natgillin/translations-raw huggingface dataset:
the market value of such assets at the default valuation time calculated on the basis of the most representative price on the business day preceding the valuation date;
tržno vrednost tega finančnega premoženja v času vrednotenja neizpolnitve obveznosti, izračunano na osnovi najbolj reprezentativne cene na delovni dan pred datumom vrednotenja;
in the absence of a representative price for a particular asset on the business day preceding the valuation date, the last trading price is used.
če reprezentativne cene za določeno finančno premoženje na delovni dan pred datumom vrednotenja ni, se uporabi cena, po kateri je bil sklenjen zadnji posel s takim premoženjem.
If no trading price is available, the NCB will define a price, taking into account the last price identified for the asset in the reference market;
Če ta cena ni na voljo, NCB določi ceno z upoštevanjem zadnje cene za finančno premoženje na referenčnem trgu;
in the case of assets for which no market value exists, any other reasonable method of valuation;
v primeru finančnega premoženja, za katero tržna vrednost ne obstaja, se uporabi katera koli druga razumna metoda vrednotenja;
if the NCB has sold before the default valuation time the assets or equivalent assets at the market price, the net proceeds of sale, after deducting all reasonable costs, fees and expenses incurred in connection with such sale, such calculation being made and amounts determined by the NCB.
če je NCB prodala finančno premoženje ali enakovredno finančno premoženje po tržni ceni pred časom vrednotenja po tržni vrednosti ob neizpolnitvi obveznosti, se uporabi neto izkupiček prodaje po odbitku vseh razumnih stroškov, pristojbin in izdatkov, nastalih v zvezi s tako prodajo, pri čemer NCB opravi izračun in določi zneske s tem v zvezi.
If the relevant contractual or regulatory arrangements applied by the NCB include any provision for the substitution of collateral, the arrangements should ensure that compliance with the requisite risk control measures is maintained.
Če pogodbeni dogovori ali predpisi, ki jih uporablja NCB, vsebujejo določbo o zamenjavi finančnega premoženja, morajo zagotoviti, da se ohrani skladnost z zahtevanimi ukrepi za obvladovanje tveganj.
If the relevant contractual or regulatory arrangements applied by the NCB include any provision for margins to be paid (or returned) in cash, provision should be made that any further obligation to return (or provide) margins should first be satisfied by the use of cash up to the same amount (together with any interest attributed to it).
Če pogodbeni dogovori ali predpisi, ki jih uporablja NCB, vsebujejo določbo o kritju, ki ga je treba plačati (ali vrniti) v obliki denarja, je potrebna določba, da mora biti vsaka nadaljnja obveznost za vračilo (ali zagotovitev) kritja najprej poravnana z uporabo denarja do istega zneska (vključno z vsemi pripadajočimi obrestmi).
Features exclusive to collateralised loan arrangements
Posebne značilnosti zavarovanih posojil
The assets provided under a collateralised loan arrangement (e.g. a pledge) must be legally realisable without there being prior claims over the assets concerned.
Finančno premoženje, dostavljeno pri zavarovanem posojilu (npr. z zastavo), mora biti pravno unovčljivo, ne da bi na tem finančnem premoženju obstajale predhodne terjatve.
It should not be possible for third parties (including the liquidating authority in the case of insolvency) to intervene and successfully claim the assets pledged (in the absence of fraud), or any rights attached to them.
Tretjim osebam (vključno z likvidacijskim organom v primeru nesolventnosti) ne sme biti omogočeno, da posegajo po zastavljenem finančnem premoženju in uspešno uveljavijo svoje terjatve v zvezi z njim (razen v primeru prevare) ali kakršnimi koli z njim povezanimi pravicami.
The NCB should be in a legal position to realise the economic value of assets pledged in the context of a liquidity-providing operation in pre-specified circumstances not materially different from those set out in paragraph 6 and these should also reflect the circumstances in which the NCB can treat the Counterparty as being in default under repurchase arrangements.
