natgillin/translations-raw huggingface dataset:
EN 22 1 2020 Official Journal of the European Union C 22/5 ACRONYMS AND ABBREVIATIONS Acronym or abbreviation Explanation BPE Banco Popular Espaol S A CFREU Charter of Fundamental Rights of the European Union CJ Court of Justice (Part of the Court of Justice of the European Union) CJEU Court of Justice of the European Union FOLTF Failing or likely to fail FROB Fondo de Reestructuracin Ordenada Bancaria (Spanish National Resolution Authority) GC General Court (Part of the Court of Justice of the European Union) NRA National Resolution Authority NCWO No creditor worse off SRB Single Resolution Board SRF Single Resolution Fund SRM Single Resolution Mechanism SRM Regulation Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ L 225, 30 7 2014, p 1) TFEU Treaty on the Functioning of the European Union 
SV 22.1.2020 Europeiska unionens officiella tidning C 22/5 AKRONYMER OCH F RKORTNINGAR Akronym eller frkortning Frklaring Óinte smre villkor fr borgenrÓ principen Óinte smre villkor fr borgenr n vid normala insolvensfrhllandenÓ BPE Banco Popular Espaol SA. domstolen domstolen (en av de tv delarna av Europeiska unionens domstol) EU-domstolen Europeiska unionens domstol EUF-frdraget frdraget om Europeiska unionens funktionsstt FROB Fondo de Reestructuracin Ordenada Bancaria (den spanska nationella resolutionsmyndigheten) SRB Gemensamma resolutionsnmnden SRF den gemensamma resolutionsfonden SRM den gemensamma resolutionsmekanismen SRM-frordningen Europaparlamentets och rdets frordning (EU) nr 806/2014 av den 15 juli 2014 om faststllande av enhetliga regler och ett enhetligt frfarande fr resolution av kreditinstitut och vissa vrdepappersfretag inom ramen fr en gemensam resolutionsmekanism och en gemensam resolutionsfond och om ndring av frordning (EU) nr 1093/2010 (EUT L 225, 30.7.2014, s.
EN 22 1 2020 Official Journal of the European Union C 22/7 Box 1 Definition of a contingent liability A contingent liability is: a possible obligation that arises from past events and of which the existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the European Union, or a present obligation that arises from past events but is not recognised because it is not probable that an outflow of resources embodying economic benefits or service potential will be required to settle the obligation, or because the amount of the obligation cannot be measured with sufficient reliability 7 To determine if a contingent liability needs to be disclosed or a provision recognised, the probability of an outflow of resources must be assessed If a future outflow of resources is: Ń certain, a liability needs to be recognised; Ń probable, a provision needs to be recognised; Ń possible, a contingent liability needs to be disclosed; Ń remote, no disclosure is necessary 8 The SRB, the Commission and the Council have further specified these probabilities in their respective accounting policies In line with market practices, the SRB and the Council defined ÔremoteŐ as a probability of less than 10 % and therefore ÔpossibleŐ as between 10 % and 50 % (see Table 1) In contrast, the Commission defined ÔremoteŐ as a probability of less than 20 % and consequently ÔpossibleŐ as between 20 % and 50 % Table 1 Probabilities defined by the relevant EU bodies Remote Possible Probable <10% ł10%to˛50% >50%to<100% <20% ł20%to˛50% >50%to<100% <10% ł10%to˛50% >50%to<100% EU body SRB Certain 100 % 100 % 100 % Commission Council Source: Accounting practices of the SRB, the Commission and the Council 9 The audit evidence consisted of information gathered through meetings and interviews with staff and by reviewing, inter alia, documentation at the SRB and Commission, documentation from the SRBŐs private external auditor (9) and representation letters from external lawyers, as well as publicly available data 10 As at 21 June 2019, there were ongoing judicial proceedings against the SRB and the Commission in relation to their tasks under the SRM Regulation (see Table 2) There were no ongoing judicial proceedings against the Council To audit related contingent liabilities, we selected a sample of court cases pending in front of the EU courts and reviewed the relevant case files (9) Based on Article 104(1) Commission Delegated Regulation (EU) 2019/715, a private external auditor shall verify the annual accounts The ECA shall consider the audit work performed by the private external auditor for preparing its specific annual report on the Union body as required by Article 287(1) TFEU 
2. 3. 5. 21.
