natgillin/translations-raw huggingface dataset:
the value of financial instruments and financial contracts that reference the benchmark and the value of investment funds referencing the benchmark for measuring their performance within the Member State and their relevance in terms of the total value of financial instruments and of financial contracts outstanding, and of the total value of investment funds, in the Member State;
kateri koli drug številčni podatek za objektivno oceno morebitnega učinka prekinitve zagotavljanja ali nezanesljivosti referenčne vrednosti na celovitost trgov, finančno stabilnost, potrošnike, realno gospodarstvo ali financiranje gospodinjstev in podjetij v državi članici.
the value of financial instruments and financial contracts that reference the benchmark and the value of investment funds referencing the benchmark for measuring their performance within the Member State and their relevance in terms of the gross national product of the Member State;
Pristojni organ vsaj vsaki dve leti pregleda svojo oceno tega, kako ključna je referenčna vrednost v njegovi državi članici, in ESMA obvesti o novi oceni in mu jo posreduje.
any other figure to assess on objective grounds the potential impact of the discontinuity or unreliability of the benchmark on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in the Member State.
V šestih tednih po prejetju obvestila iz odstavka 2 ESMA izda mnenje o tem, ali ocena pristojnega organa izpolnjuje zahteve iz odstavka 3, in tako mnenje skupaj z oceno pristojnega organa posreduje Komisiji.
The competent authority shall review its assessment of the criticality of the benchmark at least every two years, and shall notify and transmit the new assessment to ESMA.
Komisija po prejetju mnenja iz odstavka 4 sprejme izvedbene akte v skladu z odstavkom 1.
Within six weeks of receipt of the notification referred to in paragraph 2, ESMA shall issue an opinion on whether the assessment of the competent authority complies with the requirements of paragraph 3 and shall transmit such opinion to the Commission, together with the competent authority's assessment.
Na Komisijo se prenese pooblastilo za sprejetje delegiranih aktov v skladu s členom 49, da:
The Commission, after receiving the opinion referred to in paragraph 4, shall adopt implementing acts in accordance with paragraph 1.
določi, kako se ocenjujejo nominalni znesek finančnih instrumentov, ki niso izvedeni finančni instrumenti, nominalni znesek izvedenih finančnih instrumentov in čista vrednost sredstev investicijskih skladov, vključno v primeru posrednega sklicevanja na referenčno vrednost znotraj kombinacije referenčnih vrednosti, da bi jih primerjali s pragovi, navedenimi v odstavku 1 tega člena in v točki (a) člena 24(1);
The Commission shall be empowered to adopt delegated acts in accordance with Article 49 in order to:
pregleda metodo izračuna, ki se uporablja za določitev pragov iz odstavka 1 tega člena glede na razvoj trga, cen in zakonodaje, pregleda pa tudi ustreznost razvrstitve referenčnih vrednosti, kadar je skupna vrednost finančnih instrumentov, finančnih pogodb ali investicijskih skladov, ki je zastopana v referenčnih vrednostih, blizu praga; tak pregled poteka vsaj vsaki dve leti od 1. januarja 2018;
specify how the nominal amount of financial instruments other than derivatives, the notional amount of derivatives and the net asset value of investment funds are to be assessed, including in the event of an indirect reference to a benchmark within a combination of benchmarks, in order to be compared with the thresholds referred to in paragraph 1 of this Article and in point (a) of Article 24(1);
določi, kako se uporabljajo merila iz točke (c)(iii) odstavka 1 tega člena, pri čemer upošteva vse podatke, ki pripomorejo pri določitvi objektivne ocene morebitnega učinka prekinitve zagotavljanja ali nezanesljivosti referenčne vrednosti na celovitost trgov, finančno stabilnost, potrošnike, realno gospodarstvo ali financiranje gospodinjstev in podjetij v eni ali več državah članicah.
review the calculation method used to determine the thresholds referred to in paragraph 1 of this Article in the light of market, price and regulatory developments as well as the appropriateness of the classification of benchmarks with a total value of financial instruments, financial contracts, or investment funds referencing them that is close to the thresholds; such review shall take place at least every two years as from 1 January 2018;
Kadar je primerno, Komisija upošteva pomemben razvoj trga ali tehnološki razvoj.
specify how the criteria referred to in point (c)(iii) of paragraph 1 of this Article are to be applied, taking into consideration any data which helps assess on objective grounds the potential impact of the discontinuity or unreliability of the benchmark on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in one or more Member States.
Člen 21
Where applicable, the Commission shall take into account relevant market or technological developments.
