natgillin/translations-raw huggingface dataset:
Annex II is amended as follows:
korvataan määritelmissä ja muussa tekstissä liitteessä II ja lisäyksissä ilmaisu ”DCA” ilmaisulla ”T2S DCA”, ilmaisu ”DCA to PM liquidity transfer order” ilmaisulla ”T2S DCA to PM liquidity transfer order”, ilmaisu ”PM to DCA liquidity transfer order” ilmaisulla ”PM to T2S DCA liquidity transfer order”, ilmaisu ”DCA to DCA liquidity transfer order” ilmaisulla ”T2S DCA to T2S DCA liquidity transfer order” ja ilmaisu ”DCA holder” ilmaisulla ”T2S DCA holder”;
The title is replaced by the following:
korvataan termin ”Dedicated Cash Account (DCA)” määritelmä seuraavasti:
‘TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A T2S DEDICATED CASH ACCOUNT (T2S DCA) IN TARGET2’;
”‘T2S Dedicated Cash Account (T2S DCA)’, means an account held by a T2S DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,”;
in the definitions and the rest of the text of Annex II and the Appendices, ‘DCA’ is replaced by ‘T2S DCA’, ‘DCA to PM liquidity transfer order’ is replaced by ‘T2S DCA to PM liquidity transfer order’, ‘PM to DCA liquidity transfer order’ is replaced by ‘PM to T2S DCA liquidity transfer order’, ‘DCA to DCA liquidity transfer order’ is replaced by ‘T2S DCA to T2S DCA liquidity transfer order’, ‘DCA holder’ is replaced by ‘T2S DCA holder’;
korvataan termin ”event of default” määritelmän g alakohta seuraavasti:
the definition of ‘Dedicated Cash Account (DCA)’ is replaced by the following:
where the participant's credit balance on its PM account, T2S DCA or TIPS DCA or all or a substantial part of the participant's assets are subject to a freezing order, attachment, seizure or any other procedure that is intended to protect the public interest or the rights of the participant's creditors;”
‘“T2S Dedicated Cash Account (T2S DCA)”, means an account held by a T2S DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,’;
”‘participant’ or ‘direct participant’ means an entity that holds at least one PM account (PM account holder) and/or one T2S Dedicated Cash Account (T2S DCA holder) and/or one TIPS Dedicated Cash Account (TIPS DCA holder) with a Eurosystem CB,”;
in the definition of ‘event of default’, point (g) is replaced by the following:
korvataan termin ”technical malfunction of TARGET2” määritelmässä ilmaisu ”same-day processing” ilmaisulla ”same-business day processing”;
where the participant's credit balance on its PM account, T2S DCA or TIPS DCA or all or a substantial part of the participant's assets are subject to a freezing order, attachment, seizure or any other procedure that is intended to protect the public interest or the rights of the participant's creditors;’;
lisätään seuraavat määritelmät:
‘“participant” or “direct participant” means an entity that holds at least one PM account (PM account holder) and/or one T2S Dedicated Cash Account (T2S DCA holder) and/or one TIPS Dedicated Cash Account (TIPS DCA holder) with a Eurosystem CB,’;
”‘Information and Control Module (ICM)’ means the SSP module that allows PM account holders to obtain online information and gives them the possibility to submit liquidity transfer orders, manage liquidity and initiate backup payment orders in contingency situations,
in the definition of ‘technical malfunction of TARGET2’, the words ‘same-day processing’ are replaced by the words ‘same-business day processing’;
‘ICM broadcast message’ means information made simultaneously available to all or a selected group of PM account holders via the ICM,
the following definitions are added:
‘TARGET Instant Payment Settlement (TIPS) service’ means the settlement in central bank money of instant payment orders on the TIPS Platform,
‘“Information and Control Module (ICM)” means the SSP module that allows PM account holders to obtain online information and gives them the possibility to submit liquidity transfer orders, manage liquidity and initiate backup payment orders in contingency situations,
‘TIPS Platform’ means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,
“ICM broadcast message” means information made simultaneously available to all or a selected group of PM account holders via the ICM,
‘TIPS Platform-providing NCBs’ means the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the TIPS Platform for the Eurosystem's benefit,
“TARGET Instant Payment Settlement (TIPS) service” means the settlement in central bank money of instant payment orders on the TIPS Platform,
‘TIPS Dedicated Cash Account (TIPS DCA)’ means an account held by a TIPS DCA holder, opened in TARGET2-ECB, and used for the provision of instant payment services to its customers,
“TIPS Platform” means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,
‘instant payment order’ means, in line with the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) scheme, a payment instruction which can be executed 24 hours a day any calendar day of the year, with immediate or close to immediate processing and notification to the payer,
