natgillin/translations-raw huggingface dataset:
 sgm sqÝvotra irosilßa ( re peqßpsxrg pqÜnexm amsakkacÞy molirlÜsxm ) ,  so oqiajü apodejsü episüjio / silÞ / lomÜda bÜrgy swap jai so pororsü jasamolÞy rso oqiajü episüjio / silÞ / lomÜda bÜrgy swap ( re peqßpsxrg dglopqariþm amsacxmirsijoý episojßot ) ,  so ekÜvirso jai lÝcirso episüjio pqoruoqÜy jai so lÝro rsahlijü episüjio sgy jasamolÞy ( rsgm peqßpsxrg dglopqariþm pokkapkoý episojßot ) ,  sgm gleqolgmßa Ýmaqngy jai kÞnexy sgy pqÜngy ( eÜm euaqlüfesai ) Þ gleqolgmßa anßay jai gleqolgmßa kÞnexy sot sßskot ( rsgm peqßpsxrg sgy Ýjdorgy pirsopoigsijþm vqÝoty ) ,  so ekÜvirso porü jasamolÞy amÜ amsirtlbakkülemo ( eÜm tpÜqvei ) ,  so ekÜvirso pororsü jasamolÞy ( eÜm tpÜqvei ) ,  sgm omolarsijÞ anßa sxm pirsopoigsijþm vqÝoty ( rsgm peqßpsxrg Ýjdorgy pirsopoigsijþm vqÝoty ) ,  som jxdijü ISIN sgy Ýjdorgy ( rsgm peqßpsxrg Ýjdorgy pirsopoigsijþm vqÝoty ) .
 the spot exchange rate ( in the case of foreign exchange swaps ) ,  the marginal interest rate / price / swap point accepted and the percentage of allotment at the marginal interest rate / price / swap point ( in the case of variable rate tenders ) ,  the minimum bid rate , maximum bid rate and weighted average allotment rate ( in the case of multiple rate auctions ) ,  the start date and maturity date of the operation ( if applicable ) or the value date and maturity date of the instrument ( in the case of the issuance of debt certificates ) ,  the minimum individual allotment amount ( if any ) ,  the minimum allotment ratio ( if any ) ,  the denomination of the certificates ( in the case of the issuance of debt certificates ) , and  the ISIN code of the issue ( in the case of the issuance of debt certificates ) .
Oi ehmijÝy jemsqijÝy sqÜpefey ha epibebaiþmotm so jasamelülemo porü apetheßay re jÜhe amsirtlbakkülemo pot tpÝbake epistvÞ pqoruoqÜ .
The national central banks will directly certify the individual allotment result to successful counterparties .
Diadijarßey cia siy dileqeßy pqÜneiy a ) Ce m i j Ü Oi ehmijÝy jemsqijÝy sqÜpefey lpoqoým ma diemeqcoým pqÜneiy lÝrx dileqþm diadijariþm ( 30 ) .
Procedures for bilateral operations ( a ) G e n e r a l c o n s i d e r a t i o n s The national central banks may execute operations on the basis of bilateral procedures ( 30 ) .
Oi diadijarßey atsÝy lpoqoým ma vqgrilopoighoým re pqÜneiy amoijsÞy acoqÜy cia sgm enolÜktmrg sxm bqavtvqümixm diajtlÜmrexm sgy qetrsüsgsay jai re diaqhqxsijÝy oqirsijÝy pqÜneiy .
These procedures may be used for fine-tuning open market operations and structural outright operations .
Oqßfomsai le etqeßa Ýmmoia xy opoierdÞpose diadijarßey lÝrx sxm opoßxm so Etqxrýrsgla diemeqceß rtmakkacÝy le Ýmam amsirtlbakkülemo Þ le kßcoty amsirtlbakkolÝmoty vxqßy dglopqarßa .
They are defined in a broad sense as any procedures where the Eurosystem conducts a transaction with one or a few counterparties without a tender .
