unechtes Pensionsgeschaeft
English translation: reverse purchase agreement
| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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| 11:59 Nov 10, 2001 |
| German to English translations [PRO] Bus/Financial - Investment / Securities | |||||||
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|  Selected response from: pschmitt Local time: 05:44 | ||||||
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| Summary of answers provided | ||||
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| 5 +1 | securities sales and repurchase agreement |
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| 4 | reverse repurchase agreement |
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| 4 -1 | fictitious |
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| 4 -1 | false |
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Answers
13 mins confidence: 
peer agreement (net): -1
peer agreement (net): -1fictitious Explanation: this is a fictitious or bogus transaction |
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Grading comment
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| The asker has declined this answer Comment: A literal translation is not the right terminus technicus. | ||
30 mins confidence:
reverse repurchase agreement Explanation: "Pensionsgeschäfte: Befristete Übertragung von Wertpapieren des Pensionsgebers an den Pensionsnehmer. Der Pensionsgeber erhält für die Dauer des Pensionsgeschäftes Liquidität im Wert der Anleihe, während der Pensionsnehmer im Gegenzug eine mit dem Wertpapier abgesicherte Veranlagung zu Geldmarktkonditionen tätigt. Im Falle unechter Pensionsgeschäfte ist laut § 50 BWG der Pensionsnehmer berechtigt, aber nicht gezwungen, die Vermögensgegenstände zurückzuübertragen. Unechte Pensionsgeschäfte sind in der Bilanz des Pensionsnehmers auszuweisen." See link below. Hope this helps Reference: http://staatsschuldenausschuss.at/html/inhalt/glossar.htm |
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7 hrs confidence: peer agreement (net): -1
peer agreement (net): -1false Explanation: if it wasn't terminus technicus, one could even say "phoney/phony", a little stronger of a word though none needed |
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| The asker has declined this answer Comment: Does not help in this case. | ||
10 hrs confidence: peer agreement (net): +1
peer agreement (net): +1securities sales and repurchase agreement Explanation: See section 340 (1)-(5) HGB [http://dejure.org/gesetze/HGB/340b.html] for the definitions. Strictly speaking, one would have to qualify the fact that the repo lender has the right, but not the obligation, to return the underlying securities. In practice, however, this distinction is not expressly made (not least because this concept does not exist in a similar way in English law, for instance) If you would like to distinguish between the two in your English text, one possibility is to refer to "echte Pensionsgeschäfte" as "repo/reverse repo transactions" (adding the German term in brackets in each case, at least when using the term for the first time). Note that "reverse" only denotes one particular side to the transaction. Own professional experience in the financial markets Own experience in translating various annual reports (incl. Dresdner Bank) |
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