loro-vestiging, nostro vestiging, schaduwadministratie

English translation: Parallel accounts

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:Schaduw administratie
English translation:Parallel accounts
Entered by: xxxjarry
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05:39 Jan 26, 2001
Dutch to English translations [PRO]
Bus/Financial
Dutch term or phrase: loro-vestiging, nostro vestiging, schaduwadministratie
I am currently translating a document that deals with the accounting treatment of certain inter-company items in the annual accounts of a bank.
The sentence in which the three above terms are used is as follows:
"De nostro-vestiging, die in haar eigen administratie een schaduwadministratie voert, [I question the use of the commas here!] verantwoordt in haar opgave de onderlinge verhoudingen conform de opgave van de loro-vestiging".
Can anyone help?
xxxjarry
South Africa
Local time: 11:24
nostro (and loro)-establishment, branch (office)
Explanation:

Nostro and loro (accounts) refer to the bank exchanges under correspondent banks name, cashing services etc, whereby correspondent relations with banks are established and "nostro" ('ours') & "loro" ('theirs') accounts are opened;refers in other words to the correspondent relations with foreign banks, whereby the banks open accounts "nostro" ('ours') and "loro" ('theirs').

In your context:
Bank x is now comparing its nostro accounts with the loro data sent by the corresponding bank

E.g. at: www.forbis.lt/1_a.html
www.bavariabanken.com/e_business

Example: 'They have the possibility of dealing with nostro and loro accounts in national and foreign currency'
Schaduwadministratie = shadow administration

E.g.: www.superparty2000.com/power2.htm

HTH
Selected response from:

Evert DELOOF-SYS
Belgium
Local time: 11:24
Grading comment
I was not really looking for the MEANING of "loro" and "nostro"; I am quite familiar with those terms. As implied by my question, what I was looking for were the common English (not latin) terms for them.

I visited the Forbis site and was appalled at the poor quality of the English used there.

Shadow administration is not an acceptable English translation for "Schaduw administratie". "Administratie" seldom if ever has the same meaning as administration in English anyway. Thanks all the same for your response.
1 KudoZ points were awarded for this answer



Summary of answers provided
naNo comment
xxxjarry
naSorry for answering
Evert DELOOF-SYS
nanostro (and loro)-establishment, branch (office)
Evert DELOOF-SYS


  

Answers


1 hr
nostro (and loro)-establishment, branch (office)


Explanation:

Nostro and loro (accounts) refer to the bank exchanges under correspondent banks name, cashing services etc, whereby correspondent relations with banks are established and "nostro" ('ours') & "loro" ('theirs') accounts are opened;refers in other words to the correspondent relations with foreign banks, whereby the banks open accounts "nostro" ('ours') and "loro" ('theirs').

In your context:
Bank x is now comparing its nostro accounts with the loro data sent by the corresponding bank

E.g. at: www.forbis.lt/1_a.html
www.bavariabanken.com/e_business

Example: 'They have the possibility of dealing with nostro and loro accounts in national and foreign currency'
Schaduwadministratie = shadow administration

E.g.: www.superparty2000.com/power2.htm

HTH

Evert DELOOF-SYS
Belgium
Local time: 11:24
Native speaker of: Native in DutchDutch, Native in FlemishFlemish
PRO pts in pair: 1278
Grading comment
I was not really looking for the MEANING of "loro" and "nostro"; I am quite familiar with those terms. As implied by my question, what I was looking for were the common English (not latin) terms for them.

I visited the Forbis site and was appalled at the poor quality of the English used there.

Shadow administration is not an acceptable English translation for "Schaduw administratie". "Administratie" seldom if ever has the same meaning as administration in English anyway. Thanks all the same for your response.
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1 day 46 mins
Sorry for answering


Explanation:
It wasn't clear/obvious at all that you didn't want to know more about the MEANING of "loro" & "nostro"; anyhow, these terms are -to my knowledge- not translated into English.

The site mentioned, Forbis, might be in 'appalling English' but at least gives you a sample of the use of both terms. Bavariabanken does the same, and quite a few other sites on the internet; just picked out a few.

Only tried to be helpful (not too many people answered) and learning something myself whilst at it.

'Parallel accounts' is indeed far better here, but 'a shadow administration' in your context would be performing (some of) exactly the same tasks as e.g. the communist shadow administration in Vietnam...

Anyway, thanks but no thanks for elaborating on 'administratie'/'administration';

I'll definitely think twice before replying to any of your future questions

Have a nice weekend,

Evert

Evert DELOOF-SYS
Belgium
Local time: 11:24
Native speaker of: Native in DutchDutch, Native in FlemishFlemish
PRO pts in pair: 1278
Login to enter a peer comment (or grade)

1 day 8 hrs
No comment


Explanation:
My question related to the accounting treatment of certain inter-company items in the annual accounts of a bank. A response to it required intimate knowledge of that topic (i.e. the accounting policies generally applied by banks to draw up their financial statements)

xxxjarry
South Africa
Local time: 11:24
Native speaker of: English
PRO pts in pair: 3855
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