natgillin/translations-raw huggingface dataset:
The ECB continued its efforts, in close cooperation with the euro area NCBs, to ensure the uniform interpretation of the provisions of the BRF throughout the euro area, especially
UPRAVLJANJE LASTNIH SREDSTEV Portfelj lastnih sredstev ECB sestavljajo naložbe vplačanega kapitala ECB ter zneski, ki jih občasno hrani v skladu splošnih rezerv in v re-
with regard to the Eurosystem’s common test procedure for banknote handling machines.
modificirano trajanje naložbenega portfelja ECB razmeroma kratko.
such an ECI programme should be established on a permanent basis.
spremljajo in merijo, da bi se ohranjala v mejah, ki jih določijo organi odločanja ECB.
ROADMAP FOR GREATER CONVERGENCE OF NCB CASH SERVICESIn February 2007 the Governing Council adopted a roadmap with the aim of achieving, in the medium term, greater convergence in the cash services offered by the Eurosystem.
ECB je leta 2007 z izboljšanjem in nadgradnjo informacijskih sistemov še dodatno izboljšala zmožnost upravljanja tveganja. Izboljšave pomenijo, da so zdaj številne naloge spremljanja, merjenja in poročanja v zvezi s tveganjem avtomatizirane v zanesljivi in prožni infrastrukturi.
By adapting their operations in accordance with the BRF, credit institutions and other professional cash handlers will strengthen their ability to detect potential counterfeit euro banknotes.
, ki za portfelj fi finančnega premoženja dolo ča izgubo, ki ob koncu določenega obdobja ob dani verjetnosti ne bo presežena.
This will contribute effectively to their compliance with the legal obligation to remove potential counterfeits from circulation immediately and to make them available to law enforcement authorities for further investigation.
Vrednost tega kazalnika je odvisna od vrste parametrov, ki se uporabijo v izračunu, zlasti od ravni zaupanja, trajanja časovnega obdobja in vzorca, ki se uporabi za ovrednotenje cenovne volatilnosti fi finančnega sredstva.
Furthermore, it will ensure that credit institutions supply customers with banknotes that are in good physical condition, thus helping them to distinguish between genuine and counterfeit banknotes.
Izračun tega kazalnika za naložbeni portfelj ECB, v katerem bi kot parametre upo- rabili 9
Greater convergence is important because it will allow stakeholders – in particular those with significant crossborder cash activities – to fully reap the benefits of the single currency, and will ensure fair competitive treatment.
7 enoletni vzorec cenovne volatilnosti finančnega sredstva, je na primer pokazal VaR v vrednosti 3.500 milijonov EUR. Če isti kazalec izračunamo s petletnim namesto enoletnim vzorcem, bi dobili VaR v vrednosti 4.800 milijonov EUR.
In view of the different national economic and geographical environments, the Eurosystem does not envisage a “one-size-fits-all” cash supply system.
Večino tega tržnega tveganja lahko pripišemo valutnemu tveganju in cenovnemu tveganju pri zlatu. Nizka raven obrestnega tveganja kaže, de je ostalo
The process of convergence will require some flexibility regarding customer requirements, the cash infrastructure and transitional periods for implementation.
Za podrobnosti glej članek „The use of portfolio credit risk models in central banks”, ki ga je pripravila projektna skupina Odbora ESCB za operacije na trgu in je bil julija 2007 objavljen v občasnem zvezku ECB (Occasional Paper No 64).
THE EXTENDED CUSTODIAL INVENTORY PILOT PROGRAMMEThe Governing Council decided in 2006 to launch an Extended Custodial Inventory (ECI) pilot programme for euro banknotes in Asia.
tavlja tudi možnosti za delovanje učinkovitih in zanesljivih klirinških in plačilnih sistemov. Za to je vzpostavil transevropski sistem bruto porav- nave v realnem času (
An ECI is a cash depot maintained by a private bank (ECI bank) that holds currency on a custodial basis.
