natgillin/translations-raw huggingface dataset:
Concerning the research priority of monetary policy analysis , a conference jointly organised by the Bank of Canada and the ECB on the definition of price stability was held at the ECB Consumption Network .
Pri soorganiziranih konferencah so sodelovali CEPR in druge centralne banke članice in nečlanice Eurosistema . Poleg tega je bilo organiziranih veliko delavnic in seminarjev , na katerih so bile raziskave predstavljene zaposlenim v ECB .
Other topics analysed within this area of research were central bank communication policies , expectations and risk premia in the yield curve , and the determinants of equity price dynamics .
Večina konferenc in delavnic se je nanašala na konkretna prednostna raziskovalna področja .
Financial stability issues and their impact on monetary policy were also explored , particularly in the context of work carried out for the ECB 's Financial Stability Review . The financial system was analysed along two dimensions : its degree of integration and the evolution of capital markets .
Delo na področju razvoja modelov napovedovanja se je leta 2007 nadaljevalo in bilo deležno enake pozornosti kot v prejšnjih letih . Septembra je v skupni organizaciji ECB , CEPR in Banque de France v okviru mreže za raziskovanje poslovnega cikla euroobmočja potekala delavnica , na kateri so bile obravnavane spremembe v dinamiki inflacije in njihove posledice za napovedovanje .
Under the research priority related to international issues , the main areas of interest were global imbalances and the international role of the euro .
Ugotovitve delavnice so ponudile koristno izhodišče za delo na področju napovedovanja inflacije , ki poteka v ECB .
As regards the former , a highlevel seminar will be organised in 2008 , while the outcome of work on the latter will be used to enhance the analytical content of the annual « Review of the international role of the euro » . In the context of this research priority , an international extension of the NAWM was developed .
Poleg tega je na delavnici o metodah napovedovanja ( dogodku , ki ga ECB organizira enkrat na dve leti ) potekala razprava o negotovosti pri napovedovanju v makroekonomiji in financah ter konkretneje o tem , kako v napovedovanje vključiti merila tveganja , kar je za številne centralne banke aktualna tema .
5.2 PUBLICATIONS AND CONFERENCES The ECB 's research results were published in its Working Paper Series and , to some extent , also through the Occasional Paper Series and the Legal Working Paper Series .
5.2 PUBLIKACIJE IN KONFERENCE Rezultati raziskav ECB so bili objavljeni v seriji delovnih zvezkov ECB ( Working Papers ) , delno tudi v seriji občasnih zvezkov ECB ( Occasional Papers ) , in v seriji pravnih delovnih zvezkov ( Legal Working Papers ) .
In particular , the Working Paper Series -- already a wellestablished tool to communicate policy-relevant internal research -- saw the publication of more than 140 working papers in 2007 .
Tako je bilo leta 2007 v okviru serije delovnih zvezkov -- že dobro uveljavljenega orodja za obveščanje javnosti o notranjih raziskavah , pomembnih za denarno politiko -- objavljenih več kot 140 številk .
Slightly more than 100 were written by ECB staff , either alone or with external co-authors , with the remainder being written by external visitors attending conferences and workshops , working in the context of research networks or following a prolonged stay at the ECB for the completion of a research project . As is now the established norm ,
Dobrih 100 so bodisi sami ali skupaj z zunanjimi soavtorji napisali uslužbenci ECB , medtem ko so druge napisali zunanji obiskovalci , ki so se udeležili konferenc ali delavnic , so delovali v okviru raziskovalnih mrež ali pa so kot gostujoči raziskovalci dlje časa gostovali v ECB , da bi dokončali raziskovalni projekt .
in November 2007 .
Na prednostnem raziskovalnem področju , ki se nanaša na analizo denarne politike , je novembra 2007 v ECB potekala konferenca o opredelitvi stabilnosti cen , ki sta jo skupaj organizirali Bank of Canada in ECB .
The conference addressed the theoretical options and practical experience in the context of defining price stability .
Konferenca je obravnavala teoretične možnosti in praktične izkušnje v zvezi z opredeljevanjem stabilnosti cen .
