natgillin/translations-raw huggingface dataset:
Until 31 December 2012, for investment firms the relevant indicator for the trading and sales business line of which represents at least 50 % of the total of relevant indicators for all of their business lines calculated in accordance with Article 20 of this Directive and points 1 to 4 of Part 2 of Annex X to Directive 2006/48/EC, Member States may apply a percentage of 15 % to the business line ‘trading and sales’.
Za investicijska podjetja, katerih ustrezni kazalec za poslovno področje trgovanja in prodaje do 31. decembra 2012 predstavlja vsaj 50 % vsote ustreznih kazalcev za vsa poslovna področja, izračunane v skladu s členom 20 te direktive in odstavkov 1 do 7 dela 2 Priloge X k Direktivi 2006/48/ES, lahko države članice uporabijo odstotek 15 % za poslovno področje ”trgovanje in prodaja”.
Competent authorities may permit investment firms to exceed the limits concerning large exposures set out in Article 111 of Directive 2006/48/EC.
Pristojni organi lahko investicijskim podjetjem dovolijo, da presežejo zgornje meje velikih izpostavljenosti iz člena 111 Direktive 2006/48/ES.
Investment firms need not include any excesses in their calculation of capital requirements exceeding such limits, as set out in Article 75(b) of that Directive.
Investicijskim podjetjem ni treba upoštevati vseh prekoračitev pri izračunu kapitalskih zahtev, ki presegajo te omejitve, kakor je predvideno v členu 75(b) navedene direktive.
This discretion is available until 31 December 2010 or the date of entry into force of any modifications consequent to the treatment of large exposures pursuant to Article 119 of Directive 2006/48/EC, whichever is the earlier.
Takšno presojanje bo veljalo do 31. decembra 2010 ali do začetka veljave morebitnih sprememb v zvezi z obravnavo velikih izpostavljenosti, skladnih s členom 119 Direktive 2006/48/ES, če bodo te spremembe začele veljati pred zgornjim datumom.
For this discretion to be exercised, the following conditions shall be met:
Za presojanje morajo biti izpolnjeni pogoji (a) do (d):
the investment firm provides investment services or investment activities related to the financial instruments listed in points 5, 6, 7, 9 and 10 of Section C of Annex I to Directive 2004/39/EC;
investicijsko podjetje zagotavlja investicijske storitve ali izvaja investicijske dejavnosti, povezane s finančnimi instrumenti, naštetimi v odstavkih 5, 6, 7, 9 in 10 oddelka C Priloge I k Direktivi 2004/39 ES;
the investment firm does not provide such investment services or undertake such investment activities for, or on behalf of, retail clients;
investicijsko podjetje teh investicijskih storitev ne zagotavlja ali teh investicijskih dejavnosti ne izvaja za majhne stranke investitorje ali v njihovem imenu;
breaches of the limits referred to in the introductory part of this paragraph arise in connection with exposures resulting from contracts that are financial instruments as listed in point (a) and relate to commodities or underlyings within the meaning of point 10 of Section C of Annex I to Directive 2004/39/EC (MiFID) and are calculated in accordance with Annexes III and IV of Directive 2006/48/EC, or in connection with exposures resulting from contracts concerning the delivery of commodities or emission allowances; and
kršitve omejitev iz uvodnega dela tega odstavka so povezane z izpostavljenostmi, izvirajočimi iz pogodb, ki so po točki (a) finančni instrumenti in povezani z blagom ali osnovnimi instrumenti v smislu odstavka 10 oddelka C Priloge I k Direktivi 2004/39/ES (MiFID) ter se izračunavajo v skladu s Prilogama III in IV Direktive 2006/48/ES, ali v povezavi z izpostavljenostmi, ki izhajajo iz pogodb o poravnavi blaga ali emisijskih pravicah; in
the investment firm has a documented strategy for managing and, in particular, for controlling and limiting risks arising from the concentration of exposures.
investicijsko podjetje ima dokumentirano strategijo upravljanja, zlasti za nadzorovanje in omejevanje tveganj, ki izhajajo iz koncentracije izpostavljenosti.
