natgillin/translations-raw huggingface dataset:
CCP pri svojih naložbenih odločitvah upošteva svojo celotno izpostavljenost iz naslova kreditnega tveganja do posameznih dolžnikov in zagotovi, da njena celotna izpostavljenost do posameznega dolžnika ostaja v sprejemljivih mejah koncentracije.
A CCP shall take into account its overall credit risk exposures to individual obligors in making its investment decisions and shall ensure that its overall risk exposure to any individual obligor remains within acceptable concentration limits.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA po posvetovanju z organom EBA oblikuje osnutek regulativnih tehničnih standardov, ki določajo visoko likvidne finančne instrumente iz odstavka 1 in omejitve koncentracije iz odstavka 4.
In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, develop draft regulatory technical standards specifying the highly liquid financial instruments referred to in paragraph 1 and the concentration limits referred to in paragraph 4.
Postopki v primeru neplačil
Default procedures
CCP ima vzpostavljene podrobne postopke za primer, ko klirinški član ne izpolnjuje zahtev iz člena 35 v roku in v skladu s postopki, ki jih je določila CCP.
A CCP shall have detailed procedures in place to be followed where a clearing member does not comply with the requirements laid down in Article 35 within the time limit and according to the procedures established by the CCP.
CCP podrobno opredeli postopke, ki jih je treba uporabiti, če ne ugotovi plačilne nesposobnosti klirinškega člana.
The CCP shall outline in detail the procedures to be followed in the event the insolvency of a clearing member is not established by the CCP.
Ti postopki se pregledujejo vsako leto.
These procedures shall be reviewed annually.
CCP takoj sprejme ukrepe za omejitev izgub in likvidnostnih pritiskov, ki so posledica neizpolnjevanja obveznosti, in zagotovi, da zaprtje katere koli pozicije klirinškega člana ne povzroči motenj v njenem delovanju ali ne izpostavi klirinških članov, ki niso v zaostanku z izpolnitvijo obveznosti, izgubam, ki jih ti ne morejo predvideti ali nadzorovati.
A CCP shall take prompt action to contain losses and liquidity pressures resulting from defaults and shall ensure that the closing out of any clearing member's positions does not disrupt its operations or expose the non-defaulting clearing members to losses that they cannot anticipate or control.
CCP nemudoma obvesti pristojni organ.
The CCP shall promptly inform the competent authority.
Ta pristojni organ nemudoma obvesti organ, odgovoren za nadzor klirinškega člana, ki je v zaostanku z izpolnitvijo obveznosti, če CCP meni, da klirinški član ne bo mogel izpolniti svojih prihodnjih obveznosti, in ko CCP namerava prijaviti njegovo neizpolnjevanje obveznosti.
That competent authority shall immediately inform the authority responsible for the supervision of the defaulting clearing member where the CCP considers that the clearing member will not be able to meet its future obligations and when the CCP intends to declare its default.
CCP zagotovi, da so njeni postopki v primeru neplačil izvršljivi.
A CCP shall establish that its default procedures are enforceable.
Sprejeti mora vse primerne ukrepe, da si zagotovi zakonska pooblastila za likvidacijo lastniških pozicij klirinškega člana, ki je v zaostanku z izpolnitvijo obveznosti, in za prenos ali likvidacijo pozicij stranke klirinškega člana, ki je v zaostanku z izpolnitvijo obveznosti.
It shall take all the reasonable steps to ensure that it has the legal powers to liquidate the proprietary positions of the defaulting clearing member and to transfer or liquidate the client's positions of the defaulting clearing member.
Pregled modelov, testiranje izjemnih situacij in testiranje za nazaj
Review of models, stress testing and back testing
CCP redno pregleduje sprejete modele in parametre za izračun zahtev po kritju, prispevkov v jamstveni sklad, zahtev glede zavarovanja in drugih mehanizmov za obvladovanje tveganja.
A CCP shall regularly review the models and parameters adopted to calculate its margin requirements, default fund contributions, collateral requirements and other risk control mechanisms.
Modele izpostavlja strogemu in pogostemu testiranju v izjemnih situacijah, da oceni njihovo odpornost na izjemne, vendar verjetne tržne razmere, in izvaja testiranje za nazaj, da oceni zanesljivost sprejete metodologije.
It shall subject the models to rigorous and frequent stress tests to assess their resilience in extreme but plausible market conditions and shall perform back tests to assess the reliability of the methodology adopted.
CCP o rezultatih opravljenih testov obvesti pristojni organ in preden sprejme kakršne koli spremembe modelov in parametrov, pridobi njegovo potrditev.
