natgillin/translations-raw huggingface dataset:
paragraphs 6 to 10 of ECB Opinion CON / 2005/4 of 17 February 2005 at the request of the Council of the European Union on a proposal for directives of the European Parliament and of the Council recasting Directive 2000/12 / EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions and Council Directive 93/6 / EEC of 15 March 1993 on the capital adequacy of investment firms and credit institutions ( OJ C 52 , 2.3.2005 , p. 37 ) and paragraph 3.5 of ECB Opinion CON / 2006/60 of 18 December 2006 on a proposal for a Directive amending certain Community directives as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of shareholdings in the financial sector ( OJ C 27 , 7.2.2007 , p. 1 ) .
37 ) in odstavek 3.5 mnenja ECB CON / 2006/60 z dne 18 . decembra 2006 o predlogu Direktive o spremembah nekaterih direktiv Skupnosti glede postopkovnih pravil in ocenjevalnih meril za oceno varnega in skrbnega poslovanja pri pridobitvah in zvišanju imetništva delnic v finančnem sektorju ( UL C 27 , 7.2.2007 , str .
( 2 ) OJ L 177 , 30.6.2006 , p. 1 .
1 ) . ( 2 ) UL L 177 , 30.6.2006 , str .
( 3 ) OJ L 177 , 30.6.2006 , p. 201 .
( 3 ) UL L 177 , 30.6.2006 , str . 201 .
( 4 ) See Articles 150 and 151 of Directive 2006/48 / EC and the amendments to these provisions in the proposed directive .
( 4 ) Glej člena 150 in 151 Direktive 2006/48 / ES ter spremembe teh določb v predlagani direktivi .
( 5 ) Basel Committee on Banking Supervision , « International Convergence of Capital Measurement and Capital Standards : A Revised Framework » , Bank for International Settlements ( BIS ) , June 2004 , available on the BIS 's website at www.bis.org ( 6 ) See in this respect the new recitals 1 and 7 , Article 42b , Article 63a ( 6 ) and the second subparagraph of Article 131a ( 2 ) .
( 5 ) Baselski odbor za bančni nadzor , International Convergence of Capital Measurement and Capital Standards : A Revised Framework ( Mednarodno zbliževanje izračunavanja kapitala in kapitalskih standardov : revidirani okvir ) , Banka za mednarodne poravnave ( BIS ) , junij 2004 , dostopno na spletni strani BIS na naslovu www.bis.org ( 6 ) V zvezi s tem glej novi uvodni izjavi 1 in 7 , člen 42b , člen 63a ( 6 ) in drugi pododstavek člena 131a ( 2 ) .
( 7 ) See in this respect the Joint Practical Guide of the European Parliament , the Council and the Commission for persons involved in the drafting of legislation within the Community institutions , in particular Recommendations 12 and 17 , pp. 38 and 54 , available on the Europa website at www.europa.eu
( 7 ) V zvezi s tem glej „Skupna praktična navodila Evropskega parlamenta , Sveta in Komisije za osebe , vključene v pripravo pravnih aktov v institucijah Skupnosti » , zlasti priporočili 12 in 17 , str . 27 in 38 , dostopno na spletni strani Europa na naslovu www.europa.eu
Level 2 implementing measures which would be adopted by the Commission under its comitology powers and would apply uniformly across the Member States ( 1 ) .
po postopku soodločanja bodisi v obliki izvedbenih ukrepov na ravni dve , ki bi jih sprejela Komisija skladno s svojimi komitološkimi pristojnostmi in ki bi se enotno uporabljali po državah članicah ( 1 ) .
The ECB understands that a number of the amendments proposed by the Commission to Directives 2006/48 / EC and 2006/49 / EC have been prompted by the recent financial turbulence and that restructuring these directives was not conceivable in the current context .
ECB razume , da so mnogo sprememb direktiv 2006/48 / ES in 2006/49 / ES , ki jih predlaga Komisija , spodbudile nedavne finančne turbulence in da v trenutni situaciji prestrukturiranje teh direktiv ni bilo možno .
In the ECB 's view , however , a radical overhaul of these directives along the principles described above would greatly contribute to enhancing the transparency and legal certainty of Community banking legislation .
