English translation: Discount Rate Transition Act,
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11:30 Aug 11, 2000
German to English translations [PRO] Bus/Financial
German term or phrase:Diskontsatzüberleitungsgesetz
This word appears in a contract and the context involves a licensee having to pay a rate of 5% over the basic interest rate in accordance with section 1 of the Diskontsatzüberleitungsgesetz of 09.06.98. I know that Diskontsatz is the minimum lending rate but am stuck with überleitung here. Does anyone know what this law is called?
Explanation: The URL below provides some valuable information on the DÜG. Part of the Federal Cabinet's passing of the act on introducing the euro, the DÜG offers an alternative basis for determining interest rates for the period between 1/1/99 and 12/31/2001, i.e. from when the Diskontsatz of the Deutche Bundesbank ceased to exist to full introduction of the euro.
I wasn't able to find an official translation of the law or its name on the web. In that case I would leave the name as is and explain its significance in brackets.
Explanation: Überleitungsgesetz = transference law, transitional law (Romain)
[US usage would most likely be "act" instead of "law", generally all laws enacted by the US Congress are called ... Act]
Diskontsatz = discount rate (Zahn, WB Bank- und Börsenwesen)