level of collateral
German translation: Deckungsquote
| 12:04 Aug 21, 2019 |
| English to German translations [PRO] Bus/Financial - Investment / Securities / Fondsprospekt | |||||||
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|  Selected response from: Annette Scheler Germany Local time: 00:44 | ||||||
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| Summary of answers provided | ||||
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| 4 +1 | Deckungsquote |
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| 3 | der Absicherungsgrad; (Immobilienfonds) Beleihungsgrad |
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| 3 | Maß an Sicherheit |
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| 1 | Marginquote |
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| Discussion entries: 5 | |
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Answers
9 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1Deckungsquote Explanation: Ist meine ich der gesuchte Begriff |
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38 mins confidence:
der Absicherungsgrad; (Immobilienfonds) Beleihungsgrad Explanation: Collateral otherwise, as translated out of DEU: ein Sicherungsgut. Besicherungsquote made me automatically think of the Beleihung (Absicherung vs. Abzocke?) signage at the Pfandhaus.... Example sentence(s):
Reference: http://www.universal-investment.com/de/themen/presse/abgesic... |
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21 hrs confidence:
Maß an Sicherheit Explanation: Als Alternative zu den bereits gemachten Vorschlägen: Unter der Überschrift "Level of Collateral" wie folgt die Übersetzung aus einem Prospekt, den ich gerade überarbeite: „Maß der Sicherheit Die Verwaltungsgesellschaft ermittelt das für Geschäfte mit derivativen OTC-Finanzinstrumenten und Techniken der effizienten Portfolioverwaltung erforderliche "Maß an Sicherheit" mit Bezug auf die anwendbaren Grenzen für das Kontrahentenrisiko, die im vorliegenden Prospekt dargelegt sind, und unter Berücksichtigung der Art und der Merkmale der Geschäfte, der Bonität und der Identität der Kontrahenten und der vorherrschenden Marktbedingungen." |
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1 day 5 hrs confidence:
Marginquote Explanation: Schade, dass ich nichts Substanzielles beitragen kann. _____________________________________________ "Note, however, that ISDA recently published the 2001 ISDA Margin Provisions, which are intended to replace the above documents, and which it is hoped will be used more and more in the future. All these documents are commonly referred to as ISDA's 'credit support documents'." (aus: An Introduction to the Documentation of OTC Derivatives, Allen & Overy https://de.wikipedia.org/wiki/Allen_&_Overy , Mai 2002) "Element 4: Eligible collateral for margin Background discussion 4(a) Even in cases where margin is collected in an amount sufficient to fully protect a firm from the default of a derivative counterparty, the firm may nonetheless be exposed to loss if that margin is not in a form that can be readily liquidated at full value at the time of default, particularly during a period of financial stress. 4(b) Accordingly, the BCBS and IOSCO have considered the types of collateral that should be deemed eligible for use in meeting the margin requirements, evaluating several different approaches. One approach would be to limit eligible collateral to only the most liquid, highest-quality assets, such as cash and high-quality sovereign debt, on the grounds that doing so would best ensure the value of collateral held as margin could be fully realised in a period of financial stress. Another approach would be to permit a broader set of eligible collateral, including assets like liquid equity securities and corporate bonds, and address the potential volatility of such assets through application of appropriate haircuts to their valuation for margin purposes. Potential advantages of the latter approach would include (i) a reduction of the potential liquidity impact of the margin requirements by permitting firms to use a broader array of assets to meet margin requirements and (ii) better alignment with central clearing practices, in which CCPs frequently accept a broader array of collateral, subject to collateral haircuts. After evaluating each of these alternatives, the BCBS and IOSCO have opted for the second approach (broader eligible collateral)." (aus: Basel Committee on Banking Supervision Board of the International Organization of Securities Commissions Second Consultative Document, "Margin requirements for non-centrally cleared derivatives"). Das Verlustrisiko für den Anleger sei auch nicht wirksam durch das Margin-Call-Verfahrenoder durch