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English translation: see below

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18:16 Mar 31, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: See below.
"Die Bilanzsumme der ABC stieg im abgelaufenen Geschäftsjahr um 12,7% auf 75,2 Mrd. DM. Auf der Aktivseite hat die Ausweitung des Verbundgeschäftes zu einem Anstieg der Forderungen an Volksbanken und Raiffeisenbanken um 10,7% auf 15,2 Mrd. DM geführt. Zudem wurde aber auch das klassische Meta-Kreditgeschäft mit den Volksbanken und Raiffeisenbanken sowie das streng subsidiär ausgerichtete Direktgeschäft mit Kunden weiter forciert. Diese Bilanzposition stieg um 28% auf mittlerweile 13,7 Mrd. DM. Darin kommt insbesondere die Bedeutung des genossenschaftlichen FinanzVerbundes für den Mittelstand zum Ausdruck. Sofern sich die Großbanken stärker aus dem mittelstandsbezogenen Geschäft zurückziehen sollten, werden die Volksbanken und Raiffeisenbanken gemeinsam mit der SGZ-Bank neue Engagements zunächst sorgfältig prüfen, so XY. Das unter Federführung des BVR (Bundesverband Deutscher Volksbanken und Raiffeisenbanken) laufende Projekt "Risikomanagement" wird eine wichtige Voraussetzung liefern, um die Engagements nach einheitlichen Kriterien zu beurteilen und die notwendige Datenbasis liefern, um interne Ratings des Verbundes auch für Baseler Anforderungen akzeptabel zu machen."

I'm having trouble with these parts:
(1) klassische Meta-Kreditgeschäft, i.e. what the "meta" really implies
(2) das streng subsidiär ausgerichtete Direktgeschäft, "subsidiär" as in subsidiary/Tochtergesellchaft?
(3) mittlerweile: Why "mittlerweile" if they're talking about the past fiscal year?
(4) Sofern sich die Großbanken . . . XY: The "sofern" and "sollten" combination is throwing me off.
(5) . . . eine wichtige Voraussetzung . . . zu machen: I understand that for the sake of risk management they're trying to develop standard criteria by which to judge credit-worthiness and make internal network ratings acceptable to institutions in Basle. But is the "wichtige Voraussetzung" simply the imperative from above that standards be created or is it part of/the beginning of the standards themselves.

I realize there are a lot of questions here, but being they're all together, it didn't make sense to write out separate inquiries. Any help would be appreciated.
Cami Townsend
English translation:see below
Explanation:
1. "klassische Meta-Kreditgeschäft" = "transactions on joint account with profit and loss sharing" ﷓ "Meta-Kredit" = joint loan extension – The "Bundesverband Deutscher Volksbanken und Raiffeisenbanken" is an association of cooperative banks, made up of many small groups with just a few branches each in a particular area (almost always an agricultural area). In the beginning these banks were often an extra room on a Raiffeisen Feed and Farm Equipment Store. These banks are more or less owned by their customers. You buy a share to open an account. There are other banks which are in turn owned by the Volksbanken und Raiffeisenbanken, for example the DG Bank, your report could have been written by such a bank. The Deutsche Genossenschafts (DG) Bank takes care of the big customers who are too big for the little local Volksbanken und Raiffeisenbanken branches. In many cases the V&R and DG banks work together on some customers and could have "Meta-Kreditgeschäft" transactions together with such customers.

2. "subsidiär" comes from the same stem as our "subsidiary" but is used in German to mean that an activity within a hierarchy is to be carried at the lowest possible level within the hierarchy. This is called the "Subsidiärprinzip" and is often used in political discussions concerning federal, state and local authority/responsibility. It can also be used for business as in your text, to mean the same thing. Here, in my example, the DG Bank would have their loan business with customers with whom the V&R Banks have no relationship at all except that they own the DG Bank.

3. "mittlerweile" means "currently" but with the added kick that it is expected to further increase. I would maybe use "at the moment" or "in the interim" to give the connotation of further possible increase.

4. "sofern" means "assuming that" or "as we believe that" because nowadays in Germany the big commercial banks are merging, for example Deutsche and Dresdner, and at the same time trying to get out of the retail branch banking business. The big commercial banks believe there is no money to be made in the retail banking business in Germany anymore. The Volksbanken und Raiffeisenbanken see their big chance to snap up all these retail customers. The "sollten" means "will most likely" or "may".

