natgillin/translations-raw huggingface dataset:
Tabel 2 --- System med øremærkning Dato Udestående transaktioner Startdato Slutdato Rentesats Tilført likviditet
Table 2 --- Earmarking system Date Outstanding transactions Start date End date Interest rate Liquidity provided
28.7.2004 Primær markedsoperation 29.7.2004 Primær markedsoperation Langfristet markedsoperation 30.7.2004 Primær markedsoperation Langfristet markedsoperation 2.8.2004 Primær markedsoperation Langfristet markedsoperation 3.8.2004 Primær markedsoperation Langfristet markedsoperation 4.8.2004 Primær markedsoperation Langfristet markedsoperation 5.8.2004 Primær markedsoperation Langfristet markedsoperation
28.7.2004 Main refinancing 29.7.2004 Main refinancing Longer-term refinancing 30.7.2004 Main refinancing Longer-term refinancing 2.8.2004 Main refinancing Longer-term refinancing 3.8.2004 Main refinancing Longer-term refinancing 4.8.2004 Main refinancing Longer-term refinancing 5.8.2004 Main refinancing Longer-term refinancing
Øvre tærskelværdi Justeret kursværdi
Upper trigger amount Adjusted market value
L 111/62
L 111/62
Tabel 3 --- System med pooling Dato Udestående transaktioner Startdato Slutdato Rentesats Tilført likviditet
Table 3 --- Pooling system Date Outstanding transactions Start date End date Interest rate Liquidity provided
Nedre tærskelværdi ( 1 )
Lower trigger amount ( 1 )
Øvre ) tærskelværdi ( 2 )
Upper trigger amount ( 2 )
--- 5 889 --- 11 778 5 700 29 444 22 800 35 333 28 500 --- 34 200 4 142 39 900 ( 1 ) ( 2 )
--- 5 889 --- 11 778 5 700 29 444 22 800 35 333 28 500 --- 34 200 4 142 39 900 ( 1 ) ( 2 )
I et system med pooling er den nedre tærskelværdi den laveste tærskelværdi for margin calls .
In a pooling system , the lower trigger amount is the lowest threshold for margin calls .
I praksis kræver de fleste nationale centralbanker yderligere sikkerhed , når sikkerhedspuljens kursværdi efter fradrag af haircut falder under den samlede dækningsværdi .
In practice , most national central banks require additional collateral whenever the haircut-adjusted market value of the collateral pool falls below the total amount to be covered .
I et system med pooling er den øvre tærskelværdi ikke relevant , da modparten konstant vil tilstræbe en overskydende sikkerhedsstillelse for at minimere de operationelle transaktioner .
In a pooling system , the notion of upper trigger amount is not relevant , since the counterparty will constantly target an excess amount of collateral provided in order to minimise operational transactions .
L 111/63
L 111/63
Afviklingsagent ( settlement agent ) : En institution , der administrerer afviklingsprocessen ( dvs .
Actual / 360 : the day-count convention applied for the calculation of interest on a credit , implying that the interest is calculated over the actual number of calendar days over which the credit is extended , on the basis of a 360-day year .
Afviklingskonto ( settlement account ) : En konto , som en direkte deltager i et nationalt RTGS-system har hos centralbanken med henblik på afvikling af betalinger . Amerikansk auktion ( American auction ) : Se auktion med flere rentesatser .
The Eurosystem 's minimum reserve system allows 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 .
Auktion ( tender procedure ) : En procedure , hvor centralbanken tilfører markedet likviditet eller opsuger likviditet fra markedet på grundlag af konkurrerende bud afgivet af modparter . De for eurosystemet mest fordelagtige bud accepteres først og så fremdeles , indtil hele det beløb , der skal tilføres eller opsuges , er nået .
Bilateral procedures include operations executed through stock exchanges or market agents . Book-entry system : an accounting system that permits the transfer of securities and other financial assets without the physical movement of paper documents or certificates ( e.g. the electronic transfer of securities ) .
Auktion med en enkelt rentesats ( hollandsk auktion ) ( single rate auction ( Dutch auction )) : En auktion , hvor tildelingsrenten ( eller tildelingskursen eller antal swappoint ved tildelingen ) , der anvendes på alle accepterede bud , er lig med den marginale rente ( eller den marginale kurs eller det marginale antal swappoint ) .
