natgillin/translations-raw huggingface dataset:
As in many cases custodian banks play an important role in the CCBM processing chain by delivering the collateral to the CCB on behalf of the counterparty ( see step 3 ) , the major European credit sector associations ( the European Banking Federation , the European Savings Bank Group and the European Association of Co-operative Banks ) have established « best practices » for custodian banks involved in CCBM transactions .
V številnih primerih imajo banke skrbnice pomembno vlogo v verigi postopkov CCBM , saj korespondenčni centralni banki v imenu nasprotne stranke dostavijo finančno premoženje za namen zavarovanja ( glej 3 . korak ) , zato so glavna združenja evropskega bančnega sektorja ( Evropska zveza bank , Evropska skupina hranilnic in Evropska zveza zadružnih bank ) razvila „najboljšo prakso » za banke skrbnice , ki sodelujejo v transakcijah CCBM .
These provide market participants with guidelines for optimising the efficiency of the CCBM ( e.g. time benchmarks , clear input deadlines and communication channels , etc .) .
Ta udeležencem na trgu ponuja smernice za doseganje optimalne učinkovitosti CCBM ( tj .
The best practices , presented in the Box , entered into force in May 2005 . As a result of the efforts both of central banks and of most of the custodians banks involved in
časovna merila , jasno določene roke za oddajo navodil in komunikacijske poti itd . ) Načela najboljše prakse , predstavljena v okviru , so začela veljati maja 2005 .
3 Including margin calls , valuation haircuts , etc. 4 Danmarks Nationalbank , Sveriges Riksbank and the Bank of England are encouraged to meet the benchmark on a best effort basis but are not obliged to further invest in the CCBM .
3 Vključno s pozivi h kritju , odbitki pri vrednotenju , itd . 4 Prizadevanja Danmarks Nationalbank , Sveriges Riksbank in Bank of England za izpolnitev norm so dobrodošla , vendar nadaljnja vlaganja v CCBM niso obvezna .
cECB Correspondent central banking model ( CCBM ) May 2005 7
ECB Korespondenčni centralnobančni model ( CCBM ) maj 2005
Box
Okvir
BEST PRACTICES FOR MARKET PARTICIPANTS INVOLVED IN CCBM OPERATIONS AS AGREED BY THE EUROPEAN BANKING FEDERATION , THE EUROPEAN SAVINGS BANK GROUP AND THE EUROPEAN ASSOCIATION OF CO-OPERATIVE BANKS 1 .
NAJBOLJŠA PRAKSA ZA UDELEŽENCE NA TRGU , KI SODELUJEJO V POSTOPKIH CCBM , KOT SO JO DOLOČILE EVROPSKA ZVEZA BANK , EVROPSKA SKUPINA HRANILNIC IN EVROPSKA ZVEZA ZADRUŽNIH BANK 1 .
Custodians shall ensure that their customers are informed of their rules / procedures for CCBM-related instructions .
Skrbniki zagotovijo , da so njihove stranke obveščene o njihovih pravilih / postopkih glede navodil v okviru CCBM .
These rules / procedures shall be based , to the largest extent possible , on the official local market practices .
Ta pravila / postopki naj se kar najbolj ravnajo po uradnih lokalnih tržnih praksah .
Customers must abide by these rules / procedures to ensure a swift and efficient processing of their instructions .
Za zagotovitev hitrega in učinkovitega posredovanja svojih navodil se morajo stranke držati teh pravil / postopkov .
Whenever possible , the processing of CCBM instructions should rely on automatic procedures .
Če je le mogoče , naj posredovanje navodil CCBM temelji na avtomatskih postopkih .
In this respect , electronic communication channels between custodians and their customers shall be used to the largest extent possible and instructions shall be based on ISO 15022 standards .
Pri tem se med skrbniki in njihovimi strankami v največji možni meri uporabljajo elektronske komunikacijske poti , navodila pa temeljijo na standardih ISO 15022 .
Under normal circumstances and on a best effort basis , custodians shall submit their customers » CCBM-related instructions to the local SSS within 30 minutes of their receipt provided that the instructions are complete and correct , and that the customer has the securities to be delivered .
