natgillin/translations-raw huggingface dataset:
As illustrated above by reference to the two most significant items on the asset side, the opening balance sheet of Landsbankinn was only about 25 % of Landsbanki's balance sheet for 30 June 2008.
Kapital 1. reda banke Landsbankinn je znašal približno 15 %, ko je bila 20. januarja 2010 formalno kapitalizirana.
At the end of 2011, Landsbankinn's total assets amount to 1135 billion ISK.
Organ za finančni nadzor je odobril začasno oprostitev od (splošne) 16-odstotne zahteve, pod pogojem da se predloži sprejemljiv načrt, v katerem je prikazano, kako bo dosežen celotni znesek.
In terms of employees, there has been a reduction of more than 55 % (from 2644 to 1142).
Banka je junija 2010 poročala, da je njen kapital 1. reda presegel 16 %, in na podlagi tega je Organ za finančni nadzor banki Landsbankinn odobril začasno oprostitev od zahteve, da mora imeti kapital 2. reda, ki bo trajala dokler je razmerje njenega kapitala 1. reda nad 16 %.
National legal basis for the aid measure
V sporazum, ki iz tega izhaja, je zajeto izdajanje treh obveznic, denominiranih v EUR, britanskih funtih oziroma ameriških USD, pri čemer je združen skupni znesek enak 260 milijardam ISK, vključena pa je tudi banka Landsbanki (ali dejansko upnike nekdanje banke) s prevzemom začetnega (in morda začasnega) 18,67-odstotnega deleža lastništva banke Landsbankinn [31].
Act No 125/2008 on the Authority for Treasury Disbursements due to Unusual Financial Market Circumstances etc., commonly referred to as the Emergency Act
Banka Landsbankinn se je ob upoštevanju precejšnje negotovosti glede vrednosti prenesenih sredstev strinjala, da bo banki Landsbanki izdala pogojno zamenljivo obveznico (povezano z njeno soudeležbo v kapitalu), katere znesek glavnice se bo določil šele 31. marca 2013 ali po tem datumu.
The Emergency Act gave the FME authority to intervene ‘in extreme circumstances’ and assume powers of financial institutions' shareholders meetings and board meetings, and decide on the disposal of their assets and liabilities.
Ko se določi znesek glavnice pogojno zamenljive obveznice, se lahko celoten delež ali njegov del, ki ga ima v lasti banka Landsbanki, prepusti islandski vladi [32].
The FME was also granted power to appoint resolution committees to financial undertakings that it had taken over, which held the powers of shareholders' meetings.
Jamstvo za vloge
In winding up the institutions, the Act gives priority status to claims by deposit holders and deposit guarantee schemes.
Islandija je za uskladitev z Direktivo 97/9/ES Evropskega parlamenta in Sveta z dne 3. marca 1997 o odškodninskih shemah za vlagatelje [33] in Direktivo 94/19/ES Evropskega parlamenta in Sveta z dne 30. maja 1994 o sistemih zajamčenih vlog [34] sprejela Zakon št. 98/1999 o zajamčenih vlogah in odškodninskih shemah za vlagatelje, v katerem je ustanovila t. i.
The Act also authorised the Icelandic Ministry of Finance to establish new banks.
Jamstveni sklad depozitarjev in vlagateljev.
The Emergency Act includes amendments of the Act on Financial Undertakings, No 161/2002, the Act on Official Supervision of Financial Activities, No 87/1998, the Act on Deposit Guarantees and Investor-Compensation Scheme, No 98/1999, and the Act on Housing Affairs, No 44/1998.
Sklad je bil financiran z letnimi prispevki bank, izračunanimi glede na vse vloge navedene banke.
Supplementary State Budget Act for 2008 (Article 4)
Po navedbah islandskih organov je islandska vlada jeseni leta 2008 nameravala poleg ukrepov za rešitev banke najširši javnosti zagotoviti dodatno jamstvo in občutek, da so bile njihove vloge ob izbruhu krize varne.
