natgillin/translations-raw huggingface dataset:
hvis en kreditvurdering, der er foretaget af et godkendt eksternt kreditvurderingsbureau, af en udsteder, en garant eller en udstedelse ikke opfylder mindst kreditkvalitetstrin 3 i Eurosystemets harmoniserede ratingskala, kan omsættelige gældsværdipapirer kun godkendes, hvis de er udstedt eller fuldt ud garanteret af staten i en medlemsstat i euroområdet under et finansielt støtteprogram, for hvilket Styrelsesrådet har suspenderet anvendelsen af Eurosystemets kreditkvalitetsgrænse i henhold til artikel 8 i retningslinje ECB/2014/31
if the credit assessment provided by an accepted ECAI for the issuer, guarantor or issue does not comply with at least Credit Quality Step 3 in the Eurosystem's harmonised rating scale, marketable debt securities shall be eligible only if they are issued or fully guaranteed by the central governments of euro area Member States under a financial assistance programme and in respect of which the application of the Eurosystem's credit quality threshold is suspended by the Governing Council pursuant to Article 8 of Guideline ECB/2014/31;
i tilfælde af at et igangværende finansielt støtteprogram tages op til fornyet overvejelse, suspenderes godkendelsen til opkøb under PSPP, og godkendelsen vil kun blive fornyet, såfremt resultatet af gennemgangen er positiv.
in the event of a review of an ongoing financial assistance programme, eligibility for PSPP purchases shall be suspended and shall resume only in the event of a positive outcome of the review.
Købsgrænser
Purchase limits
Den øvre grænse er som følger:
The issue share limit shall be as follows:
50 % per ISIN-nummer for belånbare omsættelige gældsværdipapirer, der er udstedt af godkendte internationale organisationer og multilaterale udviklingsbanker
50 % per ISIN for eligible marketable debt securities issued by eligible international organisations and multilateral development banks;
33 % per ISIN-nummer for andre belånbare omsættelige gældsværdipapirer med en undtagelse på 25 % per ISIN-nummer for belånbare omsættelige gældsværdipapirer, der indeholder en CAC-klausul (collective action clause), som adskiller sig fra en CAC-modelklausul for euroområdet, udarbejdet af Det Økonomiske og Finansielle Udvalg (Economic and Financial Committee) og gennemført i medlemsstaterne i overensstemmelse med artikel 12, stk. 3, i traktaten om oprettelse af den europæiske stabilitetsmekanisme, men som hæves til 33 %, under forbehold af at det i de enkelte tilfælde kontrolleres, at en beholdning på 33 % per ISIN-nummer for disse værdipapirer ikke medfører, at centralbankerne i Eurosystemets beholdninger kommer til at udgøre blokerende mindretal i velordnede gældssaneringer.
33 % per ISIN for other eligible marketable debt securities, with the exception of 25 % per ISIN for such eligible marketable debt securities containing a collective action clause (CAC) that differs from the euro area model CAC elaborated by the Economic and Financial Committee and implemented by the Member States in accordance with Article 12(3) of the Treaty establishing the European Stability Mechanism, but will be increased to 33 %, subject to verification on a case-by-case basis that a holding of 33 % per ISIN of those securities would not lead the Eurosystem central banks to reach blocking minority holdings in orderly debt restructurings.
Alle omsættelige gældsværdipapirer, der er godkendt til opkøb under PSPP-programmet og der har resterende løbetider, som nærmere specificeret i artikel 3, er underlagt en aggregeret grænse, efter at beholdningerne i alle porteføljerne i Eurosystemets centralbanker er blevet konsolideret, på:
All marketable debt securities eligible for purchase under the PSPP and which have the remaining maturities specified in Article 3 shall be subject to an aggregate limit, after consolidating holdings in all of the portfolios of the Eurosystem central banks, of:
50 % for de udestående værdipapirer fra en udsteder, som er en godkendt international organisation eller en multilateral udviklingsbank, eller
50 % of the outstanding securities of an issuer which is an eligible international organisation or a multilateral development bank; or
33 % for de udestående værdipapirer fra en udsteder, som ikke er en godkendt international organisation eller en multilateral udviklingsbank.
33 % of the outstanding securities of an issuer other than an eligible international organisation or a multilateral development bank.
For så vidt angår gældsværdipapirerne omhandlet i artikel 3, stk. 2, litra d), gælder der andre øvre grænser for udsteder og udstedelse.
