natgillin/translations-raw huggingface dataset:
I bilaget affattes følgende definitioner i artikel 1 således:
in the Annex, the following definitions in Article 1 are replaced:
‘available liquidity’ means a credit balance on a participant's PM account and, if applicable, any intraday credit line granted by the relevant euro area NCB in relation to such account but not yet drawn upon;
“available liquidity” means a credit balance on a participant's PM account and, if applicable, any intraday credit line granted by the relevant euro area NCB in relation to such account but not yet drawn upon;
‘event of default’ means any impending or existing event, the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB, including:
“event of default” means any impending or existing event, the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB, including:
‘payment order’ means a credit transfer order, a liquidity transfer order, a direct debit instruction or a PM to DCA liquidity transfer order;
“payment order” means a credit transfer order, a liquidity transfer order, a direct debit instruction or a PM to DCA liquidity transfer order;
‘branch’ means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council;
“branch” means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council;
‘credit institution’ means either: (a) a credit institution within the meaning of point (1) of Article 4(1) of Regulation (EU) No 575/2013 and Section 2(1) no 2 and Section 2(6) no 2 of the (Kreditwesengesetz) KWG, that is subject to supervision by a competent authority; or (b) another credit institution within the meaning of Article 123(2) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority;
“credit institution” means either: (a) a credit institution within the meaning of point (1) of Article 4(1) of Regulation (EU) No 575/2013 and Section 2(1) no 2 and Section 2(6) no 2 of the (Kreditwesengesetz) KWG, that is subject to supervision by a competent authority; or (b) another credit institution within the meaning of Article 123(2) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority;
‘participant’ [or ‘direct participant’] means an entity that holds at least one PM account (PM account holder) and/or one Dedicated Cash Account (DCA holder) with the ECB;
“participant” [or “direct participant”] means an entity that holds at least one PM account (PM account holder) and/or one Dedicated Cash Account (DCA holder) with the ECB;;
I bilaget affattes fodnoten til definitionen af »ancillary system« således:
in the Annex, the footnote to the definition ‘ancillary system’ is replaced by the following:
The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are all available on the ECB's website at www.ecb.europa.eu: (a) the Policy statement on euro payment and settlement systems located outside the euro area of 3 November 1998; (b) The Eurosystem's policy line with regard to consolidation in central counterparty clearing of 27 September 2001; (c) The Eurosystem policy principles on the location and operation of infrastructures settling in euro-denominated payment transactions of 19 July 2007; (d) The Eurosystem policy principles on the location and operation of infrastructures settling euro-denominated payment transactions: specification of ‘legally and operationally located in the euro area’ of 20 November 2008; (e) The Eurosystem oversight policy framework of July 2011, subject to the judgment of 4 March 2015, United Kingdom v European Central Bank, T-496/11, ECLI:EU:T:2015:496.«.
The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are all available on the ECB's website at www.ecb.europa.eu: (a) the Policy statement on euro payment and settlement systems located outside the euro area of 3 November 1998; (b) The Eurosystem's policy line with regard to consolidation in central counterparty clearing of 27 September 2001; (c) The Eurosystem policy principles on the location and operation of infrastructures settling in euro-denominated payment transactions of 19 July 2007; (d) The Eurosystem policy principles on the location and operation of infrastructures settling euro-denominated payment transactions: specification of “legally and operationally located in the euro area” of 20 November 2008; (e) The Eurosystem oversight policy framework of July 2011, subject to the judgment of 4 March 2015, United Kingdom v European Central Bank, T-496/11, ECLI:EU:T:2015:496.’;
I bilaget indsættes følgende definitioner i artikel 1:
in the Annex, the following definitions are inserted in Article 1:
‘Dedicated Cash Account (DCA)’ means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S;
“Dedicated Cash Account (DCA)” means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S;
‘Main PM account’ means the PM account to which a DCA is linked and on which any remaining balance must be automatically repatriated from the DCA at the end of the day;
“Main PM account” means the PM account to which a DCA is linked and on which any remaining balance must be automatically repatriated from the DCA at the end of the day;
‘PM to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from a PM account to a DCA;«.
“PM to DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from a PM account to a DCA;’;
I bilaget indsættes følgende artikel 1a:
in the Annex, the following Article 1a is inserted:
»Article 1a
‘Article 1a
The present Conditions govern the relationship between the ECB and its PM account holder as far the opening and the operation of the PM account is concerned.«.
