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The 2nd Probonoversary

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Taglio tisana
sindaco monocratico

Glossary entry

Italian term or phrase:

esposizioni

English translation:

exposures

Added to glossary by Jenny Cowd
Apr 30, 2015 10:24
9 yrs ago
7 viewers *
Italian term

esposizioni

Italian to English Bus/Financial Finance (general) amendments to articles of association for bank foundations
In ogni caso, il patrimonio non può essere impiegato, direttamente o indirettamente, in esposizioni verso un singolo soggetto per ammontare complessivamente superiore a un terzo del totale dell’attivo dello stato patrimoniale della Fondazione valutando al fair value esposizioni e componenti dell’attivo patrimoniale.
Proposed translations (English)
4 +1 exposures
4 +2 exposure
Votes to reclassify question as PRO/non-PRO:

Non-PRO (1): philgoddard

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Discussion

James (Jim) Davis Apr 30, 2015:
An exposure is a loan an investment a position, something you can lose money on. I translate the word fifty times a day. The concept is pretty simple. You don't put all your eggs in one basket. You have a huge banking group and you just make sure that you don't lend (with factoring or leasing or project finance, or by buying bonds) to or invest too much in (by buying shares) the same "name", the same company, the same organisation, the same group of companies or the same government. This is concentration risk. If the reader knows what concentration risk is, the reader is not going to notice how many words finish with an "s", just as long as the English is natural. If the reader doesn't know what concentration risk is (geographical, sectoral or single name) then the reader is probably not going to have a clear idea anyway.
This to me is like a mechanic saying "one cylinder isn't firing" and a linguist coming along and saying but you should have said "one of the cylinders isn't firing" to which the mechanic says, "Yeah, well, you got a spanner?"
CristianaC Apr 30, 2015:
the term complessivamente is creating the problem here imo
complessivamente implies that the "esposizioni" mentioned by the author refer to the various positions with a single party
otherwise you would not use complessivamente but "individually"
i.e. the idea generally is that "single name exposures" should not individually exceed one third- but the author is actually saying "all the positions (exposures) to a specific party should not altogether exceed one third"
the two ideas in essence mean the same thing. just make sure that you convey this idea
philgoddard Apr 30, 2015:
Maybe, but I don't think it was worth posting a separate answer. The question should have been in the singular, as is normal in dictionaries and glossaries.
James (Jim) Davis Apr 30, 2015:
@Phil If it were English I would agree, because logically each exposure is to a different party, but in Italian this is normal and acceptable. The reader knows that there are just as many exposures as there are parties and that is sufficient.
Either way in English this is single name exposure which Googles much much better in the plural than in the singular.
https://www.google.co.uk/search?source=ig&hl=en&rlz=&q="sing...
philgoddard Apr 30, 2015:
I may be wrong But I think it should be "esposizioni verso singoli soggetti".

Proposed translations

+1
21 mins
Selected

exposures

They can't lend more than a third of their total assets to a single party. This is to avoid exposure to concentration risk (all your eggs in one basket). Clearly they mean organisation and not an individual here. The high figure of "one third" is because they will probably hold large quantities of government bonds BOTs and the like. Or perhaps they invest in banks. Holding shares in banks is also an exposure although the money is not lent.

--------------------------------------------------
Note added at 1 hr (2015-04-30 12:03:00 GMT)
--------------------------------------------------

This is highly technical financial terminology, not something you would go to a learners' dictionary for Ann. It is specifically about "single name exposure".

If you read the financial times you see that it is commonly used in the plural:
S&P downgrades StanChart on exposure to credit losses ...
www.ft.com › Companies › Financials
28 Nov 2014 - Giles Edwards, one of the authors of the S&P report, said: “The one thing we would pick them up on is single name exposures.” However, S&P ...

Also the European Central Bank which used it in the plural:

Annex to the Report on Industry Practices for Large ...
www.eba.europa.eu/documents/10180/16106/LE_industryannex.pd...
7.2 One of the reporting banks requires that single name exposures in excess of. 10% of its capital base are approved by the Board of Directors. In addition, it.


Peer comment(s):
disagree Ann Pollak : Jim, Oxford Dictionary says this is an uncountable noun in this sense. http://www.oxfordlearnersdictionaries.com/definition/english...
15 mins
agree David Turnbull
1 hr
Appreciated
agree Edgar Bettridge : yes definitely with an s in context of complessivamente. Several exposures combining into one exposure. Also total assets, not net. NB "Fondazione" context where massive concentration risk goes with territory eg MPS.
20 hrs
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4 KudoZ points awarded for this answer. Comment: "thank you to everyone who contributed to this lively debate! It was all really useful info."
+2
19 mins

exposure

I would translate this literally.
"The net equity cannot be employed directly or indirectly in exposure to an individual person [or party] for an amount . . . "
Alternately, you might say
"The net equity cannot be employed directly or indirectly in risk positions entailing exposure to an individual person [or party] for an amount . . . "
Peer comment(s):
neutral James (Jim) Davis : Equity is net assets, what is "net" equity Ann? What is it net of? // "equity=mezzi propri=patrimonio netto=net assets" "net equity=? //@Phil We are here to help IMHO "net equity" is wrong, so I feel it is helpful to say so.
3 mins
Jim, you can also write "net assets"; the terms are comparable.
agree Giovanni Pizzati (X)
53 mins
agree philgoddard : Exposures in this context, obviously. The question is not about "patrimonio".
2 hrs
Something went wrong...
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