natgillin/translations-raw huggingface dataset:
on a half-yearly basis by AIFMs managing portfolios of AIFs whose assets under management calculated in accordance with Article 2 in total exceed the threshold of either EUR 100 million or EUR 500 million laid down in points (a) and (b) respectively of Article 3(2) of Directive 2011/61/EU but do not exceed EUR 1 billion, for each of the EU AIFs they manage and for each of the AIFs they market in the Union;
UAIS, ki upravljajo portfelje AIS, katerih upravljana sredstva, izračunana v skladu s členom 2, skupaj presegajo prag 100 milijonov EUR oziroma 500 milijonov EUR iz točk (a) oziroma (b) člena 3(2) Direktive 2011/61/EU, vendar ne presegajo 1 milijarde EUR, poročajo na polletni osnovi in za vsak AIS v EU, ki ga upravljajo, in za vsak AIS, ki ga tržijo v Uniji;
on a quarterly basis by AIFMs managing portfolios of AIFs whose assets under management calculated in accordance with Article 2 in total exceed EUR 1 billion, for each of the EU AIFs they manage, and for each of the AIFs they market in the Union;
UAIS, ki upravljajo portfelje AIS, katerih upravljana sredstva, izračunana v skladu s členom 2, skupaj presegajo 1 milijardo EUR, poročajo na četrtletni osnovi in za vsak AIS v EU, ki ga upravljajo, in za vsak AIS, ki ga tržijo v Uniji;
on a quarterly basis by AIFMs which are subject to the requirements referred to in point (a) of this paragraph, for each AIF whose assets under management, including any assets acquired through use of leverage, in total exceed EUR 500 million, in respect of that AIF;
UAIS, ki so predmet zahtev iz točke (a) tega odstavka, poročajo na četrtletni osnovi za vsak AIS, katerega upravljana sredstva, vključno s sredstvi, pridobljenimi z uporabo finančnega vzvoda, skupaj presegajo 500 milijonov EUR;
on an annual basis by AIFMs in respect of each unleveraged AIF under their management which, in accordance with its core investment policy, invests in non-listed companies and issuers in order to acquire control.
UAIS poročajo letno za vsak AIS brez finančnega vzvoda, ki ga upravljajo, ki v skladu z osnovno naložbeno politiko vlaga v podjetja in izdajatelje, ki ne kotirajo na borzi, z namenom pridobitve obvladovanja.
By way of derogation from paragraph 3, the competent authority of the home Member State of the AIFM may deem it appropriate and necessary for the exercise of its function to require all or part of the information to be reported on a more frequent basis.
Z odstopanjem od odstavka 3 lahko pristojni organ matične države članice UAIS šteje, da je ustrezno in potrebno za uresničevanje njegove funkcije, da zahteva, da se vse ali del informacij sporočajo pogosteje.
AIFMs managing one or more AIFs which they have assessed to be employing leverage on a substantial basis in accordance with Article 111 of this Regulation shall provide the information required under Article 24(4) of Directive 2011/61/EU at the same time as that required under paragraph 2 of this Article.
UAIS, ki upravljajo enega ali več AIS, za katere so ocenili, da znatno uporabljajo finančni vzvod v skladu s členom 111 te uredbe, zagotovijo informacije, ki se zahtevajo v členu 24(4) Direktive 2011/61/EU, istočasno kot informacije, ki se zahtevajo v odstavku 2 tega člena.
AIFMs shall provide the information specified under paragraphs 1, 2 and 5 in accordance with the pro-forma reporting template set out in the Annex IV.
UAIS zagotovijo informacije, določene v odstavkih 1, 2 in 5, v skladu s predlogo za poročanje na uradnem obrazcu iz Priloge IV.
In accordance with point (a) of Article 42(1) of Directive 2011/61/EU, for non-EU AIFMs, any reference to the competent authorities of the home Member State shall mean the competent authority of the Member State of reference.
V skladu s točko (a) člena 42(1) Direktive 2011/61/EU za UAIS držav, ki niso članice EU, vsako sklicevanje na pristojne organe matične države članice pomeni pristojni organ referenčne države članice.
