natgillin/translations-raw huggingface dataset:
Such a controlled liquidation, possibly carried out in conjunction with a contribution of public funds, may be applied in individual cases, either as a second step, after rescue aid to an individual financial institution when it becomes clear that the latter cannot be restructured successfully, or in one single action.
Takšna nadzorovana likvidacija, po možnosti izpeljana skupaj s prispevkom iz javnih sredstev, se lahko uporablja v posameznih primerih, bodisi kot naslednji ukrep po dodeljeni pomoči za reševanje posamezni finančni instituciji, ko postane jasno, da te ni mogoče uspešno prestrukturirati, bodisi kot samostojen ukrep.
Controlled winding-up may also constitute an element of a general guarantee scheme, e.g. where an EFTA State undertakes to initiate liquidation of the financial institutions for which the guarantee needs to be activated.
Nadzorovana likvidacija je lahko prav tako tudi element splošne jamstvene sheme, ko se, na primer, država Efte obveže, da bo začela likvidacijo finančne institucije, za katero je treba vzpostaviti jamstvo.
Again, the assessment of such a scheme and of individual liquidation measures taken under such a scheme follows the same lines, mutatis mutandis, as set out above for guarantee schemes.
Tudi ocena tovrstne sheme in posameznih ukrepov likvidacije, sprejetih v okviru te sheme, z ustreznimi prilagoditvami sledi enakim smernicam, kot so bile navedene zgoraj za jamstvene sheme.
The particular nature of a liquidation measure gives rise to the following considerations.
Zaradi posebnega značaja ukrepa likvidacije je treba upoštevati naslednje.
In the context of liquidation, particular care has to be taken to minimise moral hazard, notably by excluding shareholders and possibly certain types of creditors from receiving the benefit of any aid in the context of the controlled winding-up procedure.
Pri likvidaciji se je treba posebej posvetiti zmanjšanju moralnega tveganja, zlasti tako, da se delničarjem in tudi nekaterim vrstam upnikov prepreči, da imajo koristi od kakršne koli pomoči v okviru postopka nadzorovane likvidacije.
To avoid undue distortions of competition, the liquidation phase should be limited to the period strictly necessary for the orderly winding-up.
V izogib nepotrebnemu izkrivljanju konkurence se mora stopnja likvidacije omejiti na obdobje, ki je nujno potrebno za pravilno likvidacijo.
As long as the beneficiary financial institution continues to operate it should not pursue any new activities, but merely continue the ongoing ones.
Dokler upravičena finančna institucija deluje, ne sme začeti opravljati nobene nove dejavnosti, ampak le nadaljevati že začete.
The banking licence should be withdrawn as soon as possible.
Bančno dovoljenje ji je treba čim prej odvzeti.
In ensuring that the aid amount is kept to the minimum necessary in view of the objective pursued, it needs to be taken into account that the protection of financial stability within the current financial turmoil may imply the necessity to reimburse certain creditors of the liquidated bank through aid measures.
Za zagotovitev, da se znesek pomoči ohranja na najnižji možni ravni glede na zastavljeni cilj, je treba upoštevati, da zaščita finančne stabilnosti v okviru sedanjega finančnega kaosa lahko pomeni, da je treba določene upnike likvidirane banke izplačati v okviru ukrepa pomoči.
The choice of criteria for the selection of the types of liabilities for this purpose should follow the same rules as in relation to the liabilities covered by a guarantee scheme.
Določitev meril za izbiro vrste obveznosti za ta namen mora slediti enakim pravilom, kot veljajo v zvezi z obveznostmi, ki jih zajema jamstvena shema.
In order to ensure that no aid is granted to the buyers of the financial institution or parts of it or to the entities sold, it is important that certain sales conditions are respected.
Za zagotovitev, da se pomoč ne zagotovi kupcem finančnih institucij oziroma njihovih delov ali prodanim subjektom, je pomembno, da se spoštujejo nekateri prodajni pogoji.
