natgillin/translations-raw huggingface dataset:
Minimum bid rate: the lower limit to the interest rates at which counterparties may submit bids in variable rate tenders.
Operacija glavnega refinanciranja: redna operacija odprtega trga, ki jo Eurosistem izvaja v obliki povratne transakcije.
Monetary financial institution (MFI): one of a class of financial institutions which together form the money-issuing sector of the euro area.
Operacije glavnega refinanciranja se izvajajo kot tedenske standardne avkcije in imajo običajno rok dospelosti en teden.
Start date: the date on which the first leg of a monetary policy operation is settled. The start date corresponds to the purchase date for operations based on repurchase agreements and foreign exchange swaps.
Strip – ločeno trgovanje s kuponi in glavnico: brezkuponska obveznica, nastala z namenom ločenega trgovanja s terjatvami do določenih denarnih tokov vrednostnega papirja in glavnico istega instrumenta.
to define the ECB’s statistical reporting requirements and impose them on the actual reporting population of participating Member States; and
določi zahteve statističnega poročanja ECB in jih naloži dejanskim obveznikom iz sodelujočih držav članic;
ECAF Eurosystem credit assessment framework
ECAI zunanja bonitetna institucija
ECAI external credit assessment institution
ECB Evropska centralna banka
IDC intraday credit
PCD posojilo čez dan
IRB internal ratings-based system
IRB interni bonitetni sistem
MFI monetary financial institution
SDT sklad denarnega trga
The above provision on close links does not apply to: (a) close links between the counterparty and the public authorities of EEA countries (including the case where the public authority is a guarantor of the issuer/debtor/guarantor); (b) covered bank bonds issued in accordance with the criteria set out in Article 22(4) of the UCITS Directive; or (c) cases in which debt instruments are protected by specific legal safeguards comparable to those for the instruments given under (b). Furthermore, in spite of their eligibility, national central banks may decide not to accept the following marketable or non-marketable assets as collateral:
tretja oseba ima v lasti večino kapitala nasprotne stranke in večino kapitala izdajatelja/dolžnika/garanta, in sicer bodisi neposredno ali posredno prek enega ali več podjetij, v katerem(-ih) ima ta tretja oseba v lasti večino kapitala.
The Eurosystem applies specific risk control measures according to the types of underlying assets offered by the counterparty. The ECB determines the appropriate risk control measures for both marketable and non-marketable eligible assets.
Eurosistem uporablja posebne ukrepe za obvladovanje tveganj glede na vrsto finančnega premoženja za zavarovanje terjatev, ki ga nudi nasprotna stranka.
Local and regional government debt instruments Traditional covered bank bonds
Dolžniški instrumenti enot lokalne in regionalne ravni države
When using links between SSSs, the counterparties hold the assets on their own account with their home SSS and have no need for a custodian. CHAPTER 7
Ob uporabi povezav med PSVP imajo nasprotne stranke finančno premoženje na svojih lastnih računih pri svojem domačem PSVP in nimajo potrebe po skrbniku.
‘Safety’, ‘transparency’ and ‘accessibility’ are defined by the Eurosystem exclusively in terms of the performance of the Eurosystem’s collateral management function. The selection process is not aimed at assessing the intrinsic quality of the various markets. The principles are to be understood as follows. Safety is taken to mean certainty with regard to transactions, in particular certainty on the validity and enforceability of transactions. Transparency is taken to mean unimpeded access to information on the market’s rules of procedure and operation, the financial features of the assets, the price formation mechanism, and the relevant prices and quantities (quotes, interest rates, trading volumes, outstanding amounts, etc.). Accessibility refers to the Eurosystem’s ability to take part in and have access to the market; a market is accessible for collateral management purposes if its rules of procedure and operation allow the Eurosystem to obtain information and conduct transactions when needed for these purposes.
Seznam sprejemljivih neorganiziranih trgov je objavljen na spletni strani ECB (www.ecb.int) in je dopolnjen vsaj enkrat na leto.