The CCP shall inform the competent authority of the results of the tests performed and shall obtain its validation before adopting any change to the models and parameters.
CCP redno testira ključne vidike svojih postopkov v primeru neplačil in sprejme vse primerne ukrepe, da postopke razumejo vsi klirinški člani in da ima vzpostavljene vse ustrezne mehanizme za odziv v primeru neplačila.
A CCP shall regularly test the key aspects of its default procedures and take all the reasonable steps to ensure that all clearing members understand them and have appropriate arrangements in place to respond to a default event.
2a Organ ESMA evropskim nadzornim organom zagotovi informacije o rezultatih testiranja izjemnih situacij iz odstavka 1, da bi lahko ocenili izpostavljenost finančnih podjetij neizpolnjevanju obveznosti CCP.
2a ESMA shall provide information on the results of the stress tests referred to in paragraph 1 to the ESAs in order to enable them to assess the exposure of financial undertakings to the default of CCPs.
CCP javno razkrije ključne informacije o modelu upravljanja tveganja in predpostavke, sprejete za izvajanje testiranj v izjemnih situacijah iz odstavka 1 , ter rezultate testiranja izjemnih situacij, razen v primeru, ko pristojni organ po posvetovanju z organom ESMA meni, da bi takšno razkritje ogrozilo finančno stabilnost .
A CCP shall publicly disclose key information on its risk management model and assumptions adopted to perform the stress tests referred to in paragraph 1 and the outcome of the stress tests except in the case that the competent authority, after consulting ESMA , considers that such disclosure would constitute a threat to financial stability.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA oblikuje osnutek regulativnih tehničnih standardov, ki določajo naslednje:
In order to ensure consistent harmonisation of this A rticle ESMA shall develop draft regulatory technical standards specifying the following:
(a) vrsto testov, ki jih je treba izvesti za različne razrede finančnih instrumentov in portfeljev;
(a) the type of tests to be undertaken for different classes of financial instruments and portfolios;
(b) vključenost klirinških članov ali drugih strank v testiranje;
(b) the involvement of clearing members or other parties in the tests;
(c) pogostnost testiranj;
(c) the frequency of the tests;
(d) časovna obdobja testiranj;
(d) the time horizons of the tests;
(e) ključne informacije iz odstavka 3.
(e) the key information referred to in paragraph 3.
CCP za poravnavo svojih transakcij uporabi denar centralne banke, kadar je to smotrno in mogoče.
A CCP shall, where practical and available, use central bank money to settle its transactions.
Kadar denar centralne banke ni uporabljen , se sprejmejo ukrepi za strogo omejitev ▌tveganja denarne poravnave .
Where central bank money is not used , steps shall be taken to strictly limit cash settlement risks.
CCP jasno navede svoje obveznosti v zvezi z izročitvijo finančnih instrumentov, vključno s tem, ali mora finančni instrument izročiti ali sprejeti oziroma ali udeležencem povrne izgube, ki nastanejo pri dobavi.
A CCP shall clearly state its obligations with respect to deliveries of financial instruments, including whether it has an obligation to make or receive delivery of a financial instrument or whether it indemnifies participants for losses incurred in the delivery process.
Kadar mora CCP izročiti ali sprejeti finančne instrumente, z uporabo mehanizmov dostave proti plačilu v največji možni meri odpravi glavno tveganje.
Where a CCP has an obligation to make or receive deliveries of financial instruments, the CCP shall eliminate principal risk through the use of delivery-versus-payment mechanisms to the extent possible.
Dogovori o interoperabilnosti
Interoperability arrangements
CCP lahko sklene dogovor o interoperabilnosti z drugo CCP, kadar so izpolnjene zahteve iz členov 49 in 50.
A CCP may enter into an interoperability arrangement with another CCP, where the requirements under Articles 49 and 50 are fulfilled.
1a Da CCP ne bi izpostavili dodatnim tveganjem, se dogovori o interoperabilnosti omejijo na prenosljive vrednostne papirje in instrumente denarnega trga, kot so opredeljeni v točkah 18(a) in (b) ter točki 19 člena 4(1) Direktive 2004/39/ES za namene te uredbe.
1a In order not to expose CCPs to additional risks , interoperab ility arrangements shall be restricted to transferable securities and money-market instruments, as defined under point 18(a) and (b) and point 19 of Article 4(1) of Directive 2004/39/EC for the purposes of this Regulation.
Vendar organ ESMA do 30. septembra 2014 Komisiji predloži poročilo o tem, ali bi bilo primerno razširiti področje uporabe na druge finančne instrumente.
