natgillin/translations-raw huggingface dataset:
5.3 . ( 1 ) Directive 2007/64 / EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7 / EC , 2002/65 / EC , 2005/60 / EC and 2006/48 / EC and repealing Directive 97/5 / EC ( OJ L 319 , 5.12.2007 , p. 1 ) .
( 1 ) Direktiva 2007/64 / ES Evropskega parlamenta in Sveta z dne 13 . novembra 2007 o plačilnih storitvah na notranjem trgu in o spremembah direktiv 97/7 / ES , 2002/65 / ES , 2005/60 / ES in 2006/48 / ES ter o razveljavitvi Direktive 97/5 / ES , UL L 319 , 5.12.2007 , str .
Drafting proposals Where the above advice related to Article 2 ( 1 ) and Article 3 of the proposed regulation would lead to changes in the proposed regulation , drafting proposals are set out in the Annex .
Predlagane spremembe besedila V primeru , ko bi zgornji nasveti v zvezi s členom 2 ( 1 ) in členom 3 predlagane uredbe vodili v spremembe predlagane uredbe , so predlagane spremembe besedila navedene v prilogi .
Done at Frankfurt am Main , 6 January 2009 .
V Frankfurtu na Majni , 6 .
The President of the ECB Jean-Claude TRICHET
januarja 2009 Predsednik ECB Jean-Claude TRICHET
Amendment 1 Article 2 ( 1 ) of the proposed regulation Article 2 ( 1 ) « cross-border payments » means electronic payment transactions initiated by the payer or by or through a payee and carried out via a payment service provider or a branch thereof in one Member State , with a view to making an amount of money available to a payee via his payment service provider or a branch thereof in another Member State ;
Sprememba 1 Člen 2 ( 1 ) predlagane uredbe Člen 2 ( 1 ) „čezmejna plačila » pomeni elektronske plačilne transakcije , ki jih odredi plačnik ali prejemnik plačila ali so bile odrejene prek slednjega , izvrši pa jih ponudnik plačilnih storitev ali njegova poslovalnica v eni izmed držav članic , zato da se da znesek denarja na razpolago prejemniku plačila prek njegovega ponudnika plačilnih storitev ali poslovalnice slednjega v drugi državi članici ;
Article 2 ( 1 ) « cross-border payments » means electronic payment transactions initiated by the payer or by or through a payee and carried out via a payment service provider or a branch thereof in one Member State , with a view to making an amount of money available to a payee via his payment service provider or a branch thereof in another Member State ;
Člen 2 ( 1 ) „čezmejna plačila » pomeni elektronske plačilne transakcije , ki jih odredi plačnik ali prejemnik plačila ali so bile odrejene prek slednjega , izvrši pa jih ponudnik plačilnih storitev ali njegova podružnica (*) v eni izmed držav članic , zato da se da znesek denarja na razpolago prejemniku plačila prek njegovega ponudnika plačilnih storitev ali podružnice slednjega v drugi državi članici ;
Justification --- See paragraph 5.1 of the opinion Amendment 2 Insertion of Article 3 ( 3 ) into the proposed regulation Article 3 ( 3 ) No current text Article 3 ( 3 ) The equivalence between cross-border payments and corresponding domestic payments shall be assessed on the basis of criteria such as the initiation channel , speed , degree of automation , customer relationship and the level of the service provided to the customer .
Utemeljitev -- Glej odstavek 5.1 tega mnenja Sprememba 2 Vstavitev člena 3 ( 3 ) v predlagano uredbo Člen 3 ( 3 ) Trenutno ni besedila Člen 3 ( 3 ) Istovrstnost med čezmejnimi plačili in ustreznimi domačimi plačili se oceni na podlagi meril , kot so način odreditve , hitrost , stopnja avtomatizacije , razmerje s stranko in raven storitve , ki se zagotavlja stranki .
