natgillin/translations-raw huggingface dataset:
An MMF shall invest only in one or more of the following categories of financial assets and only under the conditions specified in this Regulation:
Sklad denarnega trga vlaga le v eno ali več naslednjih kategorij finančnih sredstev in le pod pogoji, določenimi v tej uredbi:
money market instruments including financial instruments issued or guaranteed separately or jointly by the Union, the national, regional and local administrations of the Member States or their central banks, the European Central Bank, the European Investment Bank, the European Investment Fund, the European Stability Mechanism, the European Financial Stability Facility, a central authority or central bank of a third country, the International Monetary Fund, the International Bank for Reconstruction and Development, the Council of Europe Development Bank, the European Bank for Reconstruction and Development, the Bank for International Settlements or any other relevant international financial institution or organisation to which one or more Member States belong;
instrumente denarnega trga, vključno s finančnimi instrumenti, ki jih izdajo ali zanje ločeno ali skupaj jamčijo Unija, nacionalni, regionalni in lokalni upravni organi držav članic ali njihove centralne banke, Evropska centralna banka, Evropska investicijska banka, Evropski investicijski sklad, Evropski mehanizem za stabilnost, Evropski instrument za finančno stabilnost, centralni organ ali centralna banka tretje države, Mednarodni denarni sklad, Mednarodna banka za obnovo in razvoj, Razvojna banka Sveta Evrope, Evropska banka za obnovo in razvoj, Banka za mednarodne poravnave ali katera koli druga ustrezna mednarodna finančna institucija ali organizacija, v katero so včlanjene ena ali več držav članic;
eligible securitisations and asset-backed commercial paper (ABCPs);
upravičena listinjenja in komercialne zapise s premoženjskim kritjem;
deposits with credit institutions;
depozite pri kreditnih institucijah;
financial derivative instruments;
izvedene finančne instrumente;
repurchase agreements that fulfil the conditions set out in Article 14;
pogodbe o začasni prodaji, ki izpolnjujejo pogoje iz člena 14;
reverse repurchase agreements that fulfil the conditions set out in Article 15;
pogodbe o začasnem odkupu, ki izpolnjujejo pogoje iz člena 15;
units or shares of other MMFs.
enote ali deleže drugih skladov denarnega trga.
An MMF shall not undertake any of the following activities:
Sklad denarnega trga ne opravlja nobene od naslednjih dejavnosti:
investing in assets other than those referred to in paragraph 1;
naložb v sredstva, ki niso navedena v odstavku 1;
short sale of any of the following instruments: money market instruments, securitisations, ABCPs and units or shares of other MMFs;
prodaje na kratko katerega od naslednjih instrumentov: instrumentov denarnega trga, listinjenj, komercialnih zapisov s premoženjskim kritjem in enot ali deležev drugih skladov denarnega trga;
taking direct or indirect exposure to equity or commodities, including via derivatives, certificates representing them, indices based on them, or any other means or instrument that would give an exposure to them;
prevzemanja neposredne ali posredne izpostavljenosti lastniškemu kapitalu ali borznemu blagu, vključno prek izvedenih finančnih instrumentov, potrdil, ki ju predstavljajo, indeksov, ki temeljijo na njiju, ali drugih sredstev ali instrumentov, ki bi povzročili izpostavljenost;
entering into securities lending agreements or securities borrowing agreements, or any other agreement that would encumber the assets of the MMF;
sklepanja pogodb o posojilu vrednostnih papirjev ali katere koli druge pogodbe, ki bi obremenila sredstva sklada denarnega trga;
borrowing and lending cash.
izposojanja in posojanja denarnih sredstev.
An MMF may hold ancillary liquid assets in accordance with Article 50(2) of Directive 2009/65/EC.
Sklad denarnega trga ima lahko dodatna likvidna sredstva v skladu s členom 50(2) Direktive 2009/65/ES.
