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a un año -0,5%

English translation: the one-year Euribor rate less 0.5%

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Spanish term or phrase:	a un año -0,5%
English translation:	the one-year Euribor rate less 0.5%
Entered by:	Sherry Godfrey

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22:57 Aug 19, 2006

Spanish to English translations [PRO]
Insurance

Spanish term or phrase: a un año -0,5%

From a benefit plan description:

Además contará con la garantía de un interés mínimo por sus ahorros referenciado al Euríbor*, de esta forma su patrimonio se irá incrementando de forma constante, evitando sorpresas futuras.

* Se ofrecerá la garantía del Euríbor a un año -0,5% publicado por el Banco de España y correspondiente a la media mensual del mes de diciembre del año anterior.

Does this mean the guarantee is offered after one year at a rate that is 0.5% less than the one published by the Bank of Spain? Thanks again!

Sherry Godfrey KudoZ activity Questions: 1296 (8 open) (62 closed without grading) Answers: 32
Local time: 04:34

the one-year Euribor rate less 0.5%

Explanation:
My quibble with Peter's explanation is that it is not an average for the year, but rather the rate quoted for one-year deposits/instruments.

From http://ww3.ebs.ie/website/website.nsf/b27fddb11e0b67ce80256a...

Euro Interbank Offer Rate (EURIBOR)
This is the rate at which banks will lend money to each other. Banks quote rates for periods from one day to one year. Each business day, the rates from the appropriate European banks are averaged to calculate the official EURIBOR rate for these periods.

Expatica's Spanish news in English: Euribor rate set to rise to ...The one-year Euribor rate – key to mortgages in Spain – is expected to rise to 3.8 percent by the end of 2006. It currently stands at 2.8 percent. ...
www.expatica.com/source/site_article.asp?subchannel_id=81&s... - 52k - Cached - Similar pages

Selected response from:

Marian Greenfield
Local time: 22:34

Grading comment

Thanks again Marian and everyone!
4 KudoZ points were awarded for this answer

Summary of answers provided

5 +1

the 12-month Euribor rate less 0.5%

Peter Haden

the one-year Euribor rate less 0.5%

Marian Greenfield

The Euribor rate published by the bank of Spain less 0.5% is guaranteed for one year

Mark Solomon

Discussion entries: 2

Answers

19 mins confidence:

The Euribor rate published by the bank of Spain less 0.5% is guaranteed for one year

Explanation:
Essentially I agree entirely with Swisstell.

As to the supplementary: this guaranteed interest rate cannot be less than 0.5%, nor greater than the one published annually by the Dn Gl de Seguros [Insurance Supervisory Body].

Hope that helps.

Mark Solomon
Spain
Local time: 04:34
Specializes in field
Native speaker of:

English
PRO pts in category: 32

7 hrs confidence:

peer agreement (net): +1

the 12-month Euribor rate less 0.5%

Explanation:
Check out the websites of the Bank of Spain and the Euribor site .

The Euribor rate is the interbank lending rate fixed by a panel of European banks and is used as a benchmark by insurance companies, amongst others. In this case they are saying that the guaranteed rate is the average 12-month Euribor less 0.5% quoted in the month of December in the preceding year.

It has nothing to do with a one year guarantee as such.

Reference: http://www.euribor.org/
Reference: http://www.bde.es/

Peter Haden
Local time: 04:34
Specializes in field
Native speaker of:

English
PRO pts in category: 74

13 hrs confidence:

the one-year Euribor rate less 0.5%

Marian Greenfield
Local time: 22:34
Native speaker of:

English
PRO pts in category: 305

Grading comment

Thanks again Marian and everyone!

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a un año -0,5%

English translation: the one-year Euribor rate less 0.5%

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a un año -0,5%

English translation: the one-year Euribor rate less 0.5%

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KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

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