Use of leverage on a ‘substantial basis’
„Znatna“ uporaba finančnega vzvoda
Leverage shall be considered to be employed on a substantial basis for the purposes of Article 24(4) of Directive 2011/61/EU when the exposure of an AIF as calculated according to the commitment method under Article 8 of this Regulation exceeds three times its net asset value.
Za namene člena 24(4) Direktive 2011/61/EU se šteje, da se finančni vzvod znatno uporablja, če je izpostavljenost AIS, kot je izračunana v skladu z metodo zavezujoče izpostavljenosti iz člena 8 te uredbe, trikrat večja od čiste vrednosti njegovih sredstev.
Where the requirements referred to in paragraph 1 of this Article are fulfilled, AIFMs shall provide information in accordance with Article 24(4) of Directive 2011/61/EU to the competent authorities of their home Member States in accordance with the principles laid down in Article 110(3) of this Regulation.
Če so izpolnjene zahteve iz odstavka 1 tega člena, UAIS informacije v skladu s členom 24(4) Direktive 2011/61/EU pristojnim organom njihove domače države članice zagotovijo v skladu z načeli, opredeljenimi v členu 110(3) te uredbe.
(Article 25(3) of Directive 2011/61/EU)
(člen 25(3) Direktive 2011/61/EU)
Restrictions on the management of AIFs
Omejitve v zvezi z upravljanjem AIS
The principles laid down in this Article shall apply in order to specify the circumstances in which competent authorities exercise their power to impose leverage limits or other restrictions on AIFMs.
Načela, opredeljena v tem členu, se uporabljajo za to, da se določijo okoliščine, v katerih pristojni organi izvajajo pooblastilo, v skladu s katerim lahko naložijo UAIS omejitve finančnega vzvoda ali druge omejitve.
When assessing the information received under Articles 7(3), 15(4), 24(4) or 24(5) of Directive 2011/61/EU, a competent authority shall take into account the extent to which the use of leverage by an AIFM or its interaction with a group of AIFMs or other financial institutions can contribute to the build-up of systemic risk in the financial system or risks creating disorderly markets.
Pri ocenjevanju informacij, ki jih prejme v skladu s členom 7(3), členom 15(4), členom 24(4) ali členom 24(5) Direktive 2011/61/EU, pristojni organ upošteva obseg, v katerem lahko uporaba finančnega vzvoda s strani UAIS ali njegovo sodelovanje s skupino UAIS ali z drugimi finančnimi institucijami vpliva na nastanek sistemskega tveganja v finančnem sistemu ali tveganj, ki lahko privedejo do neurejenih trgov.
Competent authorities shall take into account at least the following aspects in their assessment:
Pristojni organi pri svoji oceni upoštevajo vsaj naslednje vidike:
the circumstances in which the exposure of an AIF or several AIFs including those exposures resulting from financing or investment positions entered into by the AIFM for its own account or on behalf of the AIFs could constitute an important source of market, liquidity or counterparty risk to a financial institution;
okoliščine, v katerih bi lahko izpostavljenost AIS ali več AIS, vključno z izpostavljenostmi, ki izhajajo iz financiranja ali naložbenih pozicij, ki jih je UAIS sklenil za svoj račun ali v imenu AIS, za finančno institucijo predstavljala pomemben vir tržnega tveganja, likvidnostnega tveganja ali tveganja izpostavljenosti do nasprotne stranke;
the circumstances in which the activities of an AIFM or its interaction with, for example, a group of AIFMs or other financial institutions, in particular with respect to the types of assets in which the AIF invests and the techniques employed by the AIFM through the use of leverage, contribute or could contribute to a downward spiral in the prices of financial instruments or other assets in a manner that threatens the viability of such financial instruments or other assets;
okoliščine, v katerih dejavnosti UAIS ali njegovo sodelovanje z na primer skupino UAIS ali drugimi finančnimi institucijami, zlasti v zvezi z vrstami sredstev, v katera vlaga AIS, in tehnikami, ki jih uporablja UAIS pri uporabi finančnega vzvoda, prispevajo ali bi lahko prispevale trendu padanja cen finančnih instrumentov ali drugih sredstev na način, ki ogroža obstoj takšnih finančnih instrumentov ali drugih sredstev;