Eligible money market instruments
Upravičeni instrumenti denarnega trga
A money market instrument shall be eligible for investment by an MMF provided that it fulfils all of the following requirements:
Instrument denarnega trga je upravičen za naložbe sklada denarnega trga, če izpolnjuje vse naslednje zahteve:
it falls within one of the categories of money market instruments referred to in point (a), (b), (c) or (h) of Article 50(1) of Directive 2009/65/EC;
sodi v eno od kategorij instrumentov denarnega trga iz točke (a), (b), (c) ali (h) člena 50(1) Direktive 2009/65/ES;
it displays one of the following alternative characteristics:
ima eno od naslednjih alternativnih značilnosti:
it has a legal maturity at issuance of 397 days or less;
njegov zakonski rok zapadlosti ob izdaji je 397 dni ali manj;
it has a residual maturity of 397 days or less;
njegova preostala zapadlost je 397 dni ali manj;
the issuer of the money market instrument and the quality of the money market instrument have received a favourable assessment pursuant to Articles 19 to 22;
izdajatelj instrumenta denarnega trga in kakovost instrumenta denarnega trga sta na podlagi členov 19 do 22 prejela ugodno oceno;
where an MMF invests in a securitisation or ABCP, it is subject to the requirements laid down in Article 11.
kadar sklad denarnega trga vlaga v listinjenje ali komercialni zapis s premoženjskim kritjem, zanj veljajo zahteve iz člena 11.
Notwithstanding point (b) of paragraph 1, standard MMFs shall also be allowed to invest in money market instruments with a residual maturity until the legal redemption date of less than or equal to 2 years, provided that the time remaining until the next interest rate reset date is 397 days or less.
Ne glede na točko (b) odstavka 1 tudi standardni skladi denarnega trga lahko vlagajo v instrumente denarnega trga s preostalo zapadlostjo dveh let ali manj do datuma rednega odkupa, če je do datuma naslednje uskladitve obrestne mere 397 dni ali manj.
For that purpose, floating-rate money-market instruments and fixed-rate money-market instruments hedged by a swap arrangement shall be reset to a money market rate or index.
V ta namen se instrumenti denarnega trga s spremenljivo obrestno mero in instrumenti denarnega trga s fiksno obrestno mero, ki so zavarovani z valutno zamenjavo, uskladijo z obrestno mero ali indeksom na denarnem trgu.
Point (c) of paragraph 1 shall not apply to money market instruments issued or guaranteed by the Union, a central authority or central bank of a Member State, the European Central Bank, the European Investment Bank, the European Stability Mechanism or the European Financial Stability Facility.
Točka (c) odstavka 1 ne velja za instrumente denarnega trga, ki jih izda ali za katere jamči Unija, centralni organ ali centralna banka države članice, Evropska centralna banka, Evropska investicijska banka, Evropski mehanizem za stabilnost ali Evropski instrument za finančno stabilnost.
