natgillin/translations-raw huggingface dataset:
( 26 ) In Chapter 5 , Section 5.3.1 , the first sentence of the first paragraph is replaced by the following : « Money transactions relating to the use of Eurosystem standing facilities or to participation in open market operations are settled on the counterparties » accounts with the national central banks or on the accounts of settlement banks participating in TARGET2 .'
26 . V poglavju 5 , oddelek 5.3.1 , se prvi stavek v prvem odstavku nadomesti z naslednjim : „Denarne transakcije , povezane z uporabo odprtih ponudb Eurosistema ali sodelovanjem v operacijah odprtega trga , se poravnajo preko računov nasprotnih strank pri nacionalnih centralnih bankah ali preko računov poravnalnih bank udeleženk v sistemu TARGET2 ."
( 27 ) In Chapter 5 , Section 5.3.2 , the first sentence of the first paragraph is replaced by the following : « Open market operations based on standard tenders , i.e. main refinancing operations , longer-term refinancing operations and structural operations , are normally settled on the first day following the trade day on which ( i ) TARGET2 ;
V poglavju 5 , oddelek 5.3.2 , se prvi stavek v prvem odstavku nadomesti z naslednjim : „Operacije odprtega trga na podlagi standardnih avkcij , tj . operacije glavnega refinanciranja , operacije dolgoročnejšega refinanciranja in strukturne operacije , se običajno poravnajo na prvi dan po trgovalnem dnevu , ko so ( i ) sistem TARGET2 ;
and ( ii ) all relevant SSSs are open .'
in ( ii ) vsi zadevni PSVP odprti za poslovanje ."
( 28 ) In Chapter 5 , Section 5.3.3 , is replaced by the following : « 5.3.3 . End-of-day procedures The end-of-day procedures are specified in documentation related to TARGET2 .
28 . V poglavju 5 se oddelek 5.3.3 nadomesti z naslednjim : „ 5.3.3 Postopki ob koncu dneva Postopki ob koncu dneva so opredeljeni v dokumentaciji v zvezi s sistemom TARGET2 .
No further payment orders are accepted for processing in TARGET2 after the closing time , although remaining payment orders accepted before the closing time are still processed .
Po času zaprtja se nadaljnji plačilni nalogi za obdelavo v sistemu TARGET2 ne sprejemajo , čeprav so preostali plačilni nalogi , ki so bili sprejeti pred časom zaprtja , še vedno v obdelavi .
Counterparties » requests for access to the marginal lending facility or to the deposit facility must be submitted to the respective national central bank at the latest 15 minutes following the TARGET2 closing time .
Nasprotne stranke morajo zahtevke za dostop do odprte ponudbe mejnega posojila ali mejnega depozita predložiti ustrezni nacionalni centralni banki najkasneje 15 minut po času zaprtja sistema TARGET2 .
The deadline for requesting access to the Eurosystem 's standing facilities is postponed by an additional 15 minutes on the last Eurosystem business day of a minimum reserve maintenance period (*) .
Rok za zahtevek za dostop do odprtih ponudb Eurosistema se na zadnji delovni dan Eurosistema v obdobju izpolnjevanja obveznih rezerv podaljša za dodatnih 15 minut (*) .
Any negative balances on the settlement accounts in TARGET2 of eligible counterparties remaining after the finalisation of the end-of-day control procedures are automatically considered to be a request for recourse to the marginal lending facility ( see Section 4.1 ) .
Negativna stanja na poravnalnih računih primernih nasprotnih strank v sistemu TARGET2 , ki ostanejo po zaključku kontrolnih postopkov ob koncu dneva , se avtomatično štejejo kot zahtevek za dostop do odprte ponudbe mejnega posojila ( glej oddelek 4.1 ) .
___________ (*) Until an NCB has migrated to TARGET2 , the deadline for requesting access to the Eurosystem 's standing facilities with that NCB will be 30 minutes following the system 's closing time ( 6 p.m. CET ) , to be postponed by an additional 30 minutes on the last Eurosystem business day of a minimum reserve maintenance period .'
