natgillin/translations-raw huggingface dataset:
Klirinški člani strankam omogočijo, da njihove pozicije evidentirajo na zbirnih računih s CCP, kar morajo te pisno zahtevati.
Clients shall be given by clearing members the possibility to have their positions recorded in omnibus accounts with the CCP by making a written request to that effect.
CCP in klirinški člani javno razkrijejo stopnje zaščite in stroške, povezane s posameznimi stopnjami ločevanja, ki jih zagotavljajo.
The CCP and clearing member s shall publically disclose the levels of protection and the costs associated with the different levels of segregation they provide.
V podrobnem opisu teh stopenj navedejo tudi njihove glavne pravne posledice, med drugim informacije o veljavni zakonodaji o nesolventnosti v zadevnih jurisdikcijah.
Details of the different levels of segregation shall include a description of the main legal implications of the respective levels of segregation offered including information on the relevant jurisdictions' applicable insolvency law.
CCP od klirinških članov zahteva, da o teh tveganjih in stroških obvestijo svoje stranke.
The CCP shall require the clearing members to inform their clients of these risks and costs.
CCP vodi evidence, ki v vsakem trenutku in brez odlašanja omogočajo, da identificira sredstva, nakazana na posamezne račune, ki so vodeni v skladu s tem členom.
A CCP shall keep records that shall enable it, at any time and without delay, to identify the assets posted in relation to each account kept in accordance with th is Article.
CCP svojo ureditev oblikuje tako, da lahko v primeru popolnega ločevanja omogoči prenos pozicij in zavarovanja strank člana, ki ne izpolnjuje obveznosti, na enega ali več drugih udeležencev.
A CCP sh all structure its arrangements to ens ure that whe re full segregation applies it can facilitate the transfer of the positions and collateral of clients of a defaulting member to one or more other participants .
V primeru, da ima stranka popolno ločevanje , velja točka 6 dela 2 Priloge III k Direktivi 2006/48/ES.
Provided that a client has full segregation , Annex III, Part 2, point 6 of Directive 2006/48/EC shall apply.
Države članice zagotovijo, da njihova zakonodaja o nesolventnosti vključuje zadostna odstopanja, da bo CCP lahko izpolnila cilje in zahteve teh določb.
Member S tates shall ensure that their insolvency laws include derogations sufficient to allow CCPs to meet the objectives and requirements of these provisions .
Zadevni odločilni dogodki zajemajo nesolventnost klirinškega člana in podobne dogodke ter neizpolnjevanje obveznosti.
The relevant trigger events shall include insolvency of a clearing member and appropriate events, and failure to meet existing obligations.
Da se zagotoviti dosledna usklajenost tega člena, organ ESMA oblikuje osnutek tehničnih standardov, ki te dogodke podrobneje opredeljujejo.
In order to ensure consistent harmonisation of this Article, ESMA shall develop draft technical standards specifying the relevant events in greater detail.
Organ ESMA Komisiji do 30. junija 2012 predloži osnutek navedenih regulativnih tehničnih standardov.
ESMA shall submit draft for those regulatory technical standards to the Commission by 30 June 2012.
Komisija je pooblaščena za sprejetje regulativnih tehničnih standardov iz tretjega pododstavka v skladu s členi od 10 do 14 Uredbe (EU) št. 1095/2010.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the third subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
Bonitetne zahteve
Prudential Requirements
Upravljanje izpostavljenosti
Exposure management
CCP čim bolj sproti meri in ocenjuje svojo likvidnost in kreditno izpostavljenost do vsakega klirinškega člana in, kjer je to primerno, do druge CCP, s katero ima sklenjen inteoperabilni dogovor.
A CCP shall measure and assess its liquidity and credit exposures to each clearing member and, where relevant, to another CCP with whom it has concluded an interoperable arrangement, on a near to real time basis.