The investment firm shall inform the competent authorities of this strategy and all material changes to it without delay.
Investicijsko podjetje mora nemudoma obvestiti pristojne organe o tej strategiji in o vseh njenih bistvenih spremembah.
The investment firm shall make appropriate arrangements to ensure a continuous monitoring of the creditworthiness of borrowers, according to their impact on concentration risk.
Investicijsko podjetje sprejme ustrezne ukrepe, da zagotovi stalno spremljanje bonitete kreditojemalcev glede na njihov vpliv na tveganje koncentracije.
These arrangements shall enable the investment firm to react adequately and sufficiently promptly to any deterioration in that creditworthiness.
Investicijsko podjetje se mora biti na podlagi teh ukrepov sposobno primerno in pravočasno odzivati na morebitno poslabšanje bonitete.
Where an investment firm exceeds the internal limits set according to the strategy referred to in point (d) of paragraph 1, it shall notify the competent authority without delay of the size and nature of the excess and of the counterparty.
Če investicijsko podjetje preseže notranje zgornje omejitve, določene v skladu s strategijo iz točke (d) odstavka 1, mora pristojne organe nemudoma obvestiti o vrsti in obsegu prekoračitve ter o nasprotni stranki.
By way of derogation from Article 20(1), until 31 December 2011 competent authorities may choose, on a case-by-case basis, not to apply the capital requirements arising from point (d) of Article 75 of Directive 2006/48/EC in respect of investment firms to which Article 20(2) and (3) do not apply, whose total trading book positions never exceed EUR 50 million and whose average number of relevant employees during the financial year does not exceed 100.
Z odstopanjem od člena 20(1) se lahko pristojni organi do 31. decembra 2011 v posameznih primerih odločijo, da ne bodo uporabili kapitalskih zahtev, ki izhajajo iz točke (d) člena 75 Direktive 2006/48/ES, za investicijska podjetja, za katera člen 20(2) in (3) ne velja, katerih skupne pozicije trgovalne knjige nikoli ne presegajo 50000000 EUR in pri katerih povprečno število aktivno zaposlenih v finančnem letu ne preseže 100.
Instead, the capital requirement in relation to those investment firms shall be at least the lower of:
Namesto tega je kapitalska zahteva enaka vsaj najnižji vrednosti:
the capital requirements arising from point (d) of Article 75 of Directive 2006/48/EC; and
kapitalskih zahtev, ki izhajajo iz točke (d) člena 75 Direktive 2006/48/ES; in
12/88 of the higher of the following:
12/88 od višje vrednosti naslednjega:
the amount laid down in Article 21 of this Directive, notwithstanding Article 20(5).
zneska, določenega v členu 21 te direktive, ne glede na člen 20(5).
If point (b) applies, an incremental increase shall be applied on at least an annual basis.
Če se uporablja točka (b), se uporabi posamezno povečanje najmanj na letni osnovi.
Applying this derogation shall not result in a reduction in the overall level of capital requirements for an investment firm, in comparison to the requirements as at 31 December 2006, unless such a reduction is prudentially justified by a reduction in the size of the investment firm's business.
Z uporabo tega odstopanja se raven kapitalskih zahtev za investicijsko podjetje v primerjavi z zahtevami 31. decembra 2006 ne zniža, razen če takšno znižanje je upravičeno zaradi zmanjšanega obsega poslovanja investicijskega podjetja.
Until 31 December 2009 or any earlier date specified by the competent authorities on a case-by-case basis, institutions that have received specific risk model recognition prior to 1 January 2007 in accordance with point 1 of Annex V may, for that existing recognition, treat points 4 and 8 of Annex V to Directive 93/6/EEC as those points stood prior to 1 January 2007.
Do 31. decembra 2009 ali drugega zgodnejšega datuma, ki ga določijo pristojni organi za vsak primer posebej, lahko institucije, ki so v skladu z odstavkom 1 Priloge V prejele priznanje modela za posebno pozicijsko tveganje pred 1. januarjem 2007, na podlagi tega obstoječega priznanja obravnavajo odstavka 4 in 8 Priloge V k Direktivi 93/6/EGS, kot sta navedena odstavka veljala pred 1. januarjem 2007.
