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EE anodinas
DESDOBLE
This question was closed without grading. Reason: No acceptable answer
Jul 6, 2009 07:36
14 yrs ago
6 viewers *
Spanish term

... a comprar cédulas y bonos garantizados

Spanish to English Bus/Financial Finance (general)
Good morning.

I had understood cédulas to be "covered bonds", which is what I guess "bonos garantizados" are..

What is the distinction between these two in this sentence, which is about the ECB's plans to initiate its covered bond purchase programme today? Is it that cédulas is referring to bonds backed by mortgage loans and "garantizados" is referring to other types of debt-backed bonds?

Thanks for the help!
Proposed translations (English)
3 gilt-edged security
References
Have you looked at the ECB communiqué for inspiration?

Discussion

alidalc Jul 6, 2009:
Not much context There is not much context - it was just the translation of a news headline. The full headline was "El BCE empieza a comprar cédulas y bonos garantizados"
John Rynne Jul 6, 2009:
Could you post the full sentence? for context
alidalc Jul 6, 2009:
Yes Thanks, John. I do know, in principle, which types of bonds the ECB is going to buy. These include bonds backed by mortgage loans and public sector debt. I am just a little confused as to whether "cédulas" here is specifically referring to the mortgage-backed bonds and "garantizados" to other debt-backed bonds. In any case, it was a lightning-fast translation of some news articles. I only had half and hour and no suggestions came in so I did end up using "mortgage and debt-backed bonds". It will be useful to see what people end up suggesting, though.

Proposed translations

5 hrs

gilt-edged security

se requiere del contexto, depende, si gilt-edged security, si son cédulas o bonos, con garantía del estado,
Note from asker:
Sorry but I think this is definitely the wrong answer - gilt-edged securities are almost always issued by the Bank of England and guaranteed by the British government. The ECB plan is to buy covered bonds from all EU countries. My question was on the difference between "cédulas" and "bonos garantizados" in the context of the ECB bond purchasing programme. Thanks anyway.
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Reference comments

42 mins
Reference:

Have you looked at the ECB communiqué for inspiration?

After all, that is what your author is working from.
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