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créances représentatives de titres prêtés

English translation: receivables representING loaned shares

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:créances représentatives de titres prêtés
English translation:receivables representING loaned shares
Entered by: DocteurPC
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23:37 Sep 10, 2006
French to English translations [PRO]
Bus/Financial - Accounting / financial statements
French term or phrase: créances représentatives de titres prêtés
une entrée dans les états financiers, sous la section :
État des échéances des créances et des dettes

dans la sous-section: actifs circulants

après : clients douteux ou litigieux (comme assets?)
Autres créances clients
suivi de:
personnel et comptes rattachés

receivables represented by loaned investments?

ça me semble bizarre comme expression - peut-être est-ce ma perception
(trop travaillé ce week-end ;-0)
DocteurPC
Canada
Local time: 09:52
receivables representING loaned shares
Explanation:
Not 100% sure of the vocab. but the principle is OK.

If, someone wishes to stand surety for another party (or provide collateral for themselves) but has no money, you might wish to lend that someone the resources to stand surety but not wish to divest yourself of your investments. It is always possible to lend that person your stock portfolio which they will use as surety to guarantee something.

In your accounts receivable you would therefore have an amount corresponding to the value of the shares you have loaned.

Something like that, anyway. Here's something more authoritative:

Something like that, anyway!

The Issuer may pledge up to the Maximum Number of Shares to the Counterparty to secure its delivery obligations
under the Contract (Pledged Shares). The Counterparty may subsequently borrow or rehypothecate (i.e., pledge while
retaining possession) such Pledged Shares. In addition, the Issuer may lend up to the Maximum Number of Shares to
the Counterparty (Loaned Shares). Pledged Shares that are borrowed and Loaned Shares would not be returned to the
Issuer and re-borrowed during the term of the Contract. The aggregate number of Pledged Shares borrowed from the
Issuer or rehypothecated by the Counterparty, Loaned Shares and Shares delivered by the Counterparty upon settlement
of the Contract (Settlement Shares) will in no event exceed the Maximum Number of Shares.
[…]
Contract terms could provide for physical settlement, cash settlement or net physical settlement. The Counterparty
would not use Pledged Shares, Loaned Shares or Settlement Shares to settle sales made in unregistered, dynamic
hedging transactions.
[…]
Counterparty: a person or entity (such as an investment banking firm) that is a party to a Contract with an Issuer.
The Counterparty engages in hedging transactions to hedge its exposure under the Contract.
Issuer: the issuer of the Shares that are the subject of the Contract between the Issuer and the Counterparty
Loaned Shares: shares the Issuer loans to the Counterparty at the outset of or from time to time during the term of the
Contract
www.akingump.com/docs/publication/647.pdf

Stock lending

The stock borrow-lending scheme is a standardised agreement between two parties on borrowing/lending of Danish and/or foreign shares for a period of time specified in advance.

Stock lending benefits all players in the equity market:
• Stock lending gives the lender as well as the borrower an opportunity to maximise returns and control risks
• Stock lending boosts the market liquidity and leads to sharper prices
• Stock lending supports international interest in the Danish equity market
• Stock lending means quicker and more secure settlement in connection with purchase and sale of shares
• Stock lending allows players to better react to their own expectations for the development in prices
http://www.cse.dk/kf/aktielaan?languageID=1&p_menuid=357
Selected response from:

xxxBourth
Local time: 15:52
Grading comment
basé sur le reste du contexte, je pense que l'explication de Bourth se rapproche le plus - mais la réponse de Tom sera utile dans un autre document - merci à tous
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +1receivables representING loaned sharesxxxBourth
3stock loan and repo claimsxxxAdrian MM.


  

Answers


15 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
receivables representING loaned shares


Explanation:
Not 100% sure of the vocab. but the principle is OK.

If, someone wishes to stand surety for another party (or provide collateral for themselves) but has no money, you might wish to lend that someone the resources to stand surety but not wish to divest yourself of your investments. It is always possible to lend that person your stock portfolio which they will use as surety to guarantee something.

In your accounts receivable you would therefore have an amount corresponding to the value of the shares you have loaned.

Something like that, anyway. Here's something more authoritative:

Something like that, anyway!

The Issuer may pledge up to the Maximum Number of Shares to the Counterparty to secure its delivery obligations
under the Contract (Pledged Shares). The Counterparty may subsequently borrow or rehypothecate (i.e., pledge while
retaining possession) such Pledged Shares. In addition, the Issuer may lend up to the Maximum Number of Shares to
the Counterparty (Loaned Shares). Pledged Shares that are borrowed and Loaned Shares would not be returned to the
Issuer and re-borrowed during the term of the Contract. The aggregate number of Pledged Shares borrowed from the
Issuer or rehypothecated by the Counterparty, Loaned Shares and Shares delivered by the Counterparty upon settlement
of the Contract (Settlement Shares) will in no event exceed the Maximum Number of Shares.
[…]
Contract terms could provide for physical settlement, cash settlement or net physical settlement. The Counterparty
would not use Pledged Shares, Loaned Shares or Settlement Shares to settle sales made in unregistered, dynamic
hedging transactions.
[…]
Counterparty: a person or entity (such as an investment banking firm) that is a party to a Contract with an Issuer.
The Counterparty engages in hedging transactions to hedge its exposure under the Contract.
Issuer: the issuer of the Shares that are the subject of the Contract between the Issuer and the Counterparty
Loaned Shares: shares the Issuer loans to the Counterparty at the outset of or from time to time during the term of the
Contract
www.akingump.com/docs/publication/647.pdf

Stock lending

The stock borrow-lending scheme is a standardised agreement between two parties on borrowing/lending of Danish and/or foreign shares for a period of time specified in advance.

Stock lending benefits all players in the equity market:
• Stock lending gives the lender as well as the borrower an opportunity to maximise returns and control risks
• Stock lending boosts the market liquidity and leads to sharper prices
• Stock lending supports international interest in the Danish equity market
• Stock lending means quicker and more secure settlement in connection with purchase and sale of shares
• Stock lending allows players to better react to their own expectations for the development in prices
http://www.cse.dk/kf/aktielaan?languageID=1&p_menuid=357


xxxBourth
Local time: 15:52
Native speaker of: Native in EnglishEnglish
PRO pts in category: 67
Grading comment
basé sur le reste du contexte, je pense que l'explication de Bourth se rapproche le plus - mais la réponse de Tom sera utile dans un autre document - merci à tous

Peer comments on this answer (and responses from the answerer)
agree  a05
4 hrs
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14 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
stock loan and repo claims


Explanation:
titres prêtés: stock loan cf. loan stock.

The context of titres reçus en pension et acquis à réméré suggests this is an obscure repo/ repurchase agreement scene.



Example sentence(s):
  • Titres empruntés. Créances représentatives de titres reçus en pension. Titres acquis à réméré. Créances représentatives de titres prêtés ...
  • Clients need to ensure that stock loan and repo transactions ... appropriate, a stock claim) to transfer an amount equal to the ...

    Reference: http://www.invesco.fr/vgn/images/portal/cit_3491/32/22/72353...
    Reference: http://www.bankofengland.co.uk/markets/gilts/equitycode97.pd...
xxxAdrian MM.
Local time: 15:52
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 80
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