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INSTRUMENTS DE TAUX A TERME FERME

English translation: long-term, fixed-rate instruments

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12:31 Dec 30, 2003
French to English translations [PRO]
Bus/Financial
French term or phrase: INSTRUMENTS DE TAUX A TERME FERME
Title is "CONSOLIDATION GROUPE ...", subtitle "INSTRUMENTS DE TAUX"
zac
Local time: 18:03
English translation:long-term, fixed-rate instruments
Explanation:
a terme= long term

de taux a term ferme= long term fixed rate

cheers

term fixed rate. Why? Two reasons: 1) long-term (10 year) Treasuries are lower now
than they have been since the Fall of 1993; and 2) long-term instruments are ...
www1.shore.net/~straub/pvmsu98p.htm - 4k - Cached - Similar pages

Lucent Annual Report 2001
... We perform a sensitivity analysis on our fixed-rate long-term debt to assess the
risk of changes in fair value. These debt instruments have original maturities ...
www.lucent.com/investor/annual/01/financial_review/ 04_risk_manage_a.html - 18k - Dec 28, 2003 - Cached - Similar pages

NOTE P: Financial Instruments
... to purchases of wool and fixed assets denominated in ... At October 2, 1999, long-term
debt with a ... Interest Rate Instruments: The fair values are the estimated ...
www.onlineproxy.com/burlington/2000/ar/note-p.html - 18k - Cached - Similar pages

Hansabank - Money Market Funds
... the medium-term perspective, investing in medium-risk and low-risk fixed-rate instruments. ... Fixed
Income Fund is suitable for medium to long-term (minimum 3 ...
w.hansa.ee/eng/arikliendile_inv_rtfondid.html - 32k - Dec 28, 2003 - Cached - Similar pages


--------------------------------------------------
Note added at 2003-12-30 16:34:31 (GMT)
--------------------------------------------------

SORRy mistake SEE BELOW

contract a terme ferme = a futures contract


--------------------------------------------------
Note added at 2003-12-30 16:37:47 (GMT)
--------------------------------------------------

taux = interest rate

so these are in fact:

FINAL: INTEREST RATE FUTURES [instruments]

as in

Real Time Quotes Ag Futures Ag Options Interest Rate Futures 30 Yr US Treasury Bonds
10 Yr US Treasury Notes 5 Yr US Treasury Notes 2 Yr US Treasury Notes 10 ...
www.cbot.com/cbot/www/page/0,1398,12 31,00.html - 22k - Cached - Similar pages

Time & Sales - Interest Rate Futures
Real Time Quotes Ag Futures Ag Options Interest Rate Futures Interest Rate Options
Index Futures Index Options Metal Futures Combinations Spread Quotes ...
www.cbot.com/cbot/www/page/0,1398,12 391 470,00.html - 20k - Cached - Similar pages
[ More results from www.cbot.com ]

The Hindu Business Line : Why no future for interest rate futures
... Opinion - Derivatives Markets Money & Banking - Insight Columns - Mark
To Market Why no future for interest rate futures B. Venkatesh. ...
www.thehindubusinessline.com/bline/2003/ 10/13/stories/2003101300080900.htm - 17k - Cached - Similar pages



--------------------------------------------------
Note added at 2003-12-30 16:38:15 (GMT)
--------------------------------------------------

FINAL again: Interest rate futures
Selected response from:

Jane Lamb-Ruiz
Grading comment
Many thanks
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +2fixed term rate instruments
Clauwolf
5long-term, fixed-rate instrumentsJane Lamb-Ruiz
4fixed term instruments
Parrot
3Firm commitments: FRAs (forward rate agreements)Buzzy
3instruments of fixed period returnsRobin Salmon


  

Answers


29 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
instruments of fixed period returns


Explanation:
I think "fixed period" shoud be OK. "Vehicles" also possible instead of instruments.


    Reference: http://www.blonnet.com/iw/2000/09/10/stories/0710g101.htm
Robin Salmon
Australia
Local time: 04:03
Native speaker of: English
PRO pts in pair: 164
Login to enter a peer comment (or grade)

30 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
fixed term rate instruments


Explanation:
:)

--------------------------------------------------
Note added at 2003-12-30 13:05:00 (GMT)
--------------------------------------------------

From Heritage:

Instrument = 6. A legal document.

Clauwolf
Local time: 15:03
Native speaker of: Native in PortuguesePortuguese
PRO pts in pair: 75

Peer comments on this answer (and responses from the answerer)
agree  Abdellatif Bouhid
2 hrs

agree  toubabou: fixed-rate/term instruments (with or without the slash)
3 hrs
Login to enter a peer comment (or grade)

59 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
fixed term instruments


Explanation:
is the most common collocation:

Peoples Trust - [ Traduzca esta página ]
... We have determined that the most cost-effective service to provide
investors relates to the offering of fixed term instruments. ...
www.peoplestrust.com/invest_termdep.asp - 9k - En caché - Páginas similares

Lebanon Business Network - [ Traduzca esta página ]
... bonds. Eurobonds are fixed-term instruments issued outside the issuer’s
domestic market and denominated in foreign currency. Currently ...
www.linbusiness.com/BusinessRef/ BusinessAll.asp?CatId=8 - 54k - En caché - Páginas similares

Small & Minority Business Development - Microloan Program ... - [ Traduzca esta página ]
... Terms and repayment will be determined by the lending institution (on fixed term
instruments) with the maximum term of the guarantee being thirty-six months. ...
www.cfdc.org/smb/loan/
-----------------

The "rate" only changes if the term is changed; i.e., a bond at 5 years may yield 14%, but only 5% if you pull out the investment before its maturity. These instruments may form part of the assets of a company being consolidated.

