natgillin/translations-raw huggingface dataset:
In a pooling system, the counterparty may at any time provide the correspondent central bank with marketable assets for the account of the home NCB.
Preostala zapadlost (leta) [2]
Once the home NCB has been informed by the correspondent central bank that the marketable assets have been received, it will add these marketable assets to the pool account of the counterparty.
Kategorija II [1]
A further ad-hoc variant based on the charge in favour of the correspondent central bank acting as the agent for the home NCB is applied to allow the cross-border use of RMBDs.
Stopnje odbitkov pri vrednotenju, ki se uporabljajo za bančna posojila s fiksno obrestno mero
The CCBM is available to counterparties, both for marketable and non-marketable assets, as a minimum from 9 a.m. to 4 p.m.
Metoda vrednotenja
CET on each TARGET2 business day.
Preostala zapadlost (leta) [3]
A counterparty wishing to make use of the CCBM must advise the NCB from which it wishes to receive credit, i.e. its home NCB, before 4 p.m.
Plačilo po fiksni obrestni meri in vrednotenje po teoretični ceni, ki jo določi nacionalna centralna banka (NCB)
CET.
Plačilo po fiksni obrestni meri in vrednotenje glede na neodplačano vrednost glavnice posojila, ki jo določi NCB
The counterparty must ensure that the collateral for securing the credit operation is delivered to the account of the correspondent central bank by 4.45 p.m.
Plačilo po fiksni obrestni meri in vrednotenje po teoretični ceni, ki jo določi NCB
Instructions or deliveries that do not respect this deadline will only be dealt with on a best effort basis and may be considered for credit that will be given on the following TARGET2 business day.
„[0, 1)“ pomeni, da je preostala zapadlost manj kot eno leto; „[1, 3)“ pomeni, da je preostala zapadlost eno leto ali več in manj kot tri leta; „[3, 5)“ pomeni, da je preostala zapadlost tri leta ali več in manj kot pet let, itd.
When counterparties foresee a need to use the CCBM late in the day, they should, where possible, pre-deposit the assets.
PRILOGA XI
Under exceptional circumstances or when required for monetary policy purposes, the ECB may decide to extend the CCBM's closing time until the TARGET2 closing time, in cooperation with central securities depositories regarding their availability to extend their cut-off times for marketable assets.
OBLIKE VREDNOSTNIH PAPIRJEV
ELIGIBLE LINKS BETWEEN SSSS
Naslednja tabela povzema pravila glede primernosti za različne oblike vrednostnih papirjev po uvedbi kriterijev glede novih zbirnih listin.
Links between securities settlement systems
Pravila glede primernosti za različne oblike vrednostnih papirjev
Use of eligible assets issued in the SSS of country B held by a counterparty established in country A through a link between the SSSs in countries A and B in order to obtain credit from the NCB of country A.
Zbiren/posamičen
SSS B
Prinosniški/imenski
SSS A holds assets on an omnibus account in SSS B
Nova zbirna listina/klasična zbirna listina
CCBM IN COMBINATION WITH ELIGIBLE LINKS
Ne, ampak bodo tisti vrednostni papirji, ki so bili izdani pred 1. januarjem 2007, ostali primerni do zapadlosti, prav tako tudi povečanja obstoječih izdaj po 1. januarju 2007, kadar so kode ISIN zamenljive.
Use of eligible assets issued in the SSS of country C and held in the SSS of country B by a counterparty established in country A through a direct link between the SSSs in countries B and C in order to obtain credit from the NCB of country A.
Imenski
SSS B holds assets on an omnibus account in SSS C
Obveznice, izdane v tej strukturi po 30. septembru 2010, niso več primerne.
SSS C
Nova struktura hrambe
Country C
Posamičen
Where eligible assets in the form of securities are to be transferred via the CCBM with links, counterparties must ensure that the securities are delivered to an account at the relevant investor SSS by 4 p.m.
Posamične prinosniške listine, izdane do vključno 30. septembra 2010, ostanejo primerne do zapadlosti.
CET on the settlement date in order to ensure settlement of same-day value operations.