Reserve ratio: the ratio defined by the central bank for each category of balance sheet items included in the reserve base.
Tovrstni posel je podoben zavarovani izposoji, s to razliko, da prodajalec ne obdrži lastništva nad vrednostnim papirjem.
The ratios are used to calculate reserve requirements.
Eurosistem pri svojih povratnih transakcijah uporablja pogodbe o povratnem nakupu s fiksno dospelostjo.
Settlement date: the date on which a transaction is settled.
Sistem TARGET (transevropski sistem bruto poravnave v realnem času): sistem bruto poravnave v realnem času za euro.
The settlement might take place on the same day as the trade (same-day settlement) or one or several days after the trade (the settlement date is specified as the trade date (T) + the settlement lag).
To je decentraliziran sistem, ki ga sestavlja 15 nacionalnih sistemov BPRČ, plačilni mehanizem ECB in povezovalni mehanizem.
A strip is a special type of zero coupon bond.
Te institucije morajo pridobiti formalno priznanje in opraviti postopek potrditve s strani nacionalnih nadzornikov.
CRD Capital Requirements Directive
ES Evropska skupnost
=all%×ai
=dod%×ai
all i
dod i
all%rm
dod%rm
allrm
dodrm
=all%rm
=dod%rm
alli
dodi
+allrm
+dodrm
all%(r m)
dod%(r m)
all(r s)i
dod(r s)i
all%Δm
dod%Δm
allΔm
dodΔm
=all%Δm
=dod%Δm
+allΔm
+dodΔm
all%(Δ m)
dod%(Δ m)
all(Δ s)i
dod(Δ s)i
Any branch or subsidiary of a counterparty may rely on the IRB system of its parent if the Eurosystem has accepted the use of the IRB system for ECAF purposes. Counterparties using an IRB system as described above are also subject to the Eurosystem performance monitoring process (see Section 6.3.5).
Eurosistem si pridržuje pravico, da odloči, ali bo pri svojih operacijah posojanja sprejel zunanjo bonitetno institucijo, pri čemer bo med drugim upošteval tudi spremljanje uspešnosti.
if the amount of non-delivered collateral or cash is between 40 % and 80 % of the total collateral or cash to be delivered on the occasion of the third infringement, a suspension of two months shall be applied;
če znesek neizročenega zavarovanja ali denarnih sredstev znaša med 40 % in 80 % skupnega zavarovanja ali denarnih sredstev, ki naj bi se izročila ob tretji kršitvi, se izreče dvomesečna prepoved dostopa;
Currency of denomination: The RMBD must be denominated in euro [55] See footnote 13 in this chapter. .
Netržni hipotekarni dolžniški instrumenti morajo zadovoljiti visoke bonitetne standarde, ki so ocenjeni s pomočjo tistega dela bonitetnega okvira Eurosistema (ECAF), ki velja za netržne hipotekarne dolžniške instrumente, kakor je opisano v poglavju 6.3.3.
Maintenance period: the period over which compliance with reserve requirements is calculated. The ECB publishes a calendar of the reserve maintenance periods at least three months before the start of each year.
Naknadno določen kupon: kupon pri instrumentih z variabilno donosnostjo, ki se določi na podlagi vrednosti referenčnega indeksa na določen datum (ali datume) med obdobjem, v katerem natekajo obresti kupona.
Maturity date: the date on which a monetary policy operation expires. In the case of a repurchase agreement or swap, the maturity date corresponds to the repurchase date.
Centralna banka izračunava vrednost finančnega premoženja za zavarovanje terjatev tako, da od tržne vrednosti finančnega premoženja odšteje določen odstotek (odbitek pri vrednotenju).
Link between securities settlement systems: a link consists of all the procedures and arrangements which exist between two securities settlement systems (SSSs) for the transfer of securities between the two SSSs concerned through a book-entry process. Longer-term refinancing operation: a regular open market operation executed by the Eurosystem in the form of a reverse transaction.