Another conference in November 2007 on the analysis of the role , challenges and implications of money markets from a monetary policy perspective further advanced the understanding of the transmission mechanism of monetary policy .
Prav tako novembra 2007 je bila izvedena konferenca o analizi vloge , izzivov in implikacij denarnih trgov z vidika denarne politike , ki je dodatno izboljšala razumevanje transmisijskega mehanizma denarne politike .
A conference on the implications of changes in banking and the financing of firms for the monetary policy transmission mechanism was held in May 2007 .
Maja 2007 je potekala konferenca o posledicah sprememb v bančništvu in financiranju podjetij za transmisijski mehanizem denarne politike .
A joint conference with the Bank of England -- on payments and monetary and financial stability -- was held in June 2007 as part of the work in the area of financial stability research , and a conference on globalisation and the macroeconomy took place in July 2007 in the context of the work on international issues .
Junija 2007 je v okviru dejavnosti na področju raziskovanja finančne stabilnosti potekala skupna konferenca z Bank of England o plačilih ter denarni in finančni stabilnosti , julija 2007 pa je bila v okviru dejavnosti o mednarodnih vprašanjih organizirana konferenca o globalizaciji in makroekonomiji .
An additional mechanism for the dissemination of research was the organisation of seminar series , of which two were of particular relevance : the Joint Lunchtime Seminars , co-organised with the Deutsche Bundesbank and the Center for Financial Studies , and the Invited Speakers Seminars .
Razširjanje informacij o raziskavah je potekalo tudi prek serije seminarjev , od katerih sta bili še posebej pomembni serija seminarjev Joint Lunchtime Seminars , ki sta jih soorganizirala Deutsche Bundesbank in Center za finančne študije ( Centre for Financial Studies ) , ter serija seminarjev Invited Speakers Seminars .
The two series comprise weekly seminars to which external researchers are invited to present their recent work .
Seriji zajemata tedenske seminarje , na katere so povabljeni zunanji raziskovalci , da predstavijo svoje novejše delo .
The ECB also organises research seminars outside the scope of these two series on a more ad hoc basis .
Poleg tega ECB občasno organizira tudi raziskovalne seminarje zunaj okvira teh dveh serij .
ECB Annual Report 2007 123
ECB Letno poročilo 2007
6 OTHER TASKS AND ACTIVITIES 6.1 COMPLIANCE WITH THE PROHIBITION OF MONETARY FINANCING AND PRIVILEGED ACCESS Pursuant to Article 237 ( d ) of the Treaty , the ECB is entrusted with the task of monitoring the compliance of the 27 EU NCBs and the ECB with the prohibitions implied by Articles 101 and 102 of the Treaty and Council Regulations ( EC ) Nos 3603/93 and 3604/93 .
6 DRUGE NALOGE IN DEJAVNOSTI 6.1 SKLADNOST S PREPOVEDJO DENARNEGA FINANCIRANJA IN PRIVILEGIRANEGA DOSTOPA V skladu s členom 237 ( d ) Pogodbe ES ima ECB nalogo spremljati , kako 27 nacionalnih centralnih bank držav članic EU in ECB upoštevajo prepovedi iz členov 101 in 102 Pogodbe ES ter uredb Sveta ( ES ) št . 3603/93 in 3604/93 .
Article 101 prohibits the ECB and the NCBs from providing overdraft facilities or any other type of credit facility to governments and Community institutions or bodies , as well as from purchasing debt instruments directly from them .
Člen 101 prepoveduje ECB in nacionalnim centralnim bankam , da bi omogočale prekoračitev pozitivnega stanja na računu ali katere koli druge oblike kreditov vladam in institucijam ali organom Skupnosti ter da bi kupovale dolžniške instrumente neposredno od njih .
Article 102 prohibits any measure , not based on prudential considerations , which establishes privileged access by governments and Community institutions or bodies to financial institutions .
Člen 102 prepoveduje vse ukrepe , ki vzpostavljajo privilegiran dostop vlad in institucij ali organov Skupnosti do finančnih institucij in ne temeljijo na načelih skrbnega in varnega poslovanja .
