natgillin/translations-raw huggingface dataset:
Decision ECB/2012/4 [7] provided that NCBs should not be obliged to accept as collateral in Eurosystem credit operations eligible bank bonds guaranteed by a Member State under a European Union/International Monetary Fund programme or by a Member State whose credit assessment does not comply with the Eurosystem benchmark for establishing its minimum requirement for high credit standards.
Sklep ECB/2012/12 [8] je tudi spremenil izjemo od prepovedi tesnih povezav, ki je določena v oddelku 6.2.3.2 Priloge I k Smernici ECB/2011/14, v zvezi z bančnimi obveznicami, za katere jamči država in so jih izdale in jih same uporabljajo kot zavarovanje nasprotne stranke.
Decision ECB/2012/12 [8] also reviewed the exception from the close links prohibition set out in Section 6.2.3.2 of Annex I to Guideline ECB/2011/14 with respect to government-guaranteed bank bonds own used as collateral by counterparties.
Sklep ECB/2011/25 je 2. avgusta 2012 nadomestila Smernica ECB/2012/18 [9], ki so jo NCB izvedle v svojih pogodbenih dogovorih ali predpisih.
On 2 August 2012, Decision ECB/2011/25 was replaced by Guideline ECB/2012/18 [9], which was implemented by the NCBs in their contractual or regulatory arrangements.
Smernica ECB/2012/18 je tudi omogočila nasprotnim strankam, ki sodelujejo v kreditnih poslih Eurosistema, da v izjemnih okoliščinah na podlagi predhodne odobritve Sveta ECB povečajo raven uporabe lastnih bančnih obveznic, za katere jamči država, ki so jo dosegale na dan 3. julija 2012.
Guideline ECB/2012/18 also permitted counterparties participating in Eurosystem credit operations to increase the levels of own use of government-guaranteed bank bonds that they had on 3 July 2012 subject to the ex ante approval of the Governing Council in exceptional circumstances.
Prošnjam za predhodno odobritev, ki se predložijo Svetu ECB, je treba priložiti načrt financiranja.
The requests submitted to the Governing Council for ex ante approval need to be accompanied by a funding plan.
Smernica ECB/2012/18 je bila 10. oktobra 2012 spremenjena s Smernico ECB/2012/23 [10], ki je začasno dopolnila merila, ki določajo primernost finančnega premoženja za uporabo kot zavarovanje pri operacijah denarne politike Eurosistema, in tako sprejela tržne dolžniške instrumente, denominirane v funtih šterlingih, jenih ali ameriških dolarjih, kot primerno finančno premoženje za operacije denarne politike.
Guideline ECB/2012/18 was amended on 10 October 2012 by Guideline ECB/2012/23 [10], which temporarily widened the criteria determining the eligibility of assets to be used as collateral in Eurosystem monetary policy operations, accepting marketable debt instruments denominated in pounds sterling, yen or US dollars as eligible assets for monetary policy operations.
Za takšne tržne dolžniške instrumente se je določilo zmanjšanje vrednosti, ki odraža zgodovinsko volatilnost ustreznih deviznih tečajev.
Valuation markdowns reflecting the historical volatility of the relevant exchange rates were applied to such marketable debt instruments.
Smernica ECB/2013/2 [11] podrobneje opredeljuje postopek predčasnega odplačila operacij dolgoročnejšega refinanciranja s strani nasprotnih strank, da bi se zagotovila uporaba enakih pogojev v vseh NCB.
Guideline ECB/2013/2 [11] specifies the procedure applicable to the early repayment of longer-term refinancing operations by counterparties in order to ensure that the same conditions are applied by all NCBs.
Zlasti se v primeru, ko nasprotna stranka, ki je izbrala možnost predčasnega odplačila, v celoti ali delno ne poravna zneska, ki ga je treba zadevni NCB plačati do datuma plačila, uporabi sistem sankcij iz Dodatka 6 Priloge I k Smernici ECB/2011/14.
In particular, the sanctions regime set out in Appendix 6 to Annex I to Guideline ECB/2011/14 applies where a counterparty that has opted for early repayment fails, in full or in part, to settle the amount to be repaid to the relevant NCB by the due date.