With regard to the debt securities referred to in point (d) of Article 3(2), different issuer and issue share limits shall apply.
Disse grænser fastsættes af Styrelsesrådet, der behørigt tager hensyn til risikostyringshensyn og markedets funktion.«
These limits will be set by the Governing Council taking due account of risk management and market functioning considerations.’;
Artikel 6, stk. 1, erstattes af følgende:
in Article 6, paragraph 1 is replaced by the following:
Af den bogførte værdi af opkøbte omsættelige gældsværdipapirer, som er godkendt til opkøb under PSPP, skal 10 % udgøres af værdipapirer udstedt af godkendte internationale organisationer og multilaterale udviklingsbanker, og 90 % af den bogførte værdi skal udgøres af opkøbte værdipapirer udstedt af godkendte statslige, regionale eller lokale myndigheder og agencies, eller hvis artikel denne afgørelses artikel 3, stk. 4, finder anvendelse, værdipapirer udstedt af godkendte offentlige ikke-finansielle selskaber.
Of the book value of purchases of marketable debt securities eligible under the PSPP, 10 % shall be purchased in securities issued by eligible international organisations and multilateral development banks, and 90 % of that book value shall be purchased in securities issued by eligible central, regional or local governments and recognised agencies or, where applicable pursuant to Article 3(4) of this Decision, in securities issued by eligible public non-financial corporations.
Denne fordeling kan revideres af Styrelsesrådet.
This allocation is subject to revision by the Governing Council.
Kun de nationale centralbanker kan foretage opkøb af gældsværdipapirer udstedt af godkendte internationale organisationer, multilaterale udviklingsbanker, og regionale eller lokale myndigheder.«
Purchases of debt securities issued by eligible international organisations, multilateral development banks and regional and local governments shall be made by NCBs only.’;
Artikel 6, stk. 2, erstattes af følgende:
in Article 6, paragraph 2 is replaced by the following:
De nationale centralbankers andel af den bogførte værdi for opkøb af omsættelige gældsværdipapirer, som er godkendt til opkøb under PSPP, udgør 90 %; de resterende 10 % opkøbes af ECB.
The NCBs' share of the book value of purchases of marketable debt securities eligible under the PSPP shall be 90 %, and the remaining 10 % shall be purchased by the ECB.
Fordelingen af opkøb på tværs af jurisdiktioner sker i overensstemmelse med fordelingsnøglen for kapitalindskud i ECB som omhandlet i ESCB-statuttens artikel 29.«
The distribution of purchases across jurisdictions shall be in accordance with the key for subscription of the ECB's capital as referred to in Article 29 of the Statute of the ESCB.’.
Mario Draghi
It shall apply from 19 April 2016.
Den Europæiske Centralbanks afgørelse (EU) 2015/774 af 4. marts 2015 om et program til opkøb af den offentlige sektors aktiver på det sekundære marked (ECB/2015/10) (EUT L 121 af 14.5.2015, s. 20).
Done at Frankfurt am Main, 18 April 2016.
Den Europæiske Centralbanks retningslinje (EU) 2015/510 af 19. december 2014 om gennemførelsen af Eurosystemets pengepolitiske ramme (ECB/2014/60) (EUT L 91 af 2.4.2015, s. 3).
The President of the ECB
Den Europæiske Centralbanks retningslinje ECB/2014/31 af 9. juli 2014 om yderligere midlertidige foranstaltninger vedrørende Eurosystemets refinansieringstransaktioner og belånbar sikkerhed og om ændring af retningslinje ECB/2007/9 (EUT L 240 af 13.8.2014, s. 28).«
Decision (EU) 2015/774 of the European Central Bank of 4 March 2015 on a secondary markets public sector asset purchase programme (ECB/2015/10) (OJ L 121, 14.5.2015, p. 20).
Denne afgørelse træder i kraft den 19. april 2016.
Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (ECB/2014/60) (OJ L 91, 2.4.2015, p. 3).
Den finder anvendelse fra den 19. april 2016.
Guideline ECB/2014/31 of the European Central Bank of 9 July 2014 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral and amending Guideline ECB/2007/9 (OJ L 240, 13.8.2014, p. 28).’;
Formand for ECB
This Decision shall enter into force on 19 April 2016.
