natgillin/translations-raw huggingface dataset:
ECB The implementation of monetary policy in the euro area November 2008 CHAPTER 6 Chart 4 Links between securities settlement systems Use of eligible assets issued in the SSS of country B held by a counterparty established in country A through a link between the SSSs in countries A and B in order to obtain credit from the national central bank of country A.
Neposredna ali relejska povezava med dvema SPVP dovoljuje udeleženki enega SPVP , da ima vrednostne papirje , izdane v drugem SPVP , ne da bi bila udeleženka tega drugega SPVP 54 .
NCB A Information on collateral Credit Transfer instructions Counterparty A SSS A SSS A holds assets on an omnibus account in SSS B SSS B A direct or relayed link between two SSSs allows a participant in one SSS to hold securities issued in another SSS without being a participant in that other SSS .
Preden se lahko te povezave uporabijo za prenos zavarovanja v kreditnih operacijah Eurosistema , morajo biti ocenjene in odobrene v skladu s standardi za uporabo SPVP v EU 55 , 56 .
54 Before these links can be used to transfer collateral for Eurosystem credit operations , they have to be assessed and approved against the standards for the use of EU SSSs .
S stališča Eurosistema imajo CCBM in povezave med SPVP v EU enako vlogo , to je omogočajo nasprotnim strankam , da uporabijo zavarovanje preko meje .
55 , 56 From a Eurosystem perspective , the CCBM and the links between EU SSSs fulfil the same role of allowing counterparties to use collateral on a cross-border basis , i.e. both enable counterparties to use collateral to obtain credit from their home central bank , even if this collateral was issued in an SSS of another country .
Oboje omogoča nasprotnim strankam , da uporabijo finančno premoženje za pridobitev posojila od njihove domače centralne banke , tudi če je bilo finančno premoženje izdano v SPVP druge države .
The CCBM and the links between SSSs perform this function in different ways .
CCBM in povezave med SPVP to funkcijo opravljajo na različna načina .
They act as custodians for one another .
Druga za drugo delujejo kot skrbniki .
Using the links , the cross-border relationship is between the SSSs .
Pri uporabi povezav je čezmejno razmerje razmerje med SPVP .
They open omnibus accounts with one another .
Le-ti drug pri drugem odprejo zbirne račune .
Assets held through a link can be used for Eurosystem credit operations , as well as for any other purpose selected by the counterparty . When using links between SSSs , the counterparties hold the assets
Finančno premoženje , ki je dostopno prek povezave , se lahko uporablja za kreditne operacije Eurosistema kot tudi za kateri koli drug namen , ki ga izbere nasprotna stranka .
on their own account with their home SSS and have no need for a custodian . 6.7 ACCEPTANCE OF NON-EURO DENOMINATED COLLATERAL IN CONTINGENCIES In certain situations the Governing Council may decide to accept as eligible collateral certain marketable debt instruments issued by one or more non-euro area G10 central governments in their domestic currency .
6.7 SPREJETJE FINANČNEGA PREMOŽENJA ZA ZAVAROVANJE TERJATEV V DRUGIH VALUTAH OB NEPREDVIDLJIVIH DOGODKIH V nekaterih okoliščinah se lahko Svet ECB odloči , da bo kot primerno finančno premoženje za zavarovanje terjatev sprejel tudi nekatere tržne dolžniške instrumente , ki jih je v svoji valuti izdala enota centralne ravni države ene izmed držav skupine G-10 zunaj euroobmočja . Ob sprejetju takšne odločitve bodo pojasnjena veljavna merila , nasprotne stranke pa morajo biti obveščene o postopkih , ki se uporabljajo pri izbiri in mobilizaciji tujega finančnega premoženja , vključno z viri in načeli vrednotenja , ukrepi za obvladovanje tveganj in postopki poravnave .
Upon such decision , the applicable criteria shall be clarified and the procedures to be applied for the selection and mobilisation of foreign collateral , including the sources and principles of valuation , the risk 54 A link between two SSSs consists of a set of procedures and arrangements for the cross-border transfer of securities through a book-entry process .