Oi dileqeßy diadijarßey diajqßmomsai re dýo diauoqesijÜ eßdg : re ejeßmey rsiy opoßey so Etqxrýrsgla Ýqvesai apetheßay re epauÞ le soty amsirtlbakkolÝmoty jai re ejeßmey pot ejsekoýmsai lÝrx vqglasirsgqßot jai lerokabgsþm sgy acoqÜy .
In this respect , two different types of bilateral procedures can be distinguished : operations where counterparties are contacted directly by the Eurosystem , and operations executed through stock exchanges and market agents .
b ) Apetheßay epauÞ le soty amsirtlbakkolÝmoty R » atsÞ sg diadijarßa , oi ehmijÝy jemsqijÝy sqÜpefey Ýqvomsai apetheßay re epauÞ le Ýmam Þ kßcoty ecvþqioty amsirtlbakkolÝmoty , oi opoßoi epikÝcomsai rýluxma le sa jqisÞqia pot jahoqßfomsai rsgm emüsgsa 2.2 .
( b ) D i r e c t c o n t a c t w i t h c o u n t e r p a r t i e s In this procedure , the national central banks directly contact one or a few domestic counterparties , which are selected according to the criteria specified in Section 2.2 .
Rýluxma le siy ajqibeßy odgcßey sgy EJS , oi ehmijÝy jemsqijÝy sqÜpefey apouarßfotm am ha rtmÜwotm rtmakkacÞ le soty amsirtlbakkolÝmoty .
According to the precise instructions given by the ECB , the national central banks decide whether to enter into a deal with the counterparties .
Oi rtmakkacÝy diajamomßfomsai lÝrx sxm ehmijþm jemsqijþm sqapefþm .
The transactions are settled through the national central banks .
EÜm jai euürom so Dioijgsijü Rtlboýkio sgy EJS apouarßrei üsi , re enaiqesijÝy peqipsþreiy , oi dileqeßy pqÜneiy lpoqoým ma ejsekoýmsai apü sgm ßdia sgm EJS ( Þ apü lßa Þ kßcey ehmijÝy jemsqijÝy sqÜpefey oi opoßey aposekoým ejsekersijÜ üqcama sgy EJS ) , oi diadijarßey ci » atsÝy siy pqÜneiy ha pqoraqlorsoým amakücxy .
If the Governing Council of the ECB were to decide that , under exceptional circumstances , bilateral operations could also be executed by the ECB itself ( or by one or a few national central banks acting as the operating arm of the ECB ) , the procedures for such operations would be adapted accordingly .
R » atsÞ sgm peqßpsxrg , g EJS ( Þ oi ehmijÝy jemsqijÝy sqÜpefey oi opoßey aposekoým ejsekersijÜ üqcama sgy EJS ) ha Ýqvomsai apetheßay re epauÞ le Ýmam Þ kßcoty amsirtlbakkolÝmoty rsg fþmg sot etqþ , oi opoßoi ha epikÝcomsai rýluxma le sa jqisÞqia pot jahoqßfomsai rsgm emüsgsa 2.2 .
In this case , the ECB ( or the national central bank ( s ) acting as the operating arm of the ECB ) would directly contact one or a few counterparties in the euro area , selected according to the criteria specified in Section 2.2 .
G EJS ( Þ oi ehmijÝy jemsqijÝy sqÜpefey oi opoßey aposekoým ejsekersijÜ üqcama sgy EJS ) ha apouarßfotm am ha rtmÜwotm rtmakkacÞ le soty amsirtlbakkolÝmoty .
The ECB ( or the national central bank ( s ) acting as the operating arm of the ECB ) would decide whether to enter into a deal with the counterparties .
Jai pÜki ülxy oi rtmakkacÝy ha diajamomßfomsai le apojemsqxlÝmo sqüpo lÝrx sxm ehmijþm jemsqijþm sqapefþm .
The transactions would nevertheless be settled in a decentralised manner through the national central banks .
Oi dileqeßy pqÜneiy lÝrx apetheßay epauÞy le soty amsirtlbakkolÝmoty lpoqoým ma euaqlorsoým cia siy amsirsqepsÝey pqÜneiy , siy oqirsijÝy pqÜneiy , siy pqÜneiy amsakkacÞy molirlÜsxm jai sgm apodovÞ jasahÝrexm jahoqirlÝmgy diÜqjeiay .
