natgillin/translations-raw huggingface dataset:
In accordance with Article 59(5) of Regulation (EU) No 909/2014, which includes an explicit reference to Article 46(3) of Regulation (EU) No 648/2012, bank guarantees or letters of credit, where appropriate, should be aligned to the CPSS-IOSCO Principles and meet similar requirements as those laid down in Regulation (EU) No 648/2012.
U skladu s člankom 59. stavkom 5. Uredbe (EU) br. 909/2014, koji sadržava izričito upućivanje na članak 46. stavak 3. Uredbe (EU) br. 648/2012, bankovna jamstva ili akreditivi trebali bi se, ako je to primjereno, uskladiti s načelima CPSS-a i IOSCO-a te bi trebali ispuniti zahtjeve slične onima iz Uredbe (EU) br. 648/2012.
These include the requirement that bank guarantees and letters of credit are fully collateralised by the guarantors.
To uključuje zahtjev da jamci u potpunosti osiguraju bankovna jamstva i akreditive.
In order to preserve the efficiency of security settlement within the Union, however, when bank guarantees or letters of credit are used in relation to credit exposures that may arise from interoperable CSD links, appropriate alternative risk mitigants should be allowed to be considered as long as they provide an equal or higher level of protection than the provisions laid out in Regulation (EU) No 648/2012.
Kako bi se međutim očuvala djelotvornost namire vrijednosnih papira u Uniji, kada se bankovna jamstva ili akreditivi upotrebljavaju u pogledu kreditnih izloženosti koje mogu proizaći iz interoperabilnih veza CSD-ovi, trebalo bi se dopustiti razmatranje primjerenih alternativnih načina za smanjenje rizika, pod uvjetom da pružaju jednaku ili veću razinu zaštite od odredbi utvrđenih Uredbom (EU) br. 648/2012.
This special treatment should only apply to bank guarantees or letters of credit protecting an interoperable CSD link and should cover exclusively the credit exposure between the two linked CSDs.
Takvo posebno postupanje trebalo bi se primjenjivati samo na bankovna jamstva ili akreditive kojima se štiti interoperabilna veza CSD-a te bi se njime trebala pokrivati isključivo kreditna izloženost između dvaju povezanih CSD-ova.
Since the bank guarantee or the letter of credit protects the non-defaulting CSDs against credit losses, the liquidity needs of the non-defaulting CSDs should also be addressed by either a timely settlement of the guarantors' obligations, or alternatively, by holding qualifying liquidity resources.
Budući da bankovno jamstvo ili akreditiv štiti CSD-ove koji ispunjavaju svoje obveze od kreditnih gubitaka, likvidnosne potrebe CSD-ova koji ispunjavaju svoje obveze trebale bi se ispuniti pravodobnom namirom obveza jamaca ili držanjem kvalificiranih likvidnih sredstava.
Point (d) of Article 59(4) of Regulation (EU) No 909/2014 requires that CSD-banking service providers mitigate liquidity risks with qualifying liquid resources in each currency.
Člankom 59. stavkom 4. točkom (d) Uredbe (EU) br. 909/2014 propisano je da CSD-ovi koji pružaju bankovne usluge smanjuju likvidnosne rizike s kvalificiranim likvidnim sredstvima u svakoj valuti.
As a result, non-qualifying liquid resources cannot be used to meet the requirements set out in that Article.
Zbog toga se nekvalificirana likvidna sredstva ne mogu upotrebljavati za ispunjenje zahtjeva utvrđenih u tom članku.
Nevertheless, nothing precludes non-qualifying liquid resources, such as currency swaps, from being used in the daily liquidity management in addition to the qualifying liquid resources.
Ipak ničime se ne sprječava da se nekvalificirana likvidna sredstva, primjerice valutni ugovori o razmjeni, upotrebljavaju u svakodnevnom upravljanju likvidnošću uz kvalificirana likvidna sredstva.
This is also consistent with international standards reflected in CPSS-IOSCO Principles.
To je ujedno u skladu s međunarodnim standardima koji su vidljivi u načelima CPSS-a i IOSCO-a.