Nasprotna stranka , ki je podružnica kreditne institucije zunaj EGP ali Švice , takšnega finančnega premoženja ne more uporabiti kot zavarovanje . 54 Povezava med dvema SPVP obsega sklop postopkov in dogovorov za čezmejni prenos vrednostnih papirjev s prenosom med računi nematerializiranih vrednostnih papirjev .
A link takes the form of an omnibus account opened by an SSS ( the investor SSS ) in another SSS ( the issuer SSS ) .
Povezava je v obliki zbirnega računa , ki ga odpre en SPVP ( sistem investitor ) v drugem SPVP ( sistem izdajatelj ) .
A direct link implies that no intermediary exists between the two SSSs .
Neposredna povezava pomeni , da med dvema SPVP ni nobenega posrednika .
Relayed links between SSSs may also be used for the cross-border transfer of securities to the Eurosystem .
Poleg tega se lahko za čezmejni prenos vrednostnih papirjev v korist Eurosistema uporabi tudi relejska povezava med SPVP .
A relayed link is a contractual and technical arrangement that allows two SSSs not directly connected to each other to exchange securities transactions or transfers through a third SSS acting as the intermediary .
Relejska povezava je pogodbena in tehnična ureditev , ki omogoča dvema SPVP brez neposredne medsebojne povezave , da izmenjata transakcije ali prenose vrednostnih papirjev prek tretjega SPVP , ki deluje kot posrednik .
55 The updated list of eligible links can be found on the ECB 's website ( www.ecb.europa.eu ) .
55 Dopolnjen seznam primernih povezav se nahaja na spletni strani ECB ( www.ecb.europa.eu ) .
56 See the publication entitled « Standards for the use of EU securities settlement systems in ESCB credit operations » , European Monetary Institute , January 1998 , on the ECB 's website ( www.ecb.europa.eu ) .
56 Glej publikacijo z naslovom „Standards for the use of EU securities settlement systems in ESCB credit operations » , Evropski monetarni inštitut , januar 1998 , na spletni strani ECB ( www.ecb.europa.eu ) .
ECB The implementation of monetary policy in the euro area November 2008 57
ECB Izvajanje denarne politike v euroobmočju November 2008
control measures and the settlement procedures , must also be communicated to counterparties . Notwithstanding the provisions of Section 6.2.1 , such assets may be deposited / registered ( issued ) , held and settled outside the EEA and may , as stated above , be denominated in currencies other than the euro .
POGLAVJE 7 OBVEZNE REZERVE 1 7.1 SPLOŠEN OPIS ECB od kreditnih institucij zahteva , da vzdržujejo obvezne rezerve na računih pri nacionalnih centralnih bankah v sklopu sistema obveznih rezerv Eurosistema . Pravni okvir za ta sistem je opredeljen v členu 19 Statuta ESCB , Uredbi Sveta ( ES ) št .
Any such assets used by a counterparty must be owned by the counterparty .
2531/98 z dne 23 .
CHAPTER 7 MINIMUM RESERVES 1 7.1 GENERAL CONSIDERATIONS The ECB requires credit institutions to hold minimum reserves on accounts with the national central banks within the framework of the Eurosystem 's minimum reserve system . The legal framework for this system is laid down in Article 19 of the Statute of the ESCB , Council Regulation ( EC ) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank 2 and Regulation ( EC ) No 1745/2003 of the European Central Bank on the application of minimum reserves ( ECB / 2003/9 ) .
novembra 1998 o uporabi obveznih rezerv s strani Evropske centralne banke 2 in Uredbi ( ES ) št . 1745/2003 Evropske centralne banke o uporabi obveznih rezerv ( ECB / 2003/9 ) .
3 The application of Regulation ECB / 2003/9 ensures that the terms and conditions of the Eurosystem 's minimum reserve system are uniform throughout the euro area .
3 Uporaba Uredbe ECB / 2003/9 zagotavlja , da so pogoji sistema obveznih rezerv Eurosistema enotni v celotnem euroobmočju .
The Eurosystem 's minimum reserve system enables counterparties to make use of averaging provisions , implying that compliance with reserve requirements is determined on the basis of the average of the endof-calendar-day balances on the counterparties » reserve accounts over a maintenance period .