State Budget Act for 2009 (Article 6)
Tako so vlogam v domačih komercialnih bankah in hranilnicah zagotovili dodatno državno podporo zunaj področja uporabe Zakona št. 98/1999, s katerim sta se izvajali Direktiva št. 94/19/ES o odškodninskih shemah in Direktiva št. 97/9/ES o odškodninah za vlagatelje.
The aid measures
Iz urada predsednika vlade so 6. oktobra 2008 sporočili, da „islandska vlada poudarja, da bodo vloge v domačih komercialnih bankah in hranilnicah ter njihovih podružnicah na Islandiji v celoti povrnjene“ [35].
The Icelandic authorities' intervention following the failure of Landsbanki has been described above, and was set out in more detail in the opening decision.
V pismu (ki so ga podpisali islandski predsednik vlade, minister za finance, minister za gospodarske zadeve in guverner Centralne banke Islandije) je navedeno: „Za zdaj smo zavezani temu, da v celoti zaščitimo depozitarje, toda ko bo zagotovljena finančna stabilnost, načrtujemo postopno odpravo tega splošnega jamstva“ [37].
The essence of the interventions can be summarised in the following manner:
V oddelku predloga zakona o proračunu za leto 2011 o državnih jamstvih je v opombi sklic na izjavo islandske vlade, da imajo vloge v islandskih bankah državno jamstvo [38].
The FME took control of Landsbanki on 7 October 2008, and domestic liabilities and (most) domestic assets were transferred to New Landsbanki on 9 October 2008.
V nedavni izjavi sedanjega ministra za gospodarske zadeve in nekdanjega ministra za finance (2009–2011) Steingrímurja Sigfússona v razpravi v islandskem parlamentu o stroških vlade v zvezi s tem, da je banka Landsbankinn prevzela banko SpKef, je nadalje pojasnjeno: minister je prepričan, da posameznik glede te zadeve ne sme pozabiti izjave vlade iz jeseni leta 2012, da bodo vse vloge v hranilnicah in komercialnih bankah varne in zaščitene.
The estate of the old bank and its creditors were to be compensated for this transfer by receiving the sum of the difference between assets and liabilities.
„Delo je od tedaj na vseh stopnjah temeljilo na tem (tj. izjavi), a žal je res, da bo to (tj. plačila zaradi banke SpKef) eden večjih računov, ki jih bo poravnala neposredno država kot stroške, s katerimi jamči za vloge vseh prebivalcev Suðurnesa … ter vseh strank banke SpKef iz zahodnih fjordov in zahodnega ter severozahodnega območja … Upam, da ni kdo mislil, da se bodo imetniki vlog z navedenih območij obravnavali drugače kot drugi prebivalci, zato država v tej zadevi ni imela veliko izbire“ [39].
On 15 December 2009 an agreement was reached between the State and the creditors of the old bank, pursuant to which the State took a 81,33 % stake in the bank (by injecting 121,225 billion ISK) whilst the creditors of Landsbanki subscribed to 18,67 % of the new shares.
Reševanje in prenos dejavnosti s hranilnice Spkef na banko Landsbankinn
The compensation of the creditors for the transferred assets depends, according to the agreement between the State and the creditors, mainly on a contigent bond, further described below.
Kapitalski položaj hranilnice Keflavik marca 2009 ni dosegal najnižje zakonsko določene stopnje.
The Authority considers the date on which the agreement was reached — 15 December 2009 — to mark the beginning of the 5 year restructuring period, which will consequently last until 15 December 2014.
Po mnenju islandskih organov so to deloma povzročili učinki prelitja finančnega pretresa, opisanega zgoraj, pa tudi posebno močan učinek gospodarske krize na regije, v katerih je bila banka dejavna.
The following section is limited to describing those aspects of the State's intervention that constitute aid measures relevant for assessment under Article 61 of the EEA Agreement.
Banka je ponujala varčevalne račune in posojila prebivalstvu ter malim in srednjim podjetjem.
