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Glossary entry

German term or phrase:

selig-Position

English translation:

deceased account

Added to glossary by philgoddard
Mar 22, 2010 03:18
14 yrs ago
1 viewer *
German term

selig-Position

German to English Bus/Financial Finance (general)
This is a report by a Swiss bank on customers who might have to be dropped because they don't comply with new disclosure requirements.

"Insbesondere wurde untersucht, inwieweit die US-Kundschaft Produkte nutzt, welche bei der (ggf. unfreiwilligen) Verabschiedung zu Problemen führen. Gemeint sind dabei insbesondere "banklagernd", Produkte mit festen Laufzeiten, Schrankfächer, selig-Positionen, Versandadresse USA und strukturierte Produkte."

I have absolutely no idea what this means, and I haven't found any relevant Google hits. It may be a term that's specific to this particular bank, but has anyone come across it?

Thanks in advance.
Proposed translations (English)
3 deceased accounts
2 dormant accounts

Discussion

philgoddard (asker) Mar 23, 2010:
Yes, it means deceased. The customer said: "Selig" means "deceased". In the Catholic church, you have persons who are "heilig" (= sainted) and others who are "selig" (first step to become sainted). In banking it means that the former beneficial owner of the account died and the money now belongs to the heirs, but is not yet allocated to each heir.
BrigitteHilgner Mar 22, 2010:
selig = deceased? Might this have anything to do with inherited money/funds?
Jon Fedler Mar 22, 2010:
typo? Looks to me like a typo for selling positions?

Proposed translations

6 hrs
Selected

deceased accounts

accounts whose owners are deceased; "selig" is a common term used in Swiss-German legal documents to define deceased persons.

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Note added at 11 hrs (2010-03-22 14:50:04 GMT)
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I have reference from a legal case in which I was involved and in which one of the parties involved was referred to as "selig", to mean that this person was deceased; e.g. "Herr XY, selig"

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Note added at 2 days14 hrs (2010-03-24 17:54:06 GMT) Post-grading
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Thanks, philgoddard
Note from asker:
Thanks very much. I considered this, but couldn't find any evidence for it (eg selig-Rechnung). Do you have any references or example sentences please?
Sorry I doubted you - you were quite right.
Something went wrong...
4 KudoZ points awarded for this answer.
13 hrs

dormant accounts

is its probable meaning (not touched in years)

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Note added at 13 hrs (2010-03-22 16:30:39 GMT)
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http://swiss-bank-accounts.com/e/banking/dormant_accounts/in...
Note from asker:
Thanks very much. Again, this is a possibility, but I need some kind of evidence that this is the correct translation.
Something went wrong...
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