natgillin/translations-raw huggingface dataset:
the verification of the model's accuracy through frequent back-testing as set out in points (b) to (e) of Article 293(1);
preverjanje natančnosti modela s pogostim testiranjem za nazaj, kakor je navedeno v točkah (b) do (e) člena 293(1);
the compliance of the CCR control unit and collateral management unit with the relevant regulatory requirements.
skladnost kontrolne enote CCR in enote za upravljanje zavarovanja s premoženjem z zadevnimi regulativnimi zahtevami.
Institutions shall ensure that the distribution of exposures generated by the model used to calculate effective EPE is closely integrated into the day-to-day CCR management process of the institution, and that the output of the model is taken into account in the process of credit approval, CCR management, internal capital allocation and corporate governance.
Institucije zagotovijo, da je porazdelitev izpostavljenosti, določena z modelom, uporabljenim za izračun efektivne EPE, vključena v vsakodnevni postopek upravljanja CCR institucije ter da je rezultat modela upoštevan pri odobravanju kreditov, upravljanju CCR, razporeditvi notranjega kapitala in korporativnem upravljanju.
The institution shall demonstrate to the satisfaction of the competent authorities that it has been using a model to calculate the distribution of exposures upon which the EPE calculation is based that meets, broadly, the requirements set out in this Section for at least one year prior to permission to use the IMM by the competent authorities in accordance with Article 283.
Institucija pristojnim organom dokaže, da je vsaj eno leto preden je pridobila dovoljenje pristojnih organov v skladu s členom 283, da lahko uporablja IMM, uporabljala model za izračun porazdelitve izpostavljenosti, na katerem temelji izračun EPE in ki na splošno izpolnjuje zahteve iz tega oddelka.
The model used to generate a distribution of exposures to CCR shall be part of the CCR management framework required by Article 286.
Model, ki se uporablja za pripravo porazdelitve izpostavljenosti do CCR, je del okvira za upravljanje CCR, ki ga zahteva člen 286.
This framework shall include the measurement of usage of credit lines, aggregating CCR exposures with other credit exposures and internal capital allocation.
S tem okvirom se s seštevanjem izpostavljenosti do CCR z drugimi kreditnimi izpostavljenostmi izmeri uporaba kreditnih linij in razporedi notranji kapital.
In addition to EPE, an institution shall measure and manage current exposures.
Poleg EPE institucija meri in upravlja tekoče izpostavljenosti.
Where appropriate, the institution shall measure current exposure gross and net of collateral.
Če je primerno, institucija meri tekoče izpostavljenosti pred in po upoštevanju zavarovanja s premoženjem.
The use test is satisfied if an institution uses other CCR measures, such as peak exposure, based on the distribution of exposures generated by the same model to compute EPE.
Test uporabnosti je opravljen, če institucija za izračun EPE uporablja druge mere CCR, kot je konična izpostavljenost, ki temeljijo na porazdelitvi izpostavljenosti, oblikovane z istim modelom kot izračun EPE.
An institution shall have the systems capability to estimate EE daily if necessary, unless it demonstrates to the satisfaction of its competent authorities that its exposures to CCR warrant less frequent calculation.
Institucija ima sistemsko zmogljivost, da po potrebi dnevno ocenjuje EE, razen če pristojnim organom dokaže, da njene izpostavljenosti do CCR upravičujejo manj pogosto izračunavanje.
The institution shall estimate EE along a time profile of forecasting horizons that adequately reflects the time structure of future cash flows and maturity of the contracts and in a manner that is consistent with the materiality and composition of the exposures.
Institucija oceni EE po časovnem načrtu napovedovalnih obdobij, ki primerno prikazuje časovno strukturo prihodnjih denarnih tokov in zapadlosti pogodb ter je pripravljen na način, ki upošteva pomembnost in sestavo izpostavljenosti.
Exposure shall be measured, monitored and controlled over the life of all contracts in the netting set and not only to the one-year horizon.
Izpostavljenost se meri, spremlja in kontrolira ves čas trajanja vseh pogodb v nizu pobotov in ne samo v enoletnem obdobju.
The institution shall have procedures in place to identify and control the risks for counterparties where the exposure rises beyond the one-year horizon.
Institucija ima vzpostavljene postopke za ugotavljanje in kontrolo tveganj do nasprotnih strank, če je izpostavljenost daljša od enega leta.
The forecast increase in exposure shall be an input into the institution's internal capital model.
Napovedano povečanje izpostavljenosti je podatek, ki se upošteva v modelu notranjega kapitala institucije.
