Glossary entry (derived from question below)
French term or phrase:
Frais de Conservation
English translation:
Holding Fee
Added to glossary by
Duncan Moncrieff
Jul 15, 2014 13:42
9 yrs ago
4 viewers *
French term
Canada
PluggedinTranslator
Native in: English (Variants: Canadian, US)
Works in: French to English, Portuguese to English
Frais de Conservation
French to English
Bus/Financial
Finance (general)
From a securities account statement.
Under the category "Frais de Conservation", we also have:
"Sur les lignes valeurs françaises et assimilées" , "sur la valorisation" and "réduction accordée"
I'm not sure what these fees refer to - I've found both "holding fees" and "sue and labor charges" in English, but not sure which, if either, are correct.
Under the category "Frais de Conservation", we also have:
"Sur les lignes valeurs françaises et assimilées" , "sur la valorisation" and "réduction accordée"
I'm not sure what these fees refer to - I've found both "holding fees" and "sue and labor charges" in English, but not sure which, if either, are correct.
Proposed translations
(English)
| 5 +1 | Holding Fee |
Duncan Moncrieff
|
| 4 | custodial cost(s) |
rkillings
|
Change log
Jul 15, 2014 16:48: writeaway changed "Field (specific)" from "Law: Taxation & Customs" to "Finance (general)"
Jul 23, 2014 08:25: Duncan Moncrieff Created KOG entry
Proposed translations
+1
16 mins
Selected
Holding Fee
Les frais de conservation peuvent correspondre aux frais retenus par des intermédiaires boursiers qui, après dépôt de titres par leurs clients, en assurent la conservation.
these are equivalent to the "droit de garde" more commonly used in France (e.g. http://www.lesechos.fr/finance-marches/vernimmen/definition_... ).
the english term would be "holding fee", however it is not something that is generally charged for in the anglo-saxon world.
See also:
http://www.sec.gov/investor/pubs/holdsec.htm
http://usatoday30.usatoday.com/money/perfi/columnist/krantz/...
these are equivalent to the "droit de garde" more commonly used in France (e.g. http://www.lesechos.fr/finance-marches/vernimmen/definition_... ).
the english term would be "holding fee", however it is not something that is generally charged for in the anglo-saxon world.
See also:
http://www.sec.gov/investor/pubs/holdsec.htm
http://usatoday30.usatoday.com/money/perfi/columnist/krantz/...
4 KudoZ points awarded for this answer.
Comment: "Thanks!"
1 day 11 hrs
custodial cost(s)
conservation de titres = custody of securities
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Note added at 1 day11 hrs (2014-07-17 01:17:53 GMT)
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Or custodial fees, in this case, since a breakdown is given and a reduction is credited.
Securities custody used to involve certificates and vaults. Today it is purely administrative -- all about maintaining book entries, since securities have no material existence.
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Note added at 5 days (2014-07-21 05:06:48 GMT) Post-grading
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If the asked term were 'frais de détention', then the English term could indeed be "holding fee". But 'frais de conservation' conveys more information than that. It specifies *how and why* the securities are being held. After all, the holder of the account on whose statement this term appears on is already holding securities as the beneficial owner and shareholder of record. The financial intermediary keeping the account is a fiduciary, holding those securities *in custody*, and behind it is an ultimate custodian, the central securities depository (such as DTCC, Euroclear or Clearstream), better known for its clearing and settlement functions but also providing custody or "safekeeping" as it is also called.
Holding securities in custody is not costless, and this is absolutely something that IS "generally charged for in the anglo-saxon world". All investment funds incur custodial costs and recover them through management or other fees charged to the investor, even if this component is not specifically itemised. See http://www.sec.gov/answers/mffees.htm on mutual fund fees:
"Other Expenses
Included in this category are expenses [such as] custodial expenses; legal expenses; accounting expenses; transfer agent expenses; and other administrative expenses."
In the U.S., essentially every one of the millions of tax-favoured individual retirement accounts (IRAs) involves a financial institution serving as IRA custodian and charging IRA custodial fees, which can be tax-deductible if structured properly. See http://finance.zacks.com/ira-custodial-fees-3532.html
--------------------------------------------------
Note added at 1 day11 hrs (2014-07-17 01:17:53 GMT)
--------------------------------------------------
Or custodial fees, in this case, since a breakdown is given and a reduction is credited.
Securities custody used to involve certificates and vaults. Today it is purely administrative -- all about maintaining book entries, since securities have no material existence.
--------------------------------------------------
Note added at 5 days (2014-07-21 05:06:48 GMT) Post-grading
--------------------------------------------------
If the asked term were 'frais de détention', then the English term could indeed be "holding fee". But 'frais de conservation' conveys more information than that. It specifies *how and why* the securities are being held. After all, the holder of the account on whose statement this term appears on is already holding securities as the beneficial owner and shareholder of record. The financial intermediary keeping the account is a fiduciary, holding those securities *in custody*, and behind it is an ultimate custodian, the central securities depository (such as DTCC, Euroclear or Clearstream), better known for its clearing and settlement functions but also providing custody or "safekeeping" as it is also called.
Holding securities in custody is not costless, and this is absolutely something that IS "generally charged for in the anglo-saxon world". All investment funds incur custodial costs and recover them through management or other fees charged to the investor, even if this component is not specifically itemised. See http://www.sec.gov/answers/mffees.htm on mutual fund fees:
"Other Expenses
Included in this category are expenses [such as] custodial expenses; legal expenses; accounting expenses; transfer agent expenses; and other administrative expenses."
In the U.S., essentially every one of the millions of tax-favoured individual retirement accounts (IRAs) involves a financial institution serving as IRA custodian and charging IRA custodial fees, which can be tax-deductible if structured properly. See http://finance.zacks.com/ira-custodial-fees-3532.html
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