natgillin/translations-raw huggingface dataset:
with regard to a securitisation notified as STS in accordance with Article 27, the compliance of that securitisation with the requirements provided for in Articles 19 to 22 or in Articles 23 to 26, and Article 27.
svojim pristojnim organom na zahtevo dokazati, da podrobno in temeljito pozna pozicijo v listinjenju in njene osnovne izpostavljenosti ter da je uvedel pisna pravila in postopke za upravljanje tveganj v zvezi s pozicijami v listinjenju ter za hranjenje podatkov o preverjanjih in skrbnemu pregledu v skladu z odstavkoma 1 in 2 ter vseh drugih relevantnih informacij; ter
Institutional investors may rely to an appropriate extent on the STS notification pursuant to Article 27(1) and on the information disclosed by the originator, sponsor and SSPE on the compliance with the STS requirements, without solely or mechanistically relying on that notification or information.
v primeru izpostavljenosti iz naslova v celoti podprtega programa ABCP svojim pristojnim organom na zahtevo dokazati, da podrobno in temeljito pozna kreditno kakovost sponzorja in pogoje zagotovljenega likvidnostnega kredita.
Notwithstanding points (a) and (b) of the first subparagraph, in the case of a fully supported ABCP programme, institutional investors in the commercial paper issued by that ABCP programme shall consider the features of the ABCP programme and the full liquidity support.
Brez poseganja v odstavke 1 do 4 tega člena lahko v primeru, kadar institucionalni investitor drugega institucionalnega investitorja pooblasti za sprejemanje odločitev o upravljanju naložb, ki ga lahko izpostavijo listinjenju, institucionalni investitor temu upravljavcu lahko naroči, da izpolni njegove obveznosti iz tega člena v zvezi z vsako izpostavljenostjo iz naslova listinjenja, ki izhaja iz teh odločitev.
An institutional investor, other than the originator, sponsor or original lender, holding a securitisation position, shall at least:
Države članice zagotovijo, da se lahko v primeru, ko je institucionalnemu investitorju v skladu s tem odstavkom naročeno, da izpolni obveznosti drugega institucionalnega investitorja, vendar tega ne stori, vse sankcije, ki se naložijo na podlagi členov 32 in 33, naložijo upravljavcu in ne institucionalnemu investitorju, ki je izpostavljen listinjenju.
establish appropriate written procedures that are proportionate to the risk profile of the securitisation position and, where relevant, to the institutional investor’s trading and non-trading book, in order to monitor, on an ongoing basis, compliance with paragraphs 1 and 3 and the performance of the securitisation position and of the underlying exposures.
Člen 6
Where relevant with respect to the securitisation and the underlying exposures, those written procedures shall include monitoring of the exposure type, the percentage of loans more than 30, 60 and 90 days past due, default rates, prepayment rates, loans in foreclosure, recovery rates, repurchases, loan modifications, payment holidays, collateral type and occupancy, and frequency distribution of credit scores or other measures of credit worthiness across underlying exposures, industry and geographical diversification, frequency distribution of loan to value ratios with band widths that facilitate adequate sensitivity analysis.
Zadržanje tveganja
Where the underlying exposures are themselves securitisation positions, as permitted under Article 8, institutional investors shall also monitor the exposures underlying those positions;
Originator, sponzor ali prvotni kreditodajalec listinjenja v listinjenju trajno zadrži pomemben neto ekonomski delež v višini najmanj 5 %.
in the case of a securitisation other than a fully supported ABCP programme, regularly perform stress tests on the cash flows and collateral values supporting the underlying exposures or, in the absence of sufficient data on cash flows and collateral values, stress tests on loss assumptions, having regard to the nature, scale and complexity of the risk of the securitisation position;
Ta delež se meri ob izdaji listinjenja in se za zunajbilančne postavke določi na podlagi nominalne vrednosti.
in the case of fully supported ABCP programme, regularly perform stress tests on the solvency and liquidity of the sponsor;
Kadar se originator, sponzor ali prvotni kreditodajalec niso sporazumeli o tem, kdo bo zadržal pomemben neto ekonomski delež, originator zadrži pomemben ekonomski delež.
ensure internal reporting to its management body so that the management body is aware of the material risks arising from the securitisation position and so that those risks are adequately managed;
Za vsako posamezno listinjenje se zahteve po zadržanju ne uporabijo večkratno.
be able to demonstrate to its competent authorities, upon request, that it has a comprehensive and thorough understanding of the securitisation position and its underlying exposures and that it has implemented written policies and procedures for the risk management of the securitisation position and for maintaining records of the verifications and due diligence in accordance with paragraphs 1 and 2 and of any other relevant information; and
Pomemben neto ekonomski delež se ne razdeli med različne vrste subjektov, ki zadržijo delež, in ni predmet kakršnega koli zmanjševanja kreditnega tveganja ali varovanja pred tveganjem.
in the case of exposures to a fully supported ABCP programme, be able to demonstrate to its competent authorities, upon request, that it has a comprehensive and thorough understanding of the credit quality of the sponsor and of the terms of the liquidity facility provided.
