FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: In the request, the amount of credit must be stated and, if underlying assets for the transaction have not already been pre-deposited with the national central bank, the underlying assets to be delivered for the transaction must be specified. Apart from the requirement to present sufficient underlying eligible assets, there is no limit to the amount of funds that can be advanced under the marginal lending facility.
Portuguese: O pedido tem de mencionar o montante de crédito pretendido e, caso os activos para garantia da operação não tenham sido já depositados antecipadamente no banco central nacional, tem de especificar quais os activos que serão entregues para a operação.Para além da exigência de apresentação de activos elegíveis em quantidade suficiente, não há limites ao montante de crédito que pode ser concedido ao abrigo da facilidade permanente de cedência de liquidez.
English: Structural operations Structural operations through standard tenders are not executed according to any pre-specified calendar.
Portuguese: As operações estruturais realizadas através de leilões normais não são executadas de acordo com qualquer calendário estabelecido antecipadamente.
English: Counterparties without a safe custody account with a national central bank or a securities settlement account with an SSS fulfilling the ECB’s minimum standards may settle the transactions of underlying assets through the securities settlement account or the safe custody account of a correspondent credit institution. Further provisions related to the settlement procedures are defined in the contractual arrangements applied by the national central banks (or the ECB) for the specific monetary policy instruments.
Portuguese: As contrapartes que não detenham uma conta de guarda de títulos num banco central nacional, ou uma conta de liquidação de títulos num SLT que respeite os padrões mínimos do BCE, podem proceder à liquidação física dos activos subjacentes às operações de política monetária através da conta de liquidação de títulos ou da conta de guarda de títulos de uma instituição de crédito correspondente.Outras disposições relacionadas com os procedimentos de liquidação são definidas nos acordos contratuais aplicados pelos bancos centrais nacionais (ou pelo BCE) aos instrumentos específicos de política monetária.
English: The ECB publishes the credit quality threshold for any accepted ECAI, as established under Section 6.3.1 [67]. Guarantees: In the absence of an (acceptable) ECAI credit assessment of the issuer, high credit standards can be established on the basis of guarantees provided by financially sound guarantors.
Portuguese: O BCE publica o limite de qualidade de crédito para qualquer IEAC aceite, como especificado na Secção 6.3.1 [67].Garantias: Na ausência de uma avaliação do emitente por parte de uma IEAC (aceitável), podem ser estabelecidos elevados padrões de crédito com base nas garantias fornecidas por garantes financeiramente sólidos.
English: in SSS B SSS A
Portuguese: SLT B
Swedish: SSS B
English: If such proof cannot be presented, issuers may apply a standardised deduction of a fixed percentage [103] to this balance sheet item. The reserve ratios are determined by the ECB subject to the maximum limit specified in Council Regulation (EC) No 2531/98.
Portuguese: Se tal prova não puder ser efectuada, os emitentes podem aplicar uma dedução padrão, numa percentagem fixada [103], a essa rubrica do balanço.Os rácios de reserva são determinados pelo BCE e estão sujeitos ao limite máximo especificado no Regulamento (CE) n.o 2531/98 do Conselho.
Swedish: I Eurosystemets kassakravssystem räknas endast skuldkategorierna ”inlåning” och ”emitterade skuldförbindelser” in i kassakravsbasen (se ruta 9).
English: Risk control measures This example illustrates the risk control framework applied to underlying assets used in the Eurosystem’s liquidity-providing operations. The example is based on the assumption that a counterparty participates in the following Eurosystem monetary policy operations:
Portuguese: Medidas de controlo de risco
English: The Eurosystem’s minimum reserve system provides for averaging. Bilateral procedure: a procedure whereby the central bank deals directly with only one or a few counterparties, without making use of tender procedures.
Portuguese: Actividade de correspondente bancário (correspondent banking): acordo segundo o qual uma instituição de crédito efectua pagamentos e presta serviços a outra instituição de crédito.
English: Collateral pooling system: a central bank system for managing collateral, in which counterparties open a pool account to deposit assets collateralising their transactions with the central bank. In a pooling system, by contrast with an earmarking system, the underlying assets are not earmarked for individual transactions.
Portuguese: Conta loro é o termo utilizado por um correspondente para descrever uma conta detida em nome de uma instituição de crédito estrangeira; a instituição de crédito estrangeira, por seu lado, considera essa conta como conta nostro.
