natgillin/translations-raw huggingface dataset:
the definition of ‘available liquidity’ is replaced by the following:
„‘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,
‘“available liquidity” means a credit balance on a participant's PM account and, if applicable, any intraday credit line granted by the relevant euro area NCB in relation to such account but not yet drawn upon, or, if applicable, decreased by the amount of any processed reservations of liquidity on the PM account,’;
Az „available liquidity” meghatározása helyébe a következő szöveg lép:
the definition of ‘business day’ is replaced by the following:
„‘available liquidity’ means a credit balance on a participant's PM account and, if applicable, any intraday credit line granted by the relevant euro area NCB in relation to such account but not yet drawn upon, or, if applicable, decreased by the amount of any processed reservations of liquidity on the PM account,”.
‘“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 V,’;
A „business day” meghatározása helyébe a következő szöveg lép:
the definition of ‘Dedicated Cash Account’ is replaced by the following:
„‘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 V,”.
‘“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,’;
v.
the definition of ‘event of default’ is amended as follows:
A „Dedicated Cash Account” meghatározása helyébe a következő szöveg lép:
point (a) is replaced by the following:
„‘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,”.
where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6(1)(a);’,
Az „event of default” meghatározása a következőképpen módosul:
point (g) is replaced by the following:
Az a) pont helyébe a következő szöveg lép:
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;’;
where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6(1)(a);”.
in the definition of ‘Information and Control Module (ICM)’, the word ‘participants’ is replaced by the words ‘PM account holders’;
A g) pont helyébe a következő szöveg lép:
the definition of ‘ICM broadcast message’ 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;”.
‘“ICM broadcast message” means information made simultaneously available to all or a selected group of PM account holders via the ICM,’;
Az „Information and Control Module (ICM)” meghatározásában a „participants” szó helyébe a „PM account holders” kifejezés lép.
the definition of ‘indirect participant’ is replaced by the following:
A „ICM broadcast message” meghatározása helyébe a következő szöveg lép:
‘“indirect participant” means a credit institution established in the European Union or the European Economic Area (EEA), which has entered into an agreement with a PM account holder to submit payment orders and receive payments via such PM account holder's PM account, and which has been recognised by a TARGET2 component system as an indirect participant,’;
„‘ICM broadcast message’ means information made simultaneously available to all or a selected group of PM account holders via the ICM,”.
in the definition of ‘multi-addressee access’, the words ‘established in the EEA’ are replaced by the words ‘established in the Union or the EEA’;
Az „indirect participant” meghatározása helyébe a következő szöveg lép:
in the definition of ‘Main PM account’ the term ‘DCA’ is replaced by the term ‘T2S DCA’;
„‘indirect participant’ means a credit institution established in the European Union or the European Economic Area (EEA), which has entered into an agreement with a PM account holder to submit payment orders and receive payments via such PM account holder's PM account, and which has been recognised by a TARGET2 component system as an indirect participant,”.
the definition of ‘non-settled payment order’ is replaced by the following:
A „multi-addressee access” meghatározásában az „established in the EEA” kifejezés helyébe az „established in the Union or the EEA” kifejezés lép.
‘“non-settled payment order” means a payment order that is not settled on the same-business day as that on which it is accepted,’;
A „Main PM account” meghatározásában a „DCA” kifejezés helyébe a „T2S DCA” kifejezés lép.
the definition of ‘participant’ is replaced by the following:
A „non-settled payment order” meghatározása helyébe a következő szöveg lép:
‘“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,’;
„‘non-settled payment order’ means a payment order that is not settled on the same-business day as that on which it is accepted,”.
the definition of ‘payment order’ is replaced by the following:
A „participant” meghatározása helyébe a következő szöveg lép:
‘“payment order” means a credit transfer order, a liquidity transfer order, a direct debit instruction, a PM to T2S DCA liquidity transfer order or a PM to TIPS DCA liquidity transfer order,’;
„‘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,”.
the definition of ‘PM to DCA liquidity transfer order’ is replaced by the following:
A „payment order” meghatározása helyébe a következő szöveg lép:
‘“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,’;
„‘payment order’ means a credit transfer order, a liquidity transfer order, a direct debit instruction, a PM to T2S DCA liquidity transfer order or a PM to TIPS DCA liquidity transfer order,”.
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’;
A „PM to DCA liquidity transfer order” meghatározása helyébe a következő szöveg lép:
the following definitions are inserted:
„‘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,”.
‘“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,’,
A „technical malfunction of TARGET2” meghatározásában a „same-day processing of payments” kifejezés helyébe a „same business-day processing of payments” kifejezés lép.
‘“TARGET Instant Payment Settlement (TIPS) service” means the settlement in central bank money of instant payment orders on the TIPS Platform,’,
A melléklet a következő fogalommeghatározásokkal egészül ki:
‘“TIPS Platform” means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,’,
„‘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-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 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’ means the single technical platform infrastructure provided by the TIPS Platform-providing NCBs,”
‘“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-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,”
‘“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 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,”
‘“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 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,”
‘“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,’,
„‘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,”
‘“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,”
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.
„‘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,”
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.
„‘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-ECB is designated as a “system” under § 1(16) of the KWG.
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.
