natgillin/translations-raw huggingface dataset:
Given that derivatives are usually issued by credit institutions, and other entities referred to in Article 7(4) of Delegated Regulation (EU) 2015/61, the general prohibition to invest in assets issued by these entities laid down by that provision should not apply to the use of derivatives.
Ker izvedene finančne instrumente običajno izdajajo kreditne institucije in drugi subjekti iz člena 7(4) Delegirane uredbe (EU) 2015/61, splošna prepoved vlaganja v sredstva, ki jih izdajo ti subjekti, iz navedene določbe ne bi smela veljati za uporabo izvedenih finančnih instrumentov.
The Board should endeavour to hedge currency risk into a mix of the currencies of the Member States participating in the Fund on the basis of the financial capacity of the Fund and of the expected disbursements as determined by current information, assumptions and stress scenarios.
Odbor bi moral poskušati zagotoviti, da se pred valutnim tveganjem varuje v mešanici različnih valut držav članic, ki sodelujejo v skladu, in sicer na podlagi finančnih zmogljivosti sklada in pričakovanih izplačil, določenih na podlagi tekočih informacij, predpostavk in scenarijev izrednih okoliščin.
The extent of the hedging, and consequently of the remaining open currency exposure, should be calibrated in order to limit the foreign exchange risk for the Fund to the degree that is appropriate and compatible with its investment objectives.
Obseg varovanja pred tveganjem in posledično obseg preostalih odprtih izpostavljenosti valutam bi se moral natančno določiti, tako da se bo valutno tveganje za sklad omejilo do te mere, da bo primerno in skladno z njegovimi naložbenimi cilji.
With regard to risk management, the Board should make use of best practices and establish internal capacities and functions to give effect to them.
Kar zadeva obvladovanje tveganj, bi moral odbor upoštevati dobre prakse in zagotoviti notranje zmogljivosti in funkcije za njihovo izvajanje.
The adequate measurement of risk should be an essential element of that ongoing process.
Ustrezno merjenje tveganja bi moralo predstavljati bistven element tega neprekinjenega procesa.
While it is within the Board's prerogatives to decide on the implementation of investments, and therefore to outsource part of all of its investment tasks, any potential conflict with the prudent and safe behaviour that the Board should maintain and with its overall investment objectives should be avoided, in consideration of the public interest in the Fund's ability to fulfil its duties at all times.
Čeprav je odločanje o izvedbi naložb in s tem o oddaji dela ali vseh nalog v zvezi z določeno naložbo v zunanje izvajanje v pristojnosti odbora, bi se bilo treba izogibati vsem potencialnim odstopanjem od načela skrbnega in varnega ravnanja, ki bi se ga moral držati odbor, ter od njegovih splošnih naložbenih ciljev, tako da se bo upošteval javni interes v zvezi s sposobnostjo sklada, da ves čas izpolnjuje svoje poslanstvo.
Therefore, the Board should outsource investment tasks only to providers that are not profit-seeking undertakings.
Zato bi moral odbor naloge v zvezi z naložbami oddajati v zunanje izvajanje samo izvajalcem, ki so nepridobitni gospodarski subjekti.
This should not preclude service providers and the Board from contracting necessary services from other third parties for execution purposes.
To izvajalcem storitev in odboru ne bi smelo preprečevati, da za storitve, ki so potrebne za izvajanje njihovih nalog, najemajo druge tretje osebe.
Furthermore, the Board should maintain responsibility and oversight at all times irrespective of any outsourcing decision.
Poleg tega bi moral odbor ves čas ohranjati odgovornost in nadzor, ne glede na odločitve glede oddajanja v zunanje izvajanje.
When referring to the best business practices on outsourcing within the financial sector, the Board should, to the extent possible, take into account existing best practices, such as the Guidelines on Outsourcing of 14 December 2006 by the Committee of European Banking Supervisors.
V zvezi z dobrimi poslovnimi praksami glede oddajanja v zunanje izvajanje v finančnem sektorju bi moral odbor, kolikor je to mogoče, upoštevati obstoječe dobre prakse, kot so Smernice o oddajanju v zunanje izvajanje z dne 14. decembra 2006, ki jih je sprejel Odbor evropskih bančnih nadzornikov.