Smernica ECB/2012/18 je bila dodatno spremenjena, da se je vanjo vključila vsebina Sklepa ECB/2012/34 [12], in da se je zagotovilo, da NCB niso zavezane k temu, da kot zavarovanje pri kreditnih poslih Eurosistema sprejmejo primerne nekrite bančne obveznice:
Guideline ECB/2012/18 was further amended to incorporate the content of Decision ECB/2012/34 [12] and to ensure that NCBs are not obliged to accept as collateral for Eurosystem credit operations eligible uncovered bank bonds which are:
Zaradi jasnosti in enostavnosti je 20. marca 2013 Smernico ECB/2012/18 nadomestila Smernica ECB/2013/4, ki so jo NCB izvedle v svojih pogodbenih dogovorih ali predpisih.
In the interest of clarity and simplicity, on 20 March 2013, Guideline ECB/2012/18 was replaced by Guideline ECB/2013/4, which was implemented by the NCBs in their contractual or regulatory arrangements.
Zaradi naknadnih sprememb seznama držav članic euroobmočja, ki spoštujejo program Evropske unije/Mednarodnega denarnega sklada, je treba Smernico ECB/2013/4 dodatno prilagoditi.
In the interest of clarity and simplicity, the content of Decisions ECB/2011/4 [13], ECB/2011/10 [14] and ECB/2012/32 [15] was included in Guideline ECB/2013/4 with all other temporary measures relating to Eurosystem refinancing operations and eligibility of collateral.
Sklep ECB/2013/36 [18] prilagaja odbitke pri vrednotenju in določbe o neprekinjenosti servisiranja, ki veljajo za listinjene vrednostne papirje, ki se sprejmejo v skladu z dodatnimi začasnimi ukrepi v zvezi z Eurosistemovimi operacijami refinanciranja, določenimi v Smernici ECB/2013/4, ter spreminja merila primernosti, ki se uporabljajo za dodatna bančna posojila v skladu z navedeno smernico.
Guideline ECB/2013/4 was amended on 5 July 2013 by Decision ECB/2013/22 [16] and on 12 March 2014 by Guideline ECB/2014/12 [17] to take into account the euro area Member States that the Governing Council considered compliant with a European Union/International Monetary Fund programme, as well as to reflect amendments to the Eurosystem collateral framework.
Zaradi jasnosti in enostavnosti je treba vsebino sklepov ECB/2013/22 in ECB/2013/36 vključiti v to smernico.
Following subsequent changes to the list of euro area Member States compliant with a European Union/International Monetary Fund programme, further adjustment of Guideline ECB/2013/4 is necessary.
Svet ECB je 22. maja 2014 odločil, da lahko NCB poleg nekaterih dodatnih bančnih posojil, ki so že določena v Smernici ECB/2013/4, sprejmejo nekatere kratkoročne dolžniške instrumente, ki so jih izdale nefinančne družbe in ne bi izpolnjevali Eurosistemovih meril primernosti za tržno finančno premoženje, pod pogojem, da izpolnjujejo merila primernosti in ukrepe za obvladovanje tveganj, ki jih določi Svet ECB.
Decision ECB/2013/36 [18] adjusts the valuation haircuts and servicing continuity provisions applicable to the asset-backed securities accepted pursuant to the additional temporary measures relating to Eurosystem refinancing operations provided for in Guideline ECB/2013/4 and amends the eligibility criteria applied to additional credit claims thereunder.
Zaradi te odločitve je treba Smernico ECB/2013/4 dodatno prilagoditi.
In the interest of clarity and simplicity, the content of Decisions ECB/2013/22 and ECB/2013/36 should be included in this Guideline.
Dodatne ukrepe iz te smernice je treba uporabljati začasno, dokler ne bo Svet ECB presodil, da niso več potrebni za zagotavljanje ustreznega transmisijskega mehanizma denarne politike –
On 22 May 2014 the Governing Council decided that, in addition to certain additional credit claims already provided for in Guideline ECB/2013/4, NCBs may accept certain short-term debt instruments issued by non-financial corporations that would not satisfy the Eurosystem eligibility criteria for marketable assets, provided they comply with the eligibility criteria and risk control measures specified by the Governing Council.