Eligible securitisations and ABCPs
Upravičena listinjenja in komercialni zapisi s premoženjskim kritjem
Both a securitisation and an ABCP shall be considered to be eligible for investment by an MMF provided that the securitisation or ABCP is sufficiently liquid, has received a favourable assessment pursuant to Articles 19 to 22, and is any of the following:
Listinjenje in komercialni zapis s premoženjskim kritjem se štejeta za upravičena za naložbe sklada denarnega trga, če je listinjenje ali komercialni zapis s premoženjskim kritjem dovolj likviden, če je prejel ugodno oceno na podlagi členov 19 do 22 in če je kar koli od naslednjega:
a securitisation referred to in Article 13 of Commission Delegated Regulation (EU) 2015/61 [16];
listinjenje iz člena 13 Delegirane uredbe Komisije (EU) 2015/61 [16];
an ABCP issued by an ABCP programme which:
komercialni zapis s premoženjskim kritjem, ki ga je izdal program komercialnih zapisov s premoženjskim kritjem in ki:
is fully supported by a regulated credit institution that covers all liquidity, credit and material dilution risks, as well as ongoing transaction costs and ongoing programme-wide costs related to the ABCP, if necessary to guarantee the investor the full payment of any amount under the ABCP;
ga v celoti podpira regulirana kreditna institucija, ki pokriva vsa likvidnostna in kreditna tveganja ter tveganja razvodenitve olistinjenih izpostavljenosti, pa tudi tekoče stroške transakcij in tekoče stroške na ravni celotnega programa v zvezi s komercialnim zapisom s premoženjskim kritjem, da vlagatelju po potrebi zagotovi izplačilo celotnega zneska v okviru komercialnega zapisa s premoženjskim kritjem;
is not a re-securitisation and the exposures underlying the securitisation at the level of each ABCP transaction do not include any securitisation position;
ni relistinjenje, izpostavljenost, na kateri temelji listinjenje na ravni vsake transakcije komercialnega zapisa s premoženjskim kritjem, pa ne zajema pozicije v listinjenju;
does not include a synthetic securitisation as defined in point (11) of Article 242 of Regulation (EU) No 575/2013;
ne zajema sintetičnega listinjenja, kot je opredeljeno v točki 11 člena 242 Uredbe (EU) št. 575/2013;
a simple, transparent and standardised (STS) securitisation or ABCP.
preprosto, pregledno in standardizirano (STS) listinjenje ali komercialni zapis s premoženjskim kritjem.
A short-term MMF may invest in the securitisations or ABCPs referred to in paragraph 1 provided any of the following conditions is fulfilled, as applicable:
Kratkoročni sklad denarnega trga lahko vlaga v listinjenja ali komercialne zapise s premoženjskim kritjem iz odstavka 1, če je, odvisno od primera, izpolnjen kateri od naslednjih pogojev:
the legal maturity at issuance of the securitisations referred to in point (a) of paragraph 1 is 2 years or less and the time remaining until the next interest rate reset date is 397 days or less;
zakonski rok zapadlosti ob izdaji listinjenj iz točke (a) odstavka 1 je dve leti ali manj, preostali čas do datuma naslednje uskladitve obrestne mere pa je 397 dni ali manj;
the legal maturity at issuance or residual maturity of the securitisations or ABCPs referred to in points (b) and (c) of paragraph 1 is 397 days or less;
zakonski rok zapadlosti ob izdaji ali preostala zapadlost listinjenj ali komercialnih zapisov s premoženjskim kritjem iz točk (b) in (c) odstavka 1 znaša 397 dni ali manj;
the securitisations referred to in points (a) and (c) of paragraph 1 are amortising instruments and have a WAL of 2 years or less.
listinjenja iz točk (a) in (c) odstavka 1 so instrumenti, ki se odplačajo, in imajo WAL dveh let ali manj.
A standard MMF may invest in the securitisations or ABCPs referred to in paragraph 1 provided any of the following conditions is fulfilled, as applicable:
Standardni sklad denarnega trga lahko vlaga v listinjenja ali komercialne zapise s premoženjskim kritjem iz odstavka 1, če je, odvisno od primera, izpolnjen kateri od naslednjih pogojev:
the legal maturity at issuance or residual maturity of the securitisations and ABCPs referred to in points (a), (b) and (c) of paragraph 1 is 2 years or less and the time remaining until the next interest rate reset date is 397 days or less;
zakonski rok zapadlosti ob izdaji ali preostala zapadlost listinjenj in komercialnih zapisov s premoženjskim kritjem iz točk (a), (b) in (c) odstavka 1 je dve leti ali manj, preostali čas do datuma naslednje uskladitve obrestne mere pa je 397 dni ali manj;
The Commission shall adopt, by 6 months from the date of entry into force of the proposed Regulation on STS securitisations, a delegated act in accordance with Article 45 amending this Article by introducing a cross-reference to the criteria identifying STS securitisations and ABCPs in the corresponding provisions of that Regulation.