Nacionalni centralni banki mora biti pravno omogočeno, da lahko unovči ekonomsko vrednost finančnega premoženja, zastavljenega v kontekstu operacije za povečevanje likvidnosti v vnaprej določenih okoliščinah, ki niso bistveno drugačne od tistih, navedenih v točki 6, in te morajo odražati tudi okoliščine, v katerih lahko NCB obravnava nasprotno stranko kot stranko, ki ni izpolnila obveznosti po transakcijah začasne prodaje.
Collateralised loan arrangements should allow for the possibility of operations which are entered into on an intraday basis to be extended to overnight operations.
Dogovori oziroma predpisi o zavarovanih posojilih morajo omogočati, da se operacije, ki so se začele kot operacije znotraj dneva, podaljšajo v operacije prek noči.
Additional minimum common features for foreign exchange swap arrangements
Dodatne minimalne skupne značilnosti valutnih zamenjav
Each transaction should be constituted as a simultaneous spot and forward sale and purchase of euro against one foreign currency.
Vsaka transakcija mora biti zasnovana kot hkratna promptna in terminska prodaja in nakup eura proti tuji valuti.
The relevant contractual or regulatory arrangements applied by the NCB should include a provision as to the timing and mechanics of the transfer of payments.
Pogodbeni dogovori ali predpisi, ki jih uporablja NCB, morajo vključevati določbo glede časovne razporeditve in mehanizmov za prenos plačil.
The date of the forward sale/purchase should be fixed at the time of entering into each transaction.
Datum terminske prodaje/nakupa je treba določiti ob začetku transakcije.
The relevant contractual or regulatory arrangements applied by the NCB should define the foreign currency, spot rate, forward rate, transfer date and retransfer date in accordance with the following:
Pogodbeni dogovori ali predpisi, ki jih uporablja NCB, morajo opredeliti tujo valuto, promptni tečaj, terminski tečaj, datum prvega dela valutne zamenjave in datum drugega dela valutne zamenjave v skladu z naslednjim:
‘Foreign currency’ shall be any lawful currency other than the euro.
„tuja valuta“ je vsaka zakonita valuta razen eura,
‘Spot rate’ means, in relation to a specific transaction, the rate (as calculated in accordance with paragraph 16) applied to convert the euro amount into such amount in the foreign currency relevant for that transaction as one party shall be obliged to transfer to the other at the transfer date against payment of the euro amount and which rate shall be set out in the confirmation.
„promptni tečaj“ pomeni v zvezi z določeno transakcijo tečaj (kot se izračuna v skladu s točko 16), ki se uporabi za preračun zneska v eurih v znesek v ustrezni tuji valuti za to transakcijo, ki ga bo morala ena stranka na datum prvega dela valutne zamenjave prenesti drugi proti plačilu zneska v eurih, in ta tečaj se določi v potrditvi posla;
‘Forward rate’ means the rate calculated in accordance with paragraph 16 and applied to convert the euro amount into such amount in the foreign currency as one party shall be obliged to transfer to the other at the retransfer date against payment of the euro amount, which rate shall be as set out in the confirmation and defined in the relevant contractual or regulatory arrangements applied by the NCB.
„terminski tečaj“ pomeni tečaj, izračunan v skladu s točko 16, ki se uporabi za preračun zneska v eurih v tak znesek v tuji valuti, ki ga bo morala ena stranka prenesti drugi na datum drugega dela valutne zamenjave proti plačilu zneska v eurih, in ta tečaj se določi v potrditvi posla in opredeli v pogodbenih dogovorih ali predpisih, ki jih uporablja NCB;
‘Retransfer foreign currency amount’ means such amount of foreign currency as is required to purchase the euro amount as at the retransfer date.
„znesek drugega dela valutne zamenjave v tuji valuti“ pomeni tak znesek v tuji valuti, kot je potreben za nakup zneska v eurih na datum drugega dela valutne zamenjave;
‘Transfer date’ means with regard to any transaction, the date (and, where appropriate, the time on that date) when the transfer of the euro amount by one party to the other is to become effective which for the avoidance of doubt shall be the date (and, where appropriate, the time on that date) when the parties have agreed that settlement of a transfer of the euro amount shall occur.