“TIPS Platform-providing NCBs” means the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the TIPS Platform for the Eurosystem's benefit,
‘recall request’ means, in line with the SCT Inst scheme, a message from a TIPS DCA holder requesting reimbursement of a settled instant payment order,
“TIPS Dedicated Cash Account (TIPS DCA)” means an account held by a TIPS DCA holder, opened in TARGET2-ECB, and used for the provision of instant payment services to its customers,
‘positive recall answer’ means, in line with the SCT Inst scheme, a payment order initiated by the receiver of a recall request, in response to a recall request, for the benefit of the sender of that recall request,
“instant payment order” means, in line with the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) scheme, a payment instruction which can be executed 24 hours a day any calendar day of the year, with immediate or close to immediate processing and notification to the payer,
‘PM to TIPS DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from a PM account to a TIPS DCA,
“recall request” means, in line with the SCT Inst scheme, a message from a TIPS DCA holder requesting reimbursement of a settled instant payment order,
‘TIPS DCA to PM liquidity transfer order’ means the instruction to transfer a specified amount of funds from a TIPS DCA to a PM account,”;
“positive recall answer” means, in line with the SCT Inst scheme, a payment order initiated by the receiver of a recall request, in response to a recall request, for the benefit of the sender of that recall request,
korvataan 3 artiklassa ilmaisu ”dedicated cash accounts” ilmaisulla ”T2S Dedicated Cash Accounts”;
“PM to TIPS DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from a PM account to a TIPS DCA,
korvataan 4 artikla seuraavasti:
“TIPS DCA to PM liquidity transfer order” means the instruction to transfer a specified amount of funds from a TIPS DCA to a PM account,’;
”Article 4
in Article 3, the words ‘dedicated cash accounts’ are replaced by the words ‘T2S Dedicated Cash Accounts’;
The rules on the processing of payment orders under these Conditions (Title IV and Appendix I) refer to all payment orders submitted or payments received by any T2S DCA holder.”;
Article 4 is replaced by the following:
muutetaan 6 artikla seuraavasti:
‘Article 4
korvataan 1 kohdan b alakohdan ii alakohta seuraavasti:
The rules on the processing of payment orders under these Conditions (Title IV and Appendix I) refer to all payment orders submitted or payments received by any T2S DCA holder.’;
Any rejection decision shall contain reasons for the rejection.”;
Article 6 is amended as follows:
korvataan 10 artiklan 3 kohta seuraavasti:
in paragraph 1, point (b)(ii) is replaced by the following:
The T2IS and the TARGET2 Securities Information System may be used to obtain information on any event affecting the normal operation of the respective platforms.”;
for entities established outside the EEA, provide a country opinion in the form specified in Appendix III, unless the information and representations to be provided in such country opinion have already been obtained by the ECB in another context.’;
korvataan 12 artiklan 1 kohdassa ilmaisu ”by means of a unique 34-character account number” ilmaisulla ”by means of a unique account number of up to 34 characters”;
paragraph 3 is replaced by the following:
korvataan 14 artiklan 3 kohta seuraavasti:
The ECB may also request any additional information it deems necessary to decide on the application to open a T2S DCA.’;
The T2S Platform attaches its timestamp for the processing of payment orders in the sequence of their receipt.”;
Any rejection decision shall contain reasons for the rejection.’;
muutetaan 16 artikla seuraavasti:
in Article 10, paragraph 3 is replaced by the following:
for all transactions settling on T2S DCAs and which are subject to matching of two separate transfer orders, such transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by the T2S Platform and irrevocable at the moment the transaction has been given the status ‘matched’ on the T2S Platform; or
The T2IS and the TARGET2 Securities Information System may be used to obtain information on any event affecting the normal operation of the respective platforms.’;
as an exception to point (a), for transactions involving one participating CSD having a separate matching component where transfer orders are sent directly to that participating CSD to be matched in its separate matching component, transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by that participating CSD and irrevocable from the moment the transaction has been given the status ‘matched’ on the T2S Platform.
in Article 12(1), the words ‘by means of a unique 34-character account number’ are replaced by the words ‘by means of a unique account number of up to 34 characters’;
A list of CSDs for which this point (b) applies is available on the website of the ECB.”;
in Article 14, paragraph 3 is replaced by the following:
poistetaan 3 kohta.