Komisija šest mesecev od dneva začetka veljavnosti predlagane uredbe o STS listinjenjih sprejme delegirani akt v skladu s členom 45 za spremembo tega člena z uvedbo sklicevanja na merila za opredelitev STS listinjenj in komercialnih zapisov s premoženjskim kritjem v ustreznih določbah navedene uredbe.
The amendment shall become effective at the latest by 6 months after the date of entry into force of that delegated act or from the date of application of the corresponding provisions in the proposed Regulation on STS securitisations, whichever is the later.
Sprememba začne veljati najkasneje šest mesecev po dnevu začetka veljavnosti navedenega delegiranega akta ali od datuma začetka uporabe ustreznih določb v predlagani uredbi o STS listinjenjih, če slednje nastopi pozneje.
For the purposes of the first subparagraph, the criteria identifying STS securitisations and ABCPs shall include at least the following:
Za namene prvega pododstavka merila za določanje STS listinjenj in komercialnih zapisov s premoženjskim kritjem zajemajo najmanj naslednje:
requirements relating to the simplicity of the securitisation, including its true sale character and the respect of standards relating to the underwriting of the exposures;
zahteve v zvezi s preprostostjo listinjenja, vključno z njegovim značajem prave prodaje in spoštovanjem standardov v zvezi z zavarovanjem izpostavljenosti;
requirements relating to standardisation of the securitisation, including risk retention requirements;
zahteve v zvezi s standardizacijo listinjenja, vključno z zahtevami glede zadržanja tveganja;
requirements relating to the transparency of the securitisation, including the provision of information to potential investors;
zahteve v zvezi s preglednostjo listinjenja, vključno z zagotavljanjem informacij potencialnim vlagateljem;
for ABCPs, in addition to points (a), (b) and (c), requirements relating to the sponsor and to the sponsor support of the ABCP programme.
za komercialne zapise s premoženjskim kritjem, poleg točk (a), (b) in (c), zahteve v zvezi s sponzorjem in podporo sponzorjev za program komercialnih zapisov s premoženjskim kritjem.
Eligible deposits with credit institutions
Upravičeni depoziti pri kreditnih institucijah
A deposit with a credit institution shall be eligible for investment by an MMF provided that all of the following conditions are fulfilled:
Depozit pri kreditni instituciji je upravičen za naložbe sklada denarnega trga, če so izpolnjeni vsi naslednji pogoji:
the deposit is repayable on demand or is able to be withdrawn at any time;
depozit je izplačljiv na odpoklic ali mora vlagatelju dajati pravico do odpoklica;
the deposit matures in no more than 12 months;
depozit zapade v največ 12 mesecih;
the credit institution has its registered office in a Member State or, where the credit institution has its registered office in a third country, it is subject to prudential rules considered equivalent to those laid down in Union law in accordance with the procedure laid down in Article 107(4) of Regulation (EU) No 575/2013.
registrirani sedež kreditne institucije je v državi članici ali, če je registrirani sedež kreditne institucije v tretji državi, zanj veljajo pravila skrbnega in varnega poslovanja, ki se štejejo za enakovredna tistim iz prava Unije v skladu s postopkom iz člena 107(4) Uredbe (EU) št. 575/2013.
Eligible financial derivative instruments
Upravičeni izvedeni finančni instrumenti
A financial derivative instrument shall be eligible for investment by an MMF provided it is dealt in on a regulated market as referred to in point (a), (b) or (c) of Article 50(1) of Directive 2009/65/EC or OTC and provided that all of the following conditions are fulfilled:
Izvedeni finančni instrument je upravičen za naložbe sklada denarnega trga, če se z njim trguje na reguliranem trgu iz točke (a), (b) ali (c) člena 50(1) Direktive 2009/65/ES ali OTC in če so izpolnjeni vsi naslednji pogoji:
the underlying of the derivative instrument consists of interest rates, foreign exchange rates, currencies or indices representing one of those categories;
osnovo izvedenega finančnega instrumenta sestavljajo obrestne mere, devizni tečaji, valute ali indeksi, ki predstavljajo eno od teh kategorij;
the derivative instrument serves only the purpose of hedging the interest rate or exchange rate risks inherent in other investments of the MMF;
edini namen izvedenega instrumenta je varovanje pred obrestnim ali valutnim tveganjem, povezanim z drugimi naložbami sklada denarnega trga;
the counterparties to OTC derivative transactions are institutions subject to prudential regulation and supervision and belonging to the categories approved by the competent authority of the MMF;
nasprotne stranke v poslih z izvedenimi finančnimi instrumenti OTC so institucije, ki so predmet pravil skrbnega in varnega poslovanja ter nadzora in sodijo v kategorije, ki jih odobri pristojni organ sklada denarnega trga;
the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or closed by an offsetting transaction at any time at their fair value at the MMF's initiative.