However, by 30 September 2014, ESMA sh all submit a report to the Commission on whether an extension of that scope to other financial instruments would be appropriate.
Pri sklepanju dogovora o interoperabilnosti z drugo CCP za namen zagotavljanja storitev za določeno mesto trgovanja ima CCP nediskriminatoren dostop do podatkov, ki jih potrebuje za opravljanje svojih funkcij s tega mesta trgovanja, in do ustreznega sistema poravnave.
When establishing an interoperability arrangement with another CCP for the purpose of providing services to a particular trading venue, the CCP shall have non-discriminatory access to the data that it needs for the performance of its functions from that particular trading venue and to the relevant settlement system.
Sklepanje dogovora o interoperabilnosti ali dostopanje do vira podatkov ali sistema poravnave iz odstavkov 1 in 2 je lahko posredno ali neposredno omejeno samo za namen nadzora tveganja, ki izhaja iz tega dogovora ali dostopa.
Entering into an interoperability arrangement or accessing a data feed or a settlement system referred to in paragraphs 1 and 2 shall only be restricted, directly or indirectly, to control any risk arising from that arrangement or access.
Dostop CCP do podatkov o trgovanju
CCP access to trade feeds
CCP ima pravico do nediskriminatornega dostopa do podatkov vsakega mesta trgovanja in dostopa do vira podatkov vseh ustreznih sistemov poravnave, ki jih potrebuje za izvajanje svojih dolžnosti.
A CCP shall have the right to non-discriminatory access to the data feed of any particular trading venue and access to any relevant settlement system that it needs for the performance of its duties.
Upravljanje tveganja
Risk management
CCP, ki sklenejo dogovor o interoperabilnosti:
CCPs that enter into an interoperability arrangement shall:
(a) vzpostavijo ustrezne politike, postopke in sisteme za učinkovito ugotavljanje, spremljanje in upravljanje dodatnih tveganj, ki izhajajo iz dogovora, da lahko pravočasno izpolnijo svoje obveznosti;
(a) put in place adequate policies, procedures and systems to effectively identify, monitor and manage the additional risks arising from the arrangement so that they can meet their obligations in a timely manner;
(b) se sporazumejo glede svojih pravic in obveznosti, vključno z veljavno zakonodajo, ki ureja njihove odnose;
(b) agree on their respective rights and obligations, including the applicable law governing their relationships;
(c) ugotavljajo, spremljajo in učinkovito upravljajo kreditna in likvidnostna tveganja, tako da neizpolnjevanje obveznosti klirinškega člana ene CCP ne vpliva na interoperabilno CCP;
(c) identify, monitor and effectively manage credit and liquidity risks so that a default of a clearing member of one CCP does not affect an interoperable CCP;
(d) ugotavljajo, spremljajo in obravnavajo morebitne medsebojne odvisnosti in korelacije, ki izhajajo iz dogovora o interoperabilnosti ter lahko vplivajo na kreditna in likvidnostna tveganja, povezana s koncentracijami klirinških članov in združenimi finančnimi sredstvi.
(d) identify, monitor and address potential interdependences and correlations that arise from an interoperability arrangement that may affect credit and liquidity risks related to clearing member concentrations and pooled financial resources.
CCP za namene točke (b) uporabljajo enaka pravila o trenutku vstopa nalogov za prenos v njihove sisteme in trenutku nepreklicnosti, kot je določeno v Direktivi 98/26/ES, kjer je to ustrezno.
For the purposes of point (b) of the first subparagraph, CCPs shall use the same rules concerning the moment of entry of transfer orders into their respective systems and the moment of irrevocability, as set out in Directive 98/26/EC where relevant.
Za namene točke (c) prvega pododstavka se v pogojih dogovora opredeli postopek za upravljanje posledic neizpolnjevanja obveznosti, kadar ena od CCP, s katero je sklenjen dogovor o interoperabilnosti, ne izpolni svojih obveznosti.
For the purposes of point (c) of the first subparagraph, the terms of the arrangement shall outline the process for managing the consequences of the default where one of the CCPs with which an interoperability arrangement has been concluded is in default.
Za namene točke (d) prvega pododstavka imajo CCP močan nadzor nad ponovnim zajamčenjem zavarovanja klirinških članov v okviru dogovora, če to dovoljujejo njihovi pristojni organi.
For the purposes of point (d) of the first subparagraph, CCPs shall have robust controls over the re-hypothecation of clearing members' collateral under the arrangement, if permitted by their competent authorities.
Dogovor navaja, kako se obravnavajo ta tveganja ob upoštevanju zadostnega kritja in potrebe po omejitvi negativnih vplivov.