CCP ugotavlja, spremlja in obvladuje morebitna tveganja, ki izhajajo iz kliringa transakcij klirinških članov v imenu strank, kolikor je to izvedljivo .
A CCP sh all , to the extent practicable, identify, monitor and manage the potential risks arising from clearing members clearing transactions on behalf of clients.
CCP ima pravočasen in nediskriminatoren dostop do ustreznih virov za oblikovanje cen za učinkovito merjenje svoje izpostavljenosti.
A CCP shall have access in a timely manner and on a non discriminatory basis to the relevant pricing sources to effectively measure its exposures.
To se stori na podlagi razumnih stroškov in ob spoštovanju mednarodnih lastninskih pravic.
This shall be done on a reasonable cost basis and respecting international property rights.
Zahteve po kritju
Margin requirements
CCP določi, terja in pobira kritja za omejitev svoje kreditne izpostavljenosti, ki izhaja iz njenih klirinških članov in, kjer je to primerno, iz CCP, s katerimi ima sklenjen dogovor o interoperabilnosti.
A CCP shall impose, call and collect margins to limit its credit exposures from its clearing members, and where relevant, from CCPs which have interoperable arrangements.
Pristojne oblasti zagotovijo, da CCP spoštujejo minimalne standarde kritja, kot je določeno v odstavku 5.
Competent authorities shall ensure that CCPs respect minimum margin standards as specified in paragraph 5.
Ti minimalni standardi se določijo v skladu s stopnjo tveganja in se redno spreminjajo, da odražajo tržne razmere, zlasti v izrednih razmerah, ko se ocenjuje, da se bodo s tem ublažila sistemska tveganja.
These minimum standards shall be calibrated in accordance with the risk level and shall be regularly revised to reflect current market conditions and in particular in response to emergency situations where it is concluded that doing so will mitigate systemic risks.
Takšna kritja zadostujejo za kritje morebitnih izpostavljenosti, ki se po ocenah CCP lahko pojavijo do unovčenja zadevnih pozicij.
Such margins shall be sufficient to cover potential exposures that the CCP estimates will occur until the liquidation of the relevant positions.
Kritja so dovolj velika, da se lahko z njimi pokrijejo izgube v najmanj 99 % sprememb izpostavljenosti v ustreznem časovnem obdobju, in zagotovijo, da ima CCP v celoti zavarovane svoje izpostavljenosti nasproti vsem svojim klirinškim članom in po potrebi nasproti CCP, s katerimi imajo sklenjen dogovor o interoperabilnosti, vsaj na dnevni osnovi.
They shall be sufficient to cover losses that result from at least 99 % of the exposures movements over an appropriate time horizon and they shall ensure that a CCP fully collateralises its exposures with all its clearing members, and where relevant with CCPs which have interoperable arrangements, at least on a daily basis.
Organ ESMA lahko v skladu s členom 9(5) Uredbe (EU) št. 1095/2010 v izrednih razmerah prilagodi zahteve po kritju, da bi ublažil sistemska tveganja.
In accordance with Article 9(5) of Regulation (EU) No 1095/2010, ESMA may recalibrate margin requirements in emergency situations when doing so will mitigate systemic risk.
CCP sprejme modele in parametre za določanje zahtev po kritju, ki zajemajo značilnosti tveganja produktov, pri katerih je bil opravljen kliring, in upoštevajo interval pobiranja kritja, likvidnost trga in možnost sprememb v času trajanja posla.
A CCP shall adopt models and parameters in setting its margin requirements that capture the risk characteristics of the products cleared and take into account the interval between margin collections, market liquidity and the possibility of changes over the duration of the transaction.
Modele in parametre potrdi pristojni organ ob upoštevanju ▌mnenja v skladu s členom 15.
The models and parameters shall be validated by the competent authority and subject to an opinion in accordance with Article 15.
CCP terja in pobira kritja čez dan, vsaj takrat, ko so kršeni vnaprej določeni pragi.