Ta zajema centralne banke, rezidenčne kreditne institucije, kakor so opredeljene v pravu Skupnosti, in vse druge rezidenčne finančne institucije, ki se ukvarjajo s sprejemanjem vlog in/ali vlogam podobnih instrumentov od oseb, ki niso MFI, in za svoj račun (vsaj v ekonomskem pomenu) z odobritvijo posojil in/ali naložbami v vrednostne papirje.
These applications need to be individually accepted by the Eurosystem before becoming part of the ECAF. Repo operation: a liquidity-providing reverse transaction based on a repurchase agreement.
Povezovalni mehanizem (interlinking): v okviru sistema TARGET zagotavlja povezovalni mehanizem skupne postopke in infrastrukturo, ki dovoljuje prenos plačilnih nalogov od enega domačega sistema BPRČ do drugega.
confirm and warrant that no credit claim submitted as an underlying asset is being simultaneously used as collateral to the benefit of any third party and undertake that the counterparty shall not mobilise any credit claim as collateral to any third party; and
potrdijo in jamčijo, da nobeno bančno posojilo, ki je predloženo kot finančno premoženje za zavarovanje terjatev, ni hkrati uporabljeno kot zavarovanje v korist tretje osebe, ter se zavežejo, da nasprotna stranka ne bo uporabila bančnega posojila kot zavarovanje v korist tretje osebe;
≥rs
≥ri
Such a copy is not requested when such information is transmitted directly by the relevant supervisory authority to the relevant national central bank. Information on its approach to assigning probabilities of default to debtors, as well as data on the rating grades and associated one-year probabilities of default used to determine eligible rating grades.
Za namene bonitetnega okvira Eurosistema so splošna merila sprejemljivosti, ki veljajo za zunanje bonitetne institucije, naslednja:
Such an agreement is similar to collateralised borrowing, with the difference that ownership of the securities is not retained by the seller. The Eurosystem uses repurchase agreements with a fixed maturity in its reverse transactions.
Poziv h kritju: postopek, povezan z uporabo gibljivega kritja, ki določa, da centralne banke od nasprotnih strank lahko zahtevajo, da zagotovijo dodatno finančno premoženje (ali denarna sredstva), če vrednost finančnega premoženja za zavarovanje terjatev, kot se normalno meri, pade pod določeno raven.
TARGET (Trans-European Automated Real-time Gross settlement Express Transfer system): the real-time gross settlement system for the euro. It is a decentralised system consisting of 15 national RTGS systems, the ECB payment mechanism and the Interlinking mechanism.
Tesne povezave: stanje, ko je nasprotna stranka povezana z izdajateljem/dolžnikom/garantom dolžniških instrumentov zaradi naslednjega dejstva: (i) nasprotna stranka ima v lasti 20 % ali več izdajateljevega/dolžnikovega/garantovega kapitala ali eno ali več podjetij, v katerem(-ih) ima nasprotna stranka v lasti večino kapitala, ima(-jo) v lasti 20 % ali več izdajateljevega/dolžnikovega/garantovega kapitala ali nasprotna stranka in eno ali več podjetij, v katerem(-ih) ima nasprotna stranka v lasti večino kapitala, skupaj ima(-jo) v lasti 20 % ali več izdajateljevega/dolžnikovega/garantovega kapitala; ali(ii) izdajatelj/dolžnik/garant ima v lasti 20 % ali več kapitala nasprotne stranke ali eno ali več podjetij, v katerem(-ih) ima izdajatelj/dolžnik/garant v lasti večino kapitala, ima(-jo) v lasti 20 % ali več kapitala nasprotne stranke ali izdajatelj in eno ali več podjetij, v katerem(-ih) ima izdajatelj/dolžnik/garant v lasti večino kapitala, skupaj ima(-jo) v lasti 20 % ali več kapitala nasprotne stranke; ali (iii) tretja oseba ima v lasti večino kapitala nasprotne stranke in večino izdajateljevega/dolžnikovega/garantovega kapitala, in sicer bodisi neposredno ali posredno prek enega ali več podjetij, v katerem(-ih) ima ta tretja oseba v lasti večino kapitala.
