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  3. Investment / Securities

unechte Lombardkredite

07:51 Apr 30, 2011
This question was closed without grading. Reason: No acceptable answer

German to English translations [PRO]
Bus/Financial - Investment / Securities
German term or phrase: unechte Lombardkredite
Im Rahmen des Kreditgeschäftes im Sinne des § 1 Abs. 1 Nr. 2 KWG werden Privat- und Firmenkunden (unechte) Lombardkredite gegen Sicherheiten gewährt.

The Lombard bit is obviously given but I am not sure of the term to distinguish between echte and unechte in this sense. This comes in an annual report in the section dealing with risk management.
Douglas Arnott
Local time: 21:18


Summary of answers provided
3non-genuine lombard loan
Andrea Garfield-Barkworth
Summary of reference entries provided
echter vs. unechter
Norbert Hermann

Discussion entries: 1





  

Answers


2 days 2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
non-genuine lombard loan


Explanation:
Default risk

Within the Group, lending business as defined by section 1 (1) no. 2 of the German Banking Act is performed exclusively by Baader Service Bank GmbH. This guarantees customers (non-genuine) Lombard loans against collateral in listed securities, the lending value of which is set at an extremely conservative level. Credit risk is managed on a decentralised basis and can generally be classified as low.


    Reference: http://irreports.equitystory.com/cgi-bin/show.ssp?fn=page&pa...
Andrea Garfield-Barkworth
Germany
Local time: 21:18
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
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Reference comments


1 hr
Reference: echter vs. unechter

Reference information:
Unter einem Lombardkredit (auch Lombardierung genannt) versteht man die Vergabe eines kurz- bis mittelfristigen Darlehens gegen Verpfändung beweglicher Sachen oder Rechte. Die Bereitstellung erfolgt in einer Summe für eine bestimmte Laufzeit zu festen Zinsen (Lombardsatz).
Differenziert werden hierbei allerdings der echte und unechte Lombardkredit:

1. Echter Lombardkredit
-> Verbuchung und Bereitstellung auf einem separaten Darlehenskonto

2. Unechter Lombardkredit
-> Bereitstellung und Verbuchung auf dem Kontokorrentkonto (Girokonto) des Darlehensnehmers
-> ähnlich einem Kontokorrentkredit


    Reference: http://www.finanz-lexikon.de/lombardkredit_94.html
Norbert Hermann
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 4
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