Kljub temu pa ECB meni , da bi korenita prenova teh direktiv ob upoštevanju zgoraj opisanih načel v veliki meri prispevala k izboljšanju preglednosti in pravne varnosti bančne zakonodaje Skupnosti .
The current market turmoil has also highlighted the importance of legal instruments that can be amended easily to adapt to changing circumstances , i.e. Level 2 implementing measures , leaving only the framework principles to the rigid Level 1 acts , as they tend to be more permanent .
Trenutni tržni pretresi so poudarili tudi pomen pravnih instrumentov , ki jih je lahko spremeniti , da bi se prilagodili spremenljivim razmeram , tj . izvedbenih ukrepov na ravni dve , ki togim aktom na ravni ena prepuščajo le urejanje okvirnih načel , saj so ta v glavnem trajnejša .
The ECB would urge the EU legislator , also in the light of the high-level expert group 's findings , to consider the above recommendations .
ECB poziva zakonodajalca EU , da , tudi v luči ugotovitev strokovne skupine na visoki ravni , preuči zgornja priporočila .
Comitology 5 .
Komitologija 5 .
The Commission has recently proposed two draft implementing directives regarding technical provisions concerning risk management ( 2 ) .
Komisija je nedavno predlagala izvedbeni direktivi glede tehničnih določb o upravljanju tveganj ( 2 ) .
The ECB notes that some of these technical provisions relate to securitisation and the methodologies employed by external credit assessment institutions .
ECB ugotavlja , da se nekatere izmed teh tehničnih določb nanašajo na listinjenje in metodologije , ki jih uporabljajo zunanje bonitetne institucije .
While the ECB does not have any particular observations on these specific provisions , it agrees with the Commission 's views regarding the sequencing of Level 1 and Level 2 measures ( 3 ) , that : ( i ) as a rule and for the sake of legal coherence and transparency , Level 2 measures should not precede Level 1 measures and thus risk preempting the discussion on their substance ;
Medtem ko ECB nima posebnih pripomb na te konkretne določbe , se strinja s pogledi Komisije o določanju zaporedja ukrepov na ravni ena in ravni dve ( 3 ) , da : ( i ) se praviloma ter zaradi pravne skladnosti in preglednosti ukrepi na ravni dve ne smejo sprejeti prej kot ukrepi na ravni ena in s tem tvegati prejudiciranje razprave o njihovi vsebini ;
and ( ii ) work on Level 1 and 2 measures should be carried out as much as possible in parallel .
in ( ii ) bi moralo delo v zvezi z ukrepi na ravni ena in na ravni dve potekati vzporedno , kolikor je to le mogoče .
This would also facilitate the exercise by the ECB of its advisory role under Article 105 ( 4 ) of the Treaty on proposed Community acts ( including draft Level 2 implementing measures ) .
To bi tudi olajšalo izvajanje svetovalne vloge ECB po členu 105 ( 4 ) Pogodbe glede predlaganih aktov Skupnosti ( vključno z osnutki izvedbenih ukrepov na ravni dve ) .
Specific observations Inter-bank exposures and implementation of monetary policy ( new proposed Article 113 ( 3 ) and ( 4 ) of Directive 2006/48 / EC ) 6 .
Posamezne pripombe Medbančne izpostavljenosti in izvajanje denarne politike ( novi predlagani člen 113 ( 3 ) in ( 4 ) Direktive 2006/48 / ES ) 6 .
The ECB broadly welcomes the objective of liquidity management in credit institutions particular , the ECB shares the Commission 's as banks , although regulated , can fail and management ( 5 ) . the proposed directive , which is to improve risk and including with regard to inter-bank exposures ( 4 ) .
ECB v splošnem pozdravlja namen predlagane direktive , da se izboljša upravljanje tveganj in likvidnosti v kreditnih institucijah , vključno glede medbančnih izpostavljenosti ( 4 ) . ECB zlasti deli mnenje Komisije , da medbančne izpostavljenosti predstavljajo znatno tveganje , ker banke kljub temu , da so regulirane , lahko prenehajo delovati , in da je treba velike medbančne izpostavljenosti zelo preudarno upravljati ( 5 ) .