The following criteria will be taken into account by the Authority when determining the potential existence of aid:
Nadzorni organ bo upošteval naslednja merila, ko bo določal morebitni obstoj pomoči:
the sales process should be open and non-discriminatory,
postopek prodaje mora biti javen in nediskriminatoren,
the sale should take place on market terms,
prodaja mora potekati pod tržnimi pogoji,
the financial institution or the government, depending on the structure chosen, should maximise the sales price for the assets and liabilities involved,
finančna institucija ali vlada, odvisno od izbrane oblike, mora kar se da povečati prodajno ceno za zadevna sredstva in obveznosti,
in case it is necessary to grant an aid to the economic activity to be sold, this will lead to an individual examination according to the principles of the R&R guidelines.
če je treba zagotoviti pomoč gospodarski dejavnosti, ki je naprodaj, bo to pomenilo posamezno proučitev v skladu z načeli smernic za reševanje in prestrukturiranje.
Where the application of these criteria leads to the finding of aid to buyers or to sold entities, the compatibility of that aid will have to be assessed separately.
Če se na podlagi teh meril ugotovi pomoč kupcem ali prodanim subjektom, bo treba skladnost te pomoči oceniti ločeno.
PROVISION OF OTHER FORMS OF LIQUIDITY ASSISTANCE
ZAGOTOVITEV DRUGIH OBLIK LIKVIDNOSTNE POMOČI
In dealing with acute liquidity problems of some financial institutions, EFTA States may wish to accompany guarantees or recapitalisation schemes with complementary forms of liquidity support, with the provisions of public funds (including funds from the central bank).
Države Efte pri obravnavi akutnih likvidnostnih problemov nekaterih finančnih institucij morda želijo jamstvom ali shemam dokapitalizacije dodati dopolnjujoče oblike likvidnostne podpore z zagotovitvijo javnih sredstev (tudi sredstva centralne banke).
Where an EFTA State/central bank reacts to a banking crisis not with selective measures in favour of individual banks, but with general measures open to all comparable market players in the market (e.g. lending to the whole market on equal terms), such general measures are often outside the scope of the State aid rules and do not need to be notified to the Authority.
Ko se država Efte/centralna banka ne odzove na bančno krizo s selektivnimi ukrepi v prid posameznim bankam, ampak s splošnimi ukrepi, ki so na voljo vsem primerljivim akterjem na trgu (npr. posojila celotnemu trgu pod enakimi pogoji), so ti splošni ukrepi pogosto zunaj obsega pravil o državni pomoči in jih ni treba priglasiti Nadzornemu organu.
The Authority considers for instance that activities of central banks related to monetary policy, such as open market operations and standing facilities, are not caught by the State aid rules.
Nadzorni organ, na primer, meni, da dejavnosti centralnih bank v zvezi z monetarno politiko, kot so operacije odprtega trga in odprte ponudbe, pravila o državni pomoči ne zajemajo.
Dedicated support to a specific financial institution may also be found not to constitute aid in specific circumstances.
Za podporo, namenjeno posameznim finančnim institucijam, se prav tako lahko ugotovi, da v posebnih okoliščinah ne pomeni pomoči.
Following the Commission’s decision-making practice [17], the Authority considers that the provision of central banks’ funds to the financial institution in such a case may be found not to constitute aid when a number of conditions are met, such as:
Glede na ustaljeno prakso odločanja Komisije [17] Nadzorni organ meni, da se za zagotovitev sredstev centralnih bank finančnim institucijam v takem primeru lahko ugotovi, da ne pomeni pomoči, če so izpolnjeni nekateri pogoji:
the financial institution is solvent at the moment of the liquidity provision and the latter is not part of a larger aid package,
finančna institucija je ob zagotovitvi likvidnih sredstev plačilno sposobna in ta sredstva niso del večjega paketa pomoči,
the facility is fully secured by collateral to which haircuts are applied, in function of its quality and market value,
institucija je v celoti zavarovana s premoženjem, za katero se uporabljajo odbitki pri vrednotenju glede na njeno kakovost in tržno vrednost,
the central bank charges a penal interest rate to the beneficiary,
centralna banka upravičencu zaračuna kazensko obrestno mero,
the measure is taken at the central bank’s own initiative, and in particular is not backed by any counter-guarantee of the state.
centralna banka da sama pobudo za ukrep, zlasti pa je ne podpira nobeno posredno jamstvo države.