Bilateral operations through direct contact with counterparties can be applied for reverse transactions , outright transactions , foreign exchange swaps and the collection of fixed-term deposits .
c ) PqÜneiy pot ejsekoýmsai lÝrx vqglasirsgqßot jai lerokabgsþm sgy acoqÜy Oi ehmijÝy jemsqijÝy sqÜpefey lpoqoým ma ejsekoým oqirsijÝy pqÜneiy lÝrx vqglasirsgqßot jai lerokabgsþm sgy acoqÜy .
( c ) O p e r a t i o n s e x e c u t e d t h r o u g h s t o c k e x c h a n g e s a n d m a r k e t a g e n t s The national central banks can execute outright transactions through stock exchanges and market agents .
Ci » atsÝy siy pqÜneiy so uÜrla sxm amsirtlbakkolÝmxm dem peqioqßfesai a priori jai oi diadijarßey pqoraqlüfomsai rsgm jahieqxlÝmg pqajsijÞ sgy acoqÜy cia sa vqeücqaua pot ha vqgrilopoighoým .
For these operations , the range of counterparties is not restricted a priori and the procedures are adapted to the market conventions for the debt instruments transacted .
So Dioijg ( 30 ) So Dioijgsijü Rtlboýkio sgy EJS ha apouarßrei am , re enaiqesijÝy peqipsþreiy , oi dileqeßy pqÜneiy enolÜktmrgy sxm bqavtvqümixm diajtlÜmrexm sgy qetrsüsgsay lpoqoým ma ejsekoýmsai jai apü sgm ßdia sgm EJS .
The Governing Council of the ECB will ( 30 ) The Governing Council of the ECB will decide whether , under exceptional circumstances , fine-tuning bilateral operations may also be executed by the ECB itself .
Epßrglg Eugleqßda sxm Etqxpaújþm JoimosÞsxm sijü Rtlboýkio sgy EJS ha apouarßrei am , re enaiqesijÝy peqipsþreiy , g ßdia g EJS ( Þ lßa Þ kßcey ehmijÝy jemsqijÝy sqÜpefey oi opoßey aposekoým ejsekersijÜ üqcama sgy EJS ) lpoqeß ma ejsekeß oqirsijÝy pqÜneiy cia sg bqavtvqümia qýhlirg sxm diajtlÜmrexm sgy qetrsüsgsay lÝrx vqglasirsgqßot jai lerokabgsþm sgy acoqÜy .
Official Journal of the European Communities decide whether , under exceptional circumstances , the ECB itself ( or one or a few national central banks acting as the operating arm of the ECB ) may execute fine-tuning outright operations through stock exchanges and market agents .
d ) Amajoßmxrg sxm dileqþm pqÜ nexm Oi dileqeßy pqÜneiy rtmÞhxy dem cmxrsopoioý rso joimü ej sxm pqosÝqxm .
( d ) A n n o u n c e m e n t o f b i l a t e r a l o p e r a t i o n s Bilateral operations are normally not announced publicly in advance .
EpipkÝom , g EJS dýmasai ma apouarßrei ma lg cmxrsopoiÞrei rso joimü sa aposekÝrlasa sxm dileqþm pqÜnexm .
In addition , the ECB may decide not to announce the results of bilateral operations publicly .
e ) GlÝqey diemÝqceiay G EJS lpoqeß ma apouarßrei ma diemeqcÞrei dileqeßy pqÜneiy enolÜktmrgy sxm bqavtvqümixm diajtlÜmrexm sgy qetrsüsgsay opoiadÞpose eqcÜrilg glÝqa sot EtqxrtrsÞlasoy .
( e ) O p e r a t i n g d a y s The ECB may decide to conduct fine-tuning bilateral operations on any Eurosystem business day .
R » atsÝy siy pqÜneiy rtllesÝvotm lümom oi ehmijÝy jemsqijÝy sqÜpefey sxm jqasþm-lekþm rsa opoßa g gleqolgmßa rtmakkacÞy , g gleqolgmßa diajamomirloý jai g gleqolgmßa enüukgrgy eßmai eqcÜriley glÝqey cia sgm EhmJS .
