natgillin/translations-raw huggingface dataset:
glede električne energije so podobni instrumenti, če se pravice in obveznosti dobave po njih nanašajo na isti interval konice porabe ali interval manjše porabe v katerem koli 24-urnem obdobju; in
for electric power, similar instruments are those delivery rights and obligations that refer to the same peak or off-peak load time interval within any 24-hour interval; and
za blago so podobni instrumenti, če so iste vrste blaga.
for commodities, similar instruments are those of the same commodity.
Indeks na blago se obravnava kot posebno blago.
A commodity index is treated as a separate commodity.
TABELA 5:
Table 5
Kategorije nizov varovanj
Hedging set categories
Obrestne mere
Interest Rates
Obrestne mere za tveganost pozicij za dolžniški instrument ali referenčni dolžniški instrument, za katerega se na podlagi tabele 1 v Prilogi I Direktive 2006/.../ES
Interest Rates for risk positions from a debt instrument or reference debt instrument to which a capital charge of more than 1.60% applies under Table 1 of Annex I to Directive 2006/.../EC
Menjalni tečaji
Exchange Rates
Električna energija
Electric Power
Plemenite kovine (razen zlata)
Precious Metals (except gold)
Drugo blago (razen plemenitih kovin in električne energije)
Other Commodities (excluding precious metals and electricity power)
Za posle z nelinearnim profilom tveganja ali za plačilne strani in posle, v katerih so osnovni instrumenti dolžniški instrumenti, za katere kreditna institucija ne more ugotoviti delte oziroma modificiranega trajanja z modelom, ki ga je odobril pristojni organ za namene določanja minimalnih kapitalskih zahtev za tržno tveganje, pristojni organ konzervativno določi velikost tveganosti pozicij in CCRM, ki se uporablja.
For transactions with a non-linear risk profile or for payment legs and transactions with debt instruments as underlying for which the credit institution cannot determine the delta or the modified duration, respectively, with an instrument model that the competent authority has approved for the purposes of determining the minimum capital requirements for market risk, the competent authority shall determine the size of the risk positions and the applicable CCRMjs conservatively.
Vendar pa lahko pristojni organi zahtevajo uporabo metode, navedene v delu 3.
Alternatively, competent authorities may require the use of the method set out in Part 3.
Pobot se ne priznava: to pomeni, da se vrednost izpostavljenosti določi, kot da obstaja niz pobotov, ki vsebuje samo posamezen posel.
Netting shall not be recognised (that is, the exposure value shall be determined as if there were a netting set that comprises just the individual transaction).
Kreditna institucija ima vzpostavljene ustrezne postopke za preverjanje, da je transakcija pred vključitvijo v niz varovanj vključena v prisilno izvršljiv dvostranski dogovor o pobotu, ki izpolnjuje zahteve, navedene v delu 7.
A credit institution shall have internal procedures to verify that, prior to including a transaction in a hedging set, the transaction is covered by a legally enforceable netting contract that meets the requirements set out in Part 7.
Del 6: Metoda notranjih modelov
Part 6: Internal Model Method
Vsak od teh primerov lahko vključuje tudi posle iz odstavka 2(v) dela 2.
In each of these cases the transactions in Part 2, point 2(v) may be included as well.
Kreditne institucije se lahko odločijo, da ne bodo uporabljale te metode za izpostavljenosti, ki so materialno nepomembne po velikosti in tveganju.
Notwithstanding Part 2, point 1, second paragraph, credit institutions may choose not to apply this method to exposures that are immaterial in size and risk.
Za uporabo IMM kreditna institucija mora izpolnjevati navedene zahteve iz tega dela.
To apply the IMM, a credit institution shall meet the requirements set out in this Part.
Ob upoštevanju, da se odobravanje pristojnih organov za uporabo IMM lahko izvaja postopoma po različnih vrstah poslov, lahko v tem času kreditna institucija uporablja metode iz dela 3 ali dela 5.
