Bundesrechtliche und Landesrechtliche Abwicklungsanstalten
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20:49 Jul 6, 2009
German to English translations [PRO] Bus/Financial - Finance (general)
German term or phrase:Bundesrechtliche und Landesrechtliche Abwicklungsanstalten
These terms refer to two of the types of bad bank models are being proposed by the German government.
'processing institutions' or simply 'bad banks at federal level or 'bad banks at state level'?????
Hi Caitriona, I think this is neither "winding-up" nor an "agency". But if your policy is "what the customer wants, the customer gets", I rather wonder why you didn't ask the customer in the first place. I must say that if I let my customers dictate the terminology I use, I'd have abandoned translation years ago. If we don't know the terminology better than our customers, then we're possibly in the wrong business. Aber nix für ungut...
I doubt that "winding-up" is appropriate here because I'd rather associate this term with "Abwicklung (von Unternehmen)" (in the sense of dissolution/liquidation as part of bankruptcy proceedings or similar). Surely this is not meant here, isn't it?
so I think that "federal and state bad banks" are fine here. They're actually SPVs, of course, but that's getting more technical. Plus, they'll account under German GAAP, avoiding the need to market to market (they'l use a cost model).
The "Abwicklung" refers here to disposing of the toxic assets (i.e. repackaging them and finding some idiot who will buy them) rather than "processing".
Hi Kim, it comes from a text written in relation to the Act on the Further Development of Financial Market Stability recently passed by the Bundestag. I'm not sure if it is a "made up" term.
Explanation: Following Steffen's suggestion, I'll give an answer for this so that at least it can get hard-wired into the system and avoid any wild goose chase if the term comes up again.
so I think that "federal and state bad banks" are fine here. They're actually SPVs, of course, but that's getting more technical. Plus, they'll account under German GAAP, avoiding the need to mark to market (they'll use a cost model).
The "Abwicklung" refers here to disposing of the toxic assets (i.e. repackaging them and finding some idiot who will buy them - for an explanation of the problems involved, see Gillian Tett's article on securitisation in the July 6 edition of the FT, with a similar FTD report on July 7) rather than "processing", which isn't normally an appropriate translation in the field of finance: in the context of loans, for example, "Abwicklungen" is often used in the sense of "workouts".
RobinB Local time: 01:03 Specializes in field Native speaker of: English PRO pts in category: 376
The translation workplace 
peer agreement (net): +1
