natgillin/translations-raw huggingface dataset:
the certificates are issued through standard tenders (as specified in Section 5.1);
certifikati se izdajo na podlagi standardnih avkcij (kakor je določeno v oddelku 5.1);
the certificates are tendered and settled in a decentralised manner by the NCBs; and
avkcije in poravnave certifikatov decentralizirano opravljajo NCB; in
all counterparties fulfilling the general eligibility criteria (as specified in Section 2.1) may submit bids for the subscription of ECB debt certificates.
vse nasprotne stranke, ki izpolnjujejo splošna merila primernosti (kakor je določeno v oddelku 2.1), lahko predložijo protiponudbe za vpis dolžniških certifikatov ECB.
Foreign exchange swaps executed for monetary policy purposes refer to operations where the Eurosystem buys (or sells) euro spot against a foreign currency and, at the same time, sells (or buys) it back in a forward transaction on a specified repurchase date.
Valutne zamenjave, ki se izvajajo za namene denarne politike, so operacije, pri katerih Eurosistem promptno kupuje (ali prodaja) euro za tujo valuto in istočasno terminsko prodaja (ali kupuje) euro za tujo valuto na določen datum povratnega odkupa.
Further provisions for foreign exchange swaps are specified in the contractual arrangement applied by the respective NCB (or the ECB).
Ostale določbe za valutne zamenjave so določene v pogodbenih dogovorih, ki jih uporablja posamezna NCB (ali ECB).
In each foreign exchange swap operation, the Eurosystem and the counterparties agree on the swap points for the transaction.
V vsaki operaciji valutne zamenjave se Eurosistem in nasprotne stranke dogovorijo o swap točkah za transakcijo.
The swap points of the euro vis-à-vis the foreign currency are quoted according to general market conventions.
Swap točke za euro do tuje valute je treba kotirati v skladu s splošnimi tržnimi običaji.
they are normally executed in a decentralised manner by the NCBs (the Governing Council of the ECB can decide that, under exceptional circumstances, bilateral foreign exchange swaps may be executed by the ECB); and
običajno jih decentralizirano izvajajo NCB (Svet ECB lahko odloči, da lahko v izrednih okoliščinah valutne zamenjave v obliki dvostranskih postopkov izvaja ECB); in
the Eurosystem may select, according to the criteria specified in Section 2.2 and Appendix 3, a limited number of counterparties to participate in foreign exchange swaps.
Eurosistem lahko v skladu z merili, določenimi v oddelku 2.2 in dodatku 3, izbere omejeno število nasprotnih strank za sodelovanje pri valutnih zamenjavah.
FM forward exchange rate between the euro and a foreign currency ABC on the repurchase date of the swap (M)
FM terminski devizni tečaj med eurom in tujo valuto ABC na datum povratnega odkupa pri valutni zamenjavi (M)
ΔΜ forward points between the euro and ABC at the repurchase date of the swap (M)
ΔΜ swap točke med eurom in tujo valuto ABC na datum povratnega odkupa pri valutni zamenjavi (M)
N(.) spot amount of currency; N(.)M is the forward amount of currency:
N(.) promptni znesek valute; N(.)M je terminski znesek valute:
N (ABC) = N (EUR) × S or NEUR
N (ABC) = N (EUR) × S ali NEUR
N (ABC) M = N (EUR)M × FM or NEUR
N (ABC) M = N (EUR)M × FM ali NEUR
The Eurosystem may invite counterparties to place remunerated fixed-term deposits with the NCB in the Member State in which the counterparty is established.
Eurosistem lahko povabi nasprotne stranke, da vežejo obrestovane vezane depozite pri NCB v državi članici, v kateri so ustanovljene.
The collection of fixed-term deposits is envisaged only for fine-tuning purposes in order to absorb liquidity in the market.
Zbiranje vezanih depozitov je predvideno samo za fino uravnavanje z namenom umikanja likvidnosti na trgu.
The deposits accepted from counterparties are for a fixed term and with a fixed rate of interest.