Subject to the approval of the competent authorities, implementation of the IMM may be carried out sequentially across different transaction types, and during this period a credit institution may use the methods set out in Part 3 or Part 5.
Ne glede na ostanek tega dela se od kreditnih institucij ne zahteva uporaba posebnega tipa modela.
Notwithstanding the remainder of this Part, credit institutions shall not be required to use a specific type of model.
Za vse posle z izvedenimi finančnimi instrumenti, s katerimi se trguje na prostem trgu (OTC) in za vse transakcije z dolgim rokom poravnave, za katere kreditna institucija ni prejela dovoljenja za uporabo IMM, kreditna institucija uporablja metode iz dela 3 ali dela 5.
For all OTC derivative transactions and for long settlement transactions for which a credit institution has not received approval to use the IMM, the credit institution shall use the methods set out in Part 3 or Part 5.
Kombinirana uporaba teh dveh metod je trajno dovoljena znotraj skupine.
Combined use of these two methods is permitted on a permanent basis within a group.
Kombinirana uporaba teh dveh metod v okviru pravne osebe se lahko dovoli samo za posle iz odstavka 19 dela 5.
Combined use of these two methods within a legal entity is only permitted where one of the methods is used for the cases set out in Part 5, point 19.
Kreditne institucije, ki so pridobile dovoljenje za uporabo IMM, ne smejo ponovno začeti uporabljati metod iz dela 3 ali dela 5, razen iz dokazano upravičenega razloga in pod pogojem, da jim to odobrijo pristojni organi.
Credit institutions which have obtained permission to use the IMM shall not revert to the use of the methods set out in Part 3 or Part 5 except for demonstrated good cause and subject to approval of the competent authorities.
Model podrobno določa porazdelitev napovedi sprememb tržnih vrednosti niza pobotov, ki se lahko pripiše spremembam tržnih spremenljivk, kakršne so obrestne mere in devizni tečaji.
The model shall specify the forecasting distribution for changes in the market value of the netting set attributable to changes in market variables, such as interest rates, foreign exchange rates.
Model nato izračuna vrednost izpostavljenosti na niz pobotov na vsak prihodnji datum glede na spremembe tržnih spremenljivk.
The model shall then compute the exposure value for the netting set at each future date given the changes in the market variables.
Za nasprotne stranke, katerih izpostavljenosti so zavarovane s kritji (margined counterparties), lahko model zajema tudi prihodnja gibanja vrednosti zavarovanja s premoženjem.
For margined counterparties, the model may also capture future collateral movements.
Kreditne institucije lahko vključijo upravičeno zavarovanje s finančnim premoženjem, kakor je opredeljeno v odstavku 11 dela 1 Priloge VIII te direktive in odstavku 9 Priloge II Direktive 2006/.../ES
Credit institutions may include eligible financial collateral as defined in point 11 of Part 1 of Annex VIII to this Directive and point 9 of Annex II to Directive 2006/.../EC*
, v svoje napovedovalne porazdelitve sprememb tržnih vrednosti niza pobotov, če so za zavarovanje s premoženjem izpolnjene zahteve po količini, kakovosti in podatkih za IMM.
in their forecasting distributions for changes in the market value of the netting set, if the quantitative, qualitative and data requirements for the IMM are met for the collateral.
vrednost izpostavljenosti = α × dejanska EPE
Exposure value = α × Effective EPE
Notranji model ocenjuje EE na časovni vrsti več prihodnjih datumov t1, t2, t3 itd.
The model estimates EE at a series of future dates t1, t2, t3, etc.
Dejanska EE se izračunava kot:
Effective EE shall be computed recursively as:
dejanska EEtk = max(dejanska EEtk-1; EEtk) EEtk)
Effective EEtk = max(Effective EEtk-1; EEtk)
tekoči datum je označen kot t0 in dejanska EEt0 je enaka tekoči izpostavljenosti.
the current date is denoted as t0 and Effective EEt0 equals current exposure.