Ali, kjer bi to prišlo v poštev, v pozitivno ocenjeni centralni depotni družbi vrednostnih papirjev.
Any request for mobilisation received by home NCBs from their counterparties after 4 p.m.
PRILOGA XII
CET, or any request for the delivery of eligible assets to an account at the relevant investor SSS after 4 p.m.
PRIMERI OPERACIJ IN POSTOPKOV DENARNE POLITIKE EUROSISTEMA
CET, is dealt with on a best efforts basis, according to the cut-off times of the SSSs involved.
Seznam primerov
CCBM WITH TRI-PARTY COLLATERAL MANAGEMENT SERVICES
Primer 1 Povratna transakcija za povečevanje likvidnosti na podlagi avkcije s fiksno mero
Cross-border tri-party services
Primer 2 Povratna transakcija za povečevanje likvidnosti na podlagi avkcije z variabilno mero
Use of eligible assets held in the tri-party agent (TPA) of country B by a counterparty established in country A in order to obtain credit from the NCB of country A.
Primer 3 Izdaja dolžniških certifikatov Evropske centralne banke (ECB) na podlagi avkcije z variabilno mero
Credit Transfer instructions
Primer 4 Valutna zamenjava za umikanje likvidnosti na podlagi avkcije z variabilno mero
TPA
Primer 5 Valutna zamenjava za povečevanje likvidnosti na podlagi avkcije z variabilno mero
The arrow ‘Information on collateral’ between counterparty A and NCB A may not be relevant in the case of certain TPAs, depending on the contractual model chosen, and in such cases the counterparty does not send an instruction to NCB A or receive a confirmation from NCB A.
Primer 6 Ukrepi za obvladovanje tveganj
ANNEX VII
I. PRIMER 1: POVRATNA TRANSAKCIJA ZA POVEČEVANJE LIKVIDNOSTI NA PODLAGI AVKCIJE S FIKSNO MERO
CALCULATION OF SANCTIONS TO BE APPLIED IN ACCORDANCE WITH PART FIVE
ECB se odloči, da bo povečala likvidnost na trgu s povratno transakcijo na podlagi avkcijskega postopka s fiksno mero.
I. CALCULATION OF FINANCIAL PENALTIES FOR BREACH OF CERTAIN COUNTERPARTY OBLIGATIONS
Tri nasprotne stranke predložijo naslednje protiponudbe:
Where a financial penalty is to be imposed by a national central bank(NCB) on any of its counterparties in accordance with Part Five, the NCB shall calculate the penalty in accordance with a pre-specified penalty rate, as follows.
Nasprotna stranka
For failure to comply with an obligation referred to in Article 154(1)(a), (b) or (c) a financial penalty is calculated using the marginal lending facility rate that applied on the day when the non-compliance began plus 2,5 percentage points.
Protiponudba (v milijonih EUR)
For failure to comply with an obligation referred to in Article 154(1)(d), a financial penalty is calculated using the marginal lending facility rate that applied on the day when the non-compliance began plus 5 percentage points.
Banka 1
For repeated infringements of the obligation referred to in Article 154(1)(d) within a 12-month period, taken into account from the day of the first infringement, the penalty rate increases by a further 2,5 percentage points for each infringement.
Banka 2
For failure to comply with an obligation referred to in Article 154(1)(a) or (b), a financial penalty is calculated by applying the penalty rate, in accordance with paragraph 1(a), to the amount of collateral or cash that the counterparty could not deliver or settle, multiplied by the coefficient X/360, where X is the number of calendar days, with a maximum of seven, during which the counterparty was unable to collateralise or settle: (a) the allotted amount as specified in the certification of individual tender allotment results during the maturity of an operation; or (b) the remaining amount of a particular operation if there are early terminations executed by the NCB over the remainder of the term of the operation.