criteria such as the type of AIF, the investment strategy of the AIFM with respect to the AIFs concerned, the market conditions in which the AIFM and the AIF operate and any likely pro-cyclical effects that could result from the imposition by the competent authorities of limits or other restrictions on the use of leverage by the AIFM concerned;
merila, kot so vrsta AIS, naložbena strategija UAIS v zvezi z zadevnim AIS, tržni pogoji, v katerih poslujeta UAIS in AIS, ter vsi možni prociklični učinki, ki bi lahko bili posledica odločitve pristojnih organov, da naložijo omejitve ali druge zahteve v zvezi s finančnim vzvodom zadevnega UAIS;
criteria, such as the size of an AIF or several AIFs and any related impact in a particular market sector, concentrations of risks in particular markets in which the AIF or several AIFs are investing, any contagion risk to other markets from a market where risks have been identified, liquidity issues in particular markets at a given time, the scale of asset/liability mismatch in a particular AIFM investment strategy or irregular movements in the prices of assets in which an AIF may invest.
merila, kot so velikost AIS ali več AIS in vsi povezani učinki v določenem tržnem sektorju, koncentracije tveganj na določenih trgih, v katere vlaga AIS ali več AIS, kakršno koli tveganje širjenja na druge trge s trga, na katerem so bila ugotovljena tveganja, likvidnostne težave na določenih trgih v določenem trenutku, obseg neujemanja sredstev/obveznosti v določeni naložbeni strategiji UAIS ali nepravilno gibanje cen sredstev, v katera bi lahko vložil AIS.
Specific rules relating to third countries
Posebna pravila v zvezi s tretjimi državami
(Articles 34(1), 35(2) 36(1), Articles 37(7)(d), 40(2)(a) and Article 42(1) of Directive 2011/61/EU)
(člen 34(1), člen 35(2), člen 36(1), člen 37(7)(d), člen 40(2)(a) in člen 42(1) Direktive 2011/61/EU)
Cooperation arrangements shall cover all possible situations and actors envisaged in Chapter VII of Directive 2011/61/EU taking into account the location of the AIFM, the location of the AIF and the activity of the AIFM.
Dogovori o sodelovanju pokrivajo vse možne situacije in akterje, predvidene v poglavju VII Direktive 2011/61/EU, pri čemer se upoštevajo lokacija UAIS, lokacija AIS in dejavnost UAIS.
Cooperation arrangements shall take a written form.
Dogovori o sodelovanju so v pisni obliki.
Cooperation arrangements shall establish the specific framework for consultation, cooperation and exchange of information for supervisory and enforcement purposes between EU competent authorities and third country supervisory authorities.
Dogovori o sodelovanju vzpostavijo poseben okvir za posvetovanje, sodelovanje in izmenjavo informacij za namene nadzora in izvrševanja med pristojnimi organi EU in nadzornimi organi v tretjih državah.
Cooperation arrangements shall include a specific clause providing for the transfer of information received by a Union competent authority from a supervisory authority in a third country to other Union competent authorities, to ESMA or to the ESRB as required under Directive 2011/61/EU.
Dogovori o sodelovanju vključujejo posebno klavzulo, ki zagotavlja prenos informacij, ki jih pristojni organ Unije prejme od nadzornega organa tretje države, drugim pristojnim organom Unije, organu ESMA ali odboru ESRB, kot to zahteva Direktiva 2011/61/EU.
Mechanisms, instruments and procedures
Mehanizmi, instrumenti in postopki
Cooperation arrangements shall establish the mechanisms, instruments and procedures required for enabling Union competent authorities to have access to all information necessary for the performance of their duties under Directive 2011/61/EU.
Dogovori o sodelovanju vzpostavijo mehanizme, instrumente in postopke, ki so potrebni, da lahko imajo pristojni organi Unije dostop do vseh informacij, potrebnih za izvajanje njihovih nalog v skladu z Direktivo 2011/61/EU.
