natgillin/translations-raw huggingface dataset:
--- De udføres som bilaterale procedurer ( som beskrevet i afsnit 5.2 ) .
--- they are executed through bilateral procedures ( as specified in Section 5.2 ) ;
--- De udføres normalt decentralt af de nationale centralbanker ( ECBs styrelsesråd kan beslutte , hvorvidt ECB under særlige omstændigheder selv kan udføre finjusterende rene markedsoperationer af denne type ) .
--- they are normally executed in a decentralised manner by the national central banks ( the Governing Council of the ECB can decide whether , under exceptional circumstances , fine-tuning outright operations may be executed by the ECB ) ;
--- Der er ikke på forhånd fastsat begrænsninger på kredsen af modparter i købs - eller salgsforretninger .
--- no restrictions are placed a priori on the range of counterparties to outright transactions ;
--- Kun liste 1-papirer ( som beskrevet i afsnit 6.1 ) anvendes normalt som underliggende aktiver i egentlige købs - eller salgsforretninger .
and --- only tier one instruments ( as specified in Section 6.1 ) are normally used as underlying assets in outright transactions .
ECBs udstedelse af gældsbeviser a ) Instrumenttype ECB kan udstede gældsbeviser med henblik på at justere eurosystemets strukturelle nettostilling over for den finansielle sektor og dermed skabe ( eller forøge ) et likviditetsunderskud i markedet .
Issuance of ECB debt certificates ( a ) T y p e o f i n s t r u m e n t The ECB may issue debt certificates with the aim of adjusting the structural position of the Eurosystem vis-àvis the financial sector so as to create ( or enlarge ) a liquidity shortage in the market .
b ) J u r i d i s k s t a t u s Beviserne repræsenterer en gældsforpligtelse for ECB over for bevisernes indehavere .
( b ) L e g a l n a t u r e The certificates constitute a debt obligation of the ECB vis-à-vis the holder of the certificate .
Beviserne udstedes og opbevares elektronisk i værdipapircentraler i euroområdet .
The certificates are issued and held in book-entry form in securities depositories in the euro area .
c ) Rentevilkår Beviserne udstedes til underkurs , dvs . til under pålydende værdi , og indfries ved udløb til pålydende værdi .
( c ) I n t e r e s t t e r m s The certificates are issued at a discount , i.e. they are issued at below the nominal amount and are redeemed at maturity at the nominal amount .
Den anvendte rentesats er en simpel rentesats , og der beregnes rente efter konventionen » faktisk / 360 «.
The interest rate applied is a simple interest rate based on the day-count convention « actual / 360 » .
BOKS 1 ECBs udstedelse af gældsbeviser Emissionsværdien er : PT = N × 1 1 + r1 × D 36 000
BOX 1 Issuance of ECB debt certificates The issue amount is : PT = N × 1 1 + r1 × D 36 000
hvor : N = Gældsbevisets pålydende værdi rI = Rentesatsen ( i pct . ) D = Gældsbevisets løbetid ( i dage ) PT = Gældsbevisets emissionsværdi
where : N = nominal amount of the debt certificate rI = interest rate ( as a %) D = maturity of the debt certificate ( in days ) PT = issue amount of the debt certificate
d ) A n d r e o p e r a t i o n e l l e k a r a k t e r i s t i k a De operationelle karakteristika ved ECBs gældsbeviser kan opsummeres som følger : --- Beviserne udstedes for at opsuge likviditet fra markedet .
( d ) O t h e r o p e r a t i o n a l f e a t u r e s The operational features of the issuance of ECB debt certificates can be summarised as follows : --- the certificates are issued in order to absorb liquidity from the market ;
--- Beviserne kan udstedes regelmæssigt eller ikke regelmæssigt .
--- the certificates can be issued on a regular or non-regular basis ;
Den Europæiske Unions Tidende --- Beviserne har en løbetid på under 12 måneder .