Jan - 2002 Mon
Naslednji mesec Jan - 2002
EUROPEAN CENTRAL BANK OPINION OF THE EUROPEAN CENTRAL BANK of 12 December 2006 on a draft Commission Directive implementing Council Directive 85/611 / EEC on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities ( UCITS ) as regards the clarification of certain definitions ( CON / 2006/57 ) ( 2007 / C 31/01 ) Introduction and legal basis
EVROPSKA CENTRALNA BANKA MNENJE EVROPSKE CENTRALNE BANKE z dne 12 . decembra 2006 o predlogu Direktive Komisije o izvajanju Direktive Sveta 85/611 / EGS o usklajevanju zakonov in drugih predpisov o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje ( KNPVP ) glede razjasnitve nekaterih opredelitev ( CON / 2006/57 ) ( 2007 / C 31/01 ) Uvod in pravna podlaga
The ECB is submitting this opinion on its own initiative to the Commission on a draft Commission Directive implementing Council Directive 85/611 / EEC on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities ( UCITS ) ( 1 ) as regards the clarification of certain definitions ( 2 ) ( hereinafter the « proposed directive ') .
ECB podaja Komisiji na lastno pobudo to mnenje o predlogu Direktive Komisije o izvajanju Direktive Sveta 85/611 / EGS o usklajevanju zakonov in drugih predpisov o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje ( KNPVP ) ( 1 ) glede razjasnitve nekaterih opredelitev ( 2 ) ( v nadaljevanju : „predlagana direktiva ") .
The main objective of the proposed directive , which is an implementing measure issued on the basis of Article 53a of the UCITS Directive , is to clarify the meaning and the scope of certain definitions under the UCITS Directive in order to ensure its uniform application throughout the European Union and improve the functioning of the UCITS product passport ( 3 ) .
Glavni cilj predlagane direktive , ki je izvedbeni ukrep , izdan na podlagi člena 53a Direktive o KNPVP , je razjasniti pomen in obseg nekaterih opredelitev v Direktivi o KNPVP z namenom zagotovitve njene enotne uporabe po vsej Evropski uniji in izboljšanja delovanja potnega lista za produkte KNPVP ( 3 ) .
The ECB 's competence to deliver an opinion on the proposed directive is based on Article 105 ( 4 ) of the Treaty establishing the European Community , since the proposed directive is linked to the implementation of the monetary policy of the euro area , particularly with regard to the functioning of European money markets .
Pristojnost ECB , da poda mnenje o predlagani direktivi , izhaja iz člena 105 ( 4 ) Pogodbe o ustanovitvi Evropske skupnosti , saj je predlagana direktiva povezana z izvajanjem denarne politike v euroobmočju , zlasti glede delovanja evropskih denarnih trgov .
In this respect , the ECB considers that proposed Level 2 acts constitute « proposed Community acts » within the meaning of Article 105 ( 4 ) of the Treaty .
V tej zvezi ECB meni , da predlagani akti na ravni dva predstavljajo „predlagane akte Skupnosti » v smislu člena 105 ( 4 ) Pogodbe .
The ECB would therefore have expected the Commission to take the initiative to formally consult the ECB on the proposed directive , in accordance with the relevant Treaty provisions .
Zato bi ECB pričakovala , da bo Komisija prevzela pobudo za formalno posvetovanje z ECB o predlagani direktivi v skladu z zadevnimi določbami Pogodbe .
Considering that the ECB has several comments with respect to the proposed directive , the ECB has decided to submit this opinion on its own initiative .
Glede na to , da ima ECB več pripomb v zvezi s predlagano direktivo , se je odločila podati to mnenje na lastno pobudo .
( 1 ) Council Directive 85/611 / EEC of 20 December 1985 on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities ( UCITS ) ( OJ L 375 , 31.12.1985 , p 3 ) .
( 1 ) Direktiva Sveta 85/611 / EGS z dne 20 . decembra 1985 o usklajevanju zakonov in drugih predpisov o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje ( KNPVP ) , ( UL L 375 , 31.12.1985 , str .
Directive as last amended by Directive 2005/1 / EC ( OJ L 79 , 24.3.2005 , p. 9 ) , ( hereinafter the « UCITS Directive ') .