www.oenb.at
www.oenb. at
CSD central securities depository EC European Community
ECAF bonitetni okvir Eurosistema
MMF money market fund
NCB nacionalna centralna banka
the credit claim agreement, and
posojilno pogodbo,
The Eurosystem’s benchmark for establishing its minimum requirement for high credit standards (its ‘credit quality threshold’) is defined in terms of a ‘single A’ credit assessment [63]. The Eurosystem considers a probability of default (PD) over a one-year horizon of 0.10 % as equivalent to a ‘single A’ credit assessment, subject to a regular review.
Poleg tega Eurosistem pri ocenjevanju bonitetnega standarda upošteva tudi institucionalna merila in posebnosti, ki imetniku instrumenta zagotavljajo podobno zaščito, kot so npr. jamstva.
The financial soundness of the guarantor is assessed on the basis of ECAI credit assessments meeting the Eurosystem’s credit quality threshold. The guarantee must meet the following requirements:
Če bonitetna ocena (sprejemljive) zunanje bonitetne institucije za izdajatelja ni na voljo, je mogoče visoke bonitetne standarde ugotoviti na podlagi jamstev, ki jih dajo finančno trdni garanti.
Pooling system Second, it is assumed that the transactions are carried out with a national central bank using a pooling system.
V drugem primeru se predpostavlja, da se za transakcije z nacionalno centralno banko uporablja sistem s skladom finančnega premoženja.
National central bank (NCB): as used in this document, a central bank of an EU Member State which has adopted the single currency in accordance with the Treaty. NCB business day: any day on which the national central bank of a specific Member State is open for the purpose of conducting Eurosystem monetary policy operations.
Poleg tega sta za strukturne operacije na voljo še izdaja dolžniških certifikatov in dokončne transakcije, medtem ko so za izvajanje operacij finega uravnavanja na voljo dokončne transakcije, valutne zamenjave in zbiranje vezanih vlog.
Pooling system: see collateral pooling system. Post-fixed coupon: a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index on a certain date (or dates) during the coupon accrual period.
Poravnalni sistem vrednostnih papirjev (PSVP): sistem, ki dovoljuje imetje in prenos vrednostnih papirjev ali drugega finančnega premoženja, bodisi brez plačila (free of payment, FOP) ali proti plačilu (dostava proti plačilu).
Quick tenders are executed within a time frame of 90 minutes and are restricted to a limited set of counterparties. Rating tools (RTs): a credit quality assessment source provided for in the Eurosystem credit assessment framework (ECAF) that comprises third-party applications that assess the credit quality of debtors by using, among other information, audited accounts.
Poravnava po sistemu dostave proti plačilu (hkratna denarna poravnava in poravnava vrednostnih papirjev v realnem času, delivery versus payment, DVP): mehanizem, ki zagotavlja, da je dokončen prenos finančnega premoženja (vrednostnih papirjev ali drugih finančnih instrumentov) opravljen, ko in samo, če pride do dokončnega prenosa drugega finančnega premoženja (ali premoženj).
a fixed, unconditional principal amount; and
fiksen, brezpogojni znesek glavnice;
be legally acquired in accordance with the laws of a Member State from the originator or an intermediary by the securitisation special-purpose vehicle in a manner which the Eurosystem considers to be a ‘true sale’ that is enforceable against any third party, and be beyond the reach of the originator and its creditors, including in the event of the originator’s insolvency; and
mora nosilec s posebnim namenom pri listinjenju zakonito pridobiti od originatorja ali posrednika v skladu s predpisi države članice na način, ki ga Eurosistem šteje za „pravo prodajo“, izvršljivo proti tretjim osebam, finančno premoženje pa mora biti tudi zunaj dosega originatorja in njegovih upnikov, tudi v primeru originatorjeve insolventnosti;
IDC=–Mt+τ
PDC=–Mt+τ
This day-count convention is applied in Eurosystem monetary policy operations. American auction: see multiple rate auction.
