natgillin/translations-raw huggingface dataset:
The European Supervisory Authority (European Banking Authority) (EBA) established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council, the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (EIOPA) established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council and ESMA shall not refer to credit ratings in their guidelines, recommendations and draft technical standards where such references have the potential to trigger sole or mechanistic reliance on credit ratings by the competent authorities, the sectoral competent authorities, the entitites referred to in the first subparagraph of Article 4(1) or other financial market participants.
1. Evropski nadzorni organ (Evropski bančni organ) (EBA), ustanovljen z Uredbo (EU) št. 1093/2010 Evropskega parlamenta in Sveta, Evropski nadzorni organ (Evropski organ za zavarovanja in poklicne pokojnine) (EIOPA), ustanovljen z Uredbo (EU) št. 1094/2010 Evropskega parlamenta in Sveta, in ESMA se v svojih smernicah, priporočilih in osnutkih tehničnih standardov ne smejo sklicevati na bonitetne ocene, kadar bi takšno sklicevanje lahko sprožilo izključno ali sistematično zanašanje pristojnih organov, pristojnih področnih organov ali subjektov iz prvega pododstavka člena 4(1) ali drugih udeležencev na trgu finančnih storitev na bonitetne ocene.
Accordingly, by 31 December 2013, EBA, EIOPA and ESMA shall review and remove, where appropriate, all such references to credit ratings in existing guidelines and recommendations.
EBA, EIOPA in ESMA so v skladu s tem dolžni najpozneje do 31. decembra 2013 pregledati obstoječe smernice in priporočila ter, kjer je primerno, odstraniti iz njih vsa taka sklicevanja na bonitetne ocene.
The European Systemic Risk Board (ESRB) established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board shall not refer to credit ratings in its warnings and recommendations where such references have the potential to trigger sole or mechanistic reliance on credit ratings.
2. Evropski odbor za sistemska tveganja (v nadaljnjem besedilu: ESRB), ustanovljen z Uredbo (EU) št. 1092/2010 Evropskega parlamenta in Sveta z dne 24. novembra 2010 o makrobonitetnem nadzoru nad finančnim sistemom Evropske unije in ustanovitvi Evropskega odbora za sistemska tveganja, se v svojih opozorilih in priporočilih ne sme sklicevati na bonitetne ocene, kadar bi takšno sklicevanje lahko sprožilo izključno ali sistematično zanašanje na bonitetne ocene.
Over-reliance on credit ratings in Union law
Preveliko zanašanje na bonitetne ocene v pravu Unije
Without prejudice to its right of initiative, the Commission shall continue to review whether references to credit ratings in Union law trigger or have the potential to trigger sole or mechanistic reliance on credit ratings by the competent authorities, the sectoral competent authorities, the entities referred to in the first subparagraph of Article 4(1) or other financial market participants with a view to deleting all references to credit ratings in Union law for regulatory purposes by 1 January 2020, provided that appropriate alternatives to credit risk assessment have been identified and implemented.
Brez poseganja v njeno pravico do pobude Komisija še naprej pregleduje, ali sklicevanja na bonitetne ocene v pravu Unije povzročajo ali bi utegnile povzročiti izključno ali sistematično zanašanje pristojnih organov, področnih pristojnih organov, subjektov iz prvega pododstavka člena 4(1) ali drugih udeležencev na finančnem trgu na bonitetne ocene, z namenom, da se v pravu Unije za regulativne namene do 1. januarja 2020 odpravijo vsa sklicevanja na bonitetne ocene, pod pogojem, da so opredeljene in se izvajajo ustrezne alternative ocenjevanju kreditne sposobnosti.