English: The Eurosystem considers a probability of default (PD) of 0,10 % over a one-year horizon to be equivalent to a ‘single A’ credit assessment. External credit assessment institution (ECAI): a credit quality assessment source provided for in the Eurosystem credit assessment framework (ECAF) that comprises those institutions whose credit assessments may be used by credit institutions for the determination of risk weight exposures according to the Capital Requirements Directive.
Portuguese: Instituição de crédito (credit institution): uma instituição abrangida pela definição contida no n.o 1 do artigo 4.o da Directiva 2006/48/CE do Parlamento Europeu e do Conselho, de 14 de Junho de 2006, relativa ao acesso à actividade das instituições de crédito e ao seu exercício (reformulação).
English: Marginal lending facility: a standing facility of the Eurosystem which counterparties may use to receive overnight credit from a national central bank at a pre-specified interest rate against eligible assets. Marginal swap point quotation: the swap point quotation at which the total tender allotment is exhausted. Marking to market: see variation margin.
Portuguese: Margem inicial (initial margin): medida de controlo de risco que pode ser aplicada pelo Eurosistema a operações reversíveis, implicando que o valor da garantia exigida numa transacção seja igual ao do crédito concedido à contraparte acrescido do valor da margem inicial.
English: In addition, the issuance of debt certificates and outright transactions are available for structural operations, while outright transactions, foreign exchange swaps and the collection of fixed-term deposits are available for the conduct of fine-tuning operations. Outright transaction: a transaction whereby assets are bought or sold up to their maturity (spot or forward).
Portuguese: Além disso, as operações estruturais podem ser executadas sob a forma de emissão de certificados de dívida e de transacções definitivas, enquanto as operações ocasionais de regularização podem ser executadas sob a forma de transacções definitivas, swapscambiais e constituição de depósitos a prazo fixo.
English: Reserve base: the sum of the balance sheet items which constitute the basis for calculating the reserve requirement of a credit institution. Reserve holdings: counterparties’ holdings on their reserve accounts which serve to fulfil reserve requirements.
Portuguese: Normalmente, terminam no dia anterior ao dia de liquidação da primeira operação principal de refinanciamento efectuada após a correspondente reunião do Conselho do BCE no mês seguinte.
Slovenian: Repo pogodba (pogodba o začasnem nakupu): pogodba, po kateri se finančno premoženje proda, istočasno pa prodajalec pridobi pravico in obveznost, da finančno premoženje ponovno kupi po določeni ceni na datum v prihodnosti ali na poziv.
English: Regulation ECB/2001/13, as amended, does not prevent NCBs from collecting, from the actual reporting population, the statistical information necessary to fulfil the statistical requirements of the ECB as part of a broader statistical reporting framework which the NCBs establish under their own responsibility in accordance with Community or national law or established practice and which serves other statistical purposes. However, this should be without prejudice to the fulfilment of the statistical requirements set out in Regulation ECB/2001/13.
Portuguese: O Regulamento BCE/2001/13, com as alterações que lhe foram introduzidas, não impede os BCN de recolherem, junto da população efectivamente inquirida, a informação estatística necessária para satisfazer as exigências estatísticas do BCE, como parte de um sistema de informação estatística mais amplo estabelecido pelos BCN sob a sua própria responsabilidade e de acordo com a legislação comunitária ou nacional, ou com as práticas estabelecidas, que possa servir outros objectivos estatísticos, embora sem prejuízo do cumprimento das exigências estatísticas estabelecidas no Regulamento BCE/2001/1.
English: RoW rest of the world
Slovak: RT ratingový nástroj (rating tool)
English: The amount allotted to each counterparty is rounded to the nearest euro. Type of auction
Slovak: Prideľovanie v tendroch devízových swapov s pohyblivou úrokovou sadzbou
English: =A–Σs=1 m–1 aΔs aΔm
Slovak: aΔm
English: The risk control measures and valuation principles for underlying assets are set out in Sections 6.4 and 6.5. Eurosystem counterparties may use eligible assets on a cross-border basis (see Section 6.6).
Slovak: Zmluvné strany Eurosystému môžu používať akceptovateľné aktíva na cezhraničnej báze (časť 6.6).
