Diskontierung von LZB-90-Tage-Wechseln

English translation: discounting of 90-day LZB (State/ Regional Cental Bank bills

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Diskontierung von LZB-90-Tage-Wechseln
English translation:	discounting of 90-day LZB (State/ Regional Cental Bank bills
Entered by:	David Hollywood

17:35 Oct 7, 2004

German to English translations [PRO]
Bus/Financial - Investment / Securities / Banking/financial services

German term or phrase: Diskontierung von LZB-90-Tage-Wechseln

Hello all!
This is from a bank prospectus, and its not something I've heard of. Then again, I'm not a finance specialist! The most I have been able to determine is that "LZ" is probably "Langzeit"! Can anyone help me out here?

"Des Weiteren empfehlen wir uns auch bei der Gewährung langfristiger Darlehen auf besicherter Basis, für die Diskontierung von LZB-90-Tage-Wechseln, sowie für die Anlage bei Geschäfts- und Spezialbanken."

Many thanks in advance!

Hilary Davies Shelby KudoZ activity Questions: 558 (8 open) (5 without valid answers) (31 closed without grading) Answers: 527 United States
Local time: 01:24

discounting of 90-day State Central Bank bills

Explanation:
All the other lenders sat on their hands until they knew the central bank’s decision
last week. Even though the 90-day bank bills fell below 5.3% after the ...

Landeszentralbank (State Central Bank) in Berlin und Brandenburg, Renewal and New
Building "Landeszentralbank (State Central Bank) Berlin/Brandenburg ...

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Note added at 23 mins (2004-10-07 17:59:13 GMT)
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... on appointing members of the new Bundesbank council and objecting to the demotion
of the nine state central banks--the Landeszentralbanken (LZB)--to mere ...

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Note added at 25 mins (2004-10-07 18:00:20 GMT)
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http://www.findarticles.com/p/articles/mi_m2633/is_3_16/ai_8...

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Note added at 43 mins (2004-10-07 18:18:57 GMT)
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good to stay with LZB as Robert suggests and maybe add (State Central Bank) by way of explanation

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Note added at 22 hrs 34 mins (2004-10-08 16:10:05 GMT)
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or \"Regional Central Bank\" as Terry says

Selected response from:

David Hollywood
Local time: 03:24

Grading comment

thanks to all who helped me with this one - it was much appreciated!
4 KudoZ points were awarded for this answer

Summary of answers provided

discounting of 90-day bills (of exchange) issued by the LZB

Robert Schlarb

discounting of 90-day bills eligible for rediscounting by Deutsche Bundesbank

Ralf Lemster

4 -1

discounting of 90-day State Central Bank bills

David Hollywood

Discussion entries: 2

Answers

29 mins confidence:

discounting of 90-day bills (of exchange) issued by the LZB

Explanation:
LZB=Landeszentralbank
I doubt LZ=Langzeit
There is a separate discount rate for 90-day bills

http://www.iii.co.uk/news/?type=afxnews&articleid=5084605&su...

The S&P/ASX 200 December futures contract was down 3.0 points at 3,676.0, while
the 10-year bond yield was down 0.020 at 5.410 pct and the 90-day bill yield was
up 0.038 at 5.392 pct.

http://www.notarkammer-hamm.de/seiten/fach/kammerreporte/KR_...
Von der LZB rediskontierte Wechsel
Während bei Anwendung des Wechselabkommens die erste Inkassostelle gem. Abschnitt II Nr. 1 zweiter Halbsatz Eigentümerin des Wechsels wird und regelmäßig auch bleibt und die in der Einzugskette nach-geschalteten Institute die erforderlichen Handlungen - d. h. insbesondere die Erhebung des Wechselprotestes - im Namen und in Vollmacht der ersten Inkassostelle vornehmen (Abschnitt II Nr. 2 des Wechselabkommens), werden die vom wechselankaufenden
Kreditinstitut an die Deutsche Bundesbank rediskontierten Wechsel gem. Abschnitt V Nr. 11 AGB-Bundesbank durch Vollindossament an die Bundesbank indossiert, so daß diese Eigentümerin des Wechsels wird. Ein etwaiger Protest kann daher in einem solchen Falle von der Domizilstelle nicht als Vertreterin der ersten Inkassostelle, sondern nur als Vertreterin der Bundesbank vorgenommen werden.

Robert Schlarb
Local time: 08:24
Native speaker of:

English,

German
PRO pts in category: 6

22 mins confidence:

peer agreement (net): -1

discounting of 90-day State Central Bank bills

David Hollywood
Local time: 03:24
Works in field
Native speaker of: English
PRO pts in category: 57

Grading comment

thanks to all who helped me with this one - it was much appreciated!

55 mins confidence:

discounting of 90-day bills eligible for rediscounting by Deutsche Bundesbank

Explanation:
The term 'LZB' means 'Landeszentralbank'. However, as LZBs were abolished in the course of the Bundesbank reform in 2003, the term is outdated and should be replaced by 'Deutsche Bundesbank'. (Structurally, LZBs still exist, but are main branches of Deutsche Bundesbank.).

'Bundesbankfähige Wechsel' refers to bills which meet certain criteria (in particular, regarding the issuer's creditworthiness), and are thus eligible for rediscounting (usually at more favourable rates than for comparable short-term loans in the market).

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Note added at 4 days (2004-10-12 07:22:22 GMT) Post-grading
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Check http://www.bundesbank.de/aufgaben/aufgaben_organisation.en.p... for an explanation of the new structure of Deutsche Bundesbank:

\"The Regional Offices of the Deutsche Bundesbank (formerly known as Land Central Banks) are now responsible for the Bundesbank\'s functions in one or more of Germany\'s federal states.\"

Ralf Lemster
Germany
Local time: 08:24
Specializes in field
Native speaker of: German
PRO pts in category: 475

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Diskontierung von LZB-90-Tage-Wechseln

English translation: discounting of 90-day LZB (State/ Regional Cental Bank bills

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Diskontierung von LZB-90-Tage-Wechseln

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