natgillin/translations-raw huggingface dataset:
and ( b ) protection against any potential misuse of the information received by the non-appointed CRA .
in ( b ) varstvo pred morebitnimi zlorabami informacij , ki jih prejmejo neimenovane bonitetne agencije .
The ECB understands that the transparency arrangements set out in the proposed new Articles 8a and 8b have received broad support in the context of the preparatory work on the proposed regulation ( 4 ) .
ECB razume , da je bila ureditev preglednosti , določena v predlaganih novih členih 8a in 8b , med pripravljalnimi aktivnostmi v zvezi s predlagano uredbo deležna široke podpore ( 4 ) .
Hence , the ECB proposes only limited amendments ( 5 ) .
Zato ECB predlaga samo nekaj sprememb ( 5 ) .
At the same time , it recommends that devel ­ opments in the abovementioned areas should be closely monitored by ESMA in connection with the implementation of the proposed regulation , so that appropriate adjustments may be put forward by the Commission in view of the experience gained ( 6 ) .
Hkrati priporoča , da organ ESMA skrbno spremlja dogajanje na zgoraj omenjenih področjih v povezavi z izvajanjem predlagane uredbe , tako da bo lahko Komisija ob upošte ­ vanju pridobljenih izkušenj predlagala ustrezne prilagoditve ( 6 ) .
Moreover , the ECB expects that work on the further-reaching transparency arrangements related to issuance of credit ratings will be undertaken by the Commission on the basis of the experience acquired with the rules introduced by the proposed regulation .
Poleg tega ECB pričakuje , da bo Komisija na podlagi pridobljenih izkušenj s pravili , ki jih uvaja pred ­ lagana uredba , izvedla aktivnosti za temeljitejšo ureditev preglednosti v zvezi z izdajanjem bonitetnih ocen .
To achieve the desired effect , the trans ­ parency arrangements should balance , on the one hand , the business interests of the issuers providing sensitive information to the CRAs and , on the other , the needs of central banks , supervisors and other stakeholders for wider access to information allowing independent assessment of the CRAs » performance . ( 1 ) OJ L 177 , 30.6.2006 , p. 1 .
Da bi ureditev preglednosti dosegla želeni učinek , bi morala uravnotežiti na eni strani poslovne interese izdajateljev , ki zagotavljajo bonitetnim agencijam občutljive informacije , in na drugi strani potrebe centralnih bank , nadzornih organov in drugih zainteresiranih po večjem dostopu do informacij , ( 1 ) UL L 177 , 30.6.2006 , str . 1 .
( 2 ) See Article 1 ( 4 ) of the proposed regulation .
( 2 ) Glej člen 1 ( 4 ) predlagane uredbe .
( 3 ) See the amendment to Rule 17g-5 of Part 240 of the Securities Exchange Act 1934 , SEC Release No 34-61050 ( 23 November 2009 ) , Federal Register Vol. 74 , No 232 , p. 63832 ( 4 December 2009 ) ( hereinafter the « amended SEC rule 240.17 g-5 ') ;
( 3 ) Glej spremembo pravila 17g-5 v delu 240 Zakona o trgu vrednostnih papirjev iz leta 1934 ( Securities Exchange Act 1934 ) , izdaja SEC št . 34-61050 ( 23 .
available on the SEC website at http://www.sec.gov The amended SEC rule 240.17 g-5 applies to US issuers as of 2 June 2010 and will apply to non-US issuers appointing a US-based CRA as of 2 December 2010 ;
dostopno na spletni strani komisije SEC na naslovu http://www.sec.gov Spremenjeno pravilo SEC 240.17 g-5 velja za izdajatelje iz ZDA od 2 . junija 2010 in bo veljalo za izdajatelje zunaj ZDA , ki imenujejo bonitetno agencijo iz ZDA , od 2 .
see also the SEC 's « Order of 19 May 2010 granting temporary conditional exemption for nationally recognised statistical rating organisations from the requirements of rule 17g-5 under the Securities Exchange Act of 1934 and request for comment » ( Release No 34-62120 ) , available on the SEC website ) .
glej tudi akt komisije SEC z naslovom „Order of 19 May 2010 granting temporary conditional exemption for nationally reco ­ gnized statistical rating organizations from the requirements of rule 17g-5 under the Securities Exchange Act of 1934 and request for comment » ( Sklep z dne 19 . maja 2010 o dovolitvi začasnega pogojnega izvzetja na nacionalni ravni identificiranih organizacij za statistično ocenjevanje iz zahtev pravila 17g-5 Zakona o trgu vrednostnih papirjev iz leta 1934 in zahteva za pripombe ) ( izdaja št .