Den Europæiske Centralbanks afgørelse (EU) 2016/821
Decision (EU) 2016/821 of the European Central Bank
af 26. april 2016
of 26 April 2016
om ændring af afgørelse ECB/2007/7 om de nærmere vilkår for TARGET2-ECB (ECB/2016/9)
amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2016/9)
under henvisning til statutten for Det Europæiske System af Centralbanker og Den Europæiske Centralbank, særlig artikel 3.1, og artikel 17, 18 og 22, og
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 3.1 and Articles 17, 18 and 22 thereof,
Den Europæiske Centralbanks retningslinje (EU) 2016/579 (ECB/2016/6) [1] har ændret Den retningslinje ECB/2012/27 [2] for at præcisere den ordning, hvorved de nationale centralbanker tilbyder tjenester til automatisk sikkerhedsstillelse og afvikling i centralbankpenge.
Guideline (EU) 2016/579 of the European Central Bank (ECB/2016/6) [1] has amended Guideline ECB/2012/27 [2] with a view to clarifying the scheme by which national central banks (NCBs) provide auto-collateralisation services and settlement in central bank money.
Disse præciseringer er en opfølgning på ændringerne, som blev indført ved Den Europæiske Centralbanks retningslinje (EU) 2015/930 (ECB/2015/15) [3], som ændrede retningslinje ECB/2012/27, hvorved der blev indført særlige kontantkonti og tjenester til automatisk sikkerhedsstillelse med henblik på driften af TARGET2-Securities (T2S).
These clarifications follow on from amendments introduced by Guideline (EU) 2015/930 of the European Central Bank (ECB/2015/15) [3], which amended Guideline ECB/2012/27 to introduce Dedicated Cash Accounts and auto-collateralisation services with regard to the operation of TARGET2-Securities (T2S).
Med retningslinje (EU) 2016/579 (ECB/2016/6) blev der også indført ændringer til retningslinje ECB/2012/27 vedrørende en række politikspørgsmål, herunder behandlingen af TARGET2-deltagere underkastet en afviklingsprocedure med hensyn til spørgsmålet om deres deltagelse i TARGET2.
Guideline (EU) 2016/579 (ECB/2016/6) has also introduced amendments to Guideline ECB/2012/27 on a number of policy issues, including the treatment of TARGET2 participants subject to resolution proceedings, from the perspective of their TARGET2 participation.
For at afspejle ovennævnte ændringer til retningslinje ECB/2012/27 bør afgørelse ECB/2007/7 [4], som vedrører de nærmere vilkår for TARGET2-ECB, tilsvarende ændres —
To reflect the foregoing amendments to Guideline ECB/2012/27, Decision ECB/2007/7 [4], which is concerned with the terms and conditions of TARGET2-ECB, should be amended accordingly,
Bilag I og II til afgørelse ECB/2007/7 ændres i overensstemmelse med bilaget til denne afgørelse.
Annexes I and II to Decision ECB/2007/7 are amended in accordance with the Annex to this Decision.
Denne afgørelse træder i kraft den 16. maj 2016.
This Decision shall enter into force on 16 May 2016.
Udfærdiget i Frankfurt am Main, den 26. april 2016.
Done at Frankfurt am Main, 26 April 2016.
Den Europæiske Centralbanks retningslinje (EU) 2016/579 af 16. marts 2016 om ændring af retningslinje ECB/2012/27 om TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) (ECB/2016/6) (EUT L 99 af 15.4.2016, s. 21).
Guideline (EU) 2016/579 of the European Central Bank of 16 March 2016 amending Guideline ECB/2012/27 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2016/6) (OJ L 99, 15.4.2016, p. 21).
Den Europæiske Centralbanks retningslinje ECB/2012/27 af 5. december 2012 om TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) (EUT L 30 af 30.1.2013, s. 1).
Guideline ECB/2012/27 of the European Central Bank of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (OJ L 30, 30.1.2013, p. 1).
Den Europæiske Centralbanks retningslinje (EU) 2015/930 af 2. april 2015 om ændring af retningslinje ECB/2012/27 om TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) (ECB/2015/15) (EUT L 155 af 19.6.2015, s. 38).
Guideline (EU) 2015/930 of the European Central Bank of 2 April 2015 amending Guideline ECB/2012/27 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2015/15) (OJ L 155, 19.6.2015, p. 38).
