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Glossary entry

Spanish term or phrase:

interventores

English translation:

administrators

Added to glossary by David Hasting
Apr 8, 2023 13:04
1 yr ago
31 viewers *
Spanish term

interventores

Spanish to English Bus/Financial Finance (general) Bank intervention
I'm translating a text about the Venezuelan Banco Latino crisis in 1993, when the Central Bank of Venezuela intervened it and appointed "interventores", and I'm not sure if the right translation in this case is inspector, supervisor, auditor, comptroller or another term. Since at first it was not a case of bankruptcy or winding it up, the term "receiver" would not apply.
Thanks in advance
Proposed translations (English)
4 +1 administrators
5 receiver officers
4 bank examiners

Discussion

Francois Boye Apr 14, 2023:
It is not a case of administration, because the decision mentioned in the text was not made by the bank' directors. Instead, it was made by Venezuela's central bank.

Receivership differs from Administration, as the latter works to protect companies from their creditors. Whereas, Receivership is initiated by those creditors or banks that believe the business cannot pay its debts. Unlike in administration, directors cannot place their own company into receivership.
philgoddard Apr 8, 2023:
You're welcome Administrador usually means director.
David Hasting (asker) Apr 8, 2023:
Administrator Phil, oddly I've only found a few Kudoz questions, not 38. Anyway, I hadn't used administrators because the text refers elsewhere to "administradores", but now I believe that is referring to management/managers, and in the UK the term administrator can mean a person appointed (by a court etc) to improve a company's financial situation. So thanks! Wish I could give you the points
philgoddard Apr 8, 2023:
We've had this term 38 times before, many with very similar contexts. It's possible you didn't find the previous questions because you used the plural form.
'Administrators' is one possibility.

Proposed translations

+1
1 day 23 hrs
Selected

administrators

Posted for the sake of the glossary. Troubled banks are often "placed into administration" so the right term in this instance would be "administrators"

UK Unit Of Russia's VTB Bank Put Into Administration

Law360
https://www.law360.com › articles › uk-unit-of-russia-s-...
Dec 9, 2022 — The U.K.-based investment unit of Russian-owned JSC VTB Bank has been placed into administration after authorities in Britain and the U.S. ...

London Scottish Bank placed into administration

Lexology
https://www.lexology.com › library › detail
Dec 1, 2008 — London Scottish Bank placed into administration ... Today, the U.K. Treasury announced that it “has taken decisive action to protect the interests ...

Auden Group Limited enters administration

Financial Conduct Authority
https://www.fca.org.uk › News
Mar 30, 2023 — On 23 March 2023 Auden Group Limited (trading as Auden) was placed into administration. Daniel Conway and Geoffrey Rowley of FRP Advisory were appointed joint administrators.
Peer comment(s):
agree AllegroTrans
16 mins
Thank you!
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks!"
39 mins

bank examiners

A bank examiner is an employee of the government who is responsible for ensuring that banks are following the rules and regulations set forth by the government. They do this by examining the books of the bank and looking for any irregularities. They also interview the bank's employees to get an understanding of the bank's operations. Bank examiners play a vital role in the economy by providing information to the government about the health of the banking industry.
Example sentence:

A bank examiner's primary responsibility is to ensure that banks are following the rules and regulations set forth by the government.

Reference:

https://www.causal.app/finance/bank-examiner-finance-roles-explained-6

Note from asker:
Vinicius, thanks for offering this term, but in my opinion it does not fit this context exactly. Rather than a person who examines the bank to make sure it is following rules and regulations, these people are put in place to oversee day-to-day operations and get the bank running properly again after a major crisis.
Peer comment(s):
neutral patinba : Asker is correct, and so is Phil, who should post "administrator"
23 hrs
Something went wrong...
1 day 57 mins

receiver officers

When a bank is in crisis, its managers are replaced by receiver officers, who are in charge of redressing the bank and selling it if possible or liquidating it if necessary.

https://www.fdic.gov/about/strategic-plans/strategic/receive...

--------------------------------------------------
Note added at 1 day 8 hrs (2023-04-09 21:23:58 GMT)
--------------------------------------------------

Erratum: Receivers instead of receiver officers
Peer comment(s):
neutral AllegroTrans : "Receivers" is a term "receiver officers" is not
3 hrs
Just an oversight!
Something went wrong...
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