Za namene tega člena se subjekt ne šteje za originatorja, če je bil ustanovljen ali posluje izključno z namenom listinjenja izpostavljenosti.
Without prejudice to paragraphs 1 to 4 of this Article, where an institutional investor has given another institutional investor authority to make investment management decisions that might expose it to a securitisation, the institutional investor may instruct that managing party to fulfil its obligations under this Article in respect of any exposure to a securitisation arising from those decisions.
Originatorji ne smejo izbrati sredstev, ki bodo prenesena na SSPE, z namenom, da bi povzročili izgube iz teh sredstev, prenesenih na SSPE – v času trajanja posla ali največ štiri leta, če posel traja več kot štiri leta –, ki bi bile večje od izgub iz primerljivih sredstev v bilanci stanja originatorja za isto obdobje.
Member States shall ensure that, where an institutional investor is instructed under this paragraph to fulfil the obligations of another institutional investor and fails to do so, any sanction under Articles 32 and 33 may be imposed on the managing party and not on the institutional investor who is exposed to the securitisation.
Kadar pristojni organ najde dokaze, na podlagi katerih bi lahko sklepali o kršitvi te prepovedi, mora raziskati učinkovitost sredstev, ki so bila prenesena na SSPE, in primerljivih sredstev v bilanci stanja originatorja.
Article 6
Če je uspešnost prenesenih sredstev bistveno nižja od primerljivih sredstev v bilanci stanja originatorja in je originator to naredil namerno, pristojni organ naloži sankcijo v skladu s členoma 32 in 33.
Risk retention
Za zadržanje pomembnega neto ekonomskega deleža v višini najmanj 5 % v smislu odstavka 1 velja samo naslednje:
The originator, sponsor or original lender of a securitisation shall retain on an ongoing basis a material net economic interest in the securitisation of not less than 5 %.
zadržanje vsaj 5 % nominalne vrednosti vsake tranše, prodane investitorjem ali prenesene nanje;
That interest shall be measured at the origination and shall be determined by the notional value for off-balance-sheet items.
v primeru obnavljajočih se listinjenj ali listinjenj obnavljajočih se izpostavljenosti zadržanje deleža originatorja v višini vsaj 5 % nominalne vrednosti vsake od listinjenih izpostavljenosti;
Where the originator, sponsor or original lender have not agreed between them who will retain the material net economic interest, the originator shall retain the material net economic interest.
zadržanje naključno izbranih izpostavljenosti, ki ustrezajo vsaj 5 % nominalne vrednosti listinjenih izpostavljenosti, kadar bi bile take nelistinjene izpostavljenosti sicer listinjene v listinjenju, če je število potencialno listinjenih izpostavljenosti ob izdaji listinjenja najmanj 100;
There shall be no multiple applications of the retention requirements for any given securitisation.
zadržanje tranše prve izgube in, kadar tako zadržanje ne dosega 5 % nominalne vrednosti listinjenih izpostavljenosti, po potrebi drugih tranš z enakim ali strožjim profilom tveganja, kot ga imajo tiste, ki so prenesene ali prodane investitorjem, in ki ne zapadejo prej kot tiste, ki so prenesene ali prodane investitorjem, tako da je zadržanje enako vsaj 5 % nominalne vrednosti listinjenih izpostavljenosti; ali
The material net economic interest shall not be split amongst different types of retainers and not be subject to any credit-risk mitigation or hedging.
zadržanje izpostavljenosti prve izgube v višini vsaj 5 % vsake listinjene izpostavljenosti v listinjenju.
For the purposes of this Article, an entity shall not be considered to be an originator where the entity has been established or operates for the sole purpose of securitising exposures.
