natgillin/translations-raw huggingface dataset:
The issuer 's country of residence .
Država , kjer je ustanovljen izdajatelj .
Asset-backed securities issued by entities established in the G10 countries that are not part of the European Economic Area ( EEA ) -- currently the United States , Canada , Japan and Switzerland -- are not eligible .
Zavarovani vrednostni papirji , ki jih izdajo subjekti , ustanovljeni v državah G10 zunaj Evropskega gospodarskega prostora ( EGP ) -- trenutno so to Združene države Amerike , Kanada , Japonska in Švica -- niso primerni .
This criterion is introduced to avoid the additional legal complexities that would arise if the Eurosystem needed to assess whether its rights were sufficiently protected under the laws of such countries .
To merilo je bilo uvedeno v izogib dodatni pravni zapletenosti , ki bi nastala , če bi moral Eurosistem presoditi , ali so njegove pravice zadostno zaščitene po predpisih teh držav .
The eligibility assessment .
Ocena primernosti .
The Eurosystem reserves the right to request from any relevant third party ( such as the issuer , the originator or the arranger ) any clarification and / or legal confirmation that it considers necessary to assess the eligibility of asset-backed securities .
Eurosistem si pridržuje pravico , da od posameznih tretjih oseb ( kot so izdajatelj , originator ali organizator ) zahteva kakršno koli pojasnilo in / ali pravno potrditev , za katero šteje , da je potrebna za oceno primernosti zavarovanih vrednostnih papirjev .
Note , however , that the above criteria as well as the exception from the « fixed , unconditional principal amount » requirement do not apply to covered bank bonds issued in accordance with Art 22 ( 4 ) of the UCITS Directive ( 85/611 / EEC as amended ) .
Treba je upoštevati , da zgornja merila , kakor tudi izjema od zahteve glede » fiksnega , brezpogojnega zneska glavnice «, ne veljajo za krite bančne obveznice , izdane v skladu s členom 22 ( 4 ) Direktive UCITS ( 85/611 / EGS z vsemi spremembami ) .
The General Documentation including the above amendments is an annex to Guideline ECB / 2005/17 amending Guideline ECB / 2000/7 on monetary policy instruments and procedures of the Eurosystem .
Splošna dokumentacija , ki vključuje zgornje spremembe , je priloga k Smernici ECB / 2005/17 o spremembah Smernice ECB / 2000/7 o instrumentih monetarne politike in postopkih Eurosistema .
The amending Guideline has been adopted by the Governing Council of the ECB and the amendments will apply from 1 May 2006 .
Smernico o spremembah je sprejel Svet ECB , spremembe pa začnejo veljati od 1 . maja 2006 .
Asset-backed securities which are eligible pursuant to Guideline ECB / 2005/2 but do not fulfil the above criteria will remain eligible for a transitional period until 15 October 2006 .
Zavarovani vrednostni papirji , ki so primerni po Smernici ECB / 2005/2 , vendar ne izpolnjujejo zgornjih meril , bodo ostali primerni v prehodnem obdobju do 15 . oktobra 2006 .
The Governing Council has also decided that units of French fonds communs de créances ( FCCs ) in the tier one list will remain eligible for a transitional period until 30 December 2008 .
Svet ECB je prav tako določil , da enote francoskih fonds communs de créances ( FCCs ) na listi 1 ostanejo primerne v prehodnem obdobju do 30 . decembra 2008 .
http://www.ecb.europa.eu/press/pr/date/2006/html/pr060113.en.html
http://www.ecb.europa.eu/press/pr/date/2006/html/pr060113.sl.html
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EDITORIAL 11 February 2010 - Monthly Bulletin
11 . februar 2010 - Mesečni bilten
Based on its regular economic and monetary analyses , the Governing Council decided at its meeting on 4 February 2010 to leave the key ECB interest rates unchanged .
Svet ECB je na seji 4 . februarja 2010 na podlagi redne ekonomske in denarne analize sklenil , da pusti ključne obrestne mere ECB nespremenjene .
