# da/ecb-en-da.xml.gz
# en/ecb-en-da.xml.gz
(src)="1"> Navigation Path : Home > The European Central Bank > Retsgrundlaget > Kronologisk liste over alle ECB ‘ s retlige instrumenter > Alle år > CON / 2005/31
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(src)="11"> Udtalelse om et direkte indberetningssystem af betalingsbalancestatistik og statistik over kapitalbalancen over for udlandet ( CON / 2005/31 )
(trg)="11"> Opinion on the introduction of a direct reporting system for balance of payments and international investment position statistics ( CON / 2005/31 )
(src)="12"> Belgien , 29.8.2005 , pdf 23 kB , en .
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(src)="44"> april 1999 ( Millioner EUR ) Aktiver Balance pr. 2 . april 1999 Ændring i forhold til ugen før p.g. af transaktioner revalueringer Passiver Balance pr. 2 .
(trg)="44"> Consolidated weekly financial statement of the Eurosystem as at 2 April 1999 ( EUR millions ) Assets Balance as at 2 April 1999 Difference compared to last week due to transactions revaluations Liabilities Balance as at 2 April 1999 Difference compared to last week due to transactions revaluations
(src)="45"> april 1999 Ændring i forhold til ugen før p.g. af transaktioner revalueringer 1 Guld og tilgodehavender i guld 2 Tilgodehavender i udenlandsk valuta hos residenter uden for euroområdet 2.1 tilgodehavender hos IMF 2.2 banktilgodehavender og værdipapirer , eksterne lån og andre eksterne aktiver
(trg)="45"> 1 Gold and gold receivables 2 Claims on non-euro area residents denominated in foreign currency 2.1 Receivables from the IMF 2.2 Balances with banks and security investments , external loans and other external assets
(src)="46"> 1 Seddelomløb 2 Forpligtelser i euro over for modparter i den finansielle sektor i euroområdet 2.1 anfordringskonti ( herunder reservekravsordningen ) 2.2 indlånsfacilitet 2.3 tidsindskud 2.4 finjusterende markedsoperationer 2.5 indlån i forbindelse med marginbetalinger
(trg)="46"> 1 Banknotes in circulation 2 Liabilities to euro area financial sector counterparties denominated in euro 2.1 Current accounts ( covering the minimum reserve system ) 2.2 Deposit facility 2.3 Fixed-term deposits 2.4 Fine-tuning reverse operations 2.5 Deposits related to margin calls
(src)="47"> 3 Tilgodehavender i udenlandsk valuta hos residenter i euroområdet 4 Tilgodehavender i euro hos residenter uden for euroområdet 4.1 banktilgodehavender , værdipapirer og lån 4.2 tilgodehavender opstået i forbindelse med kreditfaciliteten under ERM II
(trg)="47"> 3 Claims on euro area residents denominated in foreign currency 4 Claims on non-euro area residents denominated in euro 4.1 Balances with banks , security investments and loans 4.2 Claims arising from the credit facility under the ERM II
(src)="48"> 533 3 Udstedte gældsbeviser
(trg)="48"> 533 3 Debt certificates issued
(src)="49"> 4 Forpligtelser i euro over for andre residenter i euroområdet 4.1 offentlig forvaltning og service 4.2 andre forpligtelser
(trg)="49"> 4 Liabilities to other euro area residents denominated in euro 4.1 General government 4.2 Other liabilities
(src)="50"> 5 Udlån til modparter i den finansielle sektor i euroområdet 5.1 primære markedsoperationer 5.2 langfristede markedsoperationer 5.3 finjusterende markedsoperationer 5.4 strukturelle markedsoperationer 5.5 marginal udlånsfacilitet 5.6 udlån i forbindelse med marginbetalinger 5.7 andre former for udlån
(trg)="50"> 5 Lending to financial sector counterparties of euro area 5.1 Main refinancing operations 5.2 Longer-term refinancing operations 5.3 Fine-tuning reverse operations 5.4 Structural reverse operations 5.5 Marginal lending facility 5.6 Credits related to margin calls 5.7 Other lending 5 Liabilities to non-euro area residents denominated in euro 140,975 44,994 0 0 665 178 875 187,687