Kadar mešani finančni holding s sedežem v Uniji v smislu Direktive 2002/87/ES Evropskega parlamenta in Sveta [24], nadrejena institucija ali finančni holding s sedežem v Uniji, ali ena izmed njihovih podrejenih družb v smislu Uredbe (EU) št. 575/2013 v vlogi originatorja ali sponzorja listini izpostavljenosti ene ali več kreditnih institucij, investicijskih podjetij ali drugih finančnih institucij, ki so vključene v nadzor na konsolidirani podlagi, se lahko zahteve iz odstavka 1 izpolnijo na podlagi konsolidiranega položaja povezane nadrejene institucije, finančnega holdinga ali mešanega finančnega holdinga s sedežem v Uniji.Prvi pododstavek se uporablja samo, če kreditne institucije, investicijska podjetja ali finančne institucije, ki so ustvarile listinjene izpostavljenosti, izpolnjujejo zahteve iz člena 79 Direktive 2013/36/EU Evropskega parlamenta in Sveta [25] ter originatorju ali sponzorju in nadrejeni kreditni instituciji Unije, finančnemu holdingu ali mešanemu finančnemu holdingu s sedežem v Uniji, pravočasno predložijo informacije, potrebne za izpolnitev zahtev iz člena 5 te uredbe.
Originators shall not select assets to be transferred to the SSPE with the aim of rendering losses on the assets transferred to the SSPE, measured over the life of the transaction, or over a maximum of 4 years where the life of the transaction is longer than four years, higher than the losses over the same period on comparable assets held on the balance sheet of the originator.
Odstavek 1 se ne uporablja, kadar gre pri listinjenih izpostavljenostih za izpostavljenosti do naslednjih subjektov oziroma izpostavljenosti, za katere v celoti, brezpogojno in nepreklicno jamčijo naslednji subjekti:
Where the competent authority finds evidence suggesting contravention of that prohibition, the competent authority shall investigate the performance of assets transferred to the SSPE and comparable assets held on the balance sheet of the originator.
enote centralne ravni držav ali centralne banke;
If the performance of the transferred assets is significantly lower than that of the comparable assets held on the balance sheet of the originator as a consequence of the intent of the originator, the competent authority shall impose a sanction pursuant to Articles 32 and 33.
regionalne oblasti, lokalne oblasti in osebe javnega sektorja držav članic v smislu točke (8) člena 4(1) Uredbe (EU) št. 575/2013;
Only the following shall qualify as a retention of a material net economic interest of not less than 5 % within the meaning of paragraph 1:
institucije, ki se jim v skladu s poglavjem 2 naslova II dela 3 Uredbe (EU) št. 575/2013 dodeli utež tveganja 50 % ali manj;
the retention of not less than 5 % of the nominal value of each of the tranches sold or transferred to investors;
nacionalne spodbujevalne banke ali institucije v smislu točke (3) člena 2 Uredbe (EU) 2015/1017 Evropskega parlamenta in Sveta [26]; ali
in the case of revolving securitisations or securitisations of revolving exposures, the retention of the originator’s interest of not less than 5 % of the nominal value of each of the securitised exposures;
multilateralne razvojne banke, navedene v členu 117 Uredbe (EU) št. 575/2013.
the retention of randomly selected exposures, equivalent to not less than 5 % of the nominal value of the securitised exposures, where such non-securitised exposures would otherwise have been securitised in the securitisation, provided that the number of potentially securitised exposures is not less than 100 at origination;
Odstavek 1 se ne uporablja za posle, ki temeljijo na jasnem, preglednem in dostopnem indeksu, če so osnovni referenčni subjekti popolnoma enaki tistim, ki sestavljajo indeks subjektov, s katerim se trguje v velikem obsegu, ali če so to drugi vrednostni papirji, s katerimi se trguje, ki niso pozicije v listinjenju.
the retention of the first loss tranche and, where such retention does not amount to 5 % of the nominal value of the securitised exposures, if necessary, other tranches having the same or a more severe risk profile than those transferred or sold to investors and not maturing any earlier than those transferred or sold to investors, so that the retention equals in total not less than 5 % of the nominal value of the securitised exposures; or
EBA bo v tesnem sodelovanju z ESMA ter Evropskim organom za zavarovanja in poklicne pokojnine (EIOPA), ustanovljenim z Uredbo (EU) št. 1094/2010 Evropskega parlamenta in Sveta [27] pripravi osnutek regulativnih tehničnih standardov, s katerimi bo podrobneje določil zahtevo po zadržanju tveganja, zlasti glede:(a) načinov zadržanja tveganja v skladu z odstavkom 3, vključno z izpolnitvijo prek sintetične ali pogojne oblike zadržanja;
the retention of a first loss exposure of not less than 5 % of every securitised exposure in the securitisation.
