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UF Unidad de Fomento (Chile)

English translation: The UF (Unidad de Fomento) is an index, not a currency

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:UF Unidad de Fomento (Chile)
English translation:The UF (Unidad de Fomento) is an index, not a currency
Entered by: Robert INGLEDEW
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19:10 Jan 9, 2003
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: UF Unidad de Fomento (Chile)
Hi Proz,
How do I say this in English or do I just leave it as UF (before the amount)??
Thanks
Jenette Holyoak
United Kingdom
Local time: 08:31
The UF (Unidad de Fomento) is an index, not a currency
Explanation:
Something like a consumer price index or a wholesale price index, used by the banks to adjust the monthly payments of housing loans. I will check internet to see if I can find some references in English, but most probably in Spanish.

Hope this helps.

--------------------------------------------------
Note added at 2003-01-09 19:26:15 (GMT)
--------------------------------------------------

There are 98 references in English on the UF. Here are the first ten:
Your search: \"Unidad de Fomento\"+loans Search in: The Web | Directory | News

--------------------------------------------------------------------------------
Web Matches 1 - 20 of 98 | Next 20


CHILE\'S MORTGAGE MARKET (PDF) - ... Mortgage Bonds (Letras de Crédito, LCHR) Bank loans with terms ranging from 5 to 22 years Domestic currency indexed to Unidad de Fomento (Inflation indexed ...
http://www1.worldbank.org/finance/assets/images/Rosselot_sli...


Evaluation of CORFO\'s CUBOS-SME Program: 1991­1995 (PDF) - ... the reluctance of the authorities to guarantee external loans from multilat ... The DU or ``development unit\'\' ( unidad de fomento ) is a re- adjustable monetary ...
http://www.the-financier.com/finance/pv4n1p7.pdf


http://www.worldbank.org/wbi/banking/finsecpolicy/financefor... (MICROSOFT POWERPOINT) - ... Indexation on CPI: denomination mainly in UF (Unidad de Fomento). ... Old instrument revived in the mid-70ies, after the savings-and-loans crash and the ...
http://www.worldbank.org/wbi/banking/finsecpolicy/financefor... search within this site


World Bank Becomes First Foreign Issuer to Launch Bond in Chilean ... - ... These debt instruments are linked to the Unidad de Fomento (UF), the CPI index ... transactions, including time deposits, mortgages and corporate loans and bonds. ...
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:... 34424~theSitePK:4607,00.html search within this site


Amcham - ... A UF (\"Unidad de Fomento\") is a fixed quantity of pesos, which changes - almost always upward ... You pay off mortgages and other loans in the same way, the UF ...
http://www.amchamchile.cl/faq/uf.htm


Economic Data - ... CPI-Indexed Unit of Account Unidad de Fomento (UF) Central Bank of Chile, Chilean ... Average Interest Rates of the Financial System, Deposits and Loans In percent ...
http://www.bcentral.cl/Indicadores/eindicadores.htm search within this site


BIS Policy Papers - Monetary policy transmission: the Chilean ... (PDF) - ... as possible, an unremunerated reserve requirement on foreign loans and deposits ... The main instrument of indexation has been the Unidad de Fomento (UF) , whose ...
http://www.bis.org/publ/plcy03c.pdf search within this site


Securitization of Tourism Securitization of Tourism Related As ... (PDF) - ... Overview ! A-Loans (for IDB\'s own account) & B-Loans (for market participants) ! ... pricing). Same limitations as the A/B loans. ! ...
http://www.caribank.org/downloads/Panel5_KenroyDowers.pdf


The Concession (MICROSOFT POWERPOINT) - ... portfolios of mortgage, education, commercial and other types of loans may be ... insurance companies, paying a coupon of 6.02 percent (Unidad de Fomento), with a ...
http://www.iadb.org/exr/bs/0930/CAPMKT.ppt search within this site


Banco del Estado (PDF) - ... year-end rate, as follows: 2000 1999 Ch.$ Ch.$ Unidad de Fomento (UF) 15,769.92 ... agreements Transactions with resale agreements are recorded as loans at fixed ...
http://www.bancoestado.cl/financial/m_ingle/estados_ingles/S... search within this site



Selected response from:

Robert INGLEDEW
Argentina
Local time: 04:31
Grading comment
THANK YOU!! Great references!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +3UFxxxAOssaRuz
5Unidad de fomentojmdoren
5The UF (Unidad de Fomento) is an index, not a currency
Robert INGLEDEW


  

Answers


13 mins   confidence: Answerer confidence 5/5
The UF (Unidad de Fomento) is an index, not a currency


Explanation:
Something like a consumer price index or a wholesale price index, used by the banks to adjust the monthly payments of housing loans. I will check internet to see if I can find some references in English, but most probably in Spanish.

Hope this helps.