A credit rating agency shall take all necessary steps to ensure that the issuing of a credit rating or a rating outlook is not affected by any existing or potential conflicts of interest or business relationship involving the credit rating agency issuing the credit rating or the rating outlook, its shareholders, managers, rating analysts, employees or any other natural person whose services are placed at the disposal or under the control of the credit rating agency, or any person directly or indirectly linked to it by control.’;
Bonitetna agencija sprejme vse potrebne ukrepe za zagotavljanje, da na izdajo bonitetne ocene ali obetov glede bonitetne ocene ne vpliva nobeno obstoječe ali potencialno nasprotje interesov ali poslovni odnos, ki vključuje bonitetno agencijo, ki izdaja bonitetno oceno ali obete glede bonitetne ocene, njene družbenike, vodilno osebje, bonitetne analitike, zaposlene ali katero koli drugo fizično osebo, katere storitve so dane na voljo ali so pod nadzorom bonitetne agencije, ali katero koli osebo, ki je z agencijo neposredno ali posredno povezana z obvladovanjem.“;
in paragraph 3, the introductory part is replaced by the following:
v odstavku 3 se uvodni del nadomesti z naslednjim:
At the request of a credit rating agency, ESMA may exempt a credit rating agency from complying with the requirements of points 2, 5, 6 and 9 of Section A of Annex I and Article 7(4) if the credit rating agency is able to demonstrate that those requirements are not proportionate in view of the nature, scale and complexity of its business and the nature and range of issue of credit ratings and that:’;
ESMA lahko bonitetno agencijo na njeno zahtevo oprosti izpolnjevanja zahtev iz točk 2, 5, 6 in 9 oddelka A Priloge I in člena 7(4), če lahko bonitetna agencija dokaže, da te zahteve niso sorazmerne z naravo, obsegom in kompleksnostjo njenega poslovanja ter z naravo in obsegom izdajanja bonitetnih ocen in da:“;
Credit rating agencies shall establish, maintain, enforce and document an effective internal control structure governing the implementation of policies and procedures to prevent and mitigate possible conflicts of interest and to ensure the independence of credit ratings, rating analysts and rating teams regarding shareholders, administrative and management bodies and sales and marketing activities.
Bonitetne agencije vzpostavijo, vzdržujejo, izvajajo in dokumentirajo učinkovito strukturo notranjega nadzora, s katero izvajajo politike in postopke za preprečevanje in zmanjševanje morebitnih navzkrižij interesov ter zagotavljajo neodvisnost bonitetnih ocen, bonitetnih analitikov in ocenjevalnih ekip v zvezi z delničarji, upravnimi in poslovodnimi organi ter dejavnostmi prodaje in trženja.
Credit rating agencies shall establish standard operating procedures (SOPs) with regard to corporate governance, organisation, and the management of conflicts of interest.
Bonitetne agencije uvedejo standardne delovne postopke za področje korporativnega upravljanja, organizacije in obvladovanja nasprotij interesov.
They shall periodically monitor and review those SOPs in order to evaluate their effectiveness and assess whether they should be updated.’;
Navedene standardne delovne postopke redno spremljajo in pregledujejo, da se oceni učinkovitost in potreba po posodobitvi teh postopkov.“;
the following articles are inserted:
dodajo se naslednji členi:
Conflicts of interest concerning investments in credit rating agencies
Nasprotja interesov v zvezi z naložbami v bonitetnih agencijah
A shareholder or a member of a credit rating agency holding at least 5 % of either the capital or the voting rights in that credit rating agency or in a company which has the power to exercise control or a dominant influence over that credit rating agency, shall be prohibited from:
Delničarju ali družbeniku bonitetne agencije, ki ima najmanj 5 % bodisi kapitala ali glasovalnih pravic v navedeni bonitetni agenciji ali v družbi, ki ima možnost izvrševati nadzor ali prevladujoči vpliv nad navedeno bonitetno agencijo, ni dovoljeno:
holding 5 % or more of the capital of any other credit rating agency;
imeti 5 % ali več kapitala v kateri koli drugi bonitetni agenciji;
having the right or the power to exercise 5 % or more of the voting rights in any other credit rating agency;
imeti pravice ali možnosti izvrševati 5 % ali več glasovalnih pravic v kateri koli drugi bonitetni agenciji;
having the right or the power to appoint or remove members of the administrative or supervisory board of any other credit rating agency;
imeti pravice ali možnosti imenovati ali razreševati člane upravnega odbora ali nadzornega organa katere koli druge bonitetne agencije;
being a member of the administrative or supervisory board of any other credit rating agency;
biti član upravnega odbora ali nadzornega organa katere koli druge bonitetne agencije;
exercising or having the power to exercise control or a dominant influence over any other credit rating agency.
dejansko izvrševati ali imeti možnosti izvrševati nadzor ali prevladujoči vpliv v drugih bonitetnih agencijah.
The prohibition referred to in point (a) of the first subparagraph does not apply to holdings in diversified collective investment schemes, including managed funds such as pension funds or life insurance, provided that the holdings in such schemes do not put the shareholder or member of a credit rating agency in a position to exercise significant influence on the business activities of those schemes.
Prepoved iz točke (a) prvega pododstavka ne velja za deleže v razpršenih kolektivnih naložbenih shemah, vključno z upravljanimi skladi, kot so pokojninski skladi in življenjska zavarovanja, pod pogojem, da take sheme delničarju ali družbeniku bonitetne agencije ne omogočajo izvrševanja pomembnega vpliva na poslovne dejavnosti teh shem.