Tier I capital
Poleg tradicionalnih finančnih storitev, kot so storitve plačevanja in unovčenja, bančne storitve za stanovanjska združenja, zasebno bančništvo, spletno bančništvo ter storitve bankomatov, je ponujala tudi upravljanje sredstev in posredništvo pri vrednostnih papirjih.
The State provided Tier I capital twice — once, when New Landsbanki was created in 2008, and then again when the bank was fully capitalised in 2009, after an agreement with the creditors of the old bank had been reached.
Glavni sedež banke je bil v Keflaviku, delovala pa je v šestnajstih podružnicah na območju Suðurnes, Zahodnih fjordov, Hvammstangija in Ólafsvika.
Initial capital
Glede na vse vloge finančnih institucij na Islandiji je imela banka približno 3-odstotni tržni delež.
The state provided 775 million ISK [29] (5 million Euros) in cash as initial capital to the new bank.
Potem ko je stopnja kapitalske ustreznosti padla pod zahtevano najnižjo stopnjo, je Organ za finančni nadzor odobril večkratna obdobja podaljšanja, da bi banka v sodelovanju z upniki reorganizirala svoje finance in da bi njena kapitalska osnova dosegla najnižjo 16-odstotno stopnjo.
In addition it issued a commitment to contribute up to 200 billion ISK to the new bank in return for all of its equity.
Minister za finance je naslednjega dne ustanovil novo finančno podjetje – SpKef, ki je v skladu s sklepom Organa za finančni nadzor prevzelo dejavnosti hranilnice Keflavik.
This allocation of capital was intended to provide an adequate guarantee of the operability of the bank until issues relating to its final re-capitalisation could be resolved, including the size of its opening balance based on the valuation of compensation payable to the old bank for assets transferred from it.
Po navedbah islandskih organov naj bi sprva s kapitalskim vložkom za uspešno poslovanje na samostojni podlagi hranilnica SpKef ponovno uspešno poslovala.
The final capitalisation of Landsbankinn
Vendar je upravni odbor hranilnice SpKef februarja 2011 in po nadaljnjem poslabšanju gospodarskih razmer na področjih, na katerih je bila hranilnica SpKef dejavna, ocenil, da finančna razlika med ustreznimi vrednostmi vlog in sredstev znaša 11,2 milijarde ISK, kar je pomenilo, da je bilo za izpolnitev zahtev Organa za finančni nadzor glede stopnje kapitalske ustreznosti potrebnih 19,4 milijarde ISK.
On 20 July 2009 the Icelandic Government announced that it had determined the basis for the capitalisation of Landsbankinn and reached an agreement on a process for how the old banks would be compensated for the transfer of net assets.
Ta ocena je po trditvah islandskih organov prikazala precej slabši rezultat kot so v prejšnjih ocenah, zato so bila za izboljšanje tega položaja proučena druga, cenejša sredstva.
It also announced that the state would capitalise the new bank.
Banka Landsbankinn in islandski organi so 5. marca 2011 dosegli sporazum, po katerem bi se dejavnosti, sredstva in obveznosti hranilnice SpKef združili z banko Landsbankinn.
Final agreement on the capitalisation was reached on 15 December 2009 (eventually to the total sum of 150 billion ISK, of which the state provided 121,225 billion ISK) when agreement was reached on compensation to creditors for the net value of the assets and liabilities transferred to Landsbankinn.
Ker je razmerje kapitalske ustreznosti banke Landsbankinn postalo zadostno za prevzem hranilnice SpKef, ne da bi bil potreben dodaten državni prispevek, je bil to po mnenju islandskih organov najprimernejši ukrep za zaščito finančne stabilnosti ter interesov strank, upnikov in države Islandije.
As described above, the capital requirements imposed by the FME stipulated that Landsbankinn should hold at least 12 % Core Tier I Capital [30] and an additional 4 % of Tier II Capital as a ratio of risk-weighted assets.
Islandski organi trdijo, da je bil zaradi jamstva za vloge v vsakem primeru potreben pobot negativnega stanja sredstev (z obveznostmi v vlogah) hranilnice SpKef.
