natgillin/translations-raw huggingface dataset:
For the purposes of paragraph 1, the market value of financial instruments shall be determined in accordance with Article 7.
Za namene odstavka 1 se tržna vrednost finančnih instrumentov določi v skladu s členom 7.
Where any of the criteria set out in paragraph 1 is fulfilled, the operations of that CSD in a host Member State shall be considered of substantial importance for the functioning of the securities markets and the protection of investors in that host Member State for renewable periods of three calendar years from the 30 April of the calendar year following the fulfilment of any of those criteria.
Kadar je izpolnjeno katero koli merilo iz odstavka 1, se dejavnosti te CDD v državi članici gostiteljici štejejo za zelo pomembne za delovanje trgov vrednostnih papirjev in zaščito vlagateljev v tej državi članici gostiteljici za obnovljiva obdobja treh koledarskih let z začetkom 30. aprila koledarskega leta, ki sledi izpolnitvi katerega koli izmed teh meril.
Criteria for establishing the substantial importance of settlement services
Merila za določitev pomembnosti storitev poravnave
The provision of settlement services as referred to in point 3 of Section A of the Annex to Regulation (EU) No 909/2014 by a CSD in a host Member State shall be considered to be of substantial importance for the functioning of the securities markets and the protection of investors in the host Member State where any of the following criteria is fulfilled:
Storitve poravnave, kot so določene v točki 3 oddelka A Priloge k Uredbi (EU) št. 909/2014, ki jih opravlja CDD v državi članici gostiteljici, se štejejo za zelo pomembne za delovanje trgov vrednostnih papirjev in zaščito vlagateljev v tej državi članici gostiteljici, kadar je izpolnjeno katero koli izmed naslednjih meril:
the annual value of settlement instructions related to transactions in financial instruments issued by issuers from the host Member State and settled by the CSD represents at least 15 % of the total annual value of all settlement instructions related to transactions in financial instruments issued by issuers from the host Member State and settled by all CSDs established in the Union;
letna vrednost navodil za poravnavo v zvezi s posli s finančnimi instrumenti, ki jih izdajo izdajatelji iz države članice gostiteljice in ki jih poravna CDD, predstavlja vsaj 15 % skupne letne vrednosti vseh navodil za poravnavo v zvezi s posli s finančnimi instrumenti, ki jih izdajo izdajatelji iz države članice gostiteljice in ki jih poravnajo vse CDD s sedežem v Uniji;
the annual value of settlement instructions settled by the CSD for participants and other holders of securities accounts from the host Member State represents at least 15 % of the total annual value of the settlement instructions settled by all CSDs established in the Union, for participants and other holders of securities accounts from the host Member State;
letna vrednost navodil za poravnavo, ki jih poravna CDD za udeležence in druge imetnike računov vrednostnih papirjev iz države članice gostiteljice, predstavlja vsaj 15 % skupne letne vrednosti navodil za poravnavo, ki jih poravnajo vse CDD s sedežem v Uniji za udeležence in druge imetnike računov vrednostnih papirjev iz države članice gostiteljice;
the CSD operates a securities settlement system governed by the law of the host Member State and has been notified to the European Securities and Markets Authority (ESMA).
CDD upravlja sistem poravnave vrednostnih papirjev, ki ga ureja zakonodaja države članice gostiteljice in je bil priglašen Evropskemu organu za vrednostne papirje in trge (ESMA).
For the purposes of points (a) and (b) of paragraph 1, the value of a settlement instruction shall be:
Za namene točk (a) in (b) odstavka 1 je vrednost navodil za poravnavo naslednja:
for a settlement instruction against payment, the value of the corresponding transaction in financial instruments as entered into the securities settlement system;
pri navodilih za poravnavo proti plačilu je to vrednost zadevnega posla z vrednostnimi papirji, kot je bila vnesena v sistem poravnave vrednostnih papirjev;
for free-of-payment (FOP) settlement instructions, the aggregated market value of the relevant financial instruments as determined in accordance with Article 7.
pri navodilih za poravnavo brez plačila je to skupna tržna vrednost zadevnega finančnega instrumenta, kot je določena v skladu s členom 7.