Direktiva , kakor je bila zadnjič spremenjena z Direktivo 2005/1 / EC ( UL L 79 , 24.3.2005 , str . 9 ) , ( v nadaljevanju : „Direktiva o KNPVP ") .
( 2 ) Commission Working Document ESC / 43/2006 .
( 2 ) Delovni dokument Komisije ESC / 43/2006 .
( 3 ) The ECB notes that both the European Monetary Institute , precursor to the ECB , and the ECB itself were consulted by the Council on the UCITS Directive in 1995 and 1999 , respectively .
3 ( ) ECB ugotavlja , da se je Svet o Direktivi o KNPVP posvetoval tako z Evropskim monetarnim inštitutom , predhodnikom ECB , leta 1995 kot tudi s samo ECB leta 1999 .
See Opinion of the European Monetary Institute CON / 1994/8 of 27 July 1995 on a Commission proposal for a Directive relating to undertakings for collective investment in transferable securities ( UCITS ) ;
Glej Mnenje Evropskega monetarnega inštituta CON / 1994/8 z dne 27 . julija 1995 o predlogu Komisije za Direktivo o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje ( KNPVP ) ;
ECB Opinion CON / 98/54 of 16 March 1999 at the request of the Council of the European Union under Articles 109l ( 2 ) and 109f ( 6 ) of the Treaty establishing the European Community and Article 5.3 of the Statute of the European Monetary Institute on two European Commission proposals for European Parliament and Council Directives amending Directive 85/611 / EEC on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities ( UCITS ) , ref .
Mnenje ECB CON / 98/54 z dne 16 . marca 1999 na zahtevo Sveta Evropske unije v skladu s členoma 109l ( 2 ) in 109f ( 6 ) Pogodbe o ustanovitvi Evropske skupnosti ter členom 5.3 Statuta Evropskega monetarnega inštituta o dveh predlogih Evropske komisije za direktivi Evropskega parlamenta in Sveta o spremembah Direktive 85/611 / EGS o usklajevanju zakonov in drugih predpisov o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje ( KNPVP ) , ref .
98/0242 --- COM ( 1998 ) 451 final and ref .
98/0242 --- COM ( 1998 ) 451 končno in ref .
98/0243 --- COM ( 1998 ) 449 final , OJ C 285 , 7.10.1999 , p. 9 .
98/0243 --- COM ( 1998 ) 449 končno , ( UL C 285 , 7.10.1999 , str . 9 ) .
Official Journal of the European Union 13.2.2007
13.2.2007 Splošne pripombe
General observations 1.1 An efficient and well-integrated financial system is important for the smooth and effective transmission of monetary policy throughout the euro area .
1.1 Učinkovit in dobro integriran finančni sistem je pomemben za nemoteno in učinkovito transmisijo denarne politike po vsem euroobmočju .
While this applies to all segments of the financial system , it is of particular importance with regard to the market segment most directly relevant for the implementation of monetary policy , namely the money market .
Medtem ko to velja za vse segmente finančnega sistema , je še posebej pomembno v zvezi s tržnim segmentom , ki je najbolj neposredno povezan z izvajanjem denarne politike , to je denarnim trgom .
The European short-term securities market is the least integrated money market segment in the EU .
Evropski trg kratkoročnih vrednostnih papirjev je najmanj integriran segment denarnega trga v EU .
Therefore , the ECB follows with particular attention regulatory as well as market-led initiatives that aim at enhancing the integration , development and transparency of short-term securities markets in Europe ( 4 ) .
Zato ECB posebej pozorno spremlja tako regulativne kot tudi tržno vodene pobude , katerih namen je povečati integracijo , razvoj in preglednost trgov kratkoročnih vrednostnih papirjev v Evropi ( 4 ) .
1.2 The even implementation and interpretation of EU legislation is a crucial dimension for building up the internal market in financial services .