) za pla čila veli- kih vrednosti in nujna plačila v eurih. Namesto tehnično decentraliziranega sistema T
The Eurosystem is still considering a number of further steps, including electronic data exchange with credit institutions for cash lodgements and withdrawals, orientation-independent banknote lodgements and withdrawals as a common free-of-charge NCB service, and common banknote packaging standards for the free-of-charge NCB cash services.
Sistem TARGET za izvajanje plačil v svojem imenu ali v imenu svojih strank uporablja okrog 9300 bank, vključno s podružnicami in hčerinskimi podjetji. Skupaj je mogoče prek sistema TARGET z uporabo bančne identifikacijske kode nasloviti približno 52.000 institucij, zlasti podružnic udeležencev.
As these issues have a bearing on stakeholders in the cash cycle and could have operational and cost implications, consultations have been conducted at both the national and the European level.
OPERACIJE SISTEMA TARGETLeta 2007 se je dnevno povpre čje plačil, obdela- nih prek sistema T
The ECI operations and statistical reporting of the ECI banks proceeded smoothly.
Tabela 12 Plačilni promet v sistemu TARGET1
This reduction in the production volume
S tako pobudo naj bi zagotovili, da med izvajanjem poravnav v domačem in čezmejnem plačilnem prometu v euroobmočju ni razlik.
Table 13 Allocation of euro banknote production in 2007
Celoten promet Skupaj Dnevno povprečje Znotraj držav
Source: ECB.
Sprememba (%)
It resulted in a package of security features which the Governing Council adopted in October 2007.
Sistem TARGET ima pomembno vlogo pri izvajanju enotne denarne politike in delovanju eurskega denarnega trga.
In addition to traditional security features which have proven their effectiveness, several innovative visual and machine-readable security features will be integrated into the second series of banknotes, with a view to effectively thwarting modern counterfeiting techniques.
TARGET zaradi zagotavljanja storitev poravnave v realnem času v centralnobančnem denarju in širokega tržnega pokritja pritegne tudi vrsto drugih plačil. TARGET je na razpolago za vsa nakazila v eurih med sodelujočimi bankami, in sicer brez zgornje ali spodnje omejitve vrednosti.
The selected security features have now been embedded in the artistic design, which is based on the “ages and styles” theme of the current series.
Vir: ECB.1) V letih 2006 in 2007 je bilo obakrat 255 obratovalnih dni.2) Vključuje promet oddaljenih udeležencev.
Keeping this theme, while redesigning the graphical elements, will ensure that the new banknotes are immediately recognisable as euro banknotes, yet allow cash users to distinguish easily between the two series of banknotes.
Leta 2007 je TARGET deloval nemoteno, trend poravnave vse večjega števila plačil v eurih pa se je nadaljeval. To je v skladu s ciljem politike Eurosistema, ki spodbuja poravnave v central-
In December 2007 the Governing Council approved the draft design of the new series of banknotes, paving the way for the origination16 phase.
GET v letu 2007 v primerjavi s prometom v prejšnjem letu. Leta 2007 je skupna razpoložljivost sistema
The new series will be launched over a period of several years, and the first denomination is expected to be issued in a few years’ time.
, tj. odstotek časa, v katerem so udele- rabljala sistem BPRČ Deutsche Bundesbank.
The ECB will inform the public well in advance about the modalities of the introduction of the new banknotes.
Ko je novembra 2007 začel delovati sistem TARGET2, so Ciper, Latvija, Litva in Malta začeli izvajati operacije na njegovi enotni skupni platformi (ESP).
In July 2007 the ECB began the electronic publication of daily yield curves reflecting the implicit market remuneration rates of euro area central government debt securities denominated in euro (based on the interest rate and the market price) for a wide spectrum of maturities, ranging from 3 months to 30 years.