Determination of market values
Določitev tržnih vrednosti
The market value of financial instruments referred to in Articles 3, 5 and 6 of this Regulation shall be determined as follows:
Tržna vrednost finančnih instrumentov iz členov 3, 5 in 6 te uredbe se določi, kot sledi:
for financial instruments referred to in Article 3(1) of Regulation (EU) No 600/2014 admitted to trading on a trading venue within the Union, the market value of the relevant financial instrument shall be the closing price of the most relevant market in terms of liquidity referred to in Article 4(1)(a) of Regulation (EU) No 600/2014;
za finančne instrumente iz člena 3(1) Uredbe (EU) št. 600/2014, sprejete v trgovanje na mestu trgovanja znotraj Unije, je tržna vrednost zadevnega finančnega instrumenta končna cena najpomembnejšega trga v smislu likvidnosti iz člena 4(1)(a) Uredbe (EU) št. 600/2014;
for financial instruments admitted to trading on a trading venue within the Union other than those referred to in point (a), the market value shall be the closing price derived from the trading venue within the Union with the highest turnover;
za finančne instrumente, sprejete v trgovanje na mestu trgovanja znotraj Unije, ki ni mesto trgovanja iz točke (a), je tržna cena končna cena, ki se pridobi z mesta trgovanja znotraj Unije z največjim prometom;
for financial instruments other than those referred to in points (a) and (b), the market value shall be determined on the basis of a predetermined methodology approved by the competent authority of the relevant CSD that refers to criteria related to reliable market data, such as market prices available across trading venues or investment firms.
za finančne instrumente, razen instrumentov iz točk (a) in (b), se tržna vrednost določi po vnaprej določeni metodologiji, ki jo odobri pristojni organ zadevne CDD, pri kateri se upoštevajo merila, povezana z zanesljivimi tržnimi podatki, kot so tržne cene, ki so na voljo na mestih trgovanja ali v investicijskih družbah.
The criteria referred to in Article 5(1)(a) and Article 6(1)(c) shall be applied for the first time within four months from the date of entry into force of this Regulation and shall be based on the values of financial instruments initially recorded or centrally maintained in securities accounts by the CSD on 31 December of the previous calendar year.
Merila iz člena 5(1)(a) in člena 6(1)(c) se prvič uporabijo v štirih mesecih od datuma začetka veljavnosti te uredbe ter temeljijo na vrednostih finančnih instrumentov, ki jih je CDD prvič evidentirala ali jih je centralno vodila na računih vrednostnih papirjev na dan 31. decembra predhodnega koledarskega leta.
The criteria referred to in Article 5(1)(b) and in Article 6(1)(a) and (b) shall be applied for the first time within four months from the date of application referred to in Article 9(2) and shall be based on the values of financial instruments centrally maintained in securities accounts by the CSD on 31 December of the previous calendar year.
Merila iz člena 5(1)(b) in člena 6(1)(a) in (b) se prvič uporabijo v štirih mesecih od datuma začetka uporabe iz člena 9(2) ter temeljijo na vrednostih finančnih instrumentov, ki jih je CDD centralno vodila na računih vrednostnih papirjev na dan 31. decembra predhodnega koledarskega leta.
For the period commencing on the date of entry into force of this Regulation and ending on the date of application referred to in the second paragraph of Article 55 of Regulation (EU) No 600/2014, the following shall apply:
V obdobju, ki se začne na datum začetka veljavnosti te uredbe in konča na datum začetka uporabe iz drugega odstavka člena 55 Uredbe (EU) št. 600/2014, se uporablja naslednje:
by way of derogation from Article 5(2), the market value of financial instruments shall be the nominal value of those instruments;
z odstopanjem od člena 5(2) je tržna vrednost finančnih instrumentov nominalna vrednost teh instrumentov;
by way of derogation from Article 6(2)(b), the market values of the relevant financial instruments shall be the nominal value of those financial instruments.
z odstopanjem od člena 6(2)(b) so tržne vrednosti zadevnih finančnih instrumentov nominalne vrednosti teh finančnih instrumentov.