Stress testing
Stresno testiranje
An institution shall have a comprehensive stress testing programme for CCR, including for use in assessment of own funds requirements for CCR, which complies with the requirements laid down in paragraphs 2 to 10.
Institucija ima vzpostavljen izčrpen program za stresno testiranje CCR, ki se uporablja tudi pri oceni kapitalskih zahtev za CCR in je skladen z zahtevami iz odstavkov 2 do 10.
It shall identify possible events or future changes in economic conditions that could have unfavourable effects on an institution's credit exposures and assess the institution's ability to withstand such changes.
S tem se ugotavljajo morebitni dogodki ali prihodnje spremembe v gospodarskih razmerah, ki bi lahko neugodno vplivale na kreditne izpostavljenosti institucije, in presoja zmožnost institucije, da vzdrži take spremembe.
The stress measures under the programme shall be compared against risk limits and considered by the institution as part of the process set out in Article 81 of Directive 2013/36/EU.
Stresni ukrepi iz programa se primerjajo z limiti tveganja in jih institucija obravnava v okviru procesa iz člena 81 Direktive 2013/36/EU.
The programme shall comprehensively capture trades and aggregate exposures across all forms of counterparty credit risk at the level of specific counterparties in a sufficient time frame to conduct regular stress testing.
Program zajema vse posle in agregatne izpostavljenosti na ravni določenih nasprotnih strank po vseh oblikah kreditnega tveganja nasprotne stranke v časovnem okviru, ki je dovolj dolg, da se izvede redno stresno testiranje.
It shall provide for at least monthly exposure stress testing of principal market risk factors such as interest rates, FX, equities, credit spreads, and commodity prices for all counterparties of the institution, in order to identify, and enable the institution when necessary to reduce outsized concentrations in specific directional risks.
S tem programom se za vse nasprotne stranke institucije zagotavlja vsaj mesečno stresno testiranje izpostavljenosti iz naslova glavnih tržnih dejavnikov tveganja, kot so obrestne mere, tuje valute, lastniški instrumenti, kreditni razmiki in cene blaga, da se opredeli čezmerna koncentracija posebnih usmerjevalnih tveganj in da jo institucija, kjer je to potrebno, lahko zmanjša.
Exposure stress testing -including single factor, multifactor and material non-directional risks- and joint stressing of exposure and creditworthiness shall be performed at the counterparty-specific, counterparty group and aggregate institution-wide CCR levels.
Stresno testiranje izpostavljenosti CCR (z enim dejavnikom, več dejavniki in pomembnimi neusmerjevalnimi tveganji) – ter istočasno testiranje izpostavljenosti in kreditne sposobnosti se izvajata na ravni posamezne nasprotne stranke, skupine nasprotnih strank in na agregatni ravni institucije.
It shall apply at least quarterly multifactor stress testing scenarios and assess material non-directional risks including yield curve exposure and basis risks.
Uporablja vsaj četrtletne scenarije stresnega testiranja z več dejavniki in ocenjuje pomembna neusmerjevalna tveganja, vključno z izpostavljenostjo krivulje donosa in osnovnimi tveganji.
Multiple-factor stress tests shall, at a minimum, address the following scenarios in which the following occurs:
Stresni testi z več dejavniki obravnavajo vsaj naslednje scenarije:
severe economic or market events have occurred;
prišlo je do resnih dogodkov v gospodarstvu ali na trgu;
broad market liquidity has decreased significantly;
splošna tržna likvidnost se je znatno zmanjšala;
a large financial intermediary is liquidating positions.
velik finančni posrednik zapira pozicije.
The severity of the shocks of the underlying risk factors shall be consistent with the purpose of the stress test.
Resnost šokov osnovnih dejavnikov tveganja je je skladna z namenom stresnega testiranja.
When evaluating solvency under stress, the shocks of the underlying risk factors shall be sufficiently severe to capture historical extreme market environments and extreme but plausible stressed market conditions.
Pri ocenjevanju kapitalske ustreznosti v stresnih situacijah so šoki osnovnih dejavnikov tveganja dovolj resni, da zajamejo zgodovinsko ekstremne tržne pogoje in ekstremne, vendar verjetne, stresne tržne pogoje.
The stress tests shall evaluate the impact of such shocks on own funds, own funds requirements and earnings.
Pri stresnem testiranju se ocenjuje učinek takšnih šokov na kapital, kapitalske zahteve in dobičke.
For the purpose of day-to-day portfolio monitoring, hedging, and management of concentrations the testing programme shall also consider scenarios of lesser severity and higher probability.