, ter pozivi h kritju za centralne nasprotne stranke – izvedejo brez zamud, tudi v izrednih okoliščinah. Eurosistem je uvedel ukrepe v izrednih razmerah, ki naj zagotovijo urejeno izvedbo takih plačil tudi ob okvari sistema TARGET.
The euro area yield curves can assist in gauging market expectations of economic and financial activity over a medium to longterm horizon.
Leta 2007 so centralne banke (pogosto skupaj s poslovnimi bankami) izvedle več dodatnih preizkusov, ki so potrdili učinkovitost ukrepov v izrednih razmerah in dobro pripravljenost Eurosistema, da zagotavlja nemoteno delovanje plačilnih sistemov in fi nančnih trgov tudi v kriznih situacijah.
The ECB, assisted by the NCBs, develops, collects, compiles and disseminates a wide range of statistics which support the monetary policy of the euro area and various tasks of the ESCB. They are also increasingly used by the financial markets and the general public.
ODNOSI Z UPORABNIKI SISTEMA TARGET IN UPRAVLJAVCI SISTEMOV BPRČ DRUGIH VALUTNIH OBMOČIJESCB vzdržuje tesne stike z uporabniki sistema TARGET, da bi zagotovil primerno upoštevanje njihovih potreb in pridobil ustrezen odziv.
As in previous years, in 2007 the provision of euro area statistics proceeded smoothly.
Tako kot v preteklih letih so tudi leta 2007 potekali redni sestanki nacionalnih centralnih bank, povezanih v TARGET, in nacionalnih skupin uporabnikov sistema TARGET.
A major milestone in the ECB’s mediumterm strategy for statistics was reached in June 2007, with the first joint ECB/Eurostat publication of a set of quarterly integrated non-financial and financial accounts for the institutional sectors of the euro area.
Eurosistem je leta 2007 kot upravljavec največjega sistema BPRČ na svetu po vrednosti obdelanih transakcij vzdrževal neposredne stike z upravljavci BPRČ drugih ključnih valutnih območij.
In addition, the ECB, in close collaboration with the NCBs, continued to contribute to the further harmonisation of statistical concepts in Europe and to the review of core global statistical standards.
Zaradi vse večje medsebojne povezanosti, na primer zaradi operacij v sistemu CLS, je nastala potreba po skupni obravnavi operativnih vprašanj.
The ECB has also compiled and released, on an experimental basis, monthly HICP-based estimates of administered prices in the euro area, using information on HICP sub-indices published by Eurostat and definitions agreed within the ESCB.
POVEZAVA S SISTEMOM TARGET ZA NCB DRŽAV ČLANIC, KI SO VSTOPILE V EU LETA 2004 IN 2007Oktobra 2002 je Svet ECB odločil, da se bodo nacionalne centralne banke novih držav članic po širitvi EU lahko povezale s trenutnim sistemom
Among other things, they allow a comprehensive analysis of the links between financial and non-financial developments in the economy and of the interrelations among the different sectors of the economy (households, non-financial corporations, financial corporations and general government) and between these sectors and the rest of the world.
Cen- tralni banki Narodowy Bank Polski in Eesti Pank sta leta 2005 oziroma 2006 svoj sistem bruto poravnave v realnem času (BPRČ) povezali s sistemom
In April 2007 the existing monthly statistics on outstanding amounts of Short-Term European
Sistem TARGET2 je začel delovati 19. novembra 2007, ko je prva skupina držav (Nemčija, Ciper, Latvija, Litva, Luksemburg, Malta, Avstrija in Slovenija) svoje operacije prenesla na enotno skupno platformo.
alignment of statistical and supervisory concepts and data, focusing initially on the reporting requirements of credit institutions.
GET2 je bil zelo uspešen. Enotna skupna platforma (ki jo v imenu Eurosistema upravljajo Banque de France, Banca d
Work is under way in several areas to further improve the euro area monetary and financial statistics in the coming years.
