Glossary entry (derived from question below)
German term or phrase:
Kapitalforderung
English translation:
claim under equity instrument
Added to glossary by
Laurel Porter (X)
Mar 11, 2006 05:06
18 yrs ago
7 viewers *
German term
Laurel Porter (X)
Kapitalforderung
German to English
Bus/Financial
Investment / Securities
target fund management company
Da es sich bei Genussrechten um **Kapitalforderungen** handelt, die nicht in § 11 BewG bezeichnet sind, wird in der Literatur die Auffassung vertreten, diese seien nach § 12 BewG zu bewerten.
Based on an Allianz Profit Participation Certificate document I've found, I'm thinking of "interest-bearing asset" here... It was occasionally muddled up with other terms, though, so I'd appreciate any other suggestions. TIA!
Based on an Allianz Profit Participation Certificate document I've found, I'm thinking of "interest-bearing asset" here... It was occasionally muddled up with other terms, though, so I'd appreciate any other suggestions. TIA!
Proposed translations
(English)
| 4 | claim under equity instrument |
RobinB
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| 4 | Debt capital |
Maya Jurt
|
| 3 | Capital dues |
Steven Blanchard
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Proposed translations
6 hrs
Selected
claim under equity instrument
There is also such a term as "capital claim" in English, but it occurs very rarely. However, see http://www.valuebasedmanagement.net/methods_mva.html
Section 11 of the Bewertungsgesetz lists various equity instruments, primarily shares, and prescribes the valuation methodology for them. Section 12 starts:
(1) Kapitalforderungen, die nicht im § 11 bezeichnet sind, und Schulden sind mit dem Nennwert anzusetzen, wenn nicht besondere Umstände einen höheren oder geringeren Wert begründen.
This makes it very clear that "Kapitalforderungen" relate to the equity instruments listed in section 11, so calling them "debt" is materially incorrect.
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Note added at 1 day3 hrs (2006-03-12 09:04:08 GMT)
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Sorry you think my suggestion is too wordy - don't see how, to be honest. This is a legal context, and legal contexts are often verbose. The point to note here is that this specific legal context (a law on valuation) has no real equivalent in what's frequently misnamed the "Anglo-Saxon" world, which merely tends to distinguish between "equity" and "debt".
You couldn't use "equity claims", which *would* be shorter, because these are claims on equity after all debt claims have been satisfied, which is not the case here.
Equity-linked notes (ELNs) are structured investment products (i.e. derivatives), and are also referred to as "reverse convertibles". The German term is "Aktienanleihen". These are a very popular form of retail derivative product in Germany, and have nothing whatsoever to do with the context of your question.
Section 11 of the Bewertungsgesetz lists various equity instruments, primarily shares, and prescribes the valuation methodology for them. Section 12 starts:
(1) Kapitalforderungen, die nicht im § 11 bezeichnet sind, und Schulden sind mit dem Nennwert anzusetzen, wenn nicht besondere Umstände einen höheren oder geringeren Wert begründen.
This makes it very clear that "Kapitalforderungen" relate to the equity instruments listed in section 11, so calling them "debt" is materially incorrect.
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Note added at 1 day3 hrs (2006-03-12 09:04:08 GMT)
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Sorry you think my suggestion is too wordy - don't see how, to be honest. This is a legal context, and legal contexts are often verbose. The point to note here is that this specific legal context (a law on valuation) has no real equivalent in what's frequently misnamed the "Anglo-Saxon" world, which merely tends to distinguish between "equity" and "debt".
You couldn't use "equity claims", which *would* be shorter, because these are claims on equity after all debt claims have been satisfied, which is not the case here.
Equity-linked notes (ELNs) are structured investment products (i.e. derivatives), and are also referred to as "reverse convertibles". The German term is "Aktienanleihen". These are a very popular form of retail derivative product in Germany, and have nothing whatsoever to do with the context of your question.
4 KudoZ points awarded for this answer.
Comment: "I'm sure this is the most correct - as you point out, it doesn't really exist in the Anglophone world. I ended up going with the somewhat dodgy "capital claim", partly because of the parallel "debt claim" that popped up later - and deadlines loomed.
Your explanations are very helpful indeed, Robin. Many thanks to you and to everyone who contributed!"