Avkcija z enotno obrestno mero (avkcija nizozemskega tipa): avkcija, v kateri je dodelitvena obrestna mera (ali cena/swap točke), uporabljena za vse sprejete protiponudbe, enaka mejni obrestni meri.
Standard tenders are carried out within a time frame of 24 hours. All counterparties fulfilling the general eligibility criteria are entitled to submit bids in standard tenders.
Standardne avkcije se izvedejo v časovnem okviru 24 ur. Vse nasprotne stranke, ki izpolnjujejo splošna merila primernosti, imajo pravico, da predložijo protiponudbe na standardnih avkcijah.
in SSS B SSS A SSS B
Posojilo
Bids at a rate above the maximum bid rate announced by the ECB are discarded. Member State: as used in this document, an EU Member State which has adopted the single currency in accordance with the Treaty.
Odprta ponudba mejnega depozita: odprta ponudba Eurosistema, ki jo nasprotne stranke lahko uporabijo za plasiranje depozitov čez noč pri nacionalni centralni banki in ki se obrestujejo po vnaprej določeni obrestni meri.
ECB time (CET) at the latest. Instructions or deliveries not respecting this deadline will only be considered for credit given on the following business day.
Poleg tega mora nasprotna stranka zagotoviti, da se finančno premoženje za zavarovanje terjatev v operacijah denarne politike dostavi na račun korespondenčne centralne banke najkasneje do 16.45 ure po času ECB (srednjeevropski čas).
Open market operation: an operation executed on the initiative of the central bank in the financial market. With regard to their aims, regularity and procedures, Eurosystem open market operations can be divided into four categories: main refinancing operations, longer-term refinancing operations, fine-tuning operations and structural operations.
Plačilni mehanizem ECB (EPM): plačilna ureditev, organizirana v okviru ECB in povezana s sistemom TARGET za namen opravljanja: (i) plačil med računi, ki se vodijo pri ECB; in (ii) plačil med računi, ki se vodijo pri ECB in pri nacionalnih centralnih bankah prek sistema TARGET.
Reserve base: the sum of the balance sheet items which constitute the basis for calculating the reserve requirement of a credit institution. Reserve holdings: counterparties’ holdings on their reserve accounts which serve to fulfil reserve requirements.
Repo pogodba (pogodba o začasnem nakupu): pogodba, po kateri se finančno premoženje proda, istočasno pa prodajalec pridobi pravico in obveznost, da finančno premoženje ponovno kupi po določeni ceni na datum v prihodnosti ali na poziv.
Type of asset: It must be a debt instrument (a promissory note or a bill of exchange) that is secured by a pool of residential mortgages and that falls short of full securitisation. Substitution of assets in the underlying pool must be possible and a mechanism needs to be in place to ensure that the Eurosystem enjoys priority over creditors other than those exempted for public policy reasons [56].
Vrsta finančnega premoženja.
the verification of the existence of credit claims; the notification of the debtor about the mobilisation of the credit claim or the registration of such mobilisation;
Netržne hipotekarne dolžniške instrumente je treba upravljati v skladu s postopki Eurosistema, kakor so določeni v ustrezni nacionalni dokumentaciji.
the absence of restrictions on the mobilisation of the credit claim; the absence of restrictions on the realisation of the credit claim.
Netržni hipotekarni dolžniški instrumenti morajo biti denominirani v eurih [56] Glej opombo 13 v tem poglavju. .
Acceptance criteria for credit assessment systems The ECAF builds on credit assessment information from four sources.
Merila sprejemljivosti za bonitetne sisteme
The accepted ECAIs, ICASs and third-party RTs and their providers are listed on the ECB’s website (www.ecb.int) [77]. External credit assessment institution source
Znotraj vsakega vira lahko obstaja sklop bonitetnih sistemov.
Valuation principles for underlying assets When determining the value of underlying assets used in reverse transactions, the Eurosystem applies the following principles:
Načela vrednotenja finančnega premoženja za zavarovanje terjatev
Marketable assets For each eligible marketable asset, the Eurosystem defines the most representative price source to be used for the calculation of the market value.