Only national central banks of Member States where the trade day , the settlement day and the reimbursement day are NCB business days participate in such operations .
Oi dileqeßy oqirsijÝy pqÜneiy cia diaqhqxsijoýy rjopoýy jamomijÜ diemeqcoýmsai jai diajamomßfomsai lümom jasÜ siy glÝqey pot eßmai eqcÜriley cia siy EhmJS ükxm sxm jqasþm-lekþm .
Outright bilateral operations for structural purposes are normally only conducted and settled on days which are NCB business days in all Member States .
Diadijarßey diajamomirloý CemijÜ Oi vqglasijÝy rtmakkacÝy pot rtmdÝomsai le sg vqÞrg sxm pÜcixm dietjokýmrexm sot EtqxrtrsÞlasoy Þ le sg rtllesovÞ re pqÜneiy amoijsÞy acoqÜy diajamomßfomsai lÝrx sxm kocaqiarlþm pot sgqoým oi amsirtlbakkülemoi rsiy ehmijÝy jemsqijÝy sqÜpefey ( Þ re kocaqiarloýy sqapefþm diajamomirloý pot rtllesÝvotm rso TARGET ) .
General considerations Money transactions relating to the use of Eurosystem standing facilities or to participation in open market operations are settled on the counterparties » accounts with the national central banks ( or on the accounts of settlement banks participating in TARGET ) .
Oi vqglasijÝy rtmakkacÝy diajamomßfomsai lümom euürom Ývei Þdg cßmei ( Þ cßmesai satsüvqoma ) g oqirsijÞ lesabßbarg sxm peqiotriajþm rsoiveßxm pot vqgrilopoioýmsai xy aruÜkeia cia sgm pqÜng .
Money transactions are settled only after ( or at the moment of ) the final transfer of the assets underlying the operation .
Atsü rglaßmei üsi sa peqiotriajÜ rsoiveßa pot vqgrilopoioýmsai xy aruÜkeia pqÝpei eßse ma Ývotm jasaseheß ej sxm pqosÝqxm re kocaqiarlü aruakoýy uýkangy rsiy ehmijÝy jemsqijÝy sqÜpefey eßse ma diajamomirsoým lÝrx emdogleqÞriay paqÜdorgy Ýmamsi pkgqxlÞy ( delivery-versus-payment ) le siy em kücx ehmijÝy jemsqijÝy sqÜpefey .
This implies that underlying assets need either to have been pre-deposited in a safe custody account at the national central banks or to be settled on an intraday delivery-versus-payment basis with the said national central banks .
G lesabßbarg sxm peqiotriajþm rsoiveßxm pot vqgrilopoioýmsai xy aruÜkeia pqaclasopoießsai lÝrx sxm kocaqiarlþm diajamomirloý sßskxm pot sgqoým oi amsirtlbakkülemoi re rtrsÞlasa diajamomirloý sßskxm ( RDS ) pot amsapojqßmomsai rsa ekÜvirsa sgy EJS ( 31 ) .
The transfer of underlying assets is executed via the counterparties » securities settlement accounts with SSSs fulfilling the ECB 's minimum standards ( 31 ) .
Oi amsirtlbakkülemoi pot dem diahÝsotm kocaqiarlü aruakoýy uýkangy re ehmijÞ jemsqijÞ sqÜpefa Þ kocaqiarlü diajamomirloý sßskxm re jÜpoio RDS pot amsapojqßmesai rsa ekÜvirsa pqüstpa sgy EJS lpoqoým ma diajamomßfotm siy rtmakkacÝy epß sxm sßskxm pot vqgrilopoioýmsai xy aruÜkeia lÝrx sot kocaqiarloý diajamomirloý sßskxm Þ sot kocaqiarloý aruakoýy uýkangy emüy pirsxsijoý idqýlasoy-amsapojqisoý .