( 4 ) Compare the current wording of the proposed regulation with that of the Presidency compromise proposal of 7 October 2010 , 2010/0160 ( COD ) , p. 17 .
( 4 ) Primerjaj trenutno besedilo predlagane uredbe z besedilom kompromisnega predloga Predsedstva z dne 7 . oktobra 2010 , 2010/0160 ( COD ) , str .
( 5 ) See further comments in paragraph 5 .
17 . ( 5 ) Glej dodatne pripombe v odstavku 5 .
( 6 ) See further comments in paragraph 6 .
( 6 ) Glej dodatne pripombe v odstavku 6 .
Official Journal of the European Union C 337/3
C 337/3 ki omogočajo neodvisno ocenjevanje dela bonitetnih agencij .
All of the above elements are particularly relevant in the securitisation market .
Vsi navedeni elementi so še posebej pomembni za trg listinjenja .
In this respect , the Eurosystem aims to access , as part of its framework for the evaluation of collateral , the loan-by-loan information allowing the ongoing assessment of risks for securitised instruments .
V tem oziru si Eurosistem v okviru svoje ureditve vrednotenja finančnega premoženja za zavarovanje prizadeva za dostop do informacij o posameznih posojilih , ki omogočajo stalno ocenjevanje tveganj pri listinjenih instrumentih .
Specific observations Increased transparency of the rating process 5 .
Posamezne pripombe Večja preglednost postopka ocenjevanja 5 .
The proposed regulation requires that each appointed CRA delivers to its competitors a list of the structured finance instruments currently being rated by it , together with a link to the website where the issuer stores the information used in the preparation of credit ratings .
Predlagana uredba zahteva , da mora vsaka imenovana bonitetna agencija svojim konkurentom predati seznam strukturiranih finančnih instrumentov , ki jih trenutno ocenjuje , in povezavo do spletne strani , kjer izdajatelj hrani informacije , ki se uporabljajo pri pripravi bonitetnih ocen .
Non-appointed CRAs may obtain access to this information , provided that : ( a ) at the time of request , they have the systems and organisational structure in place to protect the confidentiality of such information ;
Neimenovane bonitetne agencije lahko pridobijo dostop do teh informacij pod pogojem , da : ( a ) imajo v času zahteve vzposta ­ vljene sisteme in organizacijsko strukturo , da lahko zavarujejo zaupnost teh informacij ;
and ( b ) after they have accessed the information , they issue ratings on a yearly basis for at least 10 % of the structured finance instruments for which the information has been requested ( 1 ) .
in ( b ) po dostopu do informacij letno izdajo ocene za vsaj 10 % strukturiranih finančnih instrumentov , o katerih so zahtevale informacije ( 1 ) .
The ECB recommends that the proposed regulation defines more clearly , first , the method of verification by ESMA of compliance with these criteria , second , the calculation method applied for verifying compliance with the second criterion ( 2 ) and , third , the situations in which non-compliance with the second criterion could lead to the imposition of sanctions ( 3 ) .
ECB priporoča , da predlagana uredba jasneje opredeli , prvič , metodo , po kateri ESMA preverja skladnost s temi merili , drugič , metodo izračuna , ki se uporablja za preverjanje skladnosti z drugim merilom ( 2 ) , in tretjič , primere , ko se zaradi neskladnosti z drugim merilom lahko uvedejo sankcije ( 3 ) .
Moreover , the ECB makes the following recommendations with a view to addressing the issues specified in paragraph 3 .
Poleg tega daje ECB za reševanje vprašanj iz odstavka 3 naslednji priporočili .