EN 22 1 2020 Official Journal of the European Union C 22/9 Picture 1 Budget of the Single Resolution Board Source: ECA based on Regulation (EU) No 806/2014 15 As the following paragraphs refer to legal proceedings at the Court of Justice of the European Union (CJEU) (see Picture 2), it is important to recall the structure and working arrangements at the CJEU The CJEU consists of two courts: the Court of Justice (CJ) and the General Court (GC) Within the CJ, Advocates General are assigned cases and provide their opinions in order to support the CJ in its deliberations Picture 2 Composition of the Court of Justice of the European Union Source: ECA 
2. 14. (12) Se artikel 76 i SRM-frordningen. 21.
EN C 22/10 Official Journal of the European Union 22 1 2020 16 The GC was established to ease the burden on the CJ and mainly hears cases brought by individuals and companies against EU acts and regulatory acts which concern them directly, as well as actions seeking compensation for damages caused by EU institutions, bodies, offices or agencies Judgments of the GC can be appealed before the CJ within two months, but are limited to points of law 17 The contingent liabilities disclosed by the SRB, as well as issues relevant to potential contingent liabilities, are set out in the following paragraphs Contingent liabilities related to judicial proceedings following resolution decisions 18 On 7 June 2017 the first, and so far only, resolution at EU level took place for Banco Popular Espaol S A (BPE) The SRB adopted the resolution scheme and the Commission endorsed it BPE had been assessed as failing or likely to fail (FOLTF) The SRB concluded that there was no reasonable prospect that any alternative private sector measures could prevent BPEŐs failure, and that resolution was in the public interest This saw the write-down and conversion of capital instruments and the sale of the bank for Ű1 (see Box 2) Box 2 Summary of the main elements of the SRBŐs resolution decision concerning Banco Popular Espaol S.A. 
2. Tribunalen inrttades fr att avlasta domstolen och behandlar frmst ml som rr talan som vckts av enskilda och fretag mot EU-rttsakter och regleringsakter som direkt berr dem, och talan i syfte att f ersttning fr skada som orsakats av EU:s institutioner, organ eller byrer. 21.
22 1 2020 Official Journal of the European Union C 22/15 36 The SRB then began a Ôright to be heardŐ process (32) for affected creditors and shareholders (see Picture 6) This allowed registered parties, or their representatives, to submit written comments between 6 and 26 November 2018, in respect of the preliminary decision not to grant them compensation and its underlying reasoning The SRB stated that it is currently reviewing comments received from around 12 000 registered individual parties (33) and will take them into account as appropriate in order to take its final decision on whether compensation is payable to those affected Picture 6 NCWO process timeline for Banco Popular Espaol S.A. Source: ECA 37 Since there is no final decision on compensation, in its 2018 accounts the SRB did not disclose contingent liabilities related to the NCWO principle Contingent liabilities related to banksŐ contributions to the Single Resolution Fund 38 Banks in the euro area are legally obliged to contribute to the SRF (see Box 4) Box 4 The Single Resolution Fund (SRF) Based on Article 41(2a) Charter of Fundamental Rights of the European Union SRB annual report 2018, p 32 The target level of the SRF is at least 1 % of the total amount of covered deposits in the Banking Union by the end of 2023 Based on covered deposits at the end of 2018, this would amount to about Ű60 billion To reach the target, annual contributions were collected from 3 186 banks in 2019, amounting to Ű7,8 billion As of July 2019, the total amount collected is just under Ű33 billion Source: SRB (32) (33) EN 
Drefter inledde Gemensamma resolutionsnmnden ett frfarande fr att lta berrda borgenrer och aktiegare utva rtten att yttra sig (32) (se bild 6). Det innebar att registrerade parter eller deras fretrdare under perioden 6Đ26 november 2018 fick inkomma med skriftliga synpunkter p det preliminra beslutet att inte bevilja dem ersttning och bakgrunden till det beslutet. Gemensamma resolutionsnmnden har uppgett att den fr nrvarande granskar de mottagna synpunkterna frn cirka 12 000 registrerade enskilda parter (33) och kommer att beakta dem p lmpligt stt i sitt slutliga beslut om huruvida ersttning ska betalas ut till berrda parter.