Official Journal of the European Union --- the certificates have a maturity of less than 12 months ;
--- Beviserne udstedes gennem standardauktioner ( som beskrevet i afsnit 5.1 ) .
--- the certificates are issued through standard tenders ( as specified in Section 5.1 ) ;
--- Beviserne udbydes og afvikles decentralt gennem de nationale centralbanker .
--- the certificates are tendered and settled in a decentralised manner by the national central banks ;
--- Alle modparter , der opfylder de overordnede adgangskriterier ( som beskrevet i afsnit 2.1 ) , kan afgive bud på ECBs gældsbeviser .
and --- all counterparties fulfilling the general eligibility criteria ( as specified in Section 2.1 ) may submit bids for the subscription of ECB debt certificates .
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Valutaswaps a ) Instrumenttype Valutaswaps , der udføres af pengepolitiske årsager , består af samtidige spot - og terminsforretninger , hvor euro handles mod en udenlandsk valuta .
Foreign exchange swaps ( a ) T y p e o f i n s t r u m e n t Foreign exchange swaps executed for monetary policy purposes consist of simultaneous spot and forward transactions in euro against a foreign currency .
De anvendes med henblik på finjustering , hovedsagelig for at kontrollere likviditetsforholdene i markedet og styre renten .
They are used for fine-tuning purposes , mainly with the aim of managing the liquidity situation in the market and steering interest rates .
b ) J u r i d i s k s t a t u s Valutaswaps , der udføres af pengepolitiske årsager , er operationer , hvor eurosystemet køber ( eller sælger ) euro spot mod en udenlandsk valuta og samtidig forpligter sig til at sælge ( eller købe ) dem tilbage på et givet tidspunkt i fremtiden .
( b ) L e g a l n a t u r e Foreign exchange swaps executed for monetary policy purposes refer to operations where the Eurosystem buys ( or sells ) euro spot against a foreign currency and , at the same time , sells ( or buys ) it back in a forward transaction at a specified repurchase date .
Yderligere bestemmelser vedrørende valutaswaps er angivet i de kontraktmæssige bestemmelser , som den pågældende nationale centralbank ( eller ECB ) anvender .
Further provisions for foreign exchange swaps are specified in the contractual arrangement applied by the respective national central bank ( or the ECB ) .
Eurosystemet foretager som hovedregel kun transaktioner i valutaer , der handles meget , og i overensstemmelse med standardpraksis i markedet .
( c ) C u r r e n c y a n d e x c h a n g e r a t e t e r m s As a rule , the Eurosystem operates only in widely traded currencies and in accordance with standard market practice .
I alle valutaswaps aftaler eurosystemet og modparterne swappoint for transaktionen .
In each foreign exchange swap operation , the Eurosystem and the counterparties agree on the swap points for the transaction .
Swappointene er forskellen mellem valutakursen for terminsforretningen og valutakursen for spotforretningen .
The swap points are the difference between the exchange rate of the forward transaction and the exchange rate of the spot transaction .
Swappointene for euro mod den udenlandske valuta noteres i henhold til de almindelige markedskonventioner .
The swap points of the euro vis-à-vis the foreign currency are quoted according to general market conventions .
Kursvilkårene for valutaswaps er angivet i boks 2 .
The exchange rate terms of foreign exchange swaps are specified in Box 2 .
BOKS 2 Valutaswaps S = Spotkursen ( på transaktionsdagen for valutaswappen ) mellem euro ( EUR ) og en udenlandsk valuta ABC x × ABC 1 × EUR
BOX 2 Foreign exchange swaps S = spot ( on the transaction date of the foreign exchange swap ) of the exchange rate between the euro ( EUR ) and a foreign currency ABC x × ABC 1 × EUR
S =
S =
FM = Terminskursen mellem euro og ABC på tilbagekøbsdagen for swappen ( M ) FM = y × ABC 1 × EUR
FM = forward exchange rate between the euro and a foreign currency ABC on the repurchase date of the swap ( M ) y × ABC 1 × EUR FM =
ΔM = Swappoint mellem euro og ABC på tilbagekøbsdagen for swappen ( M ) Δ M = FM À S N (.
