natgillin/translations-raw huggingface dataset:
Pristojni organ ali kateri koli drugi organ takoj obvesti evropski nadzorni organ ( ESMA ) , kolegij in druge zadevne organe o vseh morebitnih ali dejanskih izrednih razmerah, povezanih s CCP, vključno z dogajanjem na finančnih trgih, ki bi lahko imeli negativen učinek na likvidnost trga in na stabilnost finančnega sistema v kateri koli državi članici, v kateri ima sedež CCP ali kateri izmed njenih klirinških članov.
The competent authority or any other authority shall inform ESA (ESMA) , the college and other relevant authorities without undue delay of any potential or actual emergency situation relating to a CCP, including developments in financial markets, which may have an adverse effect on market liquidity and the stability of the financial system in any of the Member States where the CCP or one of its clearing members are established.
CCP sprejme za kritje izpostavljenosti do svojih klirinških članov le visoko likvidno zavarovanje z minimalnim kreditnim in tržnim tveganjem.
A CCP shall only accept highly liquid collateral with minimal credit and market risk to cover its exposure to its clearing members.
Za nefinančne nasprotne stranke se lahko kot zavarovanje po potrebi sprejmejo bančne garancije ali enakovredno premoženje.
Regarding non-financial counter-parties, bank guarantees or equivalent assets may where appropriate be accepted as collateral.
CCP za vrednosti sredstev uporablja ustrezne odbitke, ki odražajo možnost, da se njihova vrednost zmanjša v obdobju med zadnjim prevrednotenjem in časom verjetne likvidacije.
The CCP 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.
Repozitorij sklenjenih poslov objavi v zvezi s pogodbami, ki so mu bile sporočene, skupne pozicije po razredu izvedenih finančnih instrumentov.
A trade repository shall publish aggregate positions by class of derivatives on the contracts reported to it .
Repozitorij sklenjenih poslov v zvezi s pogodbami, ki so mu bile sporočene, v rednih presledkih in na lahko dostopen način objavi skupne pozicije po razredu izvedenih finančnih instrumentov.
A trade repository shall , at regular intervals and in an easily accessible way, publish aggregate positions by class of derivatives on the contracts reported to it
Člen 68 – odstavek 1 – pododstavek 2
Article 68 – paragraph 1 – subparagraph 2
Komisija v sodelovanju z evropskim nadzornim organom ( ESMA ) in zadevnimi sektorskimi organi do istega datuma oceni sistemski pomen transakcij nefinančnih podjetij z izvedenimi finančnimi instrumenti OTC ter Evropskemu parlamentu in Svetu pošlje poročilo skupaj s predlogi o nadaljnji ustreznosti obveznosti kliringa ali o njenih spremembah po členu 7 za nefinančna podjetja .
By the same date, the Commission shall, in coordination with ESA (ESMA) and the relevant sectoral authorities, assess the systemic importance of the transactions of non-financial firms in OTC derivatives and shall submit a report to the European Parliament and the Council, together with any proposals on the continued appropriateness of or amendments to the clearing obligation under Article 7 for non-financial firms .
Ivajlo Kalfin
Ivailo Kalfin
o predlogu uredbe Evropskega parlamenta in Sveta o izvedenih finančnih instrumentih OTC, centralnih nasprotnih strankah in repozitorjih sklenjenih poslov
on the proposal for a regulation of the European Parliament and of the Council on OTC derivatives, central counterparts and trade repositories
Finančna kriza je zbudila skrbi v zvezi z odpornostjo in preglednostjo trga z zunajborznimi izvedenimi finančnimi instrumenti (OTC).
The financial crisis raised concerns regarding the resilience and transparency of the over-the-counter (OTC) derivatives market.
Skupina G20 je sklenila, da:
The G20 agreed that:
Ta uredba določa pogoje za izdajo dovoljenj centralnim nasprotnim strankam (CCP), pregled meril za zagotovitev ustreznih lastnosti centralnega kliringa ter uvaja poročanje o izvedenih finančnih instrumentih OTC v repozitorije sklenjenih poslov, kjer je zbrane informacije med drugim mogoče uporabiti za analizo sistemskega tveganja.