First , CRAs should be required to report every six months to ESMA data on the number of credit ratings which they have issued in a given period , breaking this down to show : ( a ) credit ratings requested by a rated entity or a related third party ;
Prvič , od bonitetnih agencij bi bilo treba zahtevati , da vsakih šest mesecev sporočajo organu ESMA podatke o številu bonitetnih ocen , ki so jih izdale v posameznem obdobju , razčlenjene na : ( a ) bonitetne ocene , ki jih je zahteval ocenjevani subjekt ali povezana tretja oseba ;
and ( b ) unsolicited credit ratings , together with data indicating the proportion of such unsolicited credit ratings which were higher , equal to , or lower than the relevant credit ratings issued by the relevant appointed CRA .
in ( b ) nenaročene bonitetne ocene , skupaj s podatki o deležu takšnih nenaročenih bonitetnih ocen , ki so bile višje od ustreznih bonitetnih ocen , ki jih je izdala zadevna imenovana bonitetna agencija , enake tem ocenam ali nižje od njih .
Such reporting should be included in periodic disclosures made by CRAs to ESMA ( 4 ) .
To poročanje bi bilo treba vključiti v periodična razkritja bonitetnih agencij organu ESMA ( 4 ) .
Second , ESMA should be mandated to monitor the implementation of the proposed new Articles 8a and 8b with a view to identifying : ( a ) the impact of these provisions on the amount and quality of issued credit ratings , including unsolicited credit ratings ;
Drugič , organ ESMA bi moral biti pooblaščen za spremljanje izvajanja predlaganih novih členov 8a in 8b , da se ugotovi : ( a ) vpliv teh določb na število in kakovost izdanih bonitetnih ocen , vključno z nenaročenimi ocenami ;
( b ) any possible need to amend the eligibility criteria for non-appointed CRAs , with a view to avoiding excessive barriers to market entry ;
( b ) vsaka morebitna potreba po spremembi meril primernosti neimenovanih bonitetnih agencij z namenom izognitve čezmernim oviram za vstop na trg ;
( c ) the burden imposed on issuers ;
( c ) obremenitev , ki se nalaga izdajateljem ;
and ( d ) any possible need to protect issuers against misuse of the information provided by them to non-appointed CRAs .
in ( d ) vsaka morebitna potreba po zaščiti izdajateljev pred zlorabami informacij , ki jih ti zagotavljajo neimenovanim bonitetnim agencijam .
A report by ESMA should be the basis for the Commission 's review of the proposed Articles 8a and 8b in the specified period after their entry into force .
Poročilo organa ESMA bi moralo služiti Komisiji kot osnova za pregled predlaganih členov 8a in 8b v določenem obdobju po njuni uveljavitvi .
Provision of information to ESMA and the Eurosystem 7 .
Zagotavljanje informacij organu ESMA in Eurosistemu 7 .
The ECB notes that CRAs will be required to provide their historical performance data to a central repository established by ESMA ( 5 ) .
ECB razume , da bodo morale bonitetne agencije zagotavljati podatke o svojih preteklih rezultatih centralnemu registru , ki ga vzpostavi ESMA ( 5 ) .
The ECB recommends that these data should be in a comparable format , and consistent with the Union statistical framework .
ECB priporoča , da so ti podatki v obliki , ki omogoča primerjave in je skladna s statističnim okvirom Unije .
Common identifiers and standards should be used as much as possible in the structuring and storage of the data ( e.g. , through the use of standardised reference information such as ISIN codes ) .
Pri strukturiranju in shranjevanju podatkov bi bilo treba v največji možni meri uporabljati skupne identifikacijske oznake in standarde ( npr . z uporabo standardiziranih referenčnih informacij , kot so kode ISIN ) .
Moreover , as was highlighted in the 2008 Eurosystem 's contribution , the new framework for regulating CRAs should allow for an appropriate level of cooperation between supervisory authorities and the ( 1 ) See the proposed new Article 8a ( 2 ) of Regulation ( EC ) No 1060/2009 .
Novi okvir za ureditev bonitetnih agencij bi moral omogočati tudi ustrezno raven sodelovanja med nadzornimi organi in Eurosistemom , kakor je bilo izpostavljeno v prispevku Eurosistema iz leta 2008 . Eurosistem ima močan interes na področju bonitetnih ocen , ki je povezan z njegovo vlogo v zvezi s ( 1 ) Glej predlagani novi člen 8a ( 2 ) Uredbe ( ES ) št .