Obvezno upravljanje ključne referenčne vrednosti
Article 21
Če namerava upravljavec ključne referenčne vrednosti prenehati njeno zagotavljanje, potem upravljavec:
Mandatory administration of a critical benchmark
nemudoma obvesti svoj pristojni organ; ter
If an administrator of a critical benchmark intends to cease providing such benchmark, the administrator shall:
v štirih tednih od takega obvestila predloži oceno o tem, kako naj se referenčna vrednost:
immediately notify its competent authority; and
prenese na novega upravljavca; ali
within four weeks of such notification submit an assessment of how the benchmark:
preneha zagotavljati, pri tem pa upošteva postopek, določen v členu 28(1).
is to be transitioned to a new administrator; or
Upravljavec v obdobju iz točke (b) prvega pododstavka ne preneha zagotavljati referenčne vrednosti.
is to be ceased to be provided, taking into account the procedure established in Article 28(1).
Pristojni organ po prejemu ocene upravljavca iz odstavka 1:
During the period referred to in point (b) of the first subparagraph, the administrator shall not cease provision of the benchmark.
obvesti ESMA in po potrebi kolegij, ustanovljen na podlagi člena 46; ter
Upon receipt of the assessment of the administrator referred to in paragraph 1, the competent authority shall:
v štirih tednih pripravi lastno oceno o tem, kako naj se referenčna vrednost prenese na novega upravljavca ali preneha zagotavljati, pri tem pa upošteva postopek, določen v skladu s členom 28(1).
inform ESMA and, where applicable, the college established under Article 46; and
Upravljavec v obdobju iz točke (b) prvega pododstavka tega odstavka ne preneha zagotavljati referenčne vrednosti brez pisnega soglasja pristojnega organa.
within four weeks, make its own assessment of how the benchmark is to be transitioned to a new administrator or be ceased to be provided, taking into account the procedure established in accordance with Article 28(1).
Pristojni organ ima po zaključku ocene iz točke (b) odstavka 2 pooblastilo, da od upravljavca zahteva, da še naprej objavlja referenčno vrednost, dokler:
During the period of time referred to in point (b) of the first subparagraph of this paragraph, the administrator shall not cease the provision of the benchmark without the written consent of the competent authority.
se zagotavljanje referenčne vrednosti ne prenese na novega upravljavca;
Following completion of the assessment referred to in point (b) of paragraph 2, the competent authority shall have the power to compel the administrator to continue publishing the benchmark until such time as:
se referenčna vrednost lahko pravilno preneha zagotavljati; ali
the provision of the benchmark has been transitioned to a new administrator;
referenčna vrednost ni več ključna.
the benchmark can be ceased to be provided in an orderly fashion; or
Za namene prvega pododstavka obdobje, za katerega lahko pristojni organ zahteva od upravljavca, da nadaljuje objavljanje referenčne vrednosti, ne presega 12 mesecev.
the benchmark is no longer critical.
Do izteka tega obdobja pristojni organ pregleda svojo odločitev o tem, da od upravljavca zahteva nadaljnje objavljanje referenčne vrednosti, in lahko po potrebi obdobje ustrezno podaljša za največ nadaljnjih 12 mesecev.
For the purposes of the first subparagraph, the period for which the competent authority may compel the administrator to continue to publish the benchmark shall not exceed 12 months.
Najdaljše obdobje za obvezno upravljanje skupaj ne presega 24 mesecev.
By the end of that period, the competent authority shall review its decision to compel the administrator to continue to publish the benchmark and may, where necessary, extend the time period by an appropriate period not exceeding a further 12 months.
Brez poseganja v odstavek 1 pristojni organ v primeru, da upravljavec ključne referenčne vrednosti preneha delovati zaradi insolventnosti, oceni, ali in kako je mogoče ključno referenčno vrednost prenesti na novega upravljavca, ali pa se jo pravilno lahko preneha zagotavljati, pri čemer se upošteva postopek, določen v skladu s členom 28(1).
The maximum period of mandatory administration shall not exceed 24 months in total.
Člen 22
Without prejudice to paragraph 1, in the event that the administrator of a critical benchmark is to be wound down due to insolvency proceedings, the competent authority shall make an assessment of whether and how the critical benchmark can be transitioned to a new administrator or can cease to be provided in an orderly fashion, taking into account the procedure established in accordance with Article 28(1).