Parrot
Spain
Local time: 19:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5
long-term, fixed-rate instruments


Explanation:
a terme= long term

de taux a term ferme= long term fixed rate

cheers

term fixed rate. Why? Two reasons: 1) long-term (10 year) Treasuries are lower now
than they have been since the Fall of 1993; and 2) long-term instruments are ...
www1.shore.net/~straub/pvmsu98p.htm - 4k - Cached - Similar pages

Lucent Annual Report 2001
... We perform a sensitivity analysis on our fixed-rate long-term debt to assess the
risk of changes in fair value. These debt instruments have original maturities ...
www.lucent.com/investor/annual/01/financial_review/ 04_risk_manage_a.html - 18k - Dec 28, 2003 - Cached - Similar pages

NOTE P: Financial Instruments
... to purchases of wool and fixed assets denominated in ... At October 2, 1999, long-term
debt with a ... Interest Rate Instruments: The fair values are the estimated ...
www.onlineproxy.com/burlington/2000/ar/note-p.html - 18k - Cached - Similar pages

Hansabank - Money Market Funds
... the medium-term perspective, investing in medium-risk and low-risk fixed-rate instruments. ... Fixed
Income Fund is suitable for medium to long-term (minimum 3 ...
w.hansa.ee/eng/arikliendile_inv_rtfondid.html - 32k - Dec 28, 2003 - Cached - Similar pages


--------------------------------------------------
Note added at 2003-12-30 16:34:31 (GMT)
--------------------------------------------------

SORRy mistake SEE BELOW

contract a terme ferme = a futures contract


--------------------------------------------------
Note added at 2003-12-30 16:37:47 (GMT)
--------------------------------------------------

taux = interest rate

so these are in fact:

FINAL: INTEREST RATE FUTURES [instruments]

as in

Real Time Quotes Ag Futures Ag Options Interest Rate Futures 30 Yr US Treasury Bonds
10 Yr US Treasury Notes 5 Yr US Treasury Notes 2 Yr US Treasury Notes 10 ...
www.cbot.com/cbot/www/page/0,1398,12 31,00.html - 22k - Cached - Similar pages

Time & Sales - Interest Rate Futures
Real Time Quotes Ag Futures Ag Options Interest Rate Futures Interest Rate Options
Index Futures Index Options Metal Futures Combinations Spread Quotes ...
www.cbot.com/cbot/www/page/0,1398,12 391 470,00.html - 20k - Cached - Similar pages
[ More results from www.cbot.com ]

The Hindu Business Line : Why no future for interest rate futures
... Opinion - Derivatives Markets Money & Banking - Insight Columns - Mark
To Market Why no future for interest rate futures B. Venkatesh. ...
www.thehindubusinessline.com/bline/2003/ 10/13/stories/2003101300080900.htm - 17k - Cached - Similar pages



--------------------------------------------------
Note added at 2003-12-30 16:38:15 (GMT)
--------------------------------------------------

FINAL again: Interest rate futures

Jane Lamb-Ruiz
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in pair: 8576
Grading comment
Many thanks

Peer comments on this answer (and responses from the answerer)
agree  writeaway
1 hr

disagree  toubabou: taux à terme signifie un certain taux sur une certaine durée, rien ici ne parle de la durée du terme et à mon avis il peut s'agir de long-term aussi bien que de short-term
2 hrs
  -> It's interest rate futures
Login to enter a peer comment (or grade)

5 days   confidence: Answerer confidence 3/5Answerer confidence 3/5
Firm commitments: FRAs (forward rate agreements)


Explanation:
"instruments de taux" are generally called "interest rate instruments" (as opposed to "instruments de change" - foreign currencuy instruments).

This term seems to correspond to a FRA, eg:

CONTRAT DE TAUX D'INTÉRÊT À TERME (FRA)

Assurez vos taux d'intérêt dans le futur grâce au contrat de taux d’intérêt à terme. Selon l’entente conclue, vous pouvez fixer un taux futur d’achat ou de vente de billets promissoires. À l'échéance du contrat, la Banque s'engage à verser ou à recevoir la différence entre le taux contracté et le taux du marché. Les montants engagés se présentent en multiples de 1 000 000 $, et les termes peuvent s'échelonner jusqu'à deux ans.


http://www.bnc.ca/bnc/cda/content/0,1008,divId-4_langId-2_na...


The BNP Paribas site, however, among others, does not translate FRA in the same way (calling it "accord sur un taux futur"): so this needs checking.

I realise that my suggestion about "firm" is problematic since "ferme" in the French does not have an s... but this kind of error can happen! Maybe just "FRAs" would cover it all.

Good luck



Buzzy
Local time: 19:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 377
Login to enter a peer comment (or grade)




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