„datum prvega dela valutne zamenjave“ pomeni v zvezi s katero koli transakcijo datum (in, kjer je ustrezno, čas na ta datum), ko je treba izvesti prenos zneska v eurih od ene stranke k drugi, in ki je, da bi se izognili dvomu, datum (in, kjer je primerno, čas na ta datum), za katerega sta se stranki dogovorili, da bo potekala poravnava prenosa zneska v eurih;
‘Retransfer Date’ means, with regard to any transaction, the date (and, where appropriate, the time on that date) when one party is to retransfer the euro amount to the other.
„datum drugega dela valutne zamenjave“ pomeni v zvezi s katero koli transakcijo datum (in, kjer je ustrezno, čas na ta datum), ko mora ena stranka prenesti znesek v eurih nazaj drugi stranki.
The relevant contractual or regulatory arrangements applied by the NCB should provide that certain events (as to which, see paragraph 30 below) should lead to a closing-out of all outstanding transactions and must provide for the way in which such a closing-out (including termination netting) would take place.
Pogodbeni dogovori ali predpisi, ki jih uporablja NCB, morajo določati, da morajo nekateri dogodki (točka 30 določa, kateri) voditi v predčasno prenehanje vseh še nezapadlih transakcij, določiti pa morajo tudi način, kako se to prenehanje izvede (vključno s pobotanjem zaradi predčasnega prenehanja v tem primeru).
The relevant contractual or regulatory arrangements applied by the NCB should contain provisions in relation to netting which are aimed at achieving economic effects equivalent to those as set out below.
Pogodbeni dogovori ali predpisi, ki jih uporablja NCB, morajo vsebovati določbe glede pobota, namenjene doseganju ekonomskih učinkov, enakovrednih spodaj navedenim
If an event of default has occurred, each transaction shall be deemed to have terminated and the replacement values of the euro and the retransfer foreign currency amounts shall be established by the NCB on the basis that such replacement values shall be the amounts that would be necessary to preserve for the NCB the economic equivalent of any payments that would otherwise have been required; and
če pride do primera kršitve, velja vsaka transakcija za zaključeno in NCB določi nadomestne vrednosti zneskov v eurih in zneskov drugega dela valutne zamenjave v tuji valuti, tako da so te nadomestne vrednosti za NCB ekonomsko enakovredne zneskom, ki bi si jih stranki izmenjali sicer; in
On the basis of the sums so established, the NCB must calculate what is due from each party to the other at the retransfer date.
na podlagi tako določenih zneskov mora NCB izračunati, koliko je vsaka stranka dolžna drugi na datum drugega dela valutne zamenjave.
The sums due from one party must be converted into euro where necessary in accordance with paragraph 16 and set off against the sums due to the other.
Zneske, ki jih dolguje ena stranka, je treba po potrebi pretvoriti v eure v skladu s točko 16 in pobotati z zneski, ki jih terja od druge stranke.
Only the net balance is payable by the party having the claim thereby valued at the lower amount.
Samo stranka, ki ima terjatev, vrednoteno v nižji vrednosti kot obveznost, plača neto znesek.
Such net balance is due and payable on the next day on which TARGET2 is operational to effect such a payment.
Ta neto znesek zapade in je plačljiv naslednji dan, ko je sistem TARGET2 odprt za izvedbo tega plačila.
REPEALED GUIDELINE WITH LIST OF ITS SUCCESSIVE AMENDMENTS
RAZVELJAVLJENA SMERNICA IN NJENE SPREMEMBE
Guideline ECB/2000/7 (OJ L 310, 11.12.2000, p. 1).
Smernica ECB/2000/7 (UL L 310, 11.12.2000, str. 1).
Guideline ECB/2002/2 (OJ L 185, 15.7.2002, p. 1).
Smernica ECB/2002/2 (UL L 185, 15.7.2002, str. 1).
Guideline ECB/2003/16 (OJ L 69, 8.3.2004, p. 1).
Smernica ECB/2003/16 (UL L 69, 8.3.2004, str. 1).
Guideline ECB/2005/2 (OJ L 111, 2.5.2005, p. 1).
Smernica ECB/2005/2 (UL L 111, 2.5.2005, str. 1).
Guideline ECB/2005/17 (OJ L 30, 2.2.2006, p. 26).
