natgillin/translations-raw huggingface dataset:
the definition of ‘PM to DCA liquidity transfer order’ is replaced by the following:
korvataan termin ”technical malfunction of TARGET2” määritelmässä ilmaisu ”same-day processing of payments” ilmasulla ”same business-day processing of payments”;
‘“PM to T2S DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from a PM account to a T2S DCA,’;
lisätään seuraavat määritelmät:
in the definition of ‘technical malfunction of TARGET2’, the words ‘same-day processing of payments’ are replaced by the words ‘same business-day processing of payments’;
”‘TARGET2-Securities (T2S)’ or ‘T2S Platform’ means the set of hardware, software and other technical infrastructure components through which the Eurosystem provides the services to CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,”;
the following definitions are inserted:
”‘TARGET Instant Payment Settlement (TIPS) service’ means the settlement in central bank money of instant payment orders on the TIPS Platform,”;
‘“TARGET2-Securities (T2S)” or “T2S Platform” means the set of hardware, software and other technical infrastructure components through which the Eurosystem provides the services to CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,’,
”‘TIPS Platform’ means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,”;
‘“TARGET Instant Payment Settlement (TIPS) service” means the settlement in central bank money of instant payment orders on the TIPS Platform,’,
”‘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,”;
‘“TIPS Platform” means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,’,
”‘TIPS network service provider’ means an undertaking which has: (a) met all of the necessary conditions to connect to, and established a technical connection to, the TIPS Platform in accordance with the rules and procedures set out in Appendix V to Annex III to Decision ECB/2007/7; and (b) signed the TIPS connectivity hosting terms and conditions which are available on the ECB's website,”;
‘“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,’,
”‘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 network service provider” means an undertaking which has: (a) met all of the necessary conditions to connect to, and established a technical connection to, the TIPS Platform in accordance with the rules and procedures set out in Appendix V to Annex III to Decision ECB/2007/7; and (b) signed the TIPS connectivity hosting terms and conditions which are available on the ECB's website,’,
”‘Linked PM account’ means the PM account with which a TIPS DCA is associated for the purpose of liquidity management and payment of TIPS fees”;
‘“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,’,
”‘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,”;
‘“Linked PM account” means the PM account with which a TIPS DCA is associated for the purpose of liquidity management and payment of TIPS fees,’,
”‘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,”;
‘“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,’,
”‘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,”;
‘“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,’,
”‘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,”;
‘“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,’,
”‘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,”;
‘“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,’,
Acts and omissions of the SSP-providing NCBs shall be considered acts and omissions of the ECB, for which it shall assume liability in accordance with Article 25 below.
‘“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,’;
TARGET2 is legally structured as a multiplicity of payment systems composed of all the TARGET2 component systems, which are designated as ‘systems’ under the national laws implementing the Settlement Finality Directive.
Acts and omissions of the SSP-providing NCBs shall be considered acts and omissions of the ECB, for which it shall assume liability in accordance with Article 25 below.
TARGET2-ECB is designated as a ‘system’ under § 1(16) of the KWG.
TARGET2-ECB is designated as a “system” under § 1(16) of the KWG.
korvataan 6 artiklan 1 kohdan a alakohdassa ilmaisu ”TARGET2-ECB” ilmaisulla ”the SSP”;
No intraday credit is provided to participants in TARGET2-ECB.’;
muutetaan 9 artikla seuraavasti:
in Article 6(1)(a), the term ‘TARGET2-ECB’ is replaced by the words ‘the SSP’;
korvataan 3 kohdan ensimmäinen virke seuraavasti:
Article 9 is amended as follows:
”Up-to-date information on the SSP's operational status shall be available on the TARGET2 Information System (T2IS) on a dedicated webpage on the ECB's website.”;
in paragraph 3, the first sentence is replaced by the following:
lisätään 4a kohta seuraavasti:
‘Up-to-date information on the SSP's operational status shall be available on the TARGET2 Information System (T2IS) on a dedicated webpage on the ECB's website.’;
The holder of the Linked PM account shall be responsible for informing in a timely manner its TIPS DCA holders of any relevant ICM broadcast message, including those related to the suspension or termination of any TIPS DCA holder's participation in TARGET2-ECB.”;
the following paragraph 4a is inserted:
korvataan 8 kohta seuraavasti:
The holder of the Linked PM account shall be responsible for informing in a timely manner its TIPS DCA holders of any relevant ICM broadcast message, including those related to the suspension or termination of any TIPS DCA holder's participation in TARGET2-ECB.’;