V normalnih okoliščinah naj skrbniki poskrbijo , da lokalnemu sistemu poravnave poslov z vrednostnimi papirji predložijo navodila svojih strank v okviru CCBM v 30 minutah po prejemu , če so navodila popolna in pravilna ter stranka ima vrednostne papirje , ki jih je treba izročiti .
Custodian deadlines for same-day processing of their customers » CCBM-related instructions shall be 30 minutes before the deadline of the relevant local SSS ( see the regularly updated country tables on the ECB 's website at www.ecb.int ) .
Rok za skrbnike pri obdelavi navodil strank v okviru CCBM v istem dnevu je 30 minut pred rokom lokalnega sistema poravnave poslov z vrednostnimi papirji ( glej redno dopolnjevano razpredelnico držav na spletni strani ECB na www.ecb.int ) .
However , as good practice , customers are encouraged to submit their instructions well in advance of the custodian 's deadline in order to avoid building up instruction queues and to provide the custodian with sufficient time to react to mistakes or unforeseen problems .
Priporočljivo je , da stranke svoja navodila predložijo precej pred skrbnikovim rokom , saj se tako navodila ne kopičijo in ima skrbnik dovolj časa , da odpravi napake ali nepredvidene težave .
Market participants shall ensure that information is readily available to their customers to enable them to monitor the status of their CCBM instructions .
Udeleženci na trgu naj zagotovijo , da so informacije njihovim strankam vedno na voljo in jim omogočijo , da spremljajo , v kateri fazi so navodila CCBM .
Custodians shall agree with their customers on the usage of the code « CNCB » -- for central bank collateral management -- as a way of identifying and prioritising ( when necessary ) CCBM-related instructions .
Skrbniki se s svojimi strankami dogovorijo o uporabi kode „CNCB » -- ki označuje upravljanje zavarovanja centralnih bank -- kot načinu identificiranja in ( po potrebi ) dajanja prednosti navodilom CCBM .
This code , based on ISO 15022 standards , is present in field 22F , in the mandatory sequence E -- Settlement , and indicates that the transaction relates to a CCBM collateral delivery / receipt to a national central bank .
Ta koda , ki temelji na standardu ISO 15022 , je v polju 22F , v obveznem sklopu E -- Poravnava , in kaže , da se transakcija nanaša na dostavo / prejem zavarovanja po modelu CCBM nacionalni centralni banki .
Given that the « CNCB » code allows custodians to recognise CCBM instructions as such , they shall inform their customers , on a best effort basis , of settlement problems within 15 minutes of their discovery .
Glede na to , da koda „CNCB » skrbnikom omogoča , da prepoznajo navodila CCBM , naj si ti prizadevajo , da v 15 minutah po odkritju težav s poravnavo o tem obvestijo svoje stranke .
CCBM operations , the average processing time for CCBM instructions amounts to little more than an hour , provided that instructions are submitted correctly by counterparties and that the SSSs can settle the operations without delay .
Kot rezultat prizadevanj centralnih bank in večine bank skrbnic , ki sodelujejo v postopkih CCBM , znaša povprečni čas obdelave navodil CCBM nekaj več kot eno uro , če so nasprotne stranke pravilno izdale navodila in lahko sistem poravnave poslov z vrednostnimi papirji pravočasno izvede postopek .
1.1 USING THE CCBM In principle , the use of the CCBM does not require counterparties to adopt special procedures ( beyond arranging the transfer of the securities in a different country ) .
1.1 UPORABA CCBM Nasprotnim strankam pri uporabi CCBM načeloma ni treba izvajati posebnih postopkov ( uredijo le prenos vrednostnih papirjev v drugi državi ) .