The provisions on capital requirements as laid down in this Directive and Directive 2006/48/EC shall not apply to investment firms whose main business consists exclusively of the provision of investment services or activities in relation to the financial instruments set out in points 5, 6, 7, 9 and 10 of Section C of Annex I to Directive 2004/39/EC and to whom Directive 93/22/EEC did not apply on 31 December 2006.
Določbe o kapitalskih zahtevah iz te direktive in Direktive 2006/48/ES ne veljajo za investicijska podjetja, katerih glavne dejavnosti obsegajo izključno zagotavljanje investicijskih storitev ali izvajanje dejavnosti v zvezi s finančnimi instrumenti, določenimi v odstavkih 5,6,7, 9 in 10 oddelka C Priloge I k Direktivi 2004/39/ES, in za katere se dne 31. decembra 2006 Direktiva 93/22/EGS ni veljala.
This exemption is available until 31 December 2010 or the date of entry into force of any modifications pursuant to paragraphs 2 and 3, whichever is the earlier.
Izjema velja do 31. decembra 2010 ali do začetka veljave morebitnih sprememb v skladu z odstavkoma 2 in 3, če bodo te spremembe začele veljati pred zgornjim datumom.
As part of the review required by Article 65(3) of Directive 2004/39/EC, the Commission shall, on the basis of public consultations and in the light of discussions with the competent authorities, report to the Parliament and the Council on:
V okviru revizije, zahtevane v členu 65(3) Direktive 2004/39/ES, Komisija na podlagi javnih posvetovanj in v luči razprav s pristojnimi organi poroča Evropskemu parlamentu in Svetu o:
an appropriate regime for the prudential supervision of investment firms whose main business consists exclusively of the provision of investment services or activities in relation to the commodity derivatives or derivatives contracts set out in points 5, 6, 7, 9 and 10 of Section C of Annex I to Directive 2004/39/EC; and
ustrezni ureditvi skrbnega nadzora investicijskih podjetij, katerih glavne dejavnosti obsegajo izključno zagotavljanje investicijskih storitev ali izvajanje investicijskih dejavnosti, povezanih z izvedenimi finančnimi instrumenti na blago ali z izvedenimi finančnimi instrumenti, navedenimi pod točkami 5, 6, 7, 9 in 10 oddelka C Priloge I k Direktivi 2004/39 ES; in
the desirability of amending Directive 2004/39/EC to create a further category of investment firm whose main business consists exclusively of the provision of investment services or activities in relation to the financial instruments set out in points 5, 6, 7, 9 and 10 of Section C of Annex I to Directive 2004/39/EC relating to energy supplies (including electricity, coal, gas and oil).
smotrnost spreminjanja Direktive 2004/39/ES zaradi ustvarjanja nove kategorije investicijskih podjetij, katerih glavne dejavnosti obsegajo izključno zagotavljanje investicijskih storitev ali izvajanje investicijskih dejavnosti, povezanih s finančnimi instrumenti, navedenimi pod točkami 5, 6, 7, 9 in 10 oddelka C Priloge I k Direktivi 2004/39 ES v zvezi z oskrbo z energijo (vključno z elektriko, premogom, plinom in nafto).
On the basis of the report referred to in paragraph 2, the Commission may submit proposals for amendments to this Directive and to Directive 2006/48/EC
Na podlagi poročila iz odstavka 2 lahko Komisija da predloge za ustrezno spremembo te direktive in Direktive 2006/48/ES.
Member States shall adopt and publish, by 31 December 2006, the laws, regulations and administrative provisions necessary to comply with Articles 2, 3, 11, 13, 17, 18, 19, 20, 22, 23, 24, 25, 29, 30, 33, 34, 35, 37, 39, 40, 41, 43, 44, 50 and the Annexes I, II, III, V, VII.
