natgillin/translations-raw huggingface dataset:
This policy will only be altered in cooperation with the FME and only if Arion Bank and the FME jointly determine that a sustainable turnaround of the Icelandic economy has been achieved.
Racionalizacija mreže poslovalnic in doseganje stroškovne učinkovitosti
Regarding liquidity, the FME requires that the bank must hold secured liquidity reserves of at least 20 % of deposits and cash reserves of 5 % of on-demand deposits.
Po mnenju banke Arion Bank je v primerjavi s primerljivimi gospodarstvi na islandskem trgu preveč bank.
In addition, the Central Bank of Iceland sets rules on credit institutions' liquidity [63] according to which credit institutions' liquid assets and liabilities are classified by type and maturity and assigned weights according to risk.
Banke bodo morale znižati stroške, če bodo želele ostati konkurenčne.
Credit institutions must have liquid assets in excess of liabilities within one month and after one month and up to three months.
Banka Arion Bank pozornost namenja nadziranju ravni stroškov in meni, da je na čelu prepotrebne racionalizacije v finančnem sektorju.
The rules also entail a certain stress test where a discount is applied to various equity items, but where it is assumed, on the one hand, that all obligations must be paid upon maturity, and on the other, that a portions of other obligations, such as deposits, must be paid at short notice or none at all.
Banka Arion Bank je svoje poslovanje racionalizirala z zmanjšanjem števila zaposlenih in racionalizacijo mreže poslovalnic.
The Bank's liquidity ratios during 2011-2012 are set out in the graph below.
Marca 2011 je bila z združitvijo treh poslovalnic na območju Reykjavíka v eno zaključena racionalizacija mreže poslovalnic.
It is apparent that the Bank has maintained a solid liquidity position, surpassing the requirements of the FME both with respect to the cash ratio requirement and the broader requirement of secured liquidity.
Skupaj je bilo zaprtih 15 poslovalnic in banka trdi, da je preostalih 24 poslovalnic stroškovno učinkovitih in pri tem ohranjajo visoko raven izpolnjevanja potreb uporabnikov.
According to the Bank's plans for 2012-2014, it will maintain a cash ratio between […] — […] % and a liquidity ratio of […] — […] %.
V zvezi z zgoraj navedenimi spremembami je banka svojo delovno silo v letu 2011 zmanjšala za približno 10 %.
The Bank has also complied with the CBI liquidity rules as its liquidity ratios (more than 1 and up to 3 months) at year end 2009-2011 have been in the range of 1,5-2,1.
Raven stroškov je strogo nadzirana in v letu 2011 se je razmerje med stroški in prihodki na ravni matične družbe že znižalo na 45 % in se bo v obdobju 2012-2014 še nekoliko znižalo, in sicer na […] %
Chart 1
Zmožnost doseganja uspešnega poslovanja po osnovnem scenariju in izjemnih situacij
Arion Bank's liquidity ratios 2011-2012
V načrtu prestrukturiranja je bil s sklicevanjem na poročilo o notranji oceni kapitalske ustreznosti predložen scenarij izjemnih situacij za banko Arion Bank, v katerem je bila preučena sposobnost banke doseči dolgoročno uspešno poslovanje v različnih scenarijih in pri različni izpostavljenosti tveganju.
[Graph on Arion Bank's liquidity ratios under FME rules
Osnovni scenarij
While the Basel III liquidity requirements are not yet mandatory, Arion Bank has begun voluntary monitoring of the Liquidity Coverage Ratio (LCR) [64] according to those rules, and at year end 2011 its LCR was […] %.
Scenarij izjemnih situacij
Arion Bank is to a large degree deposit-funded, but steps have been taken to diversify the funding by issuing covered bonds.
Načrt prestrukturiranja vključuje izjemni scenarij, v katerem osnovni scenarij poteka pod predpostavkami „dolgotrajne globoke recesije“, ki temeljijo na smernicah FME.
In November 2011, Arion Bank was granted a license by the FME to issue statutory covered bonds.
Cilj testiranja izjemnih situacij je preveriti, kako bi se dobiček, kreditne izgube, kapitalske zahteve, razpoložljivi kapital/kapitalske rezerve in likvidnostni položaji banke razvijali v izjemnih gospodarskih razmerah.