Taking into account all the information and analyses that have become available since the Governing Council meeting on 14 January 2010 , price developments are expected to remain subdued over the policy-relevant horizon .
Glede na vse informacije in analize , ki so postale dostopne od zadnje seje Sveta 14 . januarja 2010 , se pričakuje , da bodo v obdobju , ki je pomembno za denarno politiko , cenovna gibanja ostala umirjena .
The latest information has also confirmed that euro area economic activity continued to expand around the turn of the year .
Najnovejše informacije so hkrati potrdile , da se je gospodarska aktivnost euroobmočja ob prelomu leta še naprej izboljševala .
Looking ahead , the Governing Council expects the euro area economy to grow at a moderate pace in 2010 .
Glede prihodnjih gibanj Svet ECB pričakuje , da bo gospodarstvo euroobmočja v letu 2010 raslo po zmerni stopnji .
The recovery process is likely to be uneven and the outlook remains subject to uncertainty .
Proces okrevanja bo verjetno potekal neenakomerno , obeti pa ostajajo negotovi .
The outcome of the monetary analysis confirms the assessment of low inflationary pressure over the medium term .
Rezultati denarne analize potrjujejo oceno o šibkih srednjeročnih inflacijskih pritiskih .
The latest information confirms that economic activity in the euro area continued to expand around the turn of the year .
Najnovejši podatki potrjujejo , da se je gospodarska aktivnost euroobmočja ob prelomu leta še naprej izboljševala .
The euro area has been benefiting from a turn in the inventory cycle and a recovery in exports , as well as from the significant macroeconomic stimulus under way and the measures adopted to restore the functioning of the financial system .
Glavni pozitivni dejavniki so obrat v ciklu zalog in okrevanje izvoza , pa tudi velike makroekonomske spodbude , ki se zdaj izvajajo , ter ukrepi , ki so bili sprejeti za obnovitev delovanja finančnega sistema .
However , these stimuli will unwind over time , while activity is likely to be adversely affected by the ongoing process of balance sheet adjustment in the financial and non-financial sectors , both inside and outside the euro area .
Te spodbude bodo sicer sčasoma izginile , gospodarsko aktivnost pa bo verjetno slabil tudi proces bilančnega prilagajanja , ki še vedno poteka v finančnem in nefinančnem sektorju tako v euroobmočju kot tudi zunaj njega .
In addition , low capacity utilisation rates are likely to dampen investment , and unemployment in the euro area is expected to increase somewhat further , thereby lowering consumption growth .
Nadalje bo šibka izkoriščenost zmogljivosti verjetno zavirala investicije , brezposelnost v euroobmočju pa se bo predvidoma še nekoliko povečala , kar bo upočasnjevalo rast potrošnje .
For these reasons , the euro area economy is expected to grow only at a moderate pace in 2010 and the recovery process could be uneven .
V skladu s temi dejavniki se pričakuje , da bo gospodarstvo euroobmočja v letu 2010 raslo dokaj počasi , proces okrevanja pa bo potekal neenakomerno .
On the upside , confidence may improve more than expected , and both the global economy and foreign trade may recover more strongly than projected .
Na pozitivni strani se zaupanje lahko okrepi bolj , kot je pričakovano , prav tako pa se lahko močneje okrepita svetovna gospodarska rast in mednarodna trgovinska menjava .
Furthermore , there may be stronger than anticipated effects stemming from the extensive macroeconomic stimulus being provided and from other policy measures taken .
Poleg tega lahko pričakovanja presežejo pozitivni učinki sedanjih obsežnih makroekonomskih spodbud in drugih sprejetih ukrepov politike .
On the downside , concerns remain relating to a stronger or more protracted than expected negative feedback loop between the real economy and the financial sector , renewed increases in oil and other commodity prices , the intensification of protectionist pressures and the possibility of a disorderly correction of global imbalances .
Na negativni strani zaskrbljenost še vedno zbuja možnost večjih ali dolgotrajnejših negativnih povratnih učinkov med realnim gospodarstvom in finančnim sektorjem ter možnost ponovne rasti cen nafte in drugih primarnih surovin , stopnjevanja protekcionističnih pritiskov in morebitnih neobvladljivih popravkov svetovnih neravnovesij .