The ECB also monitors the EU central banks » secondary market purchases of debt instruments issued by the domestic public sector , the public sector of other Member States and Community institutions and bodies .
ECB prav tako spremlja , ali centralne banke EU na sekundarnem trgu kupujejo dolžniške instrumente , ki so jih izdali domači javni sektor in javni sektor drugih držav članic ter institucije in organi Skupnosti .
Such purchases should not become a form of indirect monetary financing of the public sector .
Takšni nakupi ne bi smeli postati oblika posrednega denarnega financiranja javnega sektorja .
In 2007 the Governing Council identified two cases of non-compliance with the above Treaty requirements and the associated Council Regulations .
Leta 2007 je Svet ECB odkril dva primera , ko navedene zahteve iz Pogodbe ES in z njimi povezane uredbe Sveta niso bile upoštevane .
First , Národná banka Slovenska purchased debt instruments issued by the European Investment Bank ( EIB ) in the primary market .
Prvič , Národná banka Slovenska je na primarnem trgu kupila dolžniške instrumente , ki jih je izdala Evropska investicijska banka ( EIB ) .
More specifically , on 6 February 2007 Národná banka Slovenska bought USD-denominated EIB bonds amounting to USD 50 million for the purpose of foreign exchange reserve management .
Národná banka Slovenska je 6 . februarja 2007 kupila obveznice EIB v ameriških dolarjih v vrednosti 50 milijonov USD za namen upravljanja deviznih rezerv .
Since the EIB is a Community body , such purchases constitute a breach of the monetary financing prohibition according to Article 101 of the Treaty and Council Regulation ( EC ) No 3603/93 .
Ker je EIB organ Skupnosti , takšen nakup pomeni kršitev prepovedi denarnega financiranja po členu 101 Pogodbe ES in Uredbi Sveta ( ES ) št . 3603/93 .
Národná banka Slovenska sold the EIB debt instruments purchased in the primary market on 22 May 2007 and took immediate measures to prevent the occurrence of such events in the future .
Národná banka Slovenska je na primarnem trgu kupljene dolžniške instrumente EIB prodala 22 . maja 2007 , in takoj ukrepala , da se kaj takega v prihodnje ne bi več ponovilo .
Second , Banka Slovenije exceeded the limit on central bank holdings of coins which are credited to the public sector 's account .
Drugič , Banka Slovenije je presegla omejitev , ki velja za imetje kovancev centralne banke v dobro računa javnega sektorja .
On 15 February 2007 Banka Slovenije 's holdings of coins issued by the public sector and credited to the national public sector 's account exceeded , on a daily average basis , the limit of 10 % of the value of coins in circulation established by Article 6 of Council Regulation ( EC ) No 3603/93 .
Na dan 15 . februarja 2007 je imetje kovancev Banke Slovenije , ki jih je izdal javni sektor in so knjiženi v dobro računa javnega sektorja države , po dnevni povprečni vrednosti preseglo 10 % omejitev vrednosti kovancev v obtoku , kot določa člen 6 Uredbe Sveta ( ES ) št .
On that date , the value of coins held by Banka Slovenije and credited to the public sector 's account reached 12.27% of the value of coins in circulation .
Na ta dan je vrednost kovancev , ki jih ima Banka Slovenije in so knjiženi v dobro računa javnega sektorja , dosegla 12,27% vrednosti bankovcev v obtoku .
This was a consequence of the strong return of coins to Banka Slovenije in the first half of February 2007 , following the frontloading of the distribution to banks in autumn 2006 prior to the adoption of the euro .
Do tega je prišlo zaradi obsežnega vračanja kovancev v Banko Slovenije v prvi polovici februarja 2007 po preddobavi gotovine bankam jeseni leta 2006 , preden je bil uveden euro .
The situation was fully corrected immediately and the Treaty provisions have been respected since that date .
To je bilo takoj v celoti odpravljeno , določbe Pogodbe ES pa se po tem datumu spoštujejo .
20 All ECB opinions are published on the ECB 's website .
20 Vsa mnenja ECB so objavljena na spletni strani ECB .
The ECB adopted 43 opinions in 2007 : 8 were in response to consultations by the EU institutions and 35 were in response to consultations by national authorities .
