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faith and credit backing

German translation: völlige Anerkennung durch... ODER volle Kredit der... ; gesichert durch...; garantiert durch...

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23:10 Feb 18, 2005
English to German translations [PRO]
Bus/Financial - Finance (general)
English term or phrase: faith and credit backing
Most pooled financing facilities are created by state law and have no taxing authority. In most cases, they are considered independent authorities and are not backed by the credit of the state government. In some cases they are located within and subordinate to other parts of their state government. However, in these cases they generally do not have the full *******faith and credit backing******* of the state government.
Elvira Stoianov
Luxembourg
Local time: 09:53
German translation:völlige Anerkennung durch... ODER volle Kredit der... ; gesichert durch...; garantiert durch...
Explanation:
I decided to change my answer on the basis of these considerations:

I have found two meanings for "full faith and credit":

1.
full faith and credit
n. the provision in Article IV, Section 1 of the U.S. Constitution which states: "Full faith and credit shall be given in each State to the public acts, records and judicial proceedings of every other state." Thus, a judgment in a lawsuit or a criminal conviction rendered in one state shall be recognized and enforced in any other state, so long as the original judgment was reached by due process of law. Each state has a process for obtaining an enforceable judgment based on a "foreign" (out-of-state) judgment.

2.
The term "full faith and credit" is also used to describe a type of of "security" for the creditworthiness (=Bonität) of some instrument or institution; it does not mean "creditworthiness" alone, but rather it is the reason for the "creditworthiness" because it is backed by the state, i.e. if the institution fails to meet its financial obligations, the state government will step in to cover that institution (hence my originally suggested "Bürgschaft", which describe what is taking place).

I like Johanna's "genießen", which fits well with the rest. :-)
Selected response from:

Derek Gill Franßen
Germany
Local time: 09:53
Grading comment
thank you all for your input.
I have chosen this answer because first of all I had to understand what this is about, as I am not translating into german
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1...(genießen nicht dasselbe) Vertrauen und...
Johanna Timm, PhD
3völlige Anerkennung durch... ODER volle Kredit der... ; gesichert durch...; garantiert durch...
Derek Gill Franßen


  

Answers


4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
...(genießen nicht dasselbe) Vertrauen und...


Explanation:
... nicht dieselbe kreditmäßige Unterstützung...

Johanna Timm, PhD
Canada
Local time: 00:53
Native speaker of: Native in GermanGerman
PRO pts in category: 107

Peer comments on this answer (and responses from the answerer)
agree  Ralf Lemster: ...und haben nicht die gleiche Bonität...
1 hr
Login to enter a peer comment (or grade)

11 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
full faith and credit backing
völlige Anerkennung durch... ODER volle Kredit der... ; gesichert durch...; garantiert durch...


Explanation:
I decided to change my answer on the basis of these considerations:

I have found two meanings for "full faith and credit":

1.
full faith and credit
n. the provision in Article IV, Section 1 of the U.S. Constitution which states: "Full faith and credit shall be given in each State to the public acts, records and judicial proceedings of every other state." Thus, a judgment in a lawsuit or a criminal conviction rendered in one state shall be recognized and enforced in any other state, so long as the original judgment was reached by due process of law. Each state has a process for obtaining an enforceable judgment based on a "foreign" (out-of-state) judgment.

2.
The term "full faith and credit" is also used to describe a type of of "security" for the creditworthiness (=Bonität) of some instrument or institution; it does not mean "creditworthiness" alone, but rather it is the reason for the "creditworthiness" because it is backed by the state, i.e. if the institution fails to meet its financial obligations, the state government will step in to cover that institution (hence my originally suggested "Bürgschaft", which describe what is taking place).

I like Johanna's "genießen", which fits well with the rest. :-)

Derek Gill Franßen
Germany
Local time: 09:53
Specializes in field
Native speaker of: English
PRO pts in category: 113
Grading comment
thank you all for your input.
I have chosen this answer because first of all I had to understand what this is about, as I am not translating into german
Login to enter a peer comment (or grade)




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