natgillin/translations-raw huggingface dataset:
For other operations based on quick tenders and bilateral procedures (fine-tuning reverse transactions and the collection of fixed-term deposits), each NCB selects a set of counterparties from among the institutions established in its Member State which fulfil the general counterparty eligibility criteria.
Pri drugih operacijah, ki se izvajajo v obliki hitrih avkcij in dvostranskih postopkov (povratne transakcije finega uravnavanja in zbiranje vezanih depozitov), vsaka NCB izbere krog nasprotnih strank izmed institucij, ustanovljenih v njeni državi članici, ki izpolnjujejo splošna merila primernosti za nasprotne stranke.
Other criteria which might be taken into account are, for example, the efficiency of the trading desk and the bidding potential.
Druga merila, ki se lahko upoštevajo, so na primer učinkovitost njihovega oddelka za trgovanje in potencial za sodelovanje pri avkcijah.
In quick tenders and bilateral operations, the NCBs deal with the counterparties which are included in their respective set of fine-tuning counterparties.
Pri hitrih avkcijah in dvostranskih operacijah NCB sklepajo posle z nasprotnimi strankami, ki so vključene v krog njihovih nasprotnih strank za fino uravnavanje.
Quick tenders and bilateral operations may also be executed with a broader range of counterparties.
Hitre avkcije in dvostranske operacije se lahko izvajajo tudi s širšim krogom nasprotnih strank.
The Governing Council of the ECB can decide that, under exceptional circumstances, fine-tuning bilateral operations may be carried out by the ECB itself.
Svet ECB lahko odloči, da lahko v izrednih okoliščinah dvostranske operacije finega uravnavanja izvaja sama ECB.
If the ECB were to carry out bilateral operations, the selection of counterparties would in such cases be made by the ECB according to a rotation scheme among those counterparties in the euro area which are eligible for quick tenders and bilateral operations in order to ensure equitable access.
V primerih, ko bi dvostranske operacije izvajala ECB, bi izbrala nasprotne stranke po sistemu kroženja izmed tistih nasprotnih strank v euroobmočju, ki so primerne za sodelovanje pri hitrih avkcijah in dvostranskih operacijah, s čimer bi se jim zagotovil enakopraven dostop.
The ECB shall impose sanctions, in accordance with Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions [8], Regulation (EC) No 2157/1999 of the European Central Bank of 23 September 1999 on the powers of the European Central Bank to impose sanctions (ECB/1999/4) [9], Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank [10] and Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9) [11], on institutions which do not comply with obligations arising from ECB Regulations and Decisions relating to the application of minimum reserves.
ECB naloži institucijam, ki ne izpolnjujejo obveznosti iz uredb in sklepov ECB v zvezi z uporabo obveznih rezerv, sankcije v skladu z Uredbo Sveta (ES) št. 2532/98 z dne 23. novembra 1998 o pooblastilih Evropske centralne banke za nalaganje sankcij [8], Uredbo Evropske centralne banke (ES) št. 2157/1999 z dne 23. septembra 1999 o pooblastilih Evropske centralne banke za nalaganje sankcij (ECB/1999/4) [9], Uredbo Sveta (ES) št. 2531/98 z dne 23. novembra 1998 o uporabi obveznih rezerv Evropske centralne banke [10] in Uredbo Evropske centralne banke (ES) št. 1745/2003 z dne 12. septembra 2003 o uporabi obveznih rezerv (ECB/2003/9) [11].
The relevant sanctions and the procedural rules for their application are specified in the abovementioned Regulations.
V zgoraj navedenih uredbah so določeni ustrezne sankcije in postopkovna pravila za njihovo izvajanje.
In addition, in the case of serious infringements of the minimum reserve requirements, the Eurosystem may suspend counterparties’ participation in open market operations.In accordance with the provisions of the contractual or regulatory arrangements applied by the respective NCB (or by the ECB), the Eurosystem can and will impose financial penalties on counterparties, or suspend counterparties’ participation in open market operations, if counterparties fail to comply with their obligations under the contractual or regulatory arrangements applied by the NCBs (or by the ECB) as set out below.