4 hrs
Debt capital
Differences Between Debt and Equity Capital
Debt Capital: Debt capital is represented by funds borrowed by a business that must be repaid over a period of time, usually with interest. Debt financing can be either short-term, with full repayment due in less than one year, or long-term, with repayment due over a period greater than one year. The lender does not gain an ownership interest in the business and debt obligations are typically limited to repaying the loan with interest. Loans are often secured by some or all of the assets of the company.
Equity Capital: Equity capital is represented by funds that are raised by a business, in exchange for a share of ownership in the company. Equity financing allows a business to obtain funds without incurring debt, or without having to repay a specific amount of money at a particular time.
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Note added at 12 hrs (2006-03-11 17:40:51 GMT)
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Bewertungsgesetz. BFH. Bundesfinanzhof ... nämlich in das sogenannte Debt Capital (fremdkapitalähnliches Kapital), und zum anderen in das ...
www.diplom.de/db/diplomarbeiten8584.pdf
Genussschein
Je nach Kundenanforderung kann er als Eigenkapital- oder Fremdkapital-Genussschein ausgestaltet sein. Der Genussschein (nach HGB) hat eine feste Laufzeit ...
www.westlb.de/.../wir_ueber_uns/genussschein.standard.gid-N...
In an ideal structure, profit participation rights are treated as debt capital in the tax balance sheet, but as equity capital in the commercial balance sheet.
http://www.westlb.de/cms/sitecontent/westlb/ui/en/aktuelle_t...
Debt Capital: Debt capital is represented by funds borrowed by a business that must be repaid over a period of time, usually with interest. Debt financing can be either short-term, with full repayment due in less than one year, or long-term, with repayment due over a period greater than one year. The lender does not gain an ownership interest in the business and debt obligations are typically limited to repaying the loan with interest. Loans are often secured by some or all of the assets of the company.
Equity Capital: Equity capital is represented by funds that are raised by a business, in exchange for a share of ownership in the company. Equity financing allows a business to obtain funds without incurring debt, or without having to repay a specific amount of money at a particular time.
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Note added at 12 hrs (2006-03-11 17:40:51 GMT)
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Bewertungsgesetz. BFH. Bundesfinanzhof ... nämlich in das sogenannte Debt Capital (fremdkapitalähnliches Kapital), und zum anderen in das ...
www.diplom.de/db/diplomarbeiten8584.pdf
Genussschein
Je nach Kundenanforderung kann er als Eigenkapital- oder Fremdkapital-Genussschein ausgestaltet sein. Der Genussschein (nach HGB) hat eine feste Laufzeit ...
www.westlb.de/.../wir_ueber_uns/genussschein.standard.gid-N...
In an ideal structure, profit participation rights are treated as debt capital in the tax balance sheet, but as equity capital in the commercial balance sheet.
http://www.westlb.de/cms/sitecontent/westlb/ui/en/aktuelle_t...
4 hrs
Steven Blanchard
Native in English
Business & Marketing Translation
Native in: English
Works in: German to English, Polish to English, Spanish to English, and 13 more.
Capital dues
This is the term you need. I'll see if I can find some more on the web for you.
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Note added at 4 hrs (2006-03-11 09:22:15 GMT)
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http://branchenportal-deutschland.aus-stade.de/ec2.htm
About 2/3 of the way down the page :-))
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Note added at 1 day10 hrs (2006-03-12 15:29:53 GMT)
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I don't see the connection with a club. My interpretation is that it refers to capital due in.
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Note added at 4 hrs (2006-03-11 09:22:15 GMT)
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http://branchenportal-deutschland.aus-stade.de/ec2.htm
About 2/3 of the way down the page :-))
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Note added at 1 day10 hrs (2006-03-12 15:29:53 GMT)
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I don't see the connection with a club. My interpretation is that it refers to capital due in.
Peer comment(s):
| neutral |
RobinB
: Steven, I'm sure you found this term in Eichborn (not a reliable dictionary) and the weird online dictionary you refer to. But what does "capital dues" actually *mean*?/To me, "capital dues" are capital contributions to a club. What do you think they are?
23 hrs
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Well I wasn't aware that the Der Kleine Eichborn was considered to be an unreliable dictionary. I would say that the meaning is self explanatory as in you know what capital is, and you know what due means so that should answer your question.
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Discussion
- niedrig verzinst (unter 3 %) oder - hoch verzinst (über 9 %) sind
sowie die Kündbarkeit für längere Zeit (d. h. für mindestens 4 Jahre) ausgeschlossen ist. Does this change things?