The T2S Platform attaches its timestamp for the processing of payment orders in the sequence of their receipt.’;
muutetaan 18 artikla seuraavasti:
Article 16 is amended as follows:
”T2S DCA holders shall be exclusively responsible for the adequate protection of the confidentiality, integrity and availability of their systems.”;
for all transactions settling on T2S DCAs and which are subject to matching of two separate transfer orders, such transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by the T2S Platform and irrevocable at the moment the transaction has been given the status “matched” on the T2S Platform; or
”The ECB may request further information about the incident and, if necessary, request that the T2S DCA holders take appropriate measures to prevent a recurrence of such an event.”;
as an exception to point (a), for transactions involving one participating CSD having a separate matching component where transfer orders are sent directly to that participating CSD to be matched in its separate matching component, transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by that participating CSD and irrevocable from the moment the transaction has been given the status “matched” on the T2S Platform.
19 artiklassa
A list of CSDs for which this point (b) applies is available on the website of the ECB.’;
korvataan ilmaisu ”TARGET2 ICM” ilmaisulla ”ICM”;
paragraph 3 is deleted;
korvataan 3 kohdan viimeinen virke seuraavasti:
Article 18 is amended as follows:
”Further technical details relating to the ICM are contained in Appendix I to Annex II to Decision ECB/2007/7.”;
‘T2S DCA holders shall be exclusively responsible for the adequate protection of the confidentiality, integrity and availability of their systems.’;
korvataan 21 artiklan 5 kohta seuraavasti:
in paragraph 2, the second sentence is replaced by the following:
Notwithstanding Sections 675(u), 675(v), 675(x), 675(y), 675(z), 676(a), 676(c) of the German Civil Code (Bürgerliches Gesetzbuch), paragraphs 1 to 4 shall apply to the extent that the ECB's liability can be excluded.”
‘The ECB may request further information about the incident and, if necessary, request that the T2S DCA holders take appropriate measures to prevent a recurrence of such an event.’;
korvataan 24 artiklan 1 kohdan toinen virke seuraavasti:
in Article 19:
”For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU against a T2S DCA holder shall not automatically qualify as the opening of insolvency proceedings.”;
the term ‘TARGET2 ICM’ is replaced by the term ‘ICM’;
korvataan 26 artiklan 3 kohta seuraavasti:
the last sentence of paragraph 3 is replaced by the following:
The ECB shall promptly give the T2S DCA holder notice of any set-off pursuant to paragraph 2 after such set-off has taken place.”;
‘Further technical details relating to the ICM are contained in Appendix I to Annex II to Decision ECB/2007/7.’;
muutetaan 27 artikla seuraavasti:
in Article 21, paragraph 5 is replaced by the following:
By derogation from paragraph 1, the T2S DCA holder agrees that information on any action taken under Article 24 shall not be considered as confidential.”;
Notwithstanding Sections 675(u), 675(v), 675(x), 675(y), 675(z), 676(a), 676(c) of the German Civil Code (Bürgerliches Gesetzbuch), paragraphs 1 to 4 shall apply to the extent that the ECB's liability can be excluded.’
The ECB shall not be liable for the financial and commercial consequences of such disclosure.”;
in Article 24(1), the second sentence is replaced by the following:
korvataan 1 kohdassa ilmaisu ”payment orders” ilmaisulla ”payments”;
‘For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU against a T2S DCA holder shall not automatically qualify as the opening of insolvency proceedings.’;
korvataan 3 kohdan a alakohdan ii alakohta seuraavasti:
in Article 26, paragraph 3 is replaced by the following:
the T2S DCA holder shall not enter any T2S DCA to PM liquidity transfer order or T2S DCA to T2S DCA liquidity transfer order, with the exception of such liquidity transfer orders between different accounts of the same T2S DCA holder, into TARGET2 until it has obtained confirmation from the ECB that the required notification has been made or the consent has been obtained by or on behalf of the payment service provider of the payee;”
The ECB shall promptly give the T2S DCA holder notice of any set-off pursuant to paragraph 2 after such set-off has taken place.’;
korvataan 29 artiklan toinen virke seuraavasti:
Article 27 is amended as follows:
korvataan lisäyksen I otsikko seuraavasti:
By derogation from paragraph 1, the T2S DCA holder agrees that information on any action taken under Article 24 shall not be considered as confidential.’;
”PARAMETERS OF THE T2S DEDICATED CASH ACCOUNTS – TECHNICAL SPECIFICATIONS”;
The ECB shall not be liable for the financial and commercial consequences of such disclosure.’;
korvataan 6 kohdassa olevassa SSP:n aikatauluun liittyvässä taulukossa ”Time”-nimisen ensimmäisen sarakkeen alla olevassa viidennessä rivissä ilmaisu ”1.00–6.45” ilmaisulla ”1.00–7.00”;
in paragraph 1, the words ‘payment orders’ are replaced by the word ‘payments’;
lisätään 7 kohta seuraavasti:
in paragraph 3, point (a)(ii) is replaced by the following:
The information on the operational status of the SSP and the T2S Platform on T2IS, TARGET2-Securities Information System and the ECB's website shall only be updated during normal business hours.”