Non-qualifying liquid resources should therefore be measured and monitored for that purpose.
Nekvalificirana likvidna sredstva stoga bi se trebala mjeriti i pratiti u tu svrhu.
Liquidity risk can potentially arise from any of the banking-type ancillary services performed by the CSD.
Likvidnosni rizik potencijalno može proizaći iz bilo koje pomoćne usluge bankovnog tipa koju pruža CSD.
The management framework for liquidity risks should identify the risks arising from the different banking-type ancillary services, including securities lending and distinguish their management as appropriate.
Okvirom za upravljanje likvidnosnim rizicima trebali bi se utvrditi rizici koji proizlaze iz različitih pomoćnih usluga bankovnog tipa, uključujući pozajmljivanje vrijednosnih papira, prema potrebi, i razlikovati različiti načini upravljanja njima.
In order to cover all of the liquidity needs, including the intraday liquidity needs of a CSD-banking service provider, CSD's liquidity risk management framework should ensure that the payment and settlement obligations are effected as they fall due, including intraday obligations, in all settlement currencies of the securities settlement system operated by a CSD.
Da bi se pokrile sve potrebe za likvidnošću, uključujući dnevne potrebe za likvidnošću CSD-a koji pruža bankovne usluge, okvir za upravljanje likvidnosnim rizicima CSD-a trebao bi osigurati da se obveze plaćanja i namire ispunjavaju po dospijeću, uključujući dnevne obveze, u svim valutama namire sustava za namiru vrijednosnih papira kojim upravlja CSD.
Given that all liquidity risks, except intraday, are already covered by Directive 2013/36/EU and Regulation (EU) No 575/2013, this Regulation should focus on intraday risks.
S obzirom na to da su svi likvidnosni rizici, osim dnevnih, već obuhvaćeni Direktivom 2013/36/EU i Uredbom (EU) br. 575/2013, u ovoj bi Uredbi naglasak trebao biti na dnevnim rizicima.
Given that CSD-banking service providers are systemically-important market infrastructures, it is essential to ensure that a CSD-banking service provider manages its credit and liquidity risks in a conservative manner.
Budući da su CSD-ovi koji pružaju bankovne usluge sustavno važne tržišne infrastrukture, ključno je osigurati da CSD koji pruža bankovne usluge na razborit način upravlja svojim kreditnim i likvidnosnim rizicima.
As a result, a CSD-banking service provider should be permitted to grant only uncommitted credit lines to borrowing participants in the course of the provision of banking-type ancillary services as referred to in Regulation (EU) No 909/2014.
Zbog toga bi CSD-u koji pruža bankovne usluge trebalo dopustiti da sudionicima koji se zadužuju odobrava jedino neobvezujuće kreditne linije tijekom pružanja pomoćnih usluga bankovnog tipa iz Uredbe (EU) br. 909/2014.
In order to ensure that the risk management procedures of a CSD-banking service provider are sufficiently sound even in adverse conditions, the stress testing of the CSD-banking service provider's liquid financial resources should be rigorous and forward looking.
Da bi se osigurala dostatna stabilnost postupaka CSD-a koji pruža bankovne usluge za upravljanje rizicima čak i u nepovoljnim uvjetima, testiranje otpornosti na stres likvidnih financijskih sredstava CSD-a koji pruža bankovne usluge trebalo bi biti strogo i dalekosežno.
For the same reason, tests should consider a range of extreme but plausible scenarios and be conducted for each relevant currency offered by the CSD-banking service provider taking into account the possible failure of one of the prearranged funding arrangements.
Iz istog bi se razloga u testovima trebao uzeti u obzir niz ekstremnih ali vjerodostojnih scenarija koji bi se trebali provesti za svaku relevantnu valutu koju nudi CSD koji pruža bankovne usluge, uzimajući u obzir mogući neuspjeh jednog od prethodno dogovorenih aranžmana financiranja.
Scenarios should include but not be limited to the default of two of the CSD-banking service provider's largest participants in that currency.
Scenariji bi trebali sadržavati, ali ne isključivo, neispunjavanje obveza dvaju najvećih sudionika CSD-a koji pruža bankovne usluge u toj valuti.