It shall apply from 10 March 2019.
Ta uredba se uporablja od 10. marca 2019.
By way of derogation from the second paragraph:
Z odstopanjem od drugega odstavka se:
Articles 2 and 3 shall apply from the date of entry into force of the delegated act adopted by the Commission pursuant to Article 7(15) of Regulation (EU) No 909/2014.
člena 2 in 3 uporabljata od datuma začetka veljavnosti delegiranega akta, ki ga Komisija sprejme v skladu s členom 7(15) Uredbe (EU) št. 909/2014;
Article 7 shall apply from the date referred to in the second paragraph of Article 55 of Regulation (EU) No 600/2014;
člen 7 uporablja od datuma, navedenega v drugem pododstavku člena 55 Uredbe (EU) št. 600/2014;
Article 8 shall apply from the date of entry into force of this Regulation.
člen 8 uporablja od dneva začetka veljavnosti te uredbe.
OJ L 257, 28.8.2014, p. 1.
UL L 257, 28.8.2014, str. 1.
Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).
Direktiva 98/26/ES Evropskega parlamenta in Sveta z dne 19. maja 1998 o dokončnosti poravnave pri plačilih in sistemih poravnave vrednostnih papirjev (UL L 166, 11.6.1998, str. 45).
Penalty rates applicable to settlement fails
Stopnje kazni za neuspešne poravnave
Type of fail
Vrsta neuspešne poravnave
Settlement fail due to a lack of shares that have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3
Poravnava je neuspešna zaradi pomanjkanja delnic, ki imajo likviden trg v pomenu iz točke (b) člena 2(1)(17) Uredbe (EU) št. 600/2014, razen delnic iz točke 3
1,0 basis point
1,0 bazične točke
Settlement fail due to a lack of shares that do not have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3
Poravnava je neuspešna zaradi pomanjkanja delnic, ki nimajo likvidnega trga v pomenu iz točke (b) člena 2(1)(17) Uredbe (EU) št. 600/2014, razen delnic iz točke 3
0,5 basis point
0,5 bazične točke
Settlement fail due to a lack of financial instruments traded on SME growth markets, excluding debt instruments referred to in point 6
Poravnava je neuspešna zaradi pomanjkanja finančnih instrumentov, s katerimi se trguje na zagonskih trgih MSP, razen dolžniških instrumentov iz točke 6
0,25 basis point
0,25 bazične točke
Settlement fail due to a lack of debt instruments issued or guaranteed by:
Poravnava je neuspešna zaradi pomanjkanja dolžniških instrumentov, ki jih izda ali zanje jamči:
a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU;
izdajatelj državnih vrednostih papirjev, kakor je opredeljen v členu 4(1)(60) Direktive 2014/65/EU;
a third country sovereign issuer;
izdajatelj državnih vrednostnih papirjev iz tretje države;
a local government authority;
organ lokalne oblasti;
any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council [1];
katera koli multilateralna razvojna banka iz drugega pododstavka člena 117(1) in iz člena 117(2) Uredbe (EU) št. 575/2013 Evropskega parlamenta in Sveta [1];
the European Financial Stability Facility or the European Stability Mechanism.
evropski instrument za finančno stabilnost ali evropski mehanizem za stabilnost.