___________ (*) Dokler NCB ne migrira na system TARGET2 , bo rok za zahtevek za dostop do odprtih ponudb Eurosistema pri tej NCB 30 minut po času zaprtja sistema ( ob 18.00 po srednjeevropskem času ) , ki se na zadnji delovni dan Eurosistema v obdobju izpolnjevanja obveznih rezerv podaljša za dodatnih 30 minut ."
( 29 ) In Chapter 6 , Section 6.6.1 , the last sentence of the section is replaced by the following : « In exceptional circumstances or when required for monetary policy purposes , the ECB may decide to extend the CCBM 's closing time until the TARGET2 closing time .'
29 . V poglavju 6 , oddelek 6.6.1 , se zadnji stavek v oddelku nadomesti z naslednjim : „V izjemnih okoliščinah ali kadar se to zahteva za namene denarne politike , se ECB lahko odloči , da odloži čas zaprtja modela CCBM do časa zaprtja sistema TARGET2 ."
( 30 ) All the footnotes not referred to above are renumbered accordingly .
30 . Vse opombe , ki zgoraj niso omenjene , se ustrezno preštevilčijo .
( 31 ) The resulting Appendix 2 (' Glossary ') to Annex I to Guideline ECB / 2000/7 is amended as follows : ( i ) The term « End-of-day » is replaced by the following : « End-of-day : the time of the business day following closure of TARGET2 at which the payments processed in the TARGET2 are finalised for the day .
31 . Po novem Dodatek 2 ( „Glosar ") k Prilogi I k Smernici ECB / 2000/7 se spremeni , kot sledi : ( i ) Izraz „Konec dneva » se nadomesti z naslednjim : „Konec dneva : čas v delovnem dnevu po zaprtju sistema TARGET2 , ko se plačila , obdelana v sistemu TARGET2 , za ta dan zaključijo .
Where applicable , the term relates to the TARGET system accordingly , until the NCB has migrated to TARGET2 .'
Kadar je to primerno , se izraz ustrezno nanaša na sistem TARGET , dokler NCB ne migrira na sistem TARGET2 ."
( ii ) The term « Interlinking mechanism » is deleted .
( ii ) Izraz „Povezovalni mehanizem ( interlinking ) » se črta .
( iii ) The term « RTGS ( real-time gross settlement ) » is replaced by the following : « RTGS ( real-time gross settlement ) system : a settlement system in which processing and settlement take place on an order-by-order basis without netting continuously in real time .
( iii ) Izraz „Sistem BPRČ ( bruto poravnava v realnem času ) » se nadomesti z naslednjim : „Sistem BPRČ ( bruto poravnava v realnem času ) : poravnalni sistem , v katerem se obdelava in poravnava opravita po posameznih naročilih brez pobota nepretrgano v realnem času .
See also TARGET2 .'
Glej tudi Sistem TARGET2 ."
( iv ) The item « Settlement account » is replaced by the following : « Settlement account : an account held by a direct participant in TARGET2 with the central bank for the purpose of processing payments .'
( iv ) Izraz „Poravnalni račun » se nadomesti z naslednjim : „Poravnalni račun : račun , ki ga ima neposredna udeleženka v sistemu TARGET2 pri centralni banki za namen obdelave plačil ."
( v ) The item « TARGET » is replaced by the following : « TARGET : the predecessor of the TARGET2 system , operating in a decentralised structure linking together national RTGS systems and the ECB payment mechanism .
( v ) Izraz „Sistem TARGET ( transevropski sistem bruto poravnave v realnem času ) » se nadomesti z naslednjim : „Sistem TARGET : predhodnik sistema TARGET2 , ki deluje v decentralizirani strukturi in povezuje skupaj nacionalne sisteme BPRČ in plačilni mehanizem ECB .
The TARGET system is replaced by the TARGET2 system in accordance with the migration schedule specified in Article 13 of Guideline ECB / 2007/2 .'
Sistem TARGET se nadomesti s sistemom TARGET2 v skladu z urnikom migracije , določenim v členu 13 Smernice ECB / 2007/2 ."
( vi ) After the term « TARGET » the following is inserted : « TARGET2 ( Trans-European Automated Real-time Gross settlement Express Transfer system ) : the real-time gross settlement system for the euro , providing settlement of payments in euro in central bank money .