This is necessary in order to establish a rule that is on the one hand prudent, as it takes into account the fact that other participants are also capable of generating liquidity risk, besides the largest one; and, on the other hand, a rule that is also proportionate to the objective, as it does not take into account those other participants that present a lesser potential for generating liquidity risk.
To je potrebno radi uspostave pravila koje je s jedne strane razumno jer uzima u obzir činjenicu da i drugi sudionici, osim najvećeg, mogu uzrokovati likvidnosni rizik te s druge strane, pravila koje je razmjerno cilju jer ne uzima u obzir one druge sudionike koji predstavljaju manji potencijal za uzrokovanje likvidnosnog rizika.
Point (c) of Article 59(4) of Regulation (EU) No 909/2014 requires CSD-banking service providers to ensure sufficient liquid resources in all relevant currencies under a wide range of potential stress scenarios.
Člankom 59. stavkom 4. točkom (c) Uredbe (EU) br. 909/2014 propisano je da CSD-ovi koji pružaju bankovne usluge moraju osigurati dovoljno likvidnih sredstava u svim relevantnim valutama u širokom rasponu potencijalnih scenarija u stresnim situacijama.
Therefore, rules specifying the frameworks and tools for the managing of liquidity risk in stress scenarios, should prescribe a methodology for the identification of currencies that are relevant for the management of liquidity risk.
Stoga bi se pravilima kojima se utvrđuju okviri i alati za upravljanje likvidnosnim rizikom u stresnim scenarijima trebala propisivati metodologija za utvrđivanje valuta koje su relevantne za upravljanje likvidnosnim rizikom.
The identification of relevant currencies should be based on materiality considerations, rely on the net cumulative liquidity exposure identified and based on data collected over an extended and well-defined period of time.
Određivanje relevantnih valuta trebalo bi se temeljiti na elementima bitnosti, oslanjati na utvrđenu neto kumulativnu likvidnosnu izloženost i temeljiti na podacima prikupljenima tijekom jasno određenog dužeg razdoblja.
In addition, in order to maintain a coherent regulatory framework in the Union, the most relevant Union currencies identified under the Commission Delegated Regulation (EU) 2017/392 [8] under Article 12 of Regulation (EU) No 909/2014 should be included by default as relevant currencies.
Osim toga, da bi se u Uniji održao usklađen regulatorni okvir, najvažnije valute Unije određene na temelju Delegirane uredbe Komisije Komisije (EU) 2017/392 [8] u skladu s člankom 12. Uredbe (EU) br. 909/2014 trebale bi se obvezno uključiti kao relevantne valute.
The collection of sufficient data for identifying all other currencies than the most relevant Union currencies requires a minimum time period to elapse from the date of authorisation of the CSD-banking service providers until the end of that time period.
Da bi se prikupile dovoljne količine podataka za određivanje svih drugih valuta osim najvažnijih valuta Unije potrebno je da prođe minimalno razdoblje od dana kad je CSD dobio odobrenje za pružanje bankovnih usluga do kraja tog razdoblja.
Therefore, the use of alternative methods to identify all other currencies than the most relevant Union currencies should be allowed for the first year following the authorisation of CSD-banking service providers under the new regulatory framework established by Regulation (EU) No 909/2014 for those CSD-banking service providers that already provide banking-type ancillary services at the date of entry into force of the technical standards referred to in Article 69 of Regulation (EU) No 909/2014.
Stoga bi korištenje alternativnim metodama za određivanje svih drugih valuta osim najvažnijih valuta Unije trebalo biti dopušteno u prvoj godini nakon što je CSD dobio odobrenje za pružanje bankovnih usluga na temelju novog regulatornog okvira utvrđenog Uredbom (EU) br. 909/2014 za CSD-ove koji pružaju bankovne usluge i koji na dan stupanja na snagu tehničkih standarda iz članka 69. Uredbe (EU) br. 909/2014 već pružaju pomoćne usluge bankovnog tipa.