No intraday credit is provided to participants in TARGET2-ECB.’;
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.
in Article 6(1)(a), the term ‘TARGET2-ECB’ is replaced by the words ‘the SSP’;
TARGET2-ECB is designated as a ‘system’ under § 1(16) of the KWG.
Article 9 is amended as follows:
No intraday credit is provided to participants in TARGET2-ECB.”
in paragraph 3, the first sentence is replaced by the following:
A 6. cikk (1) bekezdésének a) pontjában a „TARGET2-ECB” kifejezés helyébe a „the SSP” kifejezés lép.
‘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.’;
A 9. cikk a következőképpen módosul:
the following paragraph 4a is inserted:
i.
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.’;
A (3) bekezdés első mondata helyébe a következő szöveg lép:
paragraph 8 is replaced by the following:
„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.”
Participants shall immediately inform the ECB if an event of default occurs in relation to themselves.’;
A szöveg a következő (4a) bekezdéssel egészül ki:
Article 10 is amended as follows:
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.”
paragraph 5 is replaced by the following:
A (8) bekezdés helyébe a következő szöveg lép:
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.’;
Participants shall immediately inform the the ECB if an event of default occurs in relation to themselves.”
in paragraph 6, the term ‘DCA’ is replaced by the term ‘T2S DCA’;
A 10. cikk a következőképpen módosul:
the following paragraphs 7 and 8 are added:
A (5) bekezdés helyébe a következő szöveg lép:
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.’;
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.”
Article 11 is amended as follows:
A (6) bekezdésben a „DCA” szó helyébe a „T2S DCA” kifejezés lép.
points (c) and (d) are replaced by the following:
A szöveg a következő (7) és (8) bekezdéssel egészül ki:
PM to T2S DCA liquidity transfer orders; and’;
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 point (e) is added:
A 11. cikk a következőképpen módosul:
PM to TIPS DCA liquidity transfer orders.’;
i.
in Article 12, paragraph 3 is replaced by the following:
A c) és d) pont helyébe a következő szöveg lép:
The SSP attaches its timestamp for the processing of payment orders in the sequence of their receipt.’;
PM to T2S DCA liquidity transfer orders; and”.
in Article 13, paragraph 2 is replaced by the following:
A szöveg a következő e) ponttal egészül ki:
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.’;
PM to TIPS DCA liquidity transfer orders.”
in Article 23(1), point (b) is replaced by the following:
A 12. cikk (3) bekezdése helyébe a következő szöveg lép:
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’;
The SSP attaches its timestamp for the processing of payment orders in the sequence of their receipt.”
in Article 25, paragraph 5 is replaced by the following:
A 13. cikk (2) bekezdése helyébe a következő szöveg lép:
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.’;
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.”
Article 28 is amended as follows:
A 23. cikk (1) bekezdésének b) pontja helyébe a következő szöveg lép:
in paragraph 1, the second sentence is replaced by the following:
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”.
‘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.
A 25. cikk (5) bekezdése helyébe a következő szöveg lép:
in paragraph 2, point (f) 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 suspends, limits or terminates the participant's access to intraday credit pursuant to paragraph 12 of Annex III to Guideline ECB/2012/27.’;
A 28. cikk a következőképpen módosul:
in paragraph 4(a), the words ‘DCA holders’ and ‘DCA holder’ are replaced by the words ‘T2S DCA holders’ and ‘T2S DCA holder’, respectively;
i.
Article 32 is amended as follows:
A (1) bekezdés második mondata helyébe következő szöveg lép:
By derogation from paragraph 1, the participant agrees that information on any action taken under Article 28 shall not be considered as confidential.’;
A (2) bekezdés f) pontja helyébe a következő szöveg lép:
paragraph 2 is replaced by the following:
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.”
The ECB shall not be liable for the financial and commercial consequences of such disclosure.’
A (4) bekezdés a) pontjában a „DCA holders” kifejezés helyébe a „T2S DCA holders” kifejezés, a „DCA holder” kifejezés helyébe pedig a „T2S DCA holder” kifejezés lép.
in Article 33(3), point (a)(ii) is replaced by the following:
A 32. cikk a következőképpen módosul:
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;’;
i.
in Article 34, the second sentence is replaced by the following:
A szöveg a következő (1a) bekezdéssel egészül ki:
‘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.’;
By derogation from paragraph 1, the participant agrees that information on any action taken under Article 28 shall not be considered as confidential.”
in Article 36, in the first and second sentences the words ‘including its Appendices’ are replaced by the words ‘including the Appendices’;
A (2) bekezdés helyébe a következő szöveg lép:
in Appendix I, paragraph 8 entitled ‘Use of the ICM’ is amended as follows:
The ECB shall not be liable for the financial and commercial consequences of such disclosure.”
points (8)(c) and (d) are replaced by the following:
A 33. cikk (3) bekezdése a) pontjának ii. alpontja helyébe a következő szöveg lép:
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’;
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 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 following point (8)(e) is added:
A 34. cikk második mondata helyébe a következő szöveg lép:
by means of a PM to TIPS DCA liquidity transfer order or a TIPS DCA to PM liquidity transfer order.’;
„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: CBFDEFF.”
Appendix IV is amended as follows:
A 36. cikk első mondatában az „including its Appendices” szövegrész helyébe az „including the Appendices” szövegrész lép.