Afgørelse ECB/2007/7 af 24. juli 2007 om de nærmere vilkår for TARGET2-ECB (EUT L 237 af 8.9.2007, s. 71).
Decision ECB/2007/7 of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (OJ L 237, 8.9.2007, p. 71).
Bilag I til afgørelse ECB/2007/7 ændres som følger:
Annex I to Decision ECB/2007/7 is amended as follows:
I artikel 1 erstattes følgende definition:
in Article 1, the following definition is replaced:
»direct debit authorisation« means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer's account upon receipt of a valid direct debit instruction from a payee,«
“direct debit authorisation” means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer's account upon receipt of a valid direct debit instruction from a payee,’;
Følgende sætning indsættes i slutningen af stk. 1:
the following sentence is added at the end of paragraph 1:
»For the purposes of this paragraph, the taking of resolution action within the meaning of Directive 2014/59/EU of the European Parliament and of the Council against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.ii) Stk. 4, litra a), erstattes af følgende:
‘For the purposes of this paragraph, the taking of resolution action within the meaning of Directive 2014/59/EU of the European Parliament and of the Council against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.(ii) paragraph 4(a) is replaced by the following:
Stk. 4, litra b), udgår.
Such message shall be deemed to have been issued by the home CB of the PM account holder and DCA holder that receives the message.’;
Artikel 32, stk. 1, erstattes af følgende:
paragraph 4(b) is deleted;
The ECB shall keep confidential all sensitive or secret information, including when such information relates to payment, technical or organisational information belonging to the participant, participants from the same group or the participant's customers, unless the participant or its customer has given its written consent to disclose.«
in Article 32, paragraph 1 is replaced by the following:
I tillæg II erstattes punkt 3, litra a), nr. ii), af følgende:
The ECB shall keep confidential all sensitive or secret information, including when such information relates to payment, technical or organisational information belonging to the participant, participants from the same group or the participant's customers, unless the participant or its customer has given its written consent to disclose.’;
Any interest or charges resulting from the placing of any non-settled payment orders on deposit with the Eurosystem shall be deducted from, or charged to, the amount of any compensation, as the case may be; and«
in Appendix II, paragraph 3(a)(ii) is replaced by the following:
I tillæg IV ændres punkt 4 som følger:
Any interest or charges resulting from the placing of any non-settled payment orders on deposit with the Eurosystem shall be deducted from, or charged to, the amount of any compensation, as the case may be; and’;
Litra b) erstattes af følgende:
in Appendix IV, paragraph 4 is amended as follows:
In the event that the operation of the SSP or the T2S Platform, as referred to in Annex II, is relocated from one region (Region 1) to another region (Region 2), the participants shall endeavour to reconcile their positions up to the point of the failure or the occurrence of the abnormal external events and provide to the ECB all relevant information in this respect.«
point (b) is replaced by the following:
Følgende litra c) tilføjes:
In the event that the operation of the SSP or the T2S Platform, as referred to in Annex II, is relocated from one region (Region 1) to another region (Region 2), the participants shall endeavour to reconcile their positions up to the point of the failure or the occurrence of the abnormal external events and provide to the ECB all relevant information in this respect.’;
Where a PM to DCA liquidity transfer order is debited on the participant's PM account on the SSP in Region 1, but, after reconciliation, is not shown as debited on the SSP in Region 2, the CB responsible for the participant shall debit the participant's PM account in Region 2 to return the participant's PM account balance to the level it had prior to the relocation.«
the following point (c) is added:
I tillæg IV erstattes punkt 8, litra c), af følgende:
Where a PM to DCA liquidity transfer order is debited on the participant's PM account on the SSP in Region 1, but, after reconciliation, is not shown as debited on the SSP in Region 2, the CB responsible for the participant shall debit the participant's PM account in Region 2 to return the participant's PM account balance to the level it had prior to the relocation.’;
Any costs incurred by the participants as a result of such testing or other arrangements shall be borne solely by the participants.«
in Appendix IV, paragraph 8(c) is replaced by the following:
I tillæg VI tilføjes følgende tekst:
Any costs incurred by the participants as a result of such testing or other arrangements shall be borne solely by the participants.’;
A fixed monthly fee of EUR 1000 to be charged to each ancillary system (Fixed Fee I).
in Appendix VI, the following text is added:
A second monthly fixed fee of between EUR 417 and EUR 8334, in proportion to the underlying gross value of the ancillary system's euro cash settlement transactions (Fixed Fee II):
A fixed monthly fee of EUR 1000 to be charged to each ancillary system (Fixed Fee I).
for Option B, the limits of the bands relating to volume of payment instructions are divided by two, and
A second monthly fixed fee of between EUR 417 and EUR 8334, in proportion to the underlying gross value of the ancillary system's euro cash settlement transactions (Fixed Fee II).
