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Deckungsmasse

English translation: cover assets pool

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Deckungsmasse
English translation:cover assets pool
Entered by: davidgreen
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17:03 Mar 11, 2004
German to English translations [PRO]
Bus/Financial - Finance (general)
German term or phrase: Deckungsmasse
And perhaps some assistance with this evil sentence. My translation is below the German original:

Der Gläubiger verzichtet hinsichtlich der Darlehensforderung auf Aufrechnung und Zurückbehaltungsrechte, solange und soweit das Darlehen zum gebundenen Vermögen im Sinne von §54a des Versicherungsaufsichtsgesetzes oder zu einer aufgrund inländischer gesetzlicher vorschriften gebildeten *Deckungsmasse* für Schuldverschreibungen gehört.

The creditor waives settlement per contra and rights of retention with respect to the assignment of the loan, as long as and insofar as the loan pertains to the ?bonded assets? in the sense of § 54a of the insurance supervisory law or to a *gebildeten Deckungsmasse* based on one of the domestically lawful regulations for ?loan stock?; this is also applicable in the event of insolvency.
davidgreen
cover assets pool
Explanation:
This is frequently used when referring to the assets covering 'Pfandbriefe' or similar structures; should work for insurance supervision, too.
Selected response from:

Ralf Lemster
Germany
Local time: 02:14
Grading comment
Thanks both of you, I was out of my league
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1cover assets pool
Ralf Lemster


  

Answers


40 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
cover assets pool


Explanation:
This is frequently used when referring to the assets covering 'Pfandbriefe' or similar structures; should work for insurance supervision, too.

Ralf Lemster
Germany
Local time: 02:14
Specializes in field
Native speaker of: German
PRO pts in category: 751
Grading comment
Thanks both of you, I was out of my league

Peer comments on this answer (and responses from the answerer)
agree  Terry Moran: Yes, apart from the missing hyphen.
11 mins
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