Leta 2007 je ECB sprejela 43 mnenj , od tega 8 kot odgovor na zahtevo za mnenje , ki so ga predložile institucije EU , 35 pa v odgovor na zahtevo nacionalnih organov .
This compares with 62 consultations in 2006 .
V letu 2006 je bilo za primerjavo opravljenih 62 posvetovanj .
A list of the opinions adopted in 2007 and early 2008 is annexed to this Annual Report .
Seznam mnenj , sprejetih leta 2007 in na začetku leta 2008 , je priložen temu Letnemu poročilu .
20 The United Kingdom is exempt from the consultation obligation , pursuant to the Protocol on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland , annexed to the Treaty ( OJ C 191 , 29.7.1992 , p. 18 ) . 124
Zlasti pomembna so v nadaljevanju predstavljena mnenja ECB , izdana na zahtevo Sveta EU . 20 V skladu s Protokolom o nekaterih določbah , ki se nanašajo na Združeno kraljestvo Velike Britanije in Severne Irske , priloženim Pogodbi ES ( UL C 191 , 29 .
ECB Annual Report 2007 The following ECB opinions issued at the request of the EU Council are particularly noteworthy .
18 ) , dolžnost posvetovanja z ECB ne velja za nacionalne organe Združenega kraljestva . ECB Letno poročilo 2007
In addition to the opinions adopted under Article 105 ( 4 ) of the Treaty , on 5 July 2007 the ECB issued an opinion 21 pursuant to Article 48 of the Treaty concerning the opening of the Intergovernmental Conference ( IGC ) that drew up the new Lisbon Treaty 22 .
Poleg mnenj , sprejetih na podlagi člena 105 ( 4 ) Pogodbe ES , je ECB 5 . julija 2007 v skladu s členom 48 Pogodbe ES izdala mnenje 21 v zvezi z odprtjem medvladne konference , ki je pripravila novo Lizbonsko pogodbo 22 .
The ECB welcomed in particular the fact that price stability and the establishment of an Economic and Monetary Union with the euro as its currency were to be among the EU 's objectives and that monetary policy was to be expressly listed as one of the EU 's exclusive competences ( see Section 1.2 of Chapter 5 ) .
ECB je še posebno pozdravila dejstvo , da se med cilje EU uvrstita stabilnost cen in vzpostavitev ekonomske in monetarne unije z eurom kot valuto ter da se denarna politika izrecno navede kot eno od področij v izključni pristojnosti EU ( glej razdelek 1.2 v poglavju 5 ) .
On 2 August 2007 , after the draft text of the new Treaty was unveiled , the President of the ECB wrote a letter to the Presidency of the IGC 23 with some suggestions regarding the institutional status of the ECB and the ESCB .
Predsednik ECB je 2 . avgusta 2007 , potem ko je bil predstavljen osnutek besedila nove pogodbe , predsedstvu medvladne konference napisal pismo 23 , v katerem je podal nekaj predlogov glede institucionalnega statusa ECB in ESCB .
Following the abrogation by the Council of Cyprus 's and Malta 's derogation , the ECB issued a single opinion 24 on the proposals of the European Commission for amending Regulation ( EC ) No 974/98 on the introduction of the euro and Regulation ( EC ) No 2866/98 on the conversion rates between the euro and the currencies of the Member States adopting the euro .
Potem ko je Svet odpravil odstopanje za Ciper in Malto , je ECB izdala enotno mnenje 24 o predlogih Evropske komisije o spremembi Uredbe ( ES ) št . 974/98 o uvedbi eura in Uredbe ( ES ) št .
25 The ECB was consulted on a proposal for a Council directive on the identification and designation of European critical infrastructures 26 , aimed at enhancing coordination in response to terrorist threats .
2866/98 o menjalnih tečajih med eurom in valutami držav članic , ki uvajajo euro . 25 ECB je bila zaprošena za mnenje o predlogu direktive Sveta o ugotavljanju in določanju evropskih ključnih infrastruktur , 26 katere namen je izboljšati usklajevanje pri odzivanju na teroristične grožnje .