0,10 basis point
0,10 bazične točke
Settlement fail due to a lack of debt instruments other than those referred to in points 4 and 6
Poravnava je neuspešna zaradi pomanjkanja dolžniških instrumentov, razen instrumentov iz točk 4 in 6
0,20 basis point
0,20 bazične točke
Settlement fail due to a lack of debt instruments traded on SME growth markets
Poravnava je neuspešna zaradi pomanjkanja dolžniških instrumentov, s katerimi se trguje na zagonskih trgih MSP
0,15 basis point
0,15 bazične točke
Settlement fail due to a lack of all other financial instruments not covered in points 1 to 6
Poravnava je neuspešna zaradi pomanjkanja vseh ostalih dolžniških instrumentov, ki niso zajeti v točkah od 1 do 6
Settlement fail due to a lack of cash
Poravnava je neuspešna zaradi pomanjkanja denarnih sredstev
Official interest rate for overnight credit charged by the central bank issuing the settlement currency with a floor of 0
Uradna obrestna mera za posojilo čez noč, ki jo zaračunava centralna banka, ki izdaja valuto poravnave, z obrestnim dnom 0
Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p.
Uredba (EU) št. 575/2013 Evropskega parlamenta in Sveta z dne 26. junija 2013 o bonitetnih zahtevah za kreditne institucije in investicijska podjetja ter o spremembi Uredbe (EU) št. 648/2012 (UL L 176, 27.6.2013, str. 1).
supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on certain prudential requirements for central securities depositories and designated credit institutions offering banking-type ancillary services
o dopolnitvi Uredbe (EU) št. 909/2014 Evropskega parlamenta in Sveta v zvezi z regulativnimi tehničnimi standardi glede nekaterih bonitetnih zahtev za centralne depotne družbe in imenovane kreditne institucije, ki ponujajo pomožne bančne storitve
Having regard to Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 [1], and in particular the third subparagraph of Article 47(3), the third subparagraph of Article 54(8) and the third subparagraph of Article 59(5) thereof,
ob upoštevanju Uredbe (EU) št. 909/2014 Evropskega parlamenta in Sveta z dne 23. julija 2014 o izboljšanju ureditve poravnav vrednostnih papirjev v Evropski uniji in o centralnih depotnih družbah ter o spremembi direktiv 98/26/ES in 2014/65/EU ter Uredbe (EU) št. 236/2012 [1] in zlasti tretjega pododstavka člena 47(3), tretjega pododstavka člena 54(8) in tretjega pododstavka člena 59(5) Uredbe,
Regulation (EU) No 909/2014 establishes prudential requirements for central securities depositories (CSDs) to ensure that they are safe and sound and comply at all times with capital requirements.
Uredba (EU) št. 909/2014 uvaja bonitetne zahteve za centralne depotne družbe (v nadaljnjem besedilu: CDD) za zagotovitev, da so varne in zanesljive ter da vedno izpolnjujejo kapitalske zahteve.
Such capital requirements ensure that a CSD is at all times adequately capitalised against the risks to which it is exposed and that it is able to conduct an orderly winding-down or restructuring of its activities if necessary.
S takimi kapitalskimi zahtevami se zagotavlja stalna in ustrezna kapitalizacija CDD za tveganja, ki jim je izpostavljena, ter da lahko po potrebi in urejeno preneha poslovati ali prestrukturira svoje dejavnosti.
Given that the provisions of Regulation (EU) No 909/2014 concerning credit and liquidity risks relating to CSDs and designated credit institutions explicitly require that their internal rules and procedures allow them to monitor, measure and manage exposures and liquidity needs not only with respect to the individual participants but also with respect to participants that belong to the same group and who are counterparties of the CSD, such provisions should apply to groups of undertakings consisting of a parent undertaking and its subsidiaries.
Ker je v določbah Uredbe (EU) št. 909/2014 o kapitalskih in likvidnostnih tveganjih, povezanih s CDD in imenovanimi kreditnimi institucijami, izrecno določeno, da morajo njihova notranja pravila in postopki omogočiti spremljanje, merjenje in upravljanje izpostavljenosti in likvidnostnih potreb ne le za posamezne udeležence, temveč tudi v zvezi z udeleženci, ki spadajo v isto skupino in so nasprotne stranke CDD, bi se morale take določbe uporabljati za skupine podjetij, ki vključujejo nadrejeno družbo in njene podrejene družbe.