--------------------------------------------------
Note added at 2003-01-09 19:26:15 (GMT)
--------------------------------------------------

There are 98 references in English on the UF. Here are the first ten:
Your search: \"Unidad de Fomento\"+loans Search in: The Web | Directory | News

--------------------------------------------------------------------------------
Web Matches 1 - 20 of 98 | Next 20


CHILE\'S MORTGAGE MARKET (PDF) - ... Mortgage Bonds (Letras de Crédito, LCHR) Bank loans with terms ranging from 5 to 22 years Domestic currency indexed to Unidad de Fomento (Inflation indexed ...
http://www1.worldbank.org/finance/assets/images/Rosselot_sli...


Evaluation of CORFO\'s CUBOS-SME Program: 1991­1995 (PDF) - ... the reluctance of the authorities to guarantee external loans from multilat ... The DU or ``development unit\'\' ( unidad de fomento ) is a re- adjustable monetary ...
http://www.the-financier.com/finance/pv4n1p7.pdf


http://www.worldbank.org/wbi/banking/finsecpolicy/financefor... (MICROSOFT POWERPOINT) - ... Indexation on CPI: denomination mainly in UF (Unidad de Fomento). ... Old instrument revived in the mid-70ies, after the savings-and-loans crash and the ...
http://www.worldbank.org/wbi/banking/finsecpolicy/financefor... search within this site


World Bank Becomes First Foreign Issuer to Launch Bond in Chilean ... - ... These debt instruments are linked to the Unidad de Fomento (UF), the CPI index ... transactions, including time deposits, mortgages and corporate loans and bonds. ...
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:... 34424~theSitePK:4607,00.html search within this site


Amcham - ... A UF (\"Unidad de Fomento\") is a fixed quantity of pesos, which changes - almost always upward ... You pay off mortgages and other loans in the same way, the UF ...
http://www.amchamchile.cl/faq/uf.htm


Economic Data - ... CPI-Indexed Unit of Account Unidad de Fomento (UF) Central Bank of Chile, Chilean ... Average Interest Rates of the Financial System, Deposits and Loans In percent ...
http://www.bcentral.cl/Indicadores/eindicadores.htm search within this site


BIS Policy Papers - Monetary policy transmission: the Chilean ... (PDF) - ... as possible, an unremunerated reserve requirement on foreign loans and deposits ... The main instrument of indexation has been the Unidad de Fomento (UF) , whose ...
http://www.bis.org/publ/plcy03c.pdf search within this site


Securitization of Tourism Securitization of Tourism Related As ... (PDF) - ... Overview ! A-Loans (for IDB\'s own account) & B-Loans (for market participants) ! ... pricing). Same limitations as the A/B loans. ! ...
http://www.caribank.org/downloads/Panel5_KenroyDowers.pdf


The Concession (MICROSOFT POWERPOINT) - ... portfolios of mortgage, education, commercial and other types of loans may be ... insurance companies, paying a coupon of 6.02 percent (Unidad de Fomento), with a ...
http://www.iadb.org/exr/bs/0930/CAPMKT.ppt search within this site


Banco del Estado (PDF) - ... year-end rate, as follows: 2000 1999 Ch.$ Ch.$ Unidad de Fomento (UF) 15,769.92 ... agreements Transactions with resale agreements are recorded as loans at fixed ...
http://www.bancoestado.cl/financial/m_ingle/estados_ingles/S... search within this site





Robert INGLEDEW
Argentina
Local time: 04:31
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 1940
Grading comment
THANK YOU!! Great references!

Peer comments on this answer (and responses from the answerer)
neutral  xxxAOssaRuz: The index is also used as a "currency" in Chile as it has an official exchange rate, you may be thinking of the IPC? The IPC is the consumer index, not the UF
3 mins
  -> I know what it means and it is not a currency, it is a loan adjustment index. Your loans are adjusted by the Unidad de Fomento, but you pay the loan in Chilean Pesos.
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14 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
UF


Explanation:
If you take a ñook at some of the translated Chilean sites below, you'll find that the "UF" is put "tal cual" before the number. These are official sites, the first form the Chilean-American Chamber of COmmerce, the second from the World Bank.

http://www.amchamchile.cl/faq/uf.htm
http://www1.worldbank.org/finance/assets/images/Rosselot_sli...

Hope this helps

--------------------------------------------------
Note added at 2003-01-09 19:30:54 (GMT) Post-grading
--------------------------------------------------

also UK gov site
www.tradepartners.gov.uk/infrastructure/ chile/doingbusiness/

Robert, try to sort that information, Jenette can look up the same thing.
Jenette, I\'m Chilean, so I guarantee that the UF is used like that in translated languages. Think of currencies, this acts the same way (for example, USD is used in hispanic-speaking language to denominate the US dollar, even though the acronym is in English.

xxxAOssaRuz
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
agree  rhandler
7 mins

agree  María Eugenia Wachtendorff: Yes, and it means Deveopment Unit (the concept was created when this country was in need of reconstruction and development... which it is, for that matter!). But it should not be translated.
11 mins

agree  Marianela Melleda
1 hr
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2595 days   confidence: Answerer confidence 5/5
Unidad de fomento


Explanation:
The "Unidad de Fomento", UF or CLF changes its value daily, yo can see the historical and current value on htt://valoruf.cl/


    Reference: http://valoruf.cl/
jmdoren
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