The ECB noted that national provisions implementing the directive need to be compatible with central banks » responsibilities for oversight of payment and securities settlement systems and clearing houses , and that duplication of work already undertaken by central banks in this area should be avoided .
ECB je izpostavila , da morajo biti nacionalni predpisi , ki uveljavljajo direktivo , združljivi z nalogami centralnih bank v zvezi s pregledom nad delovanjem plačilnih sistemov , sistemov poravnave vrednostnih papirjev in klirinških družb ter da bi se bilo treba izogniti podvajanju dela , ki ga že opravljajo centralne banke na tem področju .
The ECB also emphasised that the list of European critical infrastructures should be kept confidential .
ECB je prav tako poudarila , da bi moral biti seznam evropskih ključnih infrastruktur zaupen .
In an opinion on a proposal for a Council regulation amending Regulation ( EC ) No
ECB je v svojem mnenju o predlogu uredbe Sveta o spremembi Uredbe ( ES ) št .
1338/2001 ( on the protection of the euro against counterfeiting 27 ) , the ECB recalled that criminal law may exceptionally fall within Community competence if necessary to ensure the effectiveness of Community law .
1338/2001 ( o zaščiti eura pred ponarejanjem 27 ) opozorila , da je lahko kazensko pravo izjemoma v pristojnosti Skupnosti , če je to potrebno za zagotovitev učinkovitosti prava Skupnosti .
The ECB noted that the ECB and the NCBs should in principle receive samples of banknotes , even if retained as evidence in criminal proceedings , and that the ECB 's own competence to ensure the integrity of euro banknotes under Article 106 ( 1 ) of the Treaty and Article 16 of the Statute of the ESCB should be more precisely reflected in the proposal .
Pripomnila je , da bi morale biti ECB in nacionalne centralne banke praviloma upravičene , da dobijo primerke bankovcev , čeprav so zadržani kot dokazno gradivo v kazenskih postopkih , ter da bi se morala v pre - dlagani spremembi natančneje odražati pristojnost ECB , da zagotavlja neokrnjenost eurobankovcev po členu 106 ( 1 ) Pogodbe ES in členu 16 Statuta ESCB .
On the procedures to be defined by the ECB and the Commission regarding the obligation to verify that received euro banknotes and coins are checked for authenticity , the opinion noted that these institutions should set the deadlines for national implementation .
Glede postopkov , ki jih bosta določili ECB in Komisija v zvezi z obveznostjo , da se zagotovi preverjanje pristnost prejetih eurobankovcev in eurokovancev , je bilo v mnenju zapisano , da bi morali roke za njihovo izvedbo na nacionalni ravni določiti ECB in Komisija .
In its opinion on a proposal for a regulation of the European Parliament and of the Council amending Regulation ( EC ) No 322/97 on European statistics , 28 the ECB welcomed the recognition of the need for close cooperation between the European Statistical System and the ESCB in the development , production and dissemination of European statistics , and the provisions regarding their exchange of confidential data .
ECB je v svojem mnenju o predlogu uredbe Evropskega parlamenta in Sveta o evropski statistiki , ki spreminja uredbo ( ES ) št . 322/97 , 28 pozdravila priznanje potrebe po tesnem sodelovanju med evropskim statističnim sistemom in ESCB pri razvoju , pripravi in razširjanju evropske statistike ter določb o izmenjavi zaupnih podatkov med sistemoma .
In June 2007 a joint task force composed of representatives of the European Commission , the EU Council 's Secretariat and the ECB issued a report on the consultation of the ECB on proposed Community legal acts .
Junija 2007 je skupna projektna skupina , sestavljena iz predstavnikov Evropske komisije , sekretariata Sveta EU in ECB , izdala poročilo o posvetovanju z ECB glede predlaganih pravnih aktov Skupnosti .
The task force was established following a suggestion of the President of the ECB .
Projektna skupina je bila ustanovljena na predlog predsednika ECB .
The report aims to ensure that all parties speed up internal procedures so that the ECB may be consulted and deliver its opinions as early as possible in the legislative 21 CON / 2007/20 of 5 July 2007 , OJ C 160 , 13.7.2007 , p. 2 .