Svet ECB je 22. junija 2007 objavil četrto poročilo o napredku sistema TARGET2, s katerim je udeležence na trgu obvestil o odločitvah Eurosistema glede odprtih vprašanj o oblikovanju cen in odobritvi smernice o sistemu TARGET2 ter prilagodil nekatere prejšnje odločitve.
In particular, preparations have been made for an integrated approach to MFI securitisation and the activities of financial vehicle corporations, paving the way for greatly enhanced availability of data on loan sales and loan securitisation.
Poročilo je vsebovalo tudi končno različico splošne funkcionalne specifikacije (GFS) ter informacije o pravnih zadevah, zadnjih spremembah predvidene funkcionalnosti enotne skupne platforme in dejavnostih v zvezi s testiranjem in migracijo.
In addition, the Eurosystem is exploring the feasibility of enhancing statistical data on insurance corporations and pension funds.
je migracijo izvedla še druga skupina držav, je ta odstotek pri obeh vidikih – obsegu in vrednosti – dosegel približno 80%.
Several documents published in 2007 helped to increase transparency on the governance and quality standards currently applied to the production and dissemination of ECB and ESCB statistics.
Poleg tega je Svet ECB 29. oktobra 2007 objavil
Furthermore, the “ECB Statistics Quality Framework” elaborates on the quality principles that guide the production of ECB statistics.
GET2, s direktne obremenitve in kreditna pla čila. Poleg tega T
Qualitative assessments and quantitative indicators, such as those contained in the annual quality report on the euro area balance of payments and international investment position statistics, are provided regularly as part of this quality framework.
GET2 omogo ča, da lahko podsistemi katerim je udeležence na trgu seznanil z najnovejšimi informacijami o odločitvah Eurosistema glede preostalih operativnih vprašanj. Poročilo je vsebovalo tudi informativni vodnik za uporab- nike sistema T
The ECB continued to work on the development of a Centralised Securities Database (CSDB).
Information guide for poravnavajo neposredno na enotni skupni platformi.
The CSDB, an ESCB-wide project, is a single database containing benchmark information on individual securities that are relevant for the statistical purposes of the ESCB.
Vsakemu udeležencu je načelno omogočeno, da svojo denarno poravnavo izvede s katerim koli podsistemom prek enega samega
The database is already used by some NCBs to compile national financial statistics.
TARGET2 users”) in informativni vodnik o obli- centralnobančnega računa v sistemu T
4.2 OTHER STATISTICAL DEVELOPMENTS
kovanju cen storitev sistema T
In addition, new data on securities trading and central counterparties have been made available.
Zaradi predvidenega za četka delovanja sistema
In 2007 the Eurosystem analysed in detail possible ways to further increase the efficiency of the production of ECB statistics, also with a view to keeping the statistical burden to a minimum.
GET2 so med letom 2007 potekala priza- devanja za dokončanje operativnega in pravnega okvira.
In this context, further work was conducted on the feasibility of reusing existing micro-data, in particular from credit registers and central balance sheet data offices.
Tako so bile skupaj s prihodnjimi uporabniki sistema temeljito pripravljene in izvedene dejavnosti v zvezi s testiranjem in migracijo.
In addition, work continued with a view to promoting the
Med februarjem in aprilom 2007 je potekalo testiranje skladnosti enotne skupne platforme sistema T
As in previous years, the statistical information provided in the ECB’s publications has been made more comprehensive.
GET2 s sistemskimi speci fi k a c i - jami, ki jih je določil Eurosistem v sodelovanju z uporabniki (splošne funkcionalne speci fi kacije
Union and in accession countries” (see Section 3 of Chapter 4).
) in podrobne uporabniške funkcionalne specifikacije (
Annual data on banking structures and quarterly data underpinning the Financial Stability Review were further improved.
Informativni vodnik za uporabnike sistema TARGET2 ponuja bankam in podsistemom, ki uporabljajo TARGET2, standarden sklop informacij ter jim tako omogoča boljše razumevanje celotnega delovanja sistema TARGET2 in njegovo čim učinkovitejšo uporabo.
