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comfort account

Russian translation: SCHIOT PODDERZHKI, VSPOMOGATEL'NIY or POGLOSCHIAUSCHII SCHIOT

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11:44 Apr 20, 2000
English to Russian translations [PRO]
Bus/Financial
English term or phrase: comfort account
Same mortgage related text. Quote: "Deposits are offered in form on demand deposits, term deposits, excrow accounts, comfort accounts designed to simplify mortgage payments..."

Thank you!
markbt
Russian translation:SCHIOT PODDERZHKI, VSPOMOGATEL'NIY or POGLOSCHIAUSCHII SCHIOT
Explanation:
It's quite a rare slangish usage, it's the same as a so-called "cushion account", which in your case basically means the account where you put the funds to be used in case you may not have sufficient means to pay the mortgage interest some day. In other words, money for the rainy day. In Russian there is no specific term for this, but I think "schiot podderzhki" or "vspomogatel'niy schiot" would be the most appropriate rendition. Both have a soothing connotation that was obviously important in the term "comfort account".
An example from a bank's web-page:
Cash Comfort SPX account: Range 12% to 16%. This account is for contingencies; future "unknowns."
There is, however, a term "pogloschiaiuschiy schiot" in Russian banking which stands for the "absorption account". Here, a certain part is split each month in order to be allocated for a certain transaction or operation. This could also be the case, though I doubt it.
Selected response from:

kmagzoum
Grading comment
Thank you very much! Your explanation was most helpful! Best regards.
4 KudoZ points were awarded for this answer

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Summary of answers provided
naReservnyi schet or extrennyi schetStan Danysh
naSCHIOT PODDERZHKI, VSPOMOGATEL'NIY or POGLOSCHIAUSCHII SCHIOT
kmagzoum


  

Answers


51 mins
SCHIOT PODDERZHKI, VSPOMOGATEL'NIY or POGLOSCHIAUSCHII SCHIOT


Explanation:
It's quite a rare slangish usage, it's the same as a so-called "cushion account", which in your case basically means the account where you put the funds to be used in case you may not have sufficient means to pay the mortgage interest some day. In other words, money for the rainy day. In Russian there is no specific term for this, but I think "schiot podderzhki" or "vspomogatel'niy schiot" would be the most appropriate rendition. Both have a soothing connotation that was obviously important in the term "comfort account".
An example from a bank's web-page:
Cash Comfort SPX account: Range 12% to 16%. This account is for contingencies; future "unknowns."
There is, however, a term "pogloschiaiuschiy schiot" in Russian banking which stands for the "absorption account". Here, a certain part is split each month in order to be allocated for a certain transaction or operation. This could also be the case, though I doubt it.



    Reference: http://www.maxndx.com/allocating.shtml
kmagzoum
PRO pts in pair: 8
Grading comment
Thank you very much! Your explanation was most helpful! Best regards.
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8 hrs
Reservnyi schet or extrennyi schet


Explanation:
Comfort accounts are intended to provide for inflation, redundancy of assets, and reasonable contingencies so that the retirement portfolio will be able to provide the initial purchasing power into the future. In other words, a comfort account is a component of a retirement portfolio which is invested in the safest instrument with a goal of only PRESERVING the purchasing power of the initial investment. The other components of the retirement portfolio are then used to grow the retirement fund beyond the initial investment (i.e. provide REAL return on investment).

In the mortgage industry, comfort accounts are used to ensure that the mortgage payments will be made even in the event when everything goes wrong for the loanee. In that respect comfort accounts can be translated as "reservnyi schet", or "extrennyi schet".

Stan Danysh
PRO pts in pair: 12
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