Translation of "direct liquid application " (English → French) :

1. Where the financial condition of an institution is deemed to be rapidly deteriorating following an assessment based on a set of indicators and appropriate thresholds and in particular where an institution does not meet or is likely to breach the requirements of Directive 2006/48/EC, such as its minimum own funds plus 1,5 %, or is experiencing a rapidly deteriorating liquidity situation, rapidly increasing level of leverage, non-performing loans or concentration of exposures Member States shall ensure that competent authorities, hav ...[+++]e at their disposal, in addition to the measures referred to in Article 136 of Directive 2006/48/EC where applicable, in particular, the following measures:

1. Where an institution infringes or, due inter alia to a rapidly deteriorating financial condition, including deteriorating liquidity situation, increasing level of leverage, non-performing loans or concentration of exposures, as assessed on the basis of a set of triggers, which may include the institution’s own funds requirement plus 1,5 percentage points, is likely in the near future to infringe the requirements ofRegulation (EU) No 575/2013, Directive 2013/36/EU or Title .of Directive 2014/./EU , Member States shall ensure that co ...[+++]mpetent authorities, have at their disposal, without prejudice to the measures referred to in Article 104 of Directive 2013/36/EU where applicable, at least the following measures:

(42) The Commission should adopt the draft regulatory technical standards developed by ESMA regarding the content and specifications of transaction reports, specifying the types of derivative contracts which have a direct, substantial and foreseeable effect within the Union, specifying whether a class of derivatives declared subject to the clearing obligation under Regulation (EU) No 648/2012 or a relevant subset thereof should be traded only on organised trading venues, regarding the liquidity criteria for derivatives to be considere ...[+++]d subject to an obligation to trade on organised trading venues, and concerning the information that the applicant third-country firm should provide to ESMA in its application for registration.

All waste, whether liquid, solid or gaseous, must be disposed of in a hygienic and environmentally friendly way in accordance with Community legislation applicable to that effect, and must not constitute a source of contamination of the food, either directly or indirectly.

The review clause of Directive 98/70/EC, in its 3 paragraph, mentioned that proposals taking into consideration the particular situation of captive fleets and proposals setting levels of specifications applicable to liquid petroleum gas, natural gas and biofuels could be presented by the Commission.

The Directive also includes rules for payment systems which are not based on netting but on gross settlement systems (where each payment order is settled individually on a real time basis as it arises during the day): The proposed Directive would also exempt payment systems from national rules giving retroactive effect to the insolvency of a participant in a payment system, such as the zero-hour rule. Such retroactive effect allows the liquidator of an insolvent institution to challenge payment orders which have already been introduced into the payment system, thus leading to the unwinding of the settlement operation. This unwinding is highly disruptive and ...[+++]can lead to systemic risk. The same is true for revocation of payment orders. Revocation of a large payment order in a payment system during the settlement process, could lead to systemic risk. The Directive would therefore bar revocation of payment orders after the moment contractually fixed by the payment system participants. The insolvency of a participant in a payment system, insofar as it concerned its dealings with the payment system, would be governed by the insolvency law of the country where the payment system was located, according to the proposed Directive. This would avoid conflicts of law and the ensuing legal uncertainty and thus facilitate cross-border participation in payment systems. Collateral security is pledged by the participants in a payment system in order to secure its exposures against the other participants. When collateral security is provided in a cross-border arrangement, its realisation in case of default of the pledging participant can be hindered by conflicts of law which may either weaken the collateral security or even render it unenforceable. In order to ensure collateral security can be realised immediately and in priority over all other creditors (so as not to jeopardise the liquidity of the other participants in the system, i.e. to avoid systemic risk) in the case of a defaul ...