natgillin/translations-raw huggingface dataset:
The present Conditions govern the relationship between the ECB and its PM account holder as far the opening and the operation of the PM account is concerned.’;
‘Dedicated Cash Account (DCA)’ means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S;
in the Annex, paragraphs 1 and 2 of Article 3 are replaced by the following:
‘Main PM account’ means the PM account to which a DCA is linked and on which any remaining balance must be automatically repatriated from the DCA at the end of the day;
any other payment orders in euro addressed to TARGET2 participants.’;
‘PM to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from a PM account to a DCA;“
in the Annex, the following paragraphs 5 and 6 are added to Article 10:
v prílohe sa vkladá tento článok 1a:
A PM account holder accepting its PM account to be designated as the Main PM account defined in Annex II shall be bound by any invoices related to the opening and operation of each Dedicated Cash Account 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 DCA holder.
„Article 1a
A Main PM account holder shall be bound by any invoices, as set out in Appendix VI to this Annex, for the linkage to each DCA to which the PM account is linked.’;
The present Conditions govern the relationship between the ECB and its PM account holder as far the opening and the operation of the PM account is concerned.“;
in the Annex, Article 11 is replaced by the following:
v článku 3 prílohy sa odseky 1 a 2 nahrádzajú takto:
‘Article 11
any other payment orders in euro addressed to TARGET2 participants.“;
PM to DCA liquidity transfer orders.’;
v článku 10 prílohy sa dopĺňajú tieto odseky 5 a 6:
in the Annex, the second subparagraph of Article 13(2) is replaced by the following:
A PM account holder accepting its PM account to be designated as the Main PM account defined in Annex II shall be bound by any invoices related to the opening and operation of each Dedicated Cash Account 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 DCA holder.
‘All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.’;
A Main PM account holder shall be bound by any invoices, as set out in Appendix VI to this Annex, for the linkage to each DCA to which the PM account is linked.“;
in the Annex, paragraph 2 of Article 32 is replaced by the following:
článok 11 prílohy sa nahrádza takto:
The ECB shall not be liable for the financial and commercial consequences of such disclosure.’;
„Article 11
in the Annex, paragraph 2 of Article 40 is replaced by the following:
PM to DCA liquidity transfer orders.“;
By requesting a PM account in TARGET2-ECB, applicant participants automatically agree to these Conditions between themselves and in relation to the ECB.’;
v článku 13 ods. 2 prílohy sa druhý pododsek nahrádza takto:
in Appendix I to the Annex, the following point (d) is added to paragraph 8(8):
„All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.“,
by means of a PM to DCA liquidity transfer order.’;
článok 32 odsek 2 prílohy sa nahrádza takto:
in Appendix IV to the Annex, paragraph 6(d) is replaced by the following:
The ECB shall not be liable for the financial and commercial consequences of such disclosure.“,
The following types of payments shall be considered “critical” and the ECB may decide to initiate contingency processing in relation to them:
článok 40 odsek 2 prílohy sa nahrádza takto:
DCA to PM liquidity transfer orders.’;
By requesting a PM account in TARGET2-ECB, applicant participants automatically agree to these Conditions between themselves and in relation to the ECB.“,
in the Annex, Appendix VI is replaced by the following:
v odseku 8 pododseku 8 dodatku I prílohy sa sa vkladá nasledujúce písm. d):
‘Appendix VI
by means of a PM to DCA liquidity transfer order.“,
For the Aggregated Liquidity (AL) mode, the monthly fee shall be EUR 200 for each account included in the AL group.
článok 6 písm. d) v dodatku IV k prílohe sa nahrádza takto:
If the AL group is a part of a CAI group and the CAI group manager is different from the AL group manager, then the CAI group manager shall pay an additional monthly fee of EUR 1875.
The following types of payments shall be considered ‘critical’ and the ECB may decide to initiate contingency processing in relation to them:
In such cases the invoice for the total fees for all the accounts in the CAI group (including the AL group accounts) shall be sent to the CAI group manager.
DCA to PM liquidity transfer orders.“;
Payment shall be made at the latest on the tenth working day of that month to the account specified by the ECB and shall be debited from that participant's PM account.’;
dodatok VI k prílohe sa nahrádza takto:
the Annex is renamed Annex I, and its title is replaced by the following:
„Appendix VI
‘ANNEX I
For the Aggregated Liquidity (AL) mode, the monthly fee shall be EUR 200 for each account included in the AL group.
TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A PM ACCOUNT IN TARGET2-ECB’;
If the AL group is a part of a CAI group and the CAI group manager is different from the AL group manager, then the CAI group manager shall pay an additional monthly fee of EUR 1875.
the following Annex II is added:
In such cases the invoice for the total fees for all the accounts in the CAI group (including the AL group accounts) shall be sent to the CAI group manager.
For the purposes of these Harmonised Conditions (hereinafter the “Conditions”) the following definitions apply:
Payment shall be made at the latest on the tenth working day of that month to the account specified by the ECB and shall be debited from that participant's PM account.“;
“Auto-collateralisation” means intraday credit granted by the euro area national central bank (NCB) in central bank money triggered when a DCA holder has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow), or with securities held by the DCA holder in favour of the euro area NCB (collateral on stock),
názov prílohy sa mení na Príloha I a jej nadpis sa nahrádza takto:
“Dedicated Cash Account (DCA)” means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,
„ANNEX I
“Immediate liquidity transfer order” means an instruction to make a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order in real-time upon the receipt of the said instruction,
TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A PM ACCOUNT IN TARGET2-ECB“,
“Predefined liquidity transfer order” means an instruction to transfer a specified amount of funds from a DCA to a PM account to be executed only once at a defined time or event,
Vkladá sa táto príloha II:
“Liquidity adjustment” means the authorisation given by the DCA holder, to its participating CSD or the ECB by special contractual arrangement duly documented and registered in the Static Data to initiate liquidity transfers between a DCA and a PM Account, or between two DCAs,
For the purposes of these Harmonised Conditions (hereinafter the ‘Conditions’) the following definitions apply:
“DCA to PM liquidity transfer order” means the instruction to transfer a specified amount of funds from a DCA to a PM account,
‘Auto-collateralisation’ means intraday credit granted by the euro area national central bank (NCB) in central bank money triggered when a DCA holder has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow), or with securities held by the DCA holder in favour of the euro area NCB (collateral on stock),
“PM to DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from a PM account to a DCA,
‘Dedicated Cash Account (DCA)’ means an account held by a DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,
“DCA to DCA liquidity transfer order” means the instruction to transfer a specified amount of funds from (i) a DCA to a DCA linked to the same Main PM account; or (ii) from a DCA to a DCA held by the same legal entity,
‘Immediate liquidity transfer order’ means an instruction to make a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order in real-time upon the receipt of the said instruction,
“Main PM account” means the PM Account to which a DCA is linked and on which any remaining balance will be automatically repatriated at end-of-day,
‘Predefined liquidity transfer order’ means an instruction to transfer a specified amount of funds from a DCA to a PM account to be executed only once at a defined time or event,
“Standing liquidity transfer order” means an instruction to transfer a specified amount of cash or “all cash” available in the T2S DCA from a DCA to a PM account to be executed repetitively at a defined time or event in the T2S processing cycle until the order is deleted or the validity period expires,
‘Liquidity adjustment’ means the authorisation given by the DCA holder, to its participating CSD or the ECB by special contractual arrangement duly documented and registered in the Static Data to initiate liquidity transfers between a DCA and a PM Account, or between two DCAs,
“Static Data” means the set of business objects, specific to a DCA holder or central bank, in T2S and owned respectively by that DCA holder or central bank, that T2S requires to process the transactional data related to that DCA holder or central bank,
‘DCA to PM liquidity transfer order’ means the instruction to transfer a specified amount of funds from a DCA to a PM account,
“Business Identifier Code (BIC)” means a code as defined by ISO Standard No 9362,
‘PM to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from a PM account to a DCA,
“ISO country code” means a code as defined by ISO Standard No 3166-1,
‘DCA to DCA liquidity transfer order’ means the instruction to transfer a specified amount of funds from (i) a DCA to a DCA linked to the same Main PM account; or (ii) from a DCA to a DCA held by the same legal entity,
“business day” means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,
‘Main PM account’ means the PM Account to which a DCA is linked and on which any remaining balance will be automatically repatriated at end-of-day,
“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,