This transitional arrangement should not affect the requirement for CSD-banking service providers to ensure sufficient liquid resources as such, but only the identification of those currencies that are subject to stress testing for the purpose of liquidity management.
Taj prijelazni aranžman ne bi trebao utjecati na zahtjev da CSD-ovi koji pružaju bankovne usluge moraju osigurati dovoljna likvidna sredstva, već samo na određivanje valuta koje podliježu ispitivanju otpornosti na stres za potrebe upravljanja likvidnošću.
Point (d) of Article 59(4) of Regulation (EU) No 909/2014 requires the CSD-banking service providers to have prearranged and highly reliable funding arrangements in place to ensure that collateral that is provided by a defaulting client can be converted into cash even in extreme but plausible market conditions.
Člankom 59. stavkom 4. točkom (d) Uredbe (EU) br. 909/2014 propisano je da CSD-ovi koji pružaju bankovne usluge imaju uspostavljene prethodno dogovorene i vrlo pouzdane aranžmane financiranja kako bi se osiguralo da se kolateral klijenta koji ne ispunjava obveze može zamijeniti za gotovinu, čak i u ekstremnim ali vjerodostojnim tržišnim uvjetima.
The same Regulation requires the CSD-banking service provider to mitigate intraday risks with highly liquid collateral with minimal credit and market risk.
Ista Uredba propisuje da CSD koji pruža bankovne usluge smanji dnevne rizike visokoutrživim kolateralom s minimalnim kreditnim i tržišnim rizikom.
Given that liquidity has to be readily available, a CSD-banking service provider should be able to address any liquidity need on a same day basis.
S obzirom na to da likvidnost mora biti brzo dostupna, CSD koji pruža bankovne usluge trebao bi istoga dana reagirati na svaku potrebu za likvidnošću.
Given that CSD-banking service providers may operate in multiple time-zones, the provision of converting collateral into cash via prearranged funding arrangements on the same-day basis should be applied in consideration of the opening hours of the local payment systems of each individual currency it applies to.
S obzirom na to da je moguće da CSD-ovi koji pružaju bankovne usluge posluju u više vremenskih zona, usluga zamjene kolaterala za gotovinu primjenom prethodno dogovorenih aranžmana financiranja trebala bi se primjenjivati istoga dana uzimajući u obzir radno vrijeme lokalnih sustava plaćanja svake pojedinačne valute na koju se primjenjuje.
The provisions in this Regulation are closely linked, since they deal with the prudential requirements for CSDs.
Odredbe ove Uredbe usko su povezane jer se odnose na bonitetne zahtjeve za CSD-ove.
To ensure coherence between those provisions, which should enter into force at the same time, and to facilitate a comprehensive view and compact access to them by persons subject to those obligations, it is desirable to include all of the regulatory technical standards required by Regulation (EU) No 909/2014 into a single Regulation.
Kako bi se osigurala dosljednost među tim odredbama, koje bi trebale istodobno stupiti na snagu, te kako bi se osobama koje podliježu tim obvezama omogućila široka preglednost i jednostavan pristup tim odredbama, poželjno je jednom uredbom obuhvatiti sve regulatorne tehničke standarde predviđene Uredbom (EU) br. 909/2014.
The European Banking Authority has worked in close cooperation with the European System of Central Banks (ESCB) and the European Securities and Markets Authority (ESMA) before submitting the draft technical standards on which this Regulation is based.
Prije nego što je dostavilo nacrt tehničkih standarda na kojemu se temelji ova Uredba, Europsko nadzorno tijelo za bankarstvo blisko je surađivalo s Europskim sustavom središnjih banaka (ESSB) i s Europskim nadzornim tijelom za vrijednosne papire i tržišta kapitala (ESMA).
