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créances mobilières

English translation: asset-backed receivables

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10:48 Jan 21, 2004
French to English translations [PRO]
Bus/Financial - Finance (general) / financial
French term or phrase: créances mobilières
A debt collection company contract for services.

"XXX procède en France à l'acquisition de portefeuilles de créances mobilières ou immobilières auprès d'institutions financières. Une fois ces portefeuilles acquis, elle en assure la gestion.

Pour procéder au recouvrement de ces créances, XXX a souhaité faire appel à une entreprise spécialisée dans le domaine du recouvrement de créances et disposant du savoirfaire et des compétences techniques lui permettant de procéder de façon efficace et professionnelle à ce recouvrement."

I have in my notes that "créances immobilières" are "capitalised receivables" but I don't know what "créances mobilières" are.
Mary Lalevee
United Kingdom
Local time: 21:04
English translation:asset-backed receivables
Explanation:
as opposed to mortgage-backed receivables for créances immobilières.

... Counsel to a manufacturing company in its $150 million asset-backed receivables
financing transaction funded by Citicorp as lead investor, including the ...
63.104.208.130/Insert.nsf/0/ f7485874a7335103852565ad005d7558?


Apr-Jun '02 News
... higher percentages for other issuers. Navistar had nearly $3 billion
in asset-backed receivables as of Oct. 31, according to the ...
www.narse.org/BreakNews/BN Apr-Jun '02.htm - 101k

... profits or capital from the funds. The assets of the funds are mainly
mortgage-backed receivables. The source of payment of interest ...
www.freshfields.com/places/asia/publications/ newsletters/asia_sfinance/3862.pdf

... 1. Securitisation is the process by which financial assets such as loan receivables,
mortgage backed receivables, credit card balances, hire-purchase debtors ...
www.icai.org/resource/accoun_securi.html - 57k





--------------------------------------------------
Note added at 6 hrs 59 mins (2004-01-21 17:47:23 GMT)
--------------------------------------------------

To answer lenkl\'s comments, here is what I found in Termium (if it can be of any help...):

asset-backed security Source CORRECT, GÉNÉRIQUE

titre adossé à des créances mobilières Source CORRECT, MASC, SPÉCIFIQUE

DEF – A certificate of participation issued to investors by an organization that has gathered a number of assets (other than mortgage) into a pool. Each certificate represents a claim on the pool, the underlying assets serving as collateral.

DEF – Titre de créance ou de participation issu d\'une opération de titrisation de créances autres que des créances hypothécaires (prêts commerciaux, soldes de cartes de crédit, prêts pour achats d\'automobiles ou autres créances résultant d\'opérations de crédit mobilier). Ces titres sont représentatifs d\'un portefeuille de créances, regroupées et cédées à l\'émetteur par l\'établissement initiateur des crédits. Les flux en capital et en intérêts issus des créances peuvent être transmis aux porteurs des titres avec ou sans transformation, selon le cas.

3. Domaine(s)
– Loans
– Investment
– Negotiable Instruments (Commercial Law)

Domaine(s)
– Prêts et emprunts
– Investissements et placements
– Effets de commerce (Droit)

mortgage-backed security Source CORRECT

titre adossé à des créances immobilières Source CORRECT, MASC

DEF – An investment security representing a pool of mortgages.

DEF – Titre de créances ou de participation issu d\'une opération de titrisation de créances garanties par une hypothèque immobilière. Ces titres sont représentatifs d\'un portefeuille de prêts hypothécaires, regroupés et cédés à l\'émetteur par l\'établissement initiateur des crédits immobiliers. Les flux en capital et en intérêts issus des créances hypothécaires sous-jacentes peuvent être transmis aux porteurs des titres avec ou sans transformation, selon le cas.



a \"créance\" (receivable) is always \"mobilière\" (personal property) by nature (vs. \"immobilière\" (real property)), so here the mobilière vs. immobilière must refer to the type of property securing the receivable. I agree that real property is also an asset but sometimes we have to make do with what is used in the field.
Selected response from:

NatalieD
Grading comment
Thanks - and thanks to everyone who contributed. This is what I used in the end.
Mary
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1investments / paperzaphod
4(movables or immovables claim portfolios)
Abdellatif Bouhid
4receivables/claims from transferable securities or property/real estateMargaret Lomas
3[mortgages and] receivables
lenkl
3asset-backed receivables
NatalieD


Discussion entries: 1





  

Answers


27 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
investments / paper


Explanation:
receivables in general from investments, shares, stocks and bonds etc.... not real estate based.

zaphod
Local time: 22:04
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
agree  lenkl: The idea is corect: "other" receivables, but seldom from such assets (more likely trade receivables, notes, etc.)
2 hrs
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
receivables/claims from transferable securities or property/real estate


Explanation:
This is how I would translate it - it does seem to be quite a tricky distinction but I think that créances mobilières means bonds/debentures although I have found uses of it with the more general sense of transferable securities. Créances immobilières is more straight forward with references to real-estate/property claims/debts/receivables in Kudoz glossary.

--------------------------------------------------
Note added at 2004-01-21 16:51:50 (GMT)
--------------------------------------------------

Having done more research I think that NatalieD has a point. There is a Canadian finance website, with both French and English versions (www.scotiacapital.com) which translates \'titres adossés a des créances mobilières\' as \'asset-backed securities\'. www.investopedia.com gives a definition of asset-backed securities as \'a security backed by notes or receivables against assets other than real estate.\'

Mortgage-backed securities are defined as \'an investment instrument that represents ownership of an undivided interest in a group of mortgages\', which could fit the context.

Margaret Lomas
Local time: 21:04
Specializes in field
Native speaker of: Native in EnglishEnglish
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
créances mobilières
(movables or immovables claim portfolios)


Explanation:
portefeuilles de créances mobilières ou immobilières

movables or immovables claim portfolios


movable:

An item of movable property; also A right or interest (as a chattel mortgage) in an item of movable property (bonds and annuities are incorporeal movables) -- often used in pl.

immovable:

An item of immovable property (as land, standing timber, or a building) (a manufactured home placed upon a lot or tract of land shall be an immovable - Louisiana Revised Statutes); also An interest or right (as a servitude) in an item of immovable property (a predial servitude is an incorporeal immovable - Louisiana Civil Code) -- often used in pl.

claim:

A demand for something (as money) due or believed to be due;
A title to something (as a debt or privilege) in the possession of another

Merriam-Webster's Dictionary of Law 1996

portfolio:

A group of investments held by an investor, investment company, or financial institution

The American Heritage® Dictionary of the English Language

claim portfolio: many google hits such as this one:




    Reference: http://www.realbohemia.cz/main0e.htm
Abdellatif Bouhid
Local time: 16:04
Native speaker of: Native in ArabicArabic, Native in FrenchFrench
PRO pts in category: 12
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
créances mobilières
asset-backed receivables


Explanation:
as opposed to mortgage-backed receivables for créances immobilières.

... Counsel to a manufacturing company in its $150 million asset-backed receivables
financing transaction funded by Citicorp as lead investor, including the ...
63.104.208.130/Insert.nsf/0/ f7485874a7335103852565ad005d7558?


Apr-Jun '02 News
... higher percentages for other issuers. Navistar had nearly $3 billion
in asset-backed receivables as of Oct. 31, according to the ...
www.narse.org/BreakNews/BN Apr-Jun '02.htm - 101k

... profits or capital from the funds. The assets of the funds are mainly
mortgage-backed receivables. The source of payment of interest ...
www.freshfields.com/places/asia/publications/ newsletters/asia_sfinance/3862.pdf

... 1. Securitisation is the process by which financial assets such as loan receivables,
mortgage backed receivables, credit card balances, hire-purchase debtors ...
www.icai.org/resource/accoun_securi.html - 57k





--------------------------------------------------
Note added at 6 hrs 59 mins (2004-01-21 17:47:23 GMT)
--------------------------------------------------

To answer lenkl\'s comments, here is what I found in Termium (if it can be of any help...):

asset-backed security Source CORRECT, GÉNÉRIQUE

titre adossé à des créances mobilières Source CORRECT, MASC, SPÉCIFIQUE

DEF – A certificate of participation issued to investors by an organization that has gathered a number of assets (other than mortgage) into a pool. Each certificate represents a claim on the pool, the underlying assets serving as collateral.