Za namen vsakodnevnega spremljanja portfelja, varovanja pred tveganjem in upravljanja koncentracij program testiranja preuči tudi manj resne scenarije, ki so bolj verjetni.
The programme shall include provision, where appropriate, for reverse stress tests to identify extreme, but plausible, scenarios that could result in significant adverse outcomes.
Program vključuje določbe, kjer je to primerno, za povratne stresne teste, da se opredelijo ekstremni, vendar verjetni scenariji, ki bi lahko privedli do zelo škodljivih rezultatov.
Reverse stress testing shall account for the impact of material non-linearity in the portfolio.
Povratno stresno testiranje upošteva učinek pomembne nelinearnosti v portfelju.
The results of the stress testing under the programme shall be reported regularly, at least on a quarterly basis, to senior management.
Višjemu vodstvu se redno in vsaj na četrtletni osnovi poročajo rezultati stresnega testiranja v okviru programa.
The reports and analysis of the results shall cover the largest counterparty-level impacts across the portfolio, material concentrations within segments of the portfolio (within the same industry or region), and relevant portfolio and counterparty specific trends.
Poročila in analiza rezultatov zajemajo največje učinke na ravni nasprotne stranke v portfelju, pomembne koncentracije znotraj segmentov portfelja (znotraj iste panoge ali regije) ter posebne trende zadevnega portfelja in nasprotne stranke.
Senior management shall take a lead role in the integration of stress testing into the risk management framework and risk culture of the institution and ensure that the results are meaningful and used to manage CCR.
Višje vodstvo prevzame vodilno vlogo pri integraciji stresnega testiranja v okvir upravljanja tveganj in kulturo tveganja institucije ter zagotavlja, da so rezultati smiselni in se uporabljajo za upravljanje CCR.
The results of stress testing for significant exposures shall be assessed against guidelines that indicate the institution's risk appetite, and referred to senior management for discussion and action when excessive or concentrated risks are identified.
Rezultati stresnega testiranja za znatne izpostavljenosti se ocenijo glede na smernice, ki kažejo nagnjenost institucije k tveganju, in predložijo višjemu vodstvu v razpravo in ukrepanje, ko je ugotovljeno čezmerno ali koncentrirano tveganje.
Wrong-Way Risk
Tveganje neugodnih gibanj
'General Wrong-Way risk' arises when the likelihood of default by counterparties is positively correlated with general market risk factors;
"splošno tveganje neugodnih gibanj" nastopi, ko obstaja pozitivna korelacija med verjetnostjo neizpolnitve obveznosti nasprotnih strank in splošnimi dejavniki tržnega tveganja;
'Specific Wrong-Way risk' arises when future exposure to a specific counterparty is positively correlated with the counterparty's PD due to the nature of the transactions with the counterparty.
"posebno tveganje neugodnih gibanj" nastopi, ko obstaja pozitivna korelacija med prihodnjo izpostavljenostjo do določene nasprotne stranke in PD te nasprotne stranke zaradi narave posla s to stranko.
An institution shall be considered to be exposed to Specific Wrong-Way risk if the future exposure to a specific counterparty is expected to be high when the counterparty's probability of a default is also high.
Šteje se, da je institucija izpostavljena posebnemu tveganju neugodnih gibanj, če se pričakuje, da bo prihodnja izpostavljenost do določene nasprotne stranke visoka, hkrati pa bo visoka tudi verjetnost neplačila nasprotne stranke.
An institution shall give due consideration to exposures that give rise to a significant degree of Specific and General Wrong-Way Risk.
Institucija primerno obravnava izpostavljenosti, ki povzročajo znatno posebno in splošno tveganje neugodnih gibanj.
In order to identify General Wrong-Way Risk, an institution shall design stress testing and scenario analyses to stress risk factors that are adversely related to counterparty credit worthiness.
Institucija za opredelitev splošnega tveganja neugodnih gibanj načrtuje stresno testiranje in analize scenarija, da bi stresnim situacijam izpostavila dejavnike tveganja, ki škodljivo vplivajo na kreditno sposobnost nasprotne stranke.
Such testing shall address the possibility of severe shocks occurring when relationships between risk factors have changed.
Takšno testiranje obravnava možnost, da pride do resnih šokov, če se odnosi med dejavniki tveganja spremenijo.
An institution shall monitor General Wrong Way Risk by product, by region, by industry, or by other categories that are relevant to the business.
Institucija spremlja splošno tveganje neugodnih gibanj po proizvodih, regijah, panogah ali drugih kategorijah, ki so pomembne za podjetje.
