Sicherungsfall

English translation: claim event

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Sicherungsfall
English translation:	claim event
Entered by:	Michael Bailey

08:22 Aug 5, 2015

German to English translations [PRO]
Bus/Financial - Finance (general) / deposit guarantee schemes

German term or phrase: Sicherungsfall

Die zuständige Behörden haben den Eintritt eines *Sicherungsfalls* unverzüglich in einer überregionalen Zeitung und im Internet zu veröffentlichen und die Sicherungseinrichtung, der das betroffene Mitgliedsinstitut angehört, darüber zu informieren.

Relates to the new harmonised deposit protection / deposit guarantee systems entering force. Sicherungsfall has a meaning of an "insured event" in the case of an insurance claim, but I am not convinced that this term can also be used in relation to how a DGS operates. (http://www.proz.com/kudoz/german_to_english/law_patents/4633... addresses this).

In the concrete case of Austria the sentence above would mean that the FMA (as competent authority) would publish the occurrence of any *SICHERUNGSFALL* in the Amtsblatt der Wiener Zeitung - the notion of the überregionale Zeitung is one of a national newspaper rather than one that is "supraregional".

Since such a SICHERUNGSFALL is conditional on the ability of a bank not to be able to pay out deposits Held, I wonder whether "in the case of default" might be appropriate.

Michael Bailey KudoZ activity Questions: 203 (none open) (12 closed without grading) Answers: 282 Austria
Local time: 05:48

a claim on the cross-guarantee scheme

Explanation:
(or possibly: a probable claim)
Could be barking up the wrong tree/scheme here, but I have assumed this is a version (or possible extension) of the Haftungsverbund, which is regularly translated as cross-guarantee scheme

Selected response from:

suew
United Kingdom
Local time: 04:48

Grading comment

I went for claim event in the end.
2 KudoZ points were awarded for this answer

Summary of answers provided

a claim on the cross-guarantee scheme

suew

...

Andreas Regner

Discussion entries: 5

RobinB

United States

11:37 Aug 5, 2015

The German DSGD Implementation Act doesn't use the term "Sicherungsfall", but - without looking at the wording of the equivalent Austrian legislation - I suspect that the German term (Entschädigungsfall) is being used as a catch-all term for which the Austrian law uses two terms. I suggest you look at sections 10 and 11 of the German law:
(http://www.bgbl.de/xaver/bgbl/start.xav?startbk=Bundesanzeig...[%40attr_id%3D%27bgbl115s0786.pdf%27]__1438774635743).

Of course that probably doesn't help you any further because you already have "compensation event". How about something like "DGS claim event" or "DGS payout event"?

Michael Bailey

Austria

ASKER

Sicherungsfall cf. Entschädigungsfall

11:24 Aug 5, 2015

Thanks RobinB - seems very plausible although I think the one difference is that the Austrian ESAEG differentiates between Sicherungsfall (§9 ESAEG-E) and Entschädigungsfall (§ 46 ESAEG-E)

RobinB

United States

= Entschädigungsfall?

11:13 Aug 5, 2015

I rather suspect this is the Austrian equivalent of the "German German" term "Entschädigungsfall", which appears in the German DGSD-Umsetzungsgesetz. This "compensation event" also has to be notified by the competent national authority (BaFin in Germany) to the DGS of which the "CRR credit institution" is a member.

@Michael Bailey: please feel free to contact me privately if you come up against any other obscure DGS-related terminology, as I'm currently rather immersed in the topic (I do quite a lot of work for the German supervisory authorities).

Michael Bailey

Austria

ASKER

trigger event

11:12 Aug 5, 2015

Danke dkfmmmuc - ich bin in der Zwischenzeit auch der Meinung dass es nicht zu einem Zahlungsausfall gekommen ist - ich habe gerade im ESAEG-E (Entwurf für den Ministerrat des neuen Einlagensicherungs- und Anlegerentschädigungsgesetz) entdeckt, dass der Begriff Sicherungsfall unter §9 erwähnt wird - https://www.bmf.gv.at/rechtsnews/ESAEG_MR_TXT_150616.pdf?4xm...

m.E. handelt es sich daher um ein trigger event - ESAEG wird die nationale Umsetzung in Österreich von der DGS-D (Richtlinie 2014/49/EU) sein.

dkfmmuc

Drawdown of he deposit-guarantee fund

09:03 Aug 5, 2015

Ich würde es wahrscheinlich etwas umformulieren, weil es keinen konkreten Begriff für den Sicherungsfall gibt. Vielleicht hlft die Umformulierung "Inanspruchnahme des Einlagensicherungsfonds" weiter.

Begründung: Zum richtigen "default"/Zahlungsausfall ist es ja noch nicht gekommen.

Bin mir aber absolut unsicher, deshalb nur als Idee.

Answers

2 hrs confidence:

a claim on the cross-guarantee scheme

suew
United Kingdom
Local time: 04:48
Works in field
Native speaker of:

English
PRO pts in category: 6

Grading comment

I went for claim event in the end.

Notes to answerer

Asker: the cross-guarantee scheme (Haftungsverbund) - cf. CRR Art. 4 (127) is not quite the same as a DGS - deposit guarantee scheme - but the notion of a "claim" seems plausible.

2 hrs confidence:

...

Explanation:
Nur mal laut drüber nachgedacht: hier ist's kein Versicherungsfall; ein Sicherungsfalls (ein Kredit wird nicht zurückgezahlt) tritt ein, wenn bei drohender oder eröffneter Insolvenz Maßnahmen zu ergreifen sind, um bewegliche oder immaterielle Güter vor einer Wegnahme/Entfernung zu sichern, damit diese in die Insolvenzmasse eingehen können.
Hierzu werden oftmals im Vorfeld sogenannte Sicherungsübereignungen vorgenommen (teils physisch), um den Zugriff auf die Güter für mögliche Gläubiger zu sichern.

Ich finde den 'secured creditor', womit wohl eine Form des Gläubigerschutzes ausgedrückt wird, eine Art Rangfolge der Gläubiger.
Außerdem gibt es das 'security interest', ein Sicherungsrecht, was dann wohl im Sicherungsfall greift.

Wiki - Security Interest - It gives the beneficiary of the security interest certain preferential rights in the disposition of secured assets. Such rights vary according to the type of security interest, but in most cases, a holder of the security interest is entitled to seize, and usually sell, the property to discharge the debt that the security interest secures.

Manche Linguee-Vorschläge nutzen 'security case'...

Vielleicht hilft es...viel Erfolg

Andreas Regner
Germany
Local time: 05:48
Specializes in field
Native speaker of:

German

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