This regulation sets out the conditions for authorising Central Counterparties (CCPs), the criteria to examine to ensure appropriate characteristics for central clearing, and the reporting of derivatives to trade repositories where the aggregate information can be used inter alia for analysis of systemic risk.
Centralni kliring lahko sam po sebi povzroči sistemsko tveganje, če ni ustrezno izveden, zato morajo imeti CCP zanesljive strategije obvladovanja tveganja in strategije upravljanja v primeru neizpolnjevanja obveznosti, ki ne bodo izpostavljale davkoplačevalcev.
Central clearing can itself pose systemic risks unless introduced appropriately, so CCPs must have robust risk and default management strategies that do not put taxpayers in the front line.
Pri tem je pomembno ohranjanje raznolikega in konkurenčnega trga, zato je treba zagotoviti pregledno določanje cen in se izogibati zavezujočim dogovorom.
Maintaining a diverse and competitive market plays its part in this for which pricing should be transparent and tying arrangements avoided.
Poleg spodbujanja odpornosti in preglednosti trgov z izvedenimi instrumenti je treba z regulacijo ohranjati tudi njihovo učinkovitost, da bi zaščitili finančne ali nefinančne končne uporabnike.
While promoting the resilience and transparency of derivatives markets, regulation must equally maintain the efficiency of these markets for hedging by end-users – be they financial or non-financial.
Ohranjanje mednarodne narave tega trga spodbuja oba cilja, če je podprto še s sodelovanjem med nadzorniki in z usklajenimi mednarodnimi standardi.
Maintaining the international nature of this market promotes both these objectives when underpinned by cooperation between supervisors and convergent international standards.
Centralne nasprotne stranke v večini držav članic urejajo regulatorji varnega poslovanja bank, na evropski ravni pa bo to vlogo imel Evropski bančni organ (EBA), ki ima obsežno strokovno znanje, zato bi morala Evropski organ za vrednostne papirje in trge (ESMA) in EBA tesno sodelovati.
CCPs are regulated by bank prudential regulators in most Member States and at the European level it will be EBA that has much of the expertise, so it is essential that ESMA and EBA work closely together.
Evropski nadzorni organi bodo o primernosti za kliring odločali v skladu s pragmatičnim pristopom k sodbi v zadevi Meroni.
These ESAs will have to make decisions about suitability for clearing following a pragmatic approach to the Meroni judgement.
Posledično je treba pri ugotavljanju, ali naj za določeno nefinančno nasprotno stranko velja obveznost kliringa, upoštevati namen, s katerim nefinančna nasprotna stranka uporablja izvedene finančne instrumente OTC, in obseg izpostavljenosti pri teh instrumentih.
Consequently , in determining whether a non-financial counterparty should be subject to the clearing obligation, consideration should be given to the purpose for which that non-financial counterparty uses OTC derivatives and to the size of the exposures that it has in those instruments.
Eden od načinov preverjanja, ali nefinančna nasprotna stranka uporablja pogodbe OTC, da bi se zaščitila pred poslovnim tveganjem, ki je neposredno povezano z njenimi poslovnimi dejavnostmi, bi lahko bil prek njene letne revizije.
One means of assessing whether a non-financial counterparty is using OTC contracts to cover themselves against commercial risks directly linked to their commercial activities could be through their annual audit.
(22) Pomembno je, da udeleženci na trgu o vseh podrobnostih v zvezi s pogodbami o izvedenih finančnih instrumentih OTC, ki so jih sklenili, poročajo v repozitorije sklenjenih poslov .
(22) It is important that market participants report all details regarding OTC derivative contracts they have entered into to trade repositories.
