OpenLegislation

Division 2 DEFINITIONS

United Kingdom

Original text. Later amendments are not shown.

For the purpose of the Commitments, the following terms shall mean:

1. Core Region

  • the region of Jutland.

    • 2. Decision

  • the decision of the Commission authorising the State aid measure and approving the restructuring plan of Vestjysk in case SA.34720 and dated [insert].

    • 3. Effective Date

  • the date of adoption of the Decision.

    • 4. Funding Ratio

  • the ratio of lending over the stable funding in the form of working capital except bonds with a residual maturity less than one year.

    • 5. LCR

  • liquidity coverage ratio.

    • 6. Monitoring Trustee

  • one or more natural or legal person(s), independent from Vestjysk who is approved by the Commission and appointed by Vestjysk, and who has the duty to monitor Vestjysk's compliance with the Commitments.

    • 7. Restructuring Plan

  • the restructuring plan (business plan as updated and submitted to the Commission in June 2017) of Vestjysk approved by the Decision.

    • 8. RoE

  • return on equity after tax.

    • 9. RoE at client level

  • RoE before tax on the client relationship level calculated based on a funding transfer price commensurate with a maturity matching funding cost and adjusted for risk costs. This calculation includes the volume weighted average of all loans with a single client; other fee business or banking transactions contributing to the profitability of the relationship with the same client can also be taken into account, so that a new loan might generate a lower return if it is compensated by revenues of other fee business or banking transactions.

    • 10. State Hybrids

  • The subordinated bonds subscribed by Denmark (in Danish: hybrid kernekapital udstedt under bankpakke II).

    For the purpose of the Commitments, the singular of those terms shall include the plural (and vice versa), unless the Commitments provide otherwise.