Counterparties without a safe custody account with a national central bank or a securities settlement account with an SSS fulfilling the ECB 's minimum standards may settle the transactions of underlying assets through the securities settlement account or the safe custody account of a correspondent credit institution .
PeqaisÝqx diasÜneiy pot auoqoým siy diadijarßey diajamomirloý pqobkÝpomsai rsiy rtlbasijÝy qthlßreiy pot euaqlüfotm oi ehmijÝy jemsqijÝy sqÜpefey ( Þ g EJS ) cia sa rtcjejqilÝma lÝra molirlasijÞy pokisijÞy .
Further provisions related to the settlement procedures are defined in the contractual arrangements applied by the national central banks ( or the ECB ) for the specific monetary policy instruments .
Oi diadijarßey diajamomirloý emdÝvesai ma diauÝqotm ekauqÜ lesaný sxm ehmijþm jemsqijþm sqapefþm kücx diauoqþm xy pqoy so ehmijü dßjaio Þ xy pqoy sgm pqajsijÞ sxm rtmakkacþm .
The settlement procedures may differ slightly between national central banks owing to differences in national law and operational practices .
Diajamomirlüy pqÜnexm amoijsÞy acoqÜy Oi pqÜneiy amoijsÞy acoqÜy pot barßfomsai re sajsijÝy dglopqarßey ( dgkadÞ oi pqÜneiy jýqiay amavqglasodüsgrgy , oi pqÜneiy pio lajqopqüherlgy amavqglasodüsgrgy jai oi diaqhqxsijÝy pqÜneiy ) diajamomßfomsai jamomijÜ sgm epülemg glÝqa lesÜ sgm gleqolgmßa rtmakkacÞy , jasÜ sgm opoßa epülemg glÝqa keisotqcoým üka sa amsßrsoiva ehmijÜ RDRV jai üka sa amsßrsoiva RDS .
Open market operations based on standard tenders ( i.e. main refinancing operations , longer-term refinancing operations and structural operations ) are normally settled on the first day following the trade day on which all relevant national RTGS systems and all relevant SSSs are open .
So Etqxrýrsgla cia kücoty aqvÞy epidiþjei ma diajamomßfomsai oi rtmakkacÝy pot rvesßfomsai le siy pqÜneiy amoijsÞy acoqÜy sot satsüvqoma re üka sa jqÜsg lÝkg le ükoty soty amsirtlbakkolÝmoty pot Ývotm pqoruÝqei epaqjÞ peqiotriajÜ rsoiveßa xy aruÜkeia .
As a matter of principle , the Eurosystem aims to settle the transactions related to its open market operations at the same time in all Member States with all counterparties that have provided sufficient underlying assets .
Xrsüro , enaisßay keisotqcijþm peqioqirlþm jai kücx sxm sevmijþm vaqajsgqirsijþm sxm RDS , g ajqibÞy þqa sgy glÝqay jasÜ sgm opoßa diajamomßfomsai oi pqÜneiy amoijsÞy acoqÜy emdÝvesai ma lg rtlpßpsei re oküjkgqg sg fþmg sot etqþ .
However , owing to operational constraints and the technical features of SSSs , the timing within the day of the settlement of open market operations may differ across the euro area .
O vqümoy diajamomirloý sxm pqÜnexm jýqiay amavqglasodüsgrgy jai pio lajqopqüherlgy amavqglasodüsgrgy rtlpßpsei jamomijÜ le so vqümo enüukgrgy liay pqogcoýlemgy pqÜngy le amsßrsoivg diÜqjeia .
The time of settlement of the main and the longer-term refinancing operations normally coincides with the time of reimbursement of a previous operation of corresponding maturity .
So Etqxrýrsgla epidiþjei ma diajamomßfomsai athgleqüm oi pqÜneiy amoijsÞy acoqÜy pot barßfomsai re Ýjsajsey dglopqarßey jai re dileqeßy diadijarßey .
The Eurosystem aims to settle open market operations based on quick tenders and bilateral procedures on the trade day .
