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depotführende Kreditinstitut

English translation: custodian bank

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:depotführendes Kreditinstitut
English translation:custodian bank
Entered by: Steffen Walter
Options:
- Contribute to this entry
- Include in personal glossary

11:01 Sep 21, 2001
German to English translations [PRO]
Bus/Financial
German term or phrase: depotführende Kreditinstitut
In connection with the exercise of share option.

XXX bestätigt die Zulässigkeit der Ausübung, und versendet diese an das depotführende Kreditinstitut. Fred
transatgees
United Kingdom
Local time: 17:05
custodian bank
Explanation:
a safe custody account is administered by a custodian and is called a "Depot" in German.

here the custodian is instructed to take up the option.

(NB if this were a rights issue a similar procedure would apply)
Selected response from:

patpending
Local time: 17:05
Grading comment
Many thanks for the term.
Just on a point of detail here. The custodian does not take up the option in this case, but releases it to the grantee, obviously after getting the company's OK that the claim to the option is legitimate.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +4custodian bankpatpending
4 +1bank where the account is heldKlaus Dorn
4 +1XXX confirms that excersing this is admissible and
Kim Metzger
5yes as agentpatpending
4account-holding bank
Alison Schwitzgebel


  

Answers


4 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
bank where the account is held


Explanation:
That's what I would say, I'm not aware of an English expression...

Klaus Dorn
Local time: 20:05
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 1514

Peer comments on this answer (and responses from the answerer)
agree  gangels
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20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
XXX confirms that excersing this is admissible and


Explanation:
will send this permission to the credit institution holding the deposit.

Kim Metzger
Mexico
Local time: 11:05
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 21844

Peer comments on this answer (and responses from the answerer)
agree  gangels
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
account-holding bank


Explanation:
From the link below: "An enquiry normally asks for the account-holding bank's opinion ‘as to the means and standing’ of a customer, and the customer’s ‘trustworthiness in the way of business to the extent of £----‘. The amount may be for a single transaction or series of transactions, or it may be linked to a specific frequency say £--per week or month"

This relates to a standard account whereas a "Depot" is a securities account - but you can still use this term.

HTH


    Reference: http://www.bba.org.uk/html/1608.html
Alison Schwitzgebel
France
Local time: 18:05
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 3409
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3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
custodian bank


Explanation:
a safe custody account is administered by a custodian and is called a "Depot" in German.

here the custodian is instructed to take up the option.

(NB if this were a rights issue a similar procedure would apply)

patpending
Local time: 17:05
PRO pts in pair: 51
Grading comment
Many thanks for the term.
Just on a point of detail here. The custodian does not take up the option in this case, but releases it to the grantee, obviously after getting the company's OK that the claim to the option is legitimate.

Peer comments on this answer (and responses from the answerer)
agree  Johanna Timm, PhD: this is it. confirmed by Eichborn
2 hrs

agree  Werner George Patels, M.A., C.Tran.(ATIO)
4 hrs

agree  cochrum
6 hrs

agree  Ralf Lemster: but "ausüben" = "exercise"
7 hrs
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1 day 1 hr   confidence: Answerer confidence 5/5
yes as agent


Explanation:
you are right, I meant the custodian requires the beneficial owner to instruct it what to do as agent...not to run off with the stuff itself!

pat

patpending
Local time: 17:05
PRO pts in pair: 51
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