Cooperation arrangements shall establish the mechanisms, instruments and procedures required for enabling on-site inspections to be carried out where required for the exercise of the Union competent authority’s duties under Directive 2011/61/EU.
Dogovori o sodelovanju vzpostavijo mehanizme, instrumente in postopke, ki so potrebni, da se lahko izvajajo pregledi na kraju samem, kjer so potrebni za izvajanje nalog iz Direktive 2011/61/EU s strani pristojnega organa Unije.
On-site inspections shall be carried out directly by the Union competent authority or by the third country competent authority with the assistance of the Union competent authority.
Preglede na kraju samem izvaja neposredno pristojni organ Unije ali pristojni organ tretje države ob podpori pristojnega organa Unije.
Cooperation arrangements shall establish the mechanisms, instruments and procedures required for the third country competent authority to assist the Union competent authorities where it is necessary to enforce Union legislation and national implementing legislation breached by an entity established in the third country, in accordance with the national and international law applicable to that authority.
Dogovori o sodelovanju vzpostavijo mehanizme, instrumente in postopke, ki so potrebni, da lahko pristojni organ tretje države nudi pomoč pristojnim organom Unije, kjer je to potrebno za izvrševanje zakonodaje EU in nacionalne izvedbene zakonodaje v primeru kršitve s strani subjekta, ustanovljenega v tretji državi, v skladu z nacionalno in mednarodno zakonodajo, ki se uporablja za navedeni organ.
Cooperation arrangements shall ensure that the transfer to third countries of data and the analysis of data takes place only in accordance with Article 52 of Directive 2011/61/EU.
Dogovori o sodelovanju zagotovijo, da se prenos podatkov tretjim državam in analiza podatkov izvajata samo v skladu s členom 52 Direktive 2011/61/EU.
Exchange of information on the potential systemic consequences of AIFM activity
Izmenjava informacij v zvezi s potencialnimi sistemskimi posledicami dejavnosti UAIS
(Article 53(1) of Directive 2011/61/EU)
(člen 53(1) Direktive 2011/61/EU)
For the purposes of Article 53 of Directive 2011/61/EU, the competent authorities of the Member States responsible for the authorisation or supervision of AIFMs under that Directive shall exchange with the competent authorities of other Member States, and with ESMA and the ESRB at least:
Za namene člena 53 Direktive 2011/61/EU pristojni organi držav članic, odgovorni za izdajo dovoljenja ali nadzor UAIS po navedeni direktivi, s pristojnimi organi drugih držav članic, organom ESMA in odborom ESRB izmenjajo vsaj:
the information received pursuant to Article 110, whenever such information may be relevant for monitoring and responding to the potential implications of the activities of individual AIFMs or several AIFMs collectively for the stability of systemically relevant financial institutions and the orderly functioning of markets on which the AIFMs are active;
informacije, prejete v skladu s členom 110, kadar koli so lahko take informacije pomembne za spremljanje in odzivanje na potencialne posledice dejavnosti posameznih UAIS ali več UAIS skupaj za stabilnost sistemsko pomembnih finančnih institucij in pravilno delovanje trgov, na katerih so UAIS dejavni;
the information received from third country authorities whenever this is necessary for the monitoring of systemic risks;
informacije, ki so jih prejeli od organov tretjih držav, kadar je to potrebno za spremljanje sistemskih tveganj;
the analysis of the information referred to in points (a) and (b) and the assessment of any situation in which the activities of one or more supervised AIFMs or of one or more AIFs under their management are considered to contribute to the build-up of systemic risk in the financial system, to the risk of disorderly markets or to risks for the long-term growth of the economy;
analizo informacij iz točk (a) in (b) ter oceno vsake situacije, v kateri se meni, da dejavnosti enega ali več nadzorovanih UAIS ali enega ali več AIS, ki jih upravljajo, prispevajo k stopnjevanju sistemskih tveganj v finančnem sistemu, k tveganju neurejenih trgov ali k tveganjem za dolgoročno rast gospodarstva;
the measures taken, when the activity of one or more supervised AIFMs or of one or more AIFs under their management present systemic risk or jeopardise the orderly functioning of the markets on which they are active.
ukrepe, ki se sprejmejo, kadar dejavnost enega ali več nadzorovanih UAIS ali enega ali več AIS, ki jih upravljajo, predstavlja sistemsko tveganje ali ogroža urejeno delovanje trgov, na katerih so aktivni.