V skladu s tem je dejanska EPE povprečje dejanske EE v prvem letu prihodnje izpostavljenosti.
In this regard, Effective EPE is the average Effective EE during the first year of future exposure.
Če vse pogodbe v nizu pobotov zapadejo prej kakor v enem letu, je EPE povprečje pričakovane izpostavljenosti do zapadlosti vseh pogodb v nizu pobotov.
If all contracts in the netting set mature within less than one year, EPE is the average of EE until all contracts in the netting set mature.
Dejanska EPE se izračuna kot tehtano povprečje dejanske EE:
Effective EPE is computed as a weighted average of Effective EE:
uteži Δtk = tk – tk-1 dopuščajo izračun prihodnjih izpostavljenosti na datume, ki niso enakomerno časovno porazdeljeni.
the weights Δtk = tk – tk-1 allow for the case when future exposure is calculated at dates that are not equally spaced over time.
Velikosti EE ali konične izpostavljenosti se izračunajo na podlagi porazdelitve izpostavljenosti, ki upošteva možne nenormalnosti v porazdelitvi izpostavljenosti.
EE or peak exposure measures shall be calculated based on a distribution of exposures that accounts for the possible non-normality of the distribution of exposures.
Kreditne institucije lahko uporabijo mero, ki je bolj konzervativno kakor je zmnožek α in dejanske EPE, kakor je izračunana v skladu z zgoraj navedeno enačbo, za vsako nasprotno stranko.
Credit institutions may use a measure that is more conservative than α multiplied by Effective EPE as calculated according to the equation above for every counterparty.
Ne glede na odstavek 7 lahko pristojni organi dovolijo kreditnim institucijam, da uporabijo svoje lastne ocene α, ob upoštevanju praga 1.2 za α, pri čemer je α enako razmerju med ekonomskim kapitalom, ki izhaja iz popolne simulacije izpostavljenosti do vseh nasprotnih strank (števec), in ekonomskim kapitalom izračunanim na podlagi EPE (imenovalec).
Notwithstanding point 7, competent authorities may permit credit institutions to use their own estimates of α, subject to a floor of 1.2, where α shall equal the ratio of internal capital from a full simulation of CCR exposure across counterparties (numerator) and internal capital based on EPE (denominator).
V imenovalcu se EPE šteje kot določen neplačan znesek dolga.
In the denominator, EPE shall be used as if it were a fixed outstanding amount.
Kreditne institucije dokažejo, da njihove lastne ocene α v števcu zajemajo bistvene vire stokastične odvisnosti (korelacije) razporeditve tržnih vrednosti poslov ali portfeljev poslov do vseh nasprotnih strank.
Credit institutions shall demonstrate that their internal estimates of α capture in the numerator material sources of stochastic dependency of distribution of market values of transactions or of portfolios of transactions across counterparties.
Lastne ocene α upoštevajo razdrobljenost portfeljev.
Internal estimates of α shall take account of the granularity of portfolios.
Kreditna institucija zagotovi, da se števec in imenovalec za α izračunata dosledno glede na metodologijo modeliranja, specifikacije parametrov in sestavo portfelja.
A credit institution shall ensure that the numerator and denominator of α are computed in a consistent fashion with respect to the modelling methodology, parameter specifications and portfolio composition.
Uporabljeni pristop temelji na notranjem ekonomskem kapitalu kreditne institucije, je dobro dokumentiran in je predmet neodvisnega ovrednotenja.
The approach used shall be based on the credit institution's internal capital approach, be well documented and be subject to independent validation.
Poleg tega kreditne institucije preverjajo lastne ocene α vsaj vsako četrtletje oziroma bolj pogosto, kadar se sestava portfelja spreminja.
In addition, credit institutions shall review their estimates on at least a quarterly basis, and more frequently when the composition of the portfolio varies over time.