However , counterparties should be aware that market 8
Zavedati pa se morajo , da se lahko tržne prakse v drugih državah razlikujejo od tistih v njihovi državi .
practices in other countries may be different to those in their own country . In particular , they should be aware that different types of collateralisation technique ( repo or pledgetype arrangements ) and different methods of holding collateral ( pooled and earmarked collateral systems ) are used in the EU and that the CCB may use a different procedure from that of their local NCB .
tehnike zavarovanja ( košarica finančnega premoženja in sistem označevanja finančnega premoženja ) in da lahko korespondenčna centralna banka uporablja drugačen postopek od njihove lokalne NCB . Postopek , ki se bo uporabljal , izbere centralna banka posojilodajalka ( domača centralna banka ) , metodo zavarovanja pa navadno predlaga korespondenčna centralna banka .
The procedure to be followed is chosen by the lending central bank ( the HCB ) , but the method of collateralisation is usually the one suggested by the CCB . All assets eligible for Eurosystem monetary policy operations can be used on a cross-border basis through the CCBM ( including certain non-marketable assets which are not held in SSSs ) .
Vse finančno premoženje , ustrezno za operacije denarne politike Eurosistema , se lahko s pomočjo CCBM uporablja prek meje ( vključno z določenim netržnim finančnim premoženjem , ki ni izdano v sistemu poravnave poslov z vrednostnimi papirji ) .
There is no obligation for the counterparties to use the CCBM if an approved alternative exists , such as a link between SSSs .
Nasprotnim strankam ni treba uporabljati CCBM , če obstaja odobrena alternativa , kot je povezava med sistemi poravnave poslov z vrednostnimi papirji .
Further general information on legal and procedural aspects can be found in Annexes 1 and 5 . 1.2 CCBM OPERATING TIME
Nadaljnje splošne informacije o pravnih in postopkovnih vidikih se nahajajo v prilogah 1 in 5 .
1.3 WHICH NCB IS THE CCB ?
1.3 KATERA NCB JE KORESPONDENČNA CENTRALNA BANKA ?
The general rule is that the CCB is the NCB of the country of the issuing SSS ( which is usually the domestic SSS of the country in which the assets are issued ( i.e. registered / deposited ) .
Splošno pravilo je , da je korespondenčna centralna banka NCB države , kjer se nahaja sistem poravnave poslov z vrednostnimi papirji ( ki je navadno domači sistem poravnave poslov z vrednostnimi papirji države , v kateri so bila finančna sredstva izdana ( tj . vpisana / deponirana )) .
In general each eligible asset has only one CCB .
Na splošno ima vsako ustrezno finančno premoženje le eno korespondenčno centralno banko .
However , -- for Euro-market and international issues that are issued simultaneously in Euroclear Bank and Clearstream Luxembourg , the Nationale Bank van België / Banque Nationale de Belgique acts as CCB for holdings in Euroclear Bank , while the Banque centrale du Luxembourg acts as CCB for those in Clearstream Luxembourg ;
Vendar : -- za izdaje na skupnem evropskem trgu ( evrotrgu ) in mednarodne izdaje , ki potekajo istočasno v Euroclear Bank in Clearstream Luxembourg , deluje Nationale Bank van België / Banque Nationale de Belgique kot korespondenčna centralna banka za imetja v Euroclear Bank , medtem ko Banque centrale du Luxembourg deluje kot korespondenčna centralna banka za imetja v Clearstream Luxembourg ;
-- for Irish government bonds deposited in Euroclear Bank , the Central Bank and Financial Services Authority of Ireland acts as CCB ;
-- za irske državne obveznice , deponirane pri Euroclear Bank , deluje kot korespondenčna centralna banka Central Bank and Financial Services Authority of Ireland 5 ;
5 -- for Euro-market and international issues in Euroclear Bank and Clearstream Luxembourg where the issuer is the Government of the United Kingdom or a company incorporated in the United Kingdom , the Bank of England acts as CCB .
-- za izdaje na evrotrgu in mednarodne izdaje v Euroclear Bank in Clearstream Luxembourg , kjer je izdajateljica vlada Združenega kraljestva ali podjetje , registrirano v Združenem kraljestvu , deluje kot korespondenčna centralna banka Bank of England .
Detailed information on the assets eligible for Eurosystem credit operations is available on the ECB 's website ( www.ecb.int ) .