( vi ) Za izrazom „Sistem TARGET » se vstavi naslednje : „Sistem TARGET2 ( transevropski sistem bruto poravnave v realnem času : sistem bruto poravnave v realnem času za euro , ki zagotavlja poravnavo plačil v eurih v centralnobančnem denarju .
TARGET2 is established and functions on the basis of a single platform , through which all payment orders are submitted and processed and through which payments are received in the same technical manner .
Sistem je vzpostavljen in deluje na podlagi enotne platforme , preko katere so vsi plačilni nalogi predloženi in obdelani ter vsa plačila prejeta na tehnično enak način .
TARGET2 is legally structured as a multiplicity of RTGS systems ( TARGET2 component systems ) .'
Sistem TARGET2 je pravno strukturiran kot množica sistemov BPRČ ( komponente sistema TARGET2 ) ."
ANNEX II Annex II to Guideline ECB / 2000/7 (' Additional Minimum Common Features ') is amended as follows : ( 1 ) Paragraph 15 is replaced by the following : « The relevant contractual or regulatory arrangements applied by the NCB must define « business day » as , in relation to an obligation to make a payment , any day on which TARGET2 (*) is operational to effect such a payment and , in relation to an obligation to deliver assets , any day on which the securities settlement systems through which delivery is to be made are open for business in the place where delivery of the relevant securities is to be effected .
PRILOGA II Priloga II k Smernici ECB / 2000/7 ( „Dodatne minimalne splošne značilnosti ") se spremeni , kot sledi : 1 . Odstavek 15 se nadomesti z naslednjim : „Ustrezni pogodbeni ali uredbeni dogovori , ki jih uporablja NCB , morajo opredeliti ‚delovni dan » tako , da bo to v zvezi z obveznostjo plačila dan , ko je sistem TARGET2 (*) operativen za izvedbo takega plačila , in v zvezi z obveznostjo zagotovitve finančnega premoženja dan , ko so poravnalni sistemi vrednostnih papirjev , preko katerih se finančno premoženje zagotovi , odprti za poslovanje v kraju , kjer je treba zagotoviti zadevne vrednostne papirje .
(*) Where applicable , references to « TARGET2 » must be construed as references to « TARGET » until the NCB has migrated to TARGET2 .'
(*) Kjer je to primerno , se sklicevanja na ‚sistem TARGET2 » razlagajo kot sklicevanja na ‚sistem TARGET » , dokler NCB ne migrira na sistem TARGET2 ."
( 2 ) Paragraph 20 ( b )( ii ) is replaced by the following : « on the basis of the sums so established , the NCB must calculate what is due from each party to the other at the repurchase date .
2 . Odstavek 20 ( b )( ii ) se nadomesti z naslednjim : „na podlagi tako dobljenih vsot mora NCB izračunati , koliko je vsaka stranka dolžna drugi na datum povratnega odkupa .
The sums due from one party must be set off against the sums due to the other and only the net balance is payable by the party having the claim thereby valued at the lower amount .
Vsote , ki jih dolguje ena stranka , se pobotajo z vsotami , ki so dolgovane drugi , in stranka , ki ima terjatev , vrednoteno v nižjem znesku , plača samo neto stanje .
Such net balance is due and payable on the next day on which TARGET2 is operational to effect a payment .
To neto stanje dospe in je plačljivo na naslednji dan , ko je sistem TARGET2 operativen za izvedbo plačila .
For the purposes of this calculation , any sums not denominated in euro must be converted into euro on the appropriate date at the rate calculated in accordance with paragraph 16 .'
Za namene tega izračuna je treba vse vsote , ki niso denominirane v eurih , pretvoriti v eure na ustrezne datume po tečaju , ki se izračuna v skladu z odstavkom 16 ."
( 3 ) Paragraph 31 ( b ) is replaced by the following : « On the basis of the sums so established , the NCB must calculate what is due from each party to the other at the retransfer date .
3 . Odstavek 31 ( b ) se nadomesti z naslednjim : „Na podlagi tako dobljenih vsot mora NCB izračunati , koliko je vsaka stranka dolžna drugi na datum povratnega prenosa .