EN C 22/16 Official Journal of the European Union 22 1 2020 39 The ex-ante contributions for the year 2015 were calculated and collected by NRAs and transferred to the SRB in January 2016 The annual ex-ante contributions are adjusted over the years until 2023 through deductions for amounts already paid in 2015 Some NRAs did not transfer the 2015 contributions to the SRF in full, due to national resolution actions before the end of 2015 40 Since 2016, the SRB has calculated the contributions itself, in close cooperation with NRAs The contribution per bank is calculated based on a flat contribution and a risk-adjusted contribution for larger banks The required information is provided by the banks via NRAs The SRB provides every NRA with a standard form containing all related information for each bank under its remit, including the amount of ex-ante contributions to be paid, the details of the calculation, and the bankŐs input data BasedonthecalculationprovidedbytheSRB,NRAscollectthecontributionsandtransfertheamountstotheSRF,which is managed by the SRB (see Picture 7) Picture 7 Ex-ante contribution collection process with legal remedies Source: ECA based on the legal framework 41 A number of banks have brought administrative or court proceedings against the decisions on their ex-ante contributions, in a total of four Member States Most banks brought such actions against the relevant NRA notification (34), as it is the legal basis for their payment As a result, there were 625 administrative or court proceedings against ex-ante contributions pending (34) Depending on the legal framework in participating Member States, NRAs notify banks through administrative acts, decisions or notifications 
Ngra nationella resolutionsmyndigheter frde inte ver hela bidragen fr 2015 till den gemensamma resolutionsfonden p grund av nationella resolutionstgrder fre utgngen av 2015.
EN 22 1 2020 Official Journal of the European Union C 22/21 66 However, there are still uncertainties related to the effect of legal challenges at national and EU level (see paragraph 42) In the absence of legal certainty, the SRB has improved its internal control framework for monitoring national cases Nevertheless, three of the four NRAs informed the SRB that they were unable to assess the likelihood of an outflow of resources as result of national proceedings against NRAsŐ decisions regarding ex-ante contributions Although these three NRAs stated that they could not assess the probability, the SRB did not disclose any contingent liabilities concerning these cases (see paragraph 44 and 45) Recommendation 2 Disclosure of contingent liabilities related to cases at national level This Report was adopted by Chamber IV, headed by Mr Alex Brenninkmeijer, Member of the Court of Auditors, in Luxembourg at its meeting of 12 November 2019 For the Court of Auditors Klaus-Heiner LEHNE President If the probability of an outflow of resources cannot be estimated due to legal proceedings against ex-ante contributions, then an outflow cannot be excluded and a contingent liability should be disclosed This recommendation is subject to developments in relation to judicial proceedings (see paragraph 42) Timeframe: Presentation of the SRB accounts for 2019 
Det rder dock fortfarande oskerhet kring effekterna av de rttsliga frfarandena p nationell niv och EU-niv (se punkt 42). I avsaknad av rttslig skerhet har Gemensamma resolutionsnmnden frbttrat sin interna kontrollram fr vervakning av nationella ml. Tre av de fyra berrda nationella resolutionsmyndigheterna informerade dock Gemensamma resolutionsnmnden om att de inte kunde bedma sannolikheten fr ett utflde av resurser till fljd av nationella frfaranden mot de nationella resolutionsmyndigheternas beslut om frhandsbidrag.
EN C 22/22 Official Journal of the European Union 22 1 2020 Year Recommendation Status Detail 2017 The SRB should establish a detailed accounting guidance The accounting guidance should also deal with the provisioning of legal costs Completed Completed The SRB has established internal accounting guidance based on the relevant standards The SRB should introduce a suitable process including an IT system, which will ensure 2017 that all kinds of contingent liabilities are properly accounted for and reported The NRAs While the SRB does not yet have a specific IT system in place, instead it has established an internal control system to ensure adequate information from NRAs should have access to this IT system to record the contingent liabilities accordingly Due to the increase in the number of contingent liability cases and their complexity, the 2018 ECA reiterates its recommendation from last yearŐs report The SRB should finalise and approve its draft accounting guidance The accounting guidance should be applied in full Completed The SRB has approved and applied its accounting guidance for administrative appeals and court cases for its 2018 accounts and should include the provisioning or disclosure of legal costs Based on available data such as quantifiable claims, court rulings and historical data, 2018 the SRB and the Commission should thoroughly re-assess the situation for their 2018 accounts This assessment should be done in line with EU accounting rule 10: ÔProvisions, Completed The SRB has adjusted its approach to provide a more precise estimate of contingent liabilities arising from legal cases related to ex-ante contributions The Commission assessed its contingent liabilities based on the available information However, there is still no case law related to the specific claims contingent labilities and contingent assetsŐ In line with internal control standards, the SRB should establish adequate procedures and 2018 controls to ensure the accuracy, completeness and timeliness of information received from NRAs Furthermore, it should ensure that there is an adequate audit trail, so that Completed The SRB has provided adequate guidance and templates to NRAs for them to assess the relevant amounts at risk the ECA can perform its mandatory audit tasks ANNEX Follow-up of previous yearŐs recommendations 
Tidsram: Redovisningen av Gemensamma resolutionsnmndens rkenskaper fr 2019 SV C 22/22 Europeiska unionens officiella tidning 22.1.2020 r Rekommendation Status Nrmare detaljer Gemensamma resolutionsnmnden br upprtta en detaljerad vgledning 2017 fr redovisning.