ΔM = forward points between the euro and ABC on the repurchase date of the swap ( M ) Δ M = FM À S N (.
) = Spotbeløb ;
) = spot amount of currency ;
) M er terminsbeløbet : NðABCÞ = NðEURÞ × S eller NðEURÞ = NðABCÞ S NðABCÞM FM
) M is the forward amount of currency : NðABCÞ = NðEURÞ × S or NðEURÞ = NðABCÞ S NðABCÞM FM
NðABCÞM = NðEURÞM × FM eller NðEURÞM =
NðABCÞM = NðEURÞM × FM or NðEURÞM =
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d ) A n d r e o p e r a t i o n e l l e k a r a k t e r i s t i k a De operationelle karakteristika ved valutaswaps kan opsummeres som følger : --- De kan tilføre eller opsuge likviditet .
( d ) O t h e r o p e r a t i o n a l f e a t u r e s The operational features of foreign exchange swaps can be summarised as follows : --- they can take the form of liquidity-providing or liquidity-absorbing operations ;
--- De udføres gennem ekstraordinære auktioner eller bilaterale procedurer ( se kapitel 5 ) .
--- they are executed through quick tenders or bilateral procedures ( see Chapter 5 ) ;
--- De udføres normalt decentralt af de nationale centralbanker ( ECBs styrelsesråd kan beslutte , hvorvidt ECB under særlige omstændigheder selv kan udføre bilaterale valutaswaps ) .
--- they are normally executed in a decentralised manner by the national central banks ( the Governing Council of the ECB can decide whether , under exceptional circumstances , bilateral foreign exchange swaps may be executed by the ECB ) ;
--- Eurosystemet kan ifølge kriterierne i afsnit 2.2 og bilag 3 udvælge et begrænset antal modparter , der kan deltage i valutaswaps .
and --- the Eurosystem may select , according to the criteria specified in Section 2.2 and Annex 3 , a limited number of counterparties to participate in foreign exchange swaps .
Tidsindskud fra modparter a ) Instrumenttype Eurosystemet kan åbne for , at modparter kan placere forrentede tidsindskud hos de nationale centralbanker i den medlemsstat , hvor modparten er etableret .
Collection of fixed-term deposits ( a ) T y p e o f i n s t r u m e n t The Eurosystem may invite counterparties to place remunerated fixed-term deposits with the national central bank in the Member State in which the counterparty is established .
b ) J u r i d i s k s t a t u s Modparternes indskud har fast løbetid og rentesats .
( b ) L e g a l n a t u r e The deposits accepted from counterparties are for a fixed term and with a fixed rate of interest .
De nationale centralbanker stiller ingen sikkerhed for disse indskud .
No collateral is given by the national central banks in exchange for the deposits .
c ) Rentevilkår Rentesatsen for tidsindskud er en simpel rentesats , og der beregnes rente efter konventionen » faktisk / 360 «. Renterne udbetales ved indskuddets udløb .
( c ) I n t e r e s t t e r m s The interest rate applied to the deposit is a simple interest rate based on the day-count convention « actual / 360 » .
d ) A n d r e o p e r a t i o n e l l e k a r a k t e r i s t i k a De operationelle karakteristika ved modtagelse af tidsindskud kan opsummeres som følger : --- Indskuddene har til formål at opsuge likviditet .
Interest is paid at maturity of the deposit . ( d ) O t h e r o p e r a t i o n a l f e a t u r e s The operational features of the collection of fixed-term deposits can be summarised as follows : --- the deposits are collected in order to absorb liquidity ;
--- Frekvensen for modtagelse af indskud er ikke standardiseret .
--- the frequency with which deposits are collected is not standardised ;
--- Indskuddenes løbetid er ikke standardiseret .