Participants shall immediately inform the ECB if an event of default occurs in relation to themselves.”;
paragraph 8 is replaced by the following:
muutetaan 10 artikla seuraavasti:
Participants shall immediately inform the ECB if an event of default occurs in relation to themselves.’;
korvataan 5 kohta seuraavasti:
Article 10 is amended as follows:
A PM account holder accepting its PM account to be designated as the Main PM account shall be bound by any invoices related to the opening and operation of each T2S DCA linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the T2S DCA holder.”;
paragraph 5 is replaced by the following:
korvataan 6 kohdassa ilmaisu ”DCA” ilmaisulla ”T2S DCA”,
A PM account holder accepting its PM account to be designated as the Main PM account shall be bound by any invoices related to the opening and operation of each T2S DCA linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the T2S DCA holder.’;
lisätään 7 ja 8 kohta seuraavasti:
in paragraph 6, the term ‘DCA’ is replaced by the term ‘T2S DCA’;
The holder of a Linked PM account shall have an overview of the liquidity available on the TIPS DCAs linked to that PM account and ensure the TIPS DCA holders are aware of their responsibility to manage that liquidity.”;
the following paragraphs 7 and 8 are added:
lisätään 11 artikla seuraavasti:
The holder of a Linked PM account shall have an overview of the liquidity available on the TIPS DCAs linked to that PM account and ensure the TIPS DCA holders are aware of their responsibility to manage that liquidity.’;
korvataan c ja d alakohta seuraavasti:
Article 11 is amended as follows:
PM to T2S DCA liquidity transfer orders; and”;
points (c) and (d) are replaced by the following:
lisätään e alakohta seuraavasti:
PM to T2S DCA liquidity transfer orders; and’;
PM to TIPS DCA liquidity transfer orders.”;
the following point (e) is added:
korvataan 12 artiklan 3 kohta seuraavasti:
PM to TIPS DCA liquidity transfer orders.’;
The SSP attaches its timestamp for the processing of payment orders in the sequence of their receipt.”;
in Article 12, paragraph 3 is replaced by the following:
korvataan 13 artiklan 2 kohta seuraavasti:
The SSP attaches its timestamp for the processing of payment orders in the sequence of their receipt.’;
All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to T2S DCA liquidity transfer orders and PM to TIPS DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.”;
in Article 13, paragraph 2 is replaced by the following:
korvataan 23 artiklan 1 kohdan b alakohta seuraavasti:
All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to T2S DCA liquidity transfer orders and PM to TIPS DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.’;
may be used to initiate liquidity transfer orders, TIPS DCA to PM liquidity transfer orders, PM to TIPS DCA liquidity transfer orders, PM to T2S DCA liquidity transfer orders and, when the ICM is used in combination with the T2S value added services, T2S DCA to PM liquidity transfer orders; and”;
in Article 23(1), point (b) is replaced by the following:
korvataan 25 artiklan 5 kohta seuraavasti:
may be used to initiate liquidity transfer orders, TIPS DCA to PM liquidity transfer orders, PM to TIPS DCA liquidity transfer orders, PM to T2S DCA liquidity transfer orders and, when the ICM is used in combination with the T2S value added services, T2S DCA to PM liquidity transfer orders; and’;
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.”;
in Article 25, paragraph 5 is replaced by the following:
muutetaan 28 artikla seuraavasti:
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.’;
korvataan 1 kohdan toinen virke seuraavasti:
Article 28 is amended as follows:
”For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU of the European Parliament and of the Council against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.
in paragraph 1, the second sentence is replaced by the following:
korvataan 2 kohdan f alakohta seuraavasti:
‘For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU of the European Parliament and of the Council against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.
the ECB suspends, limits or terminates the participant's access to intraday credit pursuant to paragraph 12 of Annex III to Guideline ECB/2012/27.”;
in paragraph 2, point (f) is replaced by the following:
korvataan 4 kohdan a alakohdassa ilmaisu ”DCA holders” ilmaisulla ”T2S DCA holders” ja ilmaisu ”DCA holder” ilmaisulla ”T2S DCA holder”;
the ECB suspends, limits or terminates the participant's access to intraday credit pursuant to paragraph 12 of Annex III to Guideline ECB/2012/27.’;
muutetaan 32 artikla seuraavasti:
in paragraph 4(a), the words ‘DCA holders’ and ‘DCA holder’ are replaced by the words ‘T2S DCA holders’ and ‘T2S DCA holder’, respectively;
lisätään 1a kohta seuraavasti:
Article 32 is amended as follows:
By derogation from paragraph 1, the participant agrees that information on any action taken under Article 28 shall not be considered as confidential.”;
the following paragraph 1a is inserted:
korvataan 2 kohta seuraavasti:
By derogation from paragraph 1, the participant agrees that information on any action taken under Article 28 shall not be considered as confidential.’;
The ECB shall not be liable for the financial and commercial consequences of such disclosure.”