the T2S DCA holder shall not enter any T2S DCA to PM liquidity transfer order or T2S DCA to T2S DCA liquidity transfer order, with the exception of such liquidity transfer orders between different accounts of the same T2S DCA holder, into TARGET2 until it has obtained confirmation from the ECB that the required notification has been made or the consent has been obtained by or on behalf of the payment service provider of the payee;’;
The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are 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 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, revised version of July 2016.
in Article 29, the second sentence is replaced by the following:
Guideline ECB/2012/27 of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (OJ L 30, 30.1.2013, p. 1).”;
in Appendix I, the title is replaced by the following:
Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).”;
‘PARAMETERS OF THE T2S DEDICATED CASH ACCOUNTS — TECHNICAL SPECIFICATIONS’;
‘Daytime operations’ means daytime processing and end-of-day processing.
in the table in paragraph 6 relating to the SSP schedule, in the fifth row under the first column titled ‘Time’,‘1.00 – 6.45’ is replaced by ‘1.00 – 7.00’;
Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period.”
the following paragraph 7 is added:
LIITE II
The information on the operational status of the SSP and the T2S Platform on T2IS, TARGET2-Securities Information System and the ECB's website shall only be updated during normal business hours.’.
For the purposes of these Terms and Conditions (hereinafter the ‘Conditions’), the following definitions apply:
The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are 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 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, revised version of July 2016.
‘ancillary system’ means a system managed by an entity that is subject to supervision and/or oversight by a competent authority and complies with the oversight requirements for the location of infrastructures offering services in euro, as amended from time to time and published on the ECB's website, in which payments and/or financial instruments are exchanged and/or cleared or recorded with (a) the monetary obligations settled in TARGET2; and/or (b) funds held in TARGET2, in accordance with Guideline ECB/2012/27 and a bilateral arrangement between the ancillary system and the relevant Eurosystem CB,
Guideline ECB/2012/27 of the European Central Bank of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (OJ L 30, 30.1.2013, p. 1).’;
‘authorised account user’ means an entity which: (a) holds a Business Identifier Code (BIC); (b) is registered as such by a TIPS DCA holder; and (c) is addressable through the TIPS Platform for the settlement of instant payments,
Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).’;
‘Business Identifier Code (BIC)’ means a code as defined by ISO Standard No 9362,
“Daytime operations” means daytime processing and end-of-day processing.
‘branch’ means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013,
Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period.’;
‘business day’ or ‘TARGET2 business day’ means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix III,
ANNEX II
‘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,
For the purposes of these Terms and Conditions (hereinafter the “Conditions”), the following definitions apply:
‘central banks (CBs)’ means the Eurosystem CBs and the connected NCBs,
“ancillary system” means a system managed by an entity that is subject to supervision and/or oversight by a competent authority and complies with the oversight requirements for the location of infrastructures offering services in euro, as amended from time to time and published on the ECB's website, in which payments and/or financial instruments are exchanged and/or cleared or recorded with (a) the monetary obligations settled in TARGET2; and/or (b) funds held in TARGET2, in accordance with Guideline ECB/2012/27 and a bilateral arrangement between the ancillary system and the relevant Eurosystem CB,
‘credit memorandum balance (CMB)’ means a limit set by the TIPS DCA holder for the use of liquidity on the TIPS DCA by a specific reachable party,
“authorised account user” means an entity which: (a) holds a Business Identifier Code (BIC); (b) is registered as such by a TIPS DCA holder; and (c) is addressable through the TIPS Platform for the settlement of instant payments,
‘connected NCB’ means a national central bank (NCB), other than a Eurosystem CB, which is connected to TARGET2 pursuant to a specific agreement,
“Business Identifier Code (BIC)” means a code as defined by ISO Standard No 9362,
‘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,
“branch” means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013,
‘deposit facility’ means a Eurosystem standing facility which counterparties may use to make overnight deposits with an NCB at a pre-specified deposit rate,