In February 2012, a EUR 1 billion covered bond program was completed.
Preglednica 6
The funds will be used to finance Arion Bank's mortgage lending.
Glavne predpostavke v scenariju dolgotrajne globoke recesije [65]
It is recalled that at the end of 2011, Arion Bank bought the KMIIF mortgage fund, taking over the outstanding amount 127 billion ISK in covered bonds and continued as the issuer of covered bonds.
Stopnja brezposelnosti
The Bank deems that issuance of covered bonds in the domestic markets will meet the refinancing needs of the Bank and funding of new loans in the period 2012-2016.
Scenarij izjemnih situacij je zasnovan na spremembah gospodarskega okolja, v katerem banka deluje, ki niso verjetne, vendar se lahko zgodijo.
One of the most important tasks facing the Icelandic financial sector was the restructuring of household and corporate debt.
Prav gotovo na banko negativno vplivajo zaostreni pogoji scenarija dolgotrajne globoke recesije, ker se bo njena donosnost lastniškega kapitala zelo znižala.
This is a complex and sensitive issue with a number of financial, economic and ethical considerations.
Kljub temu pa bo ustvarjala manjše dobičke in ker se bo istočasno zmanjšal portfelj posojil in tveganju prilagojena sredstva, se njen kapitalski položaj ne bo poslabšal [67].
According to Arion Bank's submission, restructuring of the loan book has been a high priority and the Bank considers that it has been at the forefront in resolving corporate and household's debt issues and achieved good progress in that regard.
Tudi likvidnostni položaj banke bi ostal precej nad minimalnimi zahtevami.
A corporate recovery unit was set up at the Bank in 2009 and asset management companies were established for the management of foreclosed assets.
dstotna tveganju prilagojena sredstva znašajo […] milijard ISK.
The Bank has introduced a range of customized solutions designed to help households and individual borrowers tackle their debts.
Banka ima kapitalsko osnovo v višini […] milijard ISK in ima tako kapitalsko rezervo v višini […] milijard ISK.
Corporate clients who have been unable to meet their obligations have entered the Bank's debt recovery process.
Ocena kapitala upošteva dejavnike, povezane z izjemno situacijo, vključno z vplivom na portfelj posojil banke.
The objective is to turn insolvent companies into solvent companies with a healthy balance sheet, thus enabling them to take on future business and contribute to the development of the economy.
Glede na poročilo o notranji oceni kapitalske ustreznosti se oddelek banke za upravljanje tveganj ukvarja z ugotavljanjem, ocenjevanjem in merjenjem vseh pomembnih tveganj, s katerimi se banka sooča in tveganja razvršča v štiri razrede: kreditno tveganje (vključno s tveganjem koncentracije), tržno tveganje, operativno tveganje in druga tveganja (vključno z likvidnostnim tveganjem, poslovnim tveganjem ter političnim in pravnim tveganjem).
At the end of 2011, 986 companies had entered the Bank's corporate recovery programs, and conclusion was reached in 871 instances.
V preglednici 7 so prikazani različni dejavniki tveganja, upoštevani pri oceni kapitala.
In the Bank's view, the corporate debt restructuring is expected to be largely completed by the end of 2012.
Preglednica 7
As for the restructuring of household debt, more than 14000 personal customers have taken advantage of the Bank's debt solution packages, including the special debt relief programme.
Rezultati poročila o notranji oceni kapitalske ustreznosti glede ocene kapitala, zneski v milijardah ISK
At the end of 2010, the Bank has also set up a dedicated debt advisory service for personal customers.
Kapitalska zahteva (steber I)
In the Bank's view, this arrangement was important, given the high number of difficult debt recovery cases to be dealt with.
Koncentracija za eno samo izpostavljenost
The Bank aims to complete its household debt restructuring in 2012.
Sektorsko združevanje
The goal of the debt recovery programs is to improve asset quality.
Obrestno tveganje v bančni knjigi
The share of non-performing loans has fallen from 37 % at the end of 2010 to 13 % at the end of 2011.
Valutno tveganje razreda C,D,E
At the end of 2011, 56 % of the loans in the loan book were categorised as performing, 18 % were ‘on watch’, 13 % sub-performing and 13 % non-performing.