The present Conditions govern the relationship between the ECB and its PM account holder as far the opening and the operation of the PM account is concerned.’;
I bilaget affattes artikel 3, stk. 1 og 2, således:
in the Annex, paragraphs 1 and 2 of Article 3 are replaced by the following:
any other payment orders in euro addressed to TARGET2 participants.«.
any other payment orders in euro addressed to TARGET2 participants.’;
I bilaget tilføjes stk. 5 og 6 til artikel 10:
in the Annex, the following paragraphs 5 and 6 are added to Article 10:
A PM account holder accepting its PM account to be designated as the Main PM account defined in Annex II shall be bound by any invoices related to the opening and operation of each Dedicated Cash Account linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the DCA holder.
A PM account holder accepting its PM account to be designated as the Main PM account defined in Annex II shall be bound by any invoices related to the opening and operation of each Dedicated Cash Account linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the DCA holder.
A Main PM account holder shall be bound by any invoices, as set out in Appendix VI to this Annex, for the linkage to each DCA to which the PM account is linked.«.
A Main PM account holder shall be bound by any invoices, as set out in Appendix VI to this Annex, for the linkage to each DCA to which the PM account is linked.’;
I bilaget affattes artikel 11 således:
in the Annex, Article 11 is replaced by the following:
»Article 11
‘Article 11
PM to DCA liquidity transfer orders.«.
PM to DCA liquidity transfer orders.’;
I bilaget affattes artikel 13, stk. 2, andet led, således:
in the Annex, the second subparagraph of Article 13(2) is replaced by the following:
»All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.«.
‘All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.’;
I bilaget affattes artikel 32, stk. 2, således:
in the Annex, paragraph 2 of Article 32 is replaced by the following:
The ECB shall not be liable for the financial and commercial consequences of such disclosure.«.
The ECB shall not be liable for the financial and commercial consequences of such disclosure.’;
I bilaget affattes artikel 40, stk. 2, således:
in the Annex, paragraph 2 of Article 40 is replaced by the following:
By requesting a PM account in TARGET2-ECB, applicant participants automatically agree to these Conditions between themselves and in relation to the ECB.«.
By requesting a PM account in TARGET2-ECB, applicant participants automatically agree to these Conditions between themselves and in relation to the ECB.’;
I tillæg I til bilaget tilføjes følgende litra d) til afsnit 8, nr. 8:
in Appendix I to the Annex, the following point (d) is added to paragraph 8(8):
by means of a PM to DCA liquidity transfer order.«.
by means of a PM to DCA liquidity transfer order.’;
I tillæg IV til bilaget affattes afsnit 6, litra d), således:
in Appendix IV to the Annex, paragraph 6(d) is replaced by the following:
The following types of payments shall be considered ‘critical’ and the ECB may decide to initiate contingency processing in relation to them:
The following types of payments shall be considered “critical” and the ECB may decide to initiate contingency processing in relation to them:
DCA to PM liquidity transfer orders.«.
DCA to PM liquidity transfer orders.’;
Tillæg VI til bilaget affattes således:
in the Annex, Appendix VI is replaced by the following:
For the Aggregated Liquidity (AL) mode, the monthly fee shall be EUR 200 for each account included in the AL group.
For the Aggregated Liquidity (AL) mode, the monthly fee shall be EUR 200 for each account included in the AL group.
Payment shall be made at the latest on the tenth working day of that month to the account specified by the ECB and shall be debited from that participant's PM account.«.
In such cases the invoice for the total fees for all the accounts in the CAI group (including the AL group accounts) shall be sent to the CAI group manager.
Bilaget ombenævnes bilag I og dets titel affattes således:
Payment shall be made at the latest on the tenth working day of that month to the account specified by the ECB and shall be debited from that participant's PM account.’;
»BILAG I
the Annex is renamed Annex I, and its title is replaced by the following:
TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A PM ACCOUNT IN TARGET2-ECB«.