The sums due from one party must be converted into euro where necessary in accordance with paragraph 16 and set off against the sums due to the other .
Vsote , ki jih dolguje ena stranka , se po potrebi pretvorijo v eure v skladu z odstavkom 16 in pobotajo z vsotami , dolgovanimi drugi .
Only the net balance is payable by the party having the claim thereby valued at the lower amount .
Stranka , ki ima terjatev , vrednoteno v nižjem znesku , plača samo neto stanje .
Such net balance is due and payable on the next day on which TARGET2 is operational to effect such a payment .'
To neto stanje dospe in je plačljivo na naslednji dan , ko je sistem TARGET2 operativen za izvedbo tega plačila ."
ANNEX III The table of Eurosystem websites in the new Appendix 5 to Annex I to Guideline ECB / 2000/7 is replaced by the following : « Central Bank Website
PRILOGA III Tabela spletnih strani Eurosistema v po novem Dodatku 5 k Prilogi I k Smernici ECB / 2000/7 se nadomesti z naslednjo : „Centralna banka Spletna stran
www.ecb.int www.nbb.be or www.bnb.be www.bundesbank.de www.centralbank.ie www.bankofgreece.gr www.bde.es www.banque-france.fr www.bancaditalia.it www.centralbank.gov.cy www.bcl.lu www.centralbankmalta.com www.dnb.nl www.oenb.at www.bportugal.pt www.bsi.si www.bof.fi '
www.ecb.int www.nbb.be ali www.bnb.be www.bundesbank.de www.centralbank.ie www.bankofgreece.gr www.bde.es www.banque-france.fr www.bancaditalia.it www.centralbank.gov.cy www.bcl.lu www.centralbankmalta.com www.dnb.nl www.oenb.at www.bportugal.pt www.bsi.si www.bof.fi "
Navigation Path : Home &gt; Publications &gt; Monthly Bulletin &gt; Editorials &gt; 2010 &gt; 13 May 2010
Navigation Path : Home &gt; Publications &gt; Monthly Bulletin &gt; Editorials &gt; 2010 &gt; 13 . maj 2010
EDITORIAL 13 May 2010 - Monthly Bulletin
13 . maj 2010 - Mesečni bilten
Based on its regular economic and monetary analyses , the Governing Council decided at its meeting on 6 May 2010 to leave the key ECB interest rates unchanged .
Svet ECB je na seji 6 . maja 2010 na podlagi redne ekonomske in denarne analize sklenil , da pusti ključne obrestne mere ECB nespremenjene .
Taking into account all new information since its meeting on 8 April 2010 , the Governing Council expects price developments to remain moderate over the policy-relevant horizon .
Glede na vse nove informacije , ki so postale dostopne od zadnje seje 8 . aprila 2010 , Svet ECB pričakuje , da bodo cenovna gibanja v obdobju , ki je pomembno za denarno politiko , ostala umirjena .
Global inflationary pressures -- driven mainly by price developments in commodity markets and in fast-growing economic regions of the world -- are still being counteracted by low domestic price pressures .
Inflacijske pritiske iz svetovnega okolja -- ki jih spodbujajo predvsem gibanja cen na trgih primarnih surovin in v hitro rastočih gospodarskih regijah sveta -- še vedno blažijo šibki cenovni pritiski iz domačega okolja .
The latest information has also confirmed that the economic recovery in the euro area continued in the early months of 2010 .
Najnovejše informacije so potrdile , da se je gospodarsko okrevanje v euroobmočju nadaljevalo tudi v prvih mesecih leta 2010 .
The Governing Council expects the euro area economy to expand at a moderate pace in 2010 , but growth patterns could be uneven in an environment of unusually high uncertainty .
Svet ECB pričakuje , da bo gospodarska rast euroobmočja v letu 2010 zmerna , vendar bo dinamika rasti ob neobičajno visoki negotovosti najbrž neenakomerna .
The outcome of the monetary analysis confirms that inflationary pressures over the medium term remain contained , as suggested by weak money and credit growth .
