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unechtes Pensionsgeschaeft

English translation: reverse purchase agreement

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:unechtes Pensionsgeschaeft
English translation:reverse purchase agreement
Entered by: EMatt
Options:
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11:59 Nov 10, 2001
German to English translations [PRO]
Bus/Financial - Investment / Securities
German term or phrase: unechtes Pensionsgeschaeft
Pensionsgeschaeft means repurchase agreement. What stomps me is the :unechtes". It is a terminus technicus, but I just don't know what to use as English equivalent.
EMatt
Local time: 06:25
reverse repurchase agreement
Explanation:
"Pensionsgeschäfte:

Befristete Übertragung von Wertpapieren des Pensionsgebers an den Pensionsnehmer. Der Pensionsgeber erhält für die Dauer des Pensionsgeschäftes Liquidität im Wert der Anleihe, während der Pensionsnehmer im Gegenzug eine mit dem Wertpapier abgesicherte Veranlagung zu Geldmarktkonditionen tätigt. Im Falle unechter Pensionsgeschäfte ist laut § 50 BWG der Pensionsnehmer berechtigt, aber nicht gezwungen, die Vermögensgegenstände zurückzuübertragen. Unechte Pensionsgeschäfte sind in der Bilanz des Pensionsnehmers auszuweisen."
See link below.
Hope this helps


Selected response from:

pschmitt
Local time: 11:25
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1securities sales and repurchase agreement
Ralf Lemster
4reverse repurchase agreement
pschmitt
4 -1fictitious
Eva Blanar
4 -1falseglinchey


  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
fictitious


Explanation:
this is a fictitious or bogus transaction

Eva Blanar
Hungary
Local time: 12:25
Specializes in field
Native speaker of: Hungarian
PRO pts in category: 2
Grading comment
A literal translation is not the right terminus technicus.

Peer comments on this answer (and responses from the answerer)
disagree  Ralf Lemster: "Unecht" describes a legal concept - nothing bogus about it
10 hrs
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The asker has declined this answer
Comment: A literal translation is not the right terminus technicus.

30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
reverse repurchase agreement


Explanation:
"Pensionsgeschäfte:

Befristete Übertragung von Wertpapieren des Pensionsgebers an den Pensionsnehmer. Der Pensionsgeber erhält für die Dauer des Pensionsgeschäftes Liquidität im Wert der Anleihe, während der Pensionsnehmer im Gegenzug eine mit dem Wertpapier abgesicherte Veranlagung zu Geldmarktkonditionen tätigt. Im Falle unechter Pensionsgeschäfte ist laut § 50 BWG der Pensionsnehmer berechtigt, aber nicht gezwungen, die Vermögensgegenstände zurückzuübertragen. Unechte Pensionsgeschäfte sind in der Bilanz des Pensionsnehmers auszuweisen."
See link below.
Hope this helps





    Reference: http://staatsschuldenausschuss.at/html/inhalt/glossar.htm
pschmitt
Local time: 11:25
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7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
false


Explanation:
if it wasn't terminus technicus, one could even say "phoney/phony", a little stronger of a word though



    none needed
glinchey
United States
Local time: 03:25
Grading comment
Does not help in this case.

Peer comments on this answer (and responses from the answerer)
disagree  Ralf Lemster: 'fraid it is...
3 hrs
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The asker has declined this answer
Comment: Does not help in this case.

10 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
securities sales and repurchase agreement


Explanation:
See section 340 (1)-(5) HGB [http://dejure.org/gesetze/HGB/340b.html] for the definitions. Strictly speaking, one would have to qualify the fact that the repo lender has the right, but not the obligation, to return the underlying securities. In practice, however, this distinction is not expressly made (not least because this concept does not exist in a similar way in English law, for instance) If you would like to distinguish between the two in your English text, one possibility is to refer to "echte Pensionsgeschäfte" as "repo/reverse repo transactions" (adding the German term in brackets in each case, at least when using the term for the first time).

Note that "reverse" only denotes one particular side to the transaction.


    Own professional experience in the financial markets
    Own experience in translating various annual reports (incl. Dresdner Bank)
Ralf Lemster
Germany
Local time: 12:25
Specializes in field
Native speaker of: German
PRO pts in category: 419

Peer comments on this answer (and responses from the answerer)
agree  Alison Schwitzgebel
2 hrs
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