Posledično se informacije o inherentnih tveganjih trgov izvedenih finančnih instrumentov OTC centralno shranijo in so zlahka dostopne organu ESMA, ustreznim pristojnim organom in ustreznim centralnim bankam ESCB.
As a result, information on the risks inherent in OTC derivatives markets will be centrally stored and easily accessible to ESMA, the relevant competent authorities and the relevant central banks of the ESCB.
(22) Treba je razmisliti o možnosti naknadnega poročanja v repozitorij odprtih pogodb .
(22) Retrospective reporting to a repository of outstanding contracts should be considered.
(23) Da bi omogočili celosten pregled trga, je treba v repozitorije sklenjenih poslov poročati o pogodbah, pri katerih je bil opravljen kliring, in o pogodbah, pri katerih kliring ni bil opravljen.
(23) In order to allow for a comprehensive overview of the market, both cleared and non-cleared contracts should be reported to trade repositories.
(23) Da bi omogočili celosten pregled trga in za namene ocenjevanja sistemskega tveganja , je treba v repozitorije sklenjenih poslov poročati o pogodbah, pri katerih je bil opravljen kliring, in o pogodbah, pri katerih kliring ni bil opravljen.
(23) In order to allow for a comprehensive overview of the market and for the purposes of assessing systemic risk , both cleared and non-cleared contracts should be reported to trade repositories.
Strategije CCP za upravljanje v primeru neizpolnjevanja obveznosti naj bodo zanesljive in naj ne prenašajo tveganja na davkoplačevalce.
The default management strategies of CCPs should be sound and should not transfer risk to the taxpayer.
Predvsem ureditev glede likvidnosti, bodisi prek komercialne ali centralne banke, naj ne nadomesti lastnih strategij za obvladovanje likvidnostnega tveganja.
In particular, liquidity arrangements, whether through commercial or central banks, should not be a substitute for their own liquidity risk mitigation strategies.
Glede na dejstvo, da nadzor nad repozitoriji sklenjenih poslov nima fiskalnih posledic in da bodo številni organi v državah članicah potrebovali dostop do podatkov, ki jih vsebujejo repozitoriji sklenjenih poslov, mora organ ESMA prevzeti odgovornost za registracijo repozitorijev sklenjenih poslov, razveljavitev njihove registracije in nadzor nad njimi.
In view of the fact that surveillance of trade repositories does not have any fiscal implications and that many authorities across Member States will need access to the data maintained by trade repositories, ESMA should assume responsibility for the registration, withdrawal and surveillance of trade repositories.
(43) Repozitoriji sklenjenih poslov naj bodo zmožni zbrati podatke le za regulativne namene, pomembne za pristojne organe v vseh državah članicah , in naj jih ne objavljajo in/ali jih drugače dajo na razpolago ali jih uporabijo, razen za namene te uredbe .
(43) Trade repositories should be able to collect data only for regulatory purposes that are relevant to competent authorities in all Member States , and should not publish and/or otherwise make available or make use of such data, other than for the purposes of this Regulation .
Repozitoriji sklenjenih poslov in drugi organi, ki dostopajo do podatkov v skladu z določbami enotnega sistema računalniškega upravljanja, ne bi smeli imeti možnosti izkoriščanja privilegiranega položaja za vstop na komercialni trg in za zagotavljanje storitev oblikovanja cen.
Trade repositories, and other bodies that access data under EMIR’s provisions, should not be able to exploit their privileged positions in order to enter a commercial marketplace and provide price discovery services.
(45a) V sektorju finančnih storitev in trgovanja s pogodbami o izvedenih finančnih instrumentih so področja, kjer lahko obstajajo tudi trgovinske pravice in pravice intelektualne lastnine.
(45a) There are areas within the sector of financial services and trading of derivative contracts where commercial and intellectual property rights may also exist.
V primeru, da so te pravice povezane s proizvodi, ki se uporabljajo kot industrijski standard ali ki nanj vplivajo, je treba zahtevati, da bodo ta dovoljenja na voljo pod sorazmernimi ter pravičnimi, sprejemljivimi in nediskriminacijskimi pogoji (FRAND).