Until it is has adopted its first investment strategy, the Board should be allowed to give effect to Article 75(3) of Regulation (EU) No 806/2014 by virtue of deposits with central banks.
Dokler ne sprejme prve naložbene strategije, bi se moralo odboru dovoliti, da za potrebe izvajanja člena 75(3) Uredbe (EU) št. 806/2014 uporablja depozite pri centralnih bankah.
Similarly, it should be allowed to use estimates to determine the percentage limits on geographical concentration as laid down in this Regulation before the actual data to compute them becomes available.
Podobno bi bilo treba dovoliti uporabo ocen za določitev odstotkov omejitev za geografsko koncentracijo, predpisanih v tej uredbi, preden bodo na voljo dejanski podatki za njihov izračun.
Given the unique nature of the Fund, the general principles and criteria for its investment strategy and the rules for its management laid down in this Regulation may need to be reviewed relatively soon after their entry into force, once the Board has started applying them.
Glede na edinstveno naravo sklada bo morda treba pregledati splošna načela in merila za njegovo naložbeno strategijo ter pravila za njegovo upravljanje, ki jih določa ta uredba, razmeroma hitro po začetku njihove veljavnosti, potem ko jih bo odbor začel uporabljati.
To this end, the Board should provide the Commission with adequate information on the practical application of the new rules one year after the establishment of the Fund, subject to Article 99 of Regulation (EU) No 806/2014.
Za ta namen bi moral odbor Komisiji zagotoviti zadostne informacije o praktični uporabi novih pravil eno leto po ustanovitvi sklada ob upoštevanju člena 99 Uredbe (EU) št. 806/2014.
This Regulation should apply from 1 January 2016, when the Fund becomes operational pursuant to Regulation (EU) No 806/2014,
Ta uredba bi se morala uporabljati od 1. januarja 2016, ko bo sklad postal operativen v skladu z Uredbo (EU) št. 806/2014 –
This Regulation lays down rules concerning the investment by the Single Resolution Board (‘the Board’) of the amounts held in the Single Resolution Fund (‘the Fund’) referred to in Article 75(3) of Regulation (EU) No 806/2014.
Ta uredba določa pravila glede vlaganja sredstev enotnega sklada za reševanje (v nadaljnjem besedilu: sklad) s strani enotnega odbora za reševanje (v nadaljnjem besedilu: odbor) v skladu s členom 75(3) Uredbe (EU) št. 806/2014.
This Regulation does not apply to collateral of low-risk assets unencumbered by any third-party rights, at the free disposal of and earmarked for the exclusive use by the Board as referred to in Article 70(3) of Regulation (EU) No 806/2014.
Ta uredba se ne uporablja za zavarovanja s sredstvi z nizkim tveganjem, ki niso obremenjena z nobenimi pravicami tretjih oseb in so na voljo ter namenjena izključno uporabi s strani odbora, kot je določeno v členu 70(3) Uredbe (EU) št. 806/2014.
‘institutional sectors’ means institutional sectors as defined by paragraph 1.28 of Annex A to Council Regulation (EC) No 2223/96;
„institucionalni sektorji“ pomenijo institucionalne sektorje, kot so opredeljeni v odstavku 1.28 Priloge A k Uredbi (ES) št. 2223/96;
‘sectors of economic activity’ means sections set out in Annex I of Regulation (EC) No 1893/2006;
„sektorji gospodarske dejavnosti“ pomenijo oddelke v Prilogi I k Uredbi (ES) št. 1893/2006;
‘bodies governed by public law’ shall mean bodies governed by public law as defined in Article 1(9) of Directive 2004/18/EC of the European Parliament and of the Council [6];
„osebe javnega prava“ pomenijo osebe, ki jih ureja javno pravo, kot so opredeljene v členu 1(9) Direktive 2004/18/ES Evropskega parlamenta in Sveta [6];
‘ESCB central banks’ shall mean ECSB central banks as defined in Article 4(1)(45) of Regulation (EU) No 575/2013 of the European Parliament and of the Council [7].