Xrsüro , so Etqxrýrsgla lpoqeß cia keisotqcijoýy kücoty ma euaqlüfei jasÜ jaiqoýy Ükkey glÝqolgmßey diajamomirloý ci » atsÝy siy pqÜneiy , idßxy cia siy oqirsijÝy pqÜneiy ( pot diemeqcoýmsai cia rjopoýy enolÜktmrgy sxm bqavtvqümixm diajtlÜmrexm sgy qetrsüsgsay , jahþy jai cia diaqhqxsijoýy rjopoýy ) jai cia siy pqÜneiy amsakkacÞy molirlÜsxm ( bkÝpe Pßmaja 3 ) .
However , the Eurosystem may , for operational reasons , occasionally apply other settlement dates for these operations , in particular for outright transactions ( for fine-tuning as well as structural purposes ) and foreign exchange swaps ( see Table 3 ) .
( 31 ) PeqicqauÞ sxm pqosýpxm cia sg vqÞrg sxm apodejsþm RDV rsg fþmg sot etqþ jai emgleqxlÝmoy jasÜkocoy sxm apodejsþm rtmdÝrexm lesaný atsþm sxm rtrsglÜsxm dglorieýomsai rsgm irsorekßda sgy EJS ( www.ecb.int ) .
( 31 ) The description of the standards for the use of eligible SSSs in the euro area and an updated list of the eligible links between these systems can be found on the ECB 's website ( www.ecb.int ) .
Epßrglg Eugleqßda sxm Etqxpaújþm JoimosÞsxm PIMAJAR 3 RtmÞheiy gleqolgmßey diajamomirloý sxm pqÜnexm amoijsÞy acoqÜy sot EtqxrtrsÞlasoy ( 1 ) Gleqolgmßa diajamomirloý sxm pqÜnexm Gleqolgmßa diajamomirloý sxm pqÜnexm pot barßfomsai re sajsijÝy dglopqa - pot barßfomsai re sajsijÝy dglopqarßey Þ re dileqeßy diadijarßey rßey
Official Journal of the European Communities TABLE 3 Normal settlement dates for Eurosystem open market operations ( 1 ) Settlement date for operations based on standard tenders Settlement date for operations based on quick tenders or bilateral procedures
LÝro molirlasijÞy pokisijÞy
Monetary policy instrument
AmsirsqepsÝey pqÜneiy OqirsijÝy pqÜneiy ¸ jdorg pirsopoigsijþm vqÝoty PqÜneiy amsakkacÞy molirlÜsxm ApodovÞ jasahÝrexm jahoqirlÝmgy diÜqjeiay
Reverse transactions Outright transactions Issuance of debt certificates Foreign exchange swaps Collection of fixed-term deposits
S + 1 ( 1 )  S + 1  
T + 1 ( 1 )  T + 1  
S Rýluxma le sgm jahieqxlÝmg pqajsijÞ sgy acoqÜy cia soty sßskoty  S , S + 1 Þ S + 2 S
T According to market convention for underlying assets  T , T + 1 or T + 2 T
( 1 ) T eßmai g gleqolgmßa rtmakkacÞy .
( 1 ) T refers to the trade day .
Xy gleqolgmßa diajamomirloý moeßsai eqcÜrilg glÝqa sot EtqxrtrsÞlasoy .
The settlement date refers to Eurosystem business days .
( 2 ) EÜm g jamomijÞ glÝqa diajamomirloý cia siy pqÜneiy jýqiay amavqglasodüsgrgy Þ siy pqÜneiy pio lajqovqümiay amavqglasodüsgrgy rtlpßpsei le epßrglg aqcßa , g EJS dýmasai le apüuarÞ sgy ma euaqlürei diauoqesijÞ gleqolgmßa diajamomirloý , ajülg jai athgleqüm diajamomirlü .
( 2 ) If the normal settlement date for the main or the longer-term refinancing operations coincides with a bank holiday , the ECB may decide to apply a different settlement date , with the option of same-day settlement .
Oi gleqolgmßey diajamomirloý cia siy pqÜneiy jýqiay jai pio lajqovqümiay amavqglasodüsgrgy jahoqßfomsai ej sxm pqosÝqxm rso gleqokociajü pqücqalla dglopqariþm sot EtqxrtrsÞlasoy ( bkÝpe Emüsgsa 5.1.2 ) .
