natgillin/translations-raw huggingface dataset:
Third, as regards the characteristics of the relevant market and as described above, the collapse of the financial system in Iceland, followed by the interventions of the Icelandic authorities, including the establishment of Íslandsbanki on the basis of Glitnir's domestic operations, led to a greater concentration in the Icelandic market for financial services, and substantially increased the market share by the three major banks — Íslandsbanki, Arion Bank and Landsbankinn.
Člen 5
Beside these, only a few small market players remain, and the immediate prospect of a new entry is extremely slim, not only due to the already mentioned barriers to entry and the small size of the market, but in particular also due to the capital controls.
Besedilo te odločbe v angleškem jeziku je edino verodostojno.
Íslandsbanki enjoys a very significant position on this concentrated market, with a market share of over […] % in the most relevant and economically important segments.
V Bruslju, 27. junija 2012
Fourth, the crisis led to a number of very specific problems, such as the extremely high degree of direct and indirect ownership of the large banks in the real economy, and the existence of a de-facto monopoly for banking IT-services (RB), majority owned by the three major banks.
Za Nadzorni organ Efte
Fifth, the relative size of aid that Íslandsbanki has received is significant.
Predsednica
In this regard, the Authority notes that at the outset the entire capital of the bank was provided by the State.
Članica kolegija
In addition, the bank has benefited from a variety of aid measures — the Straumur agreement, the special liquidity facility and the deposit guarantee.
Ta dokument je na voljo samo v informativne namene.
At the same time, Íslandsbanki remains a small bank, at least by international standards.
V tej javni različici so bile nekatere informacije zaradi zaupnosti informacij izpuščene.
Sixth, the bank's acquisition of Byr calls for additional competition measures.
To je označeno s […] ali razponom v oglatih oklepajih, ki pomeni nezaupen približek podatka.
In the second Byr decision, the Authority required that the forthcoming restructuring plan should comprise measures which would ensure that the Icelandic financial market would benefit from effective competition in the future, so as to address the concerns that the Authority raised about the state of competition in the Icelandic financial market.
Za podrobnejši opis postopka glej odločbo o začetku postopka, navedeno v opombi 3.
Against this background, the Authority notes that a number of measures have been or will be taken that limit the distortions of competition resulting from the state aid granted to Íslandsbanki.
Odločba Nadzornega organa št. 494/10/COL o začetku formalnega postopka preiskave glede ponovne vzpostavitve nekaterih dejavnosti (nekdanje) banke Glitnir Bank hf ter ustanovitve in kapitalizacije banke Glitnir Bank hf (zdaj preimenovana v Íslandsbanki), UL C 41, 10.2.2011, str. 51 in Dopolnilo EGP k Uradnemu listu Evropske unije št. 7, 10.2.2011, str. 50.
Measures and regulatory developments undertaken or committed to by the Icelandic authorities
Nadaljnje informacije o postopku, po katerem je bila sprejeta Odločba Nadzornega organa št. 494/10/COL, so na voljo v postopkovnem delu Odločbe.
The Icelandic government has specifically made two commitments (see Annex) which in the Authority's view can contribute to creating a regulatory environment that favours competition in financial markets:
Kot so 25. maja 2012 popravile zainteresirane strani.
First, by appointing a working group that will review Act No 36/1978 on Stamp Duty, and by examining in particular whether to abolish stamp duties for bonds issued by individuals when transferred between creditors (e.g. when individuals transfer their loans from one loan institution to another).
Glej Sklep Nadzornega organa št. 325/11/COL o prevzemu banke Byr hf s strani banke Íslandsbanki in o podaljšanju začasne odobritve podrejenega dolžniškega kapitala banke Byr hf, UL C 16, 19.1.2012, str. 10 ter Dopolnilo EGP k Uradnemu listu Evropske unije št. 3, 19.1.2012, str. 1.
The Authority considers that the current law — which, inter alia, obliges customers to pay stamp duty on the amount of the respective bond [90] when switching lenders — may be capable of constituting an impediment to competition, as it may lock customers to existing contracts on long term loans.