The ECB notes that the proposed directive introduces an exemption for « asset items constituting claims on and other exposures to institutions , provided that these exposures ...
ECB ugotavlja , da predlagana direktiva uvaja izvzetje za „aktivne postavke , ki predstavljajo terjatve in druge izpostavljenosti do institucij , pod pogojem , da te izpostavljenosti (...
do not last longer than the following business day and are denominated in a currency of the Member State exercising this option , provided that such currency is not the euro » ( 6 ) .
) ne trajajo dlje kot do naslednjega delovnega dne in so denominirane v valuti države članice , ki uporablja to možnost , pod pogojem , da ta valuta ni euro » ( 6 ) .
The ECB is of the view that the above provision raises concerns in terms of the level playing field and that this provision should be amended to provide for equal treatment among Member States .
ECB meni , da zgornja določba zbuja pomisleke glede obstoja enakih konkurenčnih pogojev in da bi se ta določba morala spremeniti tako , da bi zagotavljala enako obravnavanje med državami članicami .
( 1 ) The Lamfalussy Committee itself pointed out in 2001 that these interpretative recommendations and common standards « regarding matters not covered by EU legislation --- where necessary , could be adopted into Community Law through a Level 2 procedure » ( see Final report of the Committee of Wise Men on the regulation of European securities markets , 15.2.2001 , p. 37 , available on the Europa website at www.europa.eu ) .
( 1 ) Lamfalussyjev odbor je leta 2001 sam poudaril , da bi se ta pojasnjevalna priporočila in skupni standardi „o zadevah , ki jih ne zajema zakonodaja EU -- kjer je to potrebno , lahko sprejela v pravo Skupnosti skozi postopek na ravni dve » ( glej Final report of the Committee of Wise Men on the regulation of European securities markets ( Končno poročilo Odbora modrecev o ureditvi evropskih trgov vrednostnih papirjev ) , 15.2.2001 , str . 37 , dostopno na spletni strani Europa na naslovu www.europa.eu ) .
( 2 ) Draft Commission Directive amending certain Annexes to Directive 2006/48 / EC of the European Parliament and of the Council as regards technical provisions concerning risk management and draft Commission Directive amending certain Annexes to Directive 2006/49 / EC of the European Parliament and of the Council as regards technical provisions concerning risk management , available on the Commission 's website at www.ec.europa.eu ( 3 ) Communication from the Commission --- Review of the Lamfalussy process --- Strengthening supervisory convergence , 20.11.2007 , COM ( 2007 ) 727 final , available on the Commission 's website at www.ec.europa.eu ( 4 ) See paragraphs 6.2.3 and 6.4.5 of the Explanatory Memorandum to the proposed directive , pp. 8 and 10 .
( 2 ) Predlog direktive Komisije o spremembah nekaterih prilog k Direktivi 2006/48 / ES Evropskega parlamenta in Sveta glede tehničnih določb o upravljanju tveganj in predlog direktive Komisije o spremembah nekaterih prilog k Direktivi 2006/49 / ES Evropskega parlamenta in sveta glede tehničnih določb o upravljanju tveganj , dostopno na spletni strani Komisije na naslovu www.ec.europa.eu ( 3 ) Sporočilo Komisije -- Pregled Lamfalussyjevega postopka -- Okrepitev konvergence nadzora , 20.11.2007 , COM ( 2007 ) 727 konč . , dostopno na spletni strani Komisije na naslovu www.ec.europa.eu ( 4 ) Glej odstavka 6.2.3 in 6.4.5 obrazložitvenega memoranduma k predlagani direktivi , str .
( 5 ) See paragraph 6.2.3 of the Explanatory Memorandum to the proposed directive , p. 8 .
( 5 ) Glej odstavek 6.2.3 obrazložitvenega memoranduma k predlagani direktivi , str .
( 6 ) Proposed Article 113 ( 4 )( f ) .
( 6 ) Predlagani člen 113 ( 4 )( f ) .