Central securities depository ( CSD ) : an entity which holds and administers securities or other financial assets , holds the issuance accounts , and enables transactions to be processed by book entry . Assets may exist either physically ( but immobilised within the CSD ) or in a dematerialised form ( i.e. only as electronic records ) .
Auktion med flere rentesatser ( amerikansk auktion ) ( multiple rate auction ( American auction )) : En auktion , hvor tildelingsrenten ( eller tildelingskursen eller antal swappoint ved tildelingen ) er lig med renten ( eller kursen eller antal swappoint ) i de enkelte bud . Auktion til fast rente ( fixed rate tender ) : En auktion , hvor renten er fastsat af centralbanken på forhånd , og de deltagende modparter afgiver bud på det ønskede beløb til den faste rente .
Close links : a situation in which the counterparty is linked to an issuer of debt instruments by reason of the fact that : ( i ) the counterparty owns 20 % or more of the capital of the issuer , or one or more undertakings in which the counterparty owns the majority of the capital own 20 % or more of the capital of the issuer , or the counterparty and one or more undertakings in which the counterparty owns the majority of the capital together own 20 % or more of the capital of the issuer ;
Auktion til variabel rente ( variable rate tender ) : En auktionsprocedure , hvor modparterne afgiver bud både på det beløb , de ønsker at handle med centralbanken , og den rentesats , til hvilken de ønsker at indgå transaktionen .
or ( ii ) the issuer owns 20 % or more of the capital of the counterparty , or one or more undertakings in which the issuer owns the majority of the capital own 20 % or more of the capital of the counterparty , or the issuer and one or more undertakings in which the issuer owns the majority of the capital together own 20 % or more of the capital of the counterparty ;
Betalingsmekanisme , ECBs ( ECB payment mechanism ( EPM )) : ECBs eget betalingssystem , der er tilsluttet Target med henblik på i ) betalinger mellem konti hos ECB og ii ) betalinger via Target mellem konti hos ECB og de nationale centralbanker .
or ( iii ) a third party owns both the majority of the capital of the counterparty and the majority of the capital of the issuer , either directly or indirectly , through one or more undertakings in which that third party owns the majority of the capital .
Bilateral procedure ( bilateral procedure ) : En procedure , hvor centralbanken handler direkte med en eller kun få modparter uden brug af auktionsprocedurer . Bilaterale procedurer omfatter også operationer udført via børser eller mæglere .
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 .
Bruttoafviklingssystem ( gross settlement system ) : Et afviklingssystem , hvor afvikling eller overførsel af værdipapirer sker pr. ordre .
In a pooling system , by contrast with an earmarking system , the underlying assets are not earmarked for individual transactions .
Dematerialisering ( dematerialisation ) : Eliminering af fysiske beviser eller adkomstdokumenter , der giver ejendomsret til finansielle aktiver , så de finansielle aktiver kun eksisterer i elektronisk form .
Collection of fixed-term deposits : a monetary policy instrument that may be used by the Eurosystem for fine-tuning purposes , where the Eurosystem offers remuneration on counterparties » fixed-term deposits on accounts with the national central banks in order to absorb liquidity from the market .
Depotinstitution ( custodian ) : En institution , der opbevarer og varetager administrationen af værdipapirer og andre finansielle aktiver på andres vegne .
Correspondent banking : an arrangement under which one credit institution provides payment and other services to another credit institution . Payments through correspondents are often executed through reciprocal accounts ( nostro and loro accounts ) to which standing credit lines may be attached .
Depotkonto ( safe custody account ) : En værdipapirkonto administreret af centralbanken , hvor kreditinstitutter kan anbringe værdipapirer , som vurderes egnede til sikkerhedsstillelse i centralbankoperationer .
Correspondent banking services are primarily provided across international boundaries but are also known as agency relationships in some domestic contexts . A loro account is the term used by a correspondent to describe an account held on behalf of a foreign credit institution ;
L 111/64 DA
the foreign credit institution would in turn regard this account as its nostro account . L 111/64
Egentlig købs - eller salgsforretning ( outright transaction ) : En forretning , hvor centralbanken køber eller sælger aktiver i markedet ( spot eller termin ) .
Correspondent central banking model ( CCBM ) : a mechanism established by the European System of Central Banks with the aim of enabling counterparties to use underlying assets in a cross-border context .
Ekstraordinær auktion ( quick tender ) : Den auktionsprocedure , som eurosystemet benytter i forbindelse med finjusterende operationer , når der ønskes en hurtig påvirkning af likviditetsforholdene i markedet .