Blaženje tržne moči upravljavcev ključnih referenčnih vrednosti
Article 22
Brez poseganja v uporabo konkurenčnega prava Unije upravljavec pri zagotavljanju ključne referenčne vrednosti sprejme ustrezne ukrepe za zagotovitev, da se dovoljenja za referenčno vrednost in informacije, ki se nanjo nanašajo, zagotovijo vsem uporabnikom pošteno, razumljivo, pregledno in nediskriminatorno.
Mitigation of market power of critical benchmark administrators
Člen 23
Without prejudice to the application of Union competition law, when providing a critical benchmark, the administrator shall take adequate steps to ensure that licences of, and information relating to, the benchmark are provided to all users on a fair, reasonable, transparent and non-discriminatory basis.
Obvezno prispevanje h ključni referenčni vrednosti
Article 23
Ta člen se uporablja za ključne referenčne vrednosti, ki temeljijo na predloženih podatkih prispevajočih oseb, katerih večina so nadzorovani subjekti.
Mandatory contribution to a critical benchmark
Upravljavec ene ali več ključnih referenčnih vrednosti svojemu pristojnemu organu vsaki dve leti predloži oceno zmožnosti vsake ključne referenčne vrednosti, ki jo zagotavlja, da je lahko merilo dejanskega tržnega ali gospodarskega stanja.
This Article shall apply to critical benchmarks based on submissions by contributors the majority of which are supervised entities.
Če nadzorovana prispevajoča oseba podatkov za ključno referenčno vrednost namerava prenehati prispevati vhodne podatke, o tem nemudoma pisno obvesti upravljavca referenčne vrednosti, ki nemudoma obvesti svoj pristojni organ.
Administrators of one or more critical benchmarks shall, every two years, submit to their competent authority an assessment of the capability of each critical benchmark they provide to measure the underlying market or economic reality.
Kadar ima nadzorovana prispevajoča oseba sedež v drugi državi članici, pristojni organ upravljavca o tem nemudoma obvesti pristojni organ te prispevajoče osebe.
If a supervised contributor to a critical benchmark intends to cease contributing input data, it shall promptly notify in writing the benchmark administrator, which shall inform without delay its competent authority.
Upravljavec referenčne vrednosti svojemu pristojnemu organu čim prej in najpozneje 14 dni po obvestilu nadzorovane prispevajoče osebe predloži oceno posledic za zmožnost, da referenčna vrednost meri dejansko tržno ali gospodarsko stanje.
Where the supervised contributor is located in another Member State, the competent authority of the administrator shall inform, without delay, the competent authority of that contributor.
Pristojni organ upravljavca po prejemu in na podlagi ocene upravljavca referenčne vrednosti iz odstavkov 2 in 3 tega člena nemudoma obvesti ESMA in po potrebi kolegij, ustanovljen na podlagi člena 46, ter pripravi svojo oceno o zmožnosti, da referenčna vrednost meri dejansko tržno in gospodarsko stanje, pri čemer upošteva postopek upravljavca za prenehanje referenčne vrednosti, kakor je določen v skladu s členom 28(1).
The benchmark administrator shall submit to its competent authority an assessment of the implications on the capability of the benchmark to measure the underlying market or economic reality as soon as possible but no later than 14 days after the notification made by the supervised contributor.
Od datuma, ko je pristojni organ upravljavca obveščen o nameri prispevajoče osebe, da bo prenehal prispevati vhodne podatke, in dokler ocena iz odstavka 4 ni končana, ima pooblastilo, da od prispevajočih oseb, ki so v skladu z odstavkom 3 priglasili namero, zahteva, da še naprej prispevajo vhodne podatke, v vsakem primeru največ štiri tedne, ne da bi nadzorovanim subjektom naložil obveznost, da morajo trgovati ali se zavezati trgovanju.
Upon receipt of an assessment of the benchmark administrator referred to in paragraphs 2 and 3 of this Article and on the basis of such assessment, the competent authority of the administrator shall promptly inform ESMA and, where applicable, the college established under Article 46, and make its own assessment on the capability of the benchmark to measure the underlying market and economic reality, taking into account the administrator's procedure for cessation of the benchmark established in accordance with Article 28(1).