The Authority considers that in the current exceptional circumstances a scheme of liquidity support from public sources (including the central bank) where it constitutes aid, can be found compatible, according to the principles of the R&R guidelines.
Nadzorni organ meni, da se v trenutnih izrednih razmerah shema likvidnostne podpore iz javnih virov (tudi centralne banke), kadar pomeni pomoč, glede na načela smernic za reševanje in prestrukturiranje lahko obravnava kot skladna.
Provided that the regular review of such a liquidity scheme every six months is ensured [18], the approval of the scheme may cover a period longer than six months and up to two years, in principle.
Če je redni pregled tovrstne likvidnostne sheme vsakih šest mesecev zagotovljen [18] lahko odobritev sheme zajema obdobje, ki je daljše od šestih mesecev in lahko načeloma traja do dveh let.
It may be further extended, upon the Authority’s approval, in the event that the crisis in the financial markets so requires.
Trajanje sheme je mogoče dodatno podaljšati, če Nadzorni organ to odobri in če to zahteva kriza na finančnih trgih.
RAPID TREATMENT OF STATE AID INVESTIGATIONS
HITRO OBRAVNAVANJE PREISKAV NA PODROČJU DRŽAVNE POMOČI
When applying the State aid rules to the measures dealt with in this Chapter in a manner that takes account of prevailing financial market conditions, the Authority, in co-operation with the EFTA States, should ensure both that they achieve their objective and that the related distortions of competition both within and between EEA States are kept to a minimum.
Ko se pravila o državni pomoči uporabljajo za ukrepe, ki jih obravnava to Poglavje tako, da se upoštevajo prevladujoči pogoji na finančnih trgih, mora Nadzorni organ v sodelovanju z državami Efte zagotoviti, da dosežejo svoj cilj in se s tem povezano izkrivljanje konkurence tako v državah EGP kot med njimi ohranja na najnižji možni ravni.
In order to facilitate this cooperation and to provide both EFTA States and third parties with the necessary legal certainty on the compliance of the measures undertaken with the EEA Agreement (which is a significant component of restoring confidence to the markets), it is of paramount importance that EFTA States inform the Authority of their intentions and notify plans to introduce such measures as early and comprehensively as possible and in any event before the measure is implemented.
Da se to sodelovanje olajša ter državam Efte in tretjim osebam zagotovi potrebna pravna varnost glede skladnosti sprejetih ukrepov s Sporazumom EGP (kar je pomemben sestavni del pri ponovnem vzpostavljanju zaupanja na trgih), je izredno pomembno, da države Efte obvestijo Nadzorni organ o svojih namenih in priglasijo načrte za uvedbo tovrstnih ukrepov čim hitreje in v čim popolnejši obliki ter v vsakem primeru, preden se ukrep začne izvajati.
The Authority is committed to ensuring the swift authorisation of aid measures upon receipt of complete notifications.
Nadzorni organ si prizadeva zagotoviti hitro odobritev ukrepov pomoči po prejetju popolnih priglasitev.
This Chapter corresponds to the Communication from the Commission—The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, OJ C 270 25.10.2008, p. 8.
To poglavje se navezuje na sporočilo Komisije z naslovom Uporaba pravil o državni pomoči za ukrepe v zvezi s finančnimi institucijami v okviru trenutne svetovne finančne krize, UL C 270, 25.10.2008, str. 8.
The ECOFIN Council conclusions enumerate the following principles:interventions should be timely and the support should in principle be temporary,Member States will be watchful regarding the interests of taxpayers,existing shareholders should bear the due consequences of the intervention,Member States should be in a position to bring about a change of management,the management should not retain undue benefits—governments may have inter alia the power to intervene in remuneration,legitimate interest of competitors must be protected, in particular through the State aid rules,negative spill-over effects should be avoided.