In the CCBM , national central banks act as custodians for one another .
Ekstraordinære auktioner udføres med en tidsramme på 90 minutter og retter sig mod en begrænset kreds af modparter . Elektronisk bogføringssystem ( book-entry system ) : Et regnskabssystem , der giver mulighed for overførsel af værdipapirer og andre finansielle aktiver , uden at papirerne eller beviserne flyttes fysisk ( fx elektronisk overførsel af værdipapirer ) .
This means that each national central bank has a securities account in its securities administration for each of the other national central banks ( and for the ECB ) . Counterparty : the opposite party in a financial transaction ( e.g. any transaction with the central bank ) .
Se også dematerialisering . Endelig overførsel ( final transfer ) : En uigenkaldelig og betingelsesløs overførsel med frigørende virkning fra forpligtelsen til at foretage overførslen .
Credit institution : refers in this document to an institution covered by the definition contained in Article 1 ( 1 ) of Directive 2000/12 / EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions , as amended by Directive 2000/28 / EC of the European Parliament and of the Council of 18 September 2000 .
Euroområdet ( euro area ) : Området , som omfatter de EU-medlemsstater , der har indført euroen som fælles valuta i overensstemmelse med traktaten , og hvor ECBs styrelsesråd har ansvaret for den fælles pengepolitik . Europæiske System af Centralbanker , Det ( European System of Central Banks ( ESCB )) : ESCB består af Den Europæiske Centralbank ( ECB ) og de nationale centralbanker i EUs medlemsstater .
Thus , a credit institution is : ( i ) an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credit for its own account , or ( ii ) an undertaking or any other legal person , other than those under ( i ) , which issues means of payment in the form of electronic money .
Det bemærkes , at de nationale centralbanker i de medlemsstater , der ikke har indført den fælles valuta i overensstemmelse med traktaten , bevarer deres pengepolitiske beføjelser i henhold til national lovgivning og således ikke deltager i gennemførelsen af eurosystemets pengepolitik . Eurosystemet ( Eurosystem ) : Omfatter Den Europæiske Centralbank ( ECB ) og de nationale centralbanker i medlemsstaterne i euroområdet .
« Electronic money » shall mean monetary value as represented by a claim on the issuer which is : ( a ) stored on an electronic device , ( b ) issued on receipt of funds of an amount not lower in value than the monetary value issued , and ( c ) accepted as a means of payment by undertakings other than the issuer .
Eurosystemets bankdage ( Eurosystem business day ) : De dage , hvor ECB og mindst én national centralbank er åbne for udførelse af eurosystemets pengepolitiske operationer .
Cross-border settlement : a settlement which takes place in a country other than the country or countries in which one or both of the parties to the trade are located .
EØS-lande ( Det Europæiske Økonomiske Samarbejdsområde ) ( EEA ( European Economic Area )) : EU-medlemsstaterne og Island , Liechtenstein og Norge .
Custodian : an entity which undertakes the safekeeping and administration of securities and other financial assets on behalf of others .
Faktisk / 360 ( actual / 360 ) : Den rentekonvention , der anvendes ved beregning af rente på et lån .
Day-count convention : the convention regulating the number of days included in the calculation of interest on credits .
Renten beregnes ud fra det faktiske antal kalenderdage , som lånet løber over , i forhold til et år på 360 dage . Denne rentekonvention anvendes i eurosystemets pengepolitiske operationer .
The Eurosystem applies the day-count convention actual / 360 in its monetary policy operations .
Fast forrentet instrument ( fixed rate instrument ) : Et finansielt instrument , hvor kuponrenten er fast i hele instrumentets løbetid . Finjusterende operation ( fine tuning operation ) : En markedsoperation , der udføres på ad hoc-basis af eurosystemet med det primære formål at imødegå uventede likviditetsudsving i markedet .
Delivery versus payment ( DVP ) or delivery against payment system : a mechanism in an exchange-for-value settlement system which ensures that the final transfer of assets ( securities or other financial instruments ) occurs if , and only if , the final transfer of another asset ( or other assets ) occurs . Dematerialisation : the elimination of physical certificates or documents of title which represent ownership of financial assets so that the financial assets exist only as accounting records .