Depoziti nasprotnih strank so vezani za določen rok in s fiksno obrestno mero.
No collateral is given by the NCBs in exchange for the deposits.
NCB ne dajejo zavarovanja v zameno za depozite.
The interest rate applied to the deposit is a simple interest rate based on the day-count convention ‘actual/360’.
Obrestna mera, ki velja za depozite, je linearna obrestna mera, pri čemer se za štetje dni uporablja konvencija „dejansko število dni/360 dni v letu“.
Interest is paid at maturity of the deposit.
Obresti se izplačajo ob zapadlosti depozita.
The operational features of the collection of fixed-term deposits can be summarised as follows:
Operativne značilnosti zbiranja vezanih depozitov so naslednje:
the deposits are collected in order to absorb liquidity;
depoziti se zbirajo z namenom umikanja likvidnosti;
the frequency with which deposits are collected is not standardised;
pogostost zbiranja depozitov ni standardizirana;
the maturity of the deposits is not standardised;
zapadlost depozitov ni standardizirana;
the collection of deposits is normally executed through quick tenders, although the possibility of using bilateral procedures is not excluded (see Chapter 5);
zbiranje depozitov se običajno izvaja na podlagi hitrih avkcij, čeprav možnost uporabe dvostranskih postopkov ni izključena (glej poglavje 5);
the collection of deposits is normally executed in a decentralised manner by the NCBs (the Governing Council of the ECB can decide that, under exceptional circumstances, the bilateral collection of fixed-term deposits [17] may be executed by the ECB); and
zbiranje depozitov običajno decentralizirano izvajajo NCB (Svet ECB lahko odloči, da lahko v izrednih okoliščinah zbiranje vezanih depozitov v obliki dvostranskih postopkov [17] izvaja ECB); in
the Eurosystem may select, according to the criteria specified in Section 2.2, a limited number of counterparties for the collection of fixed-term deposits.
Eurosistem lahko v skladu z merili, določenimi v oddelku 2.2, izbere omejeno število nasprotnih strank za zbiranje vezanih depozitov.
Counterparties may use the marginal lending facility to obtain overnight liquidity from NCBs at a pre-specified interest rate against eligible assets (as set out in Chapter 6).
Nasprotne stranke lahko uporabijo mejno posojilo, da pridobijo likvidnost čez noč od NCB po vnaprej določeni obrestni meri na podlagi primernega finančnega premoženja za zavarovanje terjatev (kakor je določeno v poglavju 6).
The terms and conditions of the facility are identical throughout the euro area.
Pogoji za to odprto ponudbo so enaki v celotnem euroobmočju.
The NCBs may provide liquidity under the marginal lending facility either in the form of overnight 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 on the next business day) or as overnight collateralised loans (i.e. an enforceable security interest is provided over the assets but, assuming fulfilment of the debt obligation, ownership of the asset is retained by the debtor).
NCB lahko zagotavljajo likvidnost v okviru mejnega posojila bodisi v obliki pogodb o začasni prodaji čez noč (tj. imetništvo nad finančnim premoženjem se prenese na upnika, istočasno pa stranki skleneta povratno transakcijo prenosa finančnega premoženja nazaj na dolžnika z naslednjim delovnim dnem) ali z zavarovanimi posojili čez noč (tj. upnik dobi izvršljivo zavarovanje nad finančnim premoženjem, vendar ob predpostavki, da bo dolžnik izpolnil svojo obveznost, imetništvo nad finančnim premoženjem obdrži dolžnik).
Further provisions for repurchase agreements are specified in the contractual arrangements applied by the respective NCB.
Ostale določbe za pogodbe o začasni prodaji so določene v pogodbenih dogovorih, ki jih uporablja posamezna NCB.
Arrangements for providing the liquidity in the form of 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 (a pledge, an assignment or a charge) which apply in different jurisdictions.
Pri dogovorih o zagotavljanju likvidnosti 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. zastave, odstopa terjatve ali zavarovanja (charge)).