Sklepi Ekonomsko-finančnega sveta navajajo naslednja načela:posredovanje bi moralo biti pravočasno, pomoč pa načeloma začasna,države članice bi morale upoštevati interese davkoplačevalcev,obstoječi delničarji bi morali nositi pričakovane posledice posredovanja,države članice bi morale imeti možnost, da uvedejo spremembe v upravi,uprava ne bi smela obdržati neupravičenih koristi – vlade imajo lahko med drugim pravico do poseganja v njihove plače,upravičeni interes konkurentov se mora zaščititi, zlasti s pomočjo pravil o državni pomoči,izogniti bi se bilo treba negativnim učinkom na druga področja.
The Guidelines on aid for rescuing and restructuring firms in difficulties were adopted by the Authority with Decision No 305/04/COL of 1 December 2004.
Nadzorni organ je sprejel Smernice o državni pomoči za reševanje in prestrukturiranje podjetij v težavah z Odločbo št. 305/04/COL z dne 1. decembra 2004.
Cf. in principle joined cases T-132/96 and T-143/96 Freistaat Sachsen and Volkswagen AG v Commission [1999] ECR II-3663, paragraph 167.
Glej zlasti združeni zadevi T-132/96 in T-143/96 Freistaat Sachsen in Volkswagen AG proti Komisiji [1999] Recueil, str. II-3663, točka 167.
Confirmed in Commission Decision 98/490/EC in Case C 47/96 Crédit Lyonnais (OJ L 221, 8.8.1998, p. 28), point 10.1, Commission Decision 2005/345/EC in Case C 28/02 Bankgesellschaft Berlin (OJ L 116, 4.5.2005, p. 1), points 153 et seq. and Commission Decision 2008/263/EC in Case C 50/06 BAWAG (OJ L 83, 26.3.2008, p. 7), point 166.
Potrjeno v Odločbi Komisije 98/490/ES v zadevi C 47/96, Crédit Lyonnais (UL L 221, 8.8.1998, str. 28), točka 10.1, Odločbi Komisije 2005/345/ES v zadevi C 28/2002 Bankgesellschaft Berlin (UL L 116, 4.5.2005, str. 1), točke 153 in naslednje ter Odločbi Komisije 2008/263/ES v zadevi C 50/06 BAWAG (UL L 83, 26.3.2008, str. 7), točka 166.
See Commission Decision in Case NN 70/07 Northern Rock (OJ C 43, 16.2.2008, p. 1), Commission Decision in Case NN 25/08 Rescue aid to WestLB (OJ C 189, 26.7.2008, p. 3), Commission Decision of 4 June 2008 in Case C 9/08 SachsenLB, not yet published.
Glej odločbo Komisije v zadevi NN 70/07, Northern Rock (UL C 43, 16.2.2008, str. 1), odločbo Komisije v zadevi NN 25/08, Rescue aid to WestLB (UL C 189, 26.7.2008, str. 3), odločbo Komisije z dne 4. junija 2008 v zadevi C 9/08 SachsenLB, še ni objavljena.
It being understood that the exact nature and timing of the restructuring to be carried out may be affected by the present turmoil in the financial markets.
Razume se, da lahko na natančno obliko in časovni razpored prestrukturiranja, ki ga je treba izvesti, vplivajo sedanji nemiri na finančnih trgih.
The limitation of the amount of the guarantee available, possibly in relation to the balance sheet size of the beneficiary may also be an element safeguarding the proportionality of the scheme in this respect.
Omejitev zneska razpoložljivega jamstva, po možnosti glede na bilančni rezultat upravičenca, je tudi lahko element, ki v tem pogledu varuje sorazmernost sheme.
Such as, for example, covered bonds and debt and deposits with collateral in government bonds or covered bonds.
Kot so na primer krite obveznice ter dolgovi in bančne vloge, zavarovane z državnimi obveznicami ali kritimi obveznicami.
