natgillin/translations-raw huggingface dataset:
This Chapter explains how the Authority will examine aid for the restructuring of banks in the current crisis, taking into account the need to modulate past practice in the light of the nature and the global scale of the crisis, the systemic role of the banking sector for the whole economy, and the systemic effects which may arise from the need of a number of banks to restructure within the same period:
To poglavje pojasnjuje, kako bo Nadzorni organ ocenjeval pomoč za prestrukturiranje bank v sedanji krizi, upoštevajoč potrebo po prilagoditvi pretekle prakse glede na naravo in svetovno razsežnost krize, sistemsko vlogo bančnega sektorja za celotno gospodarstvo ter sistemske učinke, ki bi jih lahko povzročila potreba po prestrukturiranju številnih bank v istem obdobju:
The restructuring plan will need to include a thorough diagnosis of the bank's problems.
načrt prestrukturiranja bo moral vključevati temeljito diagnozo težav banke.
In order to devise sustainable strategies for the restoration of viability, banks will therefore be required to stress test their business.
Da bi lahko oblikovale vzdržne strategije za ponovno vzpostavitev uspešnega poslovanja, bodo morale banke torej opraviti test poslovanja v izjemnih situacijah.
This first step in the restoration of viability should be based on common parameters which will build to the extent possible on appropriate methodologies agreed at EEA level.
Ta prvi korak k obnovitvi uspešnega poslovanja mora temeljiti na skupnih parametrih, ki bodo, kolikor je mogoče, izhajali iz ustreznih metodologij, dogovorjenih na ravni EGP.
Banks will also be required, where applicable, to disclose impaired assets [9].
Banke bodo morale v določenih primerih razkriti tudi oslabljena sredstva [9],
Given the overriding goal of financial stability and the prevailing difficult economic outlook throughout the EEA, special attention will be given to the design of a restructuring plan, and in particular to ensuring a sufficiently flexible and realistic timing of the necessary implementation steps.
glede na prednostni cilj finančne stabilnosti in pretežno slabe gospodarske napovedi po vsem EGP bo posebna pozornost namenjena zasnovi načrta prestrukturiranja, zlasti zagotovitvi dovolj prilagodljivega in realističnega časovnega okvira za potrebne faze njegovega izvajanja.
Where the immediate implementation of structural measures is not possible due to market circumstances, intermediate behavioural safeguards should be considered.
Če zaradi razmer na trgu ni mogoče takoj izvesti strukturnih ukrepov, je treba razmisliti o vmesnih zaščitnih ukrepih v zvezi z ravnanjem bank,
The Authority will apply the basic principle of appropriate burden sharing between EFTA States and the beneficiary banks with the overall situation of the financial sector in mind.
Nadzorni organ bo uporabil osnovno načelo ustrezne porazdelitve bremena med državami Efte in bankami upravičenkami, pri čemer bo upošteval splošne razmere v finančnem sektorju.
Where significant burden sharing is not immediately possible due to market circumstances at the time of the rescue, this should be addressed at a later stage of the implementation of the restructuring plan.
Če zaradi razmer na trgu v času reševanja ni možna takojšnja obsežna porazdelitev bremena, je treba to urediti na poznejši stopnji izvajanja načrta prestrukturiranja,
Measures to limit distortion of competition by a rescued bank in the same EFTA State or in other EEA States should be designed in a way that limits any disadvantage to other banks while taking into account the fact that the systemic nature of the current crisis has required very widespread State intervention in the sector.
ukrepi za omejitev izkrivljanja konkurence zaradi reševanja banke v isti državi Efte ali drugih državah EGP morajo biti zasnovani tako, da omejujejo škodo za druge banke, hkrati pa upoštevajo dejstvo, da sistemska narava trenutne krize zahteva obsežne državne posege v bančni sektor,
Provision of additional aid during the restructuring period should remain a possibility if justified by reasons of financial stability.
Zagotavljanje dodatne pomoči v obdobju prestrukturiranja bi moralo ostati omogočeno, če je to upravičeno zaradi ohranjanja finančne stabilnosti.
Any additional aid should remain limited to the minimum necessary to ensure viability.
Vsaka dodatna pomoč mora biti omejena na najnižjo potrebno za zagotovitev uspešnega poslovanja.
Section 2 of this Chapter applies to cases where the EFTA State is under an obligation to notify a restructuring plan [10].
Oddelek 2 tega poglavja se nanaša le na primere, ko mora država Efte priglasiti načrt prestrukturiranja [10].
The principles underlying Section 2 apply by analogy to cases where the EFTA State is not under a formal obligation to notify a restructuring plan, but is nonetheless required to demonstrate viability [11] of the beneficiary bank.