( 2 ) Compare the current drafting with Section ( a )( 3 )( iii )( B )( 1 ) of the amended SEC rule 240.17 g-5 .
( 2 ) Primerjaj trenutno besedilo z oddelkom ( a )( 3 )( iii )( B )( 1 ) spremenjenega pravila SEC 240.17 g-5 .
( 3 ) See the proposed new Articles 24 ( 1 ) and 36a ( 1 ) of Regulation ( EC ) No 1060/2009 , together with the proposed Section I ( w ) of Annex III to Regulation ( EC ) No 1060/2009 .
( 3 ) Glej predlagana nova člena 24 ( 1 ) in 36a ( 1 ) Uredbe ( ES ) št . 1060/2009 skupaj s predlaganim oddelkom I ( w ) Priloge III k Uredbi ( ES ) št .
( 4 ) See the proposed new Article 11 ( 3 ) of Regulation ( EC ) No 1060/2009 , together with Part II , Section E of Annex I to Regulation ( EC ) No 1060/2009 .
( 4 ) Glej predlagani novi člen 11 ( 3 ) Uredbe ( ES ) št . 1060/2009 skupaj z oddelkom E dela II Priloge I k Uredbi ( ES ) št .
( 5 ) See the proposed new Article 11 ( 2 ) of Regulation ( EC ) No 1060/2009 .
1060/2009 . ( 5 ) Glej predlagani novi člen 11 ( 2 ) Uredbe ( ES ) št .
The Eurosystem has a keen interest in the area of credit ratings , related to its financial stability role .
finančno stabilnostjo .
Furthermore , a Eurosystem-wide framework for monitoring CRAs in the context of monetary policy operations is already in place ( 1 ) .
Poleg tega na ravni celotnega Eurosistema že obstaja okvir za spremljanje bonite ­ tnih agencij v povezavi z operacijami denarne politike ( 1 ) .
Hence , the ECB appreciates the arrangements for the exchange of information set out in the proposed new Article 27 of Regulation ( EC ) No 1060/2009 .
Zato ECB ceni ureditev izmenjave informacij , določeno v predlaganem novem členu 27 Uredbe ( ES ) št . 1060/2009 .
Nevertheless , the ECB recommends that this provision should expressly ensure the access by the ESCB and the ECB , as well as the specified Member State authorities , to the information relevant for the exercise of their statutory tasks .
Vendar pa ECB priporoča , da ta določba izrecno zagotovi dostop ESCB in ECB ter določenih organov držav članic do informacij , ki so pomembne za izvrševanje njihovih zakonskih nalog .
Drafting proposals Where the ECB recommends that the proposed regulation is amended , a specific drafting proposal is set out in the Annex accompanied by explanatory text to this effect .
Predlagane spremembe besedila Kadar ECB priporoča spremembe predlagane uredbe , so konkretni predlogi za spremembe besedila s pripadajočimi pojasnili navedeni v Prilogi .
Done at Frankfurt am Main , 19 November 2010 .
V Frankfurtu na Majni , 19 . novembra 2010
The President of the ECB Jean-Claude TRICHET
Predsednik ECB Jean-Claude TRICHET ( 1 ) Glej prispevek Eurosistema iz leta 2008 , str .
( 1 ) See the 2008 Eurosystem 's contribution , p. 5 and Section 6.3 (' Eurosystem credit assessment framework ') of Annex I to Guideline ECB / 2000/7 of 31 August 2000 on monetary policy instruments and procedures of the Eurosystem , OJ L 310 , 11.12.2000 , p. 1 .
5 , in oddelek 6.3 ( „Bonitetni okvir Eurosistema ") Priloge I k Smernici z dne 31 . avgusta 2000 o instrumentih monetarne politike in postopkih Eurosistema , UL L 310 , 11.12.2000 , str .
Amendment 1 Third citation ( new )
Sprememba 1 Tretje sklicevanje ( novo )
No text .
Ni besedila .