DEF – Titre de créance ou de participation issu d\'une opération de titrisation de créances autres que des créances hypothécaires (prêts commerciaux, soldes de cartes de crédit, prêts pour achats d\'automobiles ou autres créances résultant d\'opérations de crédit mobilier). Ces titres sont représentatifs d\'un portefeuille de créances, regroupées et cédées à l\'émetteur par l\'établissement initiateur des crédits. Les flux en capital et en intérêts issus des créances peuvent être transmis aux porteurs des titres avec ou sans transformation, selon le cas.

3. Domaine(s)
– Loans
– Investment
– Negotiable Instruments (Commercial Law)

Domaine(s)
– Prêts et emprunts
– Investissements et placements
– Effets de commerce (Droit)

mortgage-backed security Source CORRECT

titre adossé à des créances immobilières Source CORRECT, MASC

DEF – An investment security representing a pool of mortgages.

DEF – Titre de créances ou de participation issu d\'une opération de titrisation de créances garanties par une hypothèque immobilière. Ces titres sont représentatifs d\'un portefeuille de prêts hypothécaires, regroupés et cédés à l\'émetteur par l\'établissement initiateur des crédits immobiliers. Les flux en capital et en intérêts issus des créances hypothécaires sous-jacentes peuvent être transmis aux porteurs des titres avec ou sans transformation, selon le cas.



a \"créance\" (receivable) is always \"mobilière\" (personal property) by nature (vs. \"immobilière\" (real property)), so here the mobilière vs. immobilière must refer to the type of property securing the receivable. I agree that real property is also an asset but sometimes we have to make do with what is used in the field.

NatalieD
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 32
Grading comment
Thanks - and thanks to everyone who contributed. This is what I used in the end.
Mary

Peer comments on this answer (and responses from the answerer)
neutral  lenkl: Good idea, but what about unsecured receivables? Are they not also "mobilières"? And is real property not also an asset so that "créances immobilitères" are also asset-backed?
2 hrs
  -> see my note, tell me what you think. In my opinion, this is a tough one...
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
créances mobilières
[mortgages and] receivables


Explanation:
I believe that immobilières and mobilières are used here in the same sense and in "real and personal property" ("capitalised receivables" stands for "créances immobilisées" not "immobilières") or "real and chattel"; in the case of debt (or receivables), I can't think of another term that would encompass all non-property backed debt.
Securitisation schemes can encompass "mortgages and receivables"

... flow securitizations involving mortgages, oil export receivables, airline receivables,remittances and ... First residential mortgage securitization with political ...
www.akllp.com/EventsMediaCenter/ ClientAlerts/Securitization.pdf

--------------------------------------------------
Note added at 6 hrs 12 mins (2004-01-21 17:00:48 GMT)
--------------------------------------------------

A \"prêt immobilier\" is a real property loan (mortage loan is actually too restrictive) and you can speak of \"personal and real property loans\"; but what is the equivalent for receivables?

--------------------------------------------------
Note added at 21 hrs 43 mins (2004-01-22 08:32:03 GMT)
--------------------------------------------------

A problem here is that the term “créances mobilières” seems to come up only in the context of debt securitization (asset-back securities): “asset and mortgage-backed securities” is the equivalent of “titres adossés à des créances mobilières et immobilières” (see http://www.scotiacapital.com/Products&Services/PR_Investment... in EN and http://www.scotiacapital.com/French/Products&Services/fPR_In... in French).
In the question here, XXX is evidently in the debt-securitization business and purchases receivables from third parties, probably for assignment to “fonds communs de créances” (debt securitization funds). Nathalie’s suggestion of “asset-backed receivables” is probably the best, therefore, since the term is used to refer to such things as credit-card receivables and other unsecured debt. As if often the case when problems of this type arise is that the original French text is somewhat imprecise.
Good luck.


lenkl
Local time: 22:04
Specializes in field
PRO pts in category: 110
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