Furthermore , the ECB calls for caution when designing measures on limits to inter-bank exposures as the proposed measures should avoid impairing the smooth flow of liquidity within the inter-bank market .
ECB nadalje opozarja na previdnost pri oblikovanju ukrepov za omejevanje medbančnih izpostavljenosti , saj bi se predlagani ukrepi morali izogniti poslabšanju nemotenega pretoka likvidnosti na medbančnem trgu .
From a monetary policy implementation perspective , constraining the smooth flow of liquidity within the inter-bank market , in particular at very short maturities that are overnight or up to one week would not be desirable , either in normal circumstances or in the current financial market turmoil .
Z vidika izvajanja denarne politike omejitve nemotenega pretoka likvidnosti na medbančnem trgu , zlasti pri zelo kratki zapadlosti , čez noč ali do enega tedna , niso zaželene , ne v normalnih okoliščinah ne v trenutnem obdobju pretresov na finančnih trgih .
Indeed , in normal times the trading activities of Eurosystem counterparties are instrumental in redistributing short-term liquidity in the market and therefore they should not be constrained , as this would be detrimental to the smooth steering of the short-term money market rates towards the minimum bid rate on the Eurosystem 's main refinancing operations .
V normalnih časih je trgovanje nasprotnih strank Eurosistema dejansko bistvenega pomena pri prerazporejanju kratkoročne likvidnosti na trgu in se ga zato ne sme omejiti , saj bi to škodovalo nemotenemu usmerjanju kratkoročnih obrestnih mer na denarnem trgu proti izklicni obrestni meri pri operacijah glavnega refinanciranja Eurosistema .
In connection with the above , the ECB underlines that borrowing with short maturity does not entail a risk of a similar magnitude compared to borrowing with a longer maturity .
V povezavi z zgornjim ECB poudarja , da izposojanje s kratkim rokom zapadlosti ne vsebuje tveganj podobnega obsega , kakor izposojanje z daljšim rokom zapadlosti .
Furthermore , credit quality also varies across counterparties .
Nadalje , kreditna kakovost se prav tako razlikuje glede na nasprotne stranke .
With regard to the proposed limit on inter-bank exposures of 25 % of the credit institution 's own funds or the amount of EUR 150 million ( 1 ) , regardless of their maturity , internal quantitative analysis by the ECB suggests that a non-negligible share of banks would have been constrained in their overnight lending activities in a substantial number of transactions if the limit had been in place before the start of the financial market turmoil in August 2007 .
V zvezi s predlagano omejitvijo medbančnih izpostavljenosti na 25 % lastnih sredstev kreditne institucije ali 150 milijonov EUR ( 1 ) ne glede na njihovo zapadlost interna kvantitativna analiza ECB izkazuje , da bi bil nezanemarljiv delež bank omejen pri dajanju posojil čez noč pri bistvenem številu transakcij , če bi se omejitev uporabljala pred začetkom pretresov na finančnih trgih avgusta 2007 .
This constitutes a substantial and undesirable change when compared to the current EU legal framework , which allows Member States to fully or partially exempt « claims on and other exposures to institutions , with a maturity of one year or less » from the application of rules on large exposures ( 2 ) .
To predstavlja bistveno in nezaželeno spremembo v primerjavi s sedanjim pravnim okvirom EU , ki državam članicam dovoljuje , da iz uporabe pravil za velike izpostavljenosti v celoti ali delno izvzamejo „terjatve in druge izpostavljenosti do institucij , z zapadlostjo enega leta ali manj » ( 2 ) .
From a monetary policy implementation perspective , the ECB is of the view that the above proposed limit would constrain the smooth flow of liquidity within the inter-bank market and could be detrimental to the smooth functioning of the euro money market .
Z vidika izvajanja denarne politike ECB meni , da bi zgornje predlagane omejitve ohromile nemoten pretok likvidnosti na medbančnem trgu in bi lahko škodovale nemotenemu delovanju eurskega denarnega trga .
In this context , while the ECB stresses that credit institutions should have in place mitigation measures and monitoring tools in line with the requirements set out in Annex V to Directive 2006/48 / EC to address potential risks associated with very short-term inter-bank exposures , it would however welcome the introduction of an exemption for claims with a very short maturity , e.g. one week or less , from the application of the large exposures regime .