The settlement dates for the main and the longer-term refinancing operations are specified in advance in the Eurosystem 's tender operations calendar ( see Section 5.1.2 ) .
Diadijarßey sÝkoty glÝqay Oi diadijarßey sÝkoty glÝqay jahoqßfomsai rsgm sejlgqßxrg pot auoqÜ sa ehmijÜ RDRV jai so rýrsgla TARGET .
End-of-day procedures The end-of-day procedures are specified in documentation related to the national RTGS systems and the TARGET system .
JasÜ cemijü jamüma , so rýrsgla TARGET jkeßmei rsiy 6 l.l. þqa EJS ( þqa JemsqijÞy Etqþpgy ) .
As a general rule , the closing time for the TARGET system is 6 p.m. ECB time ( CET ) .
LesÜ sgm þqa jkeirßlasoy dem cßmomsai dejsÝy emsokÝy pkgqxlÞy cia epeneqcarßa rsa ehmijÜ RDRV , paqüsi rtmevßfesai g epeneqcarßa sxm emsokþm pkgqxlÞy pot eßvam paqakguheß pqim apü sgm þqa jkeirßlasoy .
No further payment orders are accepted for processing in the national RTGS systems after the closing time , although remaining payment orders accepted before the closing time are still processed .
Oi aisÞreiy sxm amsirtlbakkolÝmxm cia pqürbarg rsgm pÜcia dietjüktmrg oqiajÞy vqglasodüsgrgy Þ rsg dietjüktmrg apodovÞy jasahÝrexm pqÝpei ma tpobkghoým rsgm oijeßa ehmijÞ jemsqijÞ sqÜpefa so aqcüseqo 30 kepsÜ lesÜ sgm pqaclasijÞ þqa jkeirßlasoy sot TARGET ( 32 ) .
Counterparties » requests for access to the marginal lending facility or to the deposit facility must be submitted to the respective national central bank at the latest 30 minutes after the actual closing time of TARGET ( 32 ) .
Stvüm aqmgsijÜ tpükoipa pot paqalÝmotm rsoty kocaqiarloýy diajamomirloý ( rsa ehmijÜ RDRV ) sxm apodejsþm amsirtlbakkolÝmxm lesÜ sgm oqirsijopoßgrg sxm diadijariþm ekÝcvot sÝkoty glÝqay kocßfomsai atsodijaßxy xy aßsgrg pqorutcÞy rsgm pÜcia dietjüktmrg oqiajÞy vqglasodüsgrgy ( bkÝpe Emüsgsa 4.1 ) .
Any negative balances on the settlement accounts ( in the national RTGS systems ) of eligible counterparties remaining after the finalisation of the end-of-day control procedures are automatically considered to be a request for recourse to the marginal lending facility ( see Section 4.1 ) .
JEUAKAIO 6 6 .
CHAPTER 6 6 .
APODEJSA PEQIOTRIAJA RSOIVEIA CemijÜ So Üqhqo 18.1 sot jasarsasijoý sot ERJS episqÝpei rsgm EJS jai siy ehmijÝy jemsqijÝy sqÜpefey ma rtmakkÜrromsai rsiy vqglasopirsxsijÝy acoqÝy acoqÜfomsay jai pxkþmsay peqiotriajÜ rsoiveßa eßse le oqirsijÝy pqÜneiy eßse le rýluxmo epamacoqÜy jai oqßfei üsi ükey oi pirsxsijÝy pqÜneiy sot EtqxrtrsÞlasoy pqÝpei ma jakýpsomsai apü epaqjÞ aruÜkeia .
General considerations Article 18.1 of the Statute of the ESCB allows the ECB and the national central banks to transact in financial markets by buying and selling underlying assets outright or under repurchase agreements and requires all Eurosystem credit operations to be based on adequate collateral .