Države članice do 31. decembra 2006 sprejmejo in objavijo zakone in druge predpise, potrebne za uskladitev s členi 2, 3, 11, 13, 17, 18, 19, 20, 22, 23, 24, 25, 29, 30, 33, 34, 35, 37, 39, 40, 41, 43, 44, 50 in Prilogami I, II, III, V, VII.
They shall apply those provisions from 1 January 2007.
Navedeni predpisi se začnejo uporabljati od 1. januarja 2007.
They shall also include a statement that references in existing laws, regulations and administrative provisions to the directives repealed by this Directive shall be construed as references to this Directive.
Vključijo tudi izjavo, da se sklicevanja v obstoječih zakonih in drugih predpisih na direktive, ki jih ta direktiva razveljavlja, štejejo za sklicevanja na to direktivo.
Member States shall communicate to the Commission the text of the main provisions of national law which they adopt in the field covered by this Directive.
Države članice Komisiji sporočijo besedilo temeljnih določb nacionalnih predpisov sprejetih na področju, ki ga ureja ta direktiva.
Article 152(8) to (14) of Directive 2006/48/EC shall apply mutatis mutandis for the purposes of this Directive subject to the following provisions which shall apply where the discretion referred to in Article 152(8) of Directive 2006/48/EC is exercised:
Člen 152(8) do (14) Direktive 2006/48/ES se smiselno uporablja za namene te direktive v skladu z naslednjimi določbami, ki veljajo, če se uporablja diskrecijo iz člena 152(8) Direktive 2006/48/ES:
references in point 7 of Annex II to this Directive to Directive 2006/48/EC shall be read as references to Directive 2000/12/EC as that Directive stood prior to 1 January 2007; and
sklicevanja v odstavku 7 Priloge II k tej direktivi na Direktivo 2006/48/ES se štejejo za sklicevanja na Direktivo 2000/12/ES v obliki navedene direktive, v kakršni je bila pred 1. januarjem 2007; in
point 4 of Annex II to this Directive shall apply as it stood prior to 1 January 2007.
odstavek 4 Priloge II k tej Direktivi se uporablja v obliki, v kakršni je bil pred 1. januarjem 2007.
Article 157(3) of Directive 2006/48/EC shall apply mutatis mutandis for the purposes of Articles 18 and 20 of this Directive.
Člen 157(2) Direktive 2006/48/ES se smiselno uporablja za namene členov 18 in 20 te direktive.
By 1 January 2011, the Commission shall review and report on the application of this Directive and submit its report to the Parliament and the Council together with any appropriate proposals for amendment.
Komisija do 1. januarja 2011 pregleda in poroča o uporabi te direktive ter svoje poročilo skupaj z ustreznimi predlogi sprememb predloži Parlamentu in Svetu.
Directive 93/6/EEC, as amended by the Directives listed in Annex VIII, Part A, is repealed, without prejudice to the obligations of the Member States relating to the time-limits for transposition into national law of the Directives set out in Annex VIII, Part B.
Direktiva 93/6/EGS, spremenjena z direktivami, naštetimi v delu A Priloge VIII, se razveljavi brez poseganja v obveznosti držav članic v zvezi z roki za prenos direktiv iz dela B Priloge VIII v nacionalno zakonodajo.
References made to the repealed directives shall be construed as being made to this Directive and should be read in accordance with the correspondence table set out in Annex IX.
Sklicevanja na razveljavljene direktive se štejejo kot sklicevanja na to direktivo in se berejo v skladu s korelacijsko tabelo iz Priloge IX.
Done at Strasbourg, 14 June 2006.
V Strasbourgu 14. junij 2006.
See page 1 of this official Journal
Glej stran 1 tega Uradnega lista.
Directive as amended by Directive 2005/1/EC.
Direktiva, kakor je bila nazadnje spremenjena z Direktivo 2005/1/ES.
Directive as last amended by Directive 2002/87/EC.
Direktiva, kakor je bila nazadnje spremenjena z Direktivo 2002/87/ES.