Nadzorni organ je glede konkurenčnega položaja v islandskem bančnem sektorju in morebitne izboljšave konkurence sodeloval z Islandskim organom za konkurenco.
The Authority thus welcomes the commitment for this law to be reviewed.
Glej poglavje 2 poročila posebne preiskovalne komisije islandskemu parlamentu: povzetek glavnih sklepov poročila, stran 13, na voljo na: http://sic.althingi.is/pdf/RNAvef-Kafli2Enska.pdf.
Second, the Authority takes note that, in accordance with a resolution passed by the Icelandic parliament on 21 March 2012, a committee will be appointed by the government with the mandate to review consumer protection in the financial market.
Istega dne so se začeli stečajni postopki tudi za banko Landsbanki, dva dni pozneje, 9. oktobra 2008, pa še za banko Kaupthing.
This will include a specific mandate for the review of switching facilitation and switching costs reduction, and for the committee to work closely with the ICA as regards that issue.
Člani posebne preiskovalne komisije so bili Páll Hreinsson, sodnik vrhovnega sodišča, Tryggvi Gunnarsson, parlamentarni varuh človekovih pravic Islandije, ter dr. Sigríður Benediktsdóttir, predavateljica in pridružena profesorica na univerzi Yale v ZDA.
The Committee shall present its report no later than 15 January 2013.
Celotno poročilo je v islandščini na voljo na: http://rna.althingi.is/, v angleščino prevedeni deli (vključno s Povzetkom in poglavjem o vzrokih za propad bank) so na voljo na: http://sic.althingi.is/.
The Authority is of the opinion that a closer assessment could be of benefit for competition in the long-run.
Islandska króna.
In the meantime the bank-specific commitment by Íslandsbanki discussed below should contribute to making switching easier, and thereby will increase competition.
Posojanje tujim strankam je v šestih mesecih naraslo za 11,4 milijarde EUR, in sicer z 9,3 milijarde EUR na 20,7 milijarde EUR.
As for the competition concerns identified by the Authority regarding RB, the Authority welcomes the settlement that ICA and the owners of RB, including the three major banks, have reached on this issue.
Poglavje 21.2.1.2 (na strani 6) poročila.
This endeavours to ensure access to essential IT-infrastructure on a non-discriminatory basis and at reasonable cost for small competitors and potential new market entrants.
Položaj se je še zaostril s tem, ko so tuji upniki največjih islandskih investicijskih družb pozivali h kritju zaradi znižanih vrednosti zavarovanja, kar je povzročilo, da so tri glavne banke prevzele financiranje, da so bile lahko tuje banke poplačane.
The Authority is of the view that its concerns, as voiced, inter alia, in the second Byr decision, have been addressed in a satisfactory manner by this settlement, and that there is no need for the Authority to further address this issue in the current decision.
Poglavje 21.2.1.4 poročila.
Finally, the Authority takes note of the regulatory amendments that have been made since 2008, as discussed in the Annex.
Dejansko je bila navedena politika tedanje koalicijske vlade pospeševati več rasti in spodbujati banke, naj ohranijo sedež na Islandiji.
As regards competition concerns, the introduction of Article 22 in the Act on financial undertakings No 161/2002 is of particular relevance in this regard.
Poglavje 2 (na strani 5) poročila.
It includes provisions which limit the participation of financial undertakings in activities falling outside the scope of their operating licenses.
Za dodatne splošne podrobnosti o ukrepih, ki so jih sprejeli islandski organi, glej poročilo Ministra za finance parlamentu o oživitvi komercialnih bank maja 2011 (Skýrsla fjármálaráðherra um endurreisn viðskiptabankanna), na voljo na http://www.althingi.is/altext/-139/s/pdf/1213.pdf.
According to this new rule, such activities may only be pursued on a temporary basis and for the purpose of concluding transactions or reorganising the activities of customers.
