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Schuldtitel . . ., Schuldverschreibungen

English translation: See below.

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14:05 Apr 1, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: Schuldtitel . . ., Schuldverschreibungen
The full text I'm iffy about appears in the balance sheet of a bank:

(1) Schuldtitel öffentlicher Stellen und Wechsel, die zur Refinanzierung bei Zentralnotenbanken zugelassen sind

and

(2) Schuldverschreibungen und andere festverzinsliche Wertpapiere sowie Ausgleichsforderungen gegen die öffentliche Hand einschl. Schuldverschreibungen aus deren Umtausch

Luckily I have a German version and the corresponding English version of the 1998 balance sheets for the Deutsche Bank Group to guide me with other terminology, but these items do not appear. Any suggestions?
Cami Townsend
English translation:See below.
Explanation:
These are the official translations used by the Bundesaufsichtsamt für das Kreditwesen: (1) Debt instruments issued by public authorities and bills of exchange eligible for refinancing at central banks; (2) (a) Debt securities and other fixed-interest securities (b) equalisation claims on the public sector including debt securities arising from their exchange. Bank Austria, Erste Bank (Austria) offer this alternative for (1): Treasury bills and other bills eligible for refinancing at central banks. Despite what Romain says, I wouldn't use "debentures" for "Schuldverschreibungen". "Debentures" is a narrower concept. "Debt securities" is 'safe'; in less formal contexts, I prefer "bonds".
Selected response from:

Robin Stocks
Local time: 03:35
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
nasee belowDan McCrosky
naSee below.Robin Stocks
napublic debt and bonds
Nina Gettler
nainstrument of indebtedness, debenture bondWilliam Scheckel


  

Answers


27 mins
instrument of indebtedness, debenture bond


Explanation:
Romain's Dictionary of Legal and Commercial Terms (the best dictionary of its kind out there as far as I'm concerned) translates Schuldtitel as an "instrument of indebtedness" or "proof of indebtedness."
Schuldverschreibung is a "debenture bond" although in some cases, just "bond" is fine.
Hope this helps.

William Scheckel
Local time: 03:35
PRO pts in pair: 139
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43 mins
public debt and bonds


Explanation:
Schuldtitel is debt and öffentliche Stellen = government ergo

Schuldtitel öffentlicher Stellen = public debt

Schuldverschreibungen = bonds

here is a very rough translation of the whole text:
1) public debt and prmissory notes which are permitted for us in re-financing with the central issuing banks
2) bonds and other fixed-interest stocks and shares as well as equalization claims against the government including bonds stemming from their exchange

although I must admit that I am not quite clear what "deren" Umtausch refers to.

Nina Gettler
Local time: 18:35
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 36
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9 hrs
See below.


Explanation:
These are the official translations used by the Bundesaufsichtsamt für das Kreditwesen: (1) Debt instruments issued by public authorities and bills of exchange eligible for refinancing at central banks; (2) (a) Debt securities and other fixed-interest securities (b) equalisation claims on the public sector including debt securities arising from their exchange. Bank Austria, Erste Bank (Austria) offer this alternative for (1): Treasury bills and other bills eligible for refinancing at central banks. Despite what Romain says, I wouldn't use "debentures" for "Schuldverschreibungen". "Debentures" is a narrower concept. "Debt securities" is 'safe'; in less formal contexts, I prefer "bonds".


    Reference: http://www.bakred.de/
Robin Stocks
Local time: 03:35
PRO pts in pair: 19
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14 hrs
see below


Explanation:
In general, I can only agree with everything Robin says.

"Schuldtitel öffentlicher Stellen" = "public-sector debt instruments" according to Zahn, "Banking and Stock Trading Dictionary".

This is the official translation used by the "BANKING ACT of the Federal Republic of Germany": "Schuldtitel öffentlicher Stellen und Wechsel, die zur Refinanzierung bei Zentralnotenbanken zugelassen sind" = "debt instruments issued by public authorities and bills of exchange eligible for refinancing at central banks".


"Schuldverschreibungen und andere festverzinsliche Wertpapiere sowie Ausgleichsforderungen gegen die öffentliche Hand" = "public sector debt instruments/securities (as well as equalization (recovery) claims on the public sector" (this is a mix of Zahn and BAKred - Bundesaufsichtsamt für das Kreditwesen = German Federal Banking Supervisory Office).


"einschl. Schuldverschreibungen aus deren Umtausch" = including debt instruments/securities arising from their exchange.


"§ 19 Ausgleichsforderungen gegen die öffentliche Hand einschließlich Schuldverschreibungen aus deren Umtausch (Nr. 10) Im Posten Nr. 10 sind Ausgleichsforderungen aus der Währungsreform von 1948 sowie Ausgleichsforderungen gegenüber dem Ausgleichsfonds Währungsumstellung auszuweisen. Hierzu zählen auch Schuldverschreibungen des Ausgleichsfonds Währungsumstellung, die aus der Umwandlung gegen ihn gerichteter Ausgleichsforderungen entstanden sind, unabhängig davon, ob das bilanzierende Institut die Schuldverschreibungen aus dem Umtausch eigener Ausgleichsforderungen oder als Erwerber von einem anderen Institut oder einem Außenhandelsbetrieb erlangt hat"

The above is from:

"Bekanntmachung der Neufassung der Verordnung über die Rechnungslegung der Kreditinstitute und Finanzdienstleistungsinstitute (RechKredV) Vom 11. Dezember 1998" but so far I have not found an English version of the announcement.


I like "debt instruments" as a term to include bonds, debentures, notes, etc because, like Robin says, we are not so sure exactly which sort of securities are in the pot here. BAKred and the BANKING ACT mostly use "debt securities" rather than "debt instruments" which Robin also mentioned. The major exception is the "Schuldtitel öffentlicher Stellen" phrase from the BANKING ACT mentioned above.


Most of the time, BAKred seems to like " öffentlicher Stellen" rather than "öffentliche Hand" but I do not think that needs to affect your translation.


http://www.bakred.de/






    Reference: http://www.bakred.de/
Dan McCrosky
Local time: 03:35
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
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