Davčni organi
Foreign exchange (FX) loans in the loan portfolio are divided into FX/FX loans and FX/ISK loans.
Tveganja v zvezi z vrednotenjem – portfelj posojil
FX/FX loans are loans where the customers generate FX income but the FX/ISK loans are loans in FX where the customers generate ISK income.
Steber II Ocena kapitala
The Bank's FX imbalance is mainly due to the FX/ISK part.
Skupaj ocena kapitalske ustreznosti (steber I + steber II)
During 2010 and 2011 the Bank has made progress toward lowering its FX imbalance.
16 % tveganju prilagojenih sredstev
The imbalance will continue to decrease during 2012 with redenomination of foreign currency loans to individuals into ISK as well as actions taken to encourage companies with limited foreign currency income to re-denominate their loans into ISK.
Skupaj kapitalska osnova
There is still a legal uncertainty regarding the FX loans, but the Bank aims to reduce the FX/ISK imbalance so that by the end of 2012 the imbalance will be within CBI requirements.
Kapitalske rezerve
Rationalization of the branch network and achieving cost efficiency
Strategija banke pri zmanjševanju valutnih neravnovesij je po eni strani sistemska ponovna pretvorba valutnih posojil v ISK za stranke, ki imajo prihodek v ISK, in po drugi strani varovanje valutnih neravnovesij pred tveganjem prek sporazumov s CBI in prek valutnih zamenjav z islandskimi strankami.
Banks will be forced to reduce cost to remain competitive.
To je posledica dejstva, da dospelost posojil presega dospelost vlog.
Arion Bank has focused on controlling its cost levels and considers that it has been at the forefront of the much needed rationalization within the financial sector.
Strategija banke je skrbno spremljanje likvidnostnega položaja in podaljšanje dospelosti na strani obveznosti prek natančne analize stabilnosti vlog [68] in razpršenost financiranja.
Arion Bank has streamlined the business by reducing the number of employees and rationalising the branch network.
Po notranjih zahtevah banke zavarovani likvidnostni količnik ne sme pasti pod […] % vlog, najnižje denarno razmerje pa mora biti […] %, ali nekoliko nad zahtevami FME, in sicer 20 % za zavarovani likvidnostni količnik in 5 % za denarno razmerje.
In March 2011 the rationalisation of the branch network was completed when three branches in the Reykjavík area were merged into one.
Kot je razvidno iz Diagrama 1, je bila banka znatno nad FME in notranjimi merili uspešnosti.
A total of 15 branches have been closed and the remaining network of 24 branches is, according to the Bank, cost efficient while maintaining a high level of attention to customer needs.
Banka je testirala svojo likvidnost v izjemni situaciji prek analize obsega vlog strank, v kateri so bile vloge glede na stabilnost razvrščene v sedem skupin.
In relation to the above changes the Bank has reduced its workforce by approximately 10 % during 2011.
Vendar je banka pripravila načrt ukrepov ob nepredvidljivih dogodkih, če bi prišlo do krize financiranja in bi med drugim […].
Cost levels have been kept under firm control and the cost-to-income ratio is already down to 45 % at parent company level in 2011 and will be improved slightly further in 2012-2014, down to […] %.
Izstopna strategija/vračilo državi
Ability to reach viability under a base and stress scenario
Po navedbah islandskih organov bi to povečanje moralo banko spodbujati, da do takrat znesek vrne.
In the restructuring plan, with reference made to the ICAAP report, a stress scenario has been submitted for Arion Bank examining the Bank's ability to achieve long-term viability under different scenarios and risk exposures.
Glede 13-odstotnega lastniškega deleža, ki ga država zadrži v banki Arion Bank, deleže vlade v finančnih podjetjih upravljajo Finančne naložbe islandske države (ISFI) [69].
The base scenario
Po državnem proračunu za leto 2012 je država dobila pooblastilo, da proda deleže, ki jih ima v hranilnicah, vendar še ni bilo sklepa glede prodaje državnih deležev v treh največjih komercialnih bankah.
The restructuring plan as described above including the assumptions on which it is based constitutes the base case.
