Übersetzung für "Implicit guarantee" in Deutsch

This should of necessity give rise to a rating without a corresponding implicit guarantee from the EU countries.

There is no such thing as an implicit guarantee, just a likelihood of government support.

Thus, many financial institutions, especially the largest, operate with an implicit government guarantee.

Hence, for example the implicit state guarantee has been the same both before and after the entry into force of the EEA Agreement.

However, removing the implicit state guarantee would probably increase banks’ funding costs.

This advantage — which could be likened to an implicit guarantee [59] and thus constitute State aid within the meaning of Article 87(1) of the Treaty — is, however, intrinsic to the arrangements introduced by the agreements, which were concluded for a twenty-year period before Regulation (EEC) No 3577/92 and the 1997 Community guidelines on State aid to maritime transport [60], later replaced by the 2004 Community guidelines [61], entered into force.

It had no legal status at the time the bond was issued, and this resulted in an implicit state guarantee.

Lastly, any factoring in by the rating agencies of the State's presence as majority shareholder irrespective of any implicit or explicit guarantee or of any specific measure and irrespective of the company's specific financial situation at any given moment cannot in itself be considered state aid.

If it were found that there was an implicit State guarantee, it would in any event be necessary in order to ensure continuity of the public service.

The argument advanced by France Télécom and the French authorities to the effect that ‘it may be objected that any show of support by the State would have an implicit guarantee effect in view of the “unlimited” means at the State's disposal’, which ‘would be tantamount to making it impossible to apply the principle of the prudent private investor — whose resources are always limited — and to treating the conduct of the State shareholder differently from that of the private investor’, and that this would prevent any public declaration by the State, cannot be accepted by the Commission.

In a press release, it stressed that those ratings reflected the implicit State guarantee covering EDF's debt and its current legal status and added that, in the absence of such a guarantee, EDF's long-term debt rating would be AA+ [18].

In addition, the fact that the regional companies were guaranteed a subsidy which included the cost of depreciation of their fleet until 2008 could, in the Commission’s view, be seen as an implicit guarantee on the part of the Italian State, enabling the public operator not to shoulder the economic risk inherent in any investment.

French law does not recognise an implicit guarantee: any guarantee provided by the State must be enshrined in a law.

There is an implicit guarantee for countries within the euro area, irrespective of what is said about countries’ borrowing not being guaranteed by other countries in the euro area.

The bonds issued by Fannie and Freddie were widely thought to carry an implicit US government guarantee.

Some assumed an implicit debt guarantee, but that was always implausible, given that the Treaty on the Functioning of the European Union explicitly ruled it out.

That and the implicit guarantee of government backing (which finally turned explicit) allowed these two institutions to expand enormously, including into exotic financial transactions that they had no business being involved in.

Even if China agreed to buy the debt, it would likely consider buying some of the special paper that the EFSF plans to issue only if it obtained some political concessions and an implicit guarantee from Germany.

Following a request by a member state, the Commission would be entitled to borrow on capital markets under the implicit EU budget guarantee, with the maximum amount determined by the size of the country’s unused (pre-allocated) Structural and Cohesion Funds.

What was considered decisive was that the new Act No 121/1997 on State Guarantees introduced a new system where, for the first time, HFF was being treated more favourably than provided for under the general rule for undertakings benefiting from the implicit State guarantee.

The comments of the Icelandic Government are focused on the fact that any aid element involved derives directly from the implicit State guarantee in favour of HFF, which has already been established to constitute existing aid.

In particular, the mere fact that the ownership of an undertaking is largely in public hands is not sufficient in itself to constitute a state guarantee provided there are no explicit or implicit guarantee elements.