Načela, ki so podlaga za oddelek 2, se po analogiji uporabljajo za primere, ko državi Efte formalno ni treba priglasiti načrta prestrukturiranja, vendar mora kljub temu dokazati uspešnost poslovanja [11] banke upravičenke.
In the latter case, and save situations where there are doubts, the Authority will normally request less detailed information [12].
V takih primerih Nadzorni organ običajno zahteva manj podrobne informacije [12], razen če obstajajo pomisleki.
In case of doubt, the Authority will, in particular, seek evidence of adequate stress testing, in accordance with point 13, and of validation of the results of the stress testing by the competent national authority.
V primeru dvoma bo Nadzorni organ zahteval predvsem dokaze o ustreznem testiranju izjemnih situacij v skladu s točko 13 ter dokaze, da je rezultate testiranja potrdil pristojni nacionalni organ.
Sections 3, 4 and 5 only apply to cases where the EFTA State is under an obligation to notify a restructuring plan.
Oddelki 3, 4 in 5 se nanašajo le na primere, ko mora država Efte priglasiti načrt prestrukturiranja.
Section 6 deals with the temporal scope of this Chapter and applies both to EFTA States required to notify a restructuring plan for the aid beneficiary and to EFTA States required only to demonstrate the viability of aid beneficiaries.
Oddelek 6 obravnava omejeno trajanje veljavnosti tega poglavja in velja tako za države Efte, ki morajo priglasiti načrt prestrukturiranja za upravičenko, kot tudi za države Efte, ki morajo dokazati le uspešno poslovanje upravičenk.
Restoring long-term viability
Ponovna vzpostavitev dolgoročno uspešnega poslovanja
Where, on the basis of previous guidance or decisions by the Authority, an EFTA State is under an obligation to submit a restructuring plan [13], that plan should be comprehensive, detailed and based on a coherent concept.
Če mora država Efte na podlagi prejšnjih smernic ali odločb Nadzornega organa predložiti načrt prestrukturiranja [13], mora biti ta načrt celovit in podroben ter mora temeljiti na usklajenem konceptu.
It should demonstrate how the bank will restore long-term viability without State aid as soon as possible [14].
Pokazati mora, kako bo banka čim prej začela ponovno dolgoročno uspešno poslovati brez državne pomoči [14].
The notification of any restructuring plan should include a comparison with alternative options, including a break-up, or absorption by another bank, in order to allow the Authority to assess [15] whether more market oriented, less costly or less distortive solutions are available consistent with maintaining financial stability.
Priglasitev vsakega načrta prestrukturiranja mora vključevati primerjavo z drugimi možnostmi, vključno z razdelitvijo ali pripojitvijo k drugi banki, da lahko Nadzorni organ oceni [15], ali so na voljo bolj tržno naravnane, manj drage ali manj izkrivljajoče rešitve, ki omogočajo ohranjanje finančne stabilnosti.
In the event that the bank cannot be restored to viability, the restructuring plan should indicate how it can be wound up in an orderly fashion.
Če ponovna vzpostavitev uspešnega poslovanja banke ni možna, je treba v načrtu prestrukturiranja pojasniti, kako bi bilo mogoče izvesti njeno pravilno likvidacijo.
The restructuring plan should identify the causes of the bank's difficulties and the bank's own weaknesses and outline how the proposed restructuring measures remedy the bank's underlying problems.
Načrt prestrukturiranja mora opredeliti vzroke za težave banke in njene lastne slabosti ter opisati, na kakšen način bodo predlagani ukrepi prestrukturiranja pripomogli k reševanju temeljnih problemov banke.
The restructuring plan should provide information on the business model of the beneficiary, including in particular its organisational structure, funding (demonstrating viability of the short and long term funding structure [16]), corporate governance (demonstrating prevention of conflicts of interest as well as necessary management changes [17]), risk management (including disclosure of impaired assets and prudent provisioning for expected non-performing assets), and asset-liability management, cash-flow generation (which should reach sufficient levels without State support), off-balance sheet commitments (demonstrating their sustainability and consolidation when the bank bears a significant exposure [18]), leveraging, current and prospective capital adequacy in line with applicable supervisory regulation (based on prudent valuation and adequate provisioning), and the remuneration incentive structure [19], (demonstrating how it promotes the beneficiary's long-term profitability).