Fradrag i reservekravsgrundlaget ( standardised deduction ) : Den faste procentdel af udestående gældsinstrumenter med en aftalt løbetid på op til 2 år ( inkl . pengemarkedspapirer ) , som udstedere , der ikke kan dokumentere størrelsen af deres passiver af denne type over for andre institutter underlagt eurosystemets reservekravssystem , over for ECB eller over for en national centralbank , kan udelade af deres reservekravsgrundlag .
Deposit facility : a standing facility of the Eurosystem which counterparties may use to make overnight deposits at a national central bank , which are remunerated at a pre-specified interest rate . Depository : an agent with the primary role of recording securities either physically or electronically and keeping records of the ownership of these securities .
Genkøbsforretning ( repurchase agreement ) : En forretning , hvor et aktiv sælges , og sælger samtidig berettiges og forpligtes til at købe det tilbage til en bestemt pris på et givet tidspunkt i fremtiden eller på anfordring .
Deposits redeemable at notice : the instrument category consisting of deposits for which the holder has to respect a fixed period of notice before being able to withdraw the funds .
En sådan forretning svarer til lån mod sikkerhed med den forskel , at sælger ikke beholder ejendomsretten til værdipapirerne .
In some cases , there is the possibility of withdrawing a certain fixed amount in a specific period or of earlier withdrawal subject to the payment of a penalty .
Genkøbspris ( repurchase price ) : Den pris , til hvilken køber er forpligtet til at sælge aktiverne tilbage til sælger i en genkøbsforretning . Genkøbsprisen svarer til summen af salgsprisen og renten på den tilførte likviditet i operationens løbetid .
Deposits with agreed maturity : the instrument category consisting mainly of time deposits with a given maturity which , depending on national practices , may be either unconvertible prior to maturity or convertible only subject to a penalty .
Gennemsnitsfacilitet ( averaging provision ) : En facilitet , der giver modparterne mulighed for at opfylde deres reservekrav på grundlag af deres gennemsnitlige reservekravsindeståender i løbet af reservekravsperioden . Gennemsnitsfaciliteten bidrager til at stabilisere pengemarkedsrenten ved at give institutterne et incitament til at udjævne virkningerne af midlertidige likviditetsudsving .
This category also encompasses some non-marketable debt instruments , such as non-marketable ( retail ) certificates of deposit . Dutch auction : see single rate auction .
Eurosystemets reservekravssystem indeholder en gennemsnitsfacilitet . Grænseoverskridende afvikling ( cross-border settlement ) : Afvikling i et andet land end det eller de lande , hvor en af eller begge handlens parter befinder sig .
Earmarking system : a system for central banks » collateral management where liquidity is provided against assets earmarked for each individual transaction . ECB time : the time of the place in which the ECB is located .
Haircut ( valuation haircut ) : Et risikostyringsinstrument , der anvendes i forbindelse med underliggende aktiver i tilbageførselsforretninger . Det indebærer , at centralbanken beregner værdien af de underliggende aktiver som aktivets kursværdi minus en vis procentdel ( haircut ) .
ECB payment mechanism ( EPM ) : the payment arrangements organised within the ECB and connected to the TARGET system for the purpose of effecting : ( i ) payments between accounts held at the ECB , and ( ii ) payments through the TARGET system between accounts held at the ECB and at the national central banks .
Eurosystemet anvender haircuts , der afspejler karakteristika ved de pågældende aktiver , fx restløbetid . Handelsdag ( H ) ( trade date ( T )) : Den dag , hvor en handel ( dvs .
EEA ( European Economic Area ) countries : the EU Member States and Iceland , Liechtenstein and Norway .
en aftale om en finansiel transaktion mellem to modparter ) indgås . Handelsdagen kan falde sammen med transaktionens afviklingsdag ( afvikling samme dag ) eller gå forud for afviklingsdagen med et bestemt antal bankdage ( afviklingsdagen angives som H + afviklingsforskydning ) .
End-of-day : the time of the business day ( after the TARGET system has closed ) at which the payments processed in the TARGET system are finalised for the day . Euro area : the area encompassing the EU Member States which have adopted the euro as their single currency in accordance with the Treaty and in which a single monetary policy is conducted under the responsibility of the Governing Council of the ECB .
Hollandsk auktion ( Dutch auction ) : Se auktion med en enkelt rentesats . Højeste budbeløb ( maximum bid limit ) : Den øvre grænse for de bud , der accepteres fra modparterne i en auktion .