In instances where such rights relate to products which have become used as, or which impact on, an industry standard, there should be a requirement for such licences to be made available on proportionate terms which comply with the 'FRAND' (fair, reasonable and non-discriminatory) principle.
Pravična, sprejemljiva in nediskriminacijska dovoljenja so za druge industrijske standarde običajna.
Fair, Reasonable and Non-Discriminatory (FRAND) licences are normal for other industry standards.
Če je potrebno le delno dovoljenje, je treba zagotoviti sorazmernost, na primer za manjše trge ali za nove udeležence.
Should only a partial licence be required, proportionality should be observed e.g. for smaller market or new participants.
Ta uredba velja za centralne nasprotne stranke, finančne nasprotne stranke in repozitorije sklenjenih poslov.
This Regulation shall apply to central counterparties, financial counterparties and to trade repositories.
Za nefinančne nasprotne stranke in za evropske podružnice podjetij, ustanovljenih v tretji državi, velja, kadar je to predvideno.
It shall apply to non-financial counterparties and to branches in the Union of undertakings established in a third country, where so provided.
(a) člane Evropskega sistema centralnih bank in druge nacionalne organe, ki opravljajo podobne funkcije, ter druge javne organe, ki so zadolženi za upravljanje javnega dolga ali ki posredujejo pri upravljanju javnega dolga;
(a) the Members of the European System of Central Banks and other national bodies performing similar functions and other public bodies charged with or intervening in the management of the public debt;
(a) člane Evropskega sistema centralnih bank in druge nacionalne organe v Uniji in EGP , ki opravljajo podobne funkcije, ter druge javne organe v Uniji in EGP , ki so zadolženi za upravljanje javnega dolga ali ki posredujejo pri upravljanju javnega dolga;
(a) the Members of the European System of Central Banks and other Union and EEA national bodies performing similar functions and other Union and EEA public bodies charged with or intervening in the management of the public debt;
(1) „centralna nasprotna stranka (CCP)“ je subjekt, ki pravno posreduje med nasprotnimi strankami v pogodbah, s katerimi se trguje na enem ali več finančnih trgih, ter postane kupec za vsakega prodajalca in prodajalec za vsakega kupca ter je odgovorna za delovanje sistema kliringa;
(1) 'central counterparty (CCP)' means an entity that legally interposes itself between the counterparties to the contracts traded within one or more financial markets, becoming the buyer to every seller and the seller to every buyer and which is responsible for the operation of a clearing system;
(1) „centralna nasprotna stranka (CCP)“ je subjekt, ki pravno posreduje med nasprotnimi strankami v pogodbah, s katerimi se trguje na enem ali več finančnih trgih, ter postane kupec za vsakega prodajalca in prodajalec za vsakega kupca za pogodbe, za katere opravi kliring, ter je odgovorna za delovanje sistema kliringa;
(1) 'central counterparty (CCP)' means an entity that legally interposes itself between the counterparties to the contracts traded within one or more financial markets, becoming the buyer to every seller and the seller to every buyer for the contracts it clears and which is responsible for the operation of a clearing system;
(2) „repozitorij sklenjenih poslov“ je subjekt, ki centralno zbira in vzdržuje evidence o izvedenih finančnih instrumentih OTC;
(2) 'trade repository' means an entity that centrally collects and maintains the records of OTC derivatives;
(2) „repozitorij sklenjenih poslov“ je subjekt, ki je registriran ter centralno zbira in vzdržuje evidence o izvedenih finančnih instrumentih OTC za regulativne namene iz te uredbe in v skladu z njo ;
(2) 'trade repository' means an entity that is registered and centrally collects and maintains the records of OTC derivatives for regulatory purposes under and in accordance with this Regulation ;
Zakonodajne določbe o repozitorijih sklenjenih poslov bi morale veljati le za organizacije, ki so posebej registrirane kot repozitorij sklenjenih poslov v skladu s členom 51.
