natgillin/translations-raw huggingface dataset:
The manager of an MMF shall establish, implement and consistently apply a prudent internal credit quality assessment procedure for determining the credit quality of money market instruments, securitisations and ABCPs, taking into account the issuer of the instrument and the characteristics of the instrument itself.
Upravitelj sklada denarnega trga vzpostavi, izvaja in dosledno uporablja preudaren postopek notranjega ocenjevanja kreditne kakovosti za določanje kreditne kakovosti instrumentov denarnega trga, listinjenj in komercialnih zapisov s premoženjskim kritjem, pri čemer upošteva izdajatelja instrumenta in značilnosti instrumenta samega.
The manager of an MMF shall ensure that the information used in applying the internal credit quality assessment procedure is of sufficient quality, up-to-date and from reliable sources.
Upravitelj sklada denarnega trga zagotovi, da so informacije, ki se uporabijo pri izvajanju notranjega ocenjevanja kreditne kakovosti, dovolj kakovostne, posodobljene in da prihajajo iz zanesljivih virov.
The internal assessment procedure shall be based on prudent, systematic and continuous assessment methodologies.
Postopek notranjega ocenjevanja temelji na preudarnih, sistematičnih in ustaljenih metodologijah ocenjevanja.
The methodologies used shall be subject to validation by the manager of an MMF based on historical experience and empirical evidence, including back testing.
Uporabljene metodologije mora potrditi upravitelj sklada denarnega trga glede na pretekle izkušnje in empirične dokaze, vključno s testiranjem za nazaj.
The manager of an MMF shall ensure that the internal credit quality assessment procedure complies with all of the following general principles:
Upravitelj sklada denarnega trga zagotovi, da je postopek notranjega ocenjevanja kreditne kakovosti v skladu z vsemi naslednjimi splošnimi načeli:
an effective process is to be established to obtain and update relevant information on the issuer and the instrument's characteristics;
vzpostavi se učinkovit postopek za pridobivanje in posodabljanje pomembnih informacij o izdajatelju in značilnostih instrumenta;
adequate measures are to be adopted and implemented to ensure that the internal credit quality assessment is based on a thorough analysis of the information that is available and pertinent, and includes all relevant driving factors that influence the creditworthiness of the issuer and the credit quality of the instrument;
sprejmejo in izvajajo se ustrezni ukrepi za zagotovitev, da notranje ocenjevanje kreditne kakovosti temelji na poglobljeni analizi informacij, ki so na voljo in so primerne ter vključujejo vse pomembne dejavnike, ki vplivajo na kreditno sposobnost izdajatelja in kreditno kakovost instrumenta;
the internal credit quality assessment procedure is to be monitored on an ongoing basis and all credit quality assessments shall be reviewed at least annually;
redno se spremlja postopek notranjega ocenjevanja kreditne kakovosti in vsaj enkrat na leto se pregledajo vse ocene kreditne kakovost;
while there is to be no mechanistic over-reliance on external ratings in accordance with Article 5a of Regulation (EC) No 1060/2009, the manager of an MMF shall undertake a new credit quality assessment for a money market instrument, securitisations and ABCPs when there is a material change that could have an impact on the existing assessment of the instrument;
čeprav v skladu s členom 5a Uredbe (ES) št. 1060/2009 ni dovoljeno preveliko mehanično opiranje na zunanje ocene, upravitelj sklada denarnega trga izvede novo ocenjevanje kreditne kakovosti za instrument denarnega trga, listinjenja in komercialne zapise s premoženjskim kritjem, če pride do pomembne spremembe, ki bi lahko vplivala na obstoječo oceno instrumenta;
the credit quality assessment methodologies are to be reviewed at least annually by the manager of an MMF to determine whether they remain appropriate for the current portfolio and external conditions and the review shall be transmitted to the competent authority of the manager of the MMF.
upravitelj sklada denarnega trga z letnimi pregledi metodologij ocenjevanja kreditne kakovosti ugotavlja, ali so še naprej primerne za trenutni portfelj in zunanje pogoje, pregled pa se posreduje pristojnemu organu upravitelja sklada denarnega trga.