(src)="51"> 5 Forpligtelser i euro over for residenter uden for euroområdet 140.975 44.994 0 0 665 178 875 187.687 26.640 60.186 81.041 - 5.055 - 11 0 0 494 29 9 - 4.534 568 0 - 407 0 0 0 0 0 0 0 0 - 35 8 Tildelte særlige trækningsrettigheder i IMF 6 Forpligtelser i fremmed valuta over for residenter i euroområdet 7 Forpligtelser i fremmed valuta over for residenter uden for euroområdet 7.1 indlån og andre forpligtelser 7.2 forpligtelser opstået i forbindelse med kreditfaciliteten under ERM II
(trg)="51"> 0 0 0 0 0 0 0 0 6 Liabilities to euro area residents denominated in foreign currency 7 Liabilities to non-euro area residents denominated in foreign currency 7.1 Deposits , balances and other liabilities 7.2 Liabilities arising from the credit facility under the ERM II
(src)="52"> 6 Værdipapirer i euro fra residenter i euroområdet 7 Offentlig forvaltning og service - gæld i euro 8 Andre aktiver
(trg)="52"> 6 Securities of euro area residents denominated in euro 7 General government debt denominated in euro 8 Other assets
(src)="53"> 1 9 Andre forpligtelser 1.408 10 Revalueringskonti 11 Kapital og reserver
(trg)="53"> 1 9 Other liabilities 1,408 10 Revaluation accounts 11 Capital and reserves
(src)="54"> Aktiver i alt På grund af afrunding stemmer totaler / subtotaler ikke nødvendigvis .
(trg)="54"> Total assets Totals / sub-totals may not add up , due to rounding .
(src)="55"> Passiver i alt
(trg)="55"> Total liabilities
(src)="56"> Pressetjenesten , Kaiserstrasse 29 , D-60311 Frankfurt am Main , Tlf : + 49 69-13 44-74 55 , Fax : + 49 69-13 44-74 04
(trg)="56"> Press Division , Kaiserstrasse 29 , D-60311 Frankfurt am Main , Tel : + 49 69-13 44-74 55 , Fax : + 49 69-13 44-74 04
(src)="57"> Ændret forslag til EUROPA-PARLAMENTETS OG RÅDETS DIREKTIV om ændring af direktiv 85/611 / EF om samordning af love og administrative bestemmelser om visse institutter for kollektiv investering i værdipapirer - ( INVESTERINGSINSTITUTTER ) /* KOM / 94/329 ENDEL - COD 453 */ EF-Tidende nr. C 242 af 30/08/1994 s. 0005
(trg)="57"> Amended proposal for a EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE amending Directive 85/611 / EEC on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities - ( UCITS ) /* COM / 94/329 FINAL COD 453 */ Official Journal C 242 , 30/08/1994 P. 0005
(src)="58"> AEndret forslag til Europa-Parlamentets og Raadets direktiv om aendring af direktiv 85/611 / EOEF om samordning af love og administrative bestemmelser om visse institutter for kollektiv investering i vaerdipapirer ( investeringsinstitutter ) ( 94 / C 242/06 ) ( Tekst af betydning for EOES ) KOM ( 94 ) 329 endelig udg . - COD 453 ( Forelagt af Kommissionen i henhold til EF-traktatens artikel 189 A , stk .
(trg)="58"> Amended proposal for a European Parliament and Council Directive amending Directive 85/611 / EEC on the coordination of laws , regulations and administrative provisions relating to undertakings for collective investment in transferable securities ( Ucits ) ( 94 / C 242/06 ) ( Text with EEA relevance ) COM ( 94 ) 329 final COD 453 ( Submitted by the Commission pursuant to Article 189a ( 2 ) of the EC Treaty on 20 July 1994 ) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION , Having regard to the Treaty establishing the European Community , and in particular Article 57 ( 2 ) thereof , Having regard to the proposal from the Commission ( 1 ) , Having regard to the opinion of the Economic and Social Committee ( 2 ) , 1 .