‘ANNEX I
Følgende indsættes som bilag II:
TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A PM ACCOUNT IN TARGET2-ECB’;
For the purposes of these Harmonised Conditions (hereinafter the ‘Conditions’) the following definitions apply:
the following Annex II is added:
‘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 held by the DCA holder in favour of the euro area NCB (collateral on stock),
For the purposes of these Harmonised Conditions (hereinafter the “Conditions”) the following definitions apply:
‘Dedicated Cash Account (DCA)’ means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,
“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 held by the DCA holder in favour of the euro area NCB (collateral on stock),
‘Immediate liquidity transfer order’ means an instruction to make a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order in real-time upon the receipt of the said instruction,
“Dedicated Cash Account (DCA)” means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,
‘Predefined liquidity transfer order’ means an instruction to transfer a specified amount of funds from a DCA to a PM account to be executed only once at a defined time or event,
“Immediate liquidity transfer order” means an instruction to make a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order in real-time upon the receipt of the said instruction,
‘Liquidity adjustment’ means the authorisation given by the DCA holder, to its participating CSD or the ECB by special contractual arrangement duly documented and registered in the Static Data to initiate liquidity transfers between a DCA and a PM Account, or between two DCAs,
“Predefined liquidity transfer order” means an instruction to transfer a specified amount of funds from a DCA to a PM account to be executed only once at a defined time or event,
‘DCA to PM liquidity transfer order’ means the instruction to transfer a specified amount of funds from a DCA to a PM account,
“Liquidity adjustment” means the authorisation given by the DCA holder, to its participating CSD or the ECB by special contractual arrangement duly documented and registered in the Static Data to initiate liquidity transfers between a DCA and a PM Account, or between two DCAs,
‘PM to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from a PM account to a DCA,
“DCA to PM liquidity transfer order” means the instruction to transfer a specified amount of funds from a DCA to a PM account,
‘DCA to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from (i) a DCA to a DCA linked to the same Main PM account; or (ii) from a DCA to a DCA held by the same legal entity,
“PM to DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from a PM account to a DCA,
‘Main PM account’ means the PM Account to which a DCA is linked and on which any remaining balance will be automatically repatriated at end-of-day,
“DCA to DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from (i) a DCA to a DCA linked to the same Main PM account; or (ii) from a DCA to a DCA held by the same legal entity,
‘Standing liquidity transfer order’ means an instruction to transfer a specified amount of cash or ‘all cash’ available in the T2S DCA from a DCA to a PM account to be executed repetitively at a defined time or event in the T2S processing cycle until the order is deleted or the validity period expires,
“Main PM account” means the PM Account to which a DCA is linked and on which any remaining balance will be automatically repatriated at end-of-day,
‘Static Data’ means the set of business objects, specific to a DCA holder or central bank, in T2S and owned respectively by that DCA holder or central bank, that T2S requires to process the transactional data related to that DCA holder or central bank,
“Standing liquidity transfer order” means an instruction to transfer a specified amount of cash or “all cash” available in the T2S DCA from a DCA to a PM account to be executed repetitively at a defined time or event in the T2S processing cycle until the order is deleted or the validity period expires,
‘Business Identifier Code (BIC)’ means a code as defined by ISO Standard No 9362,
“Static Data” means the set of business objects, specific to a DCA holder or central bank, in T2S and owned respectively by that DCA holder or central bank, that T2S requires to process the transactional data related to that DCA holder or central bank,
‘ISO country code’ means a code as defined by ISO Standard No 3166-1,
“Business Identifier Code (BIC)” means a code as defined by ISO Standard No 9362,
‘business day’ means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,
“ISO country code” means a code as defined by ISO Standard No 3166-1,
‘capacity opinion’ means a participant-specific opinion that contains an assessment of a participant's legal capacity to enter into and carry out its obligations under these Conditions,
“business day” means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,
‘central banks (CBs)’ means the Eurosystem CBs and the connected NCBs,
“capacity opinion” means a participant-specific opinion that contains an assessment of a participant's legal capacity to enter into and carry out its obligations under these Conditions,
‘connected NCB’ means an NCB, other than a Eurosystem CB, which is connected to TARGET2 pursuant to a specific agreement,
“central banks (CBs)” means the Eurosystem CBs and the connected NCBs,