merjenja ravni zadržanja iz odstavka 1;
Where a mixed financial holding company established in the Union within the meaning of Directive 2002/87/EC of the European Parliament and of the Council [24], a parent institution or a financial holding company established in the Union, or one of its subsidiaries within the meaning of Regulation (EU) No 575/2013, as an originator or sponsor, securitises exposures from one or more credit institutions, investment firms or other financial institutions which are included in the scope of supervision on a consolidated basis, the requirements referred to in paragraph 1 may be satisfied on the basis of the consolidated situation of the related parent institution, financial holding company, or mixed financial holding company established in the Union.The first subparagraph shall apply only where credit institutions, investment firms or financial institutions which created the securitised exposures comply with the requirements set out in Article 79 of Directive 2013/36/EU of the European Parliament and of the Council [25] and deliver the information needed to satisfy the requirements provided for in Article 5 of this Regulation, in a timely manner, to the originator or sponsor and to the Union parent credit institution, financial holding company or mixed financial holding company established in the Union.
prepovedi varovanja tveganja ali prodaje zadržanega deleža;
Paragraph 1 shall not apply where the securitised exposures are exposures on or exposures fully, unconditionally and irrevocably guaranteed by:
pogojev za zadržanje na konsolidirani podlagi v skladu z odstavkom 4;
central governments or central banks;
pogojev za izvzetje poslov, ki temeljijo na jasnem, preglednem in dostopnem indeksu, iz odstavka 6.
regional governments, local authorities and public sector entities within the meaning of point (8) of Article 4(1) of Regulation (EU) No 575/2013 of Member States;
EBA navedene osnutke tehničnih regulativnih standardov predloži Komisiji do 18. julija 2018.
institutions to which a 50 % risk weight or less is assigned under Part Three, Title II, Chapter 2 of Regulation (EU) No 575/2013;
Na Komisijo se prenese pooblastilo za dopolnitev te uredbe s sprejetjem regulativnih tehničnih standardov iz tega odstavka v skladu s členi 10 do 14 Uredbe (EU) št. 1093/2010.
national promotional banks or institutions within the meaning of point (3) of Article 2 of Regulation (EU) 2015/1017 of the European Parliament and of the Council [26]; or
Člen 7
the multilateral development banks listed in Article 117 of Regulation (EU) No 575/2013.
Zahteve glede preglednosti za originatorje, sponzorje in SSPE
Paragraph 1 shall not apply to transactions based on a clear, transparent and accessible index, where the underlying reference entities are identical to those that make up an index of entities that is widely traded, or are other tradable securities other than securitisation positions.
Originator, sponzor in SSPE listinjenja v skladu z odstavkom 2 tega člena imetnikom pozicije v listinjenju, pristojnim organom iz člena 29 in, na zahtevo, potencialnim investitorjem dajo na razpolago vsaj naslednje informacije:
EBA, in close cooperation with the ESMA and the European Insurance and Occupational Pensions Authority (EIOPA) which was established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council [27], shall develop draft regulatory technical standards to specify in greater detail the risk-retention requirement, in particular with regard to:(a) the modalities for retaining risk pursuant to paragraph 3, including the fulfilment through a synthetic or contingent form of retention;
informacije o osnovnih izpostavljenostih vsako četrtletje ali v primeru ABCP informacije o osnovnih denarnih terjatvah ali kreditnih terjatvah enkrat mesečno;
the measurement of the level of retention referred to in paragraph 1;
vso osnovno dokumentacijo, nujno potrebno za razumevanje posla, med drugim, vendar ne izključno, če je primerno, tudi naslednje dokumente:
the prohibition of hedging or selling the retained interest;
končno ponudbeno dokumentacijo ali prospekt skupaj z dokumenti o zaključku posla, razen pravnih mnenj;
the conditions for retention on a consolidated basis in accordance with paragraph 4;
pri tradicionalnem listinjenju pogodbo o prodaji sredstva, pogodbo o odstopu, novaciji ali prenosu in vse ustrezne izjave o zaupanju;
the conditions for exempting transactions based on a clear, transparent and accessible index referred to in paragraph 6;
dogovore o izvedenih finančnih instrumentih in jamstvih ter vse ustrezne dokumente o dogovorih o zavarovanju s premoženjem, če izpostavljenosti, ki se listinijo, ostanejo izpostavljenosti originatorja;
The EBA shall submit those draft regulatory technical standards to the Commission by 18 July 2018.
pogodbe o servisiranju, nadomestnem servisiranju, administrativnih storitvah in upravljanju z denarjem;
The Commission is empowered to supplement this Regulation by adopting the regulatory technical standards referred to in this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
skrbniško pogodbo, pogodbe o zavarovanju, zastopstvu, bančnem računu, zajamčenih vlogah, pogodbo o vključenih pogojih ali okvirno pogodbo o centralnem skladu ali okvirno pogodbo o opredelitvah ali pravno dokumentacijo enakovredne pravne veljavnosti;
Article 7
vse zadevne dogovore med upniki, dokumentacijo o izvedenih finančnih instrumentih, pogodbe o podrejenih kreditih, pogodbe o kreditih za ustanovitev podjetja in pogodbe o okvirnih likvidnostnih kreditih.
