Jamstvo za vloge po mnenju islandskih organov ne pomeni državne pomoči.
At year-end 2012, the minimum amount of capital needed is estimated to be ISK […] billion, whereof ISK […] billion is required under Pillar 2a, due to risk factors that are not covered or are underestimated under Pillar 1.
Zaveze islandskih organov
Results from stress tests indicate that part of the excess capital is needed to meet possible adverse events to the Bank's operations but a gradual payment of excess capital in the form of dividends is reasonable.
OCENA
The capital estimated necessary to meet stress events amounts to ISK […]billion at the beginning of 2012 and excess capital at the end of 2012 is […]billion, as illustrated below in Table 7:
PRISOTNOST DRŽAVNE POMOČI
Table 7
V členu 61(1) Sporazuma EGP je navedeno:
Overview ICAAP report
„Razen če ta sporazum ne določa drugače, je vsaka pomoč, ki jo dodelijo države članice ES, države Efte ali je dodeljena v kakršni koli obliki iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, nezdružljiva z delovanjem tega sporazuma, kolikor škodi trgovini med pogodbenicami“.
ISK billion
Nadzorni organ bo v nadaljevanju ocenil naslednje ukrepe [71]:
Pillar 1 [66]
ustanovni kapital za delovanje, ki ga je novi banki zagotovila Islandija,
Pillar 2a [67]
država bo novo banko (začasno) v celoti kapitalizirala,
CAD required
država bo novi banki zagotovila kapital 2. reda v obliki podrejenega dolga.
Minimum requirement
Navedeni ukrepi se skupaj poimenujejo kot „ukrepi za kapitalizacijo“.
Add-on
Poleg tega bo Nadzorni organ ocenil:
Stress testing
sporazum o posebnem likvidnostnem posojilu,
All levels combined
izjavo islandske vlade, da v celoti jamči za domače vloge v vseh islandskih bankah, ter
Market risk
Nadzorni organ tudi poudarja, da je v drugi odločbi o banki Byr banko Íslandsbanki opredelil kot možno upravičenko do pomoči, dodeljene banki Byr, zlasti glede podrejenega posojila, ki je bilo na voljo, dokler ne bi bilo mogoče banke Byr združiti z banko Íslandsbanki.
Operational risk
Nadzorni organ še ponavlja, da začasno odobreni ukrepi za rešitev banke Byr, ki je bila zdaj združena z banko Íslandsbanki, pomenijo državno pomoč, katere končna združljivost je odvisna od načrta prestrukturiranja za združeni subjekt.
Concentration risk
Prisotnost državnih sredstev
Minimum capital required under Pillar (1 and 2a)
Kot je Nadzorni organ v sklepu o začetku postopka že predhodno ugotovil, je jasno, da so ukrepi za kapitalizacijo financirani z državnimi sredstvi, ki jih zagotavlja islandsko ministrstvo za finance.
CAD as of (year-end 2012)
Prisotnost državnih sredstev je očitna tudi v likvidnostnem posojilu za banko Íslandsbanki.
Capital surplus
Država je glede sporazuma z banko Straumur prevzela tveganje, da sredstva banke Straumur ne bodo zadostovala za kritje prenesenih obveznosti (vlog) banke Straumur.
In the ICAAP report, Íslandsbanki has assessed the aggregated possible losses due to credit risk, market risk (in trading book and in banking book), operational risk, business risk (impact of increased funding costs and less reduction in operational cost, and the impact of […] % less growth in market revenues), as well as legal and political risk (e.g. the impact of the recent Supreme Court ruling on FX-loans, no additional recovery for the corporate (seafood) portfolio and other legal and political risk factors.
V bistvu je zagotavljala nadomestitev primanjkljaja, ki ima za posledico (morebitni) prenos državnih sredstev.
In addition, Íslandsbanki has performed stress testing of the liquidity ratio of the bank.
Nadzorni organ glede jamstva za vloge na začetku poudarja, da je njegova ocena omejena na dodatno jamstvo za vloge, opisano zgoraj, in je v bistvu sestavljena iz izjav islandske vlade, da bodo vloge v domačih komercialnih bankah in hranilnicah ter njihovih podružnicah na Islandiji v celoti krite.
Here, Íslandsbanki has made one base stress scenario [68] and a more severe stressed scenario, where the different sources of cash inflows and cash outflows are stressed to varying degrees.
Ta ocena ne posega v stališče Nadzornega organa glede združljivosti Zakona št. 98/1999 ter ukrepe islandske vlade in Jamstvenega sklada depozitarjev in vlagateljev med finančno krizo s pravom EGP, zlasti Direktivo št. 94/19/ES.
The result indicates that the Bank is well positioned to meet unexpected liquidity disruptions.
Nadzorni organ glede izvajanja Direktiv št. 97/9/ES in št. 94/19/ES meni, da uporaba državnih sredstev za izpolnjevanje obveznosti na podlagi prava EGP na splošno ne bi vzbujala pomislekov po členu 61 Sporazuma EGP, v kolikor taki ukrepi pomenijo državno pomoč.
Exit strategy/repayment of the State
Ta odločba zato ne zadeva teh ukrepov.
As already described above, the Tier II capital contribution has 10 year duration from December 2009.
Nadzorni organ je v odločbi o začetku postopka navedel, da bo nadalje preiskal, ali so prej opisane izjave Islandije dovolj natančne, trdne, nepogojne in pravno zavezujoče, tako da pomenijo zavezo glede državnih sredstev [72].
As for the remuneration, there is a built in step-up clause after 5 years (i.e. 2014), from 400bp to 500bp over EURIBOR.
Nadzorni organ pri ocenjevanju tega, ali so ta merila izpolnjena, ugotavlja, da so izjave vsebovale nepreklicno zavezo glede državnih sredstev, kar je razvidno iz dejstva, da je Islandija storila vse za zaščito depozitarjev.
According to the Icelandic authorities, this step-up should act as an incentive for the bank to pay back this capital as from this time.
Ne le da je spremenila prednostno mesto imetnikov vlog pri insolventnih stečajnih premoženjih (v zvezi s katerimi pa ni obstajala potreba po uporabi državnih sredstev), temveč je tudi jasno poudarila, da ne bo dopustila, da bi imeli depozitarji kakršne koli izgube.
As for the 5 % equity stake that the State retains in Íslandsbanki, the government's holdings in financial undertakings are managed by the Icelandic State Financial Investments (the ISFI) [69].
Splošno državno jamstvo za vse vloge v domačih komercialnih bankah in hranilnicah se nadalje razlikuje od vsake sheme zajamčenih vlog na podlagi pravnih aktov EGP zato, ker je jamstvo glede višine zneska neomejeno, banke, ki so upravičene do ukrepa, pa ne zagotovijo finančnega prispevka.
According to the State Budget for 2012, the government has been authorised to sell the stakes that it currently holds in savings banks, but no decision has yet been made regarding sale of state's holdings in the three major commercial banks.
Poseganje države v finančni sektor, ki je trajalo od oktobra 2008, utemeljeno pa je bilo s ciljem spoštovanja izjave islandske vlade, ponazarja, kako vlada razume to izjavo.