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Glossary entry

French term or phrase:

jambe prêteuse/jambe emprunteuse

English translation:

paying leg/receiving leg

Added to glossary by Raymonde Gagnier
Jan 10, 2007 08:29
17 yrs ago
4 viewers *
French term

jambe prêteuse/jambe emprunteuse

French to English Bus/Financial Finance (general) question of style!
To do with swaps, and specifically in this case a swapped bond (issued at 9%, brought to 4.5% by a swap).
As far as I know the relevant terms are "paying leg" and "receiving leg" BUT I am unsure which is which, and can't find any clear indication either way. Is there anyone out there who can put me straight?
Thanks.
Proposed translations (English)
5 +5 paying leg/receiving leg
4 lending arm / borrowing arm

Discussion

Buzzy (asker) Jan 11, 2007:
One day later - still not quite sure, after finding this (www.mathworks.com/access/helpdesk/help/toolbox/finderiv/swa... ): "Price an interest-rate swap with a fixed receiving leg and a floating paying leg" showing that "fixed rate doesn't necessarily go with "paying leg"...
B D Finch Jan 10, 2007:
This is costing an arm and a leg! If it is about the procedure or setup then it's a **leg ** - if it is about the department/unit/section of the company involved, then it's an **arm**.
Raymonde Gagnier Jan 10, 2007:
This might help: "Paying Leg. Fix Interest Rate. Receiving Leg. Floating Interest Rate."

Proposed translations

+5
16 mins
Selected

paying leg/receiving leg

"ces derniers payeront un intérêt à taux fixe à l’émetteur (jambe prêteuse)"
cerefia.univ-rennes1.fr/cerefia/Dossiers/Marc/PdfGoncalvesLouarn/SECTION%203.pdf

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Note added at 19 mins (2007-01-10 08:48:44 GMT)
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fixed rate=paying leg/jambe prêteuse
www.vwfsag.com/cda/global/tpl/document/0,,200013904-1-10000...


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Note added at 1 hr (2007-01-10 09:56:22 GMT)
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Try this one:
www.efrag.org/doc/2338_4June04EFRAGdraftEndorsement_IAS39.d...
Note from asker:
Your reference link doesn't work at my end, is there a bit missing at the end? Could you try reposting please?
Peer comment(s):
agree Jonathan MacKerron : plausible based on the number of googles it gets
23 mins
Thank you!
agree cjohnstone
51 mins
Thanks Catherine!
agree Laurel Clausen
1 hr
Thank you!
agree Vicky Papaprodromou
1 hr
Thanks!
agree Martine Brault
5 hrs
Thanks!
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks for taking the time for this, although we still don't seem to have found any authoritative evidence either way (shame I couldn't open the first link). "
13 mins

lending arm / borrowing arm

I presume this refers to departments of a company that deal with lending / borrowing.
Somehow, "arm" sounds better in English here than "leg". Don't know why ...
Peer comment(s):
neutral Laurel Clausen : It looks like the "jambes" in question are the actions of paying/receiving (like legs of a flight itinerary, if that makes sense). Otherwise, for departments/subsidiaries, I'd agree that an "arm" would be appropriate.
1 hr
Something went wrong...
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