This is a non-exhaustive list of tools contributing to the objective of keeping the aid to the minimum.
To je neizčrpen seznam orodij, ki zagotavljajo, da pomoč ne preseže najnižje potrebne ravni.
E.g. through an association of private banks.
Npr. prek združenja zasebnih bank.
This is a non-exhaustive list of tools contributing to the objective of avoiding undue distortions of competition.
To je neizčrpen seznam orodij, ki zagotavljajo, da ukrep ne povzroči nepotrebnega izkrivljanja konkurence.
The retention of profits in order to ensure adequate recapitalization could also be an element to be considered in this context.
Zadrževanje dobička za zagotovitev ustrezne dokapitalizacije bi bilo prav tako mogoče obravnavati kot element v tem okviru.
While safeguarding the availability of credit to the economy notably in case of recession.
Ob hkratnem zagotavljanju razpoložljivosti posojil gospodarstvu v primeru recesije.
As a matter of principle, the Authority considers that in the event of payments having to be made to beneficiary financial institution, the payment has to be followed within six months by a restructuring plan or a liquidation plan, as the case may be.
Nadzorni organ načeloma meni, da mora v primeru izplačil finančni instituciji upravičenki temu v šestih mesecih slediti oblikovanje načrta prestrukturiranja ali likvidacije, kar koli je v posameznem primeru ustrezno.
In order to facilitate the work of the EFTA States and the Authority, the Authority will be prepared to examine grouped notifications of similar restructuring/liquidation cases.
Da bo Nadzorni organ olajšal delo državam Efte in sebi, bo pripravljen pregledovati skupine priglasitev podobnih primerov prestrukturiranja ali likvidacije.
The Authority may consider that there is no need to submit a plan for the pure liquidation of an institution, or where the size of the institution is negligible.
Nadzorni organ bo lahko prav tako upošteval, da ni potrebe po predložitvi načrta v zvezi s popolno likvidacijo institucije ali kadar je preostala gospodarska dejavnost zanemarljiva.
According to the principles of the R&R guidelines.
V skladu z načeli smernic za reševanje in prestrukturiranje.
The upfront provision of a certain contribution may need to be supplemented by provisions allowing the imposition of additional contributions at a later stage.
Določbo o vnaprejšnjih prispevkih bo morda treba dopolniti z določbami, ki dovoljujejo naknadno uvedbo dodatnih prispevkov.
In order to facilitate the work of the EFTA States and the Authority, the Authority will be prepared to examine grouped notifications of similar restructuring cases.
Da bo Nadzorni organ olajšal delo državam Efte in sebi, bo pripravljen pregledovati skupine priglasitev podobnih primerov prestrukturiranja.
The Authority may also consider that there is no need to submit a plan relating to a pure liquidation of the institution, or where the size of the residual economic activity is negligible.
Nadzorni organ bo lahko prav tako upošteval, da ni potrebe po predložitvi načrta v zvezi s popolno likvidacijo institucije ali kadar je preostala gospodarska dejavnost zanemarljiva.
See for instance Northern Rock (OJ C 43, 16.2.2008, p. 1).
Glej na primer Northern Rock (UL C 43, 16.2.2008, str. 1).
The principles set out above in point 24 would apply to this review.
Za ta pregled se uporabljajo načela iz točke 24 zgoraj.
The recapitalisation of financial institutions [1]in the current financial crisis: limitation of aid to the minimum necessary and safeguards against undue distortions of competition [2]1.
Dokapitalizacija finančnih institucij [1]v trenutni finančni krizi: omejitev pomoči na najmanjšo potrebno in zaščitni ukrepi za preprečevanje neupravičenega izkrivljanja konkurence [2]1.
The EFTA Surveillance Authority’s (hereinafter ‘the Authority’) Guidelines of 29 January 2009 on The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis [3] (‘the Guidelines on financial institutions’) recognize that recapitalisation schemes are one of the key measures that EFTA States [4] can take to preserve the stability and proper functioning of financial markets.