‘Standing liquidity transfer order’ means an instruction to transfer a specified amount of cash or ‘all cash’ available in the T2S DCA from a DCA to a PM account to be executed repetitively at a defined time or event in the T2S processing cycle until the order is deleted or the validity period expires,
“central banks (CBs)” means the Eurosystem CBs and the connected NCBs,
‘Static Data’ means the set of business objects, specific to a DCA holder or central bank, in T2S and owned respectively by that DCA holder or central bank, that T2S requires to process the transactional data related to that DCA holder or central bank,
“connected NCB” means an 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,
‘ISO country code’ means a code as defined by ISO Standard No 3166-1,
“euro area NCB” means the NCB of a Member State whose currency is the euro,
‘business day’ means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,
“Eurosystem CB” means the ECB or a euro area NCB,
‘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,
“insolvency proceedings” means insolvency proceedings within the meaning of Article 2(j) of Directive 98/26/EC,
‘central banks (CBs)’ means the Eurosystem CBs and the connected NCBs,
“TARGET2 network service provider” means a provider of computerised network connections appointed by the ECB's Governing Council for the purpose of submitting payment messages in TARGET2,
‘connected NCB’ means an NCB, other than a Eurosystem CB, which is connected to TARGET2 pursuant to a specific agreement,
“T2S network service provider” means an undertaking that has concluded a licence agreement with the Eurosystem to provide connectivity services in the context of T2S,
‘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,
“payee”, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be credited as a result of a payment order being settled,
‘euro area NCB’ means the NCB of a Member State whose currency is the euro,
“payer”, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be debited as a result of a payment order being settled,
‘Eurosystem CB’ means the ECB or a euro area NCB,
“payment order” means a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order,
‘insolvency proceedings’ means insolvency proceedings within the meaning of Article 2(j) of Directive 98/26/EC,
“Payments Module (PM)” means an SSP module in which payments of TARGET2 participants are settled on PM accounts,
‘TARGET2 network service provider’ means a provider of computerised network connections appointed by the ECB's Governing Council for the purpose of submitting payment messages in TARGET2,
“PM account” means an account held by a TARGET2 participant in the PM with a Eurosystem CB which is necessary for such TARGET2 participant to:
‘T2S network service provider’ means an undertaking that has concluded a licence agreement with the Eurosystem to provide connectivity services in the context of T2S,
“Single Shared Platform (SSP)” means the single technical platform infrastructure provided by the SSP-providing NCBs,
‘payee’, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be credited as a result of a payment order being settled,
“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 participating CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,
‘payer’, except where used in Article 28 of these Conditions, means a TARGET2 participant whose DCA will be debited as a result of a payment order being settled,
“SSP-providing NCBs” means the Deutsche Bundesbank, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the SSP for the Eurosystem's benefit,
‘payment order’ means a DCA to PM liquidity transfer order, a PM to DCA liquidity transfer order or a DCA to DCA liquidity transfer order,
“4CBs” means the Deutsche Bundesbank, the Banque de France, the Banca d'Italia and Banco de España in their capacity as the CBs building and operating the T2S Platform for the Eurosystem's benefit,
‘Payments Module (PM)’ means an SSP module in which payments of TARGET2 participants are settled on PM accounts,
“static data collection form” means a form developed by the ECB for the purpose of registering applicants for TARGET2-ECB services and registering any changes in relation to the provision of such services,
‘PM account’ means an account held by a TARGET2 participant in the PM with a Eurosystem CB which is necessary for such TARGET2 participant to:
“suspension” means the temporary freezing of the rights and obligations of a participant for a period of time to be determined by the ECB,
‘Single Shared Platform (SSP)’ means the single technical platform infrastructure provided by the SSP-providing NCBs,
“T2S GUI” means module on the T2S Platform which allows DCA holders to obtain on-line information and gives them the possibility to submit payment orders,
‘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 participating CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money,
“TARGET2-ECB” means the TARGET2 component system of the ECB,
‘SSP-providing NCBs’ means the Deutsche Bundesbank, the Banque de France and the Banca d'Italia in their capacity as the CBs building and operating the SSP for the Eurosystem's benefit,