English: the notification of the debtor about the mobilisation of the credit claim or the registration of such mobilisation; the absence of restrictions related to banking secrecy and confidentiality; the absence of restrictions on the mobilisation of the credit claim; the absence of restrictions on the realisation of the credit claim.
Slovak: Sídlo emitenta: emitent musí mať sídlo v eurozóne.
English: The content of these legal requirements is set out in Annex 7. Further details of the specific features of the national jurisdictions are provided in the respective national documentation. Rules for the use of eligible assets Marketable assets can be used for all monetary policy operations which are based on underlying assets, i.e. reverse and outright open market transactions and the marginal lending facility. Non-marketable assets can be used as underlying assets for reverse open market transactions and the marginal lending facility. They are not used in Eurosystem outright transactions. All marketable and non-marketable assets can also be used as underlying assets for intraday credit.
Slovak: Zaobchádzanie s RMBD: s RMBD sa musí zaobchádzať v súlade s postupmi Eurosystému, ktoré sú definované v príslušných národných predpisoch.
English: Irrespective of the fact that a marketable or non-marketable asset fulfils all eligibility criteria, a counterparty may not submit as collateral any asset issued or guaranteed by itself or by any other entity with which it has close links [57]. ‘Close links’ means a situation in which the counterparty is linked to an issuer/debtor/guarantor of eligible assets by reason of the fact that:
Slovak: Denominácia: RMBD musia byť denominované v eurách [58].
English: a third party owns both the majority of the capital of the counterparty and the majority of the capital of the issuer/debtor/guarantor, either directly or indirectly, through one or more undertakings in which that third party owns the majority of the capital. The above provision on close links does not apply to: (a) close links between the counterparty and the public authorities of EEA countries (including the case where the public authority is a guarantor of the issuer/debtor/guarantor); (b) covered bank bonds issued in accordance with the criteria set out in Article 22(4) of the UCITS Directive; or (c) cases in which debt instruments are protected by specific legal safeguards comparable to those for the instruments given under (b). Furthermore, in spite of their eligibility, national central banks may decide not to accept the following marketable or non-marketable assets as collateral:
Slovak: emitent/dlžník/ručiteľ vlastní 20 % alebo viac základného imania zmluvnej strany alebo jeden alebo viac podnikov, v ktorých emitent/dlžník/ručiteľ vlastní väčšinový podiel na základnom imaní, vlastní 20 % alebo viac základného imania zmluvnej strany alebo emitent/dlžník/ručiteľ a jeden alebo viac podnikov, v ktorých emitent/dlžník/ručiteľ vlastní väčšinový podiel na základnom imaní, spolu vlastnia 20 % alebo viac základného imania zmluvnej strany;
English: debt instruments falling due before the maturity date of the monetary policy operation for which they are being used as underlying assets [58]; and debt instruments with an income flow (e.g. a coupon payment) occurring in the period up to the maturity date of the monetary policy operation for which they are being used as underlying assets. All eligible marketable and non-marketable assets must be usable in a cross-border context throughout the euro area. This implies that all Eurosystem counterparties must be able to use eligible assets either through links with their domestic SSSs in the case of marketable assets or through other eligible arrangements to receive credit from the national central bank of the Member State in which the counterparty is established (see Section 6.6).
Slovak: tretia strana vlastní väčšinový podiel na základom imaní zmluvnej strany aj väčšinový podiel na základom imaní emitenta/dlžníka/ručiteľa, a to buď priamo, alebo nepriamo prostredníctvom jedného alebo viacerých podnikov, v ktorých tretia strana vlastní väčšinový podiel na základnom imaní.
English: Eligible assets for Eurosystem monetary policy operations Eligibility criteria Marketable assets [59]
Slovak: Okrem toho, i napriek akceptovateľnosti, národné centrálne banky na základe vlastného uváženia nemusia akceptovať ako kolaterál nasledujúce obchodovateľné alebo neobchodovateľné aktíva:
English: The high credit standards are assessed using ECAF rules for RMBDs. Place of issue
Slovak: Aktívum musí spĺňať vysoké štandardy úverovej bonity, ktoré sa hodnotia podľa pravidiel ECAF pre RMBD.