paragraph 2 is replaced by the following:
Korvataan 33 artiklan 3 kohdan a alakohdan ii alakohta seuraavasti:
The ECB shall not be liable for the financial and commercial consequences of such disclosure.’
the participant shall not enter any payment order for the transfer of funds to an account held by an entity different than the participant, 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;”
in Article 33(3), point (a)(ii) is replaced by the following:
korvataan 34 artiklan toinen virke seuraavasti:
the participant shall not enter any payment order for the transfer of funds to an account held by an entity different than the participant, 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;’;
”Notices to the ECB shall be submitted to the European Central Bank, Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure, Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany or to the BIC address of the ECB: ECBFDEFF.”;
in Article 34, the second sentence is replaced by the following:
korvataan 36 artiklan ensimmäisessä ja toisessa virkkeessä sanat ”including its Appendices” sanoilla ”including the Appendices”;
‘Notices to the ECB shall be submitted to the European Central Bank, Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure, Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany or to the BIC address of the ECB: ECBFDEFF.’;
muutetaan lisäyksessä I oleva 8 kohta, jonka otsikko on ”Use of the ICM”, seuraavasti:
in Article 36, in the first and second sentences the words ‘including its Appendices’ are replaced by the words ‘including the Appendices’;
korvataan 8 kohdan c ja d alakohta seuraavasti:
in Appendix I, paragraph 8 entitled ‘Use of the ICM’ is amended as follows:
by means of a PM to T2S DCA liquidity transfer order or, when the ICM is used in combination with the T2S value added services, a T2S DCA to PM liquidity transfer order; and”;
points (8)(c) and (d) are replaced by the following:
lisätään 8 kohdan e alakohta seuraavasti:
by means of a PM to T2S DCA liquidity transfer order or, when the ICM is used in combination with the T2S value added services, a T2S DCA to PM liquidity transfer order; and’;
by means of a PM to TIPS DCA liquidity transfer order or a TIPS DCA to PM liquidity transfer order.”;
the following point (8)(e) is added:
muutetaan lisäys IV seuraavasti:
by means of a PM to TIPS DCA liquidity transfer order or a TIPS DCA to PM liquidity transfer order.’;
korvataan 4 kohdassa, jonka otsikko on ”Relocation of the operation of the SSP to an alternative site”, olevassa c alakohdassa ilmaisu ”PM to DCA liquidity transfer order” ilmaisulla ”PM to T2S DCA liquidity transfer order”;
Appendix IV is amended as follows:
muutetaan 6 kohta, jonka otsikko on ”Contingency processing”, seuraavasti:
in paragraph 4 entitled ‘Relocation of the operation of the SSP to an alternative site’, in point (c) the term ‘PM to DCA liquidity transfer order’ is replaced by the term ‘PM to T2S DCA liquidity transfer order’;
korvataan c alakohdan i alakohta seuraavasti:
paragraph 6 entitled ‘Contingency processing’ is amended as follows:
CLS Bank International-related payments, with the exception of payments related to the CLS CCP service and, at the discretion of the Governing Council, the CLSNow service;”
point (c)(i) is replaced by the following:
korvataan d alakohdan iii alakohta seuraavasti:
CLS Bank International-related payments, with the exception of payments related to the CLS CCP service and, at the discretion of the Governing Council, the CLSNow service;’,
T2S DCA to PM liquidity transfer orders.”;
point (d)(iii) is replaced by the following:
korvataan 8 kohdassa, jonka otsikko on ”Other provisions”, olevassa b alakohdassa ilmaisu ”the SSP” ilmaisulla ”the operational team of the SSP”;
T2S DCA to PM liquidity transfer orders.’;
muutetaan lisäys V seuraavasti:
in paragraph 8 entitled ‘Other provisions’, in point (b) the words ‘the SSP’ are replaced by the words ‘the operational team of the SSP’;
korvataan aikataulu seuraavasti:
Appendix V is amended as follows:
”Time
the schedule is replaced by the following:
‘Start-of-procedure’ message and settlement of the standing orders to transfer liquidity from the PM accounts to the subaccounts/technical account (ancillary system-related settlement)
‘Time
Execution of additional liquidity transfers via the ICM for settlement procedure 6 real time; execution of additional liquidity transfers via the ICM before the ancillary system sends the ‘start of cycle’ messages for settlement procedure 6 interfaced; settlement period of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced)
“Start-of-procedure”message and settlement of the standing orders to transfer liquidity from the PM accounts to the subaccounts/technical account (ancillary system-related settlement)
lisätään 6 kohta seuraavasti:
Execution of additional liquidity transfers via the ICM for settlement procedure 6 real time; execution of additional liquidity transfers via the ICM before the ancillary system sends the “start of cycle” messages for settlement procedure 6 interfaced; settlement period of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced)
The information on the SSP's operational status on T2IS and the ECB's website shall only be updated during normal business hours.”