A CCP shall call and collect margins on an intraday basis, at least when pre-defined thresholds are breached.
CCP za posebne finančne instrumente terja in pobira ustrezna kritja za kritje pozicij v posameznih računih, vodenih v skladu s členom 37.
A CCP shall call and collect margins that are adequate to cover the positions registered in each account kept in accordance with A rticle 37 with respect to specific financial instruments.
CCP lahko kritje v zvezi s portfteljem finančnih instrumentov izračuna le, če je korelacija cen med finančnimi instrumenti iz portfelja visoka in stabilna.
A CCP may calculate margins with respect to a portfolio of financial instruments only when the price correlation among the financial instruments included in the portfolio is high and stable.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA po posvetovanju z organom EBA oblikuje osnutek regulativnih tehničnih standardov, ki določajo ustrezni odstotek in časovno obdobje, kot je navedeno v odstavku 1, ki ju je treba upoštevati za različne razrede finančnih instrumentov in pogoje iz odstavka 3a .
In order to ensure consistent harmonisation of this Article, ESMA shall , in consultation with EBA, develop draft regulatory technical standards specifying the appropriate percentage and time horizon, as referred to in paragraph 1, to be considered for the different classes of financial instruments and the conditions referred to in paragraph 3a .
Organ ESMA po posvetovanju z organom EBA Komisiji do 30. junija 2012 predloži osnutke navedenih regulativnih tehničnih standardov.
ESMA shall , in consultation with EBA, submit drafts for those regulatory technical standards to the Commission by 30 June 2012.
Komisija je pooblaščena za sprejetje regulativnih tehničnih standardov iz prvega pododstavka ▌v skladu s členi od 10 do 14 Uredbe (EU) št. 1095/2010 .
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
Jamstveni sklad
Default fund
CCP za dodatno omejitev svoje kreditne izpostavljenosti do klirinških članov vzdržuje jamstveni sklad za kritje izgub, ki presegajo izgube, krite z zahtevanimi kritji iz člena 39, in ki izhajajo iz neplačil, vključno z začetkom postopka zaradi nesolvetnosti enega ali več klirinških članov.
To further limit its credit exposures to its clearing members, a CCP shall maintain a default fund to cover losses that exceed the losses to be covered by margin requirements as referred to in Article 39, arising from the default, including the opening of an insolvency procedure, of one or more clearing members.
CCP določi najnižji znesek prispevkov v jamstveni sklad in merila za izračun prispevkov za posameznega klirinškega člana.
A CCP shall establish the minimum size of contributions to the default fund and the criteria to calculate the contributions of the single clearing members.
Prispevki so sorazmerni z izpostavljenostjo posameznega klirinškega člana, da se s prispevki v jamstveni sklad CCP omogoči vsaj to, da lahko ta vzdrži neplačila dveh klirinških članov , do katerih ima največjo izpostavljenost.
The contributions shall be proportional to the exposures of each clearing member, in order to ensure that the contributions to the default fund at least enable the CCP to withstand the default of the two clearing member s to which it has the largest exposures.
CCP pripravi scenarije takšnih skrajnih, vendar možnih tržnih pogojev.
A CCP shall develop scenarios of extreme but plausible market conditions.
Ti scenariji vključujejo najbolj nestanovitna obdobja, ki so jih doživeli trgi, za katere CCP opravlja storitve, ter vrsto možnih scenarijev v prihodnosti.
The scenarios shall include the most volatile periods that have been experienced by the markets for which the CCP provides its services and a range of potential future scenarios.
Upoštevajo nenadno prodajo finančnih sredstev in hitro zmanjšanje tržne likvidnosti.
They shall take into account sudden sales of financial resources and rapid reductions in market liquidity.
Velikost jamstvenega sklada zajema izračunana kritja v skladu s členom 39 za pozicije, ki izhajajo iz predvidenih scenarijev.