It has also conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and Council [9],
Provelo je i otvorena javna savjetovanja o nacrtu regulatornih tehničkih standarda na kojima se temelji ova Uredba, analiziralo moguće povezane troškove i koristi te zatražilo mišljenje Interesne skupine za bankarstvo uspostavljene u skladu s člankom 37. Uredbe (EU) br. 1093/2010 Europskog parlamenta i Vijeća [9],
CAPITAL REQUIREMENTS FOR ALL CSDS REFERRED TO IN ARTICLE 47 OF REGULATION (EU) No 909/2014
KAPITALNI ZAHTJEVI ZA SVE CSD-OVE IZ ČLANKA 47. UREDBE (EU) BR. 909/2014
Overview of requirements regarding the capital of a CSD
Pregled zahtjeva koji se odnose na kapital CSD-ova
For the purposes of Article 47(1) of Regulation (EU) No 909/2014, a central securities depository (‘CSD’) shall hold at all times, together with retained earnings and reserves, the amount of capital specified in Article 3 of this Regulation.
Za potrebe članka 47. stavka 1. Uredbe (EU) br. 909/2014, središnji depozitorij vrijednosnih papira („CSD”) u svakom trenutku drži, uz zadržanu dobit i rezerve, iznos kapitala određen u članku 3. ove Uredbe.
The capital requirements referred to in Article 3 shall be met with capital instruments that meet the conditions set out in Article 2 of this Regulation.
Kapitalni zahtjevi iz članka 3. ispunjavaju se s pomoću instrumenata kapitala koji ispunjavaju uvjete iz članka 2. ove Uredbe.
Conditions regarding capital instruments
Uvjeti povezani s instrumentima kapitala
For the purposes of Article 1, a CSD shall hold capital instruments that meet all of the following conditions:
Za potrebe članka 1. CSD drži instrumente kapitala koji ispunjavaju sve sljedeće uvjete:
they are subscribed capital within the meaning of Article 22 of Council Directive 86/635/EEC [10];
riječ je o upisanom kapitalu u smislu članka 22. Direktive Vijeća 86/635/EEZ [10];
they have been paid up, including the related share premium accounts;
uplaćeni su, uključujući povezane račune premija na dionice;
they fully absorb losses in going concern situations;
u potpunosti pokrivaju gubitke tijekom redovnog poslovanja;
in the event of bankruptcy or liquidation, they rank after all other claims in insolvency actions or under the applicable insolvency law.
u slučaju stečaja ili likvidacije, u kontekstu stečajnih mjera ili u skladu s primjenjivim stečajnim pravom podređeni su svim drugim potraživanjima.
In addition to the capital instruments that meet the conditions in paragraph 1, a CSD authorised in accordance with point (a) of Article 54(2) of Regulation (EU) No 909/2014 to provide banking-type ancillary services may, in order to meet the requirements in Article 1, use capital instruments that:
Osim instrumenata kapitala koji ispunjavaju uvjete iz stavka 1. CSD koji u skladu s člankom 54. stavkom 2. točkom (a) Uredbe (EU) br. 909/2014 ima odobrenje za pružanje pomoćnih usluga bankovnog tipa može, radi ispunjavanja zahtjeva iz članka 1., upotrebljavati instrumente kapitala koji:
meet the conditions in paragraph 1;
ispunjavaju zahtjeve iz stavka 1.;
are ‘own funds instruments’ as defined in point 119 of Article 4(1) of Regulation (EU) No 575/2013;
predstavljaju „instrumente regulatornog kapitala” kako je definirano člankom 4. stavkom 1. točkom 119. Uredbe (EU) br. 575/2013;
are subject to the provisions of Regulation (EU) No 575/2013.
podliježu odredbama Uredbe (EU) br. 575/2013.
Level of capital requirements for a CSD
Razina kapitalnih zahtjeva za CSD
A CSD shall hold capital, together with retained earnings and reserves, which shall be at all times more than or equal to the sum of:
CSD drži, uz zadržanu dobit i rezerve, kapital koji u svakom trenutku mora biti veći od ili jednak zbroju:
the CSD's capital requirements for operational, legal and custody risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 4;
kapitalnih zahtjeva CSD-a za operativne, pravne i skrbničke rizike iz članka 47. stavka 1. točke (a) Uredbe (EU) br. 909/2014, izračunatih u skladu s člankom 4.;
the CSD's capital requirements for investment risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 5;
kapitalnih zahtjeva CSD-a za investicijske rizike iz članka 47. stavka 1. točke (a) Uredbe (EU) br. 909/2014, izračunatih u skladu s člankom 5.;
the CSD's capital requirements for business risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 6;
kapitalnih zahtjeva CSD-a za poslovne rizike iz članka 47. stavka 1. točke (a) Uredbe (EU) br. 909/2014, izračunatih u skladu s člankom 6.;
the CSD's capital requirements for winding-down or restructuring its activities, referred to in point (b) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 7.