Poleg tega lahko Eurosistem v primeru hudih kršitev zahtev za obvezne rezerve nasprotne stranke začasno izključi iz sodelovanja pri operacijah odprtega trga.V skladu z določbami pogodbenih dogovorov ali predpisov, ki jih uporablja zadevna NCB (ali ECB), lahko Eurosistem nasprotnim strankam naloži in tudi bo naložil denarne kazni ali jih začasno izključil iz sodelovanja pri operacijah odprtega trga, če ne bodo izpolnile svojih obveznosti po pogodbenih dogovorih ali predpisih, ki jih uporablja zadevna NCB (ali ECB), kakor je navedeno spodaj.
This relates to cases of infringement of: (a) tender rules, if a counterparty fails to transfer a sufficient amount of underlying assets or cash [12] to settle (at the settlement day), or to collateralise, until the maturity of the operation by means of corresponding margin calls, the amount of liquidity it has been allotted in a liquidity-providing operation, or if it fails to transfer a sufficient amount of cash to settle the amount it has been allotted in a liquidity-absorbing operation; and (b) bilateral transaction rules, if a counterparty fails to transfer a sufficient amount of eligible underlying assets, or if it fails to transfer a sufficient amount of cash to settle the amount agreed in bilateral transactions, or if it fails to collateralise an outstanding bilateral transaction at any time until its maturity by means of corresponding margin calls.
To velja za primere kršitev (a) avkcijskih pravil, če nasprotna stranka ne prenese zadostnega finančnega premoženja za zavarovanje terjatev ali denarnih sredstev [12] za poravnavo (na dan poravnave) zneska likvidnosti, ki ji je bil dodeljen v operaciji povečevanja likvidnosti, ali pa za ta znesek do zapadlosti operacije ne zagotovi dodatnega zavarovanja v ustreznih pozivih h kritju oziroma če ne prenese zadostnih denarnih sredstev za poravnavo zneska, ki ji je bil dodeljen v operaciji umikanja likvidnosti; in (b) pravil za dvostranske transakcije, če nasprotna stranka ne prenese zadostnega primernega finančnega premoženja za zavarovanje terjatev ali zadostnih denarnih sredstev za poravnavo zneska, dogovorjenega v dvostranskih operacijah, ali pa za še nezapadlo dvostransko transakcijo kadar koli pred zapadlostjo ne zagotovi dodatnega zavarovanja v ustreznih pozivih h kritju.
This also applies to cases of non-compliance by a counterparty with: (a) the rules for the use of underlying assets (if a counterparty is using assets which are or have become ineligible, or which may not be used by the counterparty, e.g. owing to close links between, or the identity of, issuer/guarantor and counterparty); and (b) the rules for end-of-day procedures and access conditions for the marginal lending facility (if a counterparty which has a negative balance on the settlement account at the end of the day does not fulfil the access conditions for the marginal lending facility).
To velja tudi za primere, ko nasprotna stranka ne spoštuje: (a) pravil za uporabo finančnega premoženja za zavarovanje terjatev (če nasprotna stranka uporablja finančno premoženje, ki je neprimerno ali je postalo neprimerno ali ki ga nasprotna stranka ne sme uporabljati, na primer zaradi tesnih povezav med izdajateljem/garantom in nasprotno stranko ali zato ker sta to isti osebi); in (b) pravil za postopke ob koncu dneva ter pogojev dostopa do mejnega posojila (če nasprotna stranka, ki ima ob koncu dneva negativno stanje na poravnalnem računu, ne izpolnjuje pogojev dostopa do mejnega posojila).
In addition, a suspension measure taken vis-à-vis a non-complying counterparty may be applied to branches of the same institution established in other Member States.
Poleg tega se lahko ukrep začasne izključitve nasprotne stranke, ki ne izpolni obveznosti, uporabi tudi za podružnice iste institucije, ki so ustanovljene v drugih državah članicah.