(src)="59"> anvendelsesomraadet for Raadets direktiv 85/611 / EOEF var i foerste omgang begraenset til institutter for kollektiv investering af den aabne type , som udbyder deres andele til offentligheden i Faellesskabet , og hvis eneste formaal er at foretage investering i vaerdipapirer ;
(trg)="59"> Whereas the scope of Council Directive 85/611 / EEC was confined initially to collective investment undertakings of the open-end type which promote the sale of their units to the public in the Community and the sole object of which is investment in transferable securities ;
(src)="60"> det hedder i praeamblen til direktiv 85/611 / EOEF , at de institutter , som direktivet ikke finder anvendelse paa , vil blive gjort til genstand for en senere samordning ;
(trg)="60"> whereas it was envisaged in the preamble to Directive 85/611 / EEC that undertakings falling outside its scope would be the subject of coordination at a later stage ;
(src)="61"> . ] pengemarkedsfonde , cash funds , investeringsinstitutfonde og master-feeder funds [.
(trg)="61"> Whereas money market funds , cash funds , funds of Ucits and master-feeder funds , [. .
(src)="62"> ] anses for at vaere naert beslaegtede med investeringsinstitutter ;
(trg)="62"> ] given their operational features and investment objectives , may be regarded as very close to Ucits ;
(src)="63"> disse fonde boer underlaegges direktiv 85/611 / EOEF , idet [.
(trg)="63"> whereas it is desirable to bring these funds within the scope of Directive 85/611 / EEC since [.
(src)="64"> ] dette kunne goere det lettere at ophaeve begraensningerne i den frie bevaegelighed [. .
(trg)="64"> . ] would facilitate the removal of the restrictions on the free circulation of the units of these funds in the [.
(src)="65"> ] i Den Europaeiske Union for andele i disse fonde ; en saadan samordning er noedvendig for oprettelsen af et europaeisk kapitalmarked ;
(trg)="65"> . ] European Union and such coordination is necessary to bring about a European capital market ;
(src)="66"> medtagelse af pengemarkedsfonde kan ske ved at tillade investeringsinstitutter at investere frit i pengemarkedsinstrumenter , samtidig med at de garantier , der er noedvendige for at give investorerne tilstraekkelig beskyttelse , bevares ;
(trg)="66"> Whereas the inclusion of money market funds is achieved by allowing Ucits to invest freely in money market instruments while preserving the guarantees necessary to give adequate protection to investors ;
(src)="67"> pengemarkedsinstrumenter omfatter de klasser af vaerdipapirer , der normalt handles paa pengemarkedet , f. eks . skatkammerbeviser og papirer udstedt af lokale myndigheder , indlaansbeviser , virksomhedscertifikater ( commercial paper ) og veksler med bankaccept ;
(trg)="67"> whereas money market instruments cover those classes of transferable instruments which are normally dealt in on the money market , for example treasury and local authority bills , certificates of deposit , commercial paper and bankers » acceptances ;
(src)="68"> medlemsstaterne boer have mulighed for at vaelge listen over pengemarkedsinstrumenter , der kan komme i betragtning , paa grundlag af objektive kriterier , saaledes at der kan tages hensyn til de bestaaende strukturforskelle paa pengemarkederne i de forskellige lande ;
(trg)="68"> whereas Member States should have the option of choosing the list of eligible money market instruments on the basis of objective criteria to take account of the existing structural differences in the money markets of different countries ;
(src)="69"> for at tage hensyn til udviklingen paa markedet boer investeringsinstitutters investeringsformaal udvides , saaledes at de [.
(trg)="69"> Whereas , to take market developments into account , it is desirable that the investment object of Ucits is widened in order to permit them [.
(src)="70"> ] faar tilladelse til at investere i banktilskud ;
(trg)="70"> ] to invest in banking deposits ;
(src)="71"> kun investeringsinstitutter , der udelukkende investerer i andele fra andre investeringsinstitutter ( investeringsinstitutfonde ) , kan underlaegges direktiv 85/611 / EOEF ;
(trg)="71"> Whereas only Ucits investing solely in units issued by other Ucits ( fund of Ucits ) may be brought within the scope of Directive 85/611 / EEC ;
(src)="72"> en investeringsinstitutfond kan kendes paa antallet af investeringsinstitutter , den kan investere i ;
(trg)="72"> whereas a Fund of Ucits may be identified on the basis of the number of Ucits in which it can invest ;
(src)="73"> kravet om risikospredning for investeringsinstitutfonde opfyldes indirekte , idet investeringsinstitutfonde kun kan investere i andele udstedt af investeringsinstitutter , der opfylder direktivets kriterier for risikospredning ;
(trg)="73"> whereas the requirement of risk spreading for funds of Ucits is indirectly respected since funds of Ucits can only invest in units issued by Ucits complying with the risk spreading criteria of the Directive ;
(src)="74"> mens det under visse omstaendigheder er acceptabelt , at et investeringsinstitut investerer i et andet investeringsinstitut , er det vigtigt , at en investeringsinstitutfond giver investorerne fyldestgoerende oplysninger om de udgifter , de skal afholde ;
(trg)="74"> whereas , while it is acceptable in certain circumstances for Ucits to invest in another Ucits , it is important that a fund of Ucits ensures investors an adequate degree of disclosure on the costs they incur ;
(src)="75"> 5a .