kapitalnih zahtjeva CSD-a za likvidaciju ili restrukturiranje njegovih djelatnosti iz članka 47. stavka 1. točke (b) Uredbe (EU) br. 909/2014, izračunatih u skladu s člankom 7.
A CSD shall have procedures in place to identify all sources of the risks referred to in paragraph 1.
CSD uspostavlja postupke za utvrđivanje svih izvora rizika iz stavka 1.
Level of capital requirements for operational, legal and custody risks
Razina kapitalnih zahtjeva za operativne, pravne i skrbničke rizike
A CSD authorised in accordance with point (a) of Article 54(2) of Regulation (EU) No 909/2014 to provide banking-type ancillary services and with permission to use the Advanced Measurement Approaches (‘AMA’) referred to in Articles 321 to 324 of Regulation (EU) No 575/2013, shall calculate its capital requirements for operational, legal and custody risks in accordance with Articles 231 to 234 of Regulation (EU) No 575/2013.
CSD koji u skladu s člankom 54. stavkom 2. točkom (a) Uredbe (EU) br. 909/2014 ima odobrenje za pružanje pomoćnih usluga bankovnog tipa te ima dopuštenje za primjenu naprednih pristupa mjerenja („AMA”) iz članaka 321. do 324. Uredbe (EU) br. 575/2013 izračunava svoje kapitalne zahtjeve za operativne, pravne i skrbničke rizike u skladu s člancima 231. do 234. Uredbe (EU) br. 575/2013.
A CSD authorised in accordance with point (a) of Article 54(2) of Regulation (EU) No 909/2014 to provide banking-type ancillary services and using the Standardised Approach for operational risk as referred to in Articles 317 to 320 of Regulation (EU) No 575/2013, shall calculate its capital requirements for operational, legal and custody risks in accordance with the provisions of that Regulation applicable to the Standardised Approach for operational risk referred to in Articles 317 to 320 thereof.
CSD koji u skladu s člankom 54. stavkom 2. točkom (a) Uredbe (EU) br. 909/2014 ima odobrenje za pružanje pomoćnih usluga bankovnog tipa i koji upotrebljava standardizirani pristup za operativni rizik iz članaka 317. do 320. Uredbe (EU) br. 575/2013, izračunava svoje kapitalne zahtjeve za operativne, pravne i skrbničke rizike u skladu s odredbama koje se primjenjuju na standardizirani pristup za operativni rizik iz članaka 317. do 320. te Uredbe.
A CSD that satisfies any the following conditions shall calculate its capital requirements for operational, legal and custody risks in accordance with the provisions of the Basic Indicator Approach referred to in Articles 315 and 316 of Regulation (EU) No 575/2013:
CSD koji ispunjava bilo koji od sljedećih uvjeta izračunava svoje kapitalne zahtjeve za operativne, pravne i skrbničke rizike u skladu s odredbama o jednostavnom pristupu iz članaka 315. i 316. Uredbe (EU) br. 575/2013:
A CSD that is not authorised in accordance with Article 54(2) of Regulation (EU) No 909/2014;
CSD koji nema odobrenje u skladu s člankom 54. stavkom 2. Uredbe (EU) br. 909/2014;
a CSD that is authorised in accordance with point (a) of Article 54(2) of Regulation (EU) No 909/2014 but which does not have permission to use the AMA referred to in Articles 321 to 324 of Regulation (EU) No 575/2013;
CSD koji ima odobrenje u skladu s člankom 54. stavkom 2. točkom (a) Uredbe (EU) br. 909/2014, ali nema dopuštenje za primjenu AMA-e iz članaka 321. do 324. Uredbe (EU) br. 575/2013;