Kreditne institucije tudi ocenjujejo tveganje, ki izhaja iz modela.
Credit institutions shall also assess the model risk.
Kjer je to primerno, bi nestanovitnosti in korelacije dejavnikov tržnega tveganja, uporabljene v skupni simulaciji tržnega in kreditnega tveganja, morale biti pogojene z dejavnikom kreditnega tveganja, da bi prikazale potencialna povečanja nestanovitnosti ali korelacije v obdobju gospodarske recesije.
Where appropriate, volatilities and correlations of market risk factors used in the joint simulation of market and credit risk should be conditioned on the credit risk factor to reflect potential increases in volatility or correlation in an economic downturn.
Če se za niz pobotov uporablja dogovor o kritju, kreditne institucije uporabijo eno od naslednjih meril EPE:
If the netting set is subject to a margin agreement, credit institutions shall use one of the following EPE measures:
dejanska EPE brez upoštevanja dogovora o kritju;
Effective EPE without taking into account the margin agreement;
prag, če je pozitiven, v dogovoru o kritju, plus pribitek, ki prikazuje potencialno povečanje izpostavljenosti v obdobju kritja za tveganje.
the threshold, if positive, under the margin agreement plus an add-on that reflects the potential increase in exposure over the margin period of risk.
Pribitek se izračuna kot pričakovano povečanje izpostavljenosti v nizu pobotov, začenši s tekočo izpostavljenostjo nič v obdobju kritja za tveganje.
The add-on is computed as the expected increase in the netting set's exposure beginning from a current exposure of zero over the margin period of risk.
Za obdobje kritja za tveganja, ki se uporablja za ta namen, je določen prag petih delovnih dni za nize pobotov, sestavljenih samo iz poslov ali podobnih poslom začasne prodaje/začasnega nakupa, ob upoštevanju dnevnega spreminjanja/oblikovanja kritja in dnevnega vrednotenja na podlagi tekočih tržnih cen, ter desetih delovnih dni za vse druge nize pobotov; ali
A floor of five business days for netting sets consisting only of repo-style transactions subject to daily remargining and daily mark-to-market, and ten business days for all other netting sets is imposed on the margin period of risk used for this purpose; or
če notranji model zajame učinke oblikovanja kritja pri ocenjevanju EE, se ob upoštevanju odobritve pristojnih organov, EE izračunan z modelom lahko uporablja neposredno v enačbi iz odstavka 8.
if the model captures the effects of margining when estimating EE, the model's EE measure may be used directly in the equation in point 8 subject to the approval of the competent authorities.
Minimalne zahteve za EPE model
Minimum requirements for EPE models
Model EPE kreditne institucije izpolnjuje operativne zahteve iz odstavkov 17 do 41.
A credit institution's EPE model shall meet the operational requirements set out in points 17 to 41.
Kreditna institucija vzpostavi kontrolno enoto, ki je pristojna za oblikovanje in izvajanje njenega sistema upravljanja CCR, vključno z začetnim in sprotnim ovrednotenjem notranjega modela.
The credit institution shall have a control unit that is responsible for the design and implementation of its CCR management system, including the initial and on-going validation of the model.
Ta enota kontrolira celovitost vhodnih podatkov ter izdeluje in analizira poročila o rezultatih modela glede merjenja tveganj kreditne institucije, vključno z ovrednotenjem odnosa med merami izpostavljenosti tveganjem ter kreditnimi in trgovalnimi limiti.
This unit shall control input data integrity and produce and analyse reports on the output of the credit institution's risk measurement model, including an evaluation of the relationship between measures of risk exposure and credit and trading limits.
Ta enota je neodvisna od enote za poslovanje s krediti in enote trgovanja in ni izpostavljena neprimernim vplivom; enota ima primerno osebje; enota poroča neposredno višjemu vodstvu kreditne institucije.
