Glossary entry (derived from question below)
Italian term or phrase:
affidamento dei terzi
English translation:
third party custody
Added to glossary by
Sarah Weston
Jun 22, 2011 09:51
13 yrs ago
2 viewers *
Italian term
United Kingdom
Native in: English 
Works in: Italian to English, Spanish to English, English to Italian, and 2 more.
affidamento dei terzi
Italian to English
Bus/Financial
Finance (general)
Securities
Giving context here is a bit strange as I am actually correcting a document written in English by an Italian native speaker. The term used in the English version was "third-party entrustment", which I don't think is correct. On asking the author he said that the term in Italian would be "affidamento dei terzi" OR "efficacia verso i terzi".
The English sentence is as follows:
"From another perspective, the issue of financial collateral is subject to problems and concerns largely similar to those regarding the sale and purchase of securities held with an intermediary, like investor protection, failure to perform, insolvency risk allocation, ***third-party entrustment*** and more broadly, market stability, which is ultimately the other side of the same coin."
Thanks for any help.
The English sentence is as follows:
"From another perspective, the issue of financial collateral is subject to problems and concerns largely similar to those regarding the sale and purchase of securities held with an intermediary, like investor protection, failure to perform, insolvency risk allocation, ***third-party entrustment*** and more broadly, market stability, which is ultimately the other side of the same coin."
Thanks for any help.
Proposed translations
(English)
| 3 | third party custody |
James (Jim) Davis
|
| 3 | legitimate expectations of third parties |
Thomas Roberts
|
| 1 | third parties reliability |
Pompeo Lattanzi
|
Proposed translations
1 hr
James (Jim) Davis
Seychelles
Seychelles
Native in English
Specializes in field
Seychelles
25 years experience constantly improving
Native in: English (Variant: British)
Works in: Italian to English
Related KudoZ points
:
4516
Selected
third party custody
Often collateral is not held directly by the lender (creditor) but by a "third party custodian", especially on things like repo (repurchase agreement) markets and securities are in any case normally held by custodians in the name of the owner. Obviously when the fine print in the contract is read (they are still reading it over the Lehman's collapse), the question of the "legitimate expectations" of third party custodians can cause difficulties, if the borrower goes bust.
Federal Reserve Collateral Guidelines Introduction Securities
An institution may designate a third party custodian to provide custody services for collateral pledged to a Federal Reserve Bank. Third party custody ...
www.frbdiscountwindow.org/frcollguidelines.pdf - Similar
http://www.google.com/search?source=ig&hl=en&rlz=&=&q="third...
http://www.google.com/search?source=ig&hl=en&rlz=&=&q="third...
Ps I would strongly advise your client to write in his native Italian and have it translated by a professional, as I did to one of my clients just yesterday. Reading it is like driving in thick fog with no lights.
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Note added at 3 hrs (2011-06-22 12:57:55 GMT)
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The client is always right when she/he pays. I agreed to do mine on two conditions:
1) I would charge on a time basis and it might cost as much as a translation;
2) they gave me the telephone number of the author.
There was a third condition, which I decided was not feasible: 2) they gave me a crystal ball.
Good luck :)
Federal Reserve Collateral Guidelines Introduction Securities
An institution may designate a third party custodian to provide custody services for collateral pledged to a Federal Reserve Bank. Third party custody ...
www.frbdiscountwindow.org/frcollguidelines.pdf - Similar
http://www.google.com/search?source=ig&hl=en&rlz=&=&q="third...
http://www.google.com/search?source=ig&hl=en&rlz=&=&q="third...
Ps I would strongly advise your client to write in his native Italian and have it translated by a professional, as I did to one of my clients just yesterday. Reading it is like driving in thick fog with no lights.
--------------------------------------------------
Note added at 3 hrs (2011-06-22 12:57:55 GMT)
--------------------------------------------------
The client is always right when she/he pays. I agreed to do mine on two conditions:
1) I would charge on a time basis and it might cost as much as a translation;
2) they gave me the telephone number of the author.
There was a third condition, which I decided was not feasible: 2) they gave me a crystal ball.
Good luck :)
Note from asker:
| I know Jim, it's horrible and I have always done so but this is a client's client and I don't know what came over me but I agreed to it! I think this is the most difficult job I have ever done and will never anything like this again!! |
| Thanks, I need it - I did insist on payment by the hour and am asking constant questions, but I really wish I'd requested the crystal ball!! ;) |
4 KudoZ points awarded for this answer.
Comment: "Thanks very much all - I used this."
1 min
Thomas Roberts
Native in Italian
&
English
Specializes in field
Multilingual academic lawyer
Native in: English (Variant: Scottish) 
, Italian (Variants: Calabrian (Calabrese), Standard-Italy, Lombard)
Works in: Italian to English, German to English, French to English, and 3 more.
Related KudoZ points
:
994
legitimate expectations of third parties
affidamento is often translated as legitimate expectations, which may make sense here too
2 hrs
Pompeo Lattanzi
Italy
Italy
Native in Italian
Works in field
Italy
INTELLIGENCE INSIDE
Native in: Italian
Works in: English to Italian, Italian to English
Related KudoZ points
:
91
third parties reliability
If I may join in this guessing game...
What your client says doesn't make sense, not even in Italian. "affidamento dei terzi" OR "efficacia verso i terzi" are two totally unrelated and diverse concepts.
I am certainly not paying any compliments to his/her intellectual skills, but I have a suspicion he/she might have meant "affidabilità" (hence my translation) which might be in line with the last part of the paragraph: "and more broadly, market stability, which is ultimat...."
What your client says doesn't make sense, not even in Italian. "affidamento dei terzi" OR "efficacia verso i terzi" are two totally unrelated and diverse concepts.
I am certainly not paying any compliments to his/her intellectual skills, but I have a suspicion he/she might have meant "affidabilità" (hence my translation) which might be in line with the last part of the paragraph: "and more broadly, market stability, which is ultimat...."
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