current commercial value of a farm

The value at which the contracts were transferred

Consequently, the transfer value for asset purchase or asset insurance [23] measures should be based on their real economic value.

As the transfer value of the portfolio is higher than the current market value, the measure constitutes an advantage to NLB.

In a good-out scenario, the good bank should in principle therefore cover the difference between transfer value and real economic value.

The difference between the transfer value and the market value is EUR […] billion, of which 10 % has to be deducted as 10 % of the losses are retained by KBC.

The first valuation adjustment, which is expected to take place in autumn of 2019, replaces the provisional transfer value with the asset value set in a legally binding manner by EICom and retroactive to the handover date.

In line with paragraphs 40 and 41 of the IAC, the transfer value of the impaired assets must be in line with their real economic value (hereinafter REV).

The aid amount corresponds to the difference between the transfer value of the assets (normally based on their real economic value) and the market price.

The BAMC will pay NLB the established transfer value by State-guaranteed debt securities issued by the BAMC.

According to points 23 and 41 of the Impaired Assets Communication, the transfer price in asset purchase measures should be based on their underlying long-term economic value.

The transfer value has been preliminarily established by the Bank of Slovenia in line with the methodology laid down in the legislation establishing the BAMC.

The transfer price is EUR 617 million, while the market price is estimated at EUR 486 million. The aid granted to NLB as a result of the transfer of impaired assets to the BAMC amounts to EUR 130 million.

The arguments of the Icelandic authorities to the effect that the inclusion of a credit buffer ensures that the book value is adjusted to a market value cannot be accepted.