Where the manager of the MMF becomes aware of errors in the credit quality assessment methodology or in its application, it shall immediately correct those errors;
Kadar upravitelj sklada denarnega trga odkrije napake v metodologiji ocenjevanja kreditne kakovosti ali pri njeni uporabi, jih nemudoma odpravi;
when methodologies, models or key assumptions used in the internal credit quality assessment procedure are changed, the manager of an MMF is to review all affected internal credit quality assessments as soon as possible.
kadar se metodologije, modeli ali ključne predpostavke, uporabljene pri postopku notranjega ocenjevanja kreditne kakovosti, spremenijo, upravitelj sklada denarnega trga čim prej pregleda vse notranje ocene kreditne kakovosti, na katere je sprememba vplivala.
Internal credit quality assessment
Notranje ocenjevanje kreditne kakovosti
The manager of an MMF shall apply the procedure laid down in Article 19 to determine whether the credit quality of a money market instrument, securitisation or ABCP receives a favourable assessment.
Upravitelj sklada denarnega trga uporabi postopek iz člena 19, da ugotovi, ali kreditna kakovost instrumenta denarnega trga, listinjenja ali komercialnega zapisa s premoženjskim kritjem prejme ugodno oceno.
Where a credit rating agency registered and certified in accordance with Regulation (EC) No 1060/2009 has provided a rating of that money market instrument, the manager of the MMF may have regard to such rating and supplementary information and analysis in its internal credit quality assessment, while not solely or mechanistically relying on such rating in accordance with Article 5a of Regulation (EC) No 1060/2009.
Kadar bonitetna agencija, ki je registrirana in certificirana v skladu z Uredbo (ES) št. 1060/2009, oceni ta instrument denarnega trga, lahko upravitelj sklada denarnega trga to oceno in dodatne informacije in analize upošteva v svojem notranjem ocenjevanju kreditne kakovosti, pri čemer se v skladu s členom 5a Uredbe (ES) št. 1060/2009 ne zanaša izključno ali mehanično na to oceno.
The credit quality assessment shall take into account at least the following factors and general principles:
Ocenjevanje kreditne kakovosti upošteva vsaj naslednje dejavnike in splošna načela:
the quantification of the credit risk of the issuer and of the relative risk of default of the issuer and of the instrument;
kvantitativno opredelitev kreditnega tveganja izdajatelja in relativnega tveganja neplačila izdajatelja in instrumenta;
qualitative indicators on the issuer of the instrument, including in the light of the macroeconomic and financial market situation;
kvalitativne kazalnike o izdajatelju instrumenta, tudi ob upoštevanju makroekonomskih razmer in razmer na finančnih trgih;
the short-term nature of money market instruments;
kratkoročno naravo instrumentov denarnega trga;
the asset class of the instrument;
razred sredstev instrumenta;
the type of issuer distinguishing at least the following types of issuers: national, regional or local administrations, financial corporations, and non-financial corporations;
vrsto izdajatelja, pri čemer se razlikuje vsaj med naslednjimi vrstami izdajateljev: nacionalni, regionalni ali lokalni upravni organi, finančne gospodarske družbe in nefinančne gospodarske družbe;
for structured financial instruments, the operational and counterparty risk inherent within the structured financial transaction and, in case of exposure to securitisations, the credit risk of the issuer, the structure of the securitisation and the credit risk of the underlying assets;
za strukturirane finančne instrumente, operativno tveganje in tveganje nasprotne stranke, ki je značilno za strukturirano finančno transakcijo in, v primeru izpostavljenosti listinjenjem, kreditno tveganje izdajatelja, strukturo listinjenja in kreditno tveganje osnovnih sredstev;
the liquidity profile of the instrument.
likvidnostni profil instrumenta.
The manager of an MMF may, in addition to the factors and general principles referred to in this paragraph, take into account warnings and indicators when determining the credit quality of a money market instrument referred to in Article 17(7).