Stop-Loss-Orders begrenzbar. So können die Kursausschläge eines Basiswerts innerhalb kürzester Zeit so hoch sein, dass dem CFD-Anbieter gar keine Zeit mehr bleibt, beim Anleger eine Nachzahlung zu seiner hinterlegten Sicherheitsleistung anzufordern (Margin Call). [...] "Besicherungsarten Als Besicherungsinstrumente sind Variation Margin (VM, siehe Infokasten Seite 36) und Initial Margin vorgesehen. Variation Margin dient dem regelmäßigen Ausgleich von Wertschwankungen der Derivatekontrakte. Initial Margin dagegen soll aktuelle und künftig zu erwartende Wertschwankungen abdecken, die zwischen dem letzten Austausch von Margins und der Wiederabdeckung des Risikos oder der Veräußerung der Position entstehen können, wenn ein Kontrahent ausfällt." (Aus BaFin Journal 12/2016) "CCP Question 2 [last update 20 March 2013] Article 46 of EMIR – collateral requirements and recording of client assets: What is the requirement on a CCP for the recording of financial instruments posted to it as margins, default fund contributions or contributions to other financial resources? Is it possible for a CCP to record the value assigned to financial instruments post-haircut?" Aus: Europ. Finanzbehörde ESMA, Kurzbezeichnung Dokument EMIR Q&A, Langbezeichnung Dokument"Questions and Answers Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR)" -------------------------------------------------- Note added at 1 day 5 hrs (2019-08-22 17:44:05 GMT) -------------------------------------------------- Für "Höhe der Margin" erhalte ich -- eventuell -- relevante Treffer. Ich bleibe bei einer Antwortsicherheit von 20% (=1). "Was versteht man unter CFD? - Finanzderivate www.finanzderivate.net › was-versteht-man-unter-cfd ... beim Handel mit Finanzderivaten taucht der Terminus CFD immer wieder auf. ... Hebelwirkung zu verzeichnen ist, liegt die ###Höhe der Margin### immer nur bei ... __________ Verfügungen - Allgemeinverfügung bezüglich sog ... - BaFin https://www.bafin.de › vf_190801_allgvfg_Differenzgeschaefte 23.07.2019 - Die ###Höhe der Margin### wird vom CFD -Anbieter für jeden Basiswert genau ...... -framework-distribution-otc-derivatives-binary-options-cfds. ____ Ein Broker ist Ihr Handelspartner beim CFD-Trading Bei einem CFD können Sie in unterschiedliche Anlageklassen wie Rohstoffe, Indizes, Devisen oder Wertpapiere investieren. Der Handel findet ausschließlich außerbörslich im Over-the-counter-Handel (OTC) statt.03.04.2018 CFD-Trading: Hochspekulative Finanzderivate - Biallo.de https://www.biallo.de › aktienfonds › news › cfd-trading-hochspekulative-fi... ________ Derivate im Portfoliomanagement https://books.google.de › books Thomas Bossert - 2017 - Business & Economics ... immer wieder Diskussionen über die angemessene ###Höhe der Margin### aufkommen, ... Im OTC-Bereich wird mittlerweile Cash als Sicherheitsleistung eindeutig ... -------------------------------------------------- Note added at 1 day 5 hrs (2019-08-22 17:46:06 GMT) -------------------------------------------------- https://www.bafin.de/DE/Aufsicht/BoersenMaerkte/Derivate/EMI... -------------------------------------------------- Note added at 1 day 5 hrs (2019-08-22 17:58:37 GMT) -------------------------------------------------- 7. Collateral/credit support Another way that market participants can reduce their credit risk, or risk of loss if their counterparties fail to perform their obligations, is through the use of collateral (alternatively known as credit support, or ###margin###). In the example above, assuming that we are both solvent, even if close-out netting is enforceable I still have a net exposure to you of $5. In other words, if you fail to perform your obligations, even if I can apply close-out netting, you will owe me $5. If we had agreed to "collateralise" our relationship, in a perfect world you would have provided me with collateral (such as government bonds) worth $5. The idea is that if you fail to perform your obligations, I can keep the collateral worth $5. In this way, I am not at risk of losing anything. My credit risk has (basically) been eliminated. It might be helpful to compare this situation to a residential mortgage. If a bank lends a homebuyer the money to buy a house, the homebuyer gives the bank a mortgage. The mortgage entitles the bank, if the homebuyer does not make his or her mortgage payments to the bank, to sell the house and keep the proceeds to settle the debt owed to it by the homebuyer. Participants in the OTC derivatives markets do not always collateralise their relationships, but they are increasingly doing so. Example sentence(s):
https://www.bafin.de/DE/Aufsicht/BoersenMaerkte/Derivate/EMIR/Besicherung/besicherung_otc_node.html |
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