--- the maturity of the deposits is not standardised ;
--- Modtagelse af indskud sker normalt gennem ekstraordinære auktioner , men anvendelse af bilaterale procedurer er ikke udelukket ( se kapitel 5 ) .
--- the collection of deposits is normally executed through quick tenders , although the possibility of using bilateral procedures is not excluded ( see Chapter 5 ) ;
--- Indskuddene modtages normalt decentralt gennem de nationale centralbanker ( ECBs styrelsesråd kan beslutte , hvorvidt ECB under særlige omstændigheder selv bilateralt kan modtage tidsindskud ( 17 )) .
--- the collection of deposits is normally executed in a decentralised manner by the national central banks ( the Governing Council of the ECB can decide whether , under exceptional circumstances , the bilateral collection of fixed-term deposits ( 17 ) may be executed by the ECB ) ;
--- Eurosystemet kan ifølge kriterierne i afsnit 2.2 udvælge et begrænset antal modparter i forbindelse med modtagelse af tidsindskud .
and --- the Eurosystem may select , according to the criteria specified in Section 2.2 , a limited number of counterparties for the collection of fixed-term deposits .
( 17 ) Tidsindskud indsættes på konti hos de nationale centralbanker .
( 17 ) Fixed-term deposits are held on accounts with the national central banks ;
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a ) Instrumenttype
( a ) T y p e o f i n s t r u m e n t
Ved hjælp af den marginale udlånsfacilitet kan modparterne opnå dag-til-dag likviditet fra de nationale centralbanker til en på forhånd fastsat rente mod sikkerhed i belånbare aktiver ( som beskrevet i kapitel 6 ) .
Counterparties may use the marginal lending facility to obtain overnight liquidity from national central banks at a pre-specified interest rate against eligible assets ( as set out in Chapter 6 ) .
b ) Juridisk status
( b ) L e g a l n a t u r e
De nationale centralbanker kan tilbyde likviditet gennem den marginale udlånsfacilitet i form af enten dagtil-dag genkøbsforretninger ( dvs . ejendomsretten til aktivet overgår til kreditor , samtidig med at parterne aftaler , at aktivet tilbageføres til debitor den efterfølgende bankdag ) eller dag-til-dag lån mod sikkerhed ( dvs .
The national central banks may provide liquidity under the marginal lending facility either in the form of overnight repurchase agreements ( i.e. the ownership of the asset is transferred to the creditor , while the parties agree to reverse the transaction through a re-transfer of the asset to the debtor on the next business day ) or as overnight collateralised loans ( i.e. an enforceable security interest is provided over the assets but , assuming fulfilment of the debt obligation , ownership of the asset is retained by the debtor ) .
Yderligere forhold vedrørende genkøbsforretninger er angivet i de kontraktmæssige bestemmelser , som den pågældende nationale centralbank anvender .
Further provisions for repurchase agreements are specified in the contractual arrangements applied by the respective national central bank .
I aftaler om lån mod sikkerhed tages der højde for de forskellige procedurer og regler , der gælder i de forskellige retssystemer med hensyn til at fastslå og efterfølgende realisere en ret over sikkerheden ( fx en panteret ) .
Arrangements for providing the liquidity in the form of collateralised loans take account of the different procedures and formalities required to enable the establishment and subsequent realisation of a relevant interest in the collateral ( a pledge ) which apply in different jurisdictions .
c )
( c ) A c c e s s c o n d i t i o n s
Betingelser for adgang til faciliteten Institutter , der opfylder de overordnede kriterier for adgang som modparter , som beskrevet i afsnit 2.1 , kan anvende den marginale udlånsfacilitet gennem den nationale centralbank i den medlemsstat , hvor instituttet er beliggende .
Institutions fulfilling the general counterparty eligibility criteria specified in Section 2.1 may access the marginal lending facility . Access to the marginal lending facility is granted through the national central bank in the Member State in which the institution is established .