izvedeni finančni instrumenti OTC so predmet vsakodnevnega zanesljivega in preverljivega vrednotenja in jih je mogoče ob vsakem času prodati, odprodati ali kako drugače likvidirati ali zapreti z nasprotno izravnalno transakcijo po njihovi pošteni vrednosti na pobudo sklada denarnega trga.
Eligible repurchase agreements
Upravičene pogodbe o začasni prodaji
A repurchase agreement shall be eligible to be entered into by an MMF provided that all of the following conditions are fulfilled:
Sklad denarnega trga lahko sklene pogodbo o začasni prodaji le, če so izpolnjeni vsi naslednji pogoji:
it is used on a temporary basis, for no more than seven working days, only for liquidity management purposes and not for investment purposes other than as referred to in point (c);
se uporablja začasno, največ za sedem delovnih dni, in je namenjena le upravljanju likvidnosti in ne naložbam, razen tistih iz točke (c);
the counterparty receiving assets transferred by the MMF as collateral under the repurchase agreement is prohibited from selling, investing, pledging or otherwise transferring those assets without the MMF's prior consent;
nasprotna stranka, ki v okviru pogodbe o začasni prodaji prejme sredstva sklada denarnega trga kot zavarovanje, jih ne sme prodati, vložiti, zastaviti ali drugače prenesti brez predhodnega soglasja sklada denarnega trga;
the cash received by the MMF as part of the repurchase agreement is able to be:
se lahko denarna sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasni prodaji:
placed on deposits in accordance with point (f) of Article 50(1) of Directive 2009/65/EC; or
vloži v depozite v skladu s točko (f) člena 50(1) Direktive 2009/65/ES ali
invested in assets referred to in Article 15(6), but shall not otherwise be invested in eligible assets as referred to in Article 9, transferred or otherwise reused;
vloži v sredstva iz člena 15(6), ne sme pa se jih vložiti v upravičena sredstva iz člena 9, prenesti ali ponovno uporabiti kako drugače;
the cash received by the MMF as part of the repurchase agreement does not exceed 10 % of its assets;
denarna sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasni prodaji, ne presegajo 10 % njegovega premoženja;
the MMF has the right to terminate the agreement at any time upon giving prior notice of no more than two working days.
sklad denarnega trga lahko kadar koli prekine pogodbo po predhodnem obvestilu, poslanem največ dva delovna dneva pred prekinitvijo.
Eligible reverse repurchase agreements
Upravičene pogodbe o začasnem odkupu
A reverse repurchase agreement shall be eligible to be entered into by an MMF provided that all of the following conditions are fulfilled:
Sklad denarnega trga lahko sklene pogodbo o začasnem odkupu le, če so izpolnjeni vsi naslednji pogoji:
the MMF has the right to terminate the agreement at any time upon giving prior notice of no more than two working days;
sklad denarnega trga lahko kadar koli prekine pogodbo po predhodnem obvestilu, poslanem največ dva delovna dneva pred prekinitvijo;
the market value of the assets received as part of the reverse repurchase agreement is at all times at least equal to the value of the cash paid out.
tržna vrednost sredstev, prejetih v okviru pogodbe o začasnem odkupu, je vedno vsaj enaka vrednosti denarnih sredstev, ki je izplačana.
