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Sample translations submitted: 1
English to Spanish: FDIC Insurance and bank enviroment
Source text - English In my experience in the banking industry I've often heard the question, what would happen if there's fraud in my account? And even though, that does depend on the bank you're using it is a fact that almost most banks have a 0% liability policy when it comes to fraudulent transactions. This type of policy greatly helps banks maintain and grow their reputation and in return that creates profits and benefits the bank.
But when looking more in depth to how modern banks work there's something rather interesting. Instead of using safe deposit boxes, where all of your money goes into a vault and waits idly for the owner to use it or pull it out, most modern banks only safe approximately 10% of all deposits in hand as a requirement by the federal government. this kind of banking is known as "Fractional reserve banking" and the main purpose of it is to use the remaining 90% of the funds as loans or any sort of lending product offered by the bank.
That basically means that if for reason all depositors ask to take all of their money out their accounts then most banks will not have sufficient funds to approve all requests and that's when the FDIC steps in. As long as the bank and accounts are protected by the FDIC, then that means that if the bank can't provide or approve the requests of their depositors to provide their money, the FDIC pays up 250,000 to the clients and declared the bank as "failed". In which case the FDIC assumes control of the bank and sells the banks assets to pay the account holders.
Translation - Spanish
En mi experiencia en la industria bancaria, a menudo he escuchado la pregunta, ¿qué pasaría si hay fraude en mi cuenta? Y aunque eso depende del banco que esté utilizando, es un hecho que casi la mayoría de los bancos tienen una política de responsabilidad del 0% cuando se trata de transacciones fraudulentas. Este tipo de política ayuda en gran medida a los bancos a mantener y hacer crecer su reputación y, a cambio, genera ganancias y beneficios para el banco.
Pero cuando se analiza más en profundidad cómo funcionan los bancos modernos, hay algo bastante interesante. En lugar de utilizar cajas de seguridad, donde todo su dinero va a una bóveda y espera ociosamente a que el propietario lo use o lo retire, la mayoría de los bancos modernos solo aseguran aproximadamente el 10% de todos los depósitos disponibles como un requisito del gobierno federal . Este tipo de banca se conoce como "banca de reserva fraccional" y el objetivo principal es utilizar el 90% restante de los fondos como préstamos o cualquier tipo de producto crediticio ofrecido por el banco.
Básicamente, eso significa que si, por alguna razón, todos los depositantes solicitan retirar todo su dinero de sus cuentas, entonces la mayoría de los bancos no tendrán fondos suficientes para aprobar todas las solicitudes y hay es cuando interviene la FDIC. Mientras el banco y las cuentas estén protegidos por FDIC, eso significa que si el banco no puede proporcionar o aprobar las solicitudes de sus depositantes para proporcionar su dinero, la FDIC paga 250,000 a los clientes y declara al banco como "fallido". En cuyo caso, la FDIC asume el control del banco y vende los bienes del banco para pagar a los titulares de la cuenta.
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Translation education
Other - Utica college
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Years of experience: 5. Registered at ProZ.com: Jul 2020.
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Bio
Native Spanish speaker, with fluent English writing skills. Spent 2 years in the banking industry and have a mathematics degree, with some classes in editing and translation. I've had experience as a private tutor for 3 years in both Spanish and English, so you can expect great syntax, deep vocabulary, and perfect translation; keeping the meaning of words and phrases intact throughout my work. Because of the years studying mathematics and my years in the banking industry, you can expect the appropriate translation of financial and mathematical terms. Have also worked under pressure to submit either complaints or finish work in a timely manner; you can expect your work to be completed in a very fast manner or on the deadline that we agree upon.
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