English: Not applicable Not applicable
Slovak: Európsky hospodársky priestor (EHP) [63] - -
English: Not applicable Governing laws related to credit claims
Slovak: Rozhodné práva vzťahujúce sa na úverové pohľadávky -
English: Guarantees: In the absence of an (acceptable) ECAI credit assessment of the issuer, high credit standards can be established on the basis of guarantees provided by financially sound guarantors. The financial soundness of the guarantor is assessed on the basis of ECAI credit assessments meeting the Eurosystem’s credit quality threshold. The guarantee must meet the following requirements: A guarantee is deemed acceptable if the guarantor has unconditionally and irrevocably guaranteed the obligations of the issuer in relation to the payment of principal, interest and any other amounts due under the debt instruments to the holders thereof until they are discharged in full.
Slovak: Záruky: v prípade, že hodnotenie úverovej bonity emitenta od (akceptovanej) ECAI k dispozícii nie je, vysoké štandardy úverovej bonity sa môžu stanoviť na základe záruk poskytnutých bonitnými ručiteľmi.
English: The obligations of the guarantor under the guarantee need to rank at least equally and rateably (pari passu) with all other unsecured obligations of the guarantor. The guarantee must be governed by the law of an EU Member State and be legally valid, binding and enforceable against the guarantor.
Slovak: záruka sa považuje za akceptovateľnú, ak sa ručiteľ bezpodmienečne a neodvolateľne zaručí za záväzky emitenta súvisiace s vyplatením istiny, úrokov a všetkých ostatných súm splatných vo vzťahu k dlhovému nástroju jeho držiteľom až do ich úplného zaplatenia;
English: The legal confirmation should be submitted for review to the national central bank that is reporting a certain asset supported by a guarantee for inclusion in the list of eligible assets [68]. The need for a legal confirmation does not apply to guarantees given in respect of debt instruments with an individual asset rating or to guarantees given by public entities entitled to levy taxes.
Slovak: Záruky poskytnuté verejnými subjektmi oprávnenými vyberať dane by mali byť splatné buď na prvé požiadanie, alebo by po nedodržaní záväzku dlžníka mali iným spôsobom zabezpečiť promptné a včasné zaplatenie.
English: Euro area public sector issuers or guarantors: If a marketable asset is issued or guaranteed by a regional government, local authority or public sector entity (PSE) located in the euro area as defined in the CRD, the following procedure applies: The issuer or guarantor is allocated to one of three classes in accordance with the CRD [69] as explained in Table 5.
Slovak: právne potvrdenie o právoplatnosti, právnej záväznosti a vymáhateľnosti záruky bude potrebné predložiť Eurosystému vo forme a s obsahom prijateľným pre Eurosystém ešte pred možným uznaním akceptovateľnosti aktíva podporeného zárukou.
English: An implicit credit assessment for issuers or guarantors belonging to classes 1 and 2 is derived from the ECAI credit assessment of the central government of the country where the issuer or guarantor is established. This implicit credit assessment has to meet the Eurosystem credit quality threshold. No implicit credit assessment is derived for issuers/guarantors belonging to class 3.
Slovak: Ak má ručiteľ sídlo v inej jurisdikcii, než do ktorej patrí právny predpis upravujúci záruku, právne potvrdenie musí tiež potvrdiť, že záruka je právoplatná a vymáhateľná podľa práva, ktoré upravuje zriadenie ručiteľa.
English: Table 5 Implicit credit assessments for euro area regional government, local authority and public sector entity issuers, debtors or guarantors without an ECAI credit assessment Allocation of issuers, debtors or guarantors following the CRD ECAF derivation of the implicit credit assessment of the issuer, debtor or guarantor belonging to the corresponding class Class 1 Regional governments, local authorities and PSEs that, according to competent supervisory authorities, can be treated equally to the central government for capital requirements purposes Allocated the ECAI credit assessment of the central government of the country in which it is established Class 2 Regional governments, local authorities and PSEs that, according to competent supervisory authorities, can be treated equally to [credit] institutions for capital requirements purposes
Slovak: emitenti a ručitelia z verejného sektora eurozóny: ak je emitentom alebo ručiteľom obchodovateľného aktíva regionálna samospráva, orgán miestnej samosprávy alebo subjekt z verejného sektora z eurozóny v zmysle smernice o kapitálových požiadavkách, platí nasledujúci postup:
English: In order to establish the requirement for high credit standards for the debtors or guarantors of credit claims, counterparties have to select one main credit assessment source from among those that are available and accepted by the Eurosystem. A counterparty will select one system from an available credit assessment source, except in the case of ECAIs, where all accepted ECAI systems may be used. Counterparties have to stick to the selected source for a minimum period of one year so as to preclude ‘hopping’ between credit assessments (i.e. looking for the best credit assessment that guarantees eligibility among all available sources or systems on a debtor-by-debtor basis).
