Traduction de «obligation à versements d'intérêts fragmentés » (Français → Anglais) :

5. The CFI points out, however, that Article 86(2) of the Treaty contains a derogation for firms entrusted with the operation of services of general economic interest, " so that the grant of state aid may escape the prohibition laid down in Article 87 of that Treaty provided that the sole purpose of the aid in question is to offset the additional costs incurred in performing the particular task assigned to the undertaking entrusted with the operation of a service of general economic interest and that the grant of the aid is necessary in order for that undertaking to be able to perform its public service obligations under conditions of ec ...[+++]onomic equilibrium".

In its Judgement in the FFSA case, the Court of First Instance held that: "the grant of State aid may, under Article 90(2) of the Treaty, escape the prohibition laid down in Article 92 of that Treaty provided that the sole purpose of the aid in question is to offset the additional costs incurred in performing the particular task assigned to the undertaking entrusted with the operation of a service of general economic interest and that the grant of the aid is necessary in order for that undertaking to be able to perform its public service obligations under conditions of ...[+++] economic equilibrium (Corbeau, paragraphs 17 to 19).

In its Judgement in the FFSA case, the Court of First Instance held that: "the grant of State aid may, under Article 90(2) of the Treaty, escape the prohibition laid down in Article 92 of that Treaty provided that the sole purpose of the aid in question is to offset the additional costs incurred in performing the particular task assigned to the undertaking entrusted with the operation of a service of general economic interest and that the grant of the aid is necessary in order for that undertaking to be able to perform its public service obligations under conditions of ...[+++] economic equilibrium (Corbeau, paragraphs 17 to 19).

Linear bonds are, like fungible bonds, bonds issued in several tranches from the same lineage, i.e. with the same nominal interest rate as well as identical dates for the payment of coupons and for reimbursement at maturity.

This will ensure among EU countries perfect comparability of treatment for conventional bonds issued close to the nominal value and this is consistent with ESA 79; thus for short-term bonds the recording of interest payments cannot be shifted from one year to another.

7.49. Long-term securities other than shares excluding financial derivatives (AF.332) are always to be valued at their current market values, whether they are bonds on which interest is paid regularly or deep-discounted or zero-coupon bonds on which little or no interest is paid.