Where, as an exceptional measure, this is required on account of the seriousness of a case of non-compliance, as evidenced by its frequency or duration, for instance, a counterparty may be suspended from all future monetary policy operations for a certain period of time.
Izjemoma se lahko nasprotno stranko za določeno obdobje izključi iz sodelovanja pri vseh prihodnjih operacijah denarne politike, kadar je to potrebno zaradi resnosti primera neizpolnjevanja obveznosti, na primer zaradi njegove pogostosti ali trajanja.
Financial penalties imposed by NCBs in the event of non-compliance in relation to a breach of the rules concerning tender operations, bilateral transactions, underlying assets, end-of-day procedures or the access conditions to the marginal lending facility are calculated at a pre-specified penalty rate (as set out in Appendix 6).
Denarne kazni, ki jih naložijo NCB v primeru neizpolnjevanja obveznosti, ki se nanaša na kršitve pravil v zvezi z avkcijami, dvostranskimi transakcijami, finančnim premoženjem za zavarovanje terjatev, postopki ob koncu dneva ali pogoji dostopa do mejnega posojila, se izračunajo po vnaprej določeni kazenski obrestni meri (kakor je navedeno v dodatku 6).
The Eurosystem may take the following measures on the grounds of prudence:
Eurosistem lahko zaradi razlogov skrbnega in varnega poslovanja sprejme naslednje ukrepe:
in accordance with the contractual or regulatory arrangements applied by the respective NCB or by the ECB, the Eurosystem may suspend, limit or exclude an individual counterparty’s access to monetary policy instruments;
v skladu s pogodbenimi dogovori ali predpisi, ki jih uporablja zadevna NCB ali ECB, lahko Eurosistem pri posamezni nasprotni stranki začasno ali trajno izključi ali omeji dostop do instrumentov denarne politike;
the Eurosystem may reject, limit the use of or apply supplementary haircuts to assets submitted as collateral in Eurosystem credit operations by specific counterparties.
Eurosistem lahko finančno premoženje, ki ga za zavarovanje pri kreditnih poslih Eurosistema predložijo posamezne nasprotne stranke, zavrne, omeji njegovo uporabo ali zanj uporabi dodatne odbitke.
The Eurosystem may suspend, limit or exclude access to monetary policy operations with regard to counterparties that are in default pursuant to any contractual or regulatory arrangements applied by the NCBs.
Eurosistem lahko pri nasprotnih strankah, ki ne izpolnijo svojih obveznosti po katerem koli pogodbenem dogovoru ali predpisu, ki jih uporabljajo NCB, začasno ali trajno izključi ali omeji dostop do operacij denarne politike.
All discretionary measures required to ensure prudent risk management are applied and calibrated by the Eurosystem in a proportionate and non-discriminatory manner.
Eurosistem vse diskrecijske ukrepe, ki so potrebni za zagotavljanje skrbnega upravljanja s tveganji, uporabi in odmeri na sorazmereren in nediskriminatoren način.
Any discretionary measure taken vis-à-vis an individual counterparty will be duly justified.
Vsak diskrecijski ukrep zoper posamezno nasprotno stranko mora biti ustrezno utemeljen.
Structural operations may also be conducted by means of outright transactions, i.e. purchases and sales.
Strukturne operacije se lahko izvajajo tudi z dokončnimi transakcijami, tj. nakupi in prodajami.
In addition, the Eurosystem has two other instruments available for the conduct of fine-tuning operations: foreign exchange swaps and the collection of fixed-term deposits.
Poleg tega ima Eurosistem na razpolago dva druga instrumenta za izvajanje operacij ﬁnega uravnavanja: valutne zamenjave in zbiranje vezanih depozitov.
In the following sections, specific features of the different types of open market instruments used by the Eurosystem are presented in detail.
V nadaljevanju so podrobno predstavljene značilnosti posameznih vrst instrumentov za operacije odprtega trga, ki jih uporablja Eurosistem.