Podrobne informacije o ustreznem finančnem premoženju za kreditne operacije Eurosistema so na voljo na spletni strani ECB ( www.ecb . int ) .
In case of problems or for further information an e-mail hotline is also available ( see the « MFIs and eligible assets » section of the ECB 's website ) .
Pri morebitnih težavah ali za nadaljnje informacije je na voljo tudi elektronski naslov za pomoč ( glej » MFIs and eligible assets « na spletni strani ECB ) .
The CCBM is used to support the monetary policy operations of the Eurosystem and intraday credit operations in TARGET .
1.2 ČAS DELOVANJA CCBM CCBM se uporablja za podporo operacijam denarne politike Eurosistema in kreditnim poslom za čez dan v sistemu TARGET .
Under normal circumstances , it is open for instructions from counterparties from 9 a.m. to 4 p.m. C.E.T. This means that its operating hours cover the normal time-frame in which regular open market operations are carried out by the Eurosystem but do not cover the full operating hours of TARGET .
To pomeni , da se čas poslovanja CCBM prekriva z običajnim časovnim okvirom , v katerem Eurosistem izvaja redne operacije na odprtem trgu , vendar se ne prekriva s polnim časom delovanja sistema TARGET .
CCBM users needing to use collateral on a cross-border basis after 4 p.m. should therefore deposit it with the CCB before that time .
Uporabniki CCBM , ki želijo določeno finančno premoženje uporabiti kot čezmejno zavarovanje po 16 .
In exceptional circumstances -- when necessary for reasons related to monetary policy or to ensure the smooth closing of TARGET -- the closing time of the CCBM may be delayed . 2
uri , ga morajo pri korespondenčni centralni banki deponirati pred tem časom . V izjemnih okoliščinah -- kadar je to potrebno za namene denarne politike ali za zagotovitev nemotenega zaprtja sistema TARGET -- se lahko zapiralni čas CCBM podaljša .
In drawing up the list of assets eligible for use in the monetary policy and intraday credit operations of the Eurosystem , it was decided to include assets in various countries which are 5 Following the closure of the Central Bank and Financial Services Authority of Ireland Securities Settlement Off ice ( CBISSO ) , Irish government bonds have been transferred to Euroclear Bank .
5 Po zaprtju urada za poravnavo poslov z vrednostnimi papirji pri Central Bank and Financial Services Authority of Ireland so bili irski državni vrednostni papirji preneseni v Euroclear Bank .
cECB Correspondent central banking model ( CCBM ) May 2005
ECB Korespondenčni centralnobančni model ( CCBM ) maj 2005
of particular importance to their national financial markets and banking systems : these are known as « tier two » assets .
Pri sestavljanju seznama finančnega premoženja , ki je ustrezno za operacije denarne politike in posojila za čez dan v Eurosistemu , je bilo sklenjeno , da se v posameznih državah vključi tudi finančno premoženje , ki je posebnega pomena za nacionalni finančni trg in bančni sistem : to premoženje se imenuje finančno premoženje z liste 2 .
The criteria for inclusion in the list of eligible assets are given in the ECB publication entitled « The implementation of monetary policy in the euro area : General documentation on Eurosystem monetary policy instruments and procedures » , updated February 2005 .
Merila za vključitev na seznam ustreznega finančnega premoženja so opisana v publikaciji z naslovom „Izvajanje monetarne politike v euroobmočju : Splošna dokumentacija o instrumentih in postopkih monetarne politike Eurosistema » , ki je bila dopolnjena februarja 2005 .
In some countries tier two assets include assets which cannot be transferred through an SSS , such as credit claims , bills of exchange and non-marketable bonds .
V nekaterih državah finančno premoženje z liste 2 zajema tudi takšno finančno premoženje , ki ga ni mogoče prenesti prek sistema poravnave poslov z vrednostnimi papirji , kot npr . kreditne terjatve , menice in netržne obveznice .
Because of the specific characteristics of these assets , the ECB and the NCBs have established specific procedures for their mobilisation through the CCBM .