This unit shall be independent from units responsible for originating, renewing or trading exposures and free from undue influence; it shall be adequately staffed; it shall report directly to the senior management of the credit institution.
Delo te enote je tesno vključeno v procese vsakodnevnega upravljanja s kreditnimi tveganji kreditne institucije.
The work of this unit shall be closely integrated into the day-to-day credit risk management process of the credit institution.
Njeni rezultati so v skladu s tem sestavni del procesa načrtovanja, spremljanja in kontroliranja kreditnega tveganja in celotnega profila tveganja kreditne institucije.
Its output shall, accordingly, be an integral Part of the process of planning, monitoring and controlling the credit institution's credit and overall risk profile.
Kreditna institucija ima politike, procese in sisteme upravljanja CCR, ki so zanesljivi in se izvajajo celovito.
A credit institution shall have CCR management policies, processes and systems that are conceptually sound and implemented with integrity.
Zanesljiv okvir upravljanja CCR vključuje prepoznavanje, merjenje, upravljanje, odobritev in notranje poročanje o CCR.
A sound CCR management framework shall include the identification, measurement, management, approval and internal reporting of CCR.
Politike kreditne institucije za upravljanje s tveganji upoštevajo tržna, likvidnostna ter pravna in operativna tveganja, ki jih je mogoče povezati s CCR.
A credit institution's risk management policies shall take account of market, liquidity, and legal and operational risks that can be associated with CCR.
Kreditna institucija ne sklepa poslov z nasprotno stranko, če ne preveri njene kreditne sposobnosti, in primerno upošteva kreditno tveganje pri poravnavi in pred poravnavo posla.
The credit institution shall not undertake business with a counterparty without assessing its creditworthiness and shall take due account of settlement and pre-settlement credit risk.
Ta tveganja se upravljajo čim bolj celovito na ravni nasprotne stranke (s seštevanjem izpostavljenosti nasprotne stranke z drugimi kreditnimi izpostavljenostmi) in na ravni celotne kreditne institucije.
These risks shall be managed as comprehensively as practicable at the counterparty level (aggregating CCR exposures with other credit exposures) and at the firm-wide level.
Uprava kreditne institucije ter višje vodstvo se aktivno vključujejo v proces kontrole CCR in to obravnavajo kot bistveni vidik poslovanja, kateremu je treba nameniti znatna sredstva.
A credit institution's board of directors and senior management shall be actively involved in the CCR control process and shall regard this as an essential aspect of the business to which significant resources need to be devoted.
Višje vodstvo se zaveda omejitev in predpostavk uporabljenih v modelu ter vpliva, ki ga lahko imajo na zanesljivost dobljenih podatkov.
Senior management shall be aware of the limitations and assumptions of the model used and the impact these can have on the reliability of the output.
Višje vodstvo upošteva tudi negotovosti tržnega okolja ter operativne zadeve in so seznanjeni, kako so te odražane v modelu.
Senior management shall also consider the uncertainties of the market environment and operational issues and be aware of how these are reflected in the model.
V tej zvezi, samo raven vodstva z dovolj visoko ravnijo pristojnosti za izvajanje tako znižanj pozicij, ki jih odobrijo posamezni vodje pri poslovanju s krediti ali trgovci, kot znižanj celotne izpostavljenosti CCR kreditne institucije, pregleduje dnevna poročila o izpostavljenostih kreditne institucije do CCR.
The daily reports prepared on a credit institution's exposures to CCR shall be reviewed by a level of management with sufficient seniority and authority to enforce both reductions of positions taken by individual credit managers or traders and reductions in the credit institution's overall CCR exposure.
Sistem upravljanja CCR kreditne institucije se uporablja v povezavi z notranjimi kreditnimi in trgovalnimi limiti.
A credit institution's CCR management system shall be used in conjunction with internal credit and trading limits.
V tej zvezi so kreditni limiti in limiti za trgovanje povezani z modelom merjenja tveganja kreditne institucije na način, ki je ves čas dosleden in ga osebje, ki odobravajo kredite in trgujejo, ter višje vodstvo dobro razumejo.