SPREJEL NASLEDNJO SMERNICO:
This decision necessitates further adjustment of Guideline ECB/2013/4.
Člen 1
The additional measures set out in this Guideline should apply temporarily, until the Governing Council considers that they are no longer necessary to ensure an appropriate monetary policy transmission mechanism,
Dodatni ukrepi v zvezi z operacijami refinanciranja in primernim zavarovanjem
HAS ADOPTED THIS GUIDELINE:
Pravila za izvajanje operacij denarne politike Eurosistema in merila primernosti za zavarovanje, določena v tej smernici, se uporabljajo v povezavi s Smernico ECB/2011/14.
Article 1
V primeru razhajanj med to smernico in Smernico ECB/2011/14, kakor jo NCB izvedejo na nacionalni ravni, prevlada ta smernica.
Additional measures relating to refinancing operations and eligible collateral
NCB še naprej uporabljajo vse določbe Smernice ECB/2011/14 v nespremenjeni obliki, razen če je v tej smernici določeno drugače.
The rules for the conduct of Eurosystem monetary policy operations and the eligibility criteria for collateral laid down in this Guideline shall apply in conjunction with Guideline ECB/2011/14.
Za namene člena 6(1) in člena 8 se Helenska republika in Republika Ciper štejeta za državi članici euroobmočja, ki spoštujeta program Evropske unije/Mednarodnega denarnega sklada.
In the event of any discrepancy between this Guideline and Guideline ECB/2011/14, as implemented at national level by the NCBs, this Guideline shall prevail.
Člen 2
The NCBs shall continue to apply all the provisions of Guideline ECB/2011/14 unaltered unless otherwise provided for in this Guideline.
Možnost prekinitve operacij dolgoročnejšega refinanciranja ali znižanja njihovega zneska
For the purposes of Article 6(1) and Article 8, the Hellenic Republic and the Republic of Cyprus shall be considered euro area Member States compliant with a European Union/International Monetary Fund programme.
Eurosistem se lahko odloči, da smejo nasprotne stranke pod določenimi pogoji in pred zapadlostjo prekiniti določene operacije dolgoročnejšega refinanciranja ali znižati njihov znesek (taka prekinitev ali znižanje zneska sta v nadaljnjem besedilu tudi skupaj imenovana: predčasno odplačilo).
Article 2
Najava avkcije mora določati, ali se lahko uporabi možnost prekinitve zadevnih operacij ali znižanja njihovega zneska pred zapadlostjo, in datum, od katerega se lahko taka možnost uveljavi.
Option to reduce the amount of, or terminate, longer-term refinancing operations
Te informacije se lahko alternativno zagotovijo v drugi obliki, ki jo Eurosistem šteje za primerno.
The Eurosystem may decide that, under certain conditions, counterparties may reduce the amount of, or terminate, certain longer-term refinancing operations before maturity (such reduction of the amount or termination hereinafter also collectively referred to as ‘early repayment’).
Nasprotna stranka lahko uveljavi možnost prekinitve operacij dolgoročnejšega refinanciranja ali znižanja njihovega zneska pred zapadlostjo tako, da zadevni NCB sporoči znesek, ki ga namerava odplačati po postopku predčasnega odplačila, in datum, na katerega namerava izvesti to predčasno odplačilo, najmanj en teden pred navedenim datumom predčasnega odplačila.
The tender announcement shall specify whether the option to reduce the amount of, or terminate, the operations in question before maturity applies, as well as the date from when such option may be exercised.
Razen če Eurosistem določi drugače, se lahko predčasno odplačilo izvede na kateri koli dan, ki sovpada z dnevom poravnave operacije glavnega refinanciranja Eurosistema, pod pogojem, da nasprotna stranka pošlje sporočilo iz tega odstavka najmanj en teden pred tem datumom.
This information may alternatively be provided in another format deemed appropriate by the Eurosystem.
Sporočilo iz odstavka 2 postane zavezujoče za nasprotno stranko en teden pred datumom predčasnega odplačila, na katerega se nanaša.
A counterparty may exercise the option to reduce the amount of, or terminate, longer-term refinancing operations before maturity by notifying the relevant NCB of the amount it intends to repay under the early repayment procedure, as well as of the date on which it intends to make such early repayment, at least one week in advance of that early repayment date.