When Landsbankinn was formally capitalised on 20 January 2010, the Core Tier I Capital ratio of the bank was approximately 15 %.
Torej je sporazum o prevzemu med banko Landsbankinn in državo Islandijo vseboval zavezo države o pobotu negativnega stanja sredstev hranilnice SpKef.
The FME granted temporary relief from the (overall) 16 % requirement conditional upon the submission of an acceptable plan illustrating how the full amount would be achieved.
Vključen je bil poseben mehanizem za določitev te razlike – in zato obsega državne zaveze, v skladu s katerim bi spor predložili arbitražnemu odboru, če se ne bi mogli medsebojno sporazumeti o rezultatu vrednotenja.
In June 2010 the bank reported that its Core Tier I exceeded 16 % and on that basis the FME permanently exempted Landsbankinn from the requirement to hold Tier II capital as long as its Core Tier I ratio remains above 16 %.
Naloga navedenega arbitražnega odbora je bila, da določi razliko med prenesenimi sredstvi in obveznostmi, saj se stranki sporazuma o tem nista mogli sporazumeti.
This agreement followed a lengthy and complex negotiation process resulting in an outline agreement among the parties in a heads of terms on 10 October 2009 and more detailed sets of term sheets in relation to the debt instruments on 20 November 2009.
Svoje delo je zaključil 8. junija 2012 in odločil, da je treba banki Landsbankinn po prenosu vlog in sredstev hranilnice Spkef plačati nadomestilo v višini 19,2 milijarde ISK [40].
There were also a number of subsequent meetings and discussions between the parties during which the outlined terms were modified and reflected in documentation.
Po navedbah islandskih organov bo poravnava opravljena v obliki državnih obveznic.
The resulting agreement comprises the issuance of three bonds denominated in Euros, Pound Sterling and US Dollars, respectively, having an aggregate principal amount equivalent to 260 billion ISK, and also involves Landsbanki (or in effect the old bank's creditors) taking an initial (and potentially temporary) 18,67 % ownership stake in Landsbankinn.
Reševanje in prevzem hranilnice Sparisjodur Svarfdaela
In addition, given the considerable uncertainty about the value of the transferred assets, Landsbankinn agreed to issue to Landsbanki a contingent bond (linked to its equity participation), the principal amount of which will not be determined until on or after 31 March 2013.
Poznejši prevzem s strani banke Landsbankinn je bil opisan in ga je Nadzorni organ odobril v odločbi o hranilnici SpSv.
Following the determination of the principal amount of the contingent bond, all or part of the shareholding held by Landsbanki may be surrendered to the Icelandic government.
Islandska vlada je hranilnici SpSv z izdajo podrejenega dolga aprila 2011 ter s poravnavo terjatev Centralne banke Islandije do te hranilnice odobrila državno pomoč.
[32]
Te terjatve so bile spremenjene v jamstveni kapital, prenesen na Organ za finančne naložbe Republike Islandije.
Deposit guarantee
Ti ukrepi za reševanje so se obravnavali kot začasno združljivi s Sporazumom o EGP na podlagi odločb o hranilnicah glede na predložitev načrta prestrukturiranja hranilnice SpSv.
In order to comply with Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes [33] and Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit guarantee schemes [34], Iceland adopted Act No 98/1999 on deposit guarantees and investor-compensation scheme and thereby set up the so-called Depositors' and Investors' Guarantee Fund (‘TIF’).
Nadzorni organ meni, da je načrt prestrukturiranja banke Landsbankinn primeren za združeni subjekt, saj je banka Landsbankinn prevzela vsa sredstva in dejavnosti hranilnice SpSv, ki so znašale približno 0,311 % sredstev banke na isti dan.
The fund has been financed by annual contributions from the banks, calculated in relation to the total deposits of that bank.
Načrt prestrukturiranja
According to the Iceland authorities in addition to the bank rescue measures of the Icelandic Government of autumn 2008 they intended to give further assurance and comfort to the general public on the safety of their deposits when the crisis struck.