« Having regard to the opinion of the European Central Bank ,'
„ob upoštevanju mnenja Evropske centralne banke ,"
Justification Since the ECB is required to be consulted on the proposed regulation under Articles 127 ( 4 ) and 282 ( 5 ) of the Treaty , a citation to this effect should be inserted in the proposed regulation in line with the second paragraph of Article 296 of the Treaty , according to which legal acts shall refer , inter alia , to opinions required by the Treaties .
Pojasnilo Ker je v skladu s členoma 127 ( 4 ) in 282 ( 5 ) Pogodbe o predlagani uredbi potrebno posvetovanje z ECB , bi bilo treba v predlagano uredbo vstaviti ustrezno sklicevanje v skladu z drugim odstavkom člena 296 Pogodbe , ki določa , da se v pravnih aktih med drugim navedejo mnenja , predvidena v Pogodbah .
Amendment 2 Recital 5 , recitals 11a and 16a ( new )
Sprememba 2 Uvodna izjava 5 ter uvodni izjavi 11a in 16a ( novo )
« ( 5 ) In order to reinforce competition between credit rating agencies , to help avoiding possible conflicts of interest under the issuer-pays model , which are particularly virulent regarding the rating of structured finance instruments , and to enhance transparency and the quality of ratings for structured finance instruments , registered or certified credit rating agencies should have the right to access a list of structured finance instruments that are being rated by their competitors .
„ ( 5 ) Da se poveča konkurenca med bonitetnimi agencijami in da bi se izognili morebitnim navzkrižjem interesov po modelu izdajatelj plača , ki so posebej nevarni v zvezi z ocenjevanjem strukturiranih finančnih instru ­ mentov , in za povečanje preglednosti in kakovosti ocen za strukturirane finančne instrumente morajo imeti registrirane ali certificirane bonitetne agencije pravico do dostopa do seznama strukturiranih finančnih instrumentov , ki jih ocenjuje njihova konku ­ renca .
The information for this rating should be provided by the issuer or a related third party for the purpose of the issuance of unsolicited competing ratings on structured finance instruments .
Informacije za to oceno mora priskrbeti izdaja ­ telj ali povezana tretja oseba za namene izdajanja nenaročenih konkurenčnih ocen strukturiranih finančnih instrumentov .
The issuance of such unsolicited ratings should promote the use of more than one rating per structured finance instrument .
Izdajanje takšnih nenaročenih ocen naj bi vzpodbujalo uporabo več kot ene ocene na strukturirani finančni instrument .
Access to the websites should only be granted if a credit rating agency is able to ensure the confidentiality of the requested information .'
Dostop do sple ­ tnih strani se lahko odobri samo , če lahko bonitetna agencija zagotovi zaupnost zahtevanih informacij ."
« ( 5 ) In order to reinforce competition between credit rating agencies , to help avoiding possible Rating of structured finance instruments may be particularly affected by conflicts of interest under related to the issuer-pays model , which are particularly virulent regarding the rating of structured finance instruments ,.
„ ( 5 ) Da se poveča konkurenca med bonitetnimi agenci ­ jami in da bi se izognili morebitnim Na ocenje ­ vanje strukturiranih finančnih instrumentov lahko posebej vplivajo navzkrižjema interesov po v povezavi z modeluom izdajatelj plača , ki so posebej nevarni v zvezi z ocenjevanjem strukturi ­ ranih finančnih instrumentov ,.
In order to address this issue , competition between credit rating agencies should be reinforced through creation of incentives to use multiple credit ratings and hence to enhance transparency and the quality of the ratings process .
Da bi se to vpra ­ šanje rešilo , bi bilo treba povečati konkurenco med bonitetnimi agencijami z oblikovanjem spodbud za uporabo več bonitetnih ocen in za posledično povečanje preglednosti in kakovosti postopka ocenjevanja .
for structured finance instrumentsHence , registered or certified credit rating agencies should have the right to access a list of structured finance instruments that are being rated by their competitors .
za strukturirane finančne instrumenteZato morajo imeti registrirane ali certi ­ ficirane bonitetne agencije pravico do dostopa do seznama strukturiranih finančnih instrumentov , ki jih ocenjuje njihova konkurenca .