It shall apply from 22 July 2013.
Uporablja se od 22. julija 2013.
Committee of European Banking Supervisors, Guidelines to Article 122a of the Capital Requirements Directive of 31 December 2010, http://www.eba.europa.eu/cebs/media/Publications/Standards%20and%20Guidelines/2010/Application%20of%20Art.%20122a%20of%20the%20CRD/Guidelines.pdf
Odbor evropskih bančnih nadzornikov, smernice za uporabo člena 122a direktive o kapitalskih zahtevah z dne 31. decembra 2010, http://www.eba.europa.eu/cebs/media/Publications/Standards%20and%20Guidelines/2010/Application%20of%20Art.%20122a%20of%20the%20CRD/Guidelines.pdf.
Unsecured cash borrowings:
Nezavarovana denarna posojila:
When cash borrowings are invested they have the propensity to increase the exposure of the AIF by the total amount of those borrowings.
Ko se denarna posojila vlagajo, ponavadi povečajo izpostavljenost AIS za celoten znesek takih posojil.
Therefore, the minimum exposure is always the amount of the borrowing.
Zato je minimalna izpostavljenost vedno enaka znesku posojila.
It might be higher if the value of the investment realised with the borrowing is greater than the borrowed amount.
Višja je lahko, če je vrednost naložbe, ki je bila realizirana s posojilom, višja od izposojenega zneska.
To avoid double counting, cash borrowings that are used to finance the exposure shall not be included within the calculation.
Da bi se preprečilo podvojeno štetje, se posojila, ki se uporabijo za financiranje izpostavljenosti, ne vključijo v izračun.
If the cash borrowings are not invested but remain in cash or cash equivalent as defined in Article 7(a) they will not increase the exposure of the AIF.
Če se denarna posojila ne vložijo, temveč ostanejo v obliki denarnih sredstev ali njihovih ustreznikov, kot so opredeljeni v členu 7(a), ne bodo povečala izpostavljenosti AIS.
Secured cash borrowings:
Zavarovana denarna posojila:
Secured cash borrowings are similar to unsecured cash borrowings but the loan may be secured by a pool of assets or a single asset.
Zavarovana denarna posojila so podobna nezavarovanim denarnim posojilom, vendar je posojilo lahko zavarovano s paketom sredstev ali s posamičnim sredstvom.
Convertible borrowings:
Zamenljiva posojila:
Convertible borrowings are purchased debt which has the ability, under certain circumstances, to enable the holder or issuer to convert that debt into another asset.
Zamenljiva posojila so kupljeni dolg, ki lahko v nekaterih okoliščinah imetniku ali izdajatelju omogoči, da ta dolg pretvori v neko drugo sredstvo.
The exposure of the AIF is the market value of such borrowings.
Izpostavljenost AIS je tržna vrednost takih posojil.
Interest rate swaps:
Zamenjave obrestnih mer:
An interest rate swap is an agreement to exchange interest rate cash flows, calculated on a notional principal amount, at specified intervals (payment dates) during the life of the agreement.
Zamenjava obrestne mere je sporazum, s katerim se v času njegove veljavnosti v določenih časovnih intervalih (datum plačila) izmenjajo denarni tokovi iz obrestnih mer, izračunani na osnovi nominalnega zneska glavnice.
Each party’s payment obligation is computed using a different interest rate based on the notional exposures.
Obveznost plačila vsake stranke se izračuna z obrestno mero, ki temelji na nominalnih izpostavljenostih.
Contracts for differences:
Pogodbe na razliko:
A contract for differences (CFD) is an agreement between two parties — the investor and the CFD provider — to pay the other the change in the price of an underlying asset.