This Article does not apply to investments in other credit rating agencies belonging to the same group of credit rating agencies.
Ta člen se ne uporablja za naložbe v drugih bonitetnih agencijah, ki so del iste skupine bonitetnih agencij.
Maximum duration of the contractual relationship with a credit rating agency
Najdaljše obdobje trajanja pogodbenega razmerja z bonitetno agencijo
Where a credit rating agency enters into a contract for the issuing of credit ratings on re-securitisations, it shall not issue credit ratings on new re-securitisations with underlying assets from the same originator for a period exceeding four years.
Kadar bonitetna agencija z izdajateljem ali z njim povezano tretjo osebo sklene pogodbo o izdajanju bonitetnih ocen pozicij re-listinjenja, ne sme izdajati bonitetnih ocen za pozicije re-listinjenja s sredstvi istega originatorja dlje kot štiri leta.
Where a credit rating agency enters into a contract for rating re-securitisations, it shall request that the issuer:
Kadar bonitetna agencija sklene pogodbo o izdajanju bonitetnih ocen pozicij re-listinjenja, izdajatelja zaprosi, da:
determine the number of credit rating agencies which have a contractual relationship for the issuing of credit ratings on re-securitisations with underlying assets from the same originator;
opredeli število bonitetnih agencij, ki imajo sklenjeno pogodbo o izdajanju bonitetnih ocen re-listinjenja s sredstvi istega originatorja;
calculate the percentage of the total number of outstanding rated re-securitisations with underlying assets from the same originator for which each credit rating agency issues credit ratings.
izračuna odstotni delež vseh neporavnanih ocenjenih pozicij re-listinjenja s sredstvi istega originatorja, za katerega posamezna bonitetna agencija opravlja bonitetne ocene.
Where at least four credit rating agencies each rate more than 10 % of the total number of outstanding rated re-securitisations, the limitations set out in paragraph 1 shall not apply.
Kadar vsaj štiri bonitetne agencije ocenijo po več kot 10 % skupnega števila neporavnanih ocenjenih pozicij re-listinjenja, se omejitve iz odstavka 1 ne uporabljajo.
The exemption set out in the second subparagraph shall continue to apply at least until the credit rating agency enters into a new contract for rating re-securitisations with underlying assets from the same originator.
Izvzetje iz drugega pododstavka se uporablja vsaj dotlej, dokler bonitetna agencija ne sklene nove pogodbe o oceni pozicij re-listinjenja s sredstvi istega originatorja.
Where the criteria set out in the second subparagraph are not met when entering into such a contract, the period referred to in paragraph 1 shall be calculated from the date on which the new contract was entered into.
Kadar pri sklenitvi nove pogodbe niso izpolnjena merila iz drugega pododstavka, se obdobje iz odstavka 1 izračuna od datuma sklenitve nove pogodbe.
As from the expiry of a contract pursuant to paragraph 1, a credit rating agency shall not enter into a new contract for the issuing of credit ratings on re-securitisations with underlying assets from the same originator for a period equal to the duration of the expired contract but not exceeding four years.
Bonitetna agencija ob izteku pogodbe v skladu z odstavkom 1 ne sklene nove pogodbe za izdajo bonitetnih ocen pozicij re-listinjenja s sredstvi istega originatorja, in sicer v obdobju, enakem trajanju pretekle pogodbe z istim originatorjem, a ne več kot štiri leta.
The first subparagraph shall also apply to:
Prvi pododstavek se uporablja tudi za:
a credit rating agency belonging to the same group of credit rating agencies as the credit rating agency referred to in paragraph 1;
bonitetno agencijo, ki je del iste skupine bonitetnih agencij kot bonitetna agencija iz odstavka 1;
a credit rating agency which is a shareholder or member of the credit rating agency referred to in paragraph 1;
bonitetno agencijo, ki je delničar ali družbenik bonitetne agencije iz odstavka 1;
a credit rating agency in which the credit rating agency referred to in paragraph 1 is a shareholder or member.
bonitetno agencijo, katere delničar ali družbenik je bonitetna agencija iz odstavka 1.
Notwithstanding paragraph 1, where a credit rating of a re-securitisation is issued before the end of the maximum duration of the contractual relationship as referred to in paragraph 1, a credit rating agency may continue to monitor and update those credit ratings, on a solicited basis, for the duration of the re-securitisation.