Den marginale udlånsfacilitet kan kun anvendes på dage , hvor det relevante nationale RTGSsystem ( realtidsbruttoafviklingssystem ) og de ( t ) relevante værdipapirafviklingssystem ( er ) er åbne .
Access to the marginal lending facility is granted only on days when the relevant national real-time gross settlement ( RTGS ) system and the relevant SSS ( s ) are operational .
Negative saldi ultimo bankdagen på modparternes afviklingskonti hos de nationale centralbanker anses automatisk for anmodninger om adgang til den marginale udlånsfacilitet .
At the end of each business day , counterparties » intraday debit positions on their settlement account with the national central banks are automatically considered to be a request for recourse to the marginal lending facility .
Anmodningen skal være modtaget af den nationale centralbank senest 30 minutter efter Targets lukketid , hvis den skal behandles af den nationale centralbank samme dag ( 18 ) ( 19 ) .
For the national central bank to process the request on the same day , the request must be received by the national central bank at the latest 30 minutes after the actual closing time of TARGET ( 18 ) , ( 19 ) .
Som hovedregel lukker Target - systemet kl . 18.00 ECB-tid ( CET ) .
As a general rule , the closing time for the TARGET system is 6 p.m. ECB time ( C.E.T. ) .
Fristen for at anmode om adgang til den marginale udlånsfacilitet forlænges med yderligere 30 minutter på eurosystemets sidste bankdag i en reservekravsperiode .
The deadline for requesting access to the marginal lending facility is postponed by an additional 30 minutes on the last Eurosystem business day of a reserve maintenance period .
I anmodningen angives lånets størrelse , og hvis de underliggende aktiver i forbindelse med transaktionen ikke er forhåndsdeponeret hos den nationale centralbank , specificeres det også , hvilke underliggende aktiver der vil blive leveret til brug for transaktionen .
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 .
Bortset fra kravet om tilstrækkelig sikkerhedsstillelse er der ingen begrænsninger på størrelsen af det lån , der kan optages gennem den marginale udlånsfacilitet .
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 .
( 18 ) I nogle medlemsstater kan den nationale centralbank ( eller nogle af dens filialer ) være lukket for pengepolitiske operationer på visse af eurosystemets bankdage på grund af nationale eller regionale helligdage .
( 18 ) In some Member States , the national central bank ( or some of its branches ) may not be open for the purpose of conducting monetary policy operations on certain Eurosystem business days owing to national or regional bank holidays .
( 19 ) Targets lukkedage oplyses på ECBs websted ( www.ecb.int ) samt eurosystemets websteder ( se bilag 5 ) .
( 19 ) TARGET closing days are announced on the ECB 's website ( www.ecb.int ) , as well as on the Eurosystem websites ( see Annex 5 ) .
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DA d ) Løbetid og rentevilkår
EN
Lån , der ydes gennem denne facilitet , er dag-til-dag lån .
( d ) M a t u r i t y a n d i n t e r e s t t e r m s The maturity of credit extended under the facility is overnight .
For modparter , der deltager direkte i Target , forfalder lånet den næste dag , hvor det relevante nationale RTGS-system og de ( t ) relevante værdipapirafviklingssystem ( er ) er åbne , på disse systemers åbningstidspunkt .
For counterparties participating directly in TARGET , the credit is repaid on the next day on which the relevant national RTGS system and the relevant SSS ( s ) are operational , at the time at which those systems open .
Renten annonceres af eurosystemet på forhånd og beregnes med en simpel rentesats efter rentekonventionen » faktisk / 360 «.
The interest rate is announced in advance by the Eurosystem and is calculated as a simple interest rate based on the day-count convention « actual / 360 » .
ECB kan til enhver tid ændre renten med virkning tidligst fra eurosystemets næste bankdag ( 20 ) .
The ECB may change the interest rate at any time , effective , at the earliest , from the following Eurosystem business day ( 20 ) .
Renten forfalder til betaling sammen med lånet .