V zvezi s tem ECB poudarja , da bi kreditnim institucijam morali biti na voljo ukrepi za zmanjšanje tveganj in orodja za spremljanje tveganj v skladu z zahtevami , določenimi v Prilogi V Direktive 2006/48 / ES , da bi z njimi obravnavala potencialna tveganja , povezana z zelo kratkoročnimi medbančnimi izpostavljenostmi , pozdravila pa bi tudi uvedbo izvzetja iz uporabe pravil za velike izpostavljenosti za terjatve z zelo kratko zapadlostjo , npr .
In addition , it would welcome an EU-wide analysis of the money market and --- based on this analysis --- the possible introduction of certain measures such as an exemption for claims with a maturity of over a week .
Poleg tega bi ECB pozdravila analizo denarnega trga po vsej EU in -- na podlagi te analize -- možnost uvedbe nekaterih ukrepov , kot so izvzetje terjatev z zapadlostjo več kot en teden .
Liquidity issues ( new proposed Annexes V and XI and Article 41 ) 10 .
Vprašanja v zvezi z likvidnostjo ( novi predlagani prilogi V in XI ter člen 41 ) 10 .
In the ECB 's view , the amendments to Directive 2006/48 / EC regarding liquidity risk ( 3 ) , which implement the work conducted by the Basel Committee on Banking Supervision ( BCBS ) ( 4 ) and the CEBS ( 5 ) , are a necessary and welcome step in view of the importance of liquidity risk management revealed by the current market turmoil .
ECB meni , da so spremembe Direktive 2006/48 / ES glede likvidnostnega tveganja ( 3 ) , ki implementirajo delo , ki sta ga opravila Baselski odbor za bančni nadzor ( BCBS ) ( 4 ) in CEBS ( 5 ) , potreben in dobrodošel korak glede na pomembnost upravljanja likvidnostnega tveganja , kakor se je izkazala v trenutnih pretresih na trgih .
In this respect , considering also possible future work by the Commission , it is important to provide further guidance on key aspects such as the definition and setting of risk tolerance ( 6 ) and the adequacy of liquidity buffers ( 7 ) .
V zvezi s tem in tudi ob upoštevanju možnega prihodnjega dela Komisije je pomembno zagotoviti nadaljnje usmeritve glede ključnih vidikov , kot so opredelitev in določitev meja dovoljenega tveganja ( 6 ) ter ustreznost likvidnostnih blažilcev ( 7 ) .
Taking into account their financial stability tasks , it is necessary to ensure that central banks have appropriate access to the information related to banks » contingency funding plans .
Ob upoštevanju nalog centralnih bank v zvezi s finančno stabilnostjo jim je treba zagotoviti , da imajo primeren dostop do informacij o načrtih kriznega financiranja bank .
See the second subparagraph of proposed Article 111 ( 1 ) .
( 1 ) ( 2 ) ( 3 ) ( 4 ) Glej drugi pododstavek predlaganega člena 111 ( 1 ) .
New Article 113 ( 3 )( i ) .
Novi člen 113 ( 3 )( i ) .