For the purposes of this Regulation, the relevant recommendations of the Principles for Financial Market Infrastructures issued by the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions (‘CPSS-IOSCO Principles’) [2] have been taken into account.
V tej uredbi so upoštevana ustrezna priporočila načel za infrastrukture finančnih trgov, ki sta jih izdala Odbor za plačilne in poravnalne sisteme (CPSS) ter Mednarodno združenje nadzornikov trga vrednostnih papirjev (IOSCO) (v nadaljnjem besedilu: načela CPSS-IOSCO) [2].
The treatment of capital of credit institutions under Regulation (EU) No 575/2013 of the European Parliament and of the Council [3] has also been taken into account given that CSDs are to a certain extent exposed to risks that are similar to the risks incurred by credit institutions.
Upoštevana je tudi obravnava kapitala kreditnih institucij v skladu z Uredbo (EU) št. 575/2013 Evropskega parlamenta in Sveta [3] glede na to, da so CDD v določenem obsegu izpostavljene tveganjem, podobnim tveganjem kreditnih institucij.
It is appropriate for the definition of capital in this Regulation to mirror the definition of capital laid down in Regulation (EU) No 648/2012 of the European Parliament and of the Council [4] (EMIR).
Za opredelitev kapitala v tej uredbi je primerno slediti opredelitvi kapitala iz Uredbe (EU) št. 648/2012 Evropskega parlamenta in Sveta [4] (EMIR).
Such a definition is the most suitable in relation to the regulatory requirements given that the definition of capital in Regulation (EU) No 648/2012 was specifically designed for market infrastructures.
Taka opredelitev je najprimernejša v povezavi z regulativnimi zahtevami, saj je bila opredelitev kapitala v Uredbi (EU) št. 648/2012 oblikovana posebej za infrastrukture trgov.
CSDs authorised to provide banking-type ancillary services under Regulation (EU) No 909/2014 are required to meet capital requirements under this Regulation and own funds requirements under Regulation (EU) No 575/2013 simultaneously.
CDD z dovoljenjem za opravljanje pomožnih bančnih storitev v skladu z Uredbo (EU) št. 909/2014 morajo hkrati izpolnjevati kapitalske zahteve iz te uredbe in kapitalske zahteve iz Uredbe (EU) št. 575/2013.
They are required to meet the own funds requirements laid down in Regulation (EU) No 575/2013 with instruments that meet the conditions of that Regulation.
Kapitalske zahteve iz Uredbe (EU) št. 575/2013 morajo izpolniti z instrumenti, ki izpolnjujejo pogoje navedene uredbe.
In order to avoid conflicting or duplicative requirements and considering that the methodologies used for the calculation of the additional capital surcharge for CSDs under Regulation (EU) No 909/2014 are closely related to the ones provided in Regulation (EU) No 575/2013, CSDs offering banking-type ancillary services should be allowed to meet the additional capital requirements of this Regulation with the same instruments meeting the requirements laid down in either Regulation (EU) No 575/2013 or Regulation (EU) No 909/2014.
Da bi se preprečilo medsebojno nasprotovanje zahtev ali njihovo podvajanje in glede na to, da so metodologije za izračun dodatnega kapitalskega pribitka za CDD v skladu z Uredbo (EU) št. 909/2014 tesno povezane z metodologijami iz Uredbe (EU) št. 575/2013, bi bilo treba CDD, ki ponujajo pomožne bančne storitve, omogočiti, da izpolnijo dodatne kapitalske zahteve iz te uredbe z enakimi instrumenti, ki izpolnjujejo zahteve iz Uredbe (EU) št. 575/2013 ali Uredbe (EU) št. 909/2014.