Če nasprotna stranka v celoti ali delno ne poravna dolgovanega zneska po postopku predčasnega odplačila do datuma plačila, lahko to vodi do naložitve denarnih kazni, kakor so določene v oddelku 1 Dodatka 6 Priloge I k Smernici ECB/2011/14.
Unless otherwise specified by the Eurosystem, an early repayment may be effected on any day that coincides with the settlement day of a Eurosystem main refinancing operation, provided that the counterparty makes the notification referred to in this paragraph at least one week in advance of that date.
Določbe oddelka 1 Dodatka 6, ki se uporabljajo za kršitve pravil, povezanih z avkcijami, se uporabijo, če nasprotna stranka v celoti ali delno ne poravna zneska, ki zapade na datum predčasnega odplačila iz odstavka 2.
The notification referred to in paragraph 2 shall become binding on the counterparty one week before the early repayment date it refers to.
Naložitev denarne kazni ne posega v pravico NCB, da uveljavi pravna sredstva, predvidena za pojav primera kršitve, kakor je določen v Prilogi II k Smernici ECB/2011/14.
Failure by the counterparty to settle, in full or in part, the amount due under the early repayment procedure by the due date may result in the imposition of a financial penalty as set out in Section 1 of Appendix 6 to Annex I to Guideline ECB/2011/14.
Člen 3
The provisions of Section 1 of Appendix 6 which apply to infringements of rules related to tender operations shall apply where a counterparty fails to settle, in full or in part, the amount due on the early repayment date referred to in paragraph 2.
Sprejem nekaterih dodatnih listinjenih vrednostnih papirjev
The imposition of a financial penalty shall be without prejudice to the NCB's right to exercise the remedies provided for on the occurrence of an event of default as set out in Annex II to Guideline ECB/2011/14.
Poleg listinjenih vrednostnih papirjev, ki so primerni v skladu s poglavjem 6 Priloge I k Smernici ECB/2011/14, so kot zavarovanje pri operacijah denarne politike Eurosistema primerni listinjeni vrednostni papirji, ki ne izpolnjujejo zahtev glede bonitetnih ocen iz oddelka 6.3 Priloge I k Smernici ECB/2011/14, a sicer izpolnjujejo vsa merila primernosti, ki veljajo za listinjene vrednostne papirje po Prilogi I k Smernici ECB/2011/14, vendar le pod pogojem, da imajo za izdajo dve bonitetni oceni katerih koli sprejetih zunanjih bonitetnih institucij na ravni najmanj „trojni B“ [19].
Article 3
Zadostiti morajo tudi vsem naslednjim zahtevam:
Admission of certain additional asset-backed securities
finančno premoženje, ki ustvarja denarni tok in s katerim je zavarovan listinjen vrednostni papir, mora pripadati eni od naslednjih vrst finančnega premoženja:
In addition to asset-backed securities (ABS) eligible under Chapter 6 of Annex I to Guideline ECB/2011/14, ABS which do not fulfil the credit assessment requirements under Section 6.3 of Annex I to Guideline ECB/2011/14 but which otherwise comply with all eligibility criteria applicable to ABS pursuant to Annex I to Guideline ECB/2011/14 shall be eligible as collateral for Eurosystem monetary policy operations, provided that they have two ratings of at least ‘triple B’ level [19] from any accepted external credit assessment institution for the issue.
stanovanjske hipoteke;
They shall also satisfy all the following requirements:
posojila malim in srednje velikim podjetjem;
the cash-flow generating assets backing the ABS shall belong to one of the following asset classes:
hipoteke na poslovnih nepremičninah;
residential mortgages;
posojila za nakup avtomobila;
loans to small and medium-sized enterprises (SMEs);
terjatve iz naslova leasinga;
commercial real estate mortgages;
potrošniška posojila;
auto loans;
terjatve iz naslova kreditnih kartic;
leasing receivables;
finančno premoženje, ki ustvarja denarni tok, ne sme pripadati različnim vrstam finančnega premoženja;
consumer finance loans;
finančno premoženje, ki ustvarja denarni tok in s katerim so zavarovani listinjeni vrednostni papirji, ne sme vsebovati posojil, ki so kar koli od naslednjega:
credit card receivables;
slaba posojila ob izdaji listinjenega vrednostnega papirja;
there shall be no mix of different asset classes in the cash-flow generating assets;
slaba posojila ob vključitvi v kritni sklad v času trajanja listinjenega vrednostnega papirja, na primer z zamenjavo ali nadomestitvijo finančnega premoženja, ki ustvarja denarni tok;
the cash-flow generating assets backing the ABS shall not contain loans which are any of the following:
ob katerem koli času strukturirana, sindicirana ali s finančnim vzvodom;
non-performing at the time of issuance of the ABS;
dokumenti o transakciji z listinjenimi vrednostnimi papirji morajo vsebovati določbe o neprekinjenosti servisiranja.
