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  3. Finance (general)

zugelassen

English translation: authorised to operate

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:zugelassen
English translation:authorised to operate
Entered by: Sebastian Witte

20:16 Jan 7, 2014
German to English translations [PRO]
Bus/Financial - Finance (general) / Banking/Opponent's brief in patent litigation (probably to back up rejoinder)
German term or phrase: zugelassen
hilfsweise der Beklagten zu 2) zu gestatten, die vorläufige Vollstreckung durch Sicherheitsleistung einer Bank- oder Sparkassenbürgschaft eines ***in der EU zugelassenen Kreditinstituts*** abzuwenden.

of a bank licensed in the EU?
of bank licensed to operate in the EU?
of a bank accredited in the EU?
of an EU-accredited bank?
Other?
Sebastian Witte
Germany
Local time: 18:14
authorised
Explanation:
This is the standard term used in EU legislation, e.g.

Directive 2002/87 (Financial Conglomerates)
Directive 2006/48 (CRD-1)
Directive 2009/138 (Solvency II)
Directive 2011/61 (AIFM)

to cite just a few of the directives contained in our own reference database. There are many, many more.
Selected response from:

RobinB
United States
Local time: 11:14
Grading comment
I have used Johanna's version. In light of the excellent link provided by her, it was really a tough judgment call to make. I would also like to thank Virginie whose version I found a bit too long, though.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4acredited
David Hollywood
4 +2authorised
RobinB
3 +2authorised to operate
Johanna Timm, PhD
5licensed/registered in the EU
Claudia Hoffmann
3(EU-)registered (bank)
Michael Martin, MA
3to which authorisation has been granted to operate (within the European Union)
Virginie Mair


Discussion entries: 1





  

Answers


4 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
acredited


Explanation:
Ö=

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Note added at 6 mins (2014-01-07 20:23:45 GMT)
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should read "accredited" of course

--------------------------------------------------
Note added at 7 mins (2014-01-07 20:24:53 GMT)
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sorry about that ...

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Note added at 10 mins (2014-01-07 20:27:53 GMT)
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you could get away with "approved" but I prefer "accredited"

David Hollywood
Local time: 13:14
Meets criteria
Works in field
Native speaker of: English
PRO pts in category: 353

Peer comments on this answer (and responses from the answerer)
agree  H. C. Centner: a good choice
5 mins
  -> ty Helen :)
agree  Ramey Rieger (X): Take the credit for it
7 mins
  -> blushing Ramey and HNY :)
agree  Wendy Lewin
3 hrs
agree  Camilla Seifert: This is good!
8 hrs
neutral  Virginie Mair: Banks are not "accredited" to operate, or at least not in the EU. Their systems or training schemes may be, but that is a different topic.
15 hrs
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40 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
authorised to operate


Explanation:
another option:
"The European Banking Authority (EBA) published today an updated list of credit institutions authorised to operate within the European Union and European Economic Area countries."
http://www.eba.europa.eu/-/publication-of-the-credit-institu...

Johanna Timm, PhD
Canada
Local time: 09:14
Does not meet criteria
Native speaker of: Native in GermanGerman
PRO pts in category: 179

Peer comments on this answer (and responses from the answerer)
agree  writeaway
1 hr
  -> so glad that Sebastian liked the link:-)
agree  owhisonant (X)
2 hrs
  -> thanks, owhisonant
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46 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
authorised


Explanation:
This is the standard term used in EU legislation, e.g.

Directive 2002/87 (Financial Conglomerates)
Directive 2006/48 (CRD-1)
Directive 2009/138 (Solvency II)
Directive 2011/61 (AIFM)

to cite just a few of the directives contained in our own reference database. There are many, many more.

RobinB
United States
Local time: 11:14
Meets criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 360
Grading comment
I have used Johanna's version. In light of the excellent link provided by her, it was really a tough judgment call to make. I would also like to thank Virginie whose version I found a bit too long, though.

Peer comments on this answer (and responses from the answerer)
agree  writeaway
1 hr
agree  Paul Skidmore: this is the correct term for banks and credit institutions in this context
11 hrs
  -> As well as insurers, payment services institutions, rating agencies, etc., etc. It's the term we use consistently in our own translations of legislative texts and regulatory documents, accounting standards, and so on..
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
(EU-)registered (bank)


Explanation:
See example below:

"As of 1994, any EU registered bank has been allowed to open in Spain in order to create more competition and freedom for businesses."


    Reference: http://www.donquijote.co.uk/blog/bank-of-spain
Michael Martin, MA
United States
Local time: 12:14
Meets criteria
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 147
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
to which authorisation has been granted to operate (within the European Union)


Explanation:
You are absolutely right, they do need licenses, but there is no such thing as an "EU license", because "the granting of licences to credit institutions remains under the remit of the competent national authority/ECB". Because your sentence relates to the EU in general, I suggest to use this phrase (a quote of EBA) which implies that the said entities have been granted licenses in the relevant countries of operation.
Source: http://www.eba.europa.eu/risk-analysis-and-data/credit-insti...

Alternatively, if you really need to take a shortcut, use RobinB's "authorised".

Example sentence(s):
  • "To increase transparency within the European Single market, the European Banking Authority (EBA) publishes on a regular basis a list of credit institutions to which authorisation has been granted to operate within the European Union and EEA countries."

    Reference: http://www.eba.europa.eu/risk-analysis-and-data/credit-insti...
Virginie Mair
Switzerland
Local time: 18:14
Does not meet criteria
Specializes in field
Native speaker of: Native in FrenchFrench, Native in EnglishEnglish
PRO pts in category: 12
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11 hrs   confidence: Answerer confidence 5/5
licensed/registered in the EU


Explanation:
The bank is licensed/registered in the EU.

Claudia Hoffmann
Germany
Local time: 18:14
Meets criteria
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 22

Peer comments on this answer (and responses from the answerer)
neutral  Virginie Mair: licenses are granted by individual countries, there is no such thing as an EU-wide license (for banks, that is).
4 hrs
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