(trg)="75"> 5a .
(src)="76"> direktiv 85/611 / EOEF boer ogsaa omfatte fonde med master fund-feeder fund-struktur , for saa vidt som de udgoer en enkelt enhed , der giver investorerne samme sikkerhed som traditionelle investeringsinstitutter ;
(trg)="76"> Whereas it is also appropriate to include in the scope of Directive 85/611 / EEC funds having a master fund / feeder fund structure in so far as they constitute a single entity , affording investors the same safeguards as do traditional Ucits ;
(src)="77"> undtagen i forbindelse med udtrykkeligt naevnte undtagelser boer de regler , der er fastsat for godkendelse af og tilsyn med investeringsinstitutter og for disses struktur og aktiviteter samt for de oplysninger , der skal offentliggoeres , ligeledes gaelde for [.
(trg)="77"> Whereas it is appropriate that , except for explicitly mentioned exemptions , the rules laid down for the authorization , supervision , structure and activities of Ucits and for the information to be published should also apply to [.
(src)="78"> ] de fonde , der nu laegges ind under anvendelsesomraadet for direktiv 85/611 / EOEF ;
(trg)="78"> ] the funds now brought within the scope of Directive 85/611 / EEC ;
(src)="79"> af forsigtighedshensyn boer investeringsinstitutter undgaa en alt for stor koncentration af bankindskud i et enkelt kreditinstitut ;
(trg)="79"> Whereas , for prudential reasons , Ucits should avoid assuming an excessive concentration of banking deposits to a single credit institution ;
(src)="80"> der er i de seneste aar vedtaget mange direktiver paa det finansielle omraade ;
(trg)="80"> Whereas many directives have been adopted in the financial field in recent years ;
(src)="81"> visse artikler i direktiv 85/611 / EOEF boer derfor bringes mere i overensstemmelse med de bestaaende bestemmelser i EF-retten ;
(trg)="81"> whereas it seems therefore advisable to bring some Articles of Directive 85/611 / EEC more in line with existing provisions of Community legislation ;
(src)="82"> Raadets direktiv 89/646 / EOEF og direktiv 93/22 / EOEF ( investeringsservicedirektivet ) ligger til grund for bestemmelserne om meddelelse af en enkelt tilladelse til at yde finansielle tjenesteydelser til henholdsvis kreditinstitutter og investeringsselskaber ;
(trg)="82"> Whereas Council Directive 89/646 / EEC and Directive 93/22 / EEC ( Investment Services Directive ) provided the basis for the single licence to supply financial services to credit institutions and investment firms respectively ;
(src)="83"> medlemsstaterne boer derfor ikke begraense investeringsinstitutternes frihed til at vaelge en depositar , der er etableret i en anden medlemsstat og har faaet meddelt tilladelse i henhold til ovennaevnte direktiver ;
(trg)="83"> whereas Member States should not therefore restrict the freedom of Ucits to choose a depositary established in another Member State and authorized under the above Directives .
