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Spanish to English translations [PRO]
Finance (general) | | Spanish term or phrase: cédulas hipotecarias multicedentes retenidas en balance | As appears below thanks
XXX% del total de renta fija hipotecaria son emisiones de cédulas hipotecarias multicedentes retenidas en balance por €XXX millones. |
| | | On-balance sheet transferable/assignable covered bonds. | Explanation:
To distinguish it from mortgage-backed securities that are off-balance sheet.
Also, the use of "multi" in the English translation is redundant, in my view. There are no google hits prefixing multi to transferable or assignable.
But to say MBS and covered bonds are “nearly identical”—that the differences between them are “essentially cosmetic”
http://www.coveredbondinvestor.com/news/are-cbs-and-mortgage...
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Note added at 1 day4 hrs (2010-06-08 09:50:57 GMT)
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PIMCO - Covered Bond Basics
By contrast, mortgage- and asset-backed securities are typically off-balance-sheet ... covered bonds backed by mortgages, known as Cédulas Hipotecarias, ...
europe.pimco.com/LeftNav/.../Covered+Bond+Basics.htm - Cached - Similar
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| Selected response from:
argosys
Local time: 14:49
| Grading comment Thanks!
4 KudoZ points were awarded for this answer |
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1 hr confidence: 
8 hrs confidence:  multi-assignable (or multi-transferable) mortgage bonds withheld in the balance
Explanation:
Mi sugerencia.
cedentes=assignable, transferable
Ref, Steven Kaplan, Business Dictionary.
| Leonardo Lamarche
Venezuela
Local time: 02:19
Specializes in field
Native speaker of: Spanish
PRO pts in category: 90
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