‘credit institution’ means either: (a) a credit institution within the meaning of point (1) of Article 4(1) of Regulation (EU) No 575/2013 and, Section 2(1) no 2 and Section 2(6) no 2 of the KWG that is subject to supervision by a competent authority; or (b) another credit institution within the meaning of Article 123(2) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority,
“connected NCB” means an NCB, other than a Eurosystem CB, which is connected to TARGET2 pursuant to a specific agreement,
‘euro area NCB’ means the NCB of a Member State whose currency is the euro,
“credit institution” means either: (a) a credit institution within the meaning of point (1) of Article 4(1) of Regulation (EU) No 575/2013 and, Section 2(1) no 2 and Section 2(6) no 2 of the KWG that is subject to supervision by a competent authority; or (b) another credit institution within the meaning of Article 123(2) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority,
‘Eurosystem CB’ means the ECB or a euro area NCB,
“euro area NCB” means the NCB of a Member State whose currency is the euro,
‘insolvency proceedings’ means insolvency proceedings within the meaning of Article 2(j) of Directive 98/26/EC,
“Eurosystem CB” means the ECB or a euro area NCB,
‘TARGET2 network service provider’ means a provider of computerised network connections appointed by the ECB's Governing Council for the purpose of submitting payment messages in TARGET2,
“insolvency proceedings” means insolvency proceedings within the meaning of Article 2(j) of Directive 98/26/EC,
‘T2S network service provider’ means an undertaking that has concluded a licence agreement with the Eurosystem to provide connectivity services in the context of T2S,
“TARGET2 network service provider” means a provider of computerised network connections appointed by the ECB's Governing Council for the purpose of submitting payment messages in TARGET2,
‘payee’, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be credited as a result of a payment order being settled,
“T2S network service provider” means an undertaking that has concluded a licence agreement with the Eurosystem to provide connectivity services in the context of T2S,
‘payer’, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be debited as a result of a payment order being settled,
“payee”, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be credited as a result of a payment order being settled,
‘payment order’ means a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order,
“payer”, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be debited as a result of a payment order being settled,
‘Payments Module (PM)’ means an SSP module in which payments of TARGET2 participants are settled on PM accounts,
“payment order” means a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order,
‘PM account’ means an account held by a TARGET2 participant in the PM with a Eurosystem CB which is necessary for such TARGET2 participant to:
“Payments Module (PM)” means an SSP module in which payments of TARGET2 participants are settled on PM accounts,
‘Single Shared Platform (SSP)’ means the single technical platform infrastructure provided by the SSP-providing NCBs,
“PM account” means an account held by a TARGET2 participant in the PM with a Eurosystem CB which is necessary for such TARGET2 participant to:
‘TARGET2-Securities (T2S)’ or ‘T2S Platform’ means the set of hardware, software and other technical infrastructure components through which the Eurosystem provides the services to participating CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,
“Single Shared Platform (SSP)” means the single technical platform infrastructure provided by the SSP-providing NCBs,
‘SSP-providing NCBs’ means the Deutsche Bundesbank, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the SSP for the Eurosystem's benefit,
“TARGET2-Securities (T2S)” or “T2S Platform” means the set of hardware, software and other technical infrastructure components through which the Eurosystem provides the services to participating CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,
’ means the Deutsche Bundesbank, the Banque de France, the Banca d'Italia and Banco de España in their capacity as the CBs building and operating the T2S Platform for the Eurosystem's benefit,
“SSP-providing NCBs” means the Deutsche Bundesbank, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the SSP for the Eurosystem's benefit,
‘static data collection form’ means a form developed by the ECB for the purpose of registering applicants for TARGET2-ECB services and registering any changes in relation to the provision of such services,
“4CBs” means the Deutsche Bundesbank, the Banque de France, the Banca d'Italia and Banco de España in their capacity as the CBs building and operating the T2S Platform for the Eurosystem's benefit,
‘suspension’ means the temporary freezing of the rights and obligations of a participant for a period of time to be determined by the ECB,
“static data collection form” means a form developed by the ECB for the purpose of registering applicants for TARGET2-ECB services and registering any changes in relation to the provision of such services,
‘T2S GUI’ means module on the T2S Platform which allows DCA holders to obtain on-line information and gives them the possibility to submit payment orders,
“suspension” means the temporary freezing of the rights and obligations of a participant for a period of time to be determined by the ECB,
‘TARGET2-ECB’ means the TARGET2 component system of the ECB,
“T2S GUI” means module on the T2S Platform which allows DCA holders to obtain on-line information and gives them the possibility to submit payment orders,