Glossary entry (derived from question below)
French term or phrase:
resserrement du volume de crédit distribué
English translation:
tightening of the volume of credit granted
Added to glossary by
Daniel Weston
Feb 7, 2012 01:16
12 yrs ago
French term
United States
Communication: one link at a time
Native in: English (Variant: US) 
Works in: French to English, English
resserrement du volume de crédit distribué
French to English
Bus/Financial
Business/Commerce (general)
I'm not quite sure how to render this term in English. I've read and heard about "squeezing of credit" or "tighening of credit" but this seems to be saying "tightening of the volume of distributed credit". Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?
Here is the complete sentence:
"Les taux d’intérêts sont cependant restés à un faible niveau même si l’on peut craindre un **resserrement du volume de crédit distribué** et une hausse de taux espérée modérée en 2012"
Here is the complete sentence:
"Les taux d’intérêts sont cependant restés à un faible niveau même si l’on peut craindre un **resserrement du volume de crédit distribué** et une hausse de taux espérée modérée en 2012"
Proposed translations
(English)
| 3 +3 | tightening of the volume of credit granted |
cc in nyc
|
| 4 +1 | decline/cutback in lending |
rkillings
|
| 3 | tightening on amount of credit extended |
Just Opera
|
Proposed translations
+3
1 hr
Selected
tightening of the volume of credit granted
IMO
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Note added at 1 hr (2012-02-07 02:48:40 GMT)
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Or "reduction of the volume of credit granted"
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Note added at 2 hrs (2012-02-07 03:22:26 GMT)
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Perhaps the author wants to distinguish between credit that is theoretically available and the actual amount of credit granted by lending institutions. ;-)
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Note added at 3 hrs (2012-02-07 04:50:00 GMT)
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Some references for the tightening of credit:
In times when economic downturns result in a tightening of the overall volume of credit available, SMEs will face severe financing problems that increase the default risk associated with these companies.
http://goliath.ecnext.com/coms2/gi_0198-396925/Credit-risk-a...
The review is mainly based on responses to a tightening of the volume of central bank credit.
http://www.google.com/url?sa=t&rct=j&q="tightening of * volu...
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Note added at 3 hrs (2012-02-07 04:53:40 GMT)
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More on tightening:
resserrement
2. [limitation] tightening
le resserrement du crédit the credit squeeze, the tightening of credit control
http://www.larousse.com/en/dictionaries/french-english/resse...
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Note added at 3 hrs (2012-02-07 05:06:43 GMT)
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Additionally, for reduction:
A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates
http://en.wikipedia.org/wiki/Credit_crunch
BTW, the English "Credit crunch" Wiki toggles with the French "Resserrement du crédit" Wiki: http://fr.wikipedia.org/wiki/Resserrement_du_crédit
================
@ Daniel, regarding your question, "Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?" – It may indeed be important to keep "distribué" in the English text... One might hope that that the rest of the text makes that clear, but if not, my choice would be to include it as "volume of credit granted."
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Note added at 1 hr (2012-02-07 02:48:40 GMT)
--------------------------------------------------
Or "reduction of the volume of credit granted"
--------------------------------------------------
Note added at 2 hrs (2012-02-07 03:22:26 GMT)
--------------------------------------------------
Perhaps the author wants to distinguish between credit that is theoretically available and the actual amount of credit granted by lending institutions. ;-)
--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:50:00 GMT)
--------------------------------------------------
Some references for the tightening of credit:
In times when economic downturns result in a tightening of the overall volume of credit available, SMEs will face severe financing problems that increase the default risk associated with these companies.
http://goliath.ecnext.com/coms2/gi_0198-396925/Credit-risk-a...
The review is mainly based on responses to a tightening of the volume of central bank credit.
http://www.google.com/url?sa=t&rct=j&q="tightening of * volu...
--------------------------------------------------
Note added at 3 hrs (2012-02-07 04:53:40 GMT)
--------------------------------------------------
More on tightening:
resserrement
2. [limitation] tightening
le resserrement du crédit the credit squeeze, the tightening of credit control
http://www.larousse.com/en/dictionaries/french-english/resse...