Upravitelj sklada denarnega trga lahko pri določanju kreditne kakovosti instrumenta denarnega trga iz člena 17(7) poleg dejavnikov in splošnih načel iz tega odstavka upošteva opozorila in kazalnike.
The manager of an MMF shall document its internal credit quality assessment procedure and credit quality assessments.
Upravitelj sklada denarnega trga dokumentira svoj postopek notranjega ocenjevanja kreditne kakovosti in ocene kreditne kakovosti.
Documentation shall include all of the following:
Dokumentacija vključuje vse naslednje:
the design and operational details of its internal credit quality assessment procedure in a manner that allows competent authorities to understand and evaluate the appropriateness of a credit quality assessment;
zasnovo in podrobnosti delovanja njegovega postopka notranjega ocenjevanja kreditne kakovosti tako, da lahko pristojni organi razumejo in ocenijo ustreznost ocenjevanja kreditne kakovosti;
the rationale for and the analysis supporting the credit quality assessment, as well as the manager of the MMF's choice of criteria for, and the frequency of, the review of the credit quality assessment;
utemeljitev in analizo, ki podpirata oceno kreditne kakovosti ter odločitev upravitelja sklada denarnega trga glede meril in pogostosti pregledovanja ocene kreditne kakovosti;
all major changes to the internal credit quality assessment procedure, including identification of the triggers of such changes;
vse večje spremembe postopka notranjega ocenjevanja kreditne kakovosti, vključno z identifikacijo sprožilcev takih sprememb;
the organisation of the internal credit quality assessment procedure and the internal control structure;
organizacijo postopka notranjega ocenjevanja kreditne kakovosti in strukturo notranjega nadzora;
complete internal credit quality assessment histories on instruments, issuers and, where relevant, recognised guarantors;
popolne podatke o preteklih ocenah kreditne kakovosti instrumentov, izdajateljev in po potrebi priznanih porokov;
the person or persons responsible for the internal credit quality assessment procedure.
podatke o odgovorni osebi ali osebah za postopek notranjega ocenjevanja kreditne kakovosti.
The manager of an MMF shall keep all the documentation referred to in paragraph 1 for at least three complete annual accounting periods.
Upravitelj sklada denarnega trga vso dokumentacijo iz odstavka 1 hrani vsaj tri polna letna obračunska obdobja.
The internal credit quality assessment procedure shall be detailed in the fund rules or rules of incorporation of the MMF and all documents referred to in paragraph 1 shall be made available upon request to the competent authorities of the MMF and to the competent authorities of the manager of the MMF.
Podrobnosti postopka notranjega ocenjevanja kreditne kakovosti se navedejo v pravilih upravljanja sklada ali pravilih o ustanovitvi sklada denarnega trga in vsi dokumenti iz odstavka 1 se na zahtevo dajo na razpolago pristojnim organom sklada denarnega trga in pristojnim organom upravitelja sklada denarnega trga.
Delegated acts for the credit quality assessment
Delegirani akti za ocenjevanje kreditne kakovosti
The Commission shall adopt delegated acts in accordance with Article 45 in order to supplement this Regulation by specifying the following points:
Komisija sprejme delegirane akte v skladu s členom 45, da to uredbo dopolni z opredelitvijo naslednjega:
the criteria for the validation of the credit quality assessment methodology, as referred to in Article 19(3);
meril za potrjevanje metodologije ocenjevanja kreditne kakovosti iz člena 19(3);
the criteria for quantification of the credit risk, and of the relative risk of default of an issuer and of the instrument, as referred to in point (a) of Article 20(2);
meril za kvantitativno opredelitev kreditnega tveganja in relativnega tveganja neplačila izdajatelja in instrumenta iz točke (a) člena 20(2);
the criteria for establishing qualitative indicators on the issuer of the instrument, as referred to in point (b) of Article 20(2);
meril za vzpostavitev kvalitativnih kazalnikov izdajatelja instrumenta iz točke (b) člena 20(2);
the meaning of material change as referred to in point (d) of Article 19(4).
pomena pomembne spremembe iz točke (d) člena 19(4).