5. "wichtige Voraussetzung" means an "important prerequisite". You are right with what you say about the institutions in Basle. This risk management project has the mandate to establish a basis for credit analysis to be used at all these hundreds of little V&R banks which have no experienced bankers who could make credit decisions on their own. At the moment, too many of the V&R Bank loans are bad loans because they were approved by staff who did not know enough about the business. This makes the institutions in Basle and elsewhere reluctant to provide funds for more such loans. This project and the resulting criteria/standards established are supposed to fix this. This profiling has been done before at other banks with good results, among others Citibank.

Selected response from:

Dan McCrosky
Local time: 12:30
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
naNew thoughtsDan McCrosky
nasee belowDan McCrosky
na1 Meta- 2 subsidiär 3 mittlerweile 4 sofern...sollten 5 eine wichtige VoraussetzungProtradit


  

Answers


2 hrs
1 Meta- 2 subsidiär 3 mittlerweile 4 sofern...sollten 5 eine wichtige Voraussetzung


Explanation:
1. Post loan business (classical form of loan business that transcends what originally was conducted by specific types of banks).
2. 'other type' or direct business (or transactions)set up in a 'completely different way'
3.as of the end of the fiscal year or 'then'[these figures could have changed completely by the time the report was or is to be presented to the 'Vollversammlung'and this would make the use of 'now' possibly inaccurate.
4. To whatever extent...the large banks withdraw from... [this refers to the future and does not imply that the writer knows 'to what extent' this 'withdrawal' will be]
5.this new tool (or 'the current risk management plan')will constitute an 'important prerequisite' in order to evaluate obligation (or liabilities) based on standard criteria and provide 'the necessary data base'...


    Hope this helps you figure a way to work this into your translation
Protradit
Local time: 03:30
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 195
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7 hrs
see below


Explanation:
1. "klassische Meta-Kreditgeschäft" = "transactions on joint account with profit and loss sharing" ﷓ "Meta-Kredit" = joint loan extension – The "Bundesverband Deutscher Volksbanken und Raiffeisenbanken" is an association of cooperative banks, made up of many small groups with just a few branches each in a particular area (almost always an agricultural area). In the beginning these banks were often an extra room on a Raiffeisen Feed and Farm Equipment Store. These banks are more or less owned by their customers. You buy a share to open an account. There are other banks which are in turn owned by the Volksbanken und Raiffeisenbanken, for example the DG Bank, your report could have been written by such a bank. The Deutsche Genossenschafts (DG) Bank takes care of the big customers who are too big for the little local Volksbanken und Raiffeisenbanken branches. In many cases the V&R and DG banks work together on some customers and could have "Meta-Kreditgeschäft" transactions together with such customers.

2. "subsidiär" comes from the same stem as our "subsidiary" but is used in German to mean that an activity within a hierarchy is to be carried at the lowest possible level within the hierarchy. This is called the "Subsidiärprinzip" and is often used in political discussions concerning federal, state and local authority/responsibility. It can also be used for business as in your text, to mean the same thing. Here, in my example, the DG Bank would have their loan business with customers with whom the V&R Banks have no relationship at all except that they own the DG Bank.

3. "mittlerweile" means "currently" but with the added kick that it is expected to further increase. I would maybe use "at the moment" or "in the interim" to give the connotation of further possible increase.

4. "sofern" means "assuming that" or "as we believe that" because nowadays in Germany the big commercial banks are merging, for example Deutsche and Dresdner, and at the same time trying to get out of the retail branch banking business. The big commercial banks believe there is no money to be made in the retail banking business in Germany anymore. The Volksbanken und Raiffeisenbanken see their big chance to snap up all these retail customers. The "sollten" means "will most likely" or "may".

5. "wichtige Voraussetzung" means an "important prerequisite". You are right with what you say about the institutions in Basle. This risk management project has the mandate to establish a basis for credit analysis to be used at all these hundreds of little V&R banks which have no experienced bankers who could make credit decisions on their own. At the moment, too many of the V&R Bank loans are bad loans because they were approved by staff who did not know enough about the business. This makes the institutions in Basle and elsewhere reluctant to provide funds for more such loans. This project and the resulting criteria/standards established are supposed to fix this. This profiling has been done before at other banks with good results, among others Citibank.



Dan McCrosky
Local time: 12:30
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
Login to enter a peer comment (or grade)

8 hrs
New thoughts


Explanation:
I've just read protradit's bit on "to whatever extent" and like it better than my "as we believe that". I was letting myself be influenced by the fact that I know that the V&R Banks are hoping to get some of the medium-sized companies and retail customers business that the big commercial banks want to give up.

Dan McCrosky
Local time: 12:30
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
Login to enter a peer comment (or grade)




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