Institutions fulfilling the general counterparty eligibility criteria specified in Section 2.1 may access the marginal lending facility.
Do mejnega posojila imajo dostop institucije, ki izpolnjujejo splošna merila primernosti za nasprotne stranke, določena v oddelku 2.1.
Access to the marginal lending facility is granted through the NCB in the Member State in which the institution is established.
Dostop do odprte ponudbe mejnega posojila je mogoč prek NCB v državi članici, v kateri je institucija ustanovljena.
Access to the marginal lending facility is granted only on days when TARGET2 [18] is operational [19].
Dostop do mejnega posojila je mogoč samo ob dnevih, ko je sistem TARGET2 [18] odprt za poslovanje [19].
On days when the SSSs are not operational, access to the marginal lending facilities is granted on the basis of underlying assets which have already been pre-deposited with the NCBs.
Ob dnevih, ko določen SPVP ni odprt za poslovanje, je dostop do mejnega posojila dovoljen na podlagi primernega finančnega premoženja za zavarovanje terjatev, ki je bilo že vnaprej deponirano pri NCB.
At the end of each business day, counterparties’ debit positions on their settlement account with the NCBs are automatically considered to be a request for recourse to the marginal lending facility.
Dolžniška pozicija nasprotne stranke na poravnalnem računu pri NCB ob koncu vsakega delovnega dneva se avtomatično šteje kot zahtevek za dostop do mejnega posojila.
The procedures for end-of-day access to the marginal lending facility are specified in Section 5.3.3.
Postopki dostopa do mejnega posojila ob koncu dneva so določeni v oddelku 5.3.3.
A counterparty may also be granted access to the marginal lending facility by sending a request to the NCB in the Member State in which the counterparty is established.
Nasprotna stranka lahko črpa mejno posojilo tudi tako, da pošlje zahtevek NCB države članice, v kateri je ustanovljena.
For the NCB to process the request on the same day in TARGET2, the request must be received by the NCB at the latest 15 minutes following the TARGET2 closing time [20], [21].
Da bi NCB lahko obravnavala zahtevek v sistemu TARGET2 še isti dan, mora zahtevek prejeti najkasneje 15 minut po času zaprtja sistema TARGET2 [20], [21].
The deadline for requesting access to the marginal lending facility is postponed by an additional 15 minutes on the last Eurosystem business day of a reserve maintenance period.
Rok za zahtevek za črpanje mejnega posojila se na zadnji delovni dan Eurosistema v obdobju izpolnjevanja obveznih rezerv podaljša za dodatnih 15 minut.
The request must specify the amount of credit and, if underlying assets for the transaction have not already been pre-deposited with the NCB, the underlying assets to be delivered for the transaction.
V zahtevku je treba navesti znesek posojila, če pa finančno premoženje za zavarovanje terjatev za transakcijo ni bilo vnaprej deponirano pri NCB, je treba tudi zagotoviti finančno premoženje za zavarovanje terjatev za transakcijo.
Apart from the requirement to present sufficient underlying eligible assets, there is no limit to the amount of funds that can be advanced under the marginal lending facility.
Razen zahteve po predložitvi zadostnega primernega finančnega premoženja za zavarovanje terjatve ni omejitve glede denarnega zneska, ki se lahko odobri v okviru mejnega posojila.
The maturity of credit extended under the facility is overnight.
Zapadlost posojila, odobrenega na podlagi odprte ponudbe mejnega posojila, je čez noč.
For counterparties participating directly in TARGET2, the credit is repaid on the next day on which (i) TARGET2; and (ii) the relevant SSSs are operational, at the time at which those systems open.
Za nasprotne stranke, ki so neposredno udeležene v sistemu TARGET2, se posojilo odplača naslednji dan, ko so (i) sistem TARGET2; in (ii) zadevni SPVP operativni, in sicer v trenutku, ko se ti sistemi odprejo za poslovanje.