Zakon št. 125/2008 o organu za izplačila iz državne blagajne zaradi nepredvidenih razmer na finančnem trgu itd.
A reasoned notification to this effect must be sent to the FME, and time limits have been introduced for financial undertakings to complete reorganisation of their customers and dispose of appropriated assets.
Glej tudi letno poročilo za leto 2009 Organa za finančni nadzor (julij 2008–junij 2009), na voljo na: http://en.fme.is/media/utgefid-efni/FME-Annual-Report-2009.pdf.
The Authority regards this change as an appropriate regulatory response to the issue of the disproportionately large ownership by financial institutions in the real economy.
Sledili naj bi nadaljnji prevzemi finančnih podjetij.
This provision appears to at least remedy this situation — which is a direct result of debt-to-equity-swaps (and similar transactions) involving over-indebted companies in the wake of the crisis — from becoming a permanent one.
Organ za finančni nadzor je marca 2009 prevzel nadzor nad dejavnostmi treh finančnih podjetij, tj. Straumur-Burdaras, Reykjavik Savings Bank (SPRON) in Sparisjodabanki Íslands (Icebank), odločil se je za prodajo sredstev in obveznosti navedenih podjetij.
As it addresses one of the most pressing competition issues that is linked to the state aid to the three banks, the Authority takes it duly into account in its assessment.
Za podjetji SPRON in Sparisjodabanki sta bila uvedena postopka likvidacije, medtem ko je bil z upniki podjetja Straumur pozneje odobren sporazum o poravnavi.
Measures specific to Íslandsbanki
Aprila 2010 je prevzel nadzor nad hranilnicama Keflavík in Byr ter odločil, da bosta njune dejavnosti prevzeli novi finančni podjetji, in sicer hranilnica SpKef oziroma Byr hf.
The Authority emphasises that Íslandsbanki's market presence and size is only a fraction of that of Glitnir — as total assets have been reduced by 84 %, as described above and unlike Glitnir, Íslandsbanki is only active in the Icelandic market.
Ker se je izkazalo, da so bili finančni pogoji v teh novih podjetjih slabši od pričakovanih, se je na podlagi odločitve Organa za finančni nadzor hranilnica SpKef pozneje združila s Landsbankinn, Byr hf. pa z Íslandsbanki po zbiranju ponudb za nakup delnic hranilnice Byr.
Whilst most of this reduction is evidently a result of the winding up of Glitnir's international operations, the Authority is of the view that this process is of particular relevance as regards the distortions of competition, as it was in particular Glitnir's risky overseas strategy that led to its collapse and caused distortions in the EEA financial markets in the past [91].
Islandski organi so bili nadalje pozvani, da bi rešili finančne težave banke Saga Capital Investment Bank leta 2009, leta 2011 pa stanovanjskega finančnega sklada.
In addition, the Authority welcomes Íslandsbanki's commitments (see Annex) to reduce its domestic market presence further by […] divestments relating to […].
Kot primer obsega strmega padca vrednosti se lahko navede mesečno povprečje menjalnega tečaja iz EUR v ISK, ki je z 90,71 ISK v decembru 2007 narasel na 184,64 ISK v novembru 2009.
On the basis of the final restructuring plan, and recalling that Íslandsbanki is a small bank by EEA standards, the Authority agrees with Íslandsbanki that further structural measures could endanger the bank's prospects of restoring long-term viability [92].
Med leti 2009 in 2011 je bil delež naložb v BDP le 13–14-odstoten.
The Authority takes note of the commitment that Íslandsbanki will not acquire financial institutions until 15 October 2014, except if it obtains the Authority's approval beforehand.
Trgovinska bilanca se nanaša na razliko pri zaslužku od izvoza in uvoza blaga in storitev.
This means, unless further mergers would be necessitated by financial stability considerations, that further concentration of the Icelandic financial market through acquisitions by Íslandsbanki can be prevented.
O tej zadevi glej na primer poročilo ministra za gospodarske zadeve parlamentu iz marca 2012: „Future Structure of the Icelandic Financial System“.