The assets received by an MMF as part of a reverse repurchase agreement shall be money market instruments that fulfil the requirements set out in Article 10.
Sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasnem odkupu, so instrumenti denarnega trga, ki izpolnjujejo zahteve iz člena 10.
The assets received by an MMF as part of a reverse repurchase agreement shall not be sold, reinvested, pledged or otherwise transferred.
Sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasnem odkupu, se ne prodajo, reinvestirajo, zastavijo ali kako drugače prenesejo.
Securitisations and ABCPs shall not be received by an MMF as part of a reverse repurchase agreement.
Sklad denarnega trga kot del pogodbe o začasnem odkupu ne sprejme listinjenj in komercialnih zapisov s premoženjskim kritjem.
The assets received by an MMF as part of a reverse repurchase agreement shall be sufficiently diversified with a maximum exposure to a given issuer of 15 % of the MMF's NAV, except where those assets take the form of money market instruments that fulfil the requirements of Article 17(7).
Sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasnem odkupu, so dovolj diverzificirana, pri čemer izpostavljenost do določenega izdajatelja znaša največ 15 % NVS sklada denarnega trga, razen če imajo ta sredstva obliko instrumentov denarnega trga, ki izpolnjujejo zahteve iz člena 17(7).
In addition, the assets received by an MMF as part of a reverse repurchase agreement shall be issued by an entity that is independent from the counterparty and is expected not to display a high correlation with the performance of the counterparty.
Poleg tega sredstva, ki jih sklad denarnega trga prejme v okviru pogodbe o začasnem odkupu, izda subjekt, ki je neodvisen od nasprotne stranke in za katerega se pričakuje, da ne bo izkazoval visoke korelacije z uspešnostjo nasprotne stranke.
An MMF that enters into a reverse repurchase agreement shall ensure that it is able to recall the full amount of cash at any time on either an accrued basis or a mark-to-market basis.
Sklad denarnega trga, ki sklene pogodbo o začasnem odkupu, zagotovi, da ima kadar koli dostop do celotnih denarnih sredstev na podlagi poslovnega dogodka ali vrednotenja po tržnih cenah.
When the cash is recallable at any time on a mark-to-market basis, the mark-to-market value of the reverse repurchase agreement shall be used for the calculation of the NAV of the MMF.
Če so denarna sredstva ob vsakem času dostopna na podlagi vrednotenja po tržnih cenah, se za izračun NVS sklada denarnega trga uporabi tržna vrednost pogodbe o začasnem odkupu.
By way of derogation from paragraph 2 of this Article, an MMF may receive as part of a reverse repurchase agreement liquid transferable securities or money market instruments other than those that fulfil the requirements set out in Article 10 provided that those assets comply with one of the following conditions:
Z odstopanjem od odstavka 2 tega člena lahko sklad denarnega trga kot del pogodbe o začasnem odkupu prejme likvidne prenosljive vrednostne papirje ali instrumente denarnega trga, razen tistih, ki izpolnjujejo zahteve iz člena 10, če ta sredstva izpolnjujejo enega od naslednjih pogojev:
they are issued or guaranteed by the Union, a central authority or central bank of a Member State, the European Central Bank, the European Investment Bank, the European Stability Mechanism or the European Financial Stability Facility provided that a favourable assessment has been received pursuant to Articles 19 to 22;
izda jih ali za njih jamči Unija, centralni organ ali centralna banka države članice, Evropska centralna banka, Evropska investicijska banka, Evropski mehanizem za stabilnost ali Evropski instrument za finančno stabilnost, če so prejela ugodno oceno v skladu s členi 19 do 22;
they are issued or guaranteed by a central authority or central bank of a third country, provided that a favourable assessment has been received pursuant to Articles 19 to 22.
izda jih ali za njih jamči centralni organ ali centralna banka tretje države, če so prejela ugodno oceno v skladu s členi 19 do 22.