Governance of the credit quality assessment
Upravljanje ocenjevanja kreditne kakovosti
The internal credit quality assessment procedure shall be approved by the senior management, the governing body, and, where it exists, the supervisory function of the manager of an MMF.
Postopek notranjega ocenjevanja kreditne kakovosti potrdijo višje vodstvo, vodstveni organ in, kadar obstaja, nadzorna funkcija upravitelja sklada denarnega trga.
Those parties shall have a good understanding of the internal credit quality assessment procedure and the methodologies applied by the manager of an MMF, as well as a detailed comprehension of the associated reports.
Te strani morajo dobro razumeti delovanje postopka notranjega ocenjevanja kreditne kakovosti in metodologij, ki jih uporablja upravitelj sklada denarnega trga, ter podrobno poznati z njimi povezana poročila.
The manager of an MMF shall report to the parties referred to in paragraph 1 on the MMF's credit risk profile, based on an analysis of the MMF's internal credit quality assessments.
Upravitelj sklada denarnega trga poroča stranem iz odstavka 1 o profilu kreditnega tveganja sklada denarnega trga na podlagi analize notranjih ocenjevanj kreditne kakovosti sklada denarnega trga.
Reporting frequencies shall depend on the significance and type of information and shall be at least annual.
Pogostost poročanja je odvisna od pomembnosti in vrste informacij ter se izvede vsaj enkrat na leto.
Senior management shall ensure, on an ongoing basis, that the internal credit quality assessment procedure is operating properly.
Višje vodstvo redno zagotavlja, da se postopek notranjega ocenjevanja kreditne kakovosti ustrezno izvaja.
Senior management shall be regularly informed about the performance of the internal credit quality assessment procedures, the areas where deficiencies were identified, and the status of efforts and actions taken to improve previously identified deficiencies.
Višje vodstvo je redno obveščeno o uspešnosti postopkov notranjega ocenjevanja kreditne kakovosti, območjih, na katerih so bile ugotovljene pomanjkljivosti, ter stanju prizadevanj in ukrepov, sprejetih za izboljšanje že opredeljenih pomanjkljivosti.
Internal credit quality assessments and their periodic reviews by the manager of an MMF shall not be performed by the persons performing or responsible for the portfolio management of an MMF.
Notranjega ocenjevanja kreditne kakovosti in rednega pregledovanja, ki ga izvaja upravitelj sklada denarnega trga, ne smejo opravljati osebe, ki izvajajo upravljanje portfelja sklada denarnega trga ali so za to odgovorne.
Obligations concerning the risk management of MMFs
Obveznosti v zvezi z obvladovanjem tveganja skladov denarnega trga
Portfolio rules for short-term MMFs
Pravila portfelja za kratkoročne sklade denarnega trga
A short-term MMF shall comply on an ongoing basis with all of the following portfolio requirements:
Kratkoročni sklad denarnega trga vedno izpolnjuje vse naslednje zahteve glede portfelja:
its portfolio is to have a WAM of no more than 60 days;
njegov portfelj ima WAM, ki ne presega 60 dni;
its portfolio is to have a WAL of no more than 120 days, subject to the second and third subparagraphs;
njegov portfelj ima WAL, ki ne presega 120 dni, ob upoštevanju drugega in tretjega pododstavka;
for LVNAV MMFs and public debt CNAV MMFs, at least 10 % of their assets are to be comprised of daily maturing assets, reverse repurchase agreements which are able to be terminated by giving prior notice of one working day or cash which is able to be withdrawn by giving prior notice of one working day.
pri skladih denarnega trga z manjšim nihanjem NVS in skladih denarnega trga s konstantno NVS za naložbe v instrumente javnega dolga najmanj 10 % njihovih sredstev sestavljajo dnevno zapadla sredstva, pogodbe o začasnem odkupu, ki se lahko prekinejo po predhodnem obvestilu, poslanem en delovni dan prej, ali denarna sredstva, ki jih je mogoče odpoklicati po predhodnem obvestilu, poslanem en delovni dan prej.