The interest rate is announced in advance by the Eurosystem and is calculated as a simple interest rate based on the day-count convention ‘actual/360’.
Obrestno mero objavi Eurosistem vnaprej, izračuna pa se kot linearna obrestna mera, pri čemer se za štetje dni uporablja konvencija „dejansko število dni/360 dni v letu“.
The ECB may change the interest rate at any time, effective, at the earliest, from the following Eurosystem business day [22], [23].
ECB lahko kadar koli spremeni obrestno mero z veljavnostjo ne prej kot naslednji delovni dan Eurosistema [22], [23].
Access to the facility is granted only in accordance with the objectives and general monetary policy considerations of the ECB.
Dostop do mejnega depozita se odobri samo v skladu s cilji in splošnimi usmeritvami denarne politike ECB.
Counterparties can use the deposit facility to make overnight deposits with NCBs.
Nasprotne stranke lahko uporabijo mejni depozit za vezavo depozita čez noč pri NCB.
Under normal circumstances, the interest rate on the facility provides a floor for the overnight market interest rate.
V normalnih okoliščinah obrestna mera za mejni depozit predstavlja spodnjo mejo obrestne mere na trgu čez noč.
The terms and conditions of the deposit facility are identical throughout the euro area [24].
Pogoji za mejni depozit so enaki v celotnem euroobmočju [24].
Access conditions [25]
Pogoji dostopa [25]
Institutions fulfilling the general counterparty eligibility criteria specified in Section 2.1 may access the deposit facility.
Do mejnega depozita imajo dostop institucije, ki izpolnjujejo splošna merila primernosti za nasprotne stranke, določena v oddelku 2.1.
Access to the deposit facility is granted through the NCB in the Member State in which the institution is established.
Dostop do mejnega depozita je mogoč prek NCB v državi članici, v kateri je institucija ustanovljena.
Access to the deposit facility is granted only on days when TARGET2 is open [26].
Dostop do mejnega depozita je mogoč samo na dneve, ko je odprt sistem TARGET2 [26].
To be granted access to the deposit facility, the counterparty must send a request to the NCB in the Member State in which the counterparty is established.
Da se nasprotni stranki odobri vezava mejnega depozita, mora poslati zahtevek NCB države članice, v kateri je ustanovljena.
For the NCB to process the request on the same day in TARGET2, the request must be received by the NCB at the latest 15 minutes following the TARGET2 closing time, which is, as a general rule, 6 p.m. ECB time (CET) [27], [28].
Da bi NCB lahko obravnavala zahtevek v sistemu TARGET2 še isti dan, mora zahtevek prejeti najkasneje 15 minut po času zaprtja sistema TARGET2, ki je praviloma ob 18.00 po času ECB (srednjeevropski čas) [27], [28].
The deadline for requesting access to the deposit facility is postponed by an additional 15 minutes on the last Eurosystem business day of a reserve maintenance period.
Rok za zahtevek za vezavo mejnega depozita se na zadnji delovni dan Eurosistema v obdobju izpolnjevanja obveznih rezerv podaljša za dodatnih 15 minut.
The request must specify the amount to be deposited under the facility.
V zahtevku je treba navesti znesek depozita za polog v okviru odprte ponudbe.
The maturity of deposits under the facility is overnight.
Zapadlost depozita v okviru odprte ponudbe mejnega depozita je čez noč.
For counterparties participating directly in TARGET2, deposits held under the facility mature on the next day on which TARGET2 is operational, at the time at which this system opens.
Za nasprotne stranke, ki so neposredno udeležene v sistemu TARGET2, zapadejo depoziti v okviru odprte ponudbe naslednji dan, ko je sistem TARGET2 operativen, in sicer v trenutku, ko se ta sistem odpre za poslovanje.
The ECB may change the interest rate at any time, effective, at the earliest, from the following Eurosystem business day [29].
ECB lahko kadar koli spremeni obrestno mero z veljavnostjo ne prej kot naslednji delovni dan Eurosistema [29].