Interest under the facility is payable with the repayment of the credit .
e ) Suspension af faciliteten Adgang til faciliteten gives kun i overensstemmelse med ECBs mål og overordnede pengepolitiske hensyn .
( e ) S u s p e n s i o n o f t h e f a c i l i t y Access to the facility is granted only in accordance with the objectives and general monetary policy considerations of the ECB .
ECB kan til enhver tid ændre vilkårene i forbindelse med faciliteten eller suspendere den . 4.2 .
The ECB may adapt the conditions of the facility or suspend it at any time 4.2 .
Indlånsfaciliteten a ) Instrumenttype Ved hjælp af indlånsfaciliteten kan modparterne foretage dag-til-dag indskud hos de nationale centralbanker .
The deposit facility ( a ) T y p e o f i n s t r u m e n t Counterparties can use the deposit facility to make overnight deposits with national central banks .
Under normale omstændigheder udgør renten for faciliteten gulvet for dag-til-dag markedsrenten .
Under normal circumstances , the interest rate on the facility provides a floor for the overnight market interest rate .
Der gælder samme vilkår for brug af indlånsfaciliteten i hele euroområdet ( 21 ) .
The terms and conditions of the deposit facility are identical throughout the euro area ( 21 ) .
b ) Juridisk status Modparternes dag-til-dag indskud forrentes med en fast rentesats .
( b ) L e g a l n a t u r e The overnight deposits accepted from counterparties are remunerated at a fixed rate of interest .
Modparterne modtager ikke sikkerhedsstillelse for indskuddene .
No collateral is given to the counterparty in exchange for the deposits .
c ) B e t i n g e l s e r f o r a d g a n g t i l f a c i l i t e t e n ( 22 ) Institutter , der opfylder de overordnede kriterier for adgang som modparter som beskrevet i afsnit 2.1 , kan anvende indlånsfaciliteten gennem den nationale centralbank i den medlemsstat , hvor instituttet er beliggende .
( c ) A c c e s s c o n d i t i o n s ( 22 ) Institutions fulfilling the general counterparty eligibility criteria specified in Section 2.1 may access the deposit facility .
Indlånsfaciliteten kan kun anvendes på dage , hvor det relevante nationale RTGS-system er åbent . Modparten skal anmode den nationale centralbank i den medlemsstat , hvor modparten er beliggende , om at få adgang til indlånsfaciliteten .
Access to the deposit facility is granted through the national central bank in the Member State in which the institution is established . Access to the deposit facility is granted only on days when the relevant national RTGS system is open .
Anmodningen skal være modtaget af den nationale centralbank senest 30 minutter efter Targets lukketid , hvis den skal behandles af den nationale centralbank samme dag .
To be granted access to the deposit facility , the counterparty must send a request to the national central bank in the Member State in which the counterparty is established .
Som hovedregel lukker Target-systemet kl . 18.00 ECB-tid ( CET ) ( 23 ) ( 24 ) .
For the national central bank to process the request on the same day , the request must be received by the national central bank at the latest 30 minutes after the actual closing time of TARGET , which is , as a general rule , 6 p.m. ECB time ( C.E.T. ) ( 23 ) , ( 24 ) .
Fristen for at anmode om adgang til indlånsfaciliteten forlænges med yderligere 30 minutter på eurosystemets sidste bankdag i en reservekravsperiode .
The deadline for requesting access to the deposit facility is postponed by an additional 30 minutes on the last Eurosystem business day of a reserve maintenance period .
I anmodningen angives indskuddets størrelse . Der er ingen begrænsninger på størrelsen af det indskud , som en modpart kan foretage gennem faciliteten .
In the request , the amount to be deposited under the facility is to be stated . There is no limit to the amount a counterparty may deposit under the facility .
d ) Løbetid og rentevilkår Indskud , der foretages gennem denne facilitet , er dag-til-dag indskud .
( d ) M a t u r i t y a n d i n t e r e s t t e r m s The maturity of deposits under the facility is overnight .