Zaradi posebnih značilnosti tega finančnega premoženja so ECB in nacionalne centralne banke vzpostavile poseben postopek za njihovo uporabo prek modela CCBM .
The countries which have so far included such assets in their tier two lists are Germany , Spain , France , Ireland , the Netherlands and Austria .
Do sedaj so takšno finančno premoženje na listo 2 vključile Avstrija , Francija , Irska , Nemčija , Nizozemska in Španija .
In accordance with domestic procedures and legal environments , two methods of using these assets through the CCBM have been developed .
Skladno z domačimi postopki in pravnim okoljem v posamezni državi sta bili razviti dve metodi za uporabo tega finančnega premoženja prek modela CCBM .
2.1 TRANSFER OF OWNERSHIP TO THE CCB
Nasprotna stranka , ki bi kot zavarovanje želela uporabiti to finančno premoženje , mora najprej skleniti okvirno pogodbo s korespondenčno centralno banko .
TRANSFER OF OWNERSHIP TO OR PLEDGE IN FAVOUR OF THE HCB The Deutsche Bundesbank , the Banco de España and the Oesterreichische Nationalbank have included in their tier two lists private claims for which the debtor or the liable party has been accepted by those NCBs .
ZASTAVA V KORIST DOMAČE CENTRALNE BANKE Deutsche Bundesbank , Banco de España in Oesterreichische Nationalbank so med svoje finančno premoženje z liste 2 uvrstile tiste zasebne terjatve , katerih dolžnik oz . odgovorna stranka je priznana s strani teh nacionalnih centralnih bank .
The Oesterreichische Nationalbank also includes non-marketable bonds and commercial paper , while the Deutsche Bundesbank accepts bills of exchange .
Oesterreichische Nationalbank je na listo 2 uvrstila tudi netržne obveznice in komercialne zapise , Deutsche Bundesbank pa sprejema tudi menice .
These assets can be used by counterparties in other countries to obtain credit from their HCB .
Nasprotne stranke v drugih državah lahko uporabijo to finančno premoženje za pridobitev posojila od svoje domače centralne banke .
Procedures have been established to allow either a pledge ( in the case of Spain , pledge only ) or a transfer of full title ( or , in the case of Austrian private claims , an assignment for security purposes ) . The HCB decides whether it prefers to make the transfer of ownership or use a pledge .
Vzpostavljeni so bili postopki , ki omogočajo ali zastavo ( v primeru Španije le zastavo ) ali prenos celotne lastninske pravice ( oz . v primeru avstrijskih zasebnih terjatev odstop terjatve zaradi večje varnosti ) , pri čemer se domača centralna banka odloči , ali bo izbrala prenos lastništva ali zastavo .
Further details are given in Annex 2 .
Podrobnosti so opisane v prilogi 2 .
This variant of the CCBM mobilises assets which cannot be transferred through an SSS by transferring them to an account in the name of the CCB .
2.1 PRENOS LASTNIŠTVA NA KORESPONDENČNO CENTRALNO BANKO V tej različici modela CCBM se sredstva , ki jih ni mogoče prenesti prek sistema poravnave poslov z vrednostnimi papirji , uporabijo tako , da se prenesejo na račun korespondenčne centralne banke .
This method has been chosen by the Banque de France , the Central Bank and Financial Services Authority of Ireland and De Nederlandsche Bank for the mobilisation of , respectively , French private claims ( claims -- governed by French law -- on debtors established in France ) , Irish mortgage-backed promissory notes , and Dutch private claims and bills of exchange .
To metodo so izbrale Banque de France za zasebne terjatve ( terjatve , ki jih zakonsko ureja francosko pravo , do upnikov , ustanovljenih v Franciji ) , Central Bank and Financial Services Authority of Ireland za irske hipotekarne zadolžnice ter De Nederlandsche Bank za nizozemske zasebne terjatve in menice .
Further details are given in Annex 3 .
3 PRAVNI OKVIR
The use of the CCBM by the EU central banks is based on internal Eurosystem / ESCB agreements .