Interest on the deposits is payable on maturity of the deposit.
Obresti na depozite se plačajo ob zapadlosti depozita.
For standard tenders, a maximum of 24 hours elapses from the announcement of the tender to the certification of the allotment result (where the time between the submission deadline and the announcement of the allotment result is approximately 2 hours).
Pri standardnih avkcijah lahko poteče največ 24 ur od najave avkcije do pošiljanja obvestil uspešnim ponudnikom (pri čemer je čas med rokom za predložitev protiponudb in objavo dodelitve približno dve uri).
The ECB may decide to adjust the time frame in individual operations, if deemed appropriate.
ECB se lahko odloči, da pri posameznih operacijah prilagodi časovni okvir, če meni, da je to primerno.
Counterparties fulfilling the general eligibility criteria specified in Section 2.1 may participate in standard tenders.
Na standardnih avkcijah lahko sodelujejo nasprotne stranke, ki izpolnjujejo splošna merila primernosti iz oddelka 2.1.
The normal time frame for the operational steps for quick tenders is specified in Chart 2.
Običajni časovni okvir za izvajanje operativnih korakov v hitrih avkcijah je prikazan na sliki 2.
The Eurosystem may select, according to the criteria and procedures specified in Section 2.2, a limited number of counterparties to participate in quick tenders.
Eurosistem lahko v skladu z merili in postopki iz oddelka 2.2 izbere omejeno število nasprotnih strank za sodelovanje pri hitrih avkcijah.
In a fixed rate tender, the ECB specifies the interest rate in advance and participating counterparties bid the amount of money they want to transact at the fixed interest rate [30].
Pri avkciji s fiksno mero ECB vnaprej določi obrestno mero, sodelujoče nasprotne stranke pa v protiponudbah navedejo denarni znesek posla, ki ga želijo skleniti po fiksni obrestni meri [30].
In a variable rate tender, counterparties bid the amounts of money and the interest rates at which they want to enter into transactions with the NCBs [31].
Pri avkciji z variabilno mero nasprotne stranke v protiponudbah navedejo denarne zneske in obrestne mere, po katerih želijo skleniti posle z NCB [31].
Announcement by the ECB through public wire services and the ECB’s website
ECB jo najavi prek javnih elektronskih medijev in spletne strani ECB
Announcement by the NCBs through national wire services and directly to individual counterparties (if deemed necessary)
NCB jo najavijo prek nacionalnih elektronskih medijev in neposredno posameznim nasprotnim strankam (po potrebi)
Step 2 Counterparties’ preparation and submission of bids
Korak 2 Priprava in predložitev protiponudb s strani nasprotnih strank
Step 6 Settlement of the transactions (see Section 5.3)
Korak 6 Poravnava transakcij (glej oddelek 5.3)
The main and the longer-term refinancing operations are executed according to an indicative calendar published by the Eurosystem [32].
Operacije glavnega in dolgoročnejšega refinanciranja se izvajajo v skladu z okvirnim koledarjem, ki ga objavi Eurosistem [32].
The calendar is published at least 3 months before the start of the year for which it is valid.
Koledar se objavi najmanj tri mesece pred začetkom leta, za katerega velja.
The ECB aims to ensure that counterparties in all Member States can participate in the main and the longer-term refinancing operations.
ECB si prizadeva zagotoviti, da v operacijah glavnega in dolgoročnejšega refinanciranja lahko sodelujejo nasprotne stranke v vseh državah članicah.
Therefore, when compiling the calendar for these operations, the ECB makes appropriate adjustments to the normal schedule to take into account bank holidays in the individual Member States.
ECB zato pri pripravi koledarja za te operacije upošteva praznike v posameznih državah članicah in ustrezno prilagodi običajni razpored.
Structural operations through standard tenders are not executed according to any pre-specified calendar.
Strukturne operacije, ki se izvajajo v obliki standardnih avkcij, se ne izvajajo po vnaprej določenem koledarju.