An institution shall maintain procedures to identify, monitor and control cases of Specific Wrong-Way risk for each legal entity, beginning at the inception of a transaction and continuing through the life of the transaction.
Institucija ohranja postopke za ugotavljanje, spremljanje in nadzor primerov posebnega tveganja neugodnih gibanj za vsak pravni subjekt, ki se začnejo z nastankom posla in nadaljujejo v času trajanja posla.
Institutions shall calculate the own funds requirements for CCR in relation to transactions where Specific Wrong-Way risk has been identified and where there exists a legal connection between the counterparty and the issuer of the underlying of the OTC derivative or the underlying of the transactions referred to in points (b), (c) and (d) of Article 273(2)), in accordance with the following principles:
Institucije izračunajo kapitalske zahteve za CCR v zvezi s posli, kadar je bilo ugotovljeno posebno tveganje neugodnih gibanj in obstaja pravna povezava med nasprotno stranko in izdajateljem osnovnega instrumenta izvedenega finančnega instrumenta OTC in osnovnimi posli iz člena 273(2)(b), (c) in (d) v skladu z naslednjimi načeli:
the instruments where Specific Wrong-Way risk exists shall not be included in the same netting set as other transactions with the counterparty, and shall each be treated as a separate netting set;
instrumenti, pri katerih obstaja posebno tveganje neugodnih gibanj, se ne vključijo v isti niz pobotov kot drugi posli z nasprotno stranko in se vsak obravnava kot ločen niz pobotov;
within any such separate netting set, for single-name credit default swaps the exposure value equals the full expected loss in the value of the remaining fair value of the underlying instruments based on the assumption that the underlying issuer is in liquidation;
znotraj vsakega takšnega ločenega niza pobotov je za kreditne zamenjave za eno samo izpostavljenost vrednost izpostavljenosti enaka celotni pričakovani izgubi vrednosti preostale poštene vrednosti osnovnih instrumentov ob predpostavki, da je osnovni izdajatelj v stečajnem postopku;
LGD for an institution using the approach set out in Chapter 3 shall be 100 % for such swap transactions;
LGD za institucijo, ki uporablja pristop iz poglavja 3, znaša za takšne posle zamenjave 100 %;
for an institution using the approach set out in Chapter 2, the applicable risk weight shall be that of an unsecured transaction;
za institucijo, ki uporablja pristop iz poglavja 2, je veljavna utež tveganja tista iz nezavarovanega posla;
for all other transactions referencing a single name in any such separate netting set, the calculation of the exposure value shall be consistent with the assumption of a jump-to-default of those underlying obligations where the issuer is legally connected with the counterparty.
za vse druge posle v zvezi z eno samo izpostavljenostjo v takšnem ločenem nizu pobotov je izračun vrednosti izpostavljenosti v skladu s predpostavko skokovitega naraščanja verjetnosti neplačila tistih osnovnih obveznosti, pri katerih je izdajatelj pravno povezan z nasprotno stranko.
For transactions referencing a basket of names or index, the jump-to-default of the respective underlying obligations where the issuer is legally connected with the counterparty, shall be applied, if material;
Za posle v zvezi s košarico imen) in indeksom se uporabi, če je bistveno, skokovito naraščanje verjetnosti neplačila ustreznih osnovnih obveznosti, pri katerih je izdajatelj pravno povezan z nasprotno stranko;
to the extent that this uses existing market risk calculations for own funds requirements for incremental default and migration risk as set out in Title IV, Chapter 5, Section 4 that already contain an LGD assumption, the LGD in the formula used shall be 100 %.
kolikor se uporabljajo obstoječi izračuni tveganja na trgu za kapitalske zahteve za presežno tveganje neplačila in migracije, kakor je določeno v naslovu IV poglavja 5 oddelka 4, ki že zajemajo predpostavko LGD, je LGD v uporabljeni formuli 100 %.
Institutions shall provide senior management and the appropriate committee of the management body with regular reports on both Specific and General Wrong-Way risks and the steps being taken to manage those risks.
Institucije višjemu vodstvu in ustreznemu odboru upravljalnega organa predložijo redna poročila o posebnem in splošnem tveganju neugodnih gibanj in sprejetih ukrepih za upravljanje teh tveganj.