Sistem obveznih rezerv Eurosistema omogoča nasprotnim strankam uporabo določbe o povprečenju , kar pomeni , da se obvezne rezerve izpolnjujejo na podlagi povprečnih stanj ob koncu koledarskega dneva na računih rezerv nasprotnih strank v obdobju izpolnjevanja obveznih rezerv .
Institutions » holdings of required reserves are remunerated at the rate on the Eurosystem 's main refinancing operations .
Rezervna imetja do zneska izračunanih obveznih rezerv se obrestujejo po obrestni meri za operacije glavnega refinanciranja Eurosistema .
The Eurosystem 's minimum reserve system primarily pursues the following monetary functions : -* Stabilisation of money market interest rates : The averaging provision of the Eurosystem 's minimum reserve system aims to contribute to the stabilisation of money market interest rates by giving institutions an incentive to smooth the effects of temporary liquidity fluctuations .
Sistem obveznih rezerv Eurosistema je poglavitno namenjen izvajanju naslednjih denarnih funkcij : -* stabilizacija obrestnih mer denarnega trga : določba o povprečenju ima za cilj prispevati k stabilizaciji obrestnih mer denarnega trga s tem , da obveznike spodbuja k izravnavi učinkov začasnih nihanj likvidnosti ;
In the application of minimum reserves , the ECB is bound to act in pursuance of the objectives of the Eurosystem as defined in Article 105 ( 1 ) of the Treaty and Article 2 of the Statute of the ESCB , which implies , inter alia , the principle of not inducing significant undesirable delocation or disintermediation .
opredeljeni v členu 105 ( 1 ) Pogodbe in členu 2 Statuta ESCB , kar med drugim pomeni , da ne spodbuja znatne nezaželene delokacije ali disintermediacije . POGLAVJE 7 Obvezne rezerve
CHAPTER 7 Minimum reserves 7.2 INSTITUTIONS SUBJECT TO MINIMUM RESERVE REQUIREMENTS Pursuant to Article 19.1 of the Statute of the ESCB , the ECB requires credit institutions established in Member States to hold minimum reserves .
7.2 INSTITUCIJE , KI SO OBVEZNIKI OBVEZNIH REZERV Na podlagi člena 19.1 Statuta ESCB ECB od kreditnih institucij , ustanovljenih v državah članicah , zahteva , da imajo obvezne rezerve .
This implies that branches in the euro area of entities with no registered office in the euro area are also subject to the Eurosystem 's minimum reserve system .
To pomeni , da so v euroobmočju ustanovljene podružnice subjektov , ki nimajo registriranega sedeža v euroobmočju , tudi obvezniki obveznih rezerv Eurosistema .
However , branches located outside the euro area of credit institutions established in the euro area are not subject to this system .
Za podružnice kreditnih institucij , ustanovljenih v euroobmočju , ki so locirane zunaj euroobmočja , ta sistem ne velja .
According to Council Regulation ( EC ) No 2531/98 and Regulation ECB / 2003/9 , the ECB may also exempt institutions from their obligations under the Eurosystem 's minimum reserve system on a non-discriminatory basis if they are subject to reorganisation measures or the freezing of funds and / or other measures imposed by the European Community or by a Member State under Article 60 ( 2 ) of the Treaty restricting the use of their funds or in respect of which the ECB 's Governing Council issued a decision 1 2 3 The content of this chapter is provided for information purposes only .
2531/98 in Uredbo ECB / 2003/9 lahko ECB iz sistema obveznih rezerv Eurosistema izvzame tudi druge institucije na nediskriminatorni osnovi , če zanje veljajo ukrepi reorganizacije , zamrznitev sredstev oziroma drugi ukrepi , ki jih je naložila Evropska skupnost ali država članica v skladu s členom 60 ( 2 ) Pogodbe o omejitvi uporabe njihovih sredstev , ali je v zvezi z njimi Svet ECB izdal sklep o začasni prepovedi ali izključitvi njihovega dostopa do operacij odprtega trga ali odprtih ponudb Eurosistema , ali če cilji sistema obveznih rezerv ne bi bili doseženi z vključitvijo teh institucij v sistem obveznih rezerv . Če sklep o tovrstnih izjemah temelji na namenu sistema obveznih rezerv v Eurosistemu , ECB upošteva eno ali več naslednjih meril : 1 2 3 Vsebina tega poglavja je le informativna .