Brez poseganja v odstavek 1 velja, da če bonitetna agencija izda bonitetno oceno pozicij re-listinjenja pred iztekom najdaljšega obdobja pogodbenega razmerja iz odstavka 1, lahko bonitetna agencija na zahtevo še naprej spremlja in posodablja te bonitetne ocene v vsem obdobju trajanja navedenih pozicij re-listinjenja.
This Article shall not apply to credit rating agencies that have fewer than 50 employees at group level involved in the provision of credit rating activities, or that have an annual turnover generated from credit rating activities of less than EUR 10 million at group level.
Ta člen se ne uporablja za bonitetne agencije z manj kot 50 zaposlenimi na ravni skupine, ki so vključeni v dejavnosti bonitetnega ocenjevanja, ali katerih letni promet iz dejavnosti bonitetnega ocenjevanja je nižji od 10 milijonov EUR na ravni skupine.
Where a credit rating agency enters into a contract for the issuing of credit ratings on re-securitisations before 20 June 2013, the period referred to in paragraph 1 shall be calculated from that date.’;
Kadar bonitetna agencija sklene pogodbo o izdajanju bonitetnih ocen pozicij re-listinjenja pred 20. junijem 2013, se obdobje iz odstavka 1 izračuna od tega datuma dalje.“;
Compensation and performance evaluation of employees involved in the credit rating activities or rating outlooks, as well as persons approving the credit ratings or rating outlooks, shall not be contingent on the amount of revenue that the credit rating agency derives from the rated entities or related third parties.’;
Osebni prejemki in ocena uspešnosti zaposlenih, vključenih v dejavnosti bonitetnega ocenjevanja ali objavljanje obetov glede bonitetne ocene, in oseb, odgovornih za odobritev bonitetnih ocen ali obetov glede bonitetne ocene, niso odvisni od višine prihodka, ki ga bonitetna agencija prejme od ocenjevanih subjektov ali povezanih tretjih oseb.“;
A credit rating agency shall adopt, implement and enforce adequate measures to ensure that the credit ratings and the rating outlooks it issues are based on a thorough analysis of all the information that is available to it and that is relevant to its analysis according to the applicable rating methodologies.
Bonitetna agencija sprejme, izvaja in izvršuje ustrezne ukrepe za zagotovitev, da bonitetne ocene in obeti glede bonitetne ocene, ki jih izdaja, temeljijo na poglobljeni analizi vseh informacij, ki so ji na voljo in so pomembne za njeno analizo glede na veljavne metodologije bonitetnega ocenjevanja.
It shall adopt all necessary measures so that the information it uses in assigning credit ratings and rating outlooks is of sufficient quality and from reliable sources.
Bonitetna agencija sprejme vse potrebne ukrepe, da so informacije, ki jih uporablja pri dodeljevanju bonitetnih ocen in obetov glede bonitetne ocene, dovolj kakovostne in da so viri teh informacij zanesljivi.
The credit rating agency shall issue credit ratings and rating outlooks stipulating that the rating is the agency’s opinion and should be relied upon to a limited degree.
Bonitetna agencija pri izdajanju bonitetnih ocen in obetov glede bonitetne ocene navede, da je bonitetna ocena njeno mnenje in da bi se bilo treba nanjo zanašati le do določene meje.
Changes in credit ratings shall be issued in accordance with the credit rating agency’s published rating methodologies.’;
Spremembe v bonitetnih ocenah se izdajo v skladu z objavljenimi metodologijami bonitetnega ocenjevanja bonitetne agencije.“;
in paragraph 5, the following subparagraph is added:
v odstavku 5 se doda naslednji pododstavek:
‘Sovereign ratings shall be reviewed at least every six months.’;
„Bonitetne ocene držav se revidirajo najmanj vsakih šest mesecev.“;
A credit rating agency that intends to make a material change to, or use, new rating methodologies, models or key rating assumptions which could have an impact on a credit rating shall publish the proposed material changes or proposed new rating methodologies on its website inviting stakeholders to submit comments for a period of one month together with a detailed explanation of the reasons for and the implications of the proposed material changes or proposed new rating methodologies.’;
Bonitetna agencija, ki namerava vsebinsko spremeniti obstoječe metodologije bonitetnega ocenjevanja ali uporabiti nove metodologije, modele ali ključne predpostavke ocenjevanja, ki bi utegnile vplivati na bonitetno oceno, na svojem spletišču objavi predlagane vsebinsko spremenjene ali predlagane nove metodologije bonitetnega ocenjevanja ter pozvati zainteresirane strani, da podajo pripombe v roku enega meseca, skupaj s podrobno razlago razlogov za predlagane vsebinske spremembe ali predlagane nove metodologije bonitetnega ocenjevanja in njihovimi posledicami.“;