Per transmission«
for Option B, the limits of the bands relating to volume of payment instructions are divided by two; and
»Main PM account« means the PM account to which a DCA is linked and to which any remaining balance will be automatically repatriated at the end of the day,«
Per transmission’;
Indledningen til artikel 16, stk. 3, erstattes af følgende: »An agreement is to be signed between the Eurosystem CBs and the connected NCBs, on the one hand, and all CSDs participating in T2S, on the other hand, on the exchange of information in the event of the insolvency of a participant, and the liability of each of the signatories to the agreement.
Annex II to Decision ECB/2007/7 is amended as follows:
Two weeks after the ECB has confirmed to all of the agreement's signatories that procedures for the exchange of the abovementioned information have been established and approved by all parties thereto, the rules provided for in paragraph 2 shall be replaced by the following:«
in Article 1, the following definitions are replaced:
Artikel 24 ændres som følger:
“auto-collateralisation” means intraday credit granted by the euro area national central bank (NCB) in central bank money triggered when a DCA holder has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow), or with securities already held by the DCA holder (collateral on stock).
»For the purposes of this paragraph, the taking of resolution action within the meaning of Directive 2014/59/EU against a DCA holder shall not automatically qualify as the opening of insolvency proceedings.«
For the purposes of Article 16, all three transactions are deemed to have been entered into the system and deemed to be irrevocable at the same time as the transaction for the granting of the auto-collateralisation,’;
Stk. 4, litra a), erstattes af følgende:
“Main PM account” means the PM account to which a DCA is linked and to which any remaining balance will be automatically repatriated at the end of the day,’;
Such a message shall be deemed to have been issued by the home CB of the DCA holder and PM account holder that receives the message.«
The introductory paragraph of Article 16(3) is replaced by the following:
I tillæg IV erstattes punkt 7, litra b), af følgende:
‘An agreement is to be signed between the Eurosystem CBs and the connected NCBs, on the one hand, and all CSDs participating in T2S, on the other hand, on the exchange of information in the event of the insolvency of a participant, and the liability of each of the signatories to the agreement.
Any costs incurred by the DCA holders as a result of such testing or other arrangements shall be borne solely by the DCA holders.«
Two weeks after the ECB has confirmed to all of the agreement's signatories that procedures for the exchange of the abovementioned information have been established and approved by all parties thereto, the rules provided for in paragraph 2 shall be replaced by the following:’;
Tillæg VI erstattes af følgende:
Article 24 is amended as follows:
»APPENDIX VI
‘For the purposes of this paragraph, the taking of resolution action within the meaning of Directive 2014/59/EU against a DCA holder shall not automatically qualify as the opening of insolvency proceedings’;
Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).«
In the event that the ECB suspends or terminates a DCA holder's participation in TARGET2-ECB under paragraph 1 or 2, the ECB shall immediately inform, by means of an ICM broadcast message or a T2S broadcast message, that DCA holder, other CBs and DCA holders and PM account holders in all of the TARGET2 component systems of such suspension or termination.
Intra-balance movement (i.e. blocking, unblocking, reservation of liquidity etc.)
Such a message shall be deemed to have been issued by the home CB of the DCA holder and PM account holder that receives the message.’;
Formand for ECB
in Appendix IV, paragraph 7(b) is replaced by the following:
Den Europæiske Centralbanks afgørelse (EU) 2016/810
Decision (EU) 2016/810 of the European Central Bank
om den anden række af målrettede langfristede markedsoperationer (ECB/2016/10)
on a second series of targeted longer-term refinancing operations (ECB/2016/10)
under henvisning til statutten for Det Europæiske System af Centralbanker og Den Europæiske Centralbank, særlig artikel 3.1, første led, artikel 12.1, artikel 18.1, andet led, og artikel 34.1, andet led, og
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular the first indent of Article 3.1, Article 12.1, the second indent of Article 18.1 and the second indent of Article 34.1 thereof,