Centralne banke EU uporabljajo CCBM na podlagi notranjih sporazumov Eurosistema / ESCB .
According to these agreements , each NCB agrees to act as the local agent for each of the other NCBs and the ECB .
Skladno s temi sporazumi je vsaka nacionalna centralna banka sprejela nalogo , da deluje kot lokalni agent za druge nacionalne centralne banke in ECB .
The agreements allocate responsibilities to the HCB and the CCB .
Sporazumi nalagajo
The terms applicable to the collateral operations of counterparties are set out in the respective contractual or regulatory arrangements of the HCB . In particular , these documents specify whether the HCB will base its operations on repos , collateralised loans ( e.g. pledges over assets ) or both .
ECB Korespondenčni centralnobančni model ( CCBM ) maj 2005 odgovornost tako domači kot korespondenčni centralni banki .
6 The CCBM has been designed to ensure that , as far as is possible under the relevant national legal systems , the HCB 's choice of collateralisation technique is 6 In conformity with market practice , the term « collateral » is used for both types of transaction .
Pogoji , ki veljajo za nasprotne stranke pri operacijah zavarovanja , so določeni v pogodbah ali predpisih posamezne domače centralne banke .
ECBc Correspondent central banking model ( CCBM ) May 2005 respected for the mobilisation of both domestic assets and cross-border assets .
Ti dokumenti še zlasti določajo , ali bo domača centralna banka izvajala svoje operacije na podlagi repo poslov , zavarovanih posojil ( npr .
A table in Annex 1 contains a short description of the legal instruments available in each country .
zastava finančnega premoženja ) ali obojega 6 .
Counterparties which make use of collateral on a cross-border basis must pay a transaction fee of Euros 30 for each asset delivery to their HCB through the CCBM .
Namen CCBM je zagotoviti , da se odločitev domače centralne banke glede metode zavarovanja upošteva pri uporabi tako domačega kot čezmejnega finančnega premoženja , in sicer v okviru , ki ga dopušča posamezni nacionalni pravni sistem .
In addition , a combined custody and administration fee of 0.0069% per annum is charged on the nominal value 7 of the assets held each month .
V tabeli v prilogi 1 je kratek opis pravnih instrumentov , ki so na voljo v posamezni državi .
Taxes are not included in these fees , which have been set to cover the costs of the CCB and are charged by the HCB on a monthly basis . In addition to the above , HCBs may charge local fees .
ne vključujejo davkov . Poleg tega lahko domače centralne banke zaračunavajo tudi lokalne provizije .
Further information on the fee collection procedures is provided by NCBs in the domestic legal documentation governing monetary policy and intraday credit operations .
Dodatne informacije o načinu zaračunavanja provizij so na voljo pri nacionalnih centralnih bankah v njihovih pravnih dokumentih , ki urejajo operacije denarne politike in posojila za čez dan .
STATISTICS ON THE USE OF CROSSBORDER COLLATERAL
STATISTIČNI PODATKI O UPORABI ČEZMEJNEGA ZAVAROVANJA
Statistics on the use of cross-border collateral for Eurosystem credit operations are published on the ECB 's website ( www.ecb.int ) .
Statistični podatki o uporabi finančnega premoženja za čezmejno zavarovanje v kreditnih operacijah Eurosistema so objavljeni na spletnih straneh ECB ( www.ecb.int ) .
The statistics show the sum of the cross-border assets held in custody via both the CCBM and the links between SSSs ( figures refer to the value of assets in custody on the last Friday of the month ) .
Statistični podatki prikazujejo vsoto čezmejnega finančnega premoženja , ki je v skrbništvu prek CCBM ali povezav med sistemi poravnave poslov z vrednostnimi papirji ( številke se nanašajo na vrednost finančnega premoženja v skrbništvu na zadnji petek v mesecu ) .
The evolution of the cross-border collateral held in custody as a percentage of total collateral deposited with the Eurosystem is also provided .
Na voljo so tudi podatki o gibanju deleža zavarovanja v skrbništvu preko meje glede na celotno zavarovanje , ki je deponirano pri Eurosistemu .