CALCULATING CAPITAL REQUIREMENTS FOR POSITION RISK
IZRAČUN KAPITALSKIH ZAHTEV ZA POZICIJSKO TVEGANJE
Netting
Ugotavljanje neto pozicije
The excess of an institution's long (short) positions over its short (long) positions in the same equity, debt and convertible issues and identical financial futures, options, warrants and covered warrants shall be its net position in each of those different instruments.
Presežna vrednost dolgih (kratkih) pozicij institucije nad njenimi kratkimi (dolgimi) pozicijami v istovrstnih lastniških, dolžniških in zamenljivih vrednostnih papirjih ter identičnih finančnih terminskih pogodbah (finančni futures), opcijah, nakupnih bonih, kritih nakupnih bonih je njena neto pozicija v vsakem od teh različnih instrumentov.
In calculating the net position the competent authorities shall allow positions in derivative instruments to be treated, as laid down in points 4 to 7, as positions in the underlying (or notional) security or securities.
Pri izračunavanju neto pozicije pristojni organi dovolijo, da se pozicije v izvedenih finančnih instrumentih v skladu z odstavki 4 do 7 obravnavajo kot pozicije v osnovnih (ali hipotetičnih) vrednostnih papirjih.
Institutions' holdings of their own debt instruments shall be disregarded in calculating specific risk under point 14.
Lastni dolžniški instrumenti institucije se pri izračunavanju posebnega pozicijskega tveganja iz odstavka 14 ne upoštevajo.
No netting shall be allowed between a convertible and an offsetting position in the instrument underlying it, unless the competent authorities adopt an approach under which the likelihood of a particular convertible's being converted is taken into account or have a capital requirement to cover any loss which conversion might entail.
Ne dovoli se nobeno pobotanje med zamenljivim vrednostnim papirjem in pozicijo v njegovem osnovnem finančnem instrumentu, razen če pristojni organi izberejo pristop, ki upošteva verjetnost izvršitve zamenjave določenega zamenljivega vrednostnega papirja ali če je izpolnjena kapitalska zahteva za kritje vsakršne izgube, ki bi lahko izhajala iz zamenjave.
All net positions, irrespective of their signs, must be converted on a daily basis into the institution's reporting currency at the prevailing spot exchange rate before their aggregation.
Vse neto pozicije, ne glede na njihov predznak, je treba vsak dan pred njihovim seštevkom spremeniti v valuto poročanja institucije po tržnem deviznem tečaju pred njegovim agregiranjem
Particular instruments
Posebni instrumenti
Interest‐rate futures, forward‐rate agreements (FRAs) and forward commitments to buy or sell debt instruments shall be treated as combinations of long and short positions.
Terminske pogodbe, na obrestno mero, dogovori o terminski obrestni meri („Forward Rate Agreements“ – FRA) in pogodbe o terminskem nakupu ali prodaji dolžniških instrumentov se obravnavajo kot kombinacije dolgih in kratkih pozicij.
Thus a long interest‐rate futures position shall be treated as a combination of a borrowing maturing on the delivery date of the futures contract and a holding of an asset with maturity date equal to that of the instrument or notional position underlying the futures contract in question.
Dolga pozicija terminske pogodbe na obrestno mero se tako obravnava kot kombinacija sposojenega sredstva, ki zapade na dan poravnave terminske pogodbe, in lastnega sredstva, katerega dan zapadlosti je enak dnevu zapadlosti instrumenta ali hipotetične pozicije, na katero se terminska pogodba nanaša.
Similarly a sold FRA will be treated as a long position with a maturity date equal to the settlement date plus the contract period, and a short position with maturity equal to the settlement date.
Podobno se prodan dogovor o terminski obrestni meri obravnava kot dolga pozicija z dnem zapadlosti, ki je enak dnevu poravnave plus pogodbeno obdobje, in kot kratka pozicija s sovpadajočim dnevom zapadlosti in poravnave.
Both the borrowing and the asset holding shall be included in the first category set out in Table 1 in point 14 in order to calculate the capital required against specific risk for interest‐rate futures and FRAs.
