Glossary entry

Italian term or phrase:

Assolvimento in via indiretta

English translation:

indirect fulfilment

Added to glossary by Lara Barnett
Feb 23, 2023 07:25
1 yr ago
17 viewers *
Italian term

Assolvimento in via indiretta

Italian to English Bus/Financial Finance (general) Contract between banks
This is from a contract between two banks, entitled:

ACCORDO PER L'ASSOLVIMENTO IN VIA INDIRETTA DELLA RISERVA OBBLIGATORIA

I can see this is settlement of a reserve fund, but not sure how this term should be phrased.

Proposed translations

+2
58 mins
Selected

indirect fulfilment

Adempimento dell'obbligo di riserva

Le banche possono adempiere gli obblighi di riserva in via indiretta tramite un intermediario soggetto alla riserva obbligatoria in Italia. La richiesta di autorizzazione all'adempimento in via indiretta deve essere presentata alle Filiali competenti della Banca d'Italia (cfr. Circolare n. 314/2021, par. I.6 Riserva indiretta). La richiesta, compilata utilizzando l'Allegato 2 della Circolare 314, deve includere in allegato l'accordo tra le parti per la gestione della riserva in via indiretta e contenere una dichiarazione attestante il rapporto tra le parti.

https://www.bancaditalia.it/compiti/polmon-garanzie/riserva-...

Fulfilment of the minimum reserve requirement

Banks can fulfil their minimum reserve requirement indirectly through an intermediary that is subject to such requirements in Italy. The request for authorization of indirect fulfilment of the requirement must be submitted to the Bank of Italy branches concerned (see Section VI.7.2 of the Guidelines for Operators. Indirect reserve requirement). The request must contain a copy of the agreement drawn up between the parties for managing the minimum reserves indirectly and a declaration certifying their working relationship (see Guidelines for Operators - all 27).

https://www.bancaditalia.it/compiti/polmon-garanzie/riserva-...
Peer comment(s):

agree Andrew Bramhall
1 hr
agree writeaway
6 hrs
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4 KudoZ points awarded for this answer.
1 hr

proxy fulfilment (indirectly via an intermediary)

> of the compulsory reserve requirement, though my first non-banking port of call for a corporate is the opposite, namely a release or wind-up of the reserve.

AmE: fulfillment > 'Competitors get traction in the proxy fulfillment sphere, leaving issuers hopeful for a price drop in proxy distribution.'

Collins Sansoni -> assolvimento : performance, *fulfilment* + assolvere 1. acquit 2. absolve 3. (liberare da un obbligo) release 4. perform; (un debito) settle a debt.

'Banks can fulfil their minimum reserve requirement *indirectly through an intermediary* that is subject to such requirements in Italy. The request for authorization of indirect fulfilment of the requirement must be submitted to the Bank of Italy branches concerned (see Section VI.7.2 of the Guidelines for Operators. Indirect reserve requirement)' https://www.bancaditalia.it/compiti/polmon-garanzie/riserva-...
Example sentence:

Le banche possono adempiere gli obblighi di riserva in via indiretta tramite un intermediario soggetto alla riserva obbligatoria in Italia.

intermediare i flussi finanziari e gestire il collateral per la partecipazione alle operazioni di politica monetaria e per l’assolvimento in via indiretta degli obblighi di riserva presso la Banca Centrale

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1 day 7 hrs

Indirect tax compliance

Indirect tax focuses on advisory and compliance services for all aspects and types of indirect tax. This includes: Value-added tax (VAT), Goods and services tax (GST) and Sales & Use Tax (SUT) Global trade. Excise taxes.
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