Xy ej soýsot , ükey oi pqÜneiy paqovÞy qetrsüsgsay sot EtqxrtrsÞlasoy barßfomsai re peqiotriajÜ rsoiveßa sa opoßa paqÝvotm xy aruÜkeia oi amsirtlbakkülemoi eßse le sg loquÞ lesabßbargy sgy jtqiüsgsay sxm rsoiveßxm atsþm ( rsgm peqßpsxrg sxm oqirsijþm pqÜnexm jai sxm rtluxmiþm epamacoqÜy ) eßse le sgm loquÞ emevýqot ep » atsþm ( üpxy rsgm peqßpsxrg sxm dameßxm Ýmamsi emevýqot ) ( 33 ) .
Consequently , all Eurosystem liquidity-providing operations are based on underlying assets provided by the counterparties either in the form of the transfer of ownership of assets ( in the case of outright transactions or repurchase agreements ) or in the form of a pledge granted over relevant assets ( in the case of collateralised loans ) ( 33 ) .
( 32 ) G pqoherlßa cia sgm aßsgrg pqürbargy rsiy pÜciey dietjokýmreiy sot EtqxrtrsÞlasoy paqaseßmesai epß 30 ajülg kepsÜ sgm seketsaßa eqcÜrilg glÝqa sot EtqxrtrsÞlasoy jÜhe peqiüdot sÞqgrgy ekÜvirsxm apohelasijþm .
( 32 ) The deadline for requesting access to the Eurosystem 's standing facilities is postponed by an additional 30 minutes on the last Eurosystem business day of a minimum reserve maintenance period .
( 33 ) Oi oqirsijÝy jai oi amsirsqepsÝey pqÜneiy amoijsÞy acoqÜy pot aporjopoým rsgm apoqqüugrg qetrsüsgsay barßfomsai epßrgy re peqiotriajÜ rsoiveßa pot paqÝvomsai xy aruÜkeia .
( 33 ) Liquidity-absorbing outright and reverse open market operations are also based on underlying assets .
Cia sca peqiotriajÜ rsoiveßa pot vqgrilopoioýmsai rsiy amsirsqepsÝey pqÜneiy amoijsÞy acoqÜy cia apoqqüugrg qetrsüsgsay , irvýotm sa ßdia jqisÞqia jasakkgküsgsay üpxy jai ci » atsÜ pot vqgrilopoioýmsai rsiy amsirsqepsÝey pqÜneiy amoijsÞy acoqÜy cia paqovÞ qetrsüsgsay .
For underlying assets used in liquidity-absorbing reverse open market operations , the eligibility criteria are identical to those applied for underlying assets used in liquidity-providing reverse open market operations .
Rsiy pqÜneiy apoqqüugrgy qetrsüsgsay ülxy dem euaqlüfomsai oýse aqvijÜ peqihþqia oýse peqijopÝy aposßlgrgy .
However , neither initial margins nor valuation haircuts are applied in liquidity-absorbing operations .
PqojeilÝmot ma pqorsasetheß so Etqxrýrsgla apü fglßey jasÜ sg diemÝqceia sxm pqÜnexm molirlasijÞy pokisijÞy sot , ma enaruakirseß g ßrg lesaveßqirg sxm amsirtlbakkolÝmxm jai ma emirvtheß g aposekerlasijÞ keisotqcßa , pqÝpei sa peqiotriajÜ rsoiveßa pot paqÝvomsai xy aruÜkeia ma pkgqoým oqirlÝma jqisÞqia þrse ma eßmai apodejsÜ rsiy pqÜneiy molirlasijÞy pokisijÞy sot EtqxrtrsÞlasoy .
With the aims of protecting the Eurosystem from incurring losses in its monetary policy operations , ensuring the equal treatment of counterparties and enhancing operational efficiency , underlying assets have to fulfil certain criteria in order to be eligible for Eurosystem monetary policy operations .
Amacmxqßfesai üsi g emaqlümirg sxm jqisgqßxm jasakkgküsgsay re ükg sg fþmg sot etqþ ha rtmÝbake þrse ma enaruakirseß ßrg lesaveßqirg jai aposekerlasijÞ keisotqcßa .
It is recognised that the harmonisation of eligibility criteria throughout the euro area would contribute to ensuring equal treatment and operational efficiency .