OJ L 318 , 27.11.1998 , p. 1 .
UL L 318 z dne 27 . novembra 1998 , stran 1 .
OJ L 250 , 2.10.2003 , p. 10 .
UL L 250 z dne 2 . oktobra 2003 , stran 10 .
If its decision on any such exemption is based on the purposes of the Eurosystem 's minimum reserve system , the ECB takes into account one or more of the following criteria : -* the institution is authorised to pursue special purpose functions only ;
-* institucija ima dovoljenje , da opravlja samo funkcije posebnega namena ;
the institution is prohibited from exercising active banking functions in competition with other credit institutions ;
institucija ima prepoved izvajanja aktivnih bančnih funkcij v konkurenci z drugimi kreditnimi institucijami ;
and / or the institution is under a legal obligation to have all its deposits earmarked for purposes related to regional and / or international development assistance .
in / ali institucija je zakonsko obvezana , da uporablja vse svoje depozite za namene , povezane z regionalno in / ali mednarodno razvojno pomočjo .
7.3 DETERMINATION OF MINIMUM RESERVES RESERVE BASE AND RESERVE RATIOS The reserve base of an institution is defined in relation to elements of its balance sheet . The balance sheet data are reported to the national central banks within the general framework of the ECB 's money and banking statistics ( see Section 7.5 ) .
-* poročanja , se podatki bilance stanja , ki se nanašajo na konec danega koledarskega meseca , uporabijo za določitev osnove za rezerve za obdobje izpolnjevanja obveznih rezerv , ki se začne v koledarskem mesecu dva meseca pozneje .
5 For institutions subject to full reporting requirements , the balance sheet data referring to the end of a given calendar month are used to determine the reserve base for the maintenance period starting in the calendar month two months later . For example , the reserve base calculated from the balance sheet of the end of February would be used to calculate the reserve requirements to be fulfilled by counterparties in the maintenance period beginning in April .
Na primer osnova za rezerve , izračunana iz bilance stanja ob koncu februarja , bi se uporabila za izračun obveznih rezerv , ki jih morajo nasprotne stranke izpolniti v obdobju izpolnjevanja obveznih rezerv , ki se začne v aprilu . Okvir poročanja za denarno in bančno statistiko ECB predvideva možnost , da se majhne institucije delno razbremenijo bremena poročanja .
The reporting framework for the ECB 's money and banking statistics includes the possibility of relieving small institutions of some of the reporting burden . Institutions to which this provision applies only need to report a limited set of balance sheet data on a quarterly basis ( as end-of-quarter data ) and with a reporting deadline which is longer than that set for larger institutions .
Institucije , za katere velja ta določba , morajo četrtletno poročati samo omejen nabor podatkov iz bilance stanja ( po stanju na zadnji dan četrtletja ) in s skrajnim rokom za pošiljanje poročil , ki je daljši od skrajnega roka , postavljenega za večje institucije .
For these institutions , the balance sheet data reported for a specific quarter are used to determine , with a lag of two months , the reserve base for the consecutive three reserve maintenance periods .
Za te institucije se podatki bilance stanja , ki se predložijo v poročilih za določeno četrtletje , uporabijo z zamikom dveh mesecev za določitev osnove za rezerve za naslednja tri obdobja izpolnjevanja obveznih rezerv .
According to Council Regulation ( EC ) No 2531/98 , the ECB is entitled to include liabilities resulting from the acceptance of funds together with liabilities resulting from off-balance-sheet items in the reserve base of institutions .
V skladu z Uredbo Sveta ( ES ) št . 2531/98 ima ECB pravico , da v osnovo za rezerve institucij vključi obveznosti iz naslova sprejemanja denarnih sredstev skupaj z obveznostmi iz naslova zunajbilančnih postavk .
4 5 The lists are available to the public on the ECB 's website ( www.ecb.europa.eu ) . The reporting framework for the ECB 's money and banking statistics is presented in Appendix 4 .