Če pristojni organ po obdobju, navedenem v odstavku 5, in na podlagi svoje ocene iz odstavka 4 meni, da je ogrožena reprezentativnost ključne referenčne vrednosti, je pooblaščen, da:
From the date on which the competent authority of the administrator is notified of the intention of a contributor to cease contributing input data and until such time as the assessment referred to in paragraph 4 is complete, it shall have the power to require the contributors which made the notification in accordance with paragraph 3 to continue contributing input data, in any event for a period of no more than four weeks, without imposing an obligation on supervised entities to either trade or commit to trade.
zahteva, da nadzorovani subjekti, izbrani v skladu z odstavkom 7 tega člena, vključno s subjekti, ki še niso prispevajoče osebe podatkov za zadevno ključno referenčno vrednost, prispevajo vhodne podatke upravljavcu v skladu z metodologijo upravljavca, kodeksom ravnanja iz člena 15 in drugimi pravili.
In the event that the competent authority, after the period specified in paragraph 5 and on the basis of its own assessment referred to in paragraph 4, considers that the representativeness of a critical benchmark is put at risk, it shall have the power to:
Taka zahteva velja za ustrezno obdobje, ki ne presega 12 mesecev od datuma, ko je bila sprejeta prvotna odločitev za obvezno prispevanje na podlagi odstavka 5 ali, za subjekte, ki še niso prispevajoče osebe, od datuma, ko je odločitev za obvezno prispevanje sprejeta na podlagi te točke;
require supervised entities selected in accordance with paragraph 7 of this Article, including entities that are not yet contributors to the relevant critical benchmark, to contribute input data to the administrator in accordance with the administrator's methodology, the code of conduct referred to in Article 15 and other rules.
podaljša obdobje obveznega prispevanja za ustrezno obdobje, ki ne presega 12 mesecev, in sicer po pregledu na podlagi odstavka 9, s katerim so se pregledali vsi ukrepi, sprejeti na podlagi točke (a) tega odstavka;
Such requirement shall be in place for an appropriate period of time not exceeding 12 months from the date on which the initial decision requiring mandatory contribution was taken pursuant to paragraph 5 or, for those entities that are not yet contributors, from the date on which the decision requiring mandatory contribution is taken under this point;
določi način in čas, v katerem se prispevajo morebitni vhodni podatki, ne da bi pri tem nadzorovanim subjektom naložil obveznost, da morajo trgovati ali se zavezati trgovanju;
extend the period of mandatory contribution by an appropriate period of time not exceeding 12 months, following a review under paragraph 9 of any measures adopted pursuant to point (a) of this paragraph;
od upravljavca zahteva, da spremeni metodologijo, kodeks ravnanja iz člena 15 ali druga pravila ključne referenčne vrednosti.
determine the form in which, and the time by which, any input data is to be contributed without imposing an obligation on supervised entities to either trade or commit to trade;
Najdaljše obdobje za obvezno prispevanje iz točk (a) in (b) prvega pododstavka skupaj ne presega 24 mesecev.
require the administrator to change the methodology, the code of conduct referred to in Article 15 or other rules of the critical benchmark.
Nadzorovane subjekte, od katerih se zahteva, da prispevajo vhodne podatke, za namene odstavka 6 določi pristojni organ upravljavca, ob tesnem sodelovanju pristojnih organov nadzorovanih subjektov, na podlagi obsega dejanske in morebitne udeležbe nadzorovanega subjekta na trgu, ki naj bi se merila z referenčno vrednostjo.
The maximum period of mandatory contribution under points (a) and (b) of the first subparagraph shall not exceed 24 months in total.
Pristojni organ nadzorovane prispevajoče osebe, od katere se zahteva prispevanje podatkov za izračun referenčne vrednosti na podlagi ukrepov, sprejetih v skladu s točko (a), (b) ali (c) odstavka 6, sodeluje s pristojnim organom upravljavca pri izvrševanju takšnih ukrepov.
For the purposes of paragraph 6, supervised entities that are to be required to contribute input data shall be selected by the competent authority of the administrator, with the close cooperation of the competent authorities of the supervised entities, on the basis of the size of the supervised entity's actual and potential participation in the market that the benchmark intends to measure.
Pristojni organ upravljavca do izteka obdobja iz točke (a) prvega pododstavka odstavka 6 pregleda ukrepe, sprejete na podlagi odstavka 6.
The competent authority of a supervised contributor that has been required to contribute to a benchmark through measures taken in accordance with point (a), (b) or (c) of paragraph 6 shall cooperate with the competent authority of the administrator in the enforcement of such measures.