Transparency requirements for originators, sponsors and SSPEs
Ta osnovna dokumentacija vključuje podroben opis vrstnega reda plačil listinjenja;
The originator, sponsor and SSPE of a securitisation shall, in accordance with paragraph 2 of this Article, make at least the following information available to holders of a securitisation position, to the competent authorities referred to in Article 29 and, upon request, to potential investors:
kadar prospekt ni bil pripravljen v skladu z Direktivo 2003/71/ES Evropskega parlamenta in Sveta [28], povzetek posla ali pregled glavnih značilnosti listinjenja, po potrebi vključno z:
information on the underlying exposures on a quarterly basis, or, in the case of ABCP, information on the underlying receivables or credit claims on a monthly basis;
podrobnostmi v zvezi s strukturo posla, vključno s strukturnimi diagrami, ki vsebujejo pregled posla, denarnih tokov in lastniške strukture;
all underlying documentation that is essential for the understanding of the transaction, including but not limited to, where applicable, the following documents:
podrobnostmi v zvezi z značilnostmi izpostavljenosti, denarnimi tokovi, izgubami po kaskadnem načelu, kreditno izboljšavo in značilnostmi likvidnostne podpore;
the final offering document or the prospectus together with the closing transaction documents, excluding legal opinions;
podrobnostmi v zvezi z glasovalnimi pravicami imetnikov pozicije v listinjenju in njihovim razmerjem do drugih zavarovanih upnikov;
for traditional securitisation the asset sale agreement, assignment, novation or transfer agreement and any relevant declaration of trust;
seznamom vseh sprožilcev in dogodkov, navedenih v dokumentih, ki so predloženi v skladu s točko (b) in bi lahko pomembno vplivali na uspešnost pozicije v listinjenju;
the derivatives and guarantee agreements, as well as any relevant documents on collateralisation arrangements where the exposures being securitised remain exposures of the originator;
v primeru listinjenj STS uradno obvestilo o STS iz člena 27;
the servicing, back-up servicing, administration and cash management agreements;
četrtletna poročila investitorjem ali v primeru ABCP mesečna poročila investitorjem, ki vsebujejo:
the trust deed, security deed, agency agreement, account bank agreement, guaranteed investment contract, incorporated terms or master trust framework or master definitions agreement or such legal documentation with equivalent legal value;
vse potrebne pomembne podatke o kreditni kakovosti in uspešnosti osnovnih izpostavljenosti;
any relevant inter-creditor agreements, derivatives documentation, subordinated loan agreements, start-up loan agreements and liquidity facility agreements;
informacije o dogodkih, ki sprožijo spremembe v vrstnem redu plačil ali zamenjavo kakršne koli nasprotne stranke, in v primeru listinjenja, ki ni posel ABCP, podatke o denarnih tokovih iz naslova osnovnih izpostavljenosti in iz obveznosti iz listinjenja;
That underlying documentation shall include a detailed description of the priority of payments of the securitisation;
informacije o zadržanem tveganju, vključno z informacijami, za katere se uporablja ureditev iz člena 6(3), v skladu s členom 6;
where a prospectus has not been drawn up in compliance with Directive 2003/71/EC of the European Parliament and of the Council [28], a transaction summary or overview of the main features of the securitisation, including, where applicable:
vse notranje informacije v zvezi z listinjenjem, ki jih morajo originator, sponzor ali SSPE razkriti javnosti v skladu s členom 17 Uredbe (EU) št. 596/2014 Evropskega parlamenta in Sveta [29] o trgovanju z notranjimi informacijami in tržni manipulaciji;
details regarding the structure of the deal, including the structure diagrams containing an overview of the transaction, the cash flows and the ownership structure;
kadar se ne uporablja točka (f), pomembne dogodke, kot so:
details regarding the exposure characteristics, cash flows, loss waterfall, credit enhancement and liquidity support features;
pomembna kršitev obveznosti iz dokumentov, danih na voljo v skladu s točko (b), vključno s pravnim sredstvom, opustitvijo ali privoljenjem, predloženim pozneje v zvezi s tako kršitvijo;
details regarding the voting rights of the holders of a securitisation position and their relationship to other secured creditors;
sprememba strukturnih lastnosti, ki lahko pomembno vpliva na uspešnost listinjenja;