Odgovorni ministri pa so ustanovili delovno skupino, ki bo preučila možne načine odsvojitve deležev v komercialnih bankah.
The stress case scenario
Vlada je navedla, da nima namena zmanjšati svojih deležev v banki Landsbankinn pod dve tretjini osnovnega kapitala banke, deleži v bankah Arion Bank in Íslandsbanki pa bi bili lahko kmalu dani v prodajo ali prodani z bankami v celoti, če se bodo večinski lastniki odločili za prodajo, pod pogojem, da bodo izpolnjeni nekateri predpogoji.
The restructuring plan includes a stress case scenario where the base case is run under the ‘Prolonged Deep Recession’ (PDR) assumptions, which are based on guidelines from FME.
Posebno likvidnostno posojilo je na voljo samo do 31. decembra 2014, ko zapade tudi obveznica hranilnice SPRON.
The objective of the stress test is to examine how earnings, credit losses, capital requirements, available capital/capital buffers and liquidity positions of the Bank would evolve under stressed economic conditions.
RAZLOGI ZA ZAČETEK FORMALNEGA POSTOPKA PREISKAVE
The difference is that assumptions in the PDR scenario for 2009 are now assumptions for the year 2012 and so on.
Nadzorni organ je v sklepu o začetku postopka predhodno ugotovil, da ukrepi islandske države za kapitalizacijo banke Arion Bank in likvidnostno posojilo vključujejo državno pomoč na podlagi člena 61 EGP.
The assumptions are summarised in Table 6 below.
Poleg tega ni mogel izključiti, da je bila državna pomoč prisotna tudi v jamstvu za hranilne vloge.
Table 6
Nadzorni organ bo končno mnenje o teh ukrepih, ki še vedno vplivajo na obravnavano oceno, izrazil v tej odločbi.
Main assumptions in Prolonged Deep Recession scenario [65]
Pripombe zainteresiranih strani
Unemployment rate
Nadzorni organ je prejel izjavo v imenu upnikov nekdanje banke, v kateri so poudarili, da želijo biti obravnavani kot zainteresirane strani in navedli, da bodo pozneje verjetno predložili dodatne pripombe.
The stress scenario is designed against the background of unlikely but potentially plausible changes in the economic environment in which the Bank operates.
Pripombe islandskih organov
It will nevertheless make small profits and as the Bank's loan book and risk-weighted assets will shrink at the same time, its capital position will not be adversely affected [67].
Islandski organi pa menijo, da so ukrepi združljivi z delovanjem Sporazuma EGP na podlagi člena 61(3)(b), ker so potrebni, sorazmerni in primerni za odpravljanje resne motnje v gospodarstvu Islandije.
The Bank's liquidity position would also remain well above the minimum requirements.
Islandski organi menijo, da so sprejeti ukrepi z vseh vidikov skladni z načeli, določenimi v smernicah Nadzornega organa o državni pomoči.
The ICAAP report is based on financial figures from 31 December 2011.
Trdijo tudi, da je pomoč potrebna in omejena na najmanjši potrebni znesek.
Its main result is that it is the Bank's assessment that a capital of […] billion ISK is needed to cover the Bank's risk exposure, based on Pillar I and II.
Poleg tega islandski organi poudarjajo, da so nekdanji delničarji banke Kaupthing Bank izgubili vse svoje delnice in od države niso prejeli nobenega nadomestila, da je bila pomoč namenjena kar največjemu zmanjšanju negativnega učinka prelitja na konkurente in da so bili pogoji posojil (kapital razreda 2) primerljivi s tržnimi stopnjami.
16 % of risk-weighted assets (RWA) amounts to […] billion ISK.
Islandski organi menijo, da jamstvo za hranilne vloge ne vključuje državne pomoči.
The Bank has a capital base of […] billion ISK and therefore holds a capital buffer of […] billion ISK.
Zaveze islandskih organov
The capital assessment takes into consideration stress related factors, including the impact on the Bank's loan book.
Islandski organi so predložili več zavez, ki se večinoma nanašajo na izkrivljanje konkurence, ki ga je povzročila pomoč, ki se ocenjuje.