V načrtu prestrukturiranja se obravnavajo bistvena vprašanja uspešnega poslovanja, delitve bremena in omejitve izkrivljanja konkurence.
Thus they provided an additional state backing of deposits in domestic commercial and savings banks, outside the scope of Act No 98/1999 implementing the deposit guarantee Directive 94/19/EC and the investor-compensation Directive 97/9/EC.
Banka Landsbankinn se bo v skladu z načrtom prestrukturiranja osredotočila na svojo osnovno dejavnost ter prestrukturiranje posojilnih portfeljev gospodinjstev in podjetij.
An announcement from the Prime Minister's Office of 6 October 2008 stated that the ‘Government of Iceland underlines that deposits in domestic commercial and savings banks and their branches in Iceland will be fully covered’ [35].
Kot je navedeno, bo po mnenju Nadzornega organa obdobje prestrukturiranja trajalo do 15. decembra 2014.
This announcement has since been repeated by the Office of the current Prime Minister in February and December 2009.
Opis načrta prestrukturiranja
[36] Moreover, reference was made to it in a letter of intent sent by the Icelandic Government to the International Monetary Fund (and published on the website of the Ministry of Economic Affairs and of the IMF) on 7 April 2010 (and repeated in a further letter of intent dated 13 September 2010).
Islandski organi in Centralna banka Islandije menijo, da se bo s prestrukturiranjem banke Landsbankinn zagotovilo, da bo banka spet trdna, da bo imela dovolj sredstev in dobre količnike kapitala, zaradi česar bo lahko še naprej zagotavljala posojila realnemu gospodarstvu.
The letter (which was signed by the Icelandic Prime Minister, Minister of Finance, Minister of Economic Affairs and Governor of the CBI) states that ‘At the present time, we remain committed to protect depositors in full, but when financial stability is secured we will plan for the gradual lifting of this blanket guarantee.’ [37] Furthermore, in the section of the bill for the Budget Act 2011 concerning state guarantees, reference is made in a footnote to the Icelandic government's declaration that deposits in Icelandic banks enjoy a state guarantee.
To se bo na podlagi informacij iz načrta prestrukturiranja in pisanih odgovorov na vprašanja Nadzornega organa doseglo zlasti z:
[38]
zmanjšanjem finančnega vzvoda bilance stanja z likvidacijo nekdanje banke in ustanovitvijo nove banke;
A recent statement of the current Minister of Economic Affairs and former Minister of Finance (2009-2011), Steingrímur Sigfússon in a debate in the Icelandic Parliament regarding the government's cost related to Landsbankinn's taking over SpKef, illustrates the above further: According to the Minister, one must keep in mind regarding this matter the State's declaration in the autumn of 2012 that all deposits in savings banks and commercial banks would be safe and protected.
vzpostavitvijo in ohranjanjem močnega položaja kapitalskega količnika in zdrave bilance stanja;
‘Work has since in all instances been based on this (i.e. the declaration) and it is unfortunately correct that this (i.e. payments due to SpKef) will be one of the bigger bills footed directly by the state as costs for securing the deposits of all inhabitants of Suðurnes … and all SpKef's clients in the West Fjords and the West and North-West area … I do not expect that anyone has thought that deposit holders in those areas would be treated differently from other inhabitants, so the state did not have much of a choice in this matter’.
doseganjem zadovoljive donosnosti;
[39]
vzpostavitvijo in ohranjanjem močnega likvidnostnega položaja;
According to the Icelandic government, the additional deposit guarantee will be lifted before the capital controls are fully abolished, which according to the Icelandic authorities is currently foreseen for the end of 2013.
dokončanjem prestrukturiranja posojilnega portfelja zasebnih gospodinjstev in podjetij;
Rescue and transfer of operations from Spkef to Landsbankinn
izboljšanjem strategije financiranja;
In March 2009 the capital position of Keflavik Savings Bank fell short of the statutory required minimum.
povečanjem stroškovne učinkovitosti;
According to the Icelandic authorities, this was caused in parts by spill-over effects of the financial turmoil that was described above, and also by particular strong impact of the economic crisis on the regions in which the bank was active.
boljšim upravljanjem tveganja.