A LVNAV MMF or public debt CNAV MMF is not to acquire any asset other than a daily maturing asset when such acquisition would result in that MMF investing less than 10 % of its portfolio in daily maturing assets;
Sklad denarnega trga z manjšim nihanjem NVS ali sklad denarnega trga s konstantno NVS za naložbe v instrumente javnega dolga ne pridobi nobenih drugih sredstev, razen dnevno zapadlih sredstev, kadar bi zaradi take pridobitve delež dnevno zapadlih sredstev v njegovem portfelju padel pod 10 %;
for a short-term VNAV MMF, at least 7,5 % of its assets are to be comprised of daily maturing assets, reverse repurchase agreements which are able to be terminated by giving prior notice of one working day, or cash which is able to be withdrawn by giving prior notice of one working day.
pri kratkoročnem skladu denarnega trga s spremenljivo NVS vsaj 7,5 % njegovih sredstev sestavljajo dnevno zapadla sredstva, pogodbe o začasnem odkupu, ki se lahko prekinejo po predhodnem obvestilu, poslanem en delovni dan prej, ali denarna sredstva, ki jih je mogoče odpoklicati po predhodnem obvestilu, poslanem en delovni dan prej.
A short-term VNAV MMF is not to acquire any asset other than a daily maturing asset when such acquisition would result in that MMF investing less than 7,5 % of its portfolio in daily maturing assets;
Kratkoročni sklad denarnega trga s spremenljivo NVS ne pridobi nobenih drugih sredstev, razen dnevno zapadlih sredstev, kadar bi zaradi take pridobitve delež dnevno zapadlih sredstev v njegovem portfelju padel pod 7,5 %;
for LVNAV MMFs and public debt CNAV MMFs, at least 30 % of their assets are to be comprised of weekly maturing assets, reverse repurchase agreements which are able to be terminated by giving prior notice of five working days or cash which is able to be withdrawn by giving prior notice of five working days.
pri skladih denarnega trga z manjšim nihanjem NVS in skladih denarnega trga s konstantno NVS za naložbe v instrumente javnega dolga najmanj 30 % njihovih sredstev sestavljajo tedensko zapadla sredstva, pogodbe o začasnem odkupu, ki se lahko prekinejo po predhodnem obvestilu, poslanem pet delovnih dni prej, ali denarna sredstva, ki jih je mogoče odpoklicati po predhodnem obvestilu, poslanem pet delovnih dni prej.
A LVNAV MMF or public debt CNAV MMF is not to acquire any asset other than a weekly maturing asset when such acquisition would result in that MMF investing less than 30 % of its portfolio in weekly maturing assets;
Sklad denarnega trga z manjšim nihanjem NVS ali sklad denarnega trga s konstantno NVS za naložbe v instrumente javnega dolga ne pridobi nobenih drugih sredstev, razen tedensko zapadlih sredstev, kadar bi zaradi take pridobitve delež tedensko zapadlih sredstev v njegovem portfelju padel pod 30 %;
for a short-term VNAV MMF, at least 15 % of its assets are to be comprised of weekly maturing assets, reverse repurchase agreements which are able to be terminated by giving prior notice of five working days, or cash which is able to be withdrawn by giving prior notice of five working days.
pri kratkoročnem skladu denarnega trga s spremenljivo NVS vsaj 15 % sredstev sestavljajo tedensko zapadla sredstva, pogodbe o začasnem odkupu, ki se lahko prekinejo po predhodnem obvestilu, poslanem pet delovnih dni prej, ali denarna sredstva, ki jih je mogoče odpoklicati po predhodnem obvestilu, poslanem pet delovnih dni prej.