This commitment also ensures that the aid that has been granted to Íslandsbanki is used for restoring its viability rather than it being used to consolidate and further expand its market presence in Iceland.
Po navedbah ministrstva se to poročilo obravnava kot katalizator za strokovno razpravo o tej pomembni zadevi, v njem namreč ni popolnoma izoblikovanih predlogov, temveč so določena najpomembnejša vprašanja in pogledi z navedbami mednarodnega razvoja.
The same is true for Íslandsbanki's commitment pursuant to which it will, until 15 October 2014, neither enforce contract clauses nor introduce new contract clauses which make special terms on interest rates contingent upon maintaining a minimum range of business with the bank, as well as for the commitment not to invoke state involvement as a source of a competitive advantage when marketing its services.
Poročilo je na voljo na: http://eng.efnahagsraduneyti.is/media/Acrobat/Future-Structure.pdf.
As described above, the Icelandic financial market currently presents a challenging operating environment for any bank, which is reflected also by the almost complete absence of interest from abroad to enter this market at the present time.
Ponovna uporaba normalnih pogojev za zajamčene vloge se ne nanaša le na odpravo državne podpore za take vloge, ampak tudi na pregled določb iz zakona o izrednih razmerah, v skladu s katerimi imajo vloge, ki po zakonu uživajo jamstva, prednost pri likvidaciji finančnih podjetij.
The Authority thus welcomes the commitments by Íslandsbanki relating to facilitating the switching between banks and providing basic payment processing as well as money distribution services.
Glej poglavje 9 poročila ministra za gospodarske zadeve, navedenega v opombi št. 25.
The Authority is of the view that those measures, in conjunction with the agreement between the three major banks and ICA on RB mentioned above ensure that smaller market participants can access the most essential infrastructure and services at reasonable prices without the larger players being able to block their access.
Minister za gospodarske zadeve je ob predstavitvi navedenega poročila imenoval tudi skupino strokovnjakov s področja bančništva, pri kateri sodelujejo tuji strokovnjaki, da pripravijo predloge o obsežnem pravnem in regulativnem okviru za finančni trg celotne Islandije.
The Authority is of the view that this will reduce the barriers to entry for future (potential) market participants, and could allow existing smaller players to expand their market shares if they are able to offer better services than their larger competitors.
Islandski organi naj bi v skladu s tem poročilom tudi predvidoma proučili druge prihodnje možnosti, vključno z možno razdelitvijo investicijskih in komercialnih bančniških dejavnosti, sprejetjem zakonodaje o finančni stabilnosti ter možno spremembo razdelitve pristojnosti regulativnih organov za finančne storitve.
Moreover, the measures aimed at facilitating switching will contribute to more fierce competition between the existing large players, and could contribute to prevent or dissolve a situation of potential collective dominance.
Iz izjav islandskih organov je prav tako jasno, da je vprašanje pregleda okvira monetarne politike še vedno odprto, z možnostjo da bi Islandija postala članica Evropske unije ali brez te možnosti, pa tudi drugi možni načini za izboljšanje gospodarskega upravljanja in zagotavljanje, da regulativni organi „vidijo cel gozd, ne le dreves“ ter učinkovito uporabijo najustreznejša makrobonitetna orodja.
Lastly, Íslandsbanki commits to sell, as soon as possible, shareholdings in operating companies which have been taken over due to restructuring in line with Article 22 of the Act on financial undertakings No 161/2002, commits to follow the procedure and time-limits which are set out in this provision, and will maintain up-to-date information on its website or of a subsidiary on subsidiaries and shareholdings that are held for sale.
Glej poglavje 6 poročila ministra za gospodarske zadeve parlamentu:„The Future Structure of the Icelandic Financial System“, na voljo na http://eng.efnahagsraduneyti.is/publications/news/nr/3559.
The Authority welcomes Íslandsbanki's commitment to divest as soon as possible all companies and shareholdings that are not related to its core business, not the least because of viability concerns.