--------------------------------------------------
Note added at 3 hrs (2012-02-07 05:06:43 GMT)
--------------------------------------------------
Additionally, for reduction:
A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates
http://en.wikipedia.org/wiki/Credit_crunch
BTW, the English "Credit crunch" Wiki toggles with the French "Resserrement du crédit" Wiki: http://fr.wikipedia.org/wiki/Resserrement_du_crédit
================
@ Daniel, regarding your question, "Is this one of those cases where "tightening of credit" would suffice, or is the "volume distributed" part important?" – It may indeed be important to keep "distribué" in the English text... One might hope that that the rest of the text makes that clear, but if not, my choice would be to include it as "volume of credit granted."
Peer comment(s):
| agree |
Yolanda Broad
: I like "tightening."
58 mins
|
|
Thank you.
|
|
| agree |
B D Finch
6 hrs
|
|
Thank you.
|
|
| agree |
Emiliano Pantoja
2 days 5 hrs
|
|
Thank you.
|
4 KudoZ points awarded for this answer.
Comment: "Thank you. It was a tough decision because the other answer is also viable. In the end, this one fit the context best."
15 hrs
tightening on amount of credit extended
(by the banks)
or squeeze or cutback
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Note added at 15 hrs (2012-02-07 16:59:03 GMT)
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extended meaning make (a resource) available to someone
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Note added at 15 hrs (2012-02-07 17:11:40 GMT)
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http://www.creditorweb.com/definition/line-of-credit.html
"A line of credit is a pre-established amount of credit extended to a borrower by a lender that the borrower can draw against as needed"
http://www.investopedia.com/terms/c/credit-exposure.asp#axzz...
Definition of 'Credit Exposure'
The total amount of credit extended to a borrower by a lender.
or squeeze or cutback
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Note added at 15 hrs (2012-02-07 16:59:03 GMT)
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extended meaning make (a resource) available to someone
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Note added at 15 hrs (2012-02-07 17:11:40 GMT)
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http://www.creditorweb.com/definition/line-of-credit.html
"A line of credit is a pre-established amount of credit extended to a borrower by a lender that the borrower can draw against as needed"
http://www.investopedia.com/terms/c/credit-exposure.asp#axzz...
Definition of 'Credit Exposure'
The total amount of credit extended to a borrower by a lender.
+1
3 hrs
decline/cutback in lending
'Tightening', when it isn't associated with a spread, usually means tightening of loan standards. That may well be what is expected to happen, but the French text talks only about the quantity of credit actually supplied. Stick to what it says.
Use 'decline' to retain the impersonality of "reserrement", or use 'cutback' to imply a degree of agency related to interest rates.
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Note added at 8 hrs (2012-02-07 09:22:41 GMT)
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See here for the ECB's latest "Bank lending survey":
http://www.ecb.europa.eu/stats/pdf/blssurvey_201201.pdf
The ECB's working language is English, so no official FR translation. But here is how an earlier release was reported on a French bank news website:
http://www.news-banques.com/enquete-sur-la-distribution-du-c...
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Note added at 19 hrs (2012-02-07 20:36:42 GMT)
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'Contraction' is another impersonal word that would fit here. Save 'tightening' for intentional action by stern policymakers and villainous banks. Save it for a time when central bank lending to the banks is not the opposite of tight.
Use 'decline' to retain the impersonality of "reserrement", or use 'cutback' to imply a degree of agency related to interest rates.
--------------------------------------------------
Note added at 8 hrs (2012-02-07 09:22:41 GMT)
--------------------------------------------------
See here for the ECB's latest "Bank lending survey":
http://www.ecb.europa.eu/stats/pdf/blssurvey_201201.pdf
The ECB's working language is English, so no official FR translation. But here is how an earlier release was reported on a French bank news website:
http://www.news-banques.com/enquete-sur-la-distribution-du-c...
--------------------------------------------------
Note added at 19 hrs (2012-02-07 20:36:42 GMT)
--------------------------------------------------
'Contraction' is another impersonal word that would fit here. Save 'tightening' for intentional action by stern policymakers and villainous banks. Save it for a time when central bank lending to the banks is not the opposite of tight.
Peer comment(s):
| agree |
Clair Pickworth
9 hrs
|
| neutral |
cc in nyc
: ECB reference uses "decline" re: loan demand, not loans granted ;-)
15 hrs
|
|
When the ECB says that, it's talking about a leftward shift in the demand curve. When the ECB "tightens", it's aiming for a leftward shift in the loan supply curve.
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Discussion
BTW, "extended credit" may also mean Fed credit over 30 days. See: http://www.answers.com/topic/extended-credit