Rezultati denarne analize potrjujejo , da ostajajo inflacijski pritiski v srednjeročnem obdobju omejeni , kot kaže šibka rast denarja in kreditov .
Monetary policy will do all that is necessary to maintain price stability in the euro area over the medium term . Accordingly , the Governing Council will continue to monitor all developments over the period ahead very closely .
Denarna politika bo storila vse , kar je potrebno , da bi srednjeročno ohranila stabilnost cen v euroobmočju . Svet ECB bo zato bo vsa gibanja zelo natančno spremljal tudi v prihodnjem obdobju .
Turning to the economic analysis , euro area economic activity has been expanding since mid-2009 , after a period of sharp decline .
Kot kaže ekonomska analiza , se po obdobju strmega upada gospodarska aktivnost v euroobmočju od sredine leta 2009 povečuje .
Notably , the economy has benefited from the ongoing recovery in the world economy , the significant macroeconomic stimulus provided and the measures adopted to restore the functioning of the banking system .
Na gospodarstvo so ugodno vplivali predvsem okrevanje svetovnega gospodarstva , obsežne makroekonomske spodbude in sprejeti ukrepi za obnovitev delovanja bančnega sistema .
Recent economic data -- including positive survey indicators -- support the view that the economic recovery in the euro area is continuing in 2010 .
Najnovejši ekonomski podatki -- med drugim tudi pozitivni anketni kazalniki -- podpirajo oceno , da se gospodarsko okrevanje v euroobmočju nadaljuje tudi v letu 2010 .
While adverse weather conditions , in particular , dampened growth in the early part of the year , some strengthening appears to be taking place during the spring .
Čeprav so zlasti neugodne vremenske razmere zavrle rast na začetku leta , pa je spomladi prišlo do določene okrepitve .
Looking ahead , the Governing Council expects real GDP to expand at a moderate pace .
V prihodnjem obdobju Svet ECB pričakuje zmerno rast realnega BDP .
The ongoing recovery at the global level , and its impact on the demand for euro area exports , should provide support to the euro area economy .
Gospodarstvo euroobmočja naj bi spodbudilo sedanje okrevanje na svetovni ravni in vpliv tega na povpraševanje po izvozu euroobmočja .
At the same time , the financial crisis is expected to have a dampening effect on economic growth given the ongoing process of balance sheet adjustment in various sectors , the expectation of low capacity utilisation and weak labour market prospects .
Obenem naj bi finančna kriza zavirala gospodarsko rast zaradi še vedno potekajočega procesa bilančnega prilaganja v različnih sektorjih gospodarstva ter zaradi pričakovanja o šibki izkoriščenosti zmogljivosti in nespodbudnih obetih na trgu dela .
The Governing Council continues to view the risks to this outlook as broadly balanced , in an environment of unusually high uncertainty .
Po mnenju Sveta ECB so tveganja , ki so povezana s temi obeti , v razmerah neobičajno visoke negotovosti še vedno večinoma uravnotežena .
On the upside , the global economy and foreign trade may recover more strongly than projected and confidence may improve more than expected , with the result that the recovery becomes self-sustained .
Na pozitivni strani se lahko bolj , kot je pričakovano , okrepita svetovna gospodarska rast in mednarodna trgovinska menjava , močneje pa se lahko izboljša tudi zaupanje , s čimer bi okrevanje postalo samozadostno .
On the downside , concerns remain relating to renewed tensions in some financial market segments .
Na negativni strani zaskrbljenost še vedno zbujajo obnovljene napetosti v nekaterih segmentih finančnih trgov .
In addition , 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 may also weigh on the downside .
Poleg tega lahko rast zavrejo tudi večji ali dolgotrajnejši negativni povratni učinki med realnim gospodarstvom in finančnim sektorjem , ponovna rast cen nafte in drugih primarnih surovin , stopnjevanje protekcionističnih pritiskov in morebitni neobvladljivi popravki svetovnih neravnovesij .
With regard to price developments , euro area annual HICP inflation was 1.5% in April 2010 , according to Eurostat 's flash estimate , after 1.4% in March .
Na področju cenovnih gibanj je medletna inflacija , merjena z indeksom HICP , v euroobmočju po Eurostatovi prvi oceni aprila 2010 znašala 1,5% , potem ko je bila marca na ravni 1,4% .