A short-term VNAV MMF is not to acquire any asset other than a weekly maturing asset when such acquisition would result in that MMF investing less than 15 % of its portfolio in weekly maturing assets;
Kratkoročni sklad denarnega trga s spremenljivo NVS ne sme pridobiti nobenih drugih sredstev razen tedensko zapadlih sredstev, kadar bi zaradi take pridobitve delež tedensko zapadlih sredstev v njegovem portfelju padel pod 15 %;
for the purpose of the calculation referred to in point (e), assets referred to in Article 17(7) which are highly liquid and can be redeemed and settled within one working day and have a residual maturity of up to 190 days may also be included within the weekly maturing assets of a LVNAV MMF and public debt CNAV MMF, up to a limit of 17,5 % of its assets;
za namene izračuna iz točke (e) se v tedensko zapadla sredstva sklada denarnega trga z manjšim nihanjem NVS in sklada denarnega trga s konstantno NVS za naložbe v instrumente javnega dolga lahko do meje 17,5 % vključi sredstva iz člena 17(7), ki so zelo likvidna in se lahko odkupijo in poravnavajo v enem delovnem dnevu in katerih preostala zapadlost znaša do 190 dni;
for the purpose of the calculation referred to in point (f), money market instruments or units or shares of other MMFs may be included within the weekly maturing assets of a short-term VNAV MMF up to a limit of 7,5 % of its assets provided they are able to be redeemed and settled within five working days.
za namene izračuna iz točke (f) se v tedensko zapadla sredstva kratkoročnega sklada denarnega trga s spremenljivo NVS lahko vključi do meje 7,5 % instrumentov denarnega trga ali enot ali deležev v drugih skladih denarnega trga, če se jih da odkupiti in poravnati v petih delovnih dneh.
For the purposes of point (b) of the first subparagraph, when calculating the WAL for securities, including structured financial instruments, a short-term MMF shall base the maturity calculation on the residual maturity until the legal redemption of the instruments.
Za namene izračuna WAL iz točke (b) prvega pododstavka za vrednostne papirje, vključno s strukturiranimi finančnimi instrumenti, izračun zapadlosti kratkoročnega sklada denarnega trga temelji na preostali zapadlosti do rednega odkupa instrumentov.
However, in the event that a financial instrument embeds a put option, a short-term MMF may base the maturity calculation on the exercise date of the put option instead of the residual maturity, but only if all of the following conditions are fulfilled at all times:
Če pa finančni instrument vključuje prodajno opcijo, lahko izračun zapadlosti kratkoročnega sklada denarnega trga namesto na preostali zapadlosti temelji na datumu izvršitve prodajne opcije, vendar le, če so vedno izpolnjeni vsi naslednji pogoji:
the put option is able to be freely exercised by the short-term MMF at its exercise date;
kratkoročni sklad denarnega trga lahko prosto izvrši prodajno opcijo na datum izvršitve;
the strike price of the put option remains close to the expected value of the instrument at the exercise date;
izvršilna cena za prodajno opcijo je blizu pričakovani vrednosti instrumenta ob datumu izvršitve;
the investment strategy of the short-term MMF implies that there is a high probability that the option will be exercised at the exercise date.
iz naložbene strategije kratkoročnega sklada denarnega trga sledi, da bo opcija zelo verjetno izvršena ob datumu izvršitve.
By way of derogation from the second subparagraph, when calculating the WAL for securitisations and ABCPs, a short-term MMF may instead, in the case of amortising instruments, base the maturity calculation on one of the following:
Z odstopanjem od drugega pododstavka lahko pri izračunu WAL za listinjenja in komercialne zapise s premoženjskim kritjem izračun zapadlosti kratkoročnega sklada denarnega trga, če gre za instrumente, ki se odplačajo, temelji na:
the contractual amortisation profile of such instruments;
pogodbenem profilu odplačila teh instrumentov ali
the amortisation profile of the underlying assets from which the cash-flows for the redemption of such instruments result.
profilu odplačila temeljnih sredstev, iz katerih izhaja denarni tok odplačila teh instrumentov.