Od jeseni leta 2008 se na trgu (poleg „nekdanjih“ velikih komercialnih bank, kot so: Glitnir, Kaupthing in Landsbanki) ne pojavlja nekaj finančnih podjetij, kot na primer: Sparisjóðabanki Íslands (prej imenovana Icebank), hranilnica Reykjavik (SPRON), Sparisjóður Mýrasýslu (hranilnica Myrasysla, SPM), investicijska banka VBS in investicijska banka Askar Capital.
Whilst the Authority is of the view that it is self-evident that the bank needs to respect domestic legal obligations such as Article 22 of the Act on financial undertaking, it takes note of this commitment and draws the Icelandic authorities' and beneficiaries' attention to the fact that in this regard a breach of national law might also entail a misuse of aid.
Znatno so se zmanjšale tudi dejavnosti investicijskih bank Straumur-Burdaras in Saga Capital.
The Authority moreover considers that by having to include information about foreseen divestments and sales on its website, more transparency about the current ownership situation in the Icelandic economy is introduced.
Na srečanju delničarjev banke MP 11. aprila 2011, ko je več kot 40 novih delničarjev vložilo 5,5 milijarde ISK v nove delnice banke, je bila odobrena pogodba za prodajo (nekdanjih) dejavnosti banke MP na Islandiji in v Litvi.
This remedies, at least to some extent, this particular competition concern that currently characterises Iceland's markets.
Druge dejavnosti nekdanje banke so ostale pri prejšnjih lastnikih in so bile prenesene na nov pravni subjekt – EA fjárfestingarfélag hf.
On the basis of all of the above, given in particular the specific situation in Iceland and the fact that the Authority considers that the above measures address the main competition issues that the Authority has identified in collaboration with the ICA, and taking into account the overriding objective of financial stability, the Authority concludes that the commitments limit distortions of competition to a satisfactory degree.
Za dodatne informacije glej sporočila za medije banke MP z dne 11. aprila 2011, ki so voljo na https://www.mp.is/um-mp-banka/utgefid-efni/frettir/nr/1511 in https://www.mp.is/um-mp-banka/utgefid-efni/frettir/nr/1510.
The restructuring aid therefore complies with section 4 of the Restructuring Guidelines.
Družba RB in njeni lastniki so se glede na poravnavo dogovorili o številnih zavezah, katerih namen je preprečiti izkrivljanje konkurence, ki izhaja iz dejavnosti družbe RB in sodelovanja njenih lastnikov.
CONCLUSION
V skladu z zahtevami družba RB med drugim posluje pod splošnimi komercialnimi pogoji, neodvisno od svojih lastnikov, večina upravnega odbora družbe RB je sestavljena iz strokovnjakov, neodvisnih od lastnikov, dostop do sistemov in storitev družbe RB se zagotavlja na nediskriminacijski podlagi ter pogoji zagotavljanja storitev družbe RB so enaki, ne glede na to, ali je stranka delničar družbe RB ali ni.
On the basis of the foregoing assessment and in the light of the restructuring plan submitted by the Icelandic authorities for Íslandsbanki, the Authority's doubts expressed in the opening decision as regards the nature and the compatibility of the aid measures for Íslandsbanki are allayed.
Sedanji lastniki družbe RB so se zavezali, da bodo redno ponujali del svojih deležev v tej družbi za prodajo, da bi nefinančna podjetja lažje prevzela lastništvo v tej družbi.
HAS ADOPTED THIS DECISION:
Islandski organ za konkurenco uporablja pojem operativne družbe („operating companies“) za deleže, ki jih imajo banke v običajno nefinančnih podjetjih, ki so jih pridobile v zvezi s prestrukturiranjem svojih posojilnih portfeljev prek zamenjav dolga v lastniški kapital ali drugače.
Article 1
Nadzorni organ prav tako uporablja pojem „operativna družba“ tudi za podjetje v realnem gospodarstvu, ki ne spada k osnovi dejavnosti banke na finančnih trgih.