The size of the default fund shall include the margins calculated, in compliance with Article 39, on the positions stemming from the hypothesised scenarios.
CCP pri izračunu kreditne izpostavljenosti do svojih klirinških članov upošteva:
In calculating credit exposures to its clearing members, a CCP shall take into account:
(a) izpostavljenost vsakega posameznega klirinškega člana, zabeleženo v posameznih računih, vodenih v skladu s členom 37, in
( a) the exposures of each clearing member, as registered on each account kept in accordance with A rticle 37 ; and
(b) ali je mogoče dobiček od lastniških pozicij uporabiti za kritje izgub na pozicijah strank.
( b) whether or not profits on proprietary positions can be used to cover losses on clients’ positions.
CCP lahko ustanovi več jamstvenih skladov za različne razrede instrumentov, pri katerih izvaja kliring.
A CCP may establish more than one default fund for the different classes of instruments it clears.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA po posvetovanju z organom EBA oblikuje osnutek regulativnih tehničnih standardov, s katerimi podrobno opredeli jamstvene sklade iz odstavkov 1 in 3.
In order to ensure consistent harmonisation of this Article, ESMA shall , in consultation with EBA, develop draft regulatory technical standards specifying the details of default funds referred to in paragraphs 1 and 3.
Organ ESMA v tesnem sodelovanju z odborom ESCB Komisiji do 30. junija 2012 predloži osnutek navedenih regulativnih tehničnih standardov.
ESMA shall, in close cooperation with the ESCB, submit drafts for those regulatory technical standards to the Commission by 30 June 2012.
Komisija je pooblaščena za sprejetje regulativnih tehničnih standardov iz prvega pododstavka v skladu s členi od 10 do 14 Uredbe (EU) št. 1095/2010.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
Druge kontrole tveganja
Other risk controls
Poleg kapitala, zahtevanega v členu 12, CCP zagotovi, da ima dovolj razpoložljivih finančnih sredstev za kritje morebitnih izgub, ki presegajo izgube, ki se krijejo z zahtevanimi kritji in iz jamstvenega sklada.
In addition to the capital required in Article 12, a CCP shall maintain sufficient available financial resources to cover potential losses that exceed the losses to be covered by margin requirements and the default fund.
Ta sredstva lahko vključujejo katere koli druge klirinške sklade, ki jih zagotovijo klirinški člani ali druge stranke, dogovore o delitvi izgube, ureditev zavarovanja, lastna sredstva CCP, jamstva nadrejenega podjetja ali podobna kritja.
Such resources may include any other clearing fund provided by clearing members or other parties, loss sharing arrangements, insurance arrangements, the own funds of a CCP, parental guarantees or similar provisions.
Ta sredstva so CCP prosto na voljo in se ne smejo uporabiti za kritje izgub iz poslovanja.
Such resources shall be freely available to the CCP and shall not be used to cover the operating losses.
2. ▌ Jamstveni sklad iz člena 40 in druga finančna sredstva iz odstavka 1 morajo CCP kadar koli omogočiti, da prenesejo morebitne izgube v skrajnih, vendar možnih tržnih pogojih.
2. ▌ The default fund referred to in Article 40 and the other financial resources referred to in paragraph 1 shall at all times enable the CCP to withstand potential losses in extreme but plausible market conditions.
CCP pripravi scenarije takšnih skrajnih, vendar možnih tržnih pogojev.
A CCP shall develop scenarios of such extreme but plausible market conditions.
V ta namen pridobi potrebne kreditne linije ali podobne možnosti za kritje svojih likvidnostnih potreb, če finančna sredstva, ki jih ima na voljo, niso takoj na razpolago.
To that end, a CCP shall obtain the necessary credit lines or similar arrangements to cover its liquidity needs in case the financial resources at its disposal are not immediately available.
Posamezen klirinški član, nadrejeno ali podrejeno podjetje klirinškega člana ne sme zagotavljati več kot 25 % kreditnih linij, ki jih potrebuje CCP.