Where rating methodologies, models or key rating assumptions used in credit rating activities are changed in accordance with Article 14(3), a credit rating agency shall:’;
Kadar se metodologije bonitetnega ocenjevanja, modeli ali ključne predpostavke ocenjevanja, uporabljene pri dejavnostih bonitetnega ocenjevanja, spremenijo v skladu s členom 14(3), bonitetna agencija:“;
immediately inform ESMA and publish on its website the results of the consultation and the new rating methodologies together with a detailed explanation thereof and their date of application;
nemudoma obvesti ESMA in na svojem spletišču objavi rezultate posvetovanj ter nove metodologije bonitetnega ocenjevanja skupaj z njihovo podrobno obrazložitvijo ter datumom začetka njihove uporabe;
(ab) immediately publish on its website the responses to the consultation referred to in paragraph 5a except in cases where confidentiality is requested by the respondent to the consultation;’;
(ab) na svojem spletišču nemudoma objavi odzive posvetovanj iz odstavka 5a, razen kadar udeleženec posvetovanja zaprosi za zaupnost;“;
Where a credit rating agency becomes aware of errors in its rating methodologies or in their application it shall immediately:
Kadar bonitetna agencija izve za napake v svojih metodologijah bonitetnega ocenjevanja ali pri njihovi uporabi, nemudoma:
notify those errors to ESMA and all affected rated entities explaining the impact on its ratings including the need to review issued ratings;
sporoči te napake ESMA in vsem prizadetim ocenjevanim subjektom ter razloži vpliv na svoje ocene ter potrebo po reviziji izdanih ocen;
where errors have an impact on its credit ratings, publish those errors on its website;
kadar te napake vplivajo na bonitetno oceno, jih objavi na svojem spletišču;
correct those errors in the rating methodologies; and
odpravi te napake v metodologijah bonitetnega ocenjevanja in
apply the measures referred to in points (a), (b) and (c) of paragraph 6.’;
izvede ukrepe iz točk (a), (b) in (c) odstavka 6.“;
the following Articles are inserted:
vstavi se naslednji člen:
Sovereign ratings
Bonitetne ocene držav
Sovereign ratings shall be issued in a manner which ensures that the individual specificity of a particular Member State has been analysed.
Bonitetne ocene držav se izdajo na način, ki zagotavlja, da so bile analizirane individualne posebnosti države članice.
A statement announcing revision of a given group of countries shall be prohibited if it is not accompanied by individual country reports.
Izjava o napovedani reviziji skupine držav je prepovedana, če je ne spremljajo tudi poročila o posameznih državah.
Such reports shall be made publicly available.
Taka poročila so javno objavljena.
Public communications other than credit ratings, rating outlooks, or accompanying press releases or reports as referred to in point 5 of Part I of Section D of Annex I, which relate to potential changes in sovereign ratings shall not be based on information within the sphere of the rated entity that has been disclosed without the consent of the rated entity, unless it is available from generally accessible sources or unless there are no legitimate reasons for the rated entity not to give its consent to the disclosure of the information.
Javna sporočila, ki niso bonitetne ocene, obeti glede bonitetnih ocen ali spremljajoča sporočila za javnost ali poročila iz točke 5 dela I oddelka D Priloge I, povezani z morebitnimi spremembami v bonitetni oceni držav, ne temeljijo na informacijah, ki jih ima ocenjeni subjekt in ki so bile razkrite brez soglasja ocenjenega subjekta, razen če so na razpolago v splošno dostopnih virih ali če ni upravičenih razlogov, zakaj ocenjeni subjekt ne bi dal soglasja za razkritje teh informacij.
A credit rating agency shall, taking into consideration the second subparagraph of Article 8(5), publish on its website and submit to ESMA on an annual basis, in accordance with point 3 of Part III of Section D of Annex I, a calendar at the end of December for the following 12 months, setting a maximum of three dates for the publication of unsolicited sovereign ratings and related rating outlooks and setting the dates for the publication of solicited sovereign ratings and related rating outlooks.
Bonitetna agencija ob upoštevanju drugega pododstavka člena 8(5) v skladu s točko 3 dela III oddelka D Priloge I na svojem spletišču objavi in organu ESMA vsako leto konec decembra predloži koledarski razpored za naslednjih 12 mesecev, v katerem določi največ tri datume za objavo nenaročenih bonitetnih ocen držav in s tem povezanih obetov pa tudi datume za objavo naročenih bonitetnih ocen držav in s tem povezanih obetov.
Such dates shall be set on a Friday.
Vsi taki datumi so na petek.