V načrtu prestrukturiranja je treba zagotoviti informacije o poslovnem modelu upravičenke, zlasti o njeni organizacijski strukturi, financiranju (dokazati je treba uspešno delovanje kratko- in dolgoročne strukture financiranja [16]), upravljanju (dokazati je treba preprečevanje navzkrižja interesov in potrebne spremembe pri vodenju [17]), upravljanju tveganj (vključno z razkritjem oslabljenih sredstev in premišljenim oblikovanjem dolgoročnih rezervacij za pričakovano nedonosno aktivo) ter upravljanju sredstev in obveznosti, ustvarjanju denarnega toka (ki mora doseči zadostno raven brez državne pomoči), zunajbilančnih obveznostih (dokazati je treba njihovo vzdržnost in konsolidacijo, če je izpostavljenost banke tveganju precejšnja [18]), financiranju s posojili, sedanji in prihodnji kapitalski ustreznosti v skladu z veljavno nadzorno uredbo (na podlagi preudarnega vrednotenja in ustreznega oblikovanja rezervacij) ter informacije o strukturi plačnih spodbud [19] (pokazati je treba, kako ta struktura prispeva k dolgoročni donosnosti upravičenke).
The viability of each business activity and centre of profit should be analysed, with the necessary breakdown.
Uspešnost poslovanja je treba s potrebno razčlenitvijo analizirati za vsako posamezno poslovno dejavnost in profitni center.
The return to viability of the bank should mainly derive from internal measures.
Ponovna vzpostavitev uspešnega poslovanja banke bi morala temeljiti predvsem na notranjih ukrepih.
It may be based on external factors such as variations in prices and demand over which the undertaking has no great influence, but only if the market assumptions made are generally acknowledged.
Sicer lahko izvira tudi iz zunanjih dejavnikov, kot so nihanja cen in povpraševanja, na katere podjetje ne more bistveno vplivati, vendar le, če so tržne predpostavke splošno sprejete.
Restructuring requires a withdrawal from activities which would remain structurally loss making in the medium term.
Prestrukturiranje zahteva opustitev dejavnosti, ki bi srednjeročno iz strukturnih razlogov še naprej ustvarjale izgubo.
Long-term viability is achieved when a bank is able to cover all its costs including depreciation and financial charges and provide an appropriate return on equity, taking into account the risk profile of the bank.
Dolgoročno uspešno poslovanje je doseženo, ko je banka sposobna kriti vse svoje stroške, vključno z amortizacijo in finančnimi dajatvami, ter zagotoviti ustrezno donosnost kapitala ob upoštevanju profila tveganja banke.
The restructured bank should be able to compete in the market place for capital on its own merits in compliance with relevant regulatory requirements.
Prestrukturirana banka mora biti sposobna samostojno konkurirati za kapital na trgu v skladu z ustreznimi regulativnimi zahtevami.
The expected results of the planned restructuring need to be demonstrated under a base case scenario as well as under ‘stress’ scenarios.
Za pričakovane rezultate načrtovanega prestrukturiranja je treba predložiti osnovni scenarij kot tudi „izjemne“ scenarije.
For this, restructuring plans need to take account, inter alia, of the current state and future prospects of the financial markets, reflecting base-case and worst-case assumptions.
Zato morajo načrti prestrukturiranja med drugim upoštevati trenutne razmere na finančnih trgih in prihodnje obete zanje, ki vključujejo predpostavke za osnovni in najslabši scenarij.
Stress testing should consider a range of scenarios, including a combination of stress events and a protracted global recession.
Testiranje izjemnih situacij bi moralo vključevati niz scenarijev, med drugim kombinacijo izjemnih dogodkov in dolgotrajne svetovne recesije.
Assumptions should be compared with appropriate sector-wide benchmarks, adequately amended to take account of the new elements of the current crisis in financial markets.
Predpostavke je treba primerjati s sektorskimi merili, ki morajo biti ustrezno prilagojena, tako da se upoštevajo novi elementi trenutne krize na finančnih trgih.
The plan should include measures to address possible requirements emerging from stress testing.
Načrt mora vključevati ukrepe za zadostitev morebitnim zahtevam, ki izhajajo iz testiranja izjemnih situacij.
The stress testing should, to the extent possible, be based on common parameters such as those agreed at Community level (such as a methodology developed by the Committee of European Banking Supervisors) and, where appropriate, adapted to cater for country- and bank-specific circumstances.
Kolikor je mogoče, mora testiranje izjemnih situacij temeljiti na skupnih parametrih, na primer tistih, dogovorjenih na ravni Skupnosti (na primer na metodologiji, ki jo je razvil Odbor evropskih bančnih nadzornikov), po potrebi pa se ga prilagodi posebnim okoliščinam v posameznih državah in bankah.
In the current crisis governments have recapitalised banks on terms chosen primarily for reasons of financial stability rather than for a return which would have been acceptable to a private investor.