The information for this rating should be provided by the issuer or a related third party for the purpose of the issuance of unsolicited competing ratings on structured finance instruments .
Informacije za to oceno mora priskrbeti izdajatelj ali povezana tretja oseba za namene izdajanja nenaročenih konkure ­ nčnih ocen strukturiranih finančnih instrumentov .
The issuance of such unsolicited ratings should promote the use of more than one rating per structured finance instrument .
Izdajanje takšnih nenaročenih ocen naj bi vzpodbu ­ jalo uporabo več kot ene ocene na strukturirani finančni instrument .
Access to the websites should only be granted if a credit rating agency is able to ensure the confidentiality of the requested information .
Dostop do spletnih strani se lahko odobri samo , če lahko bonitetna agencija zagotovi zaupnost zahtevanih informacij .
ESMA should be mandated to monitor the implemen ­ tation of such transparency arrangements and to draw up a report analysing their practical impact on the practice of issuing credit ratings and the need for any adjustments .
Organ ESMA bi moral biti pooblaščen za spremljanje izvajanja te ureditve preglednosti in za pripravo poročila , v katerem bo analiziral njen dejanski učinek na dejavnost izdajanja bonitetnih ocen in potrebo po prilagoditvah .
( 11a ) In order to allow effective surveillance by ESMA , credit rating agencies should make available in a central repository established by ESMA information on their historical performance data .
( 11a ) Da se organu ESMA omogoči učinkovit nadzor , bi morale bonitetne agencije dati podatke o svojih preteklih rezultatih na voljo v centralnem registru , ki ga vzpostavi ESMA .
This should be in a format which is consistent with the Union statistical framework and which facilitates direct comparisons between historical data provided by different credit rating agencies .
Ti podatki bi morali biti v obliki , ki je skladna s statističnim okvirom Unije in olajšuje neposredne primer ­ jave med zgodovinskimi podatki , ki jih zagoto ­ vijo različne bonitetne agencije .
Moreover , in order to safeguard the proper functioning of the practice of issuing unsolicited credit ratings , periodic disclosures made by credit rating agencies to ESMA should include specified information related to the issuance of such ratings .
Poleg tega bi morala za potrebe varovanja pravilnega opra ­ vljanja dejavnosti izdajanja nenaročenih bonite ­ tnih ocen periodična razkritja bonitetnih agencij organu ESMA vključevati točno določene infor ­ macije v zvezi z izdajanjem teh ocen .
( 16a ) Competent supervisory authorities , central banks of Member States , the European System of Central Banks and the European Central Bank , in their capacity as monetary authorities , the European Systemic Risk Board and , where appropriate , other Member State authorities responsible for overseeing payment and settlement systems , should have access to the information which has been collected by ESMA from credit rating agencies which is relevant for the exercise of their tasks .'
( 16a ) Pristojni nadzorni organi , centralne banke držav članic , Evropski sistem centralnih bank in Evropska centralna banka kot monetarne oblasti , Evropski odbor za sistemska tveganja ter , kjer je to primerno , drugi organi držav članic , odgo ­ vorni za nadzor nad plačilnimi sistemi in sistemi poravnave , bi morali imeti dostop do informacij , ki jih organ ESMA zbere od bonitetnih agencij in so pomembne za opravljanje njihovih nalog ."
Justfication See paragraphs 5 to 8 of the opinion .
Pojasnilo Glej odstavke 5 do 8 tega mnenja .
These amendments are related to amendments 3 to 7 .
Te spremembe so povezane s spremembami 3 do 7 .
Amendment 3 Article 1 ( 4 ) of the proposed regulation
Sprememba 3 Člen 1 ( 4 ) predlagane uredbe
The following Articles 8a and 8b are inserted : « Article 8a Information on structured finance instruments
Vstavita se naslednja člena 8a in 8b : ‚Člen 8a Informacije o strukturiranih finančnih instrumentih
The following Articles 8a , 8b and 8c are inserted : « Article 8a Information on structured finance instruments
Vstavitajo se naslednjai členai 8a , in 8b in 8c : ‚Člen 8a Informacije o strukturiranih finančnih instrumentih