the following paragraph 6 is added:
muutetaan lisäys VI seuraavasti:
The information on the SSP's operational status on T2IS and the ECB's website shall only be updated during normal business hours.’;
korvataan 1 kohdan viimeinen virke seuraavasti:
Appendix VI is amended as follows:
”PM to T2S DCA liquidity transfer orders or PM to TIPS DCA liquidity transfer orders sent from a participant's PM account and T2S DCA to PM liquidity transfer orders or TIPS DCA to PM liquidity transfer orders received on a participant's PM account shall be charged according to the pricing option (a) or (b) above chosen for that PM account.”;
in paragraph 1, the last sentence is replaced by the following:
korvataan 4 ja 5 kohdassa ja taulukossa ilmaisu ”DCA” ilmaisulla ”T2S DCA”,
‘PM to T2S DCA liquidity transfer orders or PM to TIPS DCA liquidity transfer orders sent from a participant's PM account and T2S DCA to PM liquidity transfer orders or TIPS DCA to PM liquidity transfer orders received on a participant's PM account shall be charged according to the pricing option (a) or (b) above chosen for that PM account.’;
lisätään taulukossa väliotsikon ”Information services” alle kolmannen (”U2A queries”) ja neljännen (”Messages bundled into a file”) kentän väliin kenttä seuraavasti:
in paragraphs 4 and 5 and the table, the term ‘DCA’ is replaced by the term ‘T2S DCA’,
”U2A queries downloaded
in the table, the following field is inserted between the third (‘U2A queries’) and fourth (‘Messages bundled into a file’) fields under ‘Information services’:
Per queried business item in any U2A query generated and downloaded”
‘U2A queries downloaded
lisätään 5a ja 5b kohta seuraavasti:
Per queried business item in any U2A query generated and downloaded’
”Fees for Linked PM account holders
the following paragraphs 5a and 5b are inserted:
The ECB shall charge Linked PM account holders for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.”;
‘Fees for Linked PM account holders
korvataan 6 kohdassa viimeinen virke seuraavasti:
The ECB shall charge Linked PM account holders for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.’;
”Payments shall be made no later than the 14th business day of that month to the account specified by the ECB or shall be debited from an account specified by the PM account holder.”;
in paragraph 6, the last sentence is replaced by the following:
muutetaan 7 kohta seuraavasti:
‘Payments shall be made no later than the 14th business day of that month to the account specified by the ECB or shall be debited from an account specified by the PM account holder.’;
korvataan 7 kohdassa ilmaisu ”DCA” ilmaisulla ”T2S DCA”,
paragraph 7 is amended as follows:
korvataan b alakohdassa ilmaisu ”transactions settled on DCAs” ilmaisulla ”transactions settled on T2S DCAs and TIPS DCAs”;
in paragraph 7, the term ‘DCA’ is replaced by the term ‘T2S DCA’,
korvataan d alakohdassa olevassa taulukossa ilmaisu ”DCA to DCA liquidity transfer orders” ilmaisulla ”T2S DCA to T2S DCA liquidity transfer orders”;
in point (b), the words ‘transactions settled on DCAs’ are replaced by the words ‘transactions settled on T2S DCAs and TIPS DCAs’,
lisätään d alakohdan iv alakohta seuraavasti:
in point (d), in the table the words ‘DCA to DCA liquidity transfer orders’ are replaced by the words ‘T2S DCA to T2S DCA liquidity transfer orders’,
The ECB shall charge the ancillary system as Linked PM account holder for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.”;
the following point (d)(iv) is added:
Muutetaan liite II seuraavasti:
The ECB shall charge the ancillary system as Linked PM account holder for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.’;
”TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A T2S DEDICATED CASH ACCOUNT (T2S DCA) IN TARGET2”;