Each clearing member, parent undertaking or subsidiary of the clearing member may not provide more than 25 % of the credit lines needed by the CCP.
CCP lahko od klirinških članov, ki niso v zaostanku z izpolnjevanjem obveznosti, zahteva zagotovitev dodatnih sredstev v primeru neplačila drugega klirinškega člana.
A CCP may require non-defaulting clearing members to provide additional funds in the event of a default of another clearing member.
Klirinški člani CCP imajo omejene izpostavljenosti do CCP.
The clearing members of a CCP shall have limited exposures toward the CCP.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA po posvetovanju z organom EBA oblikuje osnutek regulativnih tehničnih standardov, ki določajo skrajne razmere iz odstavka 2, ki jih mora CCP vzdržati.
In order to ensure consistent harmonisation of this Article, ESMA shall , in consultation with EBA, develop draft regulatory technical standards specifying the extreme conditions referred to in paragraph 2 that the CCP shall withstand.
Kaskadni pristop k neplačilom
Default waterfall
CCP za pokritje izgub uporabi kritja, nakazana s strani klirinškega člana, ki je v zaostanku s plačili, preden uporabi druga finančna sredstva.
A CCP shall use the margins posted by a defaulting clearing member prior to other financial resources in covering losses.
Kadar kritja, nakazana s strani klirinškega člana, ki je v zaostanku s plačili, ne zadostujejo za pokritje izgub, ki bremenijo CCP, ta za pokritje teh izgub uporabi v jamstveni sklad vplačani prispevek člana, ki je v zaostanku s plačili.
Where the margins posted by the defaulting clearing member are not sufficient to cover the losses incurred by the CCP, the CCP shall use the default fund contribution of the defaulting member to cover these losses.
CCP uporabi prispevke iz jamstvenega sklada in druge prispevke klirinških članov, ki niso v zaostanku s plačili, šele potem, ko izčrpa prispevke članov, ki so v zaostanku s plačili, in ▌lastna sredstva iz člena 41(1).
A CCP shall use contributions to the default fund and other contributions of non-defaulting clearing members only after having exhausted the contributions of the defaulting clearing member and ▌ the CCP's own funds referred to in Article 41(1).
CCP ne sme uporabiti kritij, nakazanih s strani klirinških članov, ki niso v zaostanku s plačili, za pokrivanje izgub, nastalih zaradi neplačila drugega klirinškega člana.
A CCP shall not be allowed to use the margins posted by non-defaulting clearing members to cover the losses resulting from the default of another clearing member.
Zahteve glede zavarovanja s premoženjem
Collateral requirements
CCP za kritje začetne in nadaljnje izpostavljenosti do svojih klirinških članov sprejme visoko likvidno zavarovanje , na primer denarna sredstva, zlato, državne in visoko kakovostne podjetniške obveznice, z minimalnim kreditnim in tržnim tveganjem.
A CCP shall accept highly liquid collateral , such as cash, gold, government and high - quality corporate bonds, with minimal credit and market risk to cover its initial and ongoing exposure to its clearing members.
CCP lahko za nefinančne nasprotne stranke sprejmejo bančne garancije, pri čemer upoštevajo garancije z izpostavljenostjo do banke, ki je klirinški član.
For non-financial counterparties, CCPs may accept bank guarantees taking into account such guarantees in exposure to a bank that is a clearing member.
Za vrednosti sredstev uporablja ustrezne odbitke, ki odražajo možnost, da se njihova vrednost zmanjša v obdobju med zadnjim prevrednotenjem in časom verjetne likvidacije.
It shall apply adequate haircuts to asset values that reflect the potential for their value to decline over the interval between their last revaluation and the time by which they can reasonably be assumed to be liquidated.
Pri določanju sprejemljivega zavarovanja in ustreznih odbitkov CCP upošteva likvidnostno tveganje zaradi neizpolnjevanja obveznosti udeleženca na trgu in tveganje koncentracije pri določenih sredstvih.