non-performing when incorporated in the ABS during the life of the ABS, for example by means of a substitution or replacement of the cash-flow generating assets;
Za listinjene vrednostne papirje iz odstavka 1, ki imajo dve bonitetni oceni najmanj enojni A [20], se uporablja odbitek pri vrednotenju v višini 10 %.
at any time, structured, syndicated or leveraged;
Za listinjene vrednostne papirje iz odstavka 1, ki nimajo dveh bonitetnih ocen najmanj enojni A, se uporablja odbitek pri vrednotenju v višini 22 %.
the ABS transaction documents shall contain servicing continuity provisions.
Nasprotna stranka listinjenih vrednostnih papirjev, ki so sicer primerni po odstavku 1, ne sme predložiti kot zavarovanje, če sama nasprotna stranka ali katera koli tretja oseba, ki je z njo v tesni povezavi, zagotavlja obrestno zaščito v zvezi s tem listinjenim vrednostnim papirjem.
ABS referred to in paragraph 1 that have two ratings of at least single A [20] shall be subject to a valuation haircut of 10 %.
NCB lahko sprejme kot zavarovanje pri operacijah denarne politike Eurosistema listinjene vrednostne papirje, pri katerih finančno premoženje za zavarovanje terjatev vključuje stanovanjske hipoteke ali posojila malim in srednje velikim podjetjem ali oboje, ter ki ne izpolnjujejo zahtev glede bonitetnih ocen iz oddelka 6.3.2 Priloge I k Smernici ECB/2011/14 in zahtev iz odstavka 1(a) do (d) in odstavka 4 zgoraj, sicer pa izpolnjujejo vsa merila primernosti, ki veljajo za listinjene vrednostne papirje po Smernici ECB/2011/14, in imajo dve bonitetni oceni najmanj trojni B. Taki listinjeni vrednostni papirji so omejeni na tiste, ki so bili izdani pred 20. junijem 2012, in se zanje uporablja odbitek pri vrednotenju v višini 22 %.
ABS referred to in paragraph 1 that do not have two ratings of at least single A shall be subject to a valuation haircut of 22 %.
Listinjeni vrednostni papirji z določbami o neprekinjenosti servisiranja, skladnimi s Smernico ECB/2013/4, ki so bili na listi primernega finančnega premoženja pred 1. oktobrom 2013, ostanejo primerni do 1. oktobra 2014.
A counterparty may not submit ABS that are eligible pursuant to paragraph 1 as collateral if the counterparty, or any third party with which it has close links, acts as an interest rate hedge provider in relation to the ABS.
Za namene tega člena se uporabljajo naslednje opredelitve pojmov:
An NCB may accept as collateral for Eurosystem monetary policy operations ABS whose underlying assets include residential mortgages or loans to SMEs or both and which do not fulfil the credit assessment requirements under Section 6.3.2 of Annex I to Guideline ECB/2011/14 and the requirements referred to in paragraph 1(a) to (d) and paragraph 4 above but which otherwise comply with all eligibility criteria applicable to ABS pursuant to Guideline ECB/2011/14 and have two ratings of at least triple B. Such ABS shall be limited to those issued before 20 June 2012 and shall be subject to a valuation haircut of 22 %.
„stanovanjska hipoteka“ poleg stanovanjskih posojil, zavarovanih s hipoteko, vključuje stanovanjska posojila z jamstvom (brez hipoteke), če je jamstvo izplačljivo takoj po neplačilu.
