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English to Russian: OVERALL MARKET TREND ANALYSIS General field: Bus/Financial Detailed field: Finance (general)
Source text - English OVERALL MARKET TREND ANALYSIS
While the current situation on the Russian financial market is unstable following the 1998 financial crisis, the residential mortgage loan market provides both opportunities and risks for lenders. Withdrawal of funds from the securities markets by non-residents resulted in a reduction of the investment base on the GKO market by more than $60 billion. The funds from the securities market flew to hard currency, which resulted in a dramatic shortfall of Central Bank gold and hard currency reserves. As a result, the Central Bank raised refinancing rates which triggered higher rates in the consumer loan market, including mortgages.
The financial crisis in 1998 significantly reduced the number of Russian banks, including 70% of the top 20 banks in Russia. These banks were brought down primarily by an over-dependence on speculative investments including government securities. Nevertheless, eight Moscow-based banks originated over 2,130 mortgage loans in 1998 to the general public in the amount of over $77.5 million. By 1999, Russian banks’ approach to residential mortgage lending changed to reflect the following:
• Compliance to industry-recognized standardized documentation
• Emphasis on targeted borrowers with verifiable income
• Loan amounts determined by verified income
With passage of the Law on Mortgage in 1998, Russian banks began making “traditional mortgage loans with an emphasis on targeted use of funds and careful borrower underwriting. According the market statistics, default rates on residential mortgage loans continue to be less than 1-2%, which is much lower than other loan types offered on the market.
Translation - Russian Анализ общих тенденций рынка
В то время как текущая ситуация на российском финансовом рынке отличается нестабильностью, вызванной финансовым кризисом 1998 года, рынок жилищного ипотечного кредитования предоставляет кредиторам как возможности, так и определенный риск. Отвод денежных средств с рынка ценных бумаг нерезидентами привел к сокращению инвестиционной базы ГКО на более чем 60 миллионов долларов. Ресурсы рынка недвижимости были переведены в твердую валюту, что привело к чрезвычайному сокращению запасов золота и валютных резервов Центрального Банка. В результате Центральный Банк повысил учетные ставки, что привело к повышению ставок на потребительском рынке кредитования, включая ипотеку.
Финансовый кризис в 1998 году значительно сократил число российских банков, включая 20 крупнейших банков России. Причиной банкротства этих банков стала, прежде всего, чрезмерная зависимость от спекулятивных инвестиций, включая государственные ценные бумаги. Несмотря на это, восемь базирующихся в Москве банков предоставили населению в 1998 году более 2 130 ипотечных кредитов общей суммой более 77,5 миллионов долларов. К 1999 году подход российских банков к ипотечному кредитованию изменился в соответствии со следующими требованиями:
• Соответствие признанным прмышленным нормам стандартизированной документации
• Акцент на целевые кредиты заемщикам с проверенными данными о доходах
• Размеры кредитов, определяемые подтвержденными данными о доходах
С принятием Закона об ипотеке в 1998 российские банки стали выдавать «традиционные кредиты с акцентом на целевое использование фондов с тщательным гарантированием размещения займа.» В соответствии с рыночной статистикой процентные ставки за просроченный платеж для ипотечных кредитов остаются на уровне менее 1-2%, что значительно ниже других типов кредитов, предлагаемых на рынке.
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Ruprecht-Karls-Universität Heidelberg
Experience
Years of experience: 15. Registered at ProZ.com: Oct 2006.
Adobe Acrobat, Adobe Photoshop, DejaVu, Frontpage, Indesign, Microsoft Excel, Microsoft Word, Across Nero, MS Project, Multiterm, Simple Concordance Program, Other CAT tool, Passolo, Powerpoint, STAR Transit, Trados Studio, Wordfast
To start with, I am a native speaker of Russian currently living and working in Baden-Württemberg, Germany. I have a diploma in Translation studies for IT and over 7 years of work experience as an inhouse translator at one of the largest translation agency in the South of Germany, RKT Dokumentaitons- und Übersetzungs-GmbH.
My responsibilities there included translation of technical documentation from German and English into Russian. Besides, after only 2 years I have been promoted to be the team manager of the translation division in that agency. During my time at RKT I have significantly broadened the range of software tools I can work with including diverse Office applications (such as MS Project, MS Office), CAT tools (SDL, Across, MemoQ, Transit, Heartsome XLIFF Editor, JTT) and even layout software (InDesign, CorelDraw). Besides, I have been working as a freelance translator for several translation agencies (languagewire, prodoc, zappmedia), which enabled me to extend the list of my areas of expertise significantly (e.g. medical equiment, automation technology, etc.). I have also added several new services to my portfolio, such as MT post-editing, terminology work, translation of keywords for search engines, etc.
My priority is always the highest quality even when working at high speed or under pressure. Currently, I am on maternity leave with my youngest daughter and in search of new interesting challenges. To find out more about my background, please visit my page on LinkedIN:
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