“TARGET2” means the entirety resulting from all TARGET2 component systems of the CBs,
’ means the Deutsche Bundesbank, the Banque de France, the Banca d'Italia and Banco de España in their capacity as the CBs building and operating the T2S Platform for the Eurosystem's benefit,
“TARGET2 component system” means any of the CBs' real-time gross settlement (RTGS) systems that form part of TARGET2,
‘static data collection form’ means a form developed by the ECB for the purpose of registering applicants for TARGET2-ECB services and registering any changes in relation to the provision of such services,
“TARGET2 participant” means any participant in any TARGET2 component system,
‘suspension’ means the temporary freezing of the rights and obligations of a participant for a period of time to be determined by the ECB,
“participant” or “direct participant” means an entity that holds at least one PM account (PM account holder) and/or one Dedicated Cash Account (DCA holder) with a Eurosystem CB,
‘T2S GUI’ means module on the T2S Platform which allows DCA holders to obtain on-line information and gives them the possibility to submit payment orders,
“technical malfunction of TARGET2” means any difficulty, defect or failure in the technical infrastructure and/or the computer systems used by TARGET2-ECB including the SSP or T2S Platform, or any other event that makes it impossible to execute and complete the same-day processing of payments in TARGET2-ECB,
‘TARGET2-ECB’ means the TARGET2 component system of the ECB,
“available liquidity” means the credit balance on the DCA decreased by the amount of any processed reservations of liquidity or blocking of funds,
‘TARGET2’ means the entirety resulting from all TARGET2 component systems of the CBs,
“participating Central Securities Depository” or “participating CSD” means a CSD that has signed the T2S Framework Agreement,
‘TARGET2 component system’ means any of the CBs' real-time gross settlement (RTGS) systems that form part of TARGET2,
“A2A” or “Application-to-application” means a connectivity mode allowing the DCA holder to exchange information with the software application of the T2S Platform,
‘TARGET2 participant’ means any participant in any TARGET2 component system,
“U2A” or “User-to-application” means a connectivity mode allowing the DCA holder to exchange information with software applications on the T2S Platform through a graphical user interface,
‘participant’ or ‘direct participant’ means an entity that holds at least one PM account (PM account holder) and/or one Dedicated Cash Account (DCA holder) with a Eurosystem CB,
“T2S Distinguished Name” or “T2S DN” means the network address for the T2S Platform which must be included in all messages intended for the system,
‘technical malfunction of TARGET2’ means any difficulty, defect or failure in the technical infrastructure and/or the computer systems used by TARGET2-ECB including the SSP or T2S Platform, or any other event that makes it impossible to execute and complete the same-day processing of payments in TARGET2-ECB,
“branch” means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013,
‘available liquidity’ means the credit balance on the DCA decreased by the amount of any processed reservations of liquidity or blocking of funds,
“non-settled payment order” means a payment order that is not settled on the same business day as that on which it is accepted,
‘participating Central Securities Depository’ or ‘participating CSD’ means a CSD that has signed the T2S Framework Agreement,
“real-time gross settlement” means the processing and settlement of payment orders on a transaction by transaction basis in real-time.
‘A2A’ or ‘Application-to-application’ means a connectivity mode allowing the DCA holder to exchange information with the software application of the T2S Platform,
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 Directive 98/26/EC.
‘T2S Distinguished Name’ or ‘T2S DN’ means the network address for the T2S Platform which must be included in all messages intended for the system,
TARGET2-ECB is designated as a “system” under the national laws implementing Directive 98/26/EC.
‘branch’ means a branch within the meaning of point (17) of Article 4(1) of Regulation (EU) No 575/2013,
DCA holders may collect information via the ICM, to the extent they also hold a PM account, or otherwise via the T2S GUI.
‘real-time gross settlement’ means the processing and settlement of payment orders on a transaction by transaction basis in real-time.
“C” for cash 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 Directive 98/26/EC.
For the purposes of the first sentence of Article 3(1) and Article 5 of Directive 98/26/EC, and the third sentence of Section 116, Section 96(2), Section 82 and Section 340(3) of the German Insolvency Code (Insolvenzordnung) and the last sentence of Section 46(2) of the KWG, DCA to DCA liquidity transfer orders or DCA to PM liquidity transfer orders are deemed entered into TARGET2-ECB and are irrevocable at the moment that the relevant DCA holder's DCA is debited.
TARGET2-ECB is designated as a ‘system’ under the national laws implementing Directive 98/26/EC.