It shall take into account the liquidity risk following the default of a market participant and the concentration risk on certain assets that may result in establishing the acceptable collateral and the relevant haircuts.
Ti minimalni standardi se določijo v skladu s stopnjo tveganja in se redno spreminjajo, da odražajo tržne razmere, zlasti v izrednih razmerah, ko se ocenjuje, da se bodo s tem ublažilo sistemsko tveganje.
These minimum standards shall be calibrated in accordance with the risk level and shall be regularly revised to reflect market conditions and in particular in response to emergency situations where it is concluded that doing so will mitigate systemic risk.
CCP lahko, kadar je to primerno in dovolj preudarno, kot zavarovanje za pokritje zahtev po kritju sprejme osnovno finančno sredstvo izvedenega finančnega instrumenta ali finančni instrument, iz katerega izhaja izpostavljenost CCP.
A CCP may accept, where appropriate and sufficiently prudent, the underlying of the derivative contract or the financial instrument that originate the CCP exposure as collateral to cover its margin requirements.
Da se zagotovi dosledna usklajenost tega člena, organ ESMA po posvetovanju z ESRB in organom EBA oblikuje osnutek regulativnih tehničnih standardov, ki določajo vrsto zavarovanja, ki se lahko šteje za visoko likvidno, in odbitke iz odstavka 1.
In order to ensure consistent harmonisation of this Article, ESMA, in consultation with the ESRB and EBA, develop draft regulatory technical standards specifying the type of collateral that can be considered highly liquid and the haircuts referred to in paragraph 1.
Organ ESMA po posvetovanju z ESCB in organom EBA Komisiji do 30. junija 2012 predloži osnutek navedenih regulativnih tehničnih standardov.
ESMA shall , in consultation with the ESCB and EBA, submit drafts on those regulatory technical standards to the Commission by 30 June 2012.
CCP svoja finančna sredstva vlaga samo v visoko likvidne finančne instrumente z minimalnim tržnim in kreditnim tveganjem , na primer v rezerve pri centralni banki EU .
A CCP shall only invest its financial resources in highly liquid financial instruments with minimal market and credit risk for example in reserves with an EU central bank .
Naložbe so takšne, da jih je mogoče hitro likvidirati z minimalnim negativnim cenovnim učinkom.
The investments shall be capable of being liquidated rapidly with minimal adverse price effect.
Kapital, dobiček in rezerve CCP, ki se ne vlagajo v skladu z odstavkom 1, se ne upoštevajo za namene člena 12(2).
The amount of capital, together with the earnings and reserves of a CCP which are not invested in accordance with paragraph 1 , shall not be considered for the purposes of Article 12(2).
Finančni instrumenti, uporabljeni kot kritja, se deponirajo pri upravljavcih sistemov poravnave vrednostnih papirjev, ki CCP zagotavljajo nediskriminatoren dostop in popolno zaščito teh instrumentov.
Financial instruments posted as margins shall be deposited with operators of securities settlement systems that ensure non-discriminatory access to CCPs and the full protection of those instruments.
CCP ima na zahtevo takojšen dostop do finančnih instrumentov.
A CCP shall have prompt access to the financial instruments when required.
CCP imajo močan nadzor nad ponovnim zajamčenjem zavarovanja klirinških članov, kar pregleda organ ESMA.
CCPs shall have robust controls over the re-hypothecation of clearing members' collateral , subject to review by ESMA.
CCP svojega kapitala ali zneskov, ki izhajajo iz zahtev, navedenih v členih 39, 40 in 41, ne vlaga v svoje vrednostne papirje ali vrednostne papirje svojega nadrejenega ali podrejenega podjetja.
A CCP shall not invest its capital or the sums arising from the requirements referred to in Articles 39, 40 and 41 in its own securities or those of its parent or subsidiary undertaking.