The legislative provisions around trade repositories should only apply to any organisation specifically registered as a trade repository in accordance with Article 51.
(4) „razred izvedenih finančnih instrumentov“ je število pogodb o izvedenih finančnih instrumentih OTC, ki imajo enake bistvene značilnosti;
(4) 'class of derivatives' means a number of OTC derivative contracts that share common, essential characteristics;
(4) „razred izvedenih finančnih instrumentov“ je število pogodb o izvedenih finančnih instrumentih OTC, ki imajo zadosti enakih bistvenih značilnosti , da se vedejo enako ;
(4) 'class of derivatives' means a number of OTC derivative contracts that share sufficient common, essential characteristics to behave in the same way ;
Vedenje je pomembno merilo, ki ni nujno odvisno le od bistvenih lastnosti.
Behaviour is the important criterion, which may not depend solely on essential characteristics.
(5) „izvedeni finančni instrumenti, s katerimi se trguje na prostem trgu (OTC)“, so pogodbe o izvedenih finančnih instrumentih, s katerimi se ne trguje na reguliranem trgu ali v večstranskem sistemu trgovanja , kot je opredeljeno v točki 14 člena 4(1) Direktive 2004/39/ES ali v sistemu trgovanja v tretji državi, ki opravlja podobno funkcijo ;
(5) 'over the counter (OTC) derivatives' means derivative contracts whose execution does not take place on a regulated market or multilateral trading facility as defined by Article 4 (1) point 14 and 15 of Directive 2004/39/EC or a third country trading facility that performs a similar function ;
Sporočilo skupine G20 omenja elektronski kliring in ne reguliranih trgov, zato je treba vključiti večstranske sisteme poslovanja.
The G20 communiqué referred to 'electronic clearing' rather than 'regulated markets', so it is necessary to include a reference to multilateral trading facilities.
Treba je omeniti tudi sisteme trgovanja v tretjih državah.
There must also be a reference to third country facilities.
(6) „finančna nasprotna stranka“ so investicijska podjetja, kot so opredeljena v Direktivi 2004/39/ES, kreditne institucije, kot so opredeljene v Direktivi 2006/48/ES, zavarovalnice, kot so opredeljene v Direktivi 73/239/EGS, zavarovalnice, kot so opredeljene v Direktivi 2002/83/ES, pozavarovalnice, kot so opredeljene v Direktivi 2005/68/ES, kolektivni naložbeni podjemi za vlaganja v prenosljive vrednostne papirje (KNPVP), kot so opredeljeni v Direktivi 2009/65/ES, institucije za poklicno pokojninsko zavarovanje, kot so opredeljene v Direktivi 2003/41/ES, in upravitelji alternativnih investicijskih skladov, kot so opredeljeni v Direktivi 2010/.../EU;
(6) 'financial counterparty' means investment firms as set out in Directive 2004/39/EC, credit institutions as defined in Directive 2006/48/EC, insurance undertakings as defined in Directive 73/239/EEC, assurance undertakings as defined in Directive 2002/83/EC, reinsurance undertakings as defined in Directive 2005/68/EC, undertakings for collective investments in transferable securities (UCITS) as defined in Directive 2009/65/EC, institutions for occupational retirement provision as defined in Directive 2003/41/EC and alternative investment funds managers as defined in Directive 2010/.../EU;
(6) „finančna nasprotna stranka“ so investicijska podjetja, kot so odobrena na podlagi Direktive 2004/39/ES, kreditne institucije, kot so odobrene na podlagi Direktive 2006/48/ES, zavarovalnice, kot so odobrene na podlagi Direktive 73/239/EGS, zavarovalnice, kot so odobrene na podlagi Direktive 2002/83/ES, pozavarovalnice, kot so odobrene na podlagi Direktive 2005/68/ES, kolektivni naložbeni podjemi za vlaganja v prenosljive vrednostne papirje (KNPVP), kot so odobreni na podlagi Direktive 2009/65/ES, institucije za poklicno pokojninsko zavarovanje, kot so opredeljene v Direktivi 2003/41/ES, in upravitelji alternativnih investicijskih skladov, kot so odobreni na podlagi Direktive 2010/.../EU , in evropske podružnice podjetij, ustanovljenih zunaj Unije, ki bi morala biti morala biti odobrena na ta način, če bi bila v Uniji, razen naložbenih skladov, katerih edina naložbena politika je pridobivanje nepremičnin in vlaganje vanje (neposredno ali prek odvisnih podjetij, solastništva ali prek skupnih podjetij) ;