European System of Central Banks ( ESCB ) : refers to the European Central Bank ( ECB ) and the national central banks of the EU Member States .
Eurosystemet kan fastsætte et højeste budbeløb for at hindre uforholdsmæssigt høje bud fra modparterne . Højeste budrente ( maximum bid rate ) : Den øvre grænse for den rente , til hvilken modparterne kan afgive bud i auktioner til variabel rente .
It should be noted that the national central banks of those Member States which have not adopted the single currency in accordance with the Treaty retain their powers in the field of monetary policy according to national law and are thus not involved in the conduct of the monetary policy of the Eurosystem .
Bud til en rente , der ligger over den højeste budrente fastsat af ECB , afvises . Indlån med opsigelsesvarsel ( deposits redeemable at notice ) : Denne kategori omfatter opsparingsindskud med et fast opsigelsesvarsel , der skal overholdes , før midlerne kan hæves .
Eurosystem : comprises the European Central Bank ( ECB ) and the national central banks of the Member States of the euro area . The decision-making bodies of the Eurosystem are the Governing Council and the Executive Board of the ECB .
Det er i visse tilfælde muligt at hæve et fast beløb i en given periode eller hæve midlerne tidligere mod et strafgebyr . Indlånsfaciliteten ( deposit facility ) : En stående facilitet i eurosystemet , som modparterne kan anvende til at foretage indlån på anfordring i en national centralbank , og som forrentes til en på forhånd fastsat rentesats .
Eurosystem business day : any day on which the ECB and at least one national central bank are open for the purpose of conducting Eurosystem monetary policy operations . Final transfer : an irrevocable and unconditional transfer which effects a discharge of the obligation to make the transfer .
Initialmargin ( initial margin ) : Et risikostyringsinstrument , som eurosystemet kan anvende i tilbageførselsforretninger .
Fine-tuning operation : a non-regular open market operation executed by the Eurosystem mainly in order to deal with unexpected liquidity fluctuations in the market .
Værdien af de aktiver , der stilles som sikkerhed i forbindelse med en transaktion skal svare til den kredit , der ydes modparten , plus initialmarginen . Instrument med invers variabel rente ( inverse floating rate instrument ) : En struktureret fordring , hvor den rente , der udbetales til indehaveren , varierer i omvendt forhold til ændringerne i en bestemt referencerente .
Fixed rate instrument : a financial instrument for which the coupon is fixed throughout the life of the instrument . Fixed rate tender : a tender procedure where the interest rate is specified in advance by the central bank and participating counterparties bid the amount of money they want to transact at the fixed interest rate .
Instrument med variabel rente ( floating rate instrument ) : Et finansielt instrument , hvor kuponrenten jævnligt tilpasses efter et referenceindeks , så den afspejler ændringer i de korte eller mellemlange markedsrenter .
Floating rate instrument : a financial instrument for which the coupon is periodically reset relative to a reference index to reflect changes in short or medium-term market interest rates . Floating rate instruments have either pre-fixed coupons or post-fixed coupons .
Instrumenter med variabel rente har enten kuponrente , der fastsættes på forhånd eller kuponrente , der fastsættes ved forfald .
Foreign exchange swap : the simultaneous spot purchase / sale and forward sale / purchase of one currency against another .
Interlinking-mekanisme ( Interlinking mechanism ) : Interlinking-mekanismen er en del af Target , som omfatter de fælles procedurer og den infrastruktur , der giver mulighed for at udføre betalingsordrer på tværs af de indenlandske RTGS-systemer . Intradag kredit ( intraday credit ) : Kredit , der ydes i et tidsrum på under en bankdag .
The Eurosystem executes open market monetary policy operations in the form of foreign exchange swaps where the national central banks ( or the ECB ) buy ( or sell ) euro spot against a foreign currency and at the same time sell ( or buy ) it back in a forward transaction . Gross settlement system : a transfer system in which the settlement of funds or the transfer of securities occurs on an instruction-by-instruction basis .
Centralbankerne kan yde intradag kredit for at udligne forskelle i afregningsbeløb , og kreditten ydes i form af i ) overtræk mod sikkerhed eller ii ) lån mod pant eller via en genkøbsforretning .
Initial margin : a risk control measure that may be applied by the Eurosystem in reverse transactions , implying that the collateral required for a transaction is equal to the credit extended to the counterparty plus the value of the initial margin .
L 111/66
L 111/66