„centralne banke ESCB“ pomenijo centralne banke ESCB, kot so opredeljene v členu 4(1)(45) Uredbe (EU) št. 575/2013 Evropskega parlamenta in Sveta [7].
Investment objectives
Naložbeni cilji
The Board shall conduct a prudent and safe investment strategy with the objective of protecting the value of the amounts held in the Fund and of satisfying the liquidity requirements of the Fund.
Odbor izvaja skrbno in varno naložbeno strategijo s ciljem ohranjanja vrednosti sredstev sklada in izpolnjevanja zahtev glede likvidnosti sklada.
The Board shall take into account both the financial capacity of the Fund and the expected disbursements according to the mission of the Fund as defined in Article 76 of Regulation (EU) No 806/2014.
Odbor upošteva finančne zmogljivosti sklada in pričakovana izplačila v skladu s poslanstvom sklada, kot je opredeljeno v členu 76 Uredbe (EU) št. 806/2014.
It shall take into account all available information and adequate assumptions and stress scenarios.
Upošteva vse razpoložljive informacije, ustrezne predpostavke in scenarije izrednih okoliščin.
The investment strategy shall include a definition of the risk appetite, quantifying the maximum tolerable potential loss over a defined time horizon with a defined probability.
Naložbena strategija vključuje opredelitev nagnjenosti k prevzemanju tveganj, pri čemer se kvantitativno določi najvišja dopustna potencialna izguba v določenem obdobju z določeno verjetnostjo.
The amounts referred to in Article 1(1) of this Regulation shall be invested all together as a single pool of resources, regardless of the division of the Fund into national compartments provided for in Article 77 of Regulation (EU) No 806/2014.
Sredstva iz člena 1(1) te uredbe se vsa vlagajo skupaj kot ena sama združena skupina sredstev, ne glede na razdelitev sklada na nacionalne razdelke v skladu s členom 77 Uredbe (EU) št. 806/2014.
Eligible assets for investment
Primerna sredstva za naložbe
The Board shall determine the eligibility of assets for investment on the basis of the general requirements for liquid assets of credit institutions laid down in Article 7(2), (4), (5) and (6), and in points (a) and (b) of Article 7(7) of Delegated Regulation (EU) 2015/61.
Odbor določi primernost sredstev za naložbe na podlagi splošnih zahtev za likvidna sredstva kreditnih institucij iz člena 7(2), (4), (5) in (6) ter točk (a) in (b) člena 7(7) Delegirane uredbe (EU) 2015/61.
The Board shall invest the amounts referred to in Article 1(1) exclusively in assets which meet the requirements established in Articles 10(1), 11(1), points (a) to (e) of Article 12(1) and Article 15(1) of Delegated Regulation (EU) 2015/61.
Odbor vlaga sredstva iz člena 1(1) izključno v sredstva, ki izpolnjujejo zahteve iz členov 10(1) in 11(1), točk (a) do (e) člena 12(1) in člena 15(1) Delegirane uredbe (EU) 2015/61.
The requirements for credit institutions laid down in the second sentence of Article 10(1)(d) and in point (iii) of Article 10(1)(f), point (iii) of Article 11(1)(c), point (v) of Article 11(1)(d) and point (ii) of Article 12(1)(e) of Delegated Regulation (EU) 2015/61 shall not apply to the Board.
Zahteve za kreditne institucije iz drugega stavka člena 10(1)(d) in iz točke (iii) člena 10(1)(f), točke (iii) člena 11(1)(c), točke (v) člena 11(1)(d) ter točke (ii) člena 12(1)(e) Delegirane uredbe (EU) 2015/61 se ne uporabljajo za odbor.
The Board shall conduct an appropriate assessment of an eligible asset before investing in it, including an evaluation of its liquidity and creditworthiness and of its compatibility with the investment objectives set out in Article 3.
Odbor izvede ustrezno oceno primernega sredstva, preden vloži vanj, vključno z oceno njegove likvidnosti in kreditne kakovosti ter njegove skladnosti z naložbenimi cilji iz člena 3.