Reverse transactions refer to operations where the Eurosystem buys or sells eligible assets under repurchase agreements or conducts credit operations against eligible assets as collateral.
Povratne transakcije so operacije, pri katerih Eurosistem kupuje ali prodaja primerno finančno premoženje na podlagi pogodb o začasni prodaji ali izvaja kreditne posle, zavarovane s primernim finančnim premoženjem.
The NCBs may execute reverse transactions either in the form of repurchase agreements (i.e. the ownership of the asset is transferred to the creditor, while the parties agree to reverse the transaction through a retransfer of the asset to the debtor at a future point in time) or as collateralised loans (i.e. an enforceable security interest is provided over the assets but, assuming fulfilment of the debt obligation, the ownership of the asset is retained by the debtor).
NCB lahko izvajajo povratne transakcije bodisi v obliki pogodb o začasni prodaji (tj. imetništvo nad finančnim premoženjem se prenese na upnika, istočasno pa se stranki dogovorita, da bo imetništvo nad finančnim premoženjem enkrat v prihodnosti preneseno nazaj na dolžnika) ali z zavarovanimi posojili (tj. upnik dobi izvršljivo zavarovanje nad finančnim premoženjem, vendar ob predpostavki izpolnitve dolžnikove obveznosti imetništvo nad finančnim premoženjem obdrži dolžnik).
Further provisions for reverse transactions based on repurchase agreements are specified in the contractual arrangements applied by the respective NCB (or the ECB).
Ostale določbe za povratne transakcije v obliki pogodb o začasni prodaji so določene v pogodbenih dogovorih, ki jih uporablja posamezna NCB (ali ECB).
Arrangements for reverse transactions based on collateralised loans take account of the different procedures and formalities required to enable the establishment and subsequent realisation of a relevant interest in the collateral (e.g. a pledge, an assignment or a charge) which apply in different jurisdictions.
Pri dogovorih o povratnih transakcijah v obliki zavarovanih posojil je treba upoštevati posebne postopke in formalnosti, ki so v posameznih pravnih sistemih potrebni za ustanovitev in poznejše unovčenje osnovnega zavarovanja (npr. zastava, odstop terjatve ali zavarovanje (charge)).
The difference between the purchase price and the repurchase price in a repurchase agreement corresponds to the interest due on the amount of money borrowed or lent over the maturity of the operation, i.e. the repurchase price includes the respective interest to be paid.
Razlika med prodajno ceno in ceno povratnega odkupa pri pogodbi o začasni prodaji je enaka obrestim na izposojeni ali posojeni denarni znesek za obdobje do zapadlosti operacije, tj. cena povratnega odkupa vključuje obresti, ki jih je treba plačati.
The interest rate on a reverse transaction in the form of a collateralised loan is determined by applying the specified interest rate on the credit amount over the maturity of the operation.
Obrestna mera povratne transakcije v obliki zavarovanega posojila se določi z uporabo določene obrestne mere na znesek posojila za obdobje do zapadlosti operacije.
they are executed regularly each week [13];
izvajajo se redno vsak teden [13];
they normally have a maturity of 1 week [14];
običajno imajo rok zapadlosti en teden [14];
they are executed in a decentralised manner by the NCBs;
decentralizirano jih izvajajo NCB;
they are executed through standard tenders (as specified in Section 5.1);
izvajajo se v obliki standardnih avkcij (kakor je določeno v oddelku 5.1);
all counterparties fulfilling the general eligibility criteria (as specified in Section 2.1) may submit bids for the main refinancing operations; and
vse nasprotne stranke, ki izpolnjujejo splošna merila primernosti (kakor je določeno v oddelku 2.1), lahko predložijo protiponudbe pri operacijah glavnega refinanciranja; in
marketable and non-marketable assets (as specified in Chapter 6) are eligible as underlying assets for the main refinancing operations.
tržno in netržno finančno premoženje (kakor je določeno v poglavju 6) je primerno finančno premoženje za zavarovanje terjatev pri operacijah glavnega refinanciranja.
