KudoZ home » French to English » Business/Commerce (general)

resserrement du volume de crédit distribué

English translation: tightening of the volume of credit granted

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:resserrement du volume de crédit distribué
English translation:tightening of the volume of credit granted
Entered by: Daniel Weston
Options:
- Contribute to this entry
- Include in personal glossary

01:16 Feb 7, 2012
French to English translations [PRO]
Bus/Financial - Business/Commerce (general)
French term or phrase: resserrement du volume de crédit distribué
I'm not quite sure how to render this term in English. I've read and heard about "squeezing of credit" or "tighening of credit" but this seems to be saying "tightening of the volume of distributed credit". Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?


Here is the complete sentence:

"Les taux d’intérêts sont cependant restés à un faible niveau même si l’on peut craindre un **resserrement du volume de crédit distribué** et une hausse de taux espérée modérée en 2012"
Daniel Weston
United States
Local time: 00:39
tightening of the volume of credit granted
Explanation:
IMO

--------------------------------------------------
Note added at 1 hr (2012-02-07 02:48:40 GMT)
--------------------------------------------------

Or "reduction of the volume of credit granted"

--------------------------------------------------
Note added at 2 hrs (2012-02-07 03:22:26 GMT)
--------------------------------------------------

Perhaps the author wants to distinguish between credit that is theoretically available and the actual amount of credit granted by lending institutions. ;-)

--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:50:00 GMT)
--------------------------------------------------

Some references for the tightening of credit:

In times when economic downturns result in a tightening of the overall volume of credit available, SMEs will face severe financing problems that increase the default risk associated with these companies.
http://goliath.ecnext.com/coms2/gi_0198-396925/Credit-risk-a...

The review is mainly based on responses to a tightening of the volume of central bank credit.
http://www.google.com/url?sa=t&rct=j&q="tightening of * volu...

--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:53:40 GMT)
--------------------------------------------------

More on tightening:

resserrement
2. [limitation] tightening
le resserrement du crédit the credit squeeze, the tightening of credit control

http://www.larousse.com/en/dictionaries/french-english/resse...

--------------------------------------------------
Note added at 3 hrs (2012-02-07 05:06:43 GMT)
--------------------------------------------------

Additionally, for reduction:

A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates
http://en.wikipedia.org/wiki/Credit_crunch

BTW, the English "Credit crunch" Wiki toggles with the French "Resserrement du crédit" Wiki: http://fr.wikipedia.org/wiki/Resserrement_du_crédit
================

@ Daniel, regarding your question, "Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?" – It may indeed be important to keep "distribué" in the English text... One might hope that that the rest of the text makes that clear, but if not, my choice would be to include it as "volume of credit granted."
Selected response from:

cc in nyc
Local time: 03:39
Grading comment
Thank you. It was a tough decision because the other answer is also viable. In the end, this one fit the context best.
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
3 +3tightening of the volume of credit grantedcc in nyc
4 +1decline/cutback in lendingrkillings
3tightening on amount of credit extended
Just Opera


Discussion entries: 2





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
tightening of the volume of credit granted


Explanation:
IMO

--------------------------------------------------
Note added at 1 hr (2012-02-07 02:48:40 GMT)
--------------------------------------------------

Or "reduction of the volume of credit granted"

--------------------------------------------------
Note added at 2 hrs (2012-02-07 03:22:26 GMT)
--------------------------------------------------

Perhaps the author wants to distinguish between credit that is theoretically available and the actual amount of credit granted by lending institutions. ;-)

--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:50:00 GMT)
--------------------------------------------------

Some references for the tightening of credit:

In times when economic downturns result in a tightening of the overall volume of credit available, SMEs will face severe financing problems that increase the default risk associated with these companies.
http://goliath.ecnext.com/coms2/gi_0198-396925/Credit-risk-a...

The review is mainly based on responses to a tightening of the volume of central bank credit.
http://www.google.com/url?sa=t&rct=j&q="tightening of * volu...

--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:53:40 GMT)
--------------------------------------------------

More on tightening:

resserrement
2. [limitation] tightening
le resserrement du crédit the credit squeeze, the tightening of credit control

http://www.larousse.com/en/dictionaries/french-english/resse...

--------------------------------------------------
Note added at 3 hrs (2012-02-07 05:06:43 GMT)
--------------------------------------------------

Additionally, for reduction:

A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates
http://en.wikipedia.org/wiki/Credit_crunch

BTW, the English "Credit crunch" Wiki toggles with the French "Resserrement du crédit" Wiki: http://fr.wikipedia.org/wiki/Resserrement_du_crédit
================

@ Daniel, regarding your question, "Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?" – It may indeed be important to keep "distribué" in the English text... One might hope that that the rest of the text makes that clear, but if not, my choice would be to include it as "volume of credit granted."

cc in nyc
Local time: 03:39
Specializes in field
Native speaker of: English
PRO pts in category: 173
Grading comment
Thank you. It was a tough decision because the other answer is also viable. In the end, this one fit the context best.

Peer comments on this answer (and responses from the answerer)
agree  Yolanda Broad: I like "tightening."
58 mins
  -> Thank you.

agree  B D Finch
6 hrs
  -> Thank you.

agree  Emiliano Pantoja
2 days5 hrs
  -> Thank you.
Login to enter a peer comment (or grade)

15 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
tightening on amount of credit extended


Explanation:
(by the banks)

or squeeze or cutback

--------------------------------------------------
Note added at 15 hrs (2012-02-07 16:59:03 GMT)
--------------------------------------------------

extended meaning make (a resource) available to someone

--------------------------------------------------
Note added at 15 hrs (2012-02-07 17:11:40 GMT)
--------------------------------------------------

http://www.creditorweb.com/definition/line-of-credit.html

"A line of credit is a pre-established amount of credit extended to a borrower by a lender that the borrower can draw against as needed"

http://www.investopedia.com/terms/c/credit-exposure.asp#axzz...

Definition of 'Credit Exposure'

The total amount of credit extended to a borrower by a lender.



Just Opera
Belgium
Local time: 09:39
Native speaker of: Native in EnglishEnglish
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
decline/cutback in lending


Explanation:
'Tightening', when it isn't associated with a spread, usually means tightening of loan standards. That may well be what is expected to happen, but the French text talks only about the quantity of credit actually supplied. Stick to what it says.

Use 'decline' to retain the impersonality of "reserrement", or use 'cutback' to imply a degree of agency related to interest rates.

--------------------------------------------------
Note added at 8 hrs (2012-02-07 09:22:41 GMT)
--------------------------------------------------

See here for the ECB's latest "Bank lending survey":
http://www.ecb.europa.eu/stats/pdf/blssurvey_201201.pdf

The ECB's working language is English, so no official FR translation. But here is how an earlier release was reported on a French bank news website:
http://www.news-banques.com/enquete-sur-la-distribution-du-c...

--------------------------------------------------
Note added at 19 hrs (2012-02-07 20:36:42 GMT)
--------------------------------------------------

'Contraction' is another impersonal word that would fit here. Save 'tightening' for intentional action by stern policymakers and villainous banks. Save it for a time when central bank lending to the banks is not the opposite of tight.

rkillings
United States
Local time: 00:39
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 278

Peer comments on this answer (and responses from the answerer)
agree  Clair@Lexeme
9 hrs

neutral  cc in nyc: ECB reference uses "decline" re: loan demand, not loans granted ;-)
15 hrs
  -> When the ECB says that, it's talking about a leftward shift in the demand curve. When the ECB "tightens", it's aiming for a leftward shift in the loan supply curve.
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search