With regard to price developments , euro area annual HICP inflation increased further in January 2010 to stand at 1.0% , according to Eurostat 's flash estimate , after 0.9% in December 2009 .
Na področju cenovnih gibanj se je medletna inflacija po HICP v euroobmočju januarja 2010 še povečala in po Eurostatovi prvi oceni v tem mesecu znašala 1,0% , potem ko je bila decembra 2009 na ravni 0,9% .
Inflation is expected to be around 1 % in the near term and to remain moderate over the policy-relevant horizon .
V bližnji prihodnosti se bo inflacija gibala okrog 1 % in v obdobju , ki je pomembno za denarno politiko , ostala zmerna .
In line with a slow recovery in demand in the euro area and elsewhere , overall price , cost and wage developments are expected to stay subdued .
V skladu s počasnim okrevanjem povpraševanja v euroobmočju in drugod po svetu se pričakuje , da bo splošna dinamika cen , stroškov in plač ostala umirjena .
In this context , it is important to emphasise that inflation expectations over the medium to longer term remain firmly anchored in line with the Governing Council 's aim of keeping inflation rates below , but close to , 2 % over the medium term .
Ob tem je treba poudariti , da inflacijska pričakovanja v srednjeročnem in dolgoročnejšem obdobju ostajajo trdno zasidrana na ravni , ki je skladna s ciljem Sveta ECB , da inflacijo na srednji rok ohranja pod 2 %, vendar blizu te meje .
Risks to this outlook remain broadly balanced . They relate , in particular , to the further development of economic activity and the evolution of commodity prices .
Tveganja , ki spremljajo takšne inflacijske obete , ostajajo večinoma uravnotežena . Povezana so predvsem z razvojem gospodarske aktivnosti v prihodnjem obdobju ter gibanji cen primarnih surovin .
Furthermore , increases in indirect taxation and administered prices may be stronger than currently expected , owing to the need for fiscal consolidation in the coming years .
Poleg tega se bodo zaradi javnofinančne konsolidacije , ki bo potrebna v prihodnjih letih , posredni davki in nadzorovane cene morda povečale bolj , kot se pričakuje zdaj .
Turning to the monetary analysis , the annual growth rate of M3 remained negative in December 2009 , standing at - 0.2% .
Kot kaže denarna analiza , je medletna stopnja rasti denarnega agregata M3 v decembru 2009 ostala negativna na ravni - 0,2% .
In the same period , annual growth in loans to the private sector was zero .
Medletna rast posojil zasebnemu sektorju je bila v istem obdobju enaka nič .
These data continue to support the Governing Council 's assessment of a moderate underlying pace of monetary expansion and low inflationary pressure over the medium term .
Ti podatki še naprej potrjujejo oceno Sveta ECB o zmerni osnovni dinamiki rasti denarja in šibkih inflacijskih pritiskih v srednjeročnem obdobju .
Actual monetary developments are likely to be weaker than the underlying pace of monetary expansion , owing to the downward impact of the rather steep yield curve .
Dejanska denarna gibanja bodo zaradi zaviralnega učinka razmeroma strme krivulje donosnosti verjetno šibkejša od osnovne stopnje denarne rasti .
Looking ahead , M3 and credit growth is likely to remain weak for some time to come .
V prihodnjem obdobju bo rast agregata M3 in kreditov verjetno še nekaj časa ostala šibka .
The prevailing interest rate constellation continues to have a strong influence on both the level and composition of annual M3 growth .
Obstoječa razmerja med obrestnimi merami še naprej močno vplivajo tako na raven kot tudi na sestavo medletne rasti agregata M3 .
On the one hand , the low rates of remuneration on short-term bank deposits foster the allocation of funds away from M3 and into longer-term deposits and securities .
Po eni strani nizke obrestne mere za kratkoročne bančne vloge spodbujajo premeščanje sredstev iz agregata M3 v bolj dolgoročne vloge in vrednostne papirje .
