Glossary entry (derived from question below)
German term or phrase:
Kuponschnippler
English translation:
coupon clipper(s)
Added to glossary by
Martin Hesse
Mar 26, 2003 10:07
21 yrs ago
1 viewer *
German term
Kuponschnippler
German to English
Bus/Financial
Investment / Securities
Effekten
Die Effekten-Enthusiasten, die tatsächlich die Zinskupons ausschneiden. Wat'n dat auf Englisch?
Proposed translations
(English)
3 | coupon clipper | Katy62 |
4 | coupon collectors | Nicole Tata |
2 | stub collectors | Norbert Hermann |
2 | coupon washer | Ralf Lemster |
Change log
May 30, 2013 18:23: Steffen Walter changed "Field (specific)" from "(none)" to "Investment / Securities"
Proposed translations
3 mins
Selected
coupon clipper
try that maybe
3 KudoZ points awarded for this answer.
Comment: "Dat scheint's wohl zu sein. Habe auch eine schöne Referenz gefunden:
(The dated term "coupon clipper" described an independently wealthy person before computerization came to Wall Street. In the old days, a bondholder actually clipped coupons from the edge of the bond to be sent off in exchange for cash.) aus
http://www.pensiondynamics.com/pages/100801.htm
Und das jibbet heute noch?
"
7 mins
stub collectors
Maybe. They come up in reference to shares, etc.
8 mins
coupon collectors
voucher vultures (with a bit of artistic licence!)
hope it helps
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Note added at 2003-03-26 10:27:20 (GMT)
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Having read Ralf\'s answer, maybe my confidence level should have been a bit lower, too ....
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Note added at 2003-03-26 11:32:34 (GMT)
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Having read your additional context, here are some more ideas:
… what Germans would call ‘coupon cutters’
hard-core/die-hard coupon cutters
the coupon-cutting home brigade
Any of those should convey the same image, although I would add that this is a German term and put it in inverted commas.
hope it helps
hope it helps
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Note added at 2003-03-26 10:27:20 (GMT)
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Having read Ralf\'s answer, maybe my confidence level should have been a bit lower, too ....
--------------------------------------------------
Note added at 2003-03-26 11:32:34 (GMT)
--------------------------------------------------
Having read your additional context, here are some more ideas:
… what Germans would call ‘coupon cutters’
hard-core/die-hard coupon cutters
the coupon-cutting home brigade
Any of those should convey the same image, although I would add that this is a German term and put it in inverted commas.
hope it helps
14 mins
coupon washer
Further to my request for more context, there's another meaning of "schnippeln" when referring to interest or dividend coupons.
"Washing a coupon" is a practice designed to avoid tax on interest or dividend income. Shortly before the coupon (dividend) payment date, the security is sold to a tax-exempt entity (such as charities, trusts or similar non-profit organisations), which cashes in the coupon (tax-free, of course) and subsequently re-sells the security to the original owner. The prices for purchase and sale are generally chosen so as to share the benefit between the parties.
This used to be extremely popular in the German market during the early nineties, since tax-exempt entities would not only receive the cash flow free of tax, but (in the case of dividends from German companies) with the corporation tax credit on top. The party was over quickly, when the German tax authorities not only realised what was going on, but started reclaiming the tax credits. Successfully so... <ouch>
But even after that, you could still see the effect in the pricing of equity options before and after dividend dates - the implied share prices clearly reflected the tax credit.
As I said, it really depends on the context here - my confidence ratio reflects my uncertainty about the context, not the terminology (100% certain about that).
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Note added at 2003-03-26 11:52:32 (GMT) Post-grading
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Danke für den kompletten Satz - damit hätte ich mir die Erklärung auch sparen können.... ;-))
Klar gibt\'s sowas auch heute noch - der Vorteil solcher \"Tafelgeschäfte\" ist es doch, dass diese nicht über die Bücher der Bank nachvollziehbar sind...
"Washing a coupon" is a practice designed to avoid tax on interest or dividend income. Shortly before the coupon (dividend) payment date, the security is sold to a tax-exempt entity (such as charities, trusts or similar non-profit organisations), which cashes in the coupon (tax-free, of course) and subsequently re-sells the security to the original owner. The prices for purchase and sale are generally chosen so as to share the benefit between the parties.
This used to be extremely popular in the German market during the early nineties, since tax-exempt entities would not only receive the cash flow free of tax, but (in the case of dividends from German companies) with the corporation tax credit on top. The party was over quickly, when the German tax authorities not only realised what was going on, but started reclaiming the tax credits. Successfully so... <ouch>
But even after that, you could still see the effect in the pricing of equity options before and after dividend dates - the implied share prices clearly reflected the tax credit.
As I said, it really depends on the context here - my confidence ratio reflects my uncertainty about the context, not the terminology (100% certain about that).
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Note added at 2003-03-26 11:52:32 (GMT) Post-grading
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Danke für den kompletten Satz - damit hätte ich mir die Erklärung auch sparen können.... ;-))
Klar gibt\'s sowas auch heute noch - der Vorteil solcher \"Tafelgeschäfte\" ist es doch, dass diese nicht über die Bücher der Bank nachvollziehbar sind...
Discussion
Effekten-Enthusiasten, auch genannt "Kuponschnippler", geben Ihre Anleihepapiere nicht in eine Sammelverwahrung, sondern lassen sich die Effekten aush�ndigen, schneiden die Zinskupons aus und reichen sie zum jeweiligen Zinstermin pers�nlich ein.