Banka 3
For failure to comply with an obligation referred to in Article 154(1)(c), a financial penalty is calculated by applying the penalty rate, in accordance with paragraph 1(a), to the value of the ineligible assets or the assets that may not be mobilised or used by the counterparty after haircuts, as follows:
Skupaj
in the case of ineligible assets which are provided by the counterparty to an NCB, the value of the ineligible assets after haircuts are taken into account; or
ECB odloči za dodelitev zneska 105 milijonov EUR.
in the case of assets which were originally eligible but became ineligible or may no longer be mobilised or used by the counterparty, the value after haircuts of the assets that have not been removed by or before the start of the eighth calendar day, following an event after which the eligible assets became ineligible or may no longer be mobilised or used by the counterparty, are taken into account.
Dodelitev nasprotnim strankam je naslednja:
The amounts referred to in paragraph 3(a) and (b) are multiplied by the coefficient X/360, where X is the number of calendar days, with a maximum of seven, during which the counterparty failed to comply with its obligations in respect of the use of assets submitted as collateral for Eurosystem credit operations.
Dodelitev (v milijonih EUR)
In the case of paragraph 3(b), the calculation of X begins after the expiry of the grace period of seven calendar days.
PRIMER 2: POVRATNA TRANSAKCIJA ZA POVEČEVANJE LIKVIDNOSTI NA PODLAGI AVKCIJE Z VARIABILNO MERO
[EUR [value of ineligible assets after haircuts on the first day of the infringement] * (the applicable marginal lending facility rate on the day when the infringement began + 2,5 %) * [X]/360 = EUR […]]
ECB se odloči, da bo povečala likvidnost na trgu s povratno transakcijo na podlagi avkcijskega postopka z variabilno mero.
For limit breaches as regards unsecured debt instruments issued by a credit institution or its closely linked entities as laid down in Article 141, the application of a grace period is determined as follows:
Znesek (v milijonih EUR)
A grace period of seven calendar days applies if the breach resulted from a change in the valuation, without a submission of additional such unsecured debt instruments, on the basis of the following:
Obrestna mera (%)
the value of those already submitted unsecured debt instruments has increased; or
Skupaj protiponudbe
the total collateral pool has been lowered.
Protiponudbe kumulativno
In such cases the counterparty is required to adjust the value of its total collateral pool or the value of such unsecured debt instruments within the grace period, to ensure compliance with the applicable limit.
ECB se odloči dodeliti 94 milijonov EUR, z mejno obrestno mero v višini 3,05 %.
The submission of additional unsecured debt instruments issued by a credit institution or its closely linked entities breaching the applicable limit does not entitle the counterparty to a grace period.
Vse protiponudbe nad 3.05 % (v kumulativnem znesku 80 milijonov EUR) se sprejmejo v celoti.
If the counterparty has provided information that affects the value of its collateral negatively from the Eurosystem's perspective with regard to Article 145(4), e.g. incorrect information on the outstanding amount of a used credit claim that is or has been false or out of date, the amount (value) of the collateral that has been negatively affected is taken into account for the calculation of the financial penalty under paragraph 3.
Pri 3,05 % je odstotek dodelitve:
If the incorrect information is corrected within the grace period, no penalty is to be applied.
Dodelitev banki 1 po mejni obrestni meri je na primer:
For failure to comply with the obligations referred to in Article 154(1)(d), a financial penalty is calculated by applying the penalty rate, in accordance with paragraph 1(b), to the amount of the counterparty's unauthorised access to the marginal lending facility.
Skupna dodelitev banki 1 je:
An NCB will impose a minimum financial penalty of EUR 500 where the calculation in accordance with this Annex results in an amount of less than EUR 500.
Rezultati dodelitve se lahko povzamejo na naslednji način:
A financial penalty will not be imposed where a breach is rectified within an applicable grace period.
Nasprotne stranke
CALCULATION OF NON-FINANCIAL PENALTIES IN CASE OF BREACH OF CERTAIN COUNTERPARTY OBLIGATIONS
Skupaj dodelitev
Suspension for non-compliance with obligations referred to in Article 154(1)(a) or (b)
Če se postopek dodelitve izvaja na podlagi avkcije z enotno mero (avkcija nizozemskega tipa), je obrestna mera za vse zneske, dodeljene nasprotnim strankam, enaka 3,05 %.