(src)="84"> det indre marked boer vaere tilgaengeligt for institutter og selskaber i tredjelande for saa vidt angaar depositarfunktionen ;
(trg)="84"> Whereas it is desirable to make the depositary function accessible to institutions and firms of third countries ;
(src)="85"> det er vigtigt at fastsaette , at de regler , der gaelder for saadanne selskaber ikke maa vaere gunstigere end dem , der gaelder for filialer af institutter og selskaber fra en anden medlemsstat ;
(trg)="85"> whereas it is essential to provide that the rules applied to such firms may not be more favourable than those for branches of institutions and firms from another Member State ;
(src)="86"> artikel 21 i direktiv 85/611 / EOEF indeholder reglerne , for , hvornaar investeringsinstitutter har tilladelse til at goere brug af afledte instrumenter ;
(trg)="86"> Whereas Article 21 of Directive 85/611 / EEC contains the rules under which Ucits are allowed to use derivative instruments ;
(src)="87"> af hensyn til investorernes beskyttelse er det noedvendigt at fastsaette harmoniserede regler ved at indfoere en kvantitativ maksimumsgraense for brug af finansielle afledte instrumenter ;
(trg)="87"> whereas it is necessary for the protection of investors to provide for a harmonized framework by introducing a maximum quantitative ceiling for the utilization of financial derivatives ;
(src)="88"> i betragtning af de nye teknikker til styring af portefoeljen , der er opstaaet i de seneste aar , boer investeringsinstitutter - i overensstemmelse med ovennaevnte kvantitative graense - kunne anvende finansielle futures og optioner med henblik paa en midlertidig justering af deres portefoeljes sammensaetning ;
(trg)="88"> whereas , considering the new portfolio management techniques which have developed in recent years , it is desirable that Ucits may use , in compliance with the above quantitative limit , financial futures and options for the purpose of adjusting their portfolio 's composition on a temporary basis ;
(src)="89"> den nuvaerende graense paa 5 % vedroerende investeringsinstitutters mulighed for at investere i andre investeringsinstitutter har vist sig at vaere for streng paa visse markeder ;
(trg)="89"> Whereas the current limit of 5 % concerning the possibility for Ucits of investing in other Ucits proved to be too stringent in certain markets ;
(src)="90"> i artikel 25 , stk . 1 , i direktiv 85/611 / EOEF er det fastsat , at der paa et senere tidspunkt skal ske en samordning af begrebet betydelig indflydelse ;
(trg)="90"> Whereas Article 25 ( 1 ) of Directive 85/611 / EEC envisaged a coordination of the concept of significant influence at a later stage ;
(src)="91"> paa baggrund af de resultater , der i andre direktiver er opnaaet paa dette omraade , boer betydelig indflydelse defineres ved en kvantitativ graense ;
(trg)="91"> whereas , given the result achieved in this field in other directives , it is desirable to define significant influence in terms of a quantitative limit ;
(src)="92"> udgifterne til oversaettelse af dokumenter i forbindelse med handelen paa tvaers af graenserne boer reduceres , dog uden at beskyttelsen af investorerne derved svaekkes ;
(trg)="92"> Whereas it is appropriate to favour the reduction of costs related to translation of documents in the cross-border marketing without impairing the degree of investor protection ;
(src)="93"> der kan fra tid til anden blive behov for tekniske tilpasninger til reglerne i dette direktiv for at tage hensyn til udviklingen paa investeringsfondomraader ;
(trg)="93"> Whereas technical adaptations to the rules laid down in this Directive may from time to time be necessary to take new developments in the investment funds field into account ;
(src)="94"> der boer udarbejdes et generelt kriterium med henblik paa definition af aendringernes tekniske art ;
(trg)="94"> whereas it is desirable to set a general criterion to define the technical nature of modifications ;
(src)="95"> disse tekniske aendringer boer derfor vedtages efter proceduren i direktiv . .
(trg)="95"> technical modifications should be adopted in accordance with the procedure established in Directive .
(src)="96"> / EOEF UDSTEDT FOELGENDE DIREKTIV : Artikel 1 I direktiv 85/116 / EOEF , som aendret ved direktiv 88/220 / EOEF , foretages foelgende aendringer : - AEndring nr. 1 Artikel 1 , stk . 2 , affattes saaledes : » 2 .
(trg)="96"> / EEC , HAVE ADOPTED THIS DIRECTIVE : Article 1 In Directive 85/611 / EEC as amended by Directive 88/220 / EEC the following amendments are made : - Amendment No 1 In Article 1 , paragraph 2 shall be replaced by the following : « 2 .
