billets de trésorerie souverains

English translation: sovereign commercial papers

18:29 Jan 10, 2015
French to English translations [PRO]
Bus/Financial - Investment / Securities / Market update for money market SICAV fund
French term or phrase: billets de trésorerie souverains
Hi

I am translating a newsletter for a SICAV (Money Market Euro) fund and there is a section which states that in the period under review the fund gradually switched out of "billets de trésorerie souverains des pays périphériques dont les rendements ont fortement baissé"

What is the correct investment term for "billets de trésorerie souverains" here?

Thanks in advance,

Mark
Mark Radcliffe
United Kingdom
Local time: 10:08
English translation:sovereign commercial papers
Explanation:
According to several sources including EU and http://fr.wikipedia.org/wiki/Billet_de_trésorerie
http://en.wikipedia.org/wiki/Commercial_paper

Not my field but looked it up out of curiosity.

OECD Sovereign Borrowing Outlook 2014
https://books.google.com/books?isbn=9264207554
OECD - 2014
... wider set of issuance choices, including fixed-coupon bonds, floating rate notes (FRNs) and shortterm paper (Treasury bills or sovereign Commercial Paper).

Goldman Sachs Euro Government Liquid Reserves Fund ...
doc.morningstar.com/.../7ba7870def3d29c32acfedf72394bcfd.msdoc?...
Dec 17, 2012 - Asset Allocation (%). Euro Sovereign Commercial Paper. 35.1. Repurchase Agreement (Government). 34.8. Government Bill. 24.4. Bonds. 4.2.



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Note added at 1 hr (2015-01-10 20:19:30 GMT)
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GLOSSAIRE ABCP (asset-backed commercial paper ou ...
https://www.banque-france.fr/.../doc...
Banque de France
GLOSSAIRE. ABCP (asset-backed commercial paper ou billet de trésorerie adossé à des actifs). Titre de créance négociable dont le paiement des intérêts et.

--------------------------------------------------
Note added at 17 hrs (2015-01-11 11:51:13 GMT)
--------------------------------------------------

External Debt Statistics: Guide for Compilers and Users
https://books.google.com/books?isbn=1589062973 -
International Monetary Fund - 2003
Billet ( Promissory Note ) Promesse inconditionnelle de payer une certaine somme à ... Billet de trésorerie ( Commercial Paper )Promesse non garantie , émise au ... Bon du Trésor ( Treasury Bills ) Forme courante de créance souveraine
Selected response from:

writeaway
Grading comment
thanks
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3sovereign treasury bills
Ana Vozone
3 +2sovereign commercial papers
writeaway
4Sovereign Treasury Bonds
Kieran Mc Kenna


Discussion entries: 1





  

Answers


14 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
sovereign treasury bills


Explanation:
Suggestion.

Example sentence(s):
  • Assuming safer sovereign treasury bills earn 2.5 %, a risk adjusted return on capital (RAROC) to an MFIF investor would earn only 2.5 % net. If an MFI risk ...
  • Sovereign Treasury bills could provide an alternative for some, but that product\'s yields are too low for many ABCP investors. One possible ...
Ana Vozone
Local time: 10:08
Works in field
Native speaker of: Native in PortuguesePortuguese
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  philgoddard: That must have taken you hours to find :-)
21 mins
  -> Thank you, Phil

agree  Chakib Roula
2 hrs
  -> Thank you, Chakib

agree  Edgar Bettridge
21 hrs
  -> Thank you, Edgar
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
sovereign commercial papers


Explanation:
According to several sources including EU and http://fr.wikipedia.org/wiki/Billet_de_trésorerie
http://en.wikipedia.org/wiki/Commercial_paper

Not my field but looked it up out of curiosity.

OECD Sovereign Borrowing Outlook 2014
https://books.google.com/books?isbn=9264207554
OECD - 2014
... wider set of issuance choices, including fixed-coupon bonds, floating rate notes (FRNs) and shortterm paper (Treasury bills or sovereign Commercial Paper).

Goldman Sachs Euro Government Liquid Reserves Fund ...
doc.morningstar.com/.../7ba7870def3d29c32acfedf72394bcfd.msdoc?...
Dec 17, 2012 - Asset Allocation (%). Euro Sovereign Commercial Paper. 35.1. Repurchase Agreement (Government). 34.8. Government Bill. 24.4. Bonds. 4.2.



--------------------------------------------------
Note added at 1 hr (2015-01-10 20:19:30 GMT)
--------------------------------------------------

GLOSSAIRE ABCP (asset-backed commercial paper ou ...
https://www.banque-france.fr/.../doc...
Banque de France
GLOSSAIRE. ABCP (asset-backed commercial paper ou billet de trésorerie adossé à des actifs). Titre de créance négociable dont le paiement des intérêts et.

--------------------------------------------------
Note added at 17 hrs (2015-01-11 11:51:13 GMT)
--------------------------------------------------

External Debt Statistics: Guide for Compilers and Users
https://books.google.com/books?isbn=1589062973 -
International Monetary Fund - 2003
Billet ( Promissory Note ) Promesse inconditionnelle de payer une certaine somme à ... Billet de trésorerie ( Commercial Paper )Promesse non garantie , émise au ... Bon du Trésor ( Treasury Bills ) Forme courante de créance souveraine

writeaway
Native speaker of: Native in EnglishEnglish
PRO pts in category: 11
Grading comment
thanks

Peer comments on this answer (and responses from the answerer)
agree  Yolanda Broad
30 mins

agree  mchd
43 mins

agree  Rachel Fell: www.goldmansachs.com/gsam/docs/funds.../mfur_elrf_ds_en.pdf
1 hr

neutral  philgoddard: You haven't explained why you think Ana's answer is wrong, or what the difference (if any) is. Surely commercial paper is papiers commerciaux?// I didn't say anything about your references. I just asked two perfectly valid questions.
4 hrs
  -> is there a reason you are so sure that my refs (including la Banque de France) are faulty?

disagree  rkillings: Contradiction in terms. Only private-sector entities issue 'commercial paper' -- as the name implies! Sovereigns issue short-term debt instruments known generically as bills or discount bonds./And in usage, the 'paper' is a mass noun never pluralised!
2 days 4 hrs
  -> I know you are an expert. As I said, this isn't my field (understatement of the century). I posted what I found and thought the Banque de France and other sources were reliable.
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1 day 2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Sovereign Treasury Bonds


Explanation:
A government issued bond

Kieran Mc Kenna
Spain
Local time: 11:08
Native speaker of: Native in EnglishEnglish
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