The Eurosystem also executes regular refinancing operations, normally with a 3-month maturity, which are aimed at providing additional longer-term refinancing to the financial sector.
Eurosistem izvaja tudi redne operacije refinanciranja, običajno s trimesečno zapadlostjo, namenjene zagotavljanju dodatnega dolgoročnejšega refinanciranja finančnemu sektorju.
they are executed regularly each month [15];
izvajajo se redno vsak mesec [15];
they normally have a maturity of 3 months [16];
običajno imajo rok zapadlosti tri mesece [16];
all counterparties fulfilling the general eligibility criteria (as specified in Section 2.1) may submit bids for the longer-term refinancing operations; and
vse nasprotne stranke, ki izpolnjujejo splošna merila primernosti (kakor je določeno v oddelku 2.1), lahko predložijo protiponudbe pri operacijah dolgoročnejšega refinanciranja; in
marketable and non-marketable assets (as specified in Chapter 6) are eligible as underlying assets for the longer-term refinancing operations.
tržno in netržno finančno premoženje (kakor je določeno v poglavju 6) je primerno za finančno premoženje za zavarovanje terjatev pri operacijah dolgoročnejšega refinanciranja.
The potential need for rapid action in the case of unexpected market developments makes it desirable to retain a high degree of flexibility in the choice of procedures and operational features in the conduct of these operations.
Zaradi morebitne potrebe po hitrem ukrepanju v primeru nepričakovanih gibanj na trgu je zaželeno ohraniti visoko stopnjo fleksibilnosti pri izbiri postopkov in operativnih značilnostih teh operacij.
their maturity is not standardised;
njihova zapadlost ni standardizirana;
liquidity-providing fine-tuning reverse transactions are normally executed through quick tenders, although the possibility of using bilateral procedures is not excluded (see Chapter 5);
povratne transakcije finega uravnavanja za povečevanje likvidnosti se običajno izvajajo v obliki hitrih avkcij, čeprav možnost uporabe dvostranskih postopkov ni izključena (glej poglavje 5);
liquidity-absorbing fine-tuning reverse transactions are executed, as a rule, through bilateral procedures (as specified in Section 5.2);
povratne transakcije finega uravnavanja za umikanje likvidnosti se praviloma izvajajo v obliki dvostranskih postopkov (kakor je določeno v oddelku 5.2);
they are normally executed in a decentralised manner by the NCBs (the Governing Council of the ECB can decide that, under exceptional circumstances, bilateral fine-tuning reverse operations may be executed by the ECB);
običajno jih decentralizirano izvajajo NCB (Svet ECB lahko odloči, da lahko v izrednih okoliščinah dvostranske povratne operacije finega uravnavanja izvaja ECB);
the Eurosystem may select, according to the criteria specified in Section 2.2, a limited number of counterparties to participate in fine-tuning reverse operations; and
Eurosistem lahko v skladu z merili, določenimi v oddelku 2.2, izbere omejeno število nasprotnih strank za sodelovanje pri povratnih operacijah finega uravnavanja; in
marketable and non-marketable assets (as specified in Chapter 6) are eligible as underlying assets for fine-tuning reverse operations.
tržno in netržno finančno premoženje (kakor je določeno v poglavju 6) je primerno za finančno premoženje za zavarovanje terjatev pri povratnih operacijah finega uravnavanja.
their maturity is not standardised a priori;
zapadlost operacij ni vnaprej standardizirana;
all counterparties fulfilling the general eligibility criteria (as specified in Section 2.1) may submit bids for structural reverse operations; and
vse nasprotne stranke, ki izpolnjujejo splošna merila primernosti (kakor je določeno v oddelku 2.1), lahko predložijo protiponudbe pri povratnih strukturnih operacijah; in
marketable and non-marketable assets (as specified in Chapter 6) are eligible as underlying assets for structural reverse operations.
tržno in netržno finančno premoženje (kakor je določeno v poglavju 6) je primerno za finančno premoženje za zavarovanje terjatev pri povratnih strukturnih operacijah.