The euro money market survey was enhanced, in terms of both data quality and timeliness, and the underlying datasets have been made available in the SDW.
Vodnik daje odgovore na najpogosteje zastavljena vprašanja v zvezi s sistemom TARGET2 in si zlasti prizadeva uporabnikom zagotoviti jasno razumevanje značilnosti, ki so skupne za vse države, in značilnosti, ki so specifične za posamezno državo.
Since the assessment of the convergence process is highly dependent on the quality and integrity of the underlying statistics, the ECB closely monitors developments in the compilation and reporting of these statistics, particularly government finance statistics.
Informativni vodnik o oblikovanju cen storitev sistema TARGET2 ponuja uporabnikom sistema TARGET2 podroben pregled modela oblikovanja cen storitev sistema (temeljne storitve, storitve združevanja likvidnosti in storitve podsistemov) ter podrobnosti o načelih zaračunavanja različnih vrst transakcij in subjektih, ki se jim izstavi račun.
An ECB Occasional Paper entitled “Towards harmonised balance of payments and international investment position statistics – the experience of the European compilers”, published in July 2007, provides an overview of the methodological framework and practical issues related to the collection, compilation and dissemination of these statistics.
je začelo 2. maja 2007, kot je bilo načrtovano, rezultati pa so bili predstavljeni prek rednih poročil o stanju.
The ECB continued to cooperate closely with Eurostat and other international organisations and has played an important role in the current update of global statistical standards (with the work on the System of National Accounts (SNA 93) and the IMF Balance of Payments Manual due to be completed by 2008).
Testiranje je ponudilo tudi priložnost za oceno načrtovanja migracijskih vikendov. Popolna „vaja” za prvi migracijski vikend je tako ob sodelovanju vseh nacionalnih centralnih bank potekala 29. in 30. septembra 2007.
Eurostat, supported by the ECB, has recently started to prepare for the revision of the ESA 95, which will implement most of the changes to the SNA at the European level. The ECB was also actively involved in reviewing the OECD Benchmark Definition of Foreign Direct Investment.
Eurosistem je po uspešnem zaključku svojih testiranj v sporočilu za javnost 9. novembra 2007 potrdil, da so nacionalne bančne skupnosti prve migracijske skupine pripravljene na migracijo in da bo novi sistem začel delovati v živo 19. novembra 2007, kot je bilo načrtovano.
Finally, it continued to support and implement global technical standards for data exchange.19
Poleg navedenih poročil o napredku in tesnega sodelovanja z uporabniki pri testiranju in migra-
4.3 PREPARING FOR EURO AREA ENLARGEMENT
ECBLetno poročilo2007
Statistics also play an important role in monitoring the convergence of EU Member States that do not yet belong to the euro area and, hence, in the preparation of the convergence reports (see Section 1.2 of Chapter 5).
ciji so uporabniki redne informacije o napredku dobivali na spletnih straneh ECB in nacionalnih centralnih bank, namenjenih sistemu TARGET2, in sicer v zvezi z naslednjim:
19 For example, the Statistical Data and Metadata Exchange (SDMX), an initiative supported by the BIS, the ECB, Eurostat, the IMF, the OECD, the United Nations and the World Bank, which serves to foster global standards for the exchange of statistical information.
9. oktobra 2007 pa so bile objavljene končne različice dokumenta s podrobnimi uporabniškimi funkcionalnimi specifikacijami (User Detailed Functional Specifications – UDFS) (1., 2. in 4. knjiga o sporočilih XML in pripadajočih datotekah s shemami XML).
The statistical data needed to assess the progress made by Member States in fulfilling the convergence criteria on price stability, fiscal positions, exchange rates and longterm interest rates are provided by Eurostat.