Obveznosti do drugih institucij , uvrščenih na seznam institucij , ki so obvezniki obveznih rezerv Eurosistema , in obveznosti do ECB in sodelujočih nacionalnih centralnih bank , niso vključene v osnovo za rezerve .
The ECB also makes public a list of any institutions exempt from their obligations under this system for reasons other than their being subject to reorganisation measures or the freezing of funds and / or other measures imposed by the European Community or by a Member State under Article 60 ( 2 ) of the Treaty restricting the use of their funds or in respect of which the ECB 's Governing Council issued a decision suspending or excluding their access to open market operations or the Eurosystem 's standing facilities .
ECB javno objavlja tudi seznam vseh institucij , ki so izvzete iz tega sistema zaradi drugih razlogov in ne zaradi ukrepov reorganizacije ali zamrznitve sredstev oziroma drugih ukrepov , ki jih je naložila Evropska skupnost ali država članica v skladu s členom 60 ( 2 ) Pogodbe o omejitvi uporabe njihovih sredstev , ali je v zvezi z njimi Svet ECB izdal sklep o začasni prepovedi ali izključitvi njihovega dostopa do operacij odprtega trga ali odprtih ponudb Eurosistema .
4 Counterparties may rely on these lists in deciding whether their liabilities are owed to another institution that is itself subject to reserve requirements .
4 Nasprotne stranke se lahko zanesejo na te sezname pri odločanju , ali njihove obveznosti predstavljajo terjatve druge institucije , ki je ravno tako obveznik obveznih rezerv .
For example , the list published at the end of February would be valid for the calculation of the reserve base for the maintenance period beginning in April .
Seznam , objavljen ob koncu februarja , bi tako veljal za izračun osnove za rezerve za obdobje izpolnjevanja obveznih rezerv , ki se začne v aprilu . 7.3 DOLOČITEV OBVEZNIH REZERV OSNOVA ZA REZERVE IN STOPNJE OBVEZNIH REZERV Osnova za rezerve posamezne institucije se določi glede na postavke njene bilance stanja .
CHAPTER 7 Box 9 Minimum reserves
POGLAVJE 7 Okvir 9 Obvezne rezerve
RESERVE BASE AND RESERVE RATIOS A. Liabilities included in the reserve base and to which the positive reserve ratio is applied Deposits 1 -* Overnight deposits -* Deposits with an agreed maturity of up to and including two years -* Deposits redeemable at notice of up to and including two years Debt securities issued -* Debt securities with an original maturity of up to and including two years B. Liabilities included in the reserve base and to which a zero reserve ratio is applied Deposits 1 -* Deposits with an agreed maturity of over two years -* Deposits redeemable at notice of over two years -* Repos Debt securities issued -* Debt securities with an original maturity of over two years C. Liabilities excluded from the reserve base -* Liabilities vis-à-vis other institutions subject to the Eurosystem 's minimum reserve system -* Liabilities vis-à-vis the ECB and the participating national central banks 1 Regulation ( EC ) No 2181/2004 of the European Central Bank of 16 December 2004 , amending Regulation ( EC ) No 2423/2001 ( ECB / 2001/13 ) concerning the consolidated balance sheet of the monetary financial institutions sector and Regulation ( EC ) No 63/2002 ( ECB / 2001/18 ) concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-àvis households and non financial corporations ( ECB / 2004/21 ) ( OJ L 371 , 18.12.2004 , p. 42 ) , explicitly requires the reporting of deposit liabilities at nominal value .