Nadzorni organ Efte (v nadaljnjem besedilu: Nadzorni organ) v smernicah z dne 29. januarja 2009, naslovljenih Uporaba pravil o državni pomoči za ukrepe v zvezi s finančnimi institucijami v okviru trenutne svetovne finančne krize [3] (v nadaljnjem besedilu: Smernice o finančnih institucijah) priznava, da so sheme dokapitalizacije eden ključnih ukrepov, ki jih države Efte [4] lahko sprejmejo za zagotavljanje stabilnosti in ustreznega delovanja finančnih trgov.
The ECOFIN Council of 7 October 2008 and the Eurogroup meeting of 12 October 2008 addressed recapitalisation in a similar spirit by concluding that ‘Governments commit themselves to provide capital when needed in appropriate volume while favouring by all available means the raising of private capital.
Na zasedanju Ekonomsko-finančnega sveta 7. oktobra 2008 in srečanju euroskupine 12. oktobra 2008 je bila dokapitalizacija podobno obravnavana, pri čemer je bila sklepna ugotovitev ta, da „se vlade zavezujejo, da bodo po potrebi zagotovile kapital v primernem obsegu, hkrati pa na vse mogoče načine spodbujale pridobivanje zasebnega kapitala.
Financial institutions should be obliged to accept additional restrictions, notably to preclude possible abuse of such arrangements at the expense of non beneficiaries’, and ‘legitimate interest of competitors must be protected, in particular through the State aid rules.’
Finančne institucije bi morale sprejeti dodatne omejitve, zlasti za preprečitev morebitne zlorabe takih ureditev v škodo bank, ki niso upravičene do take obravnave,“ prav tako pa je „treba zavarovati legitimne interese konkurentov, zlasti s pravili o državni pomoči“.
Until December 2008, the Commission approved recapitalisation schemes in three Member States, as well as individual recapitalisation measures, in line with the principles laid down in the so-called Banking Communication [5].
Do decembra 2008 je Komisija v skladu z načeli, določenimi v t. i. Sporočilu o bančništvu [5] odobrila sheme dokapitalizacije v treh državah članicah, pa tudi posamezne ukrepe dokapitalizacije.
Recapitalisation, notably in the form of ordinary and preferred shares, has been authorized, subject in particular to the introduction of market-oriented remuneration rates, appropriate behavioural safeguards and regular review.
Odobrena je bila dokapitalizacija predvsem v obliki navadnih in prednostnih delnic, ki je bila pogojena zlasti z uvedbo tržno naravnanih stopenj nadomestil, ustreznimi zaščitnimi ukrepi v zvezi z ravnanjem in rednim pregledom.
However, as the nature, scope and conditions of recapitalisation schemes currently being envisaged vary considerably, both Member States and potential beneficiary institutions have called for more detailed guidance as to whether specific forms of recapitalisation would be acceptable under State aid rules.
Ker pa se narava, obseg in pogoji za trenutno predvidene sheme dokapitalizacije precej razlikujejo, so države članice in potencialne institucije upravičenke zaprosile za podrobnejše usmeritve glede sprejemljivosti posebnih oblik dokapitalizacije v okviru pravil o državni pomoči.
In particular, some States envisage the recapitalisation of banks, not primarily to rescue them but rather to ensure lending to the real economy.
Nekatere države zlasti predvidevajo dokapitalizacijo bank, pri čemer primarni cilj ni reševanje teh bank, temveč zagotavljanje posojil realnemu gospodarstvu.
The present Guidelines provide guidance for new recapitalisation schemes and opens the possibility for adjustment of existing recapitalisation schemes.
Te smernice dajejo usmeritve za nove sheme dokapitalizacije in odpirajo možnost za prilagoditev veljavnih shem dokapitalizacije.
Common objectives: Restoring financial stability, ensuring lending to the real economy and dealing with the systemic risk of possible insolvency
Skupni cilji: ponovna vzpostavitev finančne stabilnosti, zagotavljanje posojil realnemu gospodarstvu in obravnavanje sistemskega tveganja za morebitno plačilno nesposobnost