2.3 TARGET2-SECURITIES v letu 2007 je bil izdelan in redno dopolnjevan načrt za projekt TARGET2, namenjen uporabnikom, ki se je uporabljal kot orodje za lažje notranje načrtovanje, ki ga izvajajo uporabniki, in uskladitve z načrtovanjem, ki ga izvaja Eurosistem;
The ECB,
Cilj pobude T
scale models and their use for policy analysis continued: the New Area-Wide Model (NAWM) and the Christiano, Motto and Rostagno model.
– tekom leta 2007 so se na nacionalni ravni izvajale redne delavnice z uporabniki.
The first is a forecasting and simulation tool being developed for use, together with other models, in the context of the Eurosystem and ECB projection exercises.
Poleg tega je na evropski ravni 14. junija 2007 v ECB potekal informativni sestanek o sistemu TARGET2 za uporabnike;
The second is a simulation tool with special emphasis on financial factors. As regards the development of forecasting tools, factor-based models were further developed and increasingly used for the shortterm assessment of economic developments.
– gočiti usklajeno in učinkovito poravnavo poslov z vrednostnimi papirji v eurih v centralnobančnem denarju, in sicer tako, da so poravnave vrednostnih papirjev in denarne poravnave v eurih izvedene na enotni platformi.
Finally, the ECB actively supported the Euro Area Business Cycle Network, a joint venture between central banks and the academic community managed by the Centre for Economic Policy Research (CEPR).
Sistem T2S bo zagotovil, da med izvajanjem domačih in čezmejnih poravnav v euroobmočju v sodelujočih centralnih depotnih družbah ne bo razlik.
At the ECB economic research is mainly conducted by the Directorate General Research, but also by several other business areas.
Zato bo deloval kot katalizator pri integraciji in harmonizaciji evropskih fi nančnih storitev po opravljenem trgovanju.
A Research Coordination Committee coordinates the research, setting priorities and bringing together the business areas which are requesting or supplying research.
T2S bo prav tako spodbujal konkurenco z zagotavljanjem enakopravnega, cenejšega in usklajenega dostopa do poravnalnih storitev na evropskem finančnem trgu.
The following fields were the main research priorities for 2007: forecasting model development; the role of financial sector information, including credit and monetary aggregates, in monetary policy analysis; understanding the transmission mechanism of monetary policy; financial stability; the efficiency of the European financial system; and international issues.
Svet ECB je 26. aprila 2007 sprejel smernico ECB o transevropskem sistemu bruto poravnave v realnem času (TARGET2), ki je bila 11. junija 2007 objavljena v vseh uradnih jezikih EU.
With respect to forecasting model development, the focus was on the further development and use of structural dynamic stochastic general equilibrium (DSGE) models and on the implementation of dynamic factor models for shortterm forecasting purposes.
Naslovljena je na nacionalne centralne banke držav članic, ki so sprejele euro („NCB Eurosistema”), napodlagi ločenega sporazuma pa se uporablja tudi za nacionalne centralne banke držav članic zunaj euroobmočja, ki so priključene ali se bodo priključile k sistemu TARGET2 („priključene NCB”).
DSGE models have been developed and used in the past at the ECB for the analysis of a large and growing number of policy issues.
Priloga II k Smernici vsebuje usklajene pogoje za udeležbo v sistemu TARGET2, ki jih morajo v svoji dokumentaciji o sistemu TARGET2 upoštevati vse sodelujoče in priključene nacionalne centralne banke.
This work continued in 2007, with particular emphasis on the impact of structural change (e.g. demographics), external factors (e.g. oil price shocks), productivity developments and financial issues (e.g. credit frictions). Furthermore, work on two medium-
Smernica je bila 8. septembra 2007 objavljena v Uradnem listu Evropske unije in je v vseh uradnih jezikih EU dostopna tudi na spletni strani ECB;
The monetary policy transmission mechanism was investigated from a number of perspectives.
– nacionalni migracijski profili in profili podsistemov so se med letom redno posodabljali.