Only NCBs of Member States in which the trade day, the settlement day and the reimbursement day are NCB business days participate in such operations.
V teh operacijah sodelujejo samo NCB držav članic, v katerih so trgovalni dan, dan poravnave in dan izplačila delovni dnevi NCB.
Chart 1
Slika 1
Normal time frame for the operational steps in standard tenders
Običajni časovni okvir za izvajanje operativnih korakov v standardnih avkcijah
Note: The figures refer to the operational steps as defined in Box 3.
Opomba: številke se nanašajo na operativne korake, kakor so opredeljeni v okvirju 3.
Chart 2
Slika 2
The last Wednesday of each calendar month [34]
zadnja sreda vsakega koledarskega meseca [34]
Eurosystem standard tenders are publicly announced by means of wire services and the ECB’s website.
Standardne avkcije Eurosistema se javno najavijo prek elektronskih medijev in spletne strani ECB.
the maturity of the operation;
zapadlost operacije;
the method of allotment (‘Dutch’ or ‘American’ auction, as defined in Section 5.1.5);
metoda dodelitve (avkcija nizozemskega tipa ali avkcija ameriškega tipa, kakor je opredeljeno v oddelku 5.1.5);
the intended operation volume (normally only in the case of longer-term refinancing operations);
predvideni obseg operacije (običajno samo pri operacijah dolgoročnejšega refinanciranja);
the fixed tender interest rate/price/swap point (in the case of fixed rate tenders);
fiksna obrestna mera/cena/swap točke (pri avkcijah s fiksno mero);
the minimum/maximum accepted interest rate/price/swap point (if applicable);
najnižja/najvišja izklicna obrestna mera/cena/swap točke (če je predvideno);
the start date and the maturity date of the operation (if applicable), or the value date and the maturity date of the instrument (in the case of the issuance of ECB debt certificates);
datum začetka in datum zapadlosti operacije (če je predvideno) ali datum valutacije in datum zapadlosti instrumenta (pri izdaji dolžniških certifikatov ECB);
the maximum bid limit (if any);
zgornja meja protiponudbe (če je predvideno);
the minimum individual allotment amount (if any);
najnižji posamezni znesek dodelitve (če je predvideno);
the minimum allotment ratio (if any);
najnižja stopnja dodelitve (če je predvideno);
the denomination of the certificates (in the case of the issuance of ECB debt certificates); and
nominalna vrednost certifikatov (pri izdaji dolžniških certifikatov ECB); in
the ISIN code of the issue (in the case of the issuance of ECB debt certificates).
koda ISIN izdaje (pri izdaji dolžniških certifikatov ECB).
However, under exceptional circumstances, the ECB may decide not to announce quick tenders publicly in advance.
V izrednih okoliščinah se ECB lahko odloči, da hitrih avkcij ne bo javno najavila vnaprej.
In a quick tender which is not announced publicly in advance, the selected counterparties are contacted directly by the NCBs.
Pri hitri avkciji, ki ni javno najavljena vnaprej, NCB neposredno stopijo v stik z izbranimi nasprotnimi strankami.
In a quick tender which is announced publicly, the NCB may contact the selected counterparties directly.
Pri hitri avkciji, ki je javno najavljena, pa imajo NCB možnost, da neposredno stopijo v stik z izbranimi nasprotnimi strankami.
Counterparties’ bids must be in a form that follows the pro forma example provided by the NCBs for the relevant operation.
Protiponudbe nasprotnih strank morajo biti pripravljene v skladu z vzorcem, ki ga za zadevno operacijo določijo NCB.
The bids must be submitted to the NCB of a Member State in which the institution has an establishment (head office or branch).
Protiponudbe je treba predložiti NCB države članice, v kateri ima institucija poslovno enoto (sedež ali podružnico).
The bids of an institution may only be submitted by one establishment (either the head office or a designated branch) in each Member State.
Protiponudbe ene institucije lahko predloži samo ena poslovna enota (bodisi sedež ali izbrana podružnica) v vsaki državi članici.