EN C 22/24 Official Journal of the European Union 22 1 2020 AUDIT TEAM Based on Article 92(4) of Regulation (EU) No 806/2014, establishing the Single Resolution Mechanism, the ECA shall report each year on any contingent liabilities arising as a result of the performance by the Single Resolution Board, the Commission and the Council of their tasks under this Regulation This report was produced by Audit Chamber IV Regulation of markets and competitive economy, headed by ECA Member Alex Brenninkmeijer The audit was led by ECA Member Ildik Gll-Pelcz, supported by Zoltn Lovas, Head of Private Office; Joanna Metaxopoulou, Director; Zacharias Kolias, Principal Manager; Matthias Blaas, Head of Task; Shane Enright, Carlos Soler Ruiz, Auditors; Andreea-Maria Feipel-Cosciug, Legal Advisor 
SV C 22/24 Europeiska unionens officiella tidning 22.1.2020 GRANSKNINGSTEAM I enlighet med artikel 92.4 i frordning (EU) nr 806/2014 om inrttandet av den gemensamma resolutionsmekanismen ska revisionsrtten varje r rapportera om eventuella ansvarsfrbindelser som uppstr till fljd av Gemensamma resolutionsnmndens, kommissionens och rdets utfrande av sina uppgifter enligt den frordningen. Denna rapport producerades av revisionsrttens avdelning IV marknadsreglering och en konkurrenskraftig ekonomi, dr ledamoten Alex Brenninkmeijer r ordfrande.
Report pursuant to Article 92 (4) of Regulation (EU) No 806/2014 on any contingent liabilities (whether for the Single Resolution Board, the Council, the Commission or otherwise) arising as a result of the performance by the Single Resolution Board, the Council and the Commission of their tasks under this Regulation together with the replies of the Single Resolution Board, the Council and the Commission 12, rue Alcide De Gasperi - L - 1615 Luxembourg T (+352) 4398 Đ 1 E eca-info@eca.europa.eu eca.europa.eu 
Rapport i enlighet med artikel 92.4 i frordning (EU) nr 806/2014 om eventuella ansvarsfrbindelser (oavsett om det gller den gemensamma resolutionsnmnden, rdet, kommissionen eller p annat stt) som uppstr till fljd av den gemensamma resolutionsnmndens, rdets och kommissionens utfrande av sina uppgifter enligt denna frordning med den gemensamma resolutionsnmndens, rdets och kommissionens svar 12, rue Alcide De Gasperi - L - 1615 Luxemburg T +352 4398 Đ 1 E eca-info@eca.europa.eu eca.europa.eu
The Single Resolution Mechanism (SRM), established by Regulation (EU) No 806/2014 (SRM Regulation)1, is a main pillar of the EUŐs banking union complementing its Bank Recovery and Resolution Directive in participating Member States. 
Den gemensamma resolutionsmekanismen, som inrttades genom frordning (EU) nr 806/20141, r en huvudpelare i EU:s bankunion och kompletterar direktivet om terhmtning och resolution av banker i de deltagande medlemsstaterna.
When banks, which are covered by the SRM2, fail or are likely to fail, the mechanism aims to manage their resolution effectively through a Single Resolution Board (SRB) and a Single Resolution Fund (SRF), financed by the banking sector. 
Nr banker som omfattas av den gemensamma resolutionsmekanismen2 fallerar eller sannolikt kommer att fallera ska mekanismen frvalta deras resolution effektivt med hjlp av en gemensam resolutionsnmnd och en gemensam resolutionsfond som finansieras av banksektorn.