In order to ensure that, if required, a CSD would be able to organise the restructuring of its activities or an orderly winding-down, a CSD should hold capital together with retained earnings and reserves that are sufficient, at all times, to withstand operational expenses over a period of time during which the CSD is able to reorganise its critical operations, including by recapitalising, replacing management, revising its business strategies, revising cost or fee structures and restructuring the services that it provides.
Za zagotovitev, da bi CDD po potrebi lahko ustrezno pripravila prestrukturiranje svojih dejavnosti ali urejeno prenehanje, mora vedno imeti zadosten kapital, vključno z zadržanim dobičkom in rezervami, za kritje operativnih stroškov v obdobju, v katerem bi lahko izvedla reorganizacijo svojih kritičnih dejavnosti, vključno z dokapitalizacijo, zamenjavo upravnih organov, revidiranjem svojih poslovnih strategij, stroškovnih struktur ali struktur pristojbin in prestrukturiranjem storitev, ki jih opravlja.
Given that during the winding-down or restructuring of its activities, a CSD still needs to continue its usual operations and even though the actual expenses during a wind-down or restructuring of the operations of a CSD may be significantly higher than the gross annual operational expenses because of the restructuring or wind-down costs, the use of gross annual operational expenses as a benchmark for calculating the capital required should be an appropriate approximation of the actual expenses during the winding-down or restructuring of the operations of a CSD.
Ker mora CDD med prenehanjem ali prestrukturiranjem svojih dejavnosti še vedno opravljati svoje običajne dejavnosti in čeprav so lahko dejanski stroški prenehanja ali prestrukturiranja dejavnosti CDD precej višji od bruto letnih operativnih stroškov, in sicer zaradi stroškov prestrukturiranja ali prenehanja, bi se morala uporaba bruto letnih operativnih stroškov kot merila za izračun zahtevanega kapitala šteti za ustrezen približek dejanskih stroškov prenehanja ali prestrukturiranja dejavnosti CDD.
Similarly to point (a) of Article 36(1) of Regulation (EU) No 575/2013, which requires institutions to deduct losses for the current financial year from the Common Equity Tier 1 capital, the role of net income in covering or absorbing the risks arising from adverse changes in the business conditions should also be recognised in this Regulation.
Podobno kot v točki (a) člena 36(1) Uredbe (EU) št. 575/2013, ki določa, da morajo institucije od navadnega lastniškega temeljnega kapitala odbiti izgube tekočega poslovnega leta, bi bilo treba tudi v tej uredbi priznati pomen neto prihodka pri kritju ali obvladovanju tveganj, ki izhajajo iz neugodnih sprememb v poslovnih razmerah.
Therefore, only in cases where the net income is insufficient to cover losses arising from the crystallisation of business risk, those losses have to be covered by own funds.
Zato je treba te izgube kriti s kapitalom samo v primerih, kadar neto prihodek ne zadostuje za kritje izgub, ki izhajajo iz natančne opredelitve poslovnega tveganja.
Expected figures for the current year to take into account new circumstances should also be considered where data from the previous year are not available, such as in the case of newly established CSDs.
Kadar niso na voljo podatki iz prejšnjih let, kot v primeru novoustanovljenih CDD, bi bilo treba upoštevati tudi pričakovane vrednosti za tekoče leto, ki izražajo nove okoliščine.
In line with similar provisions in Commission Delegated Regulation (EU) No 152/2013 [5], CSDs should be required to hold a minimum prudential amount of capital against business risk in order to guarantee a minimum prudential treatment.
V skladu s podobnimi določbami v Delegirani uredbi Komisije (EU) št. 152/2013 [5] bi bilo treba zahtevati, da imajo CDD minimalni bonitetni znesek kapitala za varovanje pred poslovnim tveganjem, da se zagotovi minimalna bonitetna obravnava.