V sedanji krizi so države dokapitalizirale banke pod pogoji, ki so bili izbrani predvsem za ohranjanje finančne stabilnosti in ne toliko za zagotovitev donosnosti, ki bi bila sprejemljiva za zasebnega vlagatelja.
Long-term viability therefore requires that any State aid received is either redeemed over time, as anticipated at the time the aid is granted, or is remunerated according to normal market conditions, thereby ensuring that any form of additional State aid is terminated.
Dolgoročno uspešno poslovanje zato zahteva, da se vsaka prejeta državna pomoč sčasoma odplača, kot je predvideno ob dodelitvi pomoči, ali pa se zanjo plača nadomestilo po običajnih tržnih pogojih, s čimer se zagotovi prenehanje vseh oblik dodatne državne pomoči.
As the EEA Agreement is neutral as to the ownership of property, State aid rules apply irrespective of whether a bank is in private or public ownership.
Sporazum EGP je glede lastništva nevtralen, zato pravila o državni pomoči veljajo tako za banke v zasebni kot v javni lasti.
While the restructuring period should be as short as possible so as to restore viability quickly, the Authority will take into account the current crisis conditions and may therefore allow some structural measures to be completed within a longer time horizon than is usually the case, notably to avoid depressing markets through fire sales [20].
Obdobje prestrukturiranja mora biti sicer čim krajše, da začne banka čim prej spet uspešno poslovati, vendar pa bo Nadzorni organ upošteval trenutne krizne razmere in lahko dovoli, da se nekateri strukturni ukrepi dokončajo v daljšem obdobju kot običajno, zlasti zato, da se prepreči padec cen na trgih zaradi nujnih prodaj [20].
However, restructuring should be implemented as soon as possible and should not last more than five years [21] to be effective and allow for a credible return to viability of the restructured bank.
Kljub temu mora biti prestrukturiranje izvedeno čim prej in ne sme trajati več kot pet let [21], da bi bilo učinkovito in da se zagotovi kredibilna vrnitev prestrukturirane banke k uspešnemu poslovanju.
Should further aid not initially foreseen in the notified restructuring plan be necessary during the restructuring period for the restoration of viability, this will be subject to individual ex ante notification and any such further aid will be taken into account in the Authority’s final decision.
Če se izkaže, da je za ponovno vzpostavitev uspešnega poslovanja potrebna dodatna pomoč, ki za obdobje prestrukturiranja v prvotno priglašenem načrtu prestrukturiranja ni bila predvidena, je treba vsako tako dodatno pomoč predhodno priglasiti, kar bo Nadzorni organ upošteval v svoji končni odločbi.
Viability through sale of a bank
Ponovna vzpostavitev uspešnega poslovanja s prodajo banke
The sale of an ailing bank to another financial institution can contribute to the restoration of long-term viability, if the purchaser is viable and capable of absorbing the transfer of the ailing bank, and may help to restore market confidence.
Prodaja banke v težavah drugi finančni instituciji lahko prispeva k ponovni vzpostavitvi dolgoročnega uspešnega poslovanja, če kupec uspešno posluje in je sposoben absorbirati prenos banke v težavah ter lahko pripomore k povrnitvi zaupanja v trge.
It may also contribute to the consolidation of the financial sector.
Prispeva lahko tudi h konsolidaciji finančnega sektorja.
To this end, the purchaser should demonstrate that the integrated entity will be viable.
Zato mora kupec dokazati, da bo združeni subjekt uspešno posloval.
In the case of a sale, the requirements of viability, own contribution and limitations of distortions of competition also need to be respected.
V primeru prodaje je treba spoštovati tudi zahteve glede uspešnega poslovanja, lastnega prispevka in omejevanja izkrivljanja konkurence.
A transparent, objective, unconditional and non-discriminatory competitive sale process should generally be ensured to offer equal opportunities to all potential bidders [22].
Treba je zagotoviti pregleden, objektiven in nediskriminacijski konkurenčni postopek prodaje brez pogojev, ki zagotavlja enake možnosti vsem potencialnim ponudnikom [22].
Furthermore, without prejudice to the merger control system that may be applicable, and while recognising that the sale of an aided ailing bank to a competitor can both contribute to the restoration of long-term viability and result in increased consolidation of the financial sector, where such a sale would result prima facie in a significant impediment of effective competition, it should not be allowed unless the distortions of competition are addressed by appropriate remedies accompanying the aid.