This is somewhat higher than expected a few months ago and appears to be related , in particular , to upward pressure in energy prices .
To je nekoliko več , kot je bilo pričakovano pred nekaj meseci , in je povezano zlasti s cenovnimi pritiski s strani energentov .
Looking ahead , global inflationary pressures may increase , driven mainly by price developments in commodity markets and in fast-growing economic regions of the world , while euro area domestic price pressures are still expected to remain contained .
V prihodnjem obdobju se lahko inflacijski pritiski iz svetovnega okolja povečajo , k čemur bodo prispevala predvsem gibanja cen na trgih primarnih surovin in v hitro rastočih gospodarskih regijah sveta , medtem ko naj bi bili cenovni pritiski iz domačega okolja v euroobmočju še naprej omejeni .
As a result , overall inflation rates are expected to be moderate over the policy-relevant horizon .
Tako bo skupna inflacija v obdobju , ki je pomembno za denarno politiko , predvidoma zmerna .
In the near term , given the developments in energy prices , risks to earlier projections for HICP inflation are tilted somewhat towards the upside , while risks to price stability over the medium term are viewed as still remaining broadly balanced .
V bližnji prihodnosti so nedavne projekcije inflacije po HICP zaradi gibanja cen energentov nekoliko izpostavljene navzgor usmerjenim tveganjem , medtem ko so v srednjeročnem obdobju tveganja za cenovno stabilnost po ocenah še vedno večinoma uravnotežena .
Overall , the Governing Council will monitor closely the future evolution of all available price indicators .
Gledano v celoti bo Svet ECB natančno spremljal prihodnje gibanje vseh razpoložljivih cenovnih kazalnikov .
Turning to the monetary analysis , the annual growth rate of M3 remained slightly negative , at - 0.1% , in March 2010 .
Kot kaže denarna analiza , je medletna stopnja rasti denarnega agregata M3 marca 2010 ostala rahlo negativna na ravni - 0,1% .
Together with the continued negative annual growth in loans to the private sector , which stood at - 0.2% in March , the latest data further support the assessment that the underlying pace of monetary expansion is moderate and that the inflationary pressures over the medium term are contained .
Skupaj z nadaljnjo negativno medletno rastjo posojil zasebnemu sektorju , ki je marca 2010 znašala - 0,2% , najnovejši podatki dodatno potrjujejo oceno Sveta ECB , da je osnovna dinamika denarne rasti zmerna in da so inflacijski pritiski v srednjeročnem obdobju omejeni .
Shorter-term developments in M3 and loans have also remained muted .
Kratkoročna gibanja M3 in posojil so prav tako ostala umirjena .
The actual growth in M3 is seen as weaker than the underlying pace of monetary expansion , as the rather steep yield curve continues to foster the allocation of funds into longer-term deposits and securities outside M3 .
Dokaj strma krivulja donosnosti še naprej spodbuja premeščanje sredstev v dolgoročnejše vloge in vrednostne papirje zunaj agregata M3 , kar pomeni , da je dejanska rast M3 šibkejša od osnovne stopnje denarne rasti .
At the same time , the still narrow spreads between the interest rates paid on different M3 instruments imply low opportunity costs of allocating funds to overnight deposits rather than other M3 instruments .
Obenem še vedno ozek razpon med obrestnimi merami za različne instrumente znotraj M3 zmanjšuje oportunitetne stroške prerazporejanja sredstev v vloge čez noč namesto v druge instrumente M3 .
This is reflected in the continued marked difference between weak annual growth in M3 and strong annual growth in M1 , which was 10.9% in March .
To se kaže v vztrajni izraziti razliki med šibko medletno rastjo M3 in visoko medletno rastjo M1 , ki je marca znašala 10,9% .
However , with the current interest rate constellation already in place for some time , the latest data suggest that the large shifts in the allocation of funds are waning .
Ob sedanjih razmerjih med obrestnimi merami , ki trajajo že nekaj časa , pa najnovejši podatki kažejo , da se večji premiki pri razporejanju sredstev zmanjšujejo .