In case any asset loses its eligibility, the Board shall progressively reduce the exposure of the Fund to that given asset.
Če določeno sredstvo ni več primerno za naložbe, odbor postopoma zmanjša izpostavljenost sklada do takega sredstva.
Without prejudice to Article 3, the Board shall do so within a timeframe and in a manner that minimise any impact on market prices.
Odbor brez poseganja v člen 3 to stori v roku in na način, ki v čim večji meri omejita učinek na tržne cene.
Composition of the portfolio
Sestava portfelja
The Board shall comply with the following requirements on the composition of the Fund's portfolio:
Odbor v zvezi s sestavo portfelja sklada izpolnjuje naslednje zahteve:
a minimum of 60 % of the portfolio shall be composed of assets which meet the requirements established in Article 10(1) of Delegated Regulation (EU) 2015/61;
najmanj 60 % portfelja sestavljajo sredstva, ki izpolnjujejo zahteve iz člena 10(1) Delegirane uredbe (EU) 2015/61;
a minimum of 30 % of the portfolio shall be composed of assets which meet the requirements established in points (a) to (e) and (g) of Article 10(1) of Delegated Regulation (EU) 2015/61;
najmanj 30 % portfelja sestavljajo sredstva, ki izpolnjujejo zahteve iz točk (a) do (e) in (g) člena 10(1) Delegirane uredbe (EU) 2015/61;
a maximum of 15 % of the portfolio shall be held in assets which meet the requirements established in points (a) to (e) of Article 12(1) of Delegated Regulation (EU) 2015/61.
največ 15 % portfelja sestavljajo sredstva, ki izpolnjujejo zahteve iz točk (a) do (e) člena 12(1) Delegirane uredbe (EU) 2015/61.
For the purposes of paragraph 1, assets which meet the requirements established in Article 15(1) of Delegated Regulation (EU) 2015/61 shall be treated equivalently to the assets underlying the relevant undertaking.
Za namene odstavka 1 se sredstva, ki izpolnjujejo zahteve iz člena 15(1) Delegirane uredbe (EU) 2015/61, obravnavajo enakovredno kot sredstva, na katerih temelji zadevni subjekt.
Sectorial diversification
Sektorska razpršenost
Investments of the amounts held in the Fund shall be sufficiently diversified across sectors.
Naložbe sredstev sklada so v zadostni meri razpršene po sektorjih.
The Board shall limit exposures to individual institutional sectors and to individual sectors of economic activity.
Odbor omeji izpostavljenosti do posameznih institucionalnih sektorjev in do posameznih sektorjev gospodarske dejavnosti.
The Board shall take into account that correlations between sectors of economic activity may reduce the actual diversification achieved by application of paragraph 2.
Odbor upošteva dejstvo, da lahko medsebojne povezave med sektorji gospodarske dejavnosti zmanjšajo dejansko razpršenost, doseženo z uporabo drugega odstavka.
In addition to the requirements of Article 4(1) of this Regulation, the Board shall also limit indirect exposures to the issuers set out in Article 7(4) of Delegated Regulation (EU) 2015/61.
Poleg zahtev iz člena 4(1) te uredbe odbor omeji tudi posredne izpostavljenosti do izdajateljev iz člena 7(4) Delegirane uredbe (EU) 2015/61.
Geographical diversification
Geografska razpršenost
Investments of the amounts held in the Fund shall be geographically diversified, taking into account the structure and composition of any expenditure of the Fund estimated in Part II of the Board's budget pursuant to Article 60 of Regulation (EU) No 806/2014.
Naložbe sredstev sklada so geografsko razpršene, pri čemer se upoštevata struktura in sestava vseh odhodkov sklada, ocenjenih v delu II proračuna odbora v skladu s členom 60 Uredbe (EU) št. 806/2014.
The exposures to eligible assets specified in Article 4 from issuers established in a given participating Member State, as a share of the total exposures of the Fund, shall not represent more than 1,2 times the share of ex ante contributions raised in accordance with Article 70 of Regulation (EU) No 806/2014 from the institutions authorised in the corresponding Member State.