Table 7
PRISOTNOST DRŽAVNE POMOČI
ICAAP results regarding capital assessment, amounts in billion ISK
Člen 61(1) Sporazuma EGP se glasi:
Single name concentration
Nadzorni organ bo v nadaljevanju ocenil naslednje ukrepe [70]:
Sector concentration
ustanovna obratna sredstva, ki jih je islandska država zagotovila novi banki;
Interest rate risk in the banking book
(začasno) popolno državno kapitalizacijo nove banke;
Foreign exchange risk class C,D,E
država je obdržala 13 % osnovnega kapitala, ki je ostal po tem, ko je bilo 87 % osnovnega kapitala nove banke prenesenega na upnike banke Kaupthing; in
Tax authorities
država je novi banki zagotovila kapital razreda 2 v obliki podrejenega posojila.
Valuation risk — unlisted equities
Zgoraj navedeni ukrepi se v nadaljevanju skupaj imenujejo „ukrepi za kapitalizacijo“.
Valuation risk — loan book
Poleg tega bo Nadzorni organ ocenil:
Pillar II Capital Assessment
sporazum o posebnem likvidnostnem posojilu;
Total capital adequacy assessment (Pillar I+II)
posel zamenjave SPRON;
16 % of RWA
izjavo islandske vlade, da v celoti jamči za domače vloge v vseh islandskih bankah.
Capital Buffer
Kot je Nadzorni organ že predhodno ugotovil v sklepu o začetku postopka, je jasno, do so ukrepi za kapitalizacijo financirani prek državnih sredstev, ki jih je zagotovila islandska državna blagajna.
The ICAAP report states that although much progress has been made in curtailing the large imbalance between foreign currency denominated loans to customers and Icelandic currency denominated deposits, work remains in order to eliminate the remaining imbalance in 2012.
Državna sredstva so očitno prisotna tudi v likvidnostnem posojilu, ki je bilo na voljo banki Arion Bank.
At the end of 2011, the imbalances still exceeded the legal limit and dispensation from the CBI was necessary.
Glede posla zamenjave SPRON je država prevzela tveganje, da sredstva SPRON/Drómi ne bodo zadostovala za kritje prenesenih obveznosti (vlog) hranilnice SPRON.
The Bank's strategy for reducing its currency imbalance is on the one hand the systemic ISK redenomination of currency loans to customers who have income in ISK, and on the other hand the hedging of currency imbalances through agreements with the CBI and through currency swaps with Icelandic customers.
V bistvu je jamčila, da bo nadomestila primanjkljaj, kar bi povzročilo (možen) prenos državnih sredstev.
Liquidity risk is one of the Bank's most important risk factors.
Glede jamstva za hranilne vloge Nadzorni organ na začetku poudarja, da je njegova ocena omejena na zgoraj navedeno dodatno jamstvo za hranilne vloge, ki v bistvu obsega izjavo islandske vlade, da bodo vloge v domačih komercialnih bankah in hranilnicah ter v njihovih poslovalnicah na Islandiji v celoti krite.
This stems from the fact that the maturity of loans exceeds the maturity of deposits.
Ta ocena ne vpliva na stališče Nadzornega organa o združljivosti Zakona št. 98/1999 in ukrepanje islandske vlade in TIF med finančno krizo s pravom EGP, zlasti z Direktivo 94/19/ES.
It is the Bank's strategy to closely monitor its liquidity position and to lengthen the maturity on the liability side, through careful analysis of the stickiness of deposits [68] and diversification of its funding.
Glede izvajanja direktiv 97/9/ES in 94/19/ES Nadzorni organ meni, da kolikor ti ukrepi pomenijo državno pomoč, uporaba državnih sredstev za izpolnitev obveznosti na podlagi prava EGP na splošno ne povzroča skrbi na podlagi člena 61 EGP.
According to the Bank's internal requirements, the secured liquidity ratio should not go under […] % of deposits and the minimum cash ratio should be […] % or slightly above the FME requirements, which are 20 % for the secured liquidity ratio and 5 % for the cash ratio.
Ta odločba zato teh ukrepov ne obravnava.
As can be seen on Chart 1 above, the Bank has remained well above the FME and internal benchmarks.