The SRB is the resolution authority for significant entities and groups and cross-border banking groups established in participating Member States. 
Den gemensamma resolutionsnmnden r resolutionsmyndighet fr betydande enheter och grupper och grnsverskridande bankkoncerner som r etablerade i de deltagande medlemsstaterna.
Its mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and on public finances. 
Dess uppdrag r att skerstlla korrekta resolutionsbeslut om fallerande banker och minimera effekten p realekonomin och de offentliga finanserna.
The SRB has started its work on developing resolution plans for credit institutions from January 2015 and is fully operational, with a complete set of resolution powers, since 1 January 2016. 
Den gemensamma resolutionsnmnden inledde arbetet med att ta fram resolutionsplaner fr kreditinstitut i januari 2015 och den r fullt operativ och har fullstndiga resolutionsbefogenheter sedan den 1 januari 2016.
The decision to place an entity under resolution involves the European Central Bank (ECB), the SRB, the Commission and, possibly, the Council. 
Europeiska centralbanken (ECB), den gemensamma resolutionsnmnden, kommissionen och, i frekommande fall, rdet deltar i beslutet att frstta en enhet i resolution.
The procedure and time available for its different stages are described in Box 1. 
Frfarandet och tidsfristerna fr de olika stegen beskrivs i ruta 1.
Box 1 - The resolution procedure (a) The ECB notifies the SRB if a bank is failing or likely to fail. 
Ruta 1 Đ Resolutionsfrfarandet 2 a) ECB underrttar den gemensamma resolutionsnmnden om att en bank fallerar eller sannolikt kommer att fallera.
The SRB may also make such an assessment, but only if it has informed the ECB of its intention and the ECB does not make the assessment within three calendar days. (b) If the conditions for resolution are met, the SRB adopts a resolution scheme that determines the resolution tools and the use of the SRF. 
Den gemensamma resolutionsnmnden kan ocks gra en sdan bedmning, men endast om den har informerat ECB om sin avsikt och endast om ECB inte gr bedmningen inom tre kalenderdagar.
The scheme enters into force if 1 2 2 Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ L 225, 30.7.2014, p. 1). 
1 2 Europaparlamentets och rdets frordning (EU) nr 806/2014 av den 15 juli 2014 om faststllande av enhetliga regler och ett enhetligt frfarande fr resolution av kreditinstitut och vissa vrdepappersfretag inom ramen fr en gemensam resolutionsmekanism och en gemensam resolutionsfond och om ndring av frordning (EU) nr 1093/2010 (EUT L 225, 30.7.2014, s. 1).
Banks in the euro area Member States and in those EU countries which chose to join the banking union. 
Banker i medlemsstater inom euroomrdet och i de EU-lnder som beslutat att g med i bankunionen.
CH4386370EN04-16PP-CH303-16APCFIN-RAS-SRB_Contingent_liabilities-OR.docx 22.11.2016 
CH4386370SV04-16PP-CH303-16APCFIN-RAS-SRB_Contingent_liabilities-TR.docx 22.11.2016
the Council or the Commission have expressed no objections within 24 hours of the transmission of the scheme by the SRB. (c) During this time, the Commission can either endorse the scheme or object to the discretionary aspects of the resolution scheme. 
Ordningen trder i kraft om varken rdet eller kommissionen har gjort invndningar inom 24 timmar efter det att ordningen har verlmnats av nmnden. c) Under den hr tiden kan kommissionen antingen godknna resolutionsordningen eller invnda mot de sknsmssiga aspekterna av den.
It may also propose within 12 hours of the transmission of the scheme by the SRB that the Council, acting by simple majority, objects to the resolution scheme on the ground that the public interest criterion is not fulfilled or approves or objects to a material modification of the amount of the SRF provided for in the resolution scheme of the SRB. (d) The Council has to take a decision on the Commission proposal within 24 hours from the transmission of the resolution scheme by the SRB. 
Kommissionen fr ocks inom tolv timmar efter det att nmnden verlmnat resolutionsordningen fresl att rdet med enkel majoritet invnder mot resolutionsordningen med hnvisning till att kriteriet fr allmnintresse inte uppfylls, eller godknner eller invnder mot en vsentlig ndring av det belopp frn fonden som faststllts i nmndens resolutionsordning. d) Rdet mste fatta beslut om kommissionens frslag inom 24 timmar frn det att nmnden verlmnat resolutionsordningen.