Credit and trading limits shall be related to the credit institution's risk measurement model in a manner that is consistent over time and that is well understood by credit managers, traders and senior management.
Merjenje CCR kreditne institucije vključuje merjenje dnevne in med dnevne uporabe kreditnih linij.
A credit institution's measurement of CCR shall include measuring daily and intra-day usage of credit lines.
Kreditna institucija meri tekoče izpostavljenosti bruto in neto glede na zavarovanje s premoženjem, ki ga ima.
The credit institution shall measure current exposure gross and net of collateral.
Kreditna institucija na ravni portfelja in na ravni nasprotne stranke izračuna in spremlja konično izpostavljenost ali potencialno prihodnjo izpostavljenost (PFE) v intervalu zaupanja, ki ga sama izbere.
At portfolio and counterparty level, the credit institution shall calculate and monitor peak exposure or PFE at the confidence interval chosen by the credit institution.
Kreditna institucija upošteva velike pozicije ali koncentracije pozicij, ki jih ima po skupinah povezanih nasprotnih strank, po gospodarskih panogah, po trgih itd.
The credit institution shall take account of large or concentrated positions, including by groups of related counterparties, by industry, by market, etc.
Kreditna institucija ima vzpostavljen rutinski in natančen program testiranja izjemnih situacij, kot dodatek k analizi CCR na podlagi vsakodnevnih rezultatov modela za merjenje tveganj kreditne institucije.
A credit institution shall have a routine and rigorous program of stress testing in place as a supplement to the CCR analysis based on the day-to-day output of the credit institution's risk measurement model.
Višje vodstvo redno pregleduje rezultate tega testiranja izjemnih situacij, ki so odražani v politikah CCR in v limitih, ki jih določi vodstvo ter uprava.
The results of this stress testing shall be reviewed periodically by senior management and shall be reflected in the CCR policies and limits set by management and the board of directors.
Če testiranje izjemnih situacij pokaže posebno ranljivost v določenih okoliščinah, se takoj sprejmejo ukrepi za primerno upravljanje teh tveganj.
Where stress tests reveal particular vulnerability to a given set of circumstances, prompt steps shall be taken to manage those risks appropriately.
Kreditna institucija ima rutinske postopke za zagotavljanje skladnosti z dokumentiranim nizom internih politik, kontrol in postopkov v zvezi z delovanjem sistema za upravljanje CCR.
A credit institution shall have a routine in place for ensuring compliance with a documented set of internal policies, controls and procedures concerning the operation of the CCR management system.
Sistem upravljanja CCR kreditne institucije je natančno dokumentiran in zagotavlja razlago empiričnih tehnik, ki se uporabljajo za merjenje CCR.
The credit institution's CCR management system shall be well documented and shall provide an explanation of the empirical techniques used to measure CCR.
Kreditna institucija redno opravlja neodvisen pregled sistema upravljanja CCR preko lastnega procesa interne revizije.
A credit institution shall conduct an independent review of its CCR management system regularly through its own internal auditing process.
Ta pregled vključuje tako delovanje enot za kreditiranje in trgovanje, kot tudi neodvisne enote za kontrolo CCR.
This review shall include both the activities of the business units referred to in point 17 and of the independent CCR control unit.
Pregled celotnega procesa upravljanja CCR poteka redno (v idealnih razmerah najmanj enkrat na leto) in posebej obravnava vsaj:
A review of the overall CCR management process shall take place at regular intervals and shall specifically address, at a minimum:
primernost dokumentacije sistema upravljanja in procesa CCR;
the adequacy of the documentation of the CCR management system and process;
organizacijo kontrolne enote CCR;
the organisation of the CCR control unit;
vključevanje ukrepov CCR v dnevno upravljanje s tveganji;
the integration of CCR measures into daily risk management;