1.2 Enako izvajanje in razlaga zakonodaje EU je ključni element za krepitev notranjega trga finančnih storitev .
Against this background , the choice of a directive as the legal instrument to achieve this even implementation in this case seems to contradict the objective of the implementing measures in relation to the UCITS Directive , which is to clarify the definitions « in order to ensure uniform application of this Directive throughout the Community » ( 5 ) , to « enhance a common reading as to whether certain assets are eligible for investment under the UCITS Directive » , to « reduce the potential of divergent interpretations of the UCITS Directive » and to « improve legal certainty and enable a more coherent interpretation of the UCITS Directive » ( 6 ) .
Glede na navedeno se zdi , da je izbira direktive kot pravnega instrumenta za dosego tega enakega izvajanja v tem primeru v nasprotju s ciljem izvedbenih ukrepov v povezavi z Direktivo o KNPVP , ki je razjasniti opredelitve „zaradi zagotovitve enotne uporabe te direktive v vsej Skupnosti » ( 5 ) , „izboljšati enotno razumevanje glede primernosti določenih sredstev za vlaganje po Direktivi o KNPVP » , „zmanjšati možnosti za različne razlage Direktive o KNPVP » ter „izboljšati pravno varnost in omogočiti enotno razlago Direktive o KNPVP » ( 6 ) .
A proposed implementing measure in the form of a regulation containing detailed provisions capable of direct application to all UCITS could more appropriately remedy the current uneven application of some general principles contained in the UCITS Directive ( for instance , regarding the rules on the eligibility of money market instruments ) .
Predlagani izvedbeni ukrep v obliki uredbe , ki bi vsebovala podrobne določbe , neposredno uporabljive za vse KNPVP , bi lahko primerneje odpravil sedanjo neenako uporabo nekaterih splošnih načel , vsebovanih v Direktivi o KNPVP ( na primer v zvezi s pravili glede primernosti instrumentov denarnega trga ) .
2.1 First , as regards disclosure and information requirements , the proposed directive introduces various requirements depending on the legal nature of the issuer .
2.1 Prvič , glede zahtev po razkritju in informacijah predlagana direktiva uvaja različne zahteve v odvisnosti od pravne narave izdajatelja .
For example , for money market instruments issued by establishments subject to prudential supervision ( 7 ) , the information can be confined to either information on the issue or issuance programme or on the legal and financial situation of the issuer prior to the issue of the money market instrument ( 8 ) .
V zvezi z instrumenti denarnega trga , ki jih izdajajo ustanove , ki so predmet bonitetnega nadzora ( 7 ) , so na primer informacije lahko omejene na informacije o izdaji ali programu za izdajo ali o pravnem in finančnem položaju izdajatelja pred izdajo instrumenta denarnega trga ( 8 ) .
Whereas for non-financial corporations ( 9 ) the requirements include information on the issue and issuance programme as well as on the legal and financial situation of the issuer .
V zvezi z nefinančnimi družbami ( 9 ) pa zahteve vključujejo tako informacije o izdaji in programu za izdajo kot tudi o pravnem in finančnem položaju izdajatelja .
The Commission indicates that this differentiation takes into account that « e.g. certain certificates of deposits would have difficulties to comply with certain criteria under Article 5 ( 2 ) » of the proposed directive .
Komisija navaja , da se pri tem razlikovanju upošteva , da bi „npr . pri nekaterih potrdilih o vlogah bile težave z izpolnjevanjem nekaterih meril iz člena 5 ( 2 ) » predlagane direktive .
In general , the ECB considers that for the smooth and efficient functioning of the market , it is important that adequate and standardised information , as well as standardised statistics , are accessible to market participants .
Na splošno ECB meni , da je za nemoteno in učinkovito delovanje trga pomembno , da so udeležencem na trgu dostopni ustrezne in standardizirane informacije ter standardizirani statistični podatki .
Therefore , it is recommended to adopt the same wording for Article 5 ( 3 )( a ) as for Article 5 ( 2 )( a ) of the proposed directive .
Zato je v členu 5 ( 3 )( a ) priporočljivo sprejeti enako besedilo kakor v členu 5 ( 2 )( a ) predlagane direktive .