Slovak: Regionálne štátne správy, územné samosprávy a subjekty z verejného sektora, ktoré sa podľa príslušných orgánov dohľadu na účely kapitálových požiadaviek môžu hodnotiť rovnako ako ústredná štátna správa
English: Counterparties wishing to change credit assessment sources after the minimum period of one year have to submit a reasoned request to the relevant NCB. Counterparties may be allowed to use more than one system or source upon submission of a reasoned request. The main credit assessment source chosen is expected to cover the largest number of submitted debtors by the counterparty. The use of more than one credit assessment source or system should be supported by the existence of an adequate business case. In principle, such a case could stem from a lack of sufficient coverage of the primary credit assessment source or system. Counterparties must inform the national central bank promptly of any credit event, including a delay of payments by the submitted debtors, that is known to the counterparty and, if necessary, withdraw or replace the assets.
Slovak: Majú rovnaké hodnotenie úverovej bonity od ECAI ako ústredná štátna správa krajiny pôvodu
English: Credit assessments of debtors/guarantors: The high credit standards of the debtors or guarantors of credit claims are established according to rules differentiating between public sector and non-financial corporate debtors/guarantors: Public sector debtors or guarantors: The following rules are applied in a sequential order:
Slovak: Regionálne štátne správy, územné samosprávy a subjekty verejného sektora, ktoré sa podľa príslušných orgánov dohľadu môžu na účely kapitálových požiadaviek hodnotiť rovnako ako [úverové] inštitúcie
English: If a credit assessment from the system or source selected by the counterparty (or from an ECAI in case (ii) for public sector debtors or guarantors) exists but is below the credit quality threshold, the debtor or guarantor is ineligible. Non-financial corporate debtors or guarantors: If the source selected by the counterparty provides a credit assessment equal to or exceeding the credit quality threshold, the debtor or guarantor is eligible [75] [76].
Slovak: Ak je k dispozícii hodnotenie úverovej bonity zo systému alebo zdroja, ktorý si zmluvná strana zvolila (resp. od ECAI v prípade dlžníkov a ručiteľov z verejného sektora podľa bodu (ii)), ale toto hodnotenie nedosahuje minimálny limit úverovej bonity, dlžník, resp. ručiteľ nie je akceptovateľný.
English: Guarantees: A guarantee must meet the following requirements: A guarantee is deemed acceptable if the guarantor has unconditionally and irrevocably guaranteed the obligations of the debtor in relation to the payment of principal, interest and any other amounts due under the credit claim to the holder thereof until they are discharged in full.
Slovak: Ak je k dispozícii hodnotenie úverovej bonity zo systému alebo zdroja, ktorý si zmluvná strana zvolila, ale toto hodnotenie nedosahuje minimálny limit úverovej bonity, dlžník, resp. ručiteľ nie je akceptovateľný.
English: Under each source, there might be a set of credit assessment systems. The accepted ECAIs, ICASs and third-party RTs and their providers are listed on the ECB’s website (www.ecb.int) [77].
Slovak: Vysoké štandardy úverovej bonity neobchodovateľných retailových hypotekárnych záložných dlhových nástrojov (retail mortgage-backed debt instruments - RMBD) musia spĺňať minimálny limit úverovej bonity stanovený Eurosystémom.
English: Eligible marketable assets are allocated to one of four liquidity categories, based on issuer classification and asset type. The allocation is described in Table 6. Table 6 Liquidity categories for marketable assets [83] Category I Category II Category III Category IV
Slovak: Podľa klasifikácie emitenta a druhu cenného papiera sa akceptovateľné obchodovateľné aktíva zaraďujú do jednej zo štyroch kategórií likvidity spôsobom uvedeným v tabuľke 6.
English: Central government debt instruments Local and regional government debt instruments Traditional covered bank bonds Asset-backed securities Debt instruments issued by central banks [84]
Slovak: Tabuľka 6
English: Collateral Information on collateral
Slovak: Okrem CCBM sa na cezhraničný prevod cenných papierov môžu využívať akceptovateľné prepojenia medzi SSS [94].