An institution shall ensure the integrity of modelling process as set out in Article 284 by adopting at least the following measures:
Institucija zagotavlja celovitost procesa modeliranja, kakor je določen v členu 284, tako da sprejme vsaj naslednje ukrepe:
the model shall reflect transaction terms and specifications in a timely, complete, and conservative fashion;
model odraža pogoje in lastnosti posla pravočasno, celovito in na konzervativen način;
those terms shall include at least contract notional amounts, maturity, reference assets, margining arrangements and netting arrangements;
ti pogoji vključujejo vsaj hipotetične zneske iz pogodbe, zapadlost, referenčna sredstva, dogovore o vzdrževanju kritja in pogodbe o pobotu;
those terms and specifications shall be maintained in a database that is subject to formal and periodic audit;
ti pogoji in lastnosti posla se hranijo v bazi podatkov, ki se formalno in redno revidira;
a process for recognising netting arrangements that requires legal staff to verify that netting under those arrangements is legally enforceable;
proces za priznavanje pogodb o pobotu, v skladu s katerim mora pravna služba potrditi, da je pobot v skladu s temi pogodbami pravno izvršljiv;
the verification required by point (d) shall be entered into the database mentioned in point (c) by an independent unit;
potrditev iz točke (d) neodvisna enota vnese v bazo podatkov iz točke (c);
the transmission of transaction terms and specification data to the EPE model shall be subject to internal audit;
prenos podatkov o pogojih in lastnostih o posl v model EPE je predmet notranjega revidiranja;
there shall be processes for formal reconciliation between the model and source data systems to verify on an ongoing basis that transaction terms and specifications are being reflected in EPE correctly or at least conservatively.
med modelom in sistemom izvornih podatkov obstajajo uradni procesi usklajevanja za stalno preverjanje, ali so pogoji in lastnosti posla pravilno ali vsaj konzervativno izraženi v EPE.
Current market data shall be used to determine current exposures.
Za določanje tekoče izpostavljenosti se uporabljajo tekoči tržni podatki.
An institution may calibrate its EPE model using either historic market data or market implied data to establish parameters of the underlying stochastic processes, such as drift, volatility and correlation.
Institucija lahko umeri svoj model EPE, tako da uporabi zgodovinske tržne podatke ali podatke, ki izvirajo iz trga, da določi parametre osnovnih stohastičnih procesov, kot so premik, nestanovitnost in korelacija.
If an institution uses historical data, it shall use at least three years of such data.
Če institucija uporablja zgodovinske podatke, uporablja podatke za vsaj tri pretekla leta.
The data shall be updated at least quarterly, and more frequently if necessary to reflect market conditions.
Podatki se posodabljajo vsaj vsako četrtletje ali pogosteje, če je to potrebno za to, da se odražajo tržni pogoji.
To calculate the Effective EPE using a stress calibration, an institution shall calibrate Effective EPE using either three years of data that includes a period of stress to the credit default spreads of its counterparties or market implied data from such a period of stress.
Za izračun efektivne EPE z uporabo stresne umeritve institucija umeri efektivno EPE z uporabo podatkov za tri pretekla leta, ki vključujejo stresno obdobje za kreditne razmike njenih nasprotnih strank, ali podatke, ki izvirajo iz trga iz takšnega stresnega obdobja.
The requirements in paragraphs 3, 4 and 5 shall be applied by the institution for that purpose.
V ta namen institucija uporablja zahteve iz odstavkov 3, 4 in 5.
An institution shall demonstrate to the satisfaction of the competent authority, at least quarterly, that the stress period used for the calculation under this paragraph coincides with a period of increased credit default swap or other credit (such as loan or corporate bond) spreads for a representative selection of its counterparties with traded credit spreads.
Institucija vsaj vsako četrtletje dokaže pristojnemu organu, da se obdobje izjemnih situacij, ki se uporablja za izračun iz tega odstavka, ujema z obdobjem povečanih kredinih razmikov kreditnih zamenjav ali drugih kreditnih razmikov (kot so krediti ali podjetniške obveznice) za reprezentativen izbor nasprotnih strank s kreditnimi razmiki, s katerimi se trguje.
In situations where the institution does not have adequate credit spread data for a counterparty, it shall map that counterparty to specific credit spread data based on region, internal rating and business types.
V situacijah, ko institucija za nasprotno stranko nima ustreznih podatkov o kreditnem razmiku, razvrsti nasprotno stranko s posebnim podatkom o kreditnem razmiku glede na regijo, notranjo bonitetno oceno in vrsto dejavnosti.
The EPE model for all counterparties shall use data, either historic or implied, that include the data from the stressed credit period and shall use such data in a manner consistent with the method used for the calibration of the EPE model to current data.
Model EPE za vse nasprotne stranke uporablja podatke, ki so lahko zgodovinski ali implicitni in vključujejo podatke iz obdobja stresnih situacij glede kreditov, in sicer na način, ki je skladen z metodo za umerjanje modela EPE glede na trenutne podatke.