(6) 'financial counterparty' means investment firms authorised under Directive 2004/39/EC, credit institutions authorised under Directive 2006/48/EC, insurance undertakings authorised under Directive 73/239/EEC, assurance undertakings authorised under Directive 2002/83/EC, reinsurance undertakings authorised under Directive 2005/68/EC, undertakings for collective investments in transferable securities (UCITS) authorised under Directive 2009/65/EC, institutions for occupational retirement provision as defined in Directive 2003/41/EC and alternative investment funds managers authorised under Directive 2010/.../EU and to branches in the Union of undertakings established outside the Union that would require to be so authorised if they were within the Union, other than an investment fund whose sole investment policy is to develop or invest in physical real estate (directly or through its subsidiary entities, co-ownership or joint venture participations) ;
Finančne institucije, ki so izvzete v skladu z ustreznimi sektorskimi direktivami, ne bi smele biti vključene v področje te uredbe.
Financial institutions which are exempted under the relevant sectoral directives should not be included within the scope of this Regulation.
Obveznost kliringa velja tudi za finančne nasprotne stranke in nefinančne nasprotne stranke iz člena 7(2), ki sklenejo primerne pogodbe o izvedenih finančnih instrumentih OTC s subjekti v tretjih državah , za katere bi veljale obveznosti kliringa, če bi bili ustanovljeni v Uniji .
That clearing obligation shall also apply to financial counterparties and to the non-financial counterparties referred to in Article 7(2) which enter into eligible OTC derivative contracts with third country entities that would be subject to the clearing obligation if they were established in the Union .
Obveznosti kliringa iz odstavka 1 ne veljajo za pogodbe z izvedenimi finančnimi instrumenti OTC, ki jih sklenejo finančne nasprotne stranke ali nefinančne nasprotne stranke iz člena 7(2) z organom, za katerega ne velja ta uredba, ali za tiste pogodbe z izvedenimi finančnimi instrumenti OTC, ki so sklenjene z matičnim podjetjem, z odvisnim podjetjem ali z drugim odvisnim podjetjem svojega matičnega podjetja.
The clearing obligation under paragraph 1 shall not apply to OTC derivative contracts concluded by a financial counterparty or a non-financial counterparty referred to in Article 7(2) with either a body to which this Regulation does not apply, or to those OTC derivative contracts concluded with a parent undertaking, subsidiary, or another subsidiary of its parent undertaking.
Vendar se za zagotovitev stabilnosti skupine zagotovi zanesljiva dvostranska ureditev.
Nevertheless there shall be robust bilateral arrangements on such derivative contracts so as to ensure group stability.
V številnih primerih lahko tveganje obvlada ali nadzira eno podjetje v skupini, tudi če tvega drugo podjetje v skupini.
In many cases risks may be hedged or managed by one company in a group even when the risks belong to another company in the group.
Predlog spremembe izključuje dogovore znotraj skupine.
This excludes these intra-group arrangements.
(a) ali je razred izvedenih finančnih instrumentov primeren za obveznost kliringa v skladu s členom 3 in v tem primeru ;
(a) whether that class of derivatives is eligible for the clearing obligation pursuant to Article 3 , and if so eligible ;
(b) datum, s katerim začne veljati obveznost kliringa.
(b) the date from which the clearing obligation takes effect .