On the other hand , the narrow spreads between the interest rates paid on different short-term deposits imply a low opportunity cost of holding funds in the most liquid components included in M1 , which continued to grow at a robust annual rate of more than 12 % in December .
Po drugi strani pa majhne razlike med obrestnimi merami za različne kratkoročne vloge pomenijo majhne oportunitetne stroške ohranjanja sredstev v najbolj likvidnih komponentah agregata M1 , ki je tudi v decembru beležil zelo močno medletno rast na ravni nad 12 %.
The zero annual growth rate of bank loans to the private sector reflects a further increase in the growth in loans to households , while the annual growth in loans to non-financial corporations moved further into negative territory .
Ničelna medletna rast bančnih posojil zasebnemu sektorju je rezultat še nekoliko močnejše rasti posojil gospodinjstvom , medtem ko je medletna rast posojil nefinančnim gospodarskim družbam zdrsnila še globlje v negativno območje .
Such divergence remains in line with business cycle regularities .
Takšna razhajanja ostajajo skladna z običajnim potekom gospodarskih ciklov .
The ongoing contraction in the outstanding amounts of loans to non-financial corporations continues to be accounted for entirely by a strong net redemption of loans with a short maturity .
Edini razlog za sedanje krčenje obsega posojil nefinančnim družbam ostaja veliko neto odplačevanje posojil s kratko zapadlostjo .
For the sector as a whole , the overall contraction may be due partly to substitution with market-based financing .
Za sektor kot celoto je skupno krčenje obsega posojil lahko deloma tudi posledica nadomeščanja posojil s tržnim financiranjem .
Given the typical lags between turning points in economic activity and those in the demand for bank loans , growth in loans can be expected to remain weak over the months to come .
Glede na običajni zamik med točko obrata v gospodarski aktivnosti in povpraševanju po bančnih posojilih je mogoče pričakovati , da bo rast posojil v prihodnjih mesecih ostala šibka .
In the meantime , the real cost of external financing for non-financial enterprises has declined further , while the net tightening of credit standards applied by banks has continued to diminish , as indicated by the Bank Lending Survey for the last quarter of 2009 .
Realni stroški zunanjega financiranja za nefinančne družbe so se še nadalje zmanjšali , neto zaostrovanje kreditnih standardov pri bankah pa se je še naprej upočasnjevalo , kot je pokazala anketa o bančnih posojilih za zadnje četrtletje lanskega leta .
At the same time , banks have continued to reduce the size of their overall balance sheets over the past few months .
Obenem so banke v zadnjih nekaj mesecih še naprej zmanjševale obseg svoje skupne bilance stanja .
In this respect , the challenge remains for banks to adjust the size and structure of their balance sheets while ensuring the availability of credit to the non-financial sector .
Na tem področju se banke še vedno soočajo z izzivom , kako prilagoditi obseg in strukturo bilance stanja ter hkrati zagotavljati ponudbo kreditov nefinančnemu sektorju .
To address this challenge , banks should use the improved funding conditions to strengthen their capital bases further and , where necessary , take full advantage of government support measures for recapitalisation .
Da bi se lahko učinkovito spoprijele s tem izzivom , bi morale izboljšane pogoje financiranja izkoristiti za nadaljnjo krepitev kapitalske osnove in po potrebi v celoti izkoristiti državne ukrepe za pomoč pri dokapitalizaciji .
This is important to facilitate access to finance , especially for those enterprises that do not have recourse to market-based financing .
To je pomembno za zagotovitev lažjega dostopa do financiranja , kar še posebej velja za tista podjetja , ki nimajo dostopa do tržnega financiranja .
To sum up , the current key ECB interest rates remain appropriate .
Povzamemo lahko , da sedanje ključne obrestne mere ECB ostajajo ustrezne .
A cross-check of the outcome of the economic analysis with that of the monetary analysis confirms the assessment of low inflationary pressure over the medium term .
Navzkrižna primerjava rezultatov ekonomske in denarne analize potrjuje oceno o šibkih inflacijskih pritiskih v srednjeročnem obdobju .
