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16:44 Mar 28, 2018
German to English translations [PRO] Bus/Financial - Accounting
German term or phrase:Bodensatz
"Werden mehrere Sichteinlagen betrachtet, kann ein Bodensatz ￼konstatiert werden, der in der bankbetrieblichen Praxis dazu führt, dass der ￼beizulegende Zeitwert einer Gruppe von Sichteinlagen unter den Nominalwerten￼liegt (weil der Bodensatz zwar formal am nächsten Tag fällig ist, faktisch￼aber erst in zehn Jahren)."
This section of the document is discussing the fair value measurement of liabilities with demand features (cf. IFRS 13 paragraph 47).
I can't make the usual translation of "deposit base" make sense here, as it says it is technically due the following day.
This may be one where I have to ask the client, as I'm even starting to wonder if it's a typo - but any help that anyone can give in the meantime will be very gratefully received!
Thanks @dkfmmuc, this is starting to make sense - at least I understand how it can fall due the next day now! It's definitely not sediment although the analogy makes sense. I'm still waiting to hear back from the client but if and when I get a response I will make sure to post it here!
The *Bodensatz* is one of the most valuable assets especially in retail banking which is based on the uninformedness/ignorance of the customers.
Just an example for clarification:
The banks are refinancing themselves for very low cost. If you do a search with "easysparen" Sparkasse or a similar Sp arkasse product you know what I mean. Interest rates for deposit often as los as 0,05 percent per year or even 0,01 percent.
These deposits can - in theory - be withdrawn immediately, with a "punishment" of penalty interests when withdrawing 2,000 Euro+ without previous notice/termination.
In theory their duration is exactly 1 or zero days when the owner of the savings account or the current account just walks to the ATM.
However not all account owners do that on the same day. And some are following the "advice" to leave that *bpdensatz* on the account.
Although this would be a *sediment* in geology I would prefer if you would ask your customer. Residuum may work but I am not sure.
@philgoddard I found that link, but I think that refers to the other meaning of Bodensatz (deposit base - i.e. the money that the bank always aims to have available even if people make unexpected withdrawals).
In this case it is referring to an entry recorded in the accounts (and that could, technically, fall due the following day). This seems like an entirely different thing.
But I could be completely wrong, as I'm having some trouble making head or tail of it too!