The arrangement shall outline how these risks have been addressed taking into account sufficient coverage and the need to limit contagion.
Kadar se modeli upravljanja tveganja, ki jih CCP uporabljajo za kritje svoje izpostavljenosti do svojih klirinških članov in svojih medsebojnih izpostavljenosti, razlikujejo, CCP te razlike opredelijo, ocenijo tveganja, ki bi lahko iz tega izvirala, in sprejmejo ukrepe, vključno z zagotavljanjem dodatnih finančnih sredstev, ki omejijo njihov vpliv na dogovor o interoperabilnosti in njihove morebitne posledice v smislu tveganj negativnih vplivov, ter zagotovijo, da te razlike ne vplivajo na zmožnost posamezne CCP za obvladovanje posledic neizpolnjevanja obveznosti klirinškega člana.
Where the risk management models used by the CCPs to cover their exposure to their clearing members as well as their reciprocal exposures are different, the CCPs shall identify those differences, assess risks that may arise therefrom and take measures, including securing additional financial resources, that limit their impact on the interoperability arrangement as well as their potential consequences in terms of contagion risks and ensure that these differences do not affect each CCP's ability to manage the consequences of the default of a clearing member.
Zagotavljanje kritja med CCP
Provision of margins among CCPs
CCP ločuje zavarovanje, ki ga prejme od CCP, s katerimi je sklenila dogovor o interoperabilnosti.
A CCP shall segregate the collateral received by CCPs with wh ich it has entered into an interoperability arrangement.
Zavarovanje, prejeto v obliki denarnih sredstev, se hrani na ločenih računih.
Collateral received in the form of cash shall be held in segregated accounts .
Zavarovanje, prejeto v obliki finančnih instrumentov, se hrani na ločenih računih pri upravljavcih sistemov poravnave vrednostnih papirjev, ki se obvestijo v skladu z Direktivo 98/26/ES.
Collateral received in the form of financial instruments shall be held in segregated accounts with operators of securities settlement systems notified under Directive 98/26/EC.
Zavarovanje, ločeno po odstavkih 1, 2 in 3, je na razpolago prejemni CCP samo, če CCP, ki je zagotovila zavarovanje v okviru dogovora o interoperabilnosti, ne izpolnjuje obveznosti.
Collateral segregated under paragraphs 1, 2 and 3 shall be available to the receiving CCP only in case of default of the CCP which has provided the collateral in the context of an interoperability arrangement.
V primeru, da CCP, ki je prejela zavarovanje v okviru dogovora o interoperabilnosti, ne izpolnjuje obveznosti, se zavarovanje, ki se hrani ločeno v skladu z odstavki 1, 2 in 3, nemudoma vrne CCP, ki ga je zagotovila.
In case of default of the CCP which has received the collateral in the context of an interoperability arrangement, the collateral segregated under paragraphs 1, 2 and 3 shall be readily returned to the providing CCP.
Odobritev dogovorov o interoperabilnosti
Approval of interoperability arrangements
Dogovor o interoperabilnosti morajo predhodno odobriti pristojni organi vključenih CCP.
An interoperability arrangement shall be subject to the prior approval of the competent authorities of the CCPs involved.
Uporablja se postopek iz člena 13.
The procedure under Article 13 shall apply.
Pristojni organi odobrijo dogovor o interoperabilnosti le, če so sodelujoče CCP dobile dovoljenje za kliring po postopku iz člena 13 ter na podlagi tega dovoljenja stalno opravljajo svojo vlogo pri kliringu pogodb o izvedenih finančnih instrumentih v skladu z zahtevami o nadzoru v obdobju najmanj treh let, če so zahteve iz člena 49 izpolnjene, če tehnični pogoji za kliring transakcij v skladu s pogoji dogovora omogočajo nemoteno in pravilno delovanje finančnih trgov in če dogovor ne zmanjša učinkovitosti nadzora.
The competent authorities shall only grant approval of the interoperability arrangement where the CCPs involved have been authorised to clear under the procedure set out in Article 13 and have continuously fulfilled their role in clearing the derivative contracts under that authorisation in accordance with supervisory requirements for a period of at least three years, the requirements set out in Article 49 are met and the technical conditions for clearing transactions under the terms of the arrangement allow for a smooth and orderly functioning of financial markets and the arrangement does not undermine the effectiveness of supervision .
Kadar pristojni organ meni, da zahteve iz odstavka 2 niso izpolnjene, drugim pristojnim organom in zadevnim CCP posreduje pisno razlago s tveganji povezanih pomislekov.