The initial operating capital, the (temporary) full state capitalisation, the retention by the State of the 5 % share capital and the Tier-II capital granted to Íslandsbanki as well as the special liquidity facility, the unlimited deposit guarantee and the Straumur agreement constitute state aid within the meaning of Article 61(1) of the EEA Agreement.
Nadzorni organ v tem okviru razume, da se posredno lastništvo nanaša na to, da banke morda vplivajo na družbe in jih nadzorujejo zaradi velike zadolženosti pri banki.
Article 2
Letno poročilo banke Glitnir za leto 2007, str. 40.
The measures enumerated in Article 1 constitute unlawful state aid from the dates of their implementation to the date of this decision in view of the failure by the Icelandic authorities to comply with the requirement to notify the Authority before implementing the aid in accordance with Article 1(3) of Part I of Protocol 3.
Poročilo je na voljo na: http://tools.euroland.com/arinhtml/is-isb/2007/ar_eng_2007/.
Article 3
Konsolidirani računovodski izkazi banke Glitnir za leto 2007 so na voljo na: http://en.sff.is/media/auglysingar/Glitnir_-Annual_Report_2007.pdf.
The authorisation for the unlimited deposit guarantee expires at the end of 2014.
Vendar so to le ocene islandskih organov, ker večina transakcij, s katerimi se določa tržni delež bank v tem poslovnem segmentu, ni javno objavljenih.
Article 4
Diagrami temeljijo na podatkih za banko Glitnir v prvi polovici leta 2008 in banko Íslandsbanki v prvi polovici leta 2009.
This Decision is addressed to the Republic of Iceland.
V ta sporazum so bile 31. julija 2009, 14. avgusta 2009 in 4. septembra 2009 vključene manjše spremembe, končni sporazum pa je bil podpisan 13. septembra 2009.
Article 5
„Euro Interbank Offered Rate“.
Done at Brussels, 27 June 2012.
22.
For the EFTA Surveillance Authority
UL L 135, 31.5.1994, str.
President
5.
College Member
Angleški prevod izjave je na voljo na: http://eng.forsaetisraduneyti.is/news-and-articles/nr/3033.
This document is made available for information purposes only.
Minister za gospodarske zadeve se je nanjo skliceval tudi v nedavnem intervjuju za časopis Viðskiptablaðið 2. decembra 2010, str. 8: „[Izjava] bo pravočasno preklicana.
In this public version, some information has been omitted so as not to divulge confidential information.
Ne nameravamo v nedogled ohranjati neomejenega jamstva za vloge.
This is denoted by […] or a range in square brackets providing for a non-confidential approximation of the relevant figure.
Vendar je vprašanje, kdaj bo preklicana, odvisno od tega, kdaj bo začel veljati drug in učinkovit sistem vlog ter kdaj bo finančni sistem v celoti rešil svoja vprašanja“ (prevod Nadzornega organa).
See for a more thorough description of the procedure the opening decision, referred to in footnote 3.
Ustrezni odstavek se lahko najde v oddelku 16 (na str. 6) pisma: http://www.efnahagsraduneyti.is/media/Acrobat/Letter_of_Intent_2nd_review_-_o.pdf.
The Authority's Decision No 494/10/COL, opening the formal investigation procedure into state aid granted in the restoration of certain operations of (old) Glitnir Bank hf and the establishment and capitalisation of New Glitnir Bank hf (now renamed Íslandsbanki), OJ C 41, 10.2.2011, p. 51 and EEA Supplement to the Official Journal No 7, 10.2.2011, p. 50.
http://hamar.stjr.is/Fjarlagavefur-Hluti-II/GreinargerdirogRaedur/Fjarlagafrumvarp/2011/Seinni_hluti/Kafli_8.htm [Mbl 10. junija 2012].
Further information on the procedure leading up to the Authority's Decision No 494/10/COL, can be found in the procedure part of the decision.
Izjava, kot jo je neuradno prevedel Nadzorni organ, o kateri so 10. junija 2012 poročali v časopisu Morgunblaðið (www.mbl.is).