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valeurs admises par la Banque de France en garantie d'avances

English translation: securities accepted by the Bank of France

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17:00 Jan 17, 2002
French to English translations [PRO]
Bus/Financial
French term or phrase: valeurs admises par la Banque de France en garantie d'avances
Extrait des statuts d'une association :
Les capitaux mobiliers sont placés en titres nominatifs ou en valeurs admises par la Banque de France en garantie d'avances.

Possible faute d'orthographe...
Yannick MARCHEGAY
France
Local time: 02:53
English translation:securities accepted by the Bank of France
Explanation:
I think that the BdeF (as do most central banks)lists types of securities which it considers as good as cash. One of its functions is to specify the type of assets that can be used by banks as liquid "no-risk" assets when calculating their reserve requirements, capital base etc. The purpose of this clause of the statute is to ensure that the company can only invest its liquid funds (capitaux mobiliers) in safe, non-risky assets.
Selected response from:

David Boorer
Local time: 01:53
Grading comment
Thank you a lot
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +4securities accepted by the Bank of FranceDavid Boorer
5 +1securities eligible for the Banque de France
Eva Blanar
5securities underwritten by the Bank of France
Yolanda Broad
4securities accepted by the Banque de France as collateral
Peter Freckleton
4in the form of securities accepted by the Banque de France
Parrot


  

Answers


10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
in the form of securities accepted by the Banque de France


Explanation:
as guarantee of advance (payment).


    Cf., Business French, Collin, Laurendeau, et al
Parrot
Spain
Local time: 02:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861
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18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
securities accepted by the Bank of France


Explanation:
I think that the BdeF (as do most central banks)lists types of securities which it considers as good as cash. One of its functions is to specify the type of assets that can be used by banks as liquid "no-risk" assets when calculating their reserve requirements, capital base etc. The purpose of this clause of the statute is to ensure that the company can only invest its liquid funds (capitaux mobiliers) in safe, non-risky assets.

David Boorer
Local time: 01:53
PRO pts in pair: 26
Grading comment
Thank you a lot

Peer comments on this answer (and responses from the answerer)
agree  Eva Blanar: This is it, only this is called eligible in English. The reason for the special expression probably is simply tradition (like in case of the "gilt-edged" securities).
1 hr

agree  Guereau: Or "acceptable to the Banque de France"
3 hrs

agree  xxx& Associates
9 hrs

agree  Jacqueline McKay
13 hrs
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1 hr   confidence: Answerer confidence 5/5
securities underwritten by the Bank of France


Explanation:
Don't see any spelling mistakes...

I wish I could locate my reference for this, but here is the full entry from my glossary, accepted by client, a British online investment rating company, for the last big (100,000 word) financial project I translated:

La Sicav est admise en garantie d'avances par la Banque de France
Holdings in the open-end fund are underwritten by the Bank of France

--------------------------------------------------
Note added at 2002-01-17 19:24:04 (GMT)
--------------------------------------------------

For reference relating to securities underwritten by a central bank:

To issue bonds, debentures, securities, collaterals and other obligations and/or the renewal or the refunding of the same upon recommendation of the
Secretary of Finance and with the approval of the President, but in no case to exceed at any one time an aggregate amount equivalent to ten times of its
paid-in capital and surplus. These bonds and other obligations shall be redeemable at the option of the Bank at or before maturity and in such manner as
many be stipulated therein and shall bear such rate of interest as may be fixed by the Bank. Such obligations shall be secured by the assets of the Bank
including the stocks, bonds, debentures, and other securities underwritten, purchased or held by it under the provisions of this Act. The Bank shall
provide for appropriate reserves for the redemption or retirement of said obligations. Such obligations may be issued and offered for sale at such price or
prices as the Bank may determine, and shall be exempt from taxation both as to principal and interest. The said obligations guaranteed both as to principal
and interest by the Government of the Republic of the Philippines and such guaranty shall be expressed on the face thereof;
http://www.lawphil.net/statutes/presdecs/pd1978/pd_1461_1978...

Yolanda Broad
United States
Local time: 20:53
Native speaker of: English
PRO pts in pair: 1551

Peer comments on this answer (and responses from the answerer)
neutral  Eva Blanar: Good for you: central banks do not underwrite holdings in open-end funds!!! Underwriting means that the broker who offers the shares on the market, takes the responsibility to buy a certain (underwritten) amount, in case if it is not sold.
7 mins
  -> See my additional info, added above.
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1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
securities eligible for the Banque de France


Explanation:
In this particular case, the securities are "eligible". The central banks publish the lists of the securities accepted as collateral: below, I give you the page of the Bank of England on that. (If the CB qualifies a security eligible, it shows the quality, no typo there.)

--------------------------------------------------
Note added at 2002-01-17 19:21:39 (GMT)
--------------------------------------------------

Sorry, this is just an answer to the peer comment (where I clicked too early): The search <eligible + securities + France > results in 18,900 results in Google + the website of the BdF also recognizes the expression (99 results). www.banque-france.fr.


    Reference: http://www.bankofengland.co.uk/markets/money/eligiblesecurit...
Eva Blanar
Hungary
Local time: 02:53
Native speaker of: Hungarian
PRO pts in pair: 109

Peer comments on this answer (and responses from the answerer)
agree  Yolanda Broad: From Google: Your search - "securities eligible for the banque de france" - did not match any documents. Ditto for "Bank of France"
14 mins
  -> http://www.cvmq.com/en/emetteur/liste_soc.asp
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
securities accepted by the Banque de France as collateral


Explanation:
I came up with the phrase myself, and as it happens it occurs at http://www.fondation.maif.fr/statuts/en_charter3.html. That is probably itself a translation, so is not authoritative, but sounds OK.

You could add something like "for advances" or "for payments".


    Reference: http://www.fondation.maif.fr/statuts/en_charter3.html
Peter Freckleton
Australia
Local time: 12:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 722
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