Where a suspension period applies in accordance with Article 156(1), an NCB will impose the suspension in accordance with the following:
Če se postopek dodelitve izvaja na podlagi avkcije z različnimi merami (avkcija ameriškega tipa), se za zneske, dodeljene nasprotnim strankam, ne uporabi enotna obrestna mera; na primer, banka 1 prejme 5 milijonov EUR po 3,07 %, 5 milijonov EUR po 3,06 % in 4 milijone EUR po 3,05 %.
if the amount of non-delivered collateral or cash is up to 40 % of the total collateral or cash to be delivered, a suspension of one month applies;
PRIMER 3: IZDAJA DOLŽNIŠKIH CERTIFIKATOV ECB NA PODLAGI AVKCIJE Z VARIABILNO MERO
if the amount of non-delivered collateral or cash is between 40 % and 80 % of the total collateral or cash to be delivered, a suspension of two months applies;
ECB se odloči umakniti likvidnost s trga z izdajo dolžniških certifikatov na podlagi avkcijskega postopka z variabilno mero.
if the amount of non-delivered collateral or cash is between 80 % and 100 % of the total collateral or cash to be delivered, a suspension of three months applies.
ECB se odloči dodeliti nominalni znesek v višini 124,5 milijona EUR, z mejno obrestno mero v višini 3,05 %.
With regard to I and II above, if a sanction relates to a transaction between a counterparty and the ECB in a bilateral procedure, the above provisions are interpreted to cater for the imposition of sanctions by the ECB.
Vse protiponudbe pod 3,05 % (v kumulativnem znesku 65 milijonov EUR) se sprejmejo v celoti.
ANNEX VIII
PRIMER 4: VALUTNA ZAMENJAVA ZA UMIKANJE LIKVIDNOSTI NA PODLAGI AVKCIJE Z VARIABILNO MERO
LOAN-LEVEL DATA REPORTING REQUIREMENTS FOR ASSET-BACKED SECURITIES
ECB se odloči umakniti likvidnost s trga z izvedbo valutne zamenjave eura proti ameriškemu dolarju na podlagi avkcijskega postopka z variabilno mero.
This Annex applies to the provision of comprehensive and standardised loan-level data on the pool of cash-flow generating assets backing the asset-backed securities (ABSs), as specified in Article 78.
(Opomba: euro je v tem primeru valuta s premijo.)
I. SUBMISSION OF LOAN-LEVEL DATA
Swap točke (× 10000)
Loan-level data must be submitted by the relevant parties to a loan-level data repository designated by the Eurosystem.
ECB se odloči dodeliti 158 milijonov EUR, z mejnimi swap točkami v višini 6,63.
The loan-level data repository publishes such data electronically.
Vse protiponudbe nad 6,63 (v kumulativnem znesku 65 milijonov EUR) se v celoti sprejmejo.
In order to be designated, loan-level data repositories must comply with the applicable Eurosystem requirements, including open access, coverage, non-discrimination, appropriate governance structure and transparency.
Pri 6,63 je odstotek dodelitve:
Loan-level data must be submitted for each individual transaction together with the up-to-date relevant loan-level data reporting template, published on the ECB's website, depending on the type of asset backing the ABS, as defined in Article 73(1).
Dodelitev banki 1 po mejnih swap točkah je na primer:
Loan-level data must be reported at least on a quarterly basis, but no later than one month following a due date for the payment of interest on the relevant ABSs.
ECB za operacijo fiksira promptni devizni tečaj EUR/USD pri 1,1300.
As regards the data submitted, the pool cut-off date may not be more than two months old, i.e. the ‘date of submission of report’ less the ‘pool cut-off date’ must be less than two months.
Če se postopek dodelitve izvaja na podlagi avkcije z enotno mero (avkcija nizozemskega tipa), Eurosistem na datum začetka operacije kupi 158000000 EUR in proda 178540000 USD.
The ‘pool cut-off date’ is defined as the date on which a snapshot of the performance of the underlying assets was captured for the respective report.