Smernica ECB/2005/17 (UL L 30, 2.2.2006, str. 26).
Guideline ECB/2006/12 (OJ L 352, 13.12.2006, p. 1).
Smernica ECB/2006/12 (UL L 352, 13.12.2006, str. 1).
Guideline ECB/2007/10 (OJ L 284, 30.10.2007, p. 34).
Smernica ECB/2007/10 (UL L 284, 30.10.2007, str. 34).
Guideline ECB/2008/13 (OJ L 36, 5.2.2009, p. 31).
Smernica ECB/2008/13 (UL L 36, 5.2.2009, str. 31).
Guideline ECB/2009/1 (OJ L 36, 5.2.2009, p. 59).
Smernica ECB/2009/1 (UL L 36, 5.2.2009, str. 59).
Guideline ECB/2009/10 (OJ L 123, 19.5.2009, p. 99).
Smernica ECB/2009/10 (UL L 123, 19.5.2009, str. 99).
Guideline ECB/2010/1 (OJ L 63, 12.3.2010, p. 22).
Smernica ECB/2010/1 (UL L 63, 12.3.2010, str. 22).
Guideline ECB/2010/13 (OJ L 267, 9.10.2010, p. 21).
Smernica ECB/2010/13 (UL L 267, 9.10.2010, str. 21).
Guideline ECB/2010/30 (OJ L 336, 21.12.2010, p. 63).
Smernica ECB/2010/30 (UL L 336, 21.12.2010, str. 63).
PSE public sector entity RMBD retail mortgage-backed debt instrument RoW rest of the world RT rating tool
NCB nacionalna centralna banka
The Eurosystem’s monetary policy operations are executed under uniform terms and conditions in all Member States [4].1.2. Objectives of the Eurosystem
Operacije denarne politike Eurosistema se izvajajo pod enakimi pogoji v vseh državah članicah [4].1.2 Cilji Eurosistema
However, they are normally conducted and settled only on days which are NCB business days [33] in all Member States.5.1.2.3. Fine-tuning operations
Običajno se izvajajo in poravnavajo samo ob dnevih, ki so delovni dnevi NCB [33] v vseh državah članicah.5.1.2.3 Operacije finega uravnavanja
For the longer-term refinancing operations, each NCB defines a minimum bid amount in the range from EUR 10000 to EUR 1000000. Bids exceeding the defined minimum bid amount must be expressed as multiples of EUR 10000.
Pri operacijah dolgoročnejšega refinanciranja vsaka NCB določi najnižji znesek protiponudbe v razponu od 10000 EUR do 1000000 EUR. Protiponudbe, ki presegajo najnižji določeni znesek protiponudbe, morajo biti izražene kot mnogokratnik 10000 EUR. Najnižji znesek protiponudbe se uporablja pri vsaki posamezni licitirani višini obrestne mere.
RMBDs
Netržni hipotekarni dolžniški instrumenti
Concerning asset-backed securities issued before 1 March 2010 that have only one credit assessment, a second assessment must be obtained before 1 March 2011.
V primeru listinjenih vrednostnih papirjev, ki so bili izdani pred 1. marcem 2010 in imajo samo eno bonitetno oceno, je treba pridobiti drugo oceno pred 1. marcem 2011.
For asset-backed securities issued before 1 March 2009 both credit assessments must comply with the ‘single A’ level over the life of the security.
Za listinjene vrednostne papirje, ki so bili izdani pred 1. marcem 2009, morata obe bonitetni oceni dosegati raven „enojni A“ ves čas obstoja vrednostnega papirja.
The RT provider participating in the ECAF needs to subject itself by agreement to the Eurosystem performance monitoring process [95] (see Section 6.3.5). The RT provider is obliged to set up and maintain the necessary infrastructure for monitoring the so-called static pool.
Ponudnik bonitetnih orodij, ki sodeluje v bonitetnem okviru Eurosistema, mora s sporazumom sprejeti, da bo predmet postopka Eurosistema za spremljanje zanesljivosti sistema [95] (glej oddelek 6.3.5).
Construction and evaluation of the static pool have to be in line with the general requirements on performance monitoring under the ECAF. The RT provider has to undertake to inform the Eurosystem of the results of the performance evaluation as soon as it has been carried out by the RT provider. Therefore, RT providers prepare a report on the RT’s static pool performance.