Tako sposojena sredstva kot tudi lastna sredstva se vključijo v prvo kategorijo, določeno v tabeli 1 v odstavku 14 za izračun potrebnega kapitala v zvezi s posebnim pozicijskim tveganjem za terminske pogodbe na obrestno mero in dogovore o terminski obrestni meri.
A forward commitment to buy a debt instrument shall be treated as a combination of a borrowing maturing on the delivery date and a long (spot) position in the debt instrument itself.
Pogodba o terminskem nakupu dolžniškega instrumenta se obravnava kot kombinacija sposojenega instrumenta, ki zapade na dan poravnave, in dolgo (promptno) pozicijo v samem dolžniškem instrumentu.
The borrowing shall be included in the first category set out in Table 1 in point 14 for purposes of specific risk, and the debt instrument under whichever column is appropriate for it in the same table.
Sposojeno sredstvo se vključi v prvo kategorijo, določeno v tabeli 1 v odstavku 14 za namene posebnega tveganja, dolžniško sredstvo pa v zanj ustrezni stolpec v isto tabelo.
The competent authorities may allow the capital requirement for an exchange‐traded future to be equal to the margin required by the exchange if they are fully satisfied that it provides an accurate measure of the risk associated with the future and that it is at least equal to the capital requirement for a future that would result from a calculation made using the method set out in this Annex or applying the internal models method described in Annex V. The competent authorities may also allow the capital requirement for an OTC derivatives contract of the type referred to in this point cleared by a clearing house recognised by them to be equal to the margin required by the clearing house if they are fully satisfied that it provides an accurate measure of the risk associated with the derivatives contract and that it is at least equal to the capital requirement for the contract in question that would result from a calculation made using the method set out in the this Annex or applying the internal models method described in Annex V.
Pristojni organi lahko dovolijo, da je kapitalska zahteva za terminske pogodbe, s katerimi se trguje na borzi, enaka kritju, ki ga zahteva borza, če so popolnoma prepričani, da to zagotavlja natančno merilo tveganja iz naslova terminske pogodbe in da je vsaj enako kapitalski zahtevi za terminsko pogodbo, če se ta izračuna po metodi iz te priloge ali z uporabo notranjih modelov iz Priloge V. Pristojni organi lahko dovolijo, da je kapitalska zahteva za pogodbo z OTC izvedenimi finančnimi instrumenti, ki upošteva določbe tega odstavka in jo poravna priznana klirinška družba, enaka kritju, ki ga zahteva klirinška družba, če so popolnoma prepričani, da to kritje zagotavlja natančno merilo tveganja iz naslova pogodbe z izvedenimi finančnimi instrumenti in je najmanj enako kapitalski zahtevi iz zadevne pogodbe, če se ta izračuna po metodi iz te priloge ali z uporabo notranjih modelov iz Priloge V.
For the purposes of this point, ‘long position’ means a position in which an institution has fixed the interest rate it will receive at some time in the future, and ‘short position’ means a position in which it has fixed the interest rate it will pay at some time in the future.
Za namene tega odstavka „dolga pozicija“ pomeni pozicijo, v kateri je institucija fiksirala obrestno mero, ki jo bo prejela enkrat v prihodnosti, in „kratka pozicija“ pomeni pozicijo, v kateri je fiksirala obrestno mero, ki jo bo enkrat v prihodnosti plačala.
Options on interest rates, debt instruments, equities, equity indices, financial futures, swaps and foreign currencies shall be treated as if they were positions equal in value to the amount of the underlying instrument to which the option refers, multiplied by its delta for the purposes of this Annex.
Opcije na obrestne mere, dolžniške finančne instrumente, lastniške finančne instrumente, delniške indekse, finančne terminske pogodbe, zamenjave in tuje valute se obravnavajo kot pozicije, katerih vrednost je enaka vrednosti osnovnega finančnega instrumenta, na katerega se opcija nanaša, pomnoženega s svojo delto za namene te priloge.
The latter positions may be netted off against any offsetting positions in the identical underlying securities or derivatives.
Slednje pozicije se lahko pobotajo z nasprotnimi v istovrstnih osnovnih vrednostnih papirjih ali izvedenih finančnih instrumentih.