The Governing Council will continue its enhanced credit support to the banking system , while taking into account the ongoing improvement in financial market conditions and avoiding distortions associated with maintaining non-standard measures for too long .
Svet ECB bo tudi v prihodnje nudil okrepljeno kreditno podporo bančnemu sistemu , hkrati pa glede na dejstvo , da se razmere na finančnih trgih še naprej izboljšujejo , preprečeval izkrivljanja , ki bi se lahko pojavila , če bi nestandardne ukrepe vzdrževal predolgo .
The Governing Council will , in early March , take decisions on the continued implementation of the gradual phasing-out of the extraordinary liquidity measures that are not needed to the same extent as in the past .
V začetku marca bo Svet odločal o nadaljnjem poteku postopnega umikanja izrednih likvidnostnih ukrepov , ki niso več potrebni v enakem obsegu kot v preteklosti .
In order to counter effectively any threat to price stability over the medium to longer term , the liquidity provided will be absorbed when necessary . Accordingly , the Governing Council will continue to monitor very closely all developments over the period ahead .
Da bi lahko učinkovito preprečil vsakršno grožnjo za stabilnost cen v srednjeročnem in dolgoročnejšem obdobju , bo , ko bo to potrebno , umaknil zagotovljeno likvidnost . Zato bo vsa gibanja zelo natančno spremljal tudi v prihodnjem obdobju .
As regards fiscal policies , many euro area countries are faced with large , sharply rising fiscal imbalances , which risk leading to less favourable medium and long-term interest rates and lower levels of private investment .
Na področju javnofinančnih politik se številne države soočajo z velikimi javnofinančnimi neravnovesji , ki se strmo povečujejo , kar lahko privede do manj ugodnih srednje - in dolgoročnih obrestnih mer ter nižje ravni zasebnih investicij .
Moreover , high levels of public deficit and debt place an additional burden on monetary policy and undermine the Stability and Growth Pact as a key pillar of Economic and Monetary Union .
Poleg tega velik javni primanjkljaj in dolg pomenita dodatno breme za denarno politiko in ogrožata izvajanje Pakta za stabilnost in rast kot ključnega stebra ekonomske in monetarne unije .
Against this background , it is of paramount importance that the stability programme of each euro area country is underpinned with concrete measures in line with the fiscal exit and consolidation strategies for the period ahead .
V tej luči je zato izjemnega pomena , da vsaka država euroobmočja svoj program stabilnosti podpre s konkretnimi ukrepi , ki so usklajeni s strategijo javnofinančnega izhoda in konsolidacije za prihodnje obdobje .
Countries will be required to meet their commitments under the excessive deficit procedures .
Države bodo svoje zaveze morale izpolniti po postopku v zvezi s čezmernim primanjkljajem .
Consolidation of public finances should start in 2011 at the latest and will have to exceed substantially the annual adjustment of 0.5% of GDP set as a minimum requirement by the Stability and Growth Pact .
Konsolidacija javnih financ bi se morala začeti najkasneje v letu 2011 in bo morala bistveno preseči letno prilagoditev 0,5% BDP , ki ga kot minimalno zahtevo določa Pakt za stabilnost in rast .
A strong focus on expenditure reforms is needed .
Potreben je močan poudarek na reformah odhodkov .
The key challenge in order to reinforce sustainable growth and job creation is to accelerate structural reforms , as the financial crisis has negatively affected the productive capacity of the euro area economies .
Glavni izziv v prizadevanjih za okrepitev vzdržne gospodarske rasti in ustvarjanja novih delovnih mest je pospešitev strukturnih reform , saj je finančna kriza zmanjšala produktivno sposobnost gospodarstev euroobmočja .
In the case of product markets , policies that enhance competition and innovation are urgently needed to speed up restructuring and investment and to create new business opportunities .
Na trgih proizvodov je za hitrejše prestrukturiranje in rast naložb ter ustvarjanje novih poslovnih priložnosti treba čim prej oblikovati politike , ki povečujejo konkurenco in spodbujajo inovativnost .