Ponudnik bonitetnih orodij mora vzpostaviti in vzdrževati potrebno infrastrukturo za spremljanje tako imenovanega statičnega nabora.
This limit does not apply to such assets that are guaranteed by a public sector entity which has the right to levy taxes, or if the value after haircuts of the assets does not exceed EUR 50 million. In the event of a merger between two or more issuers of such assets or the establishment of a close link between such issuers, these issuers are treated as one issuer group, in the context of this limitation, only up until 1 year after the date of the merger or the establishment of the close link.
Ta omejitev se ne uporablja za finančno premoženje, če zanj jamči oseba javnega prava, ki je upravičena do odmerjanja davkov, ali če vrednost finančnega premoženja po odbitkih ne presega 50 milijonov EUR. V primeru združitve dveh ali več izdajateljev takšnega finančnega premoženja ali vzpostavitve tesne povezave med temi izdajatelji se v kontekstu te omejitve ti izdajatelji obravnavajo kot ena skupina izdajateljev samo eno leto po datumu združitve ali vzpostavitve tesne povezave;
(AAA to A-) [106]
(AAA do A-) [106]
International debt securities in individual note form issued before or on that date remain eligible until their maturity.
Mednarodni dolžniški vrednostni papirji v obliki posamičnih listin, izdani na ta datum ali pred njim, ostanejo primerni do zapadlosti.
APPENDIX 7 — Creation of a valid security over credit claims
DODATEK 7 – Ustanovitev veljavnega zavarovanja na bančnih posojilih
Abbreviations
KRATICE
ECAF Eurosystem credit assessment framework
ECB Evropska centralna banka
SSS A
SPVP A
SSS B
SPVP B
CCBM correspondent central banking model CET Central European Time
BPRČ bruto poravnava v realnem času
CIs credit institutions CRD Capital Requirements Directive
CCBM korespondenčni centralnobančni model
CSD central securities depository EC European Community
CDD centralna depotna družba
Credit claims are also referred to as bank loans. Schuldscheindarlehen and Dutch registered private claims on the government or other eligible debtors that are covered by a government guarantee (e.g. housing associations) are deemed to be equivalent to credit claims.
Schuldscheindarlehen in nizozemske vpisane zasebne terjatve do države ali drugih primernih dolžnikov, ki imajo državno jamstvo (npr. stanovanjske zadruge), se štejejo, da so enakovredne bančnim posojilom.
all i
alli
all(r s)i
all (rs)i
all(Δ s)i
all (Δs)i
The precise procedure of the CCBM depends on whether the eligible assets are earmarked for each individual transaction or whether they are held in a pool of underlying assets [112].
Natančen postopek za CCBM je odvisen od tega, ali je primerno finančno premoženje označeno za vsako posamezno transakcijo ali pa se uporablja v skladu finančnega premoženja za zavarovanje terjatev [112].
In an earmarking system, as soon as a counterparty’s bid for credit is accepted by the NCB of the Member State in which the counterparty is established (i.e. the ‘home NCB’), the counterparty instructs (via its own custodian, if necessary) the SSS in the country in which its marketable assets are held to transfer them to the central bank of that country for the account of the home NCB.
Če je v uporabi sistem označevanja finančnega premoženja za zavarovanje terjatev, nasprotna stranka takoj, ko NCB države članice, v kateri je ustanovljena (tj. „domača NCB“), sprejme njeno protiponudbo za posojilo, izda nalog (prek lastnega skrbnika, če je to potrebno) sistemu poravnave vrednostnih papirjev v državi, v kateri se nahaja tržno finančno premoženje, da ga prenese na centralno banko te države za račun domače NCB.