2.2 Second , the inclusion of money market instruments issued by a Member State 's local or regional authority ( or , in the case of a Member State that is a federal State , a member of the federation ) that are not guaranteed by a Member State under Article 5 ( 2 ) (' other » issuers ) , rather than under Article 5 ( 4 ) of the proposed directive ( i.e. alongside other public entities of Member States ) , might require further consideration .
2.2 Drugič , vključitev instrumentov denarnega trga , ki jih izdaja lokalna ali regionalna oblast države članice ( ali v primeru države članice , ki je zvezna država , ena od članic federacije ) in za katere država članica ne jamči , v člen 5 ( 2 ) ( „drugi » izdajatelji ) namesto v člen 5 ( 4 ) predlagane direktive ( tj . poleg drugih javnih subjektov v državah članicah ) bi morda zahtevala dodaten razmislek .
Local , regional and federal authorities in the EU generally enjoy financial support from their respective Member States as well as a special status under national insolvency laws .
Lokalne , regionalne in zvezne oblasti v EU na splošno uživajo finančno podporo svojih držav članic in imajo tudi poseben položaj po nacionalnih insolvenčnih zakonodajah .
Moreover , the question of whether the liabilities of local , regional and federal authorities in the EU are formally guaranteed by their Member States could raise complex questions in certain cases , and might not therefore provide an appropriate basis for differentiating instruments with or without guarantee . Consideration could be given to treating all regional , local and ( for the UCITS Directive ) federal authorities of Member ( 4 ) For this reason , the ECB supports the Short-Term European Paper ( STEP ) initiative , which is a market-led initiative promoted by the Financial Markets Association ( ACI ) and the European Banking Federation ( FBE ) , which aims to foster the integration and development of the European markets for short-term securities through the convergence of market standards .
Poleg tega bi vprašanje , ali za obveznosti lokalnih , regionalnih in zveznih oblasti v EU formalno jamčijo njihove države članice , lahko v nekaterih primerih sprožilo kompleksna vprašanja in zato morda ne bi bila zagotovljena ustrezna podlaga za razlikovanje med ( 4 ) Iz tega razloga ECB podpira pobudo o evropskih kratkoročnih vrednostnih papirjih ( Short-Term European Paper --- STEP ) , tržno vodeno pobudo , ki jo spodbujata Združenje finančnih trgov ( Financial Markets Association --- ACI ) in Evropska zveza bank ( European Banking Federation --- FBE ) ter katere namen je pospeševati integracijo in razvoj evropskih trgov kratkoročnih vrednostnih papirjev z zbliževanjem tržnih standardov .
The STEP Market Convention indicates the criteria and requirements that need to be fulfilled for an issuance programme to be STEP-compliant and thus obtain the STEP label .
„The STEP Market Convention » ( Tržni dogovor o STEP ) določa merila in zahteve , ki morajo biti izpolnjeni za skladnost programa za izdajo s STEP in s tem za pridobitev oznake STEP .
These criteria refer to disclosure , documentation format , settlement and the provision of data for the production of STEP statistics .
Ta merila se nanašajo na razkritje , predpisano obliko , poravnavo in zagotavljanje podatkov za izdelavo statistike STEP .
5 ( ) See Article 53a ( 1 ) of the UCITS Directive ( emphasis added ) .
5 ( ) Glej člen 53a ( 1 ) Direktive o KNPVP ( dodan poudarek ) .
( 6 ) See Background note , p. 1 , third paragraph .
( 6 ) Glej „Background note » ( Pojasnitveno sporočilo ) , stran 1 , tretji odstavek .
( 7 ) I.e. the issuers covered by Article 5 ( 3 ) of the proposed directive .
( 7 ) Tj . izdajatelji , zajeti v členu 5 ( 3 ) predlagane direktive .
( 8 ) Article 5 ( 3 )( a ) of the proposed directive .
( 8 ) Člen 5 ( 3 )( a ) predlagane direktive .
( 9 ) Article 5 ( 2 )( a ) of the proposed directive .
( 9 ) Člen 5 ( 2 )( a ) predlagane direktive .