Na datum zapadlosti operacije Eurosistem proda 158000000 EUR in kupi 178644754 USD (terminski devizni tečaj je 1,130663 = 1,1300 + 0,000663).
To ensure compliance with the requirements in paragraphs 2 and 3, the loan-level data repository conducts automated consistency and accuracy checks on reports of new and updated loan-level data for each transaction.
Če se postopek dodelitve izvaja na podlagi avkcije z različnimi merami (avkcija ameriškega tipa), Eurosistem zamenja zneske v eurih in ameriških dolarjih, kakor je prikazano v spodnji tabeli:
LEVEL OF REQUIRED DETAIL
Promptna transakcija
After the date of application of loan-level data reporting requirements for the specific class of cash-flow generating assets backing the ABSs as specified on the European Central Bank's (ECB's) website, detailed loan-by-loan level information must be provided for ABSs to become or remain eligible.
Terminska transakcija
Within a period of three months, the ABSs must achieve a compulsory minimum compliance level, assessed by reference to the availability of information, in particular the data fields of the loan-level data reporting template.
Devizni tečaj
To capture non-available fields, a set of six ‘no data’ (ND) options are included in the loan-level data templates and must be filled in whenever particular data cannot be submitted in accordance with the loan-level data template.
Nakup EUR
There is also a seventh ND option, which only applies for the loan-level data template for commercial mortgage-backed securities (CMBSs).
Prodaja USD
Explanation of the ND options
Prodaja EUR
‘no data’ options
Nakup USD
Explanation
V. PRIMER 5: VALUTNA ZAMENJAVA ZA POVEČEVANJE LIKVIDNOSTI NA PODLAGI AVKCIJE Z VARIABILNO MERO
Data not collected as not required by the underwriting criteria
ECB se odloči povečati likvidnost na trgu z izvedbo valutne zamenjave eura proti ameriškemu dolarju na podlagi avkcijskega postopka z variabilno mero.
Data collected on application but not loaded into the reporting system on completion
ECB se odloči dodeliti 197 milijonov EUR, z mejnimi swap točkami v višini 6,54.
Data collected on application but loaded it on a separate system from the reporting one
Vse protiponudbe pod 6,54 (v kumulativnem znesku 195 milijonov EUR) se v celoti sprejmejo.
Data collected but will only be available from YYYY-MM
Pri 6,54 je odstotek dodelitve:
Not relevant
Če se postopek dodelitve izvaja na podlagi avkcije z enotno mero (avkcija nizozemskega tipa), Eurosistem na datum začetka operacije proda 197000000 EUR in kupi 222610000 USD.
Not applicable for the jurisdiction
Na datum zapadlosti operacije Eurosistem kupi 197000000 EUR in proda 222738838 USD (terminski devizni tečaj je 1,130654 = 1,1300 + 0,000654).
Only for CMBS loans with a value below EUR 500000, i.e. the value of the whole commercial loan balance at origination
Terminska transakcija*
TRANSITIONAL PERIOD
PRIMER 6: UKREPI ZA OBVLADOVANJE TVEGANJ
The following nine-month transitional period applies to all ABSs, depending on the date on which the loan-level data reporting requirements apply for the relevant asset class backing the ABSs:
Ta primer prikazuje okvir za obvladovanje tveganj, ki se uporablja za finančno premoženje, mobilizirano kot zavarovanje pri kreditnih poslih Eurosistema.
during the first three months (first quarter) following the date of application, loan-level data must be reported, but there are no specific limits regarding the number of mandatory fields containing ND1 to ND7;
Primer temelji na predpostavki, da se pri izračunu potrebe po pozivu h kritju upoštevajo obračunane obresti na zagotovljeno likvidnost in da znaša prag za poziv h kritju 0,5 % zagotovljene likvidnosti.