Izpostavljenosti do primernih sredstev iz člena 4, ki jih izdajo izdajatelji s sedežem v določeni sodelujoči državi članici, kot delež skupnih izpostavljenosti sklada ne smejo predstavljati več kot 1,2-kratnik deleža prehodnih prispevkov, prejetih v skladu s členom 70 Uredbe (EU) št. 806/2014 od institucij z dovoljenjem v zadevni državi članici.
The exposures to eligible assets specified in Article 4 from issuers established in a given non-participating Member State or in a given third country, expressed as a share of the total exposures of the Fund, shall be sufficiently geographically diversified, taking into account criteria such as the size of the economy, the depth and liquidity of the financial market and the additional investment opportunities, including in terms of risk diversification.
Izpostavljenosti do primernih sredstev iz člena 4, ki jih izdajo izdajatelji s sedežem v določeni nesodelujoči državi članici ali določeni tretji državi, izražene kot delež skupnih izpostavljenosti sklada, so v zadostni meri geografsko razpršene, pri čemer se upoštevajo merila, kot so velikost gospodarstva, globina in likvidnost finančnih trgov ter dodatne naložbene priložnosti, vključno v smislu razpršenosti tveganj.
That exposure shall not exceed in any case the highest limit established by paragraph 2.
Navedena izpostavljenost v nobenem primeru ne sme presegati zgornje meje iz drugega odstavka.
Diversification by issuer and issue
Razpršenost po izdajateljih in izdajah
The Board shall set a ceiling of up to 30 % of any single issue in which amounts held in the Fund may be invested.
Odbor določi zgornjo mejo v višini 30 % za vsako posamezno izdajo, v katero se lahko vložijo sredstva sklada.
That ceiling maybe exceeded only where, given the nature of the investment, the purchase of any amount of a security of that given investment results in ownership of 100 % of the corresponding International Securities Identification Number (ISIN).
Navedena zgornja meja se lahko prekorači samo, če zaradi narave naložbe nakup vrednostnega papirja navedene naložbe, ne glede na njegov znesek, privede do 100-odstotnega lastništva v zadevni mednarodni identifikacijski številki vrednostnega papirja (koda ISIN).
The Board shall set a ceiling of up to 30 % for any issuer's total issues in which amounts held in the Fund may be invested.
Odbor določi zgornjo mejo v višini 30 % za skupni obseg vseh izdaj posameznega izdajatelja, v katere se lahko vložijo sredstva sklada.
Additional criteria on diversification
Dodatna merila glede razpršenosti
Without prejudice to Article 3, the Board shall endeavour to diversify investments across maturities.
Odbor si brez poseganja v člen 3 prizadeva zagotoviti razpršenost naložb glede na zapadlost.
When deciding on diversification, the Board shall take into account the elements laid down in Article 3(1) of this Regulation and, when relevant, the liquidity and other characteristics of the collateral referred to in Article 70(3) of Regulation (EU) No 806/2014.
Kadar sprejema odločitve v zvezi z razpršenostjo, odbor upošteva elemente iz člena 3(1) te uredbe in, če je relevantno, likvidnostne in druge značilnosti zavarovanja s premoženjem, omenjenega v členu 70(3) Uredbe (EU) št. 806/2014.
The Board shall only use derivatives for risk management purposes, including managing market risk and liquidity risk.
Odbor uporablja izvedene finančne instrumente samo za namene obvladovanja tveganj, vključno z obvladovanjem tržnega in likvidnostnega tveganja.
The Board may adopt guidelines to specify the eligible uses of derivatives.
Odbor lahko sprejme smernice za opredelitev primerne uporabe izvedenih finančnih instrumentov.