Ukrep prekliče, če meni, da:
By the end of the period referred to in point (a) of the first subparagraph of paragraph 6, the competent authority of the administrator shall review the measures adopted under paragraph 6.
obstaja verjetnost, da bodo prispevajoče osebe še naprej prispevale vhodne podatke vsaj eno leto, če bi bil ukrep preklican, kar se dokaže vsaj s:
It shall revoke any of them if it considers that:
pisno zavezo prispevajočih oseb upravljavcu in pristojnemu organu, da bodo še naprej prispevali vhodne podatke za izračun ključne referenčne vrednosti vsaj eno leto, če bi bil ukrep preklican;
the contributors are likely to continue contributing input data for at least one year if the measure were revoked, which shall be evidenced by at least:
pisnim poročilom upravljavca pristojnemu organu, ki bi potrdilo njegovo oceno, da je mogoče zagotoviti nadaljnji obstoj ključne referenčne vrednosti, potem ko bi bilo obvezno prispevanje preklicano;
a written commitment by the contributors to the administrator and the competent authority to continue contributing input data to the critical benchmark for at least one year if the measure were revoked;
se lahko referenčna vrednost zagotavlja po tem, ko prispevajoče osebe, ki so k temu obvezane, prenehajo prispevati vhodne podatke;
a written report by the administrator to the competent authority providing evidence for its assessment that the critical benchmark's continued viability can be assured once mandatory contribution has been revoked;
je na voljo sprejemljiva nadomestna referenčna vrednost in da lahko uporabniki ključne referenčne vrednosti to nadomestno referenčno vrednost začnejo uporabljati z minimalnimi stroški, kar se dokaže vsaj s pisnim poročilom upravljavca, v katerem so natančno opredeljeni načini prehoda na nadomestno referenčno vrednost ter sposobnost in stroški, ki jih imajo uporabniki zaradi prehoda na to referenčno vrednost; ali
the provision of the benchmark is able to continue once the contributors mandated to contribute input data have ceased contributing;
ni mogoče najti ustreznih alternativnih prispevajočih oseb in da bi prenehanje prispevkov od zadevnih nadzorovanih subjektov oslabilo referenčno vrednost v taki meri, da bi jo bilo treba prenehati zagotavljati.
an acceptable substitute benchmark is available and users of the critical benchmark can switch to this substitute at minimal costs which shall be evidenced by at least a written report by the administrator detailing the means of transition to a substitute benchmark and the ability and costs to users of transitioning to this benchmark; or
Če se ključna referenčna vrednost preneha zagotavljati, vsaka nadzorovana prispevajoča oseba za to referenčno vrednost nadaljuje s prispevanjem vhodnih podatkov za obdobje, ki ga določi pristojni organ, ki pa ne presega najdaljšega 24-mesečnega obdobja iz drugega pododstavka odstavka 6.
no appropriate alternative contributors can be identified and the cessation of contributions from the relevant supervised entities would weaken the benchmark to such an extent to require the cessation of the benchmark.
Če katera koli prispevajoča oseba krši zahteve iz odstavka 6, upravljavec o tem obvesti ustrezni pristojni organ, takoj ko je to objektivno mogoče.
In the event that a critical benchmark is to be ceased to be provided, each supervised contributor to that benchmark shall continue to contribute input data for a period of time determined by the competent authority, but not exceeding the maximum 24-month period laid down in the second subparagraph of paragraph 6.
Če je referenčna vrednost priznana kot ključna v skladu s postopkom iz člena 20(2), (3), (4) in (5), je pristojni organ upravljavca pooblaščen, da prispevanje vhodnih podatkov v skladu z odstavkom 5 in točkami (a), (b) in (c) odstavka 6 tega člena zahteva samo od nadzorovanih prispevajočih oseb s sedežem v svoji državi članici.
The administrator shall notify the relevant competent authority in the event that any contributors breach the requirements set out in paragraph 6 as soon as reasonably possible.
POGLAVJE 5
In the event that a benchmark is recognised as critical in accordance with the procedure laid down in Article 20(2), (3), (4) and (5), the competent authority of the administrator shall have the power to require input data in accordance with paragraph 5, and points (a), (b) and (c) of paragraph 6, of this Article only from supervised contributors located in its Member State.
Pomembne referenčne vrednosti
Significant benchmarks
Referenčna vrednost, ki ne izpolnjuje nobenega od pogojev, določenih v členu 20(1), je pomembna, ko:
Article 24
se neposredno ali posredno uporablja v kombinaciji referenčnih vrednosti kot sklicevanje pri finančnih instrumentih ali finančnih pogodbah ali za merjenje uspešnosti investicijskih skladov, katerih skupna povprečna vrednost je vsaj 50 milijard EUR na podlagi celotnega razpona zapadlosti referenčne vrednosti ali rokov zapadlosti v šestmesečnem obdobju, kadar je to primerno; ali