This bank had offered savings accounts and loans to retail customers and small and medium-sized enterprises.
Pred podrobnejšim opisom vsake od zgornjih točk je v nadaljevanju na kratko pojasnjeno stališče banke o tem, kako se v načrtu prestrukturiranja obravnavajo pomanjkljivosti, ki so prispevale k zlomu banke Landsbanki.
Its headquarters were located in Keflavik and the bank operated sixteen branches in the Suðurnes Area, the West Fjords, Hvammstangi and Ólafsvik.
Islandski organi trdijo, da se o pomanjkljivostih, ki so bile za banko Landsbanki značilne pred zlomom bančnega sistema, podrobneje razpravlja v zgoraj navedenem poročilu posebne preiskovalne komisije.
The bank had about 3 % market share measured in total deposits in financial institutions in Iceland.
Banka poleg tega poudarja, da so propad povzročili zlasti naslednji dejavniki: slabo upravljanje tveganja, prevelik apetit po tveganju, neobičajno tesen odnos med lastniki in največjimi posojilojemalci, prevelika rast v prekratkem obdobju, pomanjkanje izkušenj na svetovnih trgih, popustljiva pravila pri izposojanju, pomanjkanje notranjih pregledov in notranjega nadzora ter pomanjkljiva poslovna kultura in strategija.
After the CAD ratio had fallen below the required minimum, the FME granted repeated extension periods for the bank to reorganise its finances in collaboration with its creditors and bring its capital base to the minimum of 16 %.
Prav tako poudarja, da so bile, odkar je banka Landsbankinn jeseni leta 2008 začela poslovati, narejene ključne spremembe v poslovnem modelu banke, zgoraj navedeni dejavniki pa se uporabljajo kot vodilo pri izvajanju nove strategije in upravljanju banke.
The final deadline for increasing Keflavik Savings Bank's capital base expired on 21 April 2010.
Zdi se, da so poleg dolgega seznama ukrepov za reorganizacijo notranjih delovnih procesov in zamenjavo ključnega osebja, najbistvenejše naslednje spremembe: večja usmerjenost na domače dejavnosti, zlasti na poslovanje s prebivalstvom in mrežo podružnic, močno zmanjšane dejavnosti investicijskega bančništva, poudarek na prestrukturiranju posojilnih portfeljev, revidirano upravljanje tveganja ter večji pomen družbene odgovornosti gospodarskih družb in skladnost z visokimi etičnimi standardi.
In a letter dated 22 April 2010 Keflavik Savings Bank informed the FME that part of the savings bank's creditors had rejected proposals on financial reorganisation and, given the situation of the bank at the time, it was requested that the FME took over the bank's operations.
Čeprav namerava banka Landsbankinn zagotavljati široko paleto finančnih storitev na islandskem trgu, tako kot jih je njena predhodnica, je za banko Landsbankinn razlika med bančništvom pred krizo in po krizi bolj vidna v tem, „kako“ banka posluje (procesi, postopki, dokumentacija, pravila in predpisi), ne pa v tem „kakšno“ vrsto storitev in proizvodov ponuja na Islandiji.
The next day, the Minister of Finance established a new financial undertaking, Spkef, which took over the operations of Keflavik Savings Bank in accordance with a Decision by the FME.
Zmanjšanje finančnega vzvoda bilance stanja z likvidacijo nekdanje banke in ustanovitvijo nove banke
The deposits, part of other liabilities and most of the assets of the savings bank were transferred to the new undertaking which commenced operations immediately.
V skladu z načrtom prestrukturiranja to pomeni, da je bilo vprašanje zmanjšanja finančnega vzvoda bilance stanja v osnovi rešeno že oktobra 2008.
Initially, according to the Icelandic authorities, it had been intended to restore the viability of Spkef by injecting capital and making it viable on a stand-alone basis.
Vzpostavitev in ohranjanje močnega položaja kapitalskega količnika in zdrave bilance stanja