Nadzorni organ je v sklepu o začetku postopka navedel, da bo dodatno preučil, ali so zgoraj navedene izjave islandske vlade dovolj natančne, trdne, brezpogojne in pravno zavezujoče, da vključujejo zavezo glede državnih sredstev [71].
Through an analysis of its deposit base, where deposits are rated into seven groups according to stickiness, the Bank has stress tested its liquidity.
Nadzorni organ pri ocenjevanju, ali so merila izpolnjena, ugotavlja, da so izjave pomenile nepreklicno zavezo javnih sredstev, kot kaže dejstvo, da je islandska vlada naredila vse, da bi zaščitila vlagatelje: Ne samo, da je spremenila prednost imetnikov vlog v plačilno nesposobnih podjetjih v stečaju (ki ne bi pomenila uporabe državnih sredstev), ampak je tudi jasno poudarila, da ne bo dovolila, da bi vlagatelji utrpeli kakršno koli škodo.
Assuming that the capital controls would be lifted immediately, the Bank's secured liquidity ratio would […].
Splošno jamstvo vlade za vse vloge v domačih komercialnih bankah in hranilnicah se tudi razlikuje od drugih sistemov zajamčenih vlog na podlagi aktov EGP, ker je zaščita neomejena glede zneska in banke, ki imajo koristi od ukrepa, niso dale nobenega finančnega prispevka.
The cash ratio would […].
Državni posegi v finančni sektor od oktobra 2008, ki so bili izvedeni zaradi spoštovanja te izjave, kažejo, kako je islandska vlada razumela svojo izjavo.
However, the Bank has formulated contingency plans to address a potential funding crisis, and would among other things […].
Ti posegi so vključevali ukrepe za kritje vlog finančnih podjetij, kot je ustanovitev treh komercialnih bank, prenos vlog hranilnice SPRON na banko Arion Bank, prenos vlog Straumur na banko Íslandsbanki, prevzem vlog petih hranilnic na Sparisjódabanki Íslands s strani CBI, prenos vlog v hranilnici Byr na Byr hf, prenos vlog iz hranilnice Keflavík na SpKef in državna odgovornost za vloge v SpKef po prisilni združitvi z banko Landsbankinn.
Exit strategy/repayment of the State
Islandski organi so v več primerih državne pomoči, ki jih Nadzorni organ trenutno preiskuje in nekateri so bili omenjeni zgoraj, trdili, da je bil zadevni izbrani ukrep finančno najmanj obremenjujoča možnost za islandsko državo, da izpolni svojo obljubo, da bi v celoti zaščitila vlagatelje.
As already described above, the Tier II capital contribution has 10 year duration from 30 December 2009.
Ob upoštevanju zgoraj navedenega Nadzorni organ meni, da je vzpostavljen pravno zavezujoč, natančen, brezpogojen in trden ukrep.
As for the remuneration, there is a built in step-up clause after 5 years (i.e. 2014), from 400bp to 500bp over EURIBOR.
Na tej podlagi Nadzorni organ ugotavlja, da izjave islandske države, v skladu s katerimi so vloge v celoti zajamčene, pomenijo zavezo glede državnih sredstev v smislu člena 61 EGP.
According to the Icelandic authorities, this step-up should act as an incentive for the bank to pay back this capital as from this time.
Dajanje prednosti posameznim podjetjem ali proizvodnji posameznega blaga
As for the 13 % equity stake that the State retains in Arion Bank, the Government's holdings in financial undertakings are managed by the Icelandic State Financial Investments (the ISFI) [69].
Prednost
According to the State Budget for 2012, the Government has been authorised to sell the stakes that it currently holds in savings banks, but no decision has yet been made regarding sale of state holdings in the three major commercial banks.
Prvič, ukrep pomoči mora novi banki prinesti ugodnosti, na podlagi katerih je oproščena dajatev, ki običajno bremenijo njen proračun.
A working group has however been established by the responsible ministers to explore possible ways of disposing of shareholdings in the commercial banks.
V skladu s predhodno ugotovitvijo iz sklepa o začetku postopka Nadzorni organ vztraja pri stališču, da vsak od ukrepov za kapitalizacijo novi banki prinese ugodnosti, ker kapital, ki je bil zagotovljen, banki ne bi bil na voljo brez posega države.