The assessment of non-regulated markets by the Eurosystem is based on three principles – safety, transparency and accessibility [59].6.2.1.6. Type of issuer/guarantor
Ocena nereguliranih trgov, ki jo pripravlja Eurosistem, temelji na treh načelih – varnost, transparentnost in dostopnost [59].6.2.1.6 Vrsta izdajatelja/garanta
alli = all % × (ai)
alli = all%×(ai)
Before these links can be used to transfer collateral for Eurosystem credit operations, they have to be assessed and approved against the standards for the use of Union SSSs [115], [116]. From a Eurosystem perspective, the CCBM and the links between Union SSSs fulfil the same role of allowing counterparties to use collateral on a cross-border basis, i.e. both enable counterparties to use collateral to obtain credit from their home NCB, even if this collateral was issued in an SSS of another country.
Preden se lahko te povezave uporabijo za prenos zavarovanja pri kreditnih poslih Eurosistema, jih je treba oceniti in odobriti v skladu s standardi za uporabo SPVP v Uniji [115], [116].S stališča Eurosistema CCBM in povezave med SPVP v Uniji enako omogočajo nasprotnim strankam, da uporabijo finančno premoženje za čezmejno zavarovanje terjatev, tj. oboje omogoča nasprotnim strankam, da uporabijo finančno premoženje za pridobitev posojila od njihove domače NCB, tudi če je bilo to finančno premoženje izdano v SPVP druge države.
ICAS in-house credit assessment system ICSD international central securities depository IDC intraday credit
KNPVP kolektivni naložbeni podjem za vlaganje v prenosljive vrednostne papirje
MFI monetary financial institution MMF money market fund NCB national central bank PD probability of default
MFI denarna finančna institucija
Reverse transactions Collection of fixed-term deposits
Povratne transakcije Zbiranje vezanih depozitov
Having regard to the Treaty on the Functioning of the European Union and, in particular Article 127(2) thereof,
ob upoštevanju Pogodbe o delovanju Evropske unije in zlasti člena 127(2) Pogodbe,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank and, in particular Article 3.1 and Articles 17, 18 and 22 thereof,
ob upoštevanju Statuta Evropskega sistema centralnih bank in Evropske centralne banke ter zlasti člena 3.1 in členov 17, 18 in 22 Statuta,
Amendments should be made to Guideline ECB/2007/2 to: (a) take into account the need to include the ‘grounds of prudence’ among the criteria on the basis of which an application for participation in TARGET2 will be rejected, and a participant’s participation in TARGET2 or its access to intraday credit might be suspended, limited or terminated; and (b) reflect new requirements for TARGET2 participants related to the administrative and restrictive measures introduced under Articles 75 and 215 of the Treaty, respectively,
Smernico ECB/2007/2 bi bilo treba spremeniti, da se: (a) upošteva potreba po tem, da se med merila, na podlagi katerih bo prijava za udeležbo v sistemu TARGET2 zavrnjena in na podlagi katerih se lahko udeleženca začasno ali trajno izključi iz udeležbe v sistemu TARGET2 oziroma se mu začasno ali trajno zavrne dostop do posojila čez dan ali se mu to udeležbo oziroma dostop omeji, vključijo „razlogi skrbnega in varnega poslovanja“; in (b) upoštevajo nove zahteve za udeležence v sistemu TARGET2 v povezavi z upravnimi in omejevalnimi ukrepi, uvedenimi na podlagi člena 75 oziroma člena 215 Pogodbe –
In Article 2 of Guideline ECB/2007/2, the definition of ‘transition period’ is replaced by the following:
V členu 2 Smernice ECB/2007/2 se opredelitev pojma „prehodno obdobje“ nadomesti z naslednjim:
“transition period” means, in respect of each Eurosystem CB, the period of four years starting from the moment the Eurosystem CB migrates to the SSP, unless otherwise decided by the Governing Council with respect to specific features or services on a case-by-case basis’.
‚prehodno obdobje‘ pomeni pri vsaki CB Eurosistema obdobje štirih let, ki začne teči od trenutka, ko CB Eurosistema migrira na ESP, razen če Svet ECB v zvezi s posebnimi funkcijami ali storitvami za vsak posamezen primer odloči drugače“.
Annexes II, III and V to Guideline ECB/2007/2 are amended in accordance with the Annex to this Guideline.
Priloge II, III in V k Smernici ECB/2007/2 se spremenijo v skladu s Prilogo k tej smernici.
It shall apply from 21 November 2011.
Uporablja se od 21. novembra 2011.