Ne glede na morebitni veljavni sistem nadzora združitev, ter ob upoštevanju dejstva, da lahko prodaja banke v težavah, ki prejema pomoč, konkurenčni banki, prispeva k ponovni vzpostavitvi dolgoročno uspešnega poslovanja in hkrati poveča konsolidacijo finančnega sektorja, pa se prodaja take banke, ki bi prima facie resno ovirala učinkovito konkurenco, ne sme dovoliti, razen če se hkrati ne sprejmejo ustrezni ukrepi za omejitev izkrivljanja konkurence.
The sale of a bank may also involve State aid to the buyer and/or to the sold activity [23].
Prodaja banke lahko vključuje tudi državno pomoč kupcu in/ali prodani dejavnosti [23].
If the sale is organised via an open and unconditional competitive tender and the assets go to the highest bidder, the sale price is considered to be the market price and aid to the buyer can be excluded [24].
Če prodaja poteka prek javnega zbiranja konkurenčnih ponudb brez pogojev in se aktiva proda najboljšemu ponudniku, se šteje, da je prodajna cena tržna cena, in se lahko pomoč kupcu izključi [24].
A negative sale price (or financial support to compensate for such a negative price) may exceptionally be accepted as not involving State aid if the seller would have to bear higher costs in the event of liquidation [25].
Izjemoma se lahko šteje, da negativna prodajna cena (ali finančna pomoč za kompenzacijo te negativne cene), ne vključuje državne pomoči, če bi bili stroški prodajalca v primeru likvidacije višji [25].
For the calculation of the cost of liquidation in such circumstances, the Authority will only take account of those liabilities which would have been entered into by a market economy investor [26].
Za izračun stroškov likvidacije v takih primerih bo Nadzorni organ upošteval le tiste obveznosti, ki bi jih prevzel vlagatelj v tržnem gospodarstvu [26].
This excludes liabilities stemming from State aid [27].
To izključuje obveznosti, ki izvirajo iz državne pomoči [27].
An orderly winding-up or the auctioning off of a failed bank should always be considered where a bank cannot credibly return to long-term viability.
Če banka ne more kredibilno ponovno začeti dolgoročno uspešno poslovati, je treba vedno razmisliti o pravilni likvidaciji ali prodaji neuspešne banke na dražbi.
Governments should encourage the exit of non-viable players, while allowing for the exit process to take place within an appropriate time frame that preserves financial stability.
Države bi morale spodbujati izstop neuspešnih subjektov, postopek izstopa pa mora potekati v ustreznem časovnem okviru, da se ohrani finančna stabilnost.
The Banking Guidelines provide for a procedure in the framework of which such orderly winding up should take place [28].
Smernice o bančništvu določajo postopek, v okviru katerega je treba izvesti tako pravilno likvidacijo [28].
Acquisition of the ‘good’ assets and liabilities of a bank in difficulty may also be an option for a healthy bank as it could be a cost effective way to expand deposits and build relationships with reliable borrowers.
Prevzem „dobrih“ sredstev in obveznosti banke v težavah je lahko tudi možnost za zdravo banko, saj lahko tako na stroškovno učinkovit način poveča vloge in vzpostavi stike z zanesljivimi posojilojemalci.
Moreover, the creation of an autonomous ‘good bank’ from a combination of the ‘good’ assets and liabilities of an existing bank may also be an acceptable path to viability, provided this new entity is not in a position to unduly distort competition.
Poleg tega je lahko ustanovitev avtonomne „dobre banke“ iz kombinacije „dobrih“ sredstev in obveznosti obstoječe banke tudi sprejemljiva pot do ponovne vzpostavitve uspešnega poslovanja, pod pogojem, da novonastali subjekt ne more neupravičeno izkrivljati konkurence.
Own contribution by the beneficiary (burden sharing)
Lastni prispevek upravičenke (porazdelitev bremena)
In order to limit distortions of competition and address moral hazard, aid should be limited to the minimum necessary and an appropriate own contribution to restructuring costs should be provided by the aid beneficiary.
Za zmanjšanje izkrivljanja konkurence in moralnega tveganja mora biti pomoč omejena na najnižjo potrebno, banka upravičenka pa mora zagotoviti ustrezen lastni prispevek k stroškom prestrukturiranja.
The bank and its capital holders should contribute to the restructuring as much as possible with their own resources.
Banka in njeni delničarji morajo z lastnimi sredstvi prispevati k prestrukturiranju največ, kar zmorejo.
This is necessary to ensure that rescued banks bear adequate responsibility for the consequences of their past behaviour and to create appropriate incentives for their future behaviour.
To je nujno, da se zagotovi, da bodo rešene banke prevzele primerno odgovornost za posledice svojih preteklih ravnanj in da se ustvarijo ustrezne spodbude za njihovo ravnanje v prihodnosti.