Outright open market transactions refer to operations where the Eurosystem buys or sells eligible assets outright on the market.
Dokončne transakcije odprtega trga so operacije, pri katerih Eurosistem na trgu dokončno kupuje ali prodaja primerno finančno premoženje.
Such operations are executed only for structural purposes.
Te operacije se izvajajo samo za strukturne namene.
An outright transaction implies a full transfer of ownership from the seller to the buyer with no connected reverse transfer of ownership.
Dokončna transakcija vključuje popoln prenos imetništva s prodajalca na kupca, ne da bi bil pri tem predviden poznejši prenos imetništva nazaj na prodajalca.
The transactions are executed in accordance with the market conventions for the debt instrument used in the transaction.
Te transakcije se izvajajo v skladu s tržnimi običaji, ki veljajo za dolžniški instrument, uporabljen v transakciji.
In the calculation of prices, the Eurosystem acts in accordance with the most widely accepted market convention for the debt instruments used in the transaction.
Pri izračunu cen Eurosistem deluje v skladu s tržnimi običaji, ki se najbolj pogosto uporabljajo za dolžniške instrumente, uporabljene v transakciji.
they are executed through bilateral procedures (as specified in Section 5.2);
izvajajo se v obliki dvostranskih postopkov (kakor je določeno v oddelku 5.2);
they are normally executed in a decentralised manner by the NCBs (the Governing Council of the ECB can decide that, under exceptional circumstances, outright transactions may be executed by the ECB);
običajno jih decentralizirano izvajajo NCB (Svet ECB lahko odloči, da lahko v izrednih okoliščinah dokončne transakcije izvaja ECB);
no restrictions are placed a priori on the range of counterparties to outright transactions; and
pri dokončnih transakcijah ni vnaprejšnjih omejitev glede kroga nasprotnih strank; in
only marketable assets (as specified in Chapter 6) are used as underlying assets in outright transactions.
pri dokončnih transakcijah se kot finančno premoženje za zavarovanje terjatev uporablja samo tržno finančno premoženje (kakor je določeno v poglavju 6).
ECB debt certificates constitute a debt obligation of the ECB vis-à-vis the holder of the certificate.
Dolžniški certifikati ECB predstavljajo dolg ECB do imetnika certifikata.
Further provisions related to ECB debt certificates will be contained in the terms and conditions for such certificates.
Ostale določbe v zvezi z dolžniškimi certifikati ECB bodo vsebovali pogoji za takšne certifikate.
ECB debt certificates are issued at a discount, i.e. they are issued at below the nominal amount and are redeemed at maturity at the nominal amount.
Dolžniški certiﬁkati ECB se izdajo z diskontom, tj. izdajo se v znesku, ki je manjši od nominalnega zneska, ob zapadlosti pa se izplačajo v nominalnem znesku.
The difference between the discounted issue amount and the redemption amount equals the interest accrued on the discounted issue amount, at the agreed interest rate, over the maturity of the certificate.
Razlika med diskontiranim zneskom ob izdaji in odkupnim zneskom je enaka obračunanim obrestim na diskontirani znesek ob izdaji po dogovorjeni obrestni meri za obdobje do zapadlosti certiﬁkata.
The calculation of the discounted issue amount is shown in Box 1.
Izračun diskontiranega zneska ob izdaji je prikazan v okvirju 1.
The discounted issue amount is:
Diskontirani znesek ob izdaji je:
discounted issue amount of the ECB debt certificate
diskontirani znesek ob izdaji dolžniškega certifikata ECB
the certificates are issued in order to absorb liquidity from the market;
certifikati se izdajo za umik likvidnosti s trga;
the certificates have a maturity of less than 12 months;
certifikati imajo zapadlost, krajšo od 12 mesecev;