Pogodba na razliko je sporazum med dvema strankama – med vlagateljem in ponudnikom pogodbe – na podlagi katerega ena stranka drugi izplača razliko, ki je posledica spremembe v ceni osnovnega sredstva.
Depending on which way the price moves, one party pays the other the difference from the time the contract was agreed to the point in time where it ends.
Glede na to, v katero smer se giblje cena, ena stranka izplača drugi razliko, ki je nastala od trenutka, ko je bila pogodba sklenjena, do trenutka, ko se izteče.
Exposure is the market value of the underlying asset.
Izpostavljenost je tržna vrednost osnovnega sredstva.
The same treatment must be applied to financial spread bets.
Enako se obravnavajo stave na razmik v prodajni in nakupni ceni finančnih instrumentov (financial spread bets).
Futures contracts:
Standardizirane terminske pogodbe:
A futures contract is an agreement to buy or sell a stated amount of a security, currency, commodity, index or other asset at a specific future date and at a pre-agreed price.
Standardizirana terminska pogodba je sporazum o nakupu ali prodaji določene količine vrednostnih papirjev, valute, blaga, indeksa ali drugega sredstva na določen datum v prihodnosti in po vnaprej dogovorjeni ceni.
The exposure is the market value of the equivalent underlying asset.
Izpostavljenost je tržna vrednost enakovrednega osnovnega sredstva.
Total return swaps:
Zamenjava celotnega donosa:
A total return swap is an agreement in which one party (total return payer) transfers the total economic performance of a reference obligation to the other party (total return receiver).
Zamenjava celotnega donosa je sporazum, s katerim ena stranka (plačnik celotnega donosa) prenese celoten donos referenčne obveznosti na drugo stranko (prejemnik celotnega donosa).
Total economic performance includes income from interest and fees, gains or losses from market movements, and credit losses.
Celoten donos vključuje prihodke iz naslova obresti in provizij, dobičke ali izgube, ki izhajajo iz gibanj na trgu, in kreditne izgube.
The exposure of the AIF is the market value of the equivalent reference assets which have a bearing on the economic performance of the swap.
Izpostavljenost AIS je tržna vrednost enakovrednih referenčnih sredstev, ki vplivajo na donos zamenjave.
Forward agreements:
Nestandardizirane terminske pogodbe:
A forward agreement is a customised, bilateral agreement to exchange an asset or cash flows at a specified future settlement date at a forward price agreed on the trade date.
Nestandardizirana terminska pogodba je prilagojen dvostranski sporazum o zamenjavi sredstva ali denarnih tokov na določen datum poravnave v prihodnosti po terminski ceni, dogovorjeni na datum sklenitve pogodbe.
One party to the forward is the buyer (long), who agrees to pay the forward price on the settlement date;
Pri tem je ena pogodbena stranka kupec (dolga pozicija), ki se strinja, da bo na datum poravnave plačal terminsko ceno;
the other is the seller (short), who agrees to receive the forward price.
druga stranka je prodajalec (kratka pozicija), ki se strinja, da bo prodal po terminski ceni.
Entering into a forward contract typically does not require the payment of a fee.
Sklenitev nestandardizirane terminske pogodbe praviloma ne zahteva plačila provizije.
The exposure of the AIF is the market value of the equivalent underlying asset.
Izpostavljenost AIS je tržna vrednost enakovrednega osnovnega sredstva.
This may be replaced by the notional value of the contract where this is more conservative.
Ta se lahko nadomesti z nominalno vrednostjo pogodbe, če je to bolj konzervativno.
An option is an agreement that gives the buyer, who pays a fee (premium), the right — but not the obligation — to buy or sell a specified amount of an underlying asset at an agreed price (strike or exercise price) on or until the expiration of the contract (expiry).
Opcija je sporazum, ki daje kupcu, ki za to plača provizijo (premijo), pravico – vendar ne obveznosti – da kupi ali proda določeno količino osnovnega sredstva po dogovorjeni ceni (izvršilna cena) na datum ali do datuma izteka pogodbe (dospetje).