The Board shall only use derivatives cleared by:
Odbor uporablja samo izvedene finančne instrumente, za katere opravlja kliring:
a central counterparty authorised under Article 14 or 15 of Regulation (EU) No 648/2012 or recognised under Article 25 thereof; or
centralna nasprotna stranka, ki ima dovoljenje v skladu s členom 14 ali 15 Uredbe (EU) št. 648/2012 ali je priznana v skladu s členom 25 navedene uredbe, ali
a central bank, provided that exposures to that central bank or its central government are assigned a credit assessment by a nominated external credit assessment institution (ECAI) which is at least credit quality step 1 in accordance with Article 114(2) of Regulation (EU) No 575/2013.
centralna banka, če imajo izpostavljenosti do navedene centralne banke ali njene centralne ravni države bonitetno oceno, ki jo je izdala imenovana zunanja bonitetna agencija (ECAI), stopnje kreditne kakovosti vsaj 1 v skladu s členom 114(2) Uredbe (EU) št. 575/2013.
The requirement laid down in Article 7(4) of Delegated Regulation (EU) 2015/61 shall not apply to the use of derivatives by the Board pursuant to this Article.
Zahteva iz člena 7(4) Delegirane uredbe (EU) 2015/61 ne velja za uporabo izvedenih finančnih instrumentov s strani odbora v skladu s tem členom.
The Board shall hedge currency risk into euro or into currencies of participating Member States whose currency is not the euro in order to ensure a limited remaining foreign exchange risk for the Fund.
Odbor zagotavlja varovanje pred valutnim tveganjem v euru ali valutah sodelujočih držav članic, katerih valuta ni euro, da zagotovi, da je preostalo valutno tveganje, ki mu je izpostavljen sklad, nizko.
Where applicable, in order to manage the currency risk between the different currencies referred to in paragraph 1, the Board shall take into account the elements laid down in Article 3(1).
Kjer je ustrezno, odbor pri obvladovanju valutnega tveganja med različnimi valutami iz prvega odstavka upošteva elemente, določene v členu 3(1).
Additional general principles
Dodatna splošna načela
For all investment decisions, the Board shall take into account the possible repercussions on the Fund's creditworthiness in order to safeguard the Board's prerogatives with respect to both alternative funding means, as established by Article 73 of Regulation (EU) No 806/2014, and to access to financial arrangements regarding the immediate availability of additional financial means, as established by Article 74 thereof.
Odbor pri vseh naložbenih odločitvah upošteva morebitne posledice za kreditno kakovost sklada, da ohrani pristojnosti v zvezi z alternativnimi načini financiranja iz člena 73 Uredbe (EU) št. 806/2014 in dostopom do finančnih ureditev za potrebe takojšnje razpoložljivosti dodatnih finančnih sredstev v skladu s členom 74 navedene uredbe.
Without prejudice to Article 3, the Board shall conduct all transactions related to the investment of the Fund in a manner that limits any effects on market prices, even in situations of market stress.
Odbor brez poseganja v člen 3 vse posle v zvezi z naložbami sklada izvaja na način, ki omejuje učinek na tržne cene, tudi v času izrednih razmer na trgu.
As an immediate investment or divestment of the amounts referred to in Article 1(1) might lead to market impacts, the Board may tolerate some temporary divergence with the general principles and criteria for the investment strategy of the Fund.
Ker lahko takojšnja naložba ali odprodaja naložbe, v katero so se vložila sredstva iz člena 1(1), privede do učinkov na trgu, lahko odbor dovoli določeno začasno odstopanje od splošnih načel in meril za naložbeno strategijo sklada.
Review of the strategy
Pregled strategije
The Board shall review the investment strategy every year.
Odbor vsako leto pregleda naložbeno strategijo.
The Board shall adopt a governance framework, including an allocation of tasks and responsibilities and necessary delegations, to ensure an efficient implementation of the investment strategy.
Odbor sprejme strategijo upravljanja, vključno z dodelitvijo nalog in odgovornosti ter potrebnimi prenosi pooblastil, da zagotovi učinkovito izvajanje naložbene strategije.
The Board shall adopt internal control standards to verify compliance between the implementation of the investment strategy, the investment strategy and the rules set out in this Regulation.
Odbor sprejme standarde notranjega nadzora za preverjanje skladnosti med izvajanjem naložbene strategije, naložbeno strategijo in pravili, določenimi v tej uredbi.
The executive session of the Board shall keep the plenary session informed of the results of the implementation of the investment strategy.
Izvršno telo odbora obvešča plenarno telo odbora o rezultatih izvajanja naložbene strategije.