(src)="97"> 1 , ved « investeringsinstitutter `, foretagender - hvis eneste formaal er at foretage kollektiv investering i vaerdipapirer og indskud hos kreditinstitutter af kapital tilvejebragt ved henvendelse til offentligheden , og hvis virksomhed bygger paa princippet om risikospredning , eller - hvis eneste formaal er at foretage kollektiv investering i indskud hos kreditinstitutter af kapital tilvejebragt ved henvendelse til offentligheden i overensstemmelse med reglerne i artikel 22 , stk . 6 , og hvis virksomhed bygger paa princippet om risikospredning , eller - hvis eneste formaal er at foretage kollektiv investering i andre investeringsinstitutters andele , i overenstemmeles med artikel 26a , af kapital tilvejebragt ved henvendelse til offentligheden , og hvis virksomhed bygger paa princippet om risikospredning , eller - hvis eneste formaal er at foretage kollektiv investering i et enkelt investeringsinstituts andele af kapital tilvejebragt ved henvendelse til offentligheden , saaledes at der i overensstemmelse med artikel 26b skabes en totrinsstruktur defineret som en master-feeder fund , og - hvis andele paa forlangende af ihaendehaverne skal tilbagekoebes eller indloeses direkte eller indirekte for midler af disse institutters formue .
(trg)="97"> For the purposes of this Directive ( i ) subject to Article 2 ( 1 ) , « Ucits » shall be undertakings : - the sole object of which is the collective investment in transferable securities and deposits with credit institutions of capital raised from the public and which operate on the principle of risk-spreading , or - the sole object of which is the collective investment in deposits with credit institutions of capital raised from the public in accordance with the rules laid down in Article 22 ( 6 ) and which operate on the principle of risk-spreading , or - the sole object of which is the collective investment in units of other Ucits in accordance with Article 26a of capital raised from the public and which operate on the principle of risk-spreading , or - the sole object of which is the collective investment in units of one single Ucits of capital raised from the public , so that a two-tier structure defined as a master-feeder fund is created in accordance with Article 26b , and - the units of which are , at the request of holders , re-purchased or redeemed , directly or indirectly , out of those undertakings » assets . Action taken by a Ucits to ensure that the stock exchange value of its units does not significantly vary from their net asset value shall be regarded as equivalent to such re-purchase or redemption .
(src)="98"> Det forhold , at et investeringsinstitut traeffer foranstaltninger med henblik paa , at kursvaerdien af dets andele ikke afviger vaesentligt fra nettovaerdien , ligestilles med saadanne tilbagekoeb eller indloesninger ii ) forstaas ved « vaerdipapirer ` - aktier og andre vaerdipapirer , der kan sidestilles med aktier - obligationer og andre gaeldsinstrumenter der kan omsaettes paa kapitalmarkedet samt
(trg)="98"> ( ii ) « Transferable securities » shall mean : - shares in companies and other securities equivalent to shares in companies , - bonds and other forms of securitized debt , which are negotiable of the capital market , and - any other securities normally dealt in which carry the right to acquire any such transferable securities by subscription or exchange .
(src)="99"> - alle andre vaerdipapirer , der normalt omsaettes , og hvormed saadanne vaerdipapirer kan erhverves ved tegning eller ombytning bortset fra betalingsmidler samt de teknikker og instrumenter , der er naevnt i artikel 21 , stk .
(trg)="99"> Excluding instruments of payments and the techniques and instruments referred to in Article 21 ( 1 ) and ( 3 ) .
(src)="100"> 1 og 3 iii ) forstaas ved « pengemarkedsinstrumenter ` - som ved anvendelsen af dette direktiv sidestilles med vaerdipapirer - de kategorier af instrumenter , der normalt omsaettes paa pengemarkedet , og som medlemsstaterne anser for - at vaere likvide , og - at kunne vaerdiansaettes paa et hvilket som helst tidspunkt eller mindst med det i artikel 34 anfoerte interval bortset fra de teknikker og instrumenter , der er naevnt i artikel 21 , stk . 1 og 3 .
(trg)="100"> ( iii ) « Money market instruments » which , for the purposes of this Directive , shall be regarded as transferable securities , shall mean those classes of transferable instruments normally dealt in on the money market which the Member States consider to : - be liquid , and - have a value which can be accurately determined at any time or at least with the frequency stipulated in Article 34 excluding the techniques and instruments referred to in Article 21 ( 1 ) and ( 3 ) .