States in the same way in both the « Level 1 » UCITS Directive ( the first indent of Article 19 ( 1 )( h )) and the Prospectus Directive 2003/71 / EC ( 10 ) . Similar arguments can be made for public international bodies .
instrumenti z jamstvom ali brez njega . Veljalo bi razmisliti o enaki obravnavi vseh regionalnih , lokalnih in ( po Direktivi o KNPVP ) zveznih oblasti držav članic tako na „ravni ena » Direktive o KNPVP ( prva alinea člena 19 ( 1 )( h )) kot v Direktivi o prospektu 2003/71 / ES ( 10 ) .
Thus , the Commission might consider amending Article 5 ( 2 ) of the proposed directive by deleting the reference to local , regional and federal authorities of Member States , as well as public international bodies , in order to treat all such public entities in the same way .
Komisija bi tako lahko razmislila o spremembi člena 5 ( 2 ) predlagane direktive , tako da bi črtala navedbo lokalnih , regionalnih in zveznih oblasti držav članic ter mednarodnih javnih organizacij , z namenom enake obravnave vseh takih javnih subjektov .
2.3 Third , Article 5 ( 3 )( c ) of the proposed directive refers to the need for reliable statistics on the issue or issuance programme « or other data enabling an appropriate assessment of the credit risks related to the investment in such instruments » .
2.3 Tretjič , člen 5 ( 3 )( c ) predlagane direktive se nanaša na potrebo po zanesljivih statističnih podatkih o izdaji ali programu za izdajo „ali drugih podatk [ ih ] , ki omogočajo ustrezno oceno kreditnih tveganj v zvezi z naložbo v take instrumente » .
It should be noted in this respect that the availability of reliable statistics and the availability of other data enabling an assessment of credit risks are two distinct and desirable features of a market , which overlap only partially .
V tej zvezi je treba opozoriti , da sta razpoložljivost zanesljivih statističnih podatkov in razpoložljivost drugih podatkov , ki omogočajo oceno kreditnih tveganj , dve različni in zaželeni značilnosti trga , ki se le delno prekrivata .
Therefore , one should not be treated as equivalent to the other .
Zato se ju ne bi smelo obravnavati kot enakovredni .
Furthermore , this criterion is partly redundant if read in conjunction with Article 5 ( 1 ) ( b ) which already provides that , for the financial instruments referred to in Article 19 ( 1 )( h ) of the UCITS Directive , information should be available allowing « an appropriate assessment of the credit risks related to the investment in such instruments » .
To merilo je tudi delno odveč , če se bere v povezavi s členom 5 ( 1 )( b ) , ki že določa , da bi morale biti v zvezi s finančnimi instrumenti iz člena 19 ( 1 )( h ) Direktive o KNPVP na voljo informacije , ki bi omogočile „ustrezno oceno kreditnih tveganj v zvezi z naložbo v take instrumente » .
Therefore , the reference to « or other data enabling an appropriate assessment of the credit risks related to the investment in such instruments » in Article 5 ( 3 ) ( c ) of the proposed directive should be deleted .
Zato bi bilo treba navedbo „ali drugih podatkov , ki omogočajo ustrezno oceno kreditnih tveganj v zvezi z naložbo v take instrumente » v členu 5 ( 3 )( c ) predlagane direktive črtati .
2.4 Fourth , the reference to the « control of the information » by « an appropriately qualified third party » in Article 5 ( 2 )( c ) of the proposed directive gives rise to some important difficulties of interpretation .
2.4 Četrtič , navedba „kontroliranje informacij » , ki ga izvaja „ustrezno usposobljena tretja stran » , v členu 5 ( 2 ) ( c ) predlagane direktive povzroča nekaj pomembnih težav pri razlagi .
In its previous explanatory notes ( 11 ) , the Commission indicated that dealers , auditors , public bodies or other market structures could be eligible to the extent that they are not subject to instructions from the issuer .
Komisija je v svojih predhodnih pojasnilih ( 11 ) navedla , da bi bili posredniki , revizorji , javni organi ali druge tržne strukture lahko primerni , kolikor niso podrejeni navodilom izdajatelja .