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Wertberichtigung

English translation: write-down (sometimes, but not always)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Wertberichtigung
English translation:write-down (sometimes, but not always)
Entered by: Alison Schwitzgebel
Options:
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- Include in personal glossary

07:10 Jan 23, 2002
German to English translations [PRO]
Bus/Financial
German term or phrase: Wertberichtigung
6.) Um unserer Forderung auch rechtlich nach finnischen Gesetz aufrecht zu erhalten, wurde ein Inkassoinstitut beauftragt (ähnlich Credit-Reform) Entsprechende Wertberichtigungen sind dem Unterzeichner alle 14 Tage zu melden.
Sarah Downing
Local time: 06:22
write-down
Explanation:
What they mean is that if they have to write-down the value of a receivable after receiving information from this institute (similar to Creditreform) that they have to tell the undersigned about it every 14 days.

Yes, a "Wertberichtigung" is a value adjustment, but that can be adjusting the value either up or down - here they just mean down, hence "write-downs".

Here's a real life example, first the German, then the English:

"Die Risikovorsorge im Kreditgeschäft liegt mit 1,3 Mrd. EUR um
rund 170 Mio. EUR über dem Vorjahr. Trotz einiger größerer
Einzelengagements, für die Vorsorge zu treffen war (z. B.
vorsorgliche 100 \%-ige Wertberichtigung für das Engagement
Flowtex), resultiert die Erhöhung fast ausschliesslich aus der
Verstärkung der Risikovorsorge für einige Problemländer. "

"Net loan loss provisions stood at EUR 1.3 bln, up approximately
EUR 170 mln on the previous year. Though specific provisions
had to be set aside for a few larger lending commitments (e.g.
precautionary 100 \% write down of Flowtex), the increase is
almost entirely a consequence of a rise in provisions for a few
problem countries"

--------------------------------------------------
Note added at 2002-01-23 09:56:05 (GMT)
--------------------------------------------------

Oh yes, they can\'t adjust the value up - the maximum permissible value of a receivable is always its face value.
Selected response from:

Alison Schwitzgebel
France
Local time: 12:22
Grading comment
Thanks to everyone for your brilliant suggestions.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5write-down
Alison Schwitzgebel
4 +1value adjustementGeorge Auslaender
4correctionGlyn Haggett
4valuation adjustment
Translations4IT


  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
valuation adjustment


Explanation:
Wertberichtigung f
(ReW) valuation adjustment
(ie, Wertkorrektur als Posten auf der Passivseite e–r Bilanz für zu hoch angesetzte Aktiva; entry on the liabilities side of a balance sheet, made to offset overvaluation of assets)

Translations4IT
Local time: 16:52
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in pair: 730
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22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
value adjustement


Explanation:
Corresponding value adjustements are to be announced every 14 days.....

George Auslaender
Romania
Local time: 13:22
PRO pts in pair: 4

Peer comments on this answer (and responses from the answerer)
agree  Birgit Gerdes: I think value adjustment makes sense and is most commonly used in the banking industry
46 mins
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31 mins   confidence: Answerer confidence 5/5
write-down


Explanation:
What they mean is that if they have to write-down the value of a receivable after receiving information from this institute (similar to Creditreform) that they have to tell the undersigned about it every 14 days.

Yes, a "Wertberichtigung" is a value adjustment, but that can be adjusting the value either up or down - here they just mean down, hence "write-downs".

Here's a real life example, first the German, then the English:

"Die Risikovorsorge im Kreditgeschäft liegt mit 1,3 Mrd. EUR um
rund 170 Mio. EUR über dem Vorjahr. Trotz einiger größerer
Einzelengagements, für die Vorsorge zu treffen war (z. B.
vorsorgliche 100 \%-ige Wertberichtigung für das Engagement
Flowtex), resultiert die Erhöhung fast ausschliesslich aus der
Verstärkung der Risikovorsorge für einige Problemländer. "

"Net loan loss provisions stood at EUR 1.3 bln, up approximately
EUR 170 mln on the previous year. Though specific provisions
had to be set aside for a few larger lending commitments (e.g.
precautionary 100 \% write down of Flowtex), the increase is
almost entirely a consequence of a rise in provisions for a few
problem countries"

--------------------------------------------------
Note added at 2002-01-23 09:56:05 (GMT)
--------------------------------------------------

Oh yes, they can\'t adjust the value up - the maximum permissible value of a receivable is always its face value.


    Reference: http://www.boerseninfos.de/ak/adhoc/news/535000-20000228-180...
Alison Schwitzgebel
France
Local time: 12:22
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 3409
Grading comment
Thanks to everyone for your brilliant suggestions.

Peer comments on this answer (and responses from the answerer)
disagree  Birgit Gerdes: Berichtigung is a correction/adjustment, not a simple statement
38 mins
  -> a write-down is also a correction/adjustment - i.e. the value is adjusted downwards

agree  Ralf Lemster: Correct; if loan losses are involved: "loan loss provisions"
1 hr
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
correction


Explanation:
A novel entitled "The Corrections" was recently published here (UK) - apparently, a "correction" in this context is precisely what you are dealing with here.

Glyn Haggett
United Kingdom
Local time: 11:22
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 94
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