See the new Annex V. See Principles for Sound Liquidity Risk Management and Supervision , Basel Committee on Banking Supervision , September 2008 , available on the BIS » website at www.bis.org ( 5 ) See the First part of the CEBS » technical advice on liquidity risk management --- Survey of the current regulatory frameworks adopted by the EEA regulators , 15.8.2007 and the Second part of the CEBS 's technical advice to the European Commission on liquidity risk management --- Analysis of specific issues listed by the Commission and challenges not currently addressed in the EEA , 18.9.2008 , CEBS 2008 147 , available on the CEBS » website at www.c-ebs.org ( 6 ) See the new point 14a of Annex V. ( 7 ) See new points 14 and 18 of Annex V and new point 1 ( e ) of Annex XI . ( 1 ) ( 2 ) ( 3 ) ( 4 )
Glej novo Prilogo V. Glej Principles for Sound Liquidity Risk Management and Supervision ( Načela učinkovitega upravljanja in nadzora likvidnostnega tveganja ) , Baselski odbor za bančni nadzor , september 2008 , dostopno na spletni strani BIS na naslovu www.bis.org ( 5 ) Glej First part of the CEBS » technical advice on liquidity risk management -- Survey of the current regulatory frameworks adopted by the EEA regulators ( Prvi del tehničnega nasveta odbora CEBS glede upravljanja likvidnostnega tveganja -- Pregled trenutnih normativnih okvirov , ki so jih sprejeli regulatorji v EGP ) , 15.8.2007 , in Second part of the CEBS 's technical advice to the European Commission on liquidity risk management -- Analysis of specific issues listed by the Commission and challenges not currently addressed in the EEA ( Drugi del tehničnega nasveta Evropski komisiji glede upravljanja likvidnostnega tveganja -- Analiza posebnih vprašanj , ki jih je navedla Komisija , in izzivov , ki v EGP trenutno niso urejeni ) , 18.9.2008 , CEBS 2008 147 , dostopno na spletni strani odbora CEBS na naslovu www.c-ebs.org ( 6 ) Glej novo točko 14a v Prilogi V. ( 7 ) Glej novi točki 14 in 18 v Prilogi V in novo točko 1 ( e ) v Prilogi XI .
The ECB notes that , in its recent technical advice to the Commission on liquidity risk management ( 1 ) , the CEBS recommends that the supervisors of cross-border groups should coordinate their work closely , notably through enhanced exchanges of information , and in particular within the colleges of supervisors , to better understand groups » liquidity risk profiles and to avoid unnecessary duplication of requirements .
ECB ugotavlja , da CEBS v svojem nedavnem tehničnem nasvetu Komisiji glede upravljanja likvidnostnega tveganja ( 1 ) priporoča , da bi morali nadzorniki čezmejnih skupin tesno usklajevati svoje delo , predvsem preko izboljšane izmenjave informacij in zlasti znotraj kolegijev nadzornikov , da bi bolje razumeli profil likvidnostnega tveganja teh skupin in se izognili nepotrebnemu podvajanju zahtev .
When appropriate , the CEBS suggests that supervisors should actively consider delegating to home country supervisors tasks relating to the supervision of branches » liquidity .
Kjer je to primerno , CEBS predlaga , da bi nadzorniki morali aktivno preučiti možnost prenosa nalog v zvezi z nadzorom likvidnosti podružnic na nadzornike v matični državi .
Having regard to the on-going work on liquidity risk management and liquidity concessions practices ( 2 ) , the ECB notes that one consequence of economic and monetary union is that only the home Member State should be responsible for supervising the liquidity of credit institution branches within the euro area .
Ob upoštevanju tekočega dela v zvezi s prakso upravljanja likvidnostnega tveganja in koncesijami v zvezi z likvidnostjo ( 2 ) ECB ugotavlja , da je ena od posledic ekonomske in monetarne unije ta , da bi samo matična država članica morala biti odgovorna za nadziranje likvidnosti podružnic kreditnih institucij znotraj euroobmočja .
In the context of a future review of Directive 2006/48 / EC , the home and host Member States which have adopted the euro could be distinguished from the Member States which have not done so .
V okviru prihodnjih pregledov Direktive 2006/48 / ES bi se lahko uvedlo razlikovanje med matičnimi državami članicami in državami članicami gostiteljicami , ki so sprejele euro , ter državami članicami , ki tega še niso storile .
Where the competent authorities of the home and host Member States have a different currency , the branch could be subject to the liquidity conditions of the host Member State .
Kadar imajo pristojni organi matične države članice in države članice gostiteljice različno valuto , bi za podružnico lahko veljali likvidnostni pogoji države članice gostiteljice .
However , within the euro area , this distinction has lost its relevance for branches since they share the same balance sheet as the head office , in the same currency , and they do not need any specific own funds or capital .
Toda znotraj euroobmočja je to razlikovanje za podružnice izgubilo pomen , saj imajo z matično institucijo isto bilanco stanja , v isti valuti , in ne potrebujejo posebnih lastnih sredstev ali kapitala .