Where a competent authority considers that the requirements set out in paragraph 2 are not met, it shall provide explanations in writing regarding its risk considerations to the other competent authorities and the CCPs involved.
Obvesti tudi organ ESMA, ki izda mnenje o dejanski veljavnosti s tveganjem povezanih pomislekov kot razlogih za zavrnitev dogovora o interoperabilnosti.
It shall also notify ESMA, which shall issue an opinion on the effective validity of the risk considerations as grounds for denial of an interoperability arrangement.
Mnenje organa ESMA se da na voljo vsem zadevnim CCP.
ESMA's opinion shall be made available to all the CCPs involved.
Kadar se ocena organa ESMA razlikuje od ocene zadevnega pristojnega organa, slednji ob upoštevanju mnenja organa ESMA ponovno preuči svoje stališče.
Where ESMA's assessment differs from the assessment of the relevant competent authority, this authority shall reconsider its position, taking into account the opinion of ESMA.
Organ ESMA do 30. junija 2012 izda smernice ali priporočila za vzpostavitev doslednega, učinkovitega in uspešnega ocenjevanja dogovorov o interoperabilnosti v skladu s postopkom, določenim v členu 8 Uredbe (EU) št. 1095/2010 .
By 30 June 2012, ESMA shall issue guidelines or recommendations with a view to establishing consistent, efficient and effective assessments of interoperability arrangements, in accordance with the procedure laid down in Article 8 of Regulation (EU) No 1095/2010.
Naslov VIRegistracija in nadzor repozitorijev sklenjenih poslov
Title VIRegistration and surveillance of trade repositories
Pogoji in postopki za registracijo repozitorija sklenjenih poslov
Conditions and Procedures for Registration of a Trade Repository
Registracija repozitorija sklenjenih poslov
Registration of a Trade Repository
Repozitorij sklenjenih poslov se registrira pri organu ESMA za namene člena 6.
A trade repository shall register with ESMA for the purposes of Article 6.
Da se lahko registrira po tem členu, mora biti repozitorij sklenjenih poslov pravna oseba s sedežem v Uniji in izpolnjevati zahteve iz naslova VII.
To be eligible to be registered under this Article, a trade repository shall be a legal person established in the Union and meet the requirements of Title VII.
Registracija repozitorija sklenjenih poslov velja za celotno ozemlje Unije.
The registration of a trade repository shall be effective for the entire territory of the Union.
Registrirani repozitorij sklenjenih poslov ves čas izpolnjuje začetne pogoje za registracijo.
A registered trade repository shall comply at all times with the initial conditions for registration.
Repozitorij sklenjenih poslov brez nepotrebnega odlašanja organu ESMA sporoči vse pomembne spremembe pogojev za registracijo.
A trade repository shall, without undue delay, notify ESMA of any material changes to the conditions for registration.
Vloga za registracijo
Application for registration
Repozitorij sklenjenih poslov predloži svojo vlogo za registracijo organu ESMA.
A trade repository shall submit an application for registration to ESMA.
Organ ESMA v desetih delovnih dneh od prejema vloge oceni, ali je ta popolna.
ESMA shall assess whether the application is complete within ten working days of receipt of the application.
Če vloga ni popolna, organ ESMA določi rok, v katerem mora repozitorij sklenjenih poslov predložiti dodatne informacije.
Where the application is not complete, ESMA shall set a deadline by which the trade repository is to provide additional information.
Ko organ ESMA oceni, da je vloga popolna, o tem ustrezno uradno obvesti repozitorij sklenjenih poslov.
After assessing an application as complete, ESMA shall notify the trade repository accordingly.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA oblikuje osnutek regulativnih tehničnih standardov, ki določajo podrobnosti v zvezi z vlogo za registracijo pri organu ESMA iz odstavka 1.
In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the details of the application for registration to ESMA referred to in paragraph 1.
Za zagotovitev enotne uporabe odstavka 1 organ ESMA pripravi osnutek izvedbenih tehničnih standardov, ki določajo obliko vloge za registracijo pri njem .
In order to ensure uniform application of paragraph 1, ESMA shall develop draft implementing technical standards determining the format of the application for registration to ESMA.
Organ ESMA navedene osnutke izvedbenih tehničnih standardov predloži Komisiji do 30. junija 2012.
ESMA shall submit those draft implementing technical standards to the Commission by 30 June 2012.
Komisiji se podeli pooblastilo za sprejetje izvedbenih tehničnih standardov iz prvega pododstavka ▌v skladu s členom 15 Uredbe (EU) št. 1095/2010 .
Power is conferred on the Commission to adopt the draft implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.
Preučitev vloge
Examination of the application