Poročilo priznava obveznost posvetovanja z ECB o ukrepih na stopnji 2 Lamfalussyjevega procesa 29 , ki spadajo v pristojnost ECB , in pojasnjuje svetovalno pristojnost ECB na področju bonitetnega nadzora in finančne stabilnosti . Razprave v okviru delovne skupine so 21 CON / 2007/20 z dne 5 .
22 See Section 1.2 of Chapter 5 for details .
22 Za podrobnosti glej razdelek 1.2 v poglavju 5 .
23 The letter has been published on the websites of both the IGC and the ECB .
23 Pismo je dostopno na spletnih straneh medvladne konference in ECB .
24 CON / 2007/19 of 5 July 2007 , OJ C 160 , 13.7.2007 , p. 1 .
24 CON / 2007/19 z dne 5 . julija 2007 ( UL C 160 , 13 .
25 See Section 2 of Chapter 3 .
25 Glej razdelek 2 v poglavju 3 .
26 CON / 2007/11 of 13 April 2007 , OJ C 116 , 26.7.2007 , p. 1 .
26 CON / 2007/11 z dne 13 . aprila 2007 ( UL C 116 , 26 .
27 CON / 2007/42 of 17 December 2007 , OJ C 27 , 31.1.2008 , p. 1 .
27 CON / 2007/42 z dne 17 . decembra 2007 ( UL C 27 , 31 .
28 CON / 2007/35 of 14 November 2007 , OJ C 291 , 5.12.2007 , p. 1 .
28 CON / 2007/35 z dne 14 . novembra 2007 ( UL C 291 , 5 .
ECB Annual Report 2007
12 . 2007 , str .
process .
1 ) .
It recognises the obligation to consult the ECB on Lamfalussy Level 2 measures 29 falling within the ECB 's fields of competence , and clarifies the ECB 's advisory competence in the fields of prudential supervision and financial stability .
29 Lamfalussyjev pristop je štiristopenjski proces za odobritev zakonodaje na področju vrednostnih papirjev , bančništva in zavarovalništva .
The discussions within the task force have developed a shared understanding of the need for cooperation for the benefit of the legislative processes of the Community as a whole .
Več podrobnosti je v poročilu z naslovom „Final report of the Committee of Wise Men on the regulation of European securities markets » , 15 .
The report reflects the common understanding of the members of the task force and does not formally bind their respective institutions .
Poročilo izraža skupno stališče članov projektne skupine , njihovih institucij pa formalno ne zavezuje .
The ECB continued to be consulted by national authorities on issues pertaining to the NCBs , in particular on amendments to the statutes of the German , Greek , Hungarian and Austrian NCBs .
Z ECB so se nacionalni organi še naprej posvetovali o zadevah v zvezi z nacionalnimi centralnimi bankami , zlasti o spremembah statuta nacionalnih centralnih bank Nemčije , Grčije , Madžarske in Avstrije .
30 The ECB was also consulted by the Czech Republic , Hungary , Portugal and Romania on issues that may have a bearing on the NCBs » independence as members of the ESCB .
30 Poleg tega so Češka , Madžarska , Portugalska in Romunija zaprosile ECB za mnenje o zadevah , ki bi lahko vplivale na neodvisnost nacionalnih centralnih bank kot članic ESCB .
31 The ECB was consulted in the area of monetary policy by Latvia , Malta , Poland and Romania on the minimum reserves regime , 32 and by Cyprus , Poland and Slovenia with regard to currency matters and means of payment .
31 Na področju denarne politike je ECB svetovala Latviji , Malti , Poljski in Romuniji v zvezi z ureditvijo obveznih rezerv 32 ter Cipru , Poljski in Sloveniji v zvezi z valutnimi zadevami in plačilnimi sredstvi .
33 The ECB was also consulted by Austria , Germany , Hungary and Romania on statistical issues .
33 Z ECB so se o zadevah v zvezi s statistiko posvetovale tudi Avstrija , Nemčija , Madžarska in Romunija .