Eurosistem pri določanju vrednosti finančnega premoženja za zavarovanje terjatev, ki se uporablja pri povratnih transakcijah, uporablja naslednja načela.
Country B NCB A
Država A
on collateral Credit SSS A
NCB A
holds assets on an omnibus account
Podatki o zavarovanju
Transfer instruction Counterparty A
PSVP A ima sredstva na zbirnem računu v SSS B
ANNEX 2 GLOSSARY
Avkcija nizozemskega tipa: glej avkcija z enotno obrestno mero.
External credit assessment institution (ECAI): a credit quality assessment source provided for in the Eurosystem credit assessment framework (ECAF) that comprises those institutions whose credit assessments may be used by credit institutions for the determination of risk weight exposures according to the Capital Requirements Directive. These institutions are subject to a formal recognition and validation process by the national supervisors.
Interni bonitetni sistem nasprotne stranke (IRB): vir bonitetne ocene, opredeljen v bonitetnem okviru Eurosistema (Eurosystem credit assessment framework, ECAF), ki obsega interne sisteme tistih nasprotnih strank, katerih sistem dodeljevanja bonitetnih ocen se lahko uporabljajo za ugotavljanje uteži tveganosti v skladu z direktivo o kapitalskih zahtevah.
These systems are subject to a formal recognition and validation process by the national supervisors. International Securities Identification Number (ISIN): an international identification code assigned to securities issued in financial markets.
Sledi, da je kreditna institucija: (i) družba, ki se ukvarja s sprejemanjem vlog ali drugih odplačljivih sredstev od javnosti in z odobritvijo posojil za svoj lastni račun; ali (ii) družba ali katera koli druga pravna oseba, razen tistih pod (i), ki izdaja plačilna sredstva v obliki elektronskega denarja.
Intraday credit: credit extended for a period of less than one business day. It may be extended by central banks to even out mismatches in payment settlements and can take the form of: (i) a collateralised overdraft, or (ii) a lending operation against a pledge or in a repurchase agreement.
„Elektronski denar“ pomeni denarno vrednost, ki predstavlja terjatev do izdajatelja in ki je: (a) shranjena na elektronskem mediju, (b) izdana na podlagi prejema sredstev v znesku, ki ni nižji od izdane denarne vrednosti, in (c) jo družbe, ki niso izdajatelj, sprejemajo kot plačilno sredstvo.
Similarly, if the value of the underlying assets, following their revaluation, exceeds a certain level, the counterparty may retrieve the excess assets or cash. See also Section 6.4. Volume tender: see fixed rate tender.
Eurosistem lahko predpiše zgornji znesek protiponudb, da se na ta način izogne nesorazmerno velikim protiponudbam posameznih sodelujočih strank.
on the legal framework for accounting and financial reporting in the European System of Central Banks
o pravnem okviru za računovodstvo in finančno poročanje v Evropskem sistemu centralnih bank
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Articles 12.1, 14.3 and 26.4 thereof,
ob upoštevanju Statuta Evropskega sistema centralnih bank in Evropske centralne banke in zlasti členov 12.1, 14.3 in 26.4 Statuta,
Having regard to the contribution of the General Council of the European Central Bank (ECB) pursuant to the second and third indents of Article 47.2 of the Statute,
ob upoštevanju prispevka Razširjenega sveta Evropske centralne banke (ECB), v skladu z drugo in tretjo alinejo člena 47.2 Statuta,
The European System of Central Banks (ESCB) is subject to reporting commitments under Article 15 of the Statute.
Evropski sistem centralnih bank (ESCB) je obvezan poročati v skladu s členom 15 Statuta.
Pursuant to Article 26.3 of the Statute, the Executive Board draws up a consolidated balance sheet of the ESCB for analytical and operational purposes.
V skladu s členom 26.3 Statuta pripravi Izvršilni odbor konsolidirano bilanco stanja ESCB za analitične in operativne namene.