OSNOVA ZA REZERVE IN STOPNJE OBVEZNIH REZERV A. Obveznosti , ki so vključene v osnovo za rezerve in za katere se uporablja pozitivna stopnja rezerv Vloge 1 -* Vloge čez noč -* Vloge z dogovorjeno zapadlostjo do vključno dveh let -* Vloge na odpoklic z odpovednim rokom do vključno dveh let Izdani dolžniški vrednostni papirji -* Dolžniški vrednostni papirji z originalno zapadlostjo do vključno dveh let B. Obveznosti , ki so vključene v osnovo za rezerve in za katere se uporablja stopnja rezerv , enaka nič Vloge 1 -* Vloge z dogovorjeno zapadlostjo nad dvemi leti -* Vloge na odpoklic z odpovednim rokom nad dvemi leti -* Repo posli Izdani dolžniški vrednostni papirji -* Dolžniški vrednostni papirji z originalno zapadlostjo nad dvemi leti C. Obveznosti , ki so izključene iz osnove za rezerve -* Obveznosti do drugih institucij , ki so obvezniki v sistemu obveznih rezerv Eurosistema -* Obveznosti do ECB in sodelujočih nacionalnih centralnih bank 1 Uredba ( ES ) št . 2181/2004 Evropske centralne banke z dne 16 .
Nominal value means the amount of principal that a debtor is contractually obliged to repay to a creditor .
2423/2001 ( ECB / 2001/13 ) o konsolidirani bilanci stanja v sektorju monetarnih finančnih institucij in Uredbe ( ES ) št .
This amendment had become necessary because Council Directive 86/635 / EEC of 8 December 1986 on the annual accounts and the consolidated accounts of banks and other financial institutions ( OJ L 372 , 31.12.1986 , p. 1 ) had been amended to the effect that certain financial instruments could be priced at fair value .
63/2002 ( ECB / 2001/18 ) o statistiki obrestnih mer , ki jih monetarne finančne institucije uporabljajo za vloge in posojila v razmerju do gospodinjstev in nefinančnih družb ( ECB / 2004/21 ) ( UL L 371 z dne 18 .
Liabilities vis-à-vis other institutions included in the list of institutions subject to the Eurosystem 's minimum reserve system and liabilities vis-à-vis the ECB and the participating national central banks are not included in the reserve base .
decembra 1986 o letnih računovodskih izkazih in konsolidiranih računovodskih izkazih bank in drugih finančnih institucij ( UL L 372 z dne 31 . decembra 1986 , stran 1 ) , ki je bila spremenjena tako , da omogoča vrednotenje nekaterih finančnih instrumentov po pošteni vrednosti .
In this respect , for the liability category « debt securities issued » , the issuer needs to be able to prove the actual amount of these instruments held by other institutions subject to the Eurosystem 's minimum reserve system in order to be entitled to deduct them from the reserve base .
mora biti za pasivno postavko „izdani dolžniški vrednostni papirji » izdajatelj sposoben dokazati dejanski znesek teh instrumentov , ki jih imajo druge institucije , ki so obvezniki obveznih rezerv Eurosistema , zato da jih ima pravico odšteti od osnove za rezerve .
If such proof cannot be presented , issuers may apply a standardised deduction of a fixed percentage 6 to this balance sheet item .
Če takega dokazila ni mogoče predložiti , lahko izdajatelji uporabijo standardizirani odbitek v fiksnem odstotku 6 za to postavko bilance stanja .
The ECB applies a uniform non-zero reserve ratio to most of the items included in the reserve base .
ECB uporablja enotno neničelno stopnjo za večino postavk , ki so zajete v osnovi za rezerve .
This reserve ratio is specified in the Regulation ECB / 2003/9 .
Ta stopnja rezerv je določena v Uredbi ECB / 2003/9 .
The ECB sets a zero reserve ratio on the following liability categories : « deposits with an agreed maturity of over two years » , « deposits redeemable at notice of over two years » , « repos » and « debt securities with an original maturity of over two years » ( see Box 9 ) .
ECB je določila ničelno stopnjo obveznih rezerv na naslednje pasivne postavke : „vloge z dogovorjeno zapadlostjo nad dvemi leti » , „vloge na odpoklic z odpovednim rokom nad dve leti » , „repo posli » in „dolžniški vrednostni papirji z originalno zapadlostjo nad dvemi leti » ( glej okvir 9 ) .
The ECB may change the reserve ratio at any time .
ECB lahko kadar koli spremeni stopnje obveznih rezerv .
Changes in reserve ratios are announced
Spremembe v stopnjah obveznih rezerv objavi ECB pred prvim obdobjem izpolnjevanja obveznih rezerv , za katerega sprememba velja .