from the beginning of the fourth month to the end of the sixth month (second quarter), the number of mandatory fields that contain ND1 may not exceed 30 % of the total number of mandatory fields and the number of mandatory fields which contain ND2, ND3 or ND4 may not exceed 40 % of the total number of mandatory fields;
Primer temelji na predpostavki, da nasprotna stranka sodeluje pri naslednjih operacijah denarne politike Eurosistema:
from the beginning of the seventh month to the end of the ninth month (third quarter) the number of mandatory fields that contain ND1 may not exceed 10 % of the total number of mandatory fields and the number of mandatory fields which contain ND2, ND3 or ND4 may not exceed 20 % of the total number of mandatory fields;
pri operaciji glavnega refinanciranja, ki se začne 30. julija 2014 in konča 6. avgusta 2014, kjer se nasprotni stranki dodeli 50 milijonov EUR po obrestni meri 0,15 %;
at the end of the nine-month transitional period, there must be no mandatory fields in the loan-level data containing ND1, ND2, ND3 or ND4 values for an individual transaction.
pri operaciji dolgoročnejšega refinanciranja, ki se začne 31. julija 2014 in konča 23. oktobra 2014, kjer se nasprotni stranki dodeli 45 milijonov EUR po obrestni meri 0,15 %;
Applying these thresholds, the loan-level data repository generates and assigns a score to each ABS transaction upon submission and processing of loan-level data.
pri operaciji glavnega refinanciranja, ki se začne 6. avgusta 2014 in konča 13. avgusta 2014, kjer se nasprotni stranki dodeli 35 milijonov EUR po obrestni meri 0,15 %.
This score reflects the number of mandatory fields that contain ND1 and the number of mandatory fields that contain ND2, ND3 or ND4, compared in each case against the total number of mandatory fields.
Značilnosti tržnega finančnega premoženja, ki ga nasprotna stranka mobilizira za kritje teh operacij, so navedene v tabeli 1.
In this regard, the options ND5, ND6 and ND7 may only be used if the relevant data fields in the relevant loan-level data reporting template so permit.
Tržno finančno premoženje, mobilizirano v transakcijah
Combining the two threshold references produces the following range of loan-level data scores.
Značilnosti
Loan-level data scores
Ime
Scoring value matrix
Kategorija finančnega premoženja
fields
Datum zapadlosti
According to the transitional period set out above, the score must gradually improve for each quarter, in accordance with the following overview:
Opredelitev kupona
Scoring value
Frekvenca kupona
Timeline
Preostala zapadlost
Scoring value (eligibility treatment)
Odbitek
first quarter
Fiksen
(no minimum scoring value enforced)
6 mesecev
second quarter
4 leta
C3 (as a minimum)
Finančno premoženje B
B2 (as a minimum)
Variabilen
from the fourth quarter onwards
12 mesecev
ANNEX IX
Finančno premoženje C
EUROSYSTEM CREDIT ASSESSMENT FRAMEWORK PERFORMANCE MONITORING PROCESS
Podjetniške obveznice
For each credit assessment system, the Eurosystem credit assessment framework (ECAF) performance monitoring process consists of an annual ex post comparison of:
Brezkuponski
the observed default rates for all eligible entities and debt instruments rated by the credit assessment system, whereby these entities and instruments are grouped into static pools based on certain characteristics, e.g. credit rating, asset class, industry sector, credit quality assessment model; and
> 10 let
The credit assessment system provider updates the performance data for the entities and debt instruments on the list.
Okvir za obvladovanje tveganj se lahko opiše na naslednji način (glej tudi tabelo 2 spodaj):
The Eurosystem reserves the right to request any additional information required in order to conduct performance monitoring.
Dne 30. julija 2014 nasprotna stranka začne transakcijo začasne prodaje z NCB, ki odkupi 50,6 milijona EUR finančnega premoženja A. Finančno premoženje A je „jumbo“ krita bančna obveznica s fiksnim kuponom, ki zapade v plačilo 30. avgusta 2018 in ima stopnjo kreditne kvalitete 1-2.
The observed default rate of the static pools of a credit assessment system recorded over a one-year horizon is input to the ECAF performance monitoring process, which comprises an annual rule and a multi-period assessment.
Torej ima preostalo zapadlost štiri leta, kar pomeni odbitek pri vrednotenju v višini 2,5 %.