ABS with servicing continuity provisions complying with Guideline ECB/2013/4 that were on the list of eligible assets before 1 October 2013 shall remain eligible until 1 October 2014.
Tako jamstvo se lahko zagotovi v različnih pogodbenih oblikah, vključno z zavarovalnimi pogodbami, pod pogojem, da zavarovanje da oseba javnega sektorja ali finančna institucija pod javnim nadzorom.
For the purposes of this Article the following definitions shall apply:
Bonitetna ocena garanta pri takšnih jamstvih mora ves čas trajanja transakcije dosegati stopnjo kreditne kvalitete 3 na usklajeni lestvici bonitetnih ocen Eurosistema;
‘residential mortgage’, besides residential real estate mortgage-backed loans, shall include guaranteed residential real estate loans (without a real estate mortgage) if the guarantee is payable promptly on default.
„malo podjetje“ in „srednje veliko podjetje“ pomenita subjekt, ki opravlja gospodarsko dejavnost, ne glede na njegovo pravno obliko, pri čemer evidentirana prodaja za subjekt ali za konsolidirano skupino, če subjekt spada v konsolidirano skupino, znaša manj kot 50 milijonov EUR;
Such guarantee may be provided in different contractual formats, including contracts of insurance, provided they are granted by a public sector entity or a financial institution subject to public supervision.
„slabo posojilo“ vključuje posojila, pri katerih je zamuda s plačilom obresti ali glavnice enaka ali večja od 90 dni in je pri dolžniku prišlo do neplačila, kakor je opredeljeno v členu 178 Uredbe (EU) št. 575/2013 Evropskega parlamenta in Sveta [21], ali kadar obstajajo utemeljeni razlogi za dvom, da bo plačilo v celoti izvedeno;
The credit assessment of the guarantor for the purposes of such guarantees must comply with credit quality step 3 in the Eurosystem's harmonised rating scale over the life of the transaction;
„strukturirano posojilo“ pomeni strukturo, ki vključuje podrejena bančna posojila;
‘small enterprise’ and ‘medium-sized enterprise’ means an entity engaged in an economic activity, irrespective of its legal form, where the reported sales for the entity, or if the entity is a part of a consolidated group for the consolidated group, are less than EUR 50 million;
„sindicirano posojilo“ pomeni posojilo, ki ga da skupina posojilodajalcev v sindikatu za posojanje;
‘non-performing loan’ shall include loans where payment of interest or principal is past due by 90 or more days and the obligor is in default, as defined in Article 178 of Regulation (EU) No 575/2013 of the European Parliament and of the Council [21], or when there are good reasons to doubt that payment will be made in full;
„posojilo s finančnim vzvodom“ pomeni posojilo, ki se odobri družbi, ki ima že znatno stopnjo zadolženosti, na primer za financiranje odkupa ali prevzema, kadar se posojilo uporabi za nakup deleža v družbi, ki je hkrati dolžnik pri tem posojilu;
‘structured loan’ means a structure involving subordinated credit claims;
„določbe o neprekinjenosti servisiranja“ pomenijo določbe v pravni dokumentaciji listinjenega vrednostnega papirja, ki jih sestavljajo določbe o nadomestnem izvajalcu servisiranja ali določbe o iskalcu nadomestnega izvajalca servisiranja (če ni določb o nadomestnem izvajalcu servisiranja).
‘syndicated loan’ means a loan provided by a group of lenders in a lending syndicate;
V primeru določb o iskalcu nadomestnega izvajalca servisiranja je treba iskalca nadomestnega izvajalca servisiranja imenovati in ga pooblastiti, da najde primernega nadomestnega izvajalca servisiranja v 60 dneh od dogodka, ki sproži imenovanje iskalca, da se zagotovi pravočasno plačilo in servisiranje listinjenega vrednostnega papirja.
‘leveraged loan’ means a loan provided to a company that already has a considerable degree of indebtedness, such as buy-out or take-over-financing, where the loan is used for the acquisition of the equity of a company which is also the obligor of the loan;
Te določbe vključujejo tudi dogodke, ko se sproži postopek zamenjave izvajalca servisiranja in imenovanje nadomestnega izvajalca servisiranja.