Glossary entry (derived from question below)
Portuguese term or phrase:
conta corrente de depósito
English translation:
current deposit account
Added to glossary by
lexical
Sep 27, 2011 19:32
12 yrs ago
6 viewers *
Portuguese term
conta corrente de depósito
Portuguese to English
Bus/Financial
Finance (general)
Brazilian bank accounts
Can somebody who is knowledgeable about Brazilian banking please explain to me what type of account this is, and perhaps suggest a translation? Is this a recognised type of bank account in Brazil, and how does it differ (if at all) from a normal current account?
The context is a loan agreement in which there is a loan account ("conta contratual") and a "conta corrente de depósito". As the debtor requires access to the credit line, transfers are made from the "conta contratual" to the "conta corrente de depósito". Nowhere in the text is the "conta corrente de depósito" defined.
My doubt is whether the term refers to a standard type of bank account in Brazil, or whether it simply means "the current account into which deposits/transfers are made".
The context is a loan agreement in which there is a loan account ("conta contratual") and a "conta corrente de depósito". As the debtor requires access to the credit line, transfers are made from the "conta contratual" to the "conta corrente de depósito". Nowhere in the text is the "conta corrente de depósito" defined.
My doubt is whether the term refers to a standard type of bank account in Brazil, or whether it simply means "the current account into which deposits/transfers are made".
Proposed translations
(English)
4 +2 | current deposit account | Martin Riordan |
Proposed translations
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Selected
current deposit account
This special kind of account was created by Law no. 10.892 of 13 July 2004, ammending law no. 9311 of 24 October 1996.
It appears to be a special account in which to deposit funds for fixed and variable income investments.
"VII - nos lançamentos a débito em conta corrente de depósito para investimento, aberta e utilizada exclusivamente para realização de aplicações financeiras de renda fixa e de renda variável, de qualquer natureza, inclusive em contas de depósito de poupança. "
It appears to be a special account in which to deposit funds for fixed and variable income investments.
"VII - nos lançamentos a débito em conta corrente de depósito para investimento, aberta e utilizada exclusivamente para realização de aplicações financeiras de renda fixa e de renda variável, de qualquer natureza, inclusive em contas de depósito de poupança. "
Reference:
Note from asker:
Martin, Your Brazilian legislation reference was most helpful. My text does not seem to be about investment, merely a straightforward business loan. Neverthless, you have answered my main doubt- whether this is a recognised type of bank account in Brazil. Maybe these current deposit accounts have more than one use. |
4 KudoZ points awarded for this answer.
Comment: "Many thanks, Martin."
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