# Spanish — Finance / Banking Sub-Lexicon

> **Scope.** This sub-lexicon covers two closely-related domains in a single per-language file: **Finance & Banking** (primary) and **Trading & Capital Markets**. The two were merged here because their vocabulary overlaps heavily (debt instruments, securities, exchange regulation) and translators typically need both at once. The two cross-language English-reference lexicons remain split: see `references/finance-banking.md` and `references/trading-capital-markets.md` as separate files.


Auto-generated from translation experience. Maps Spanish finance/banking legal terms to
their correct English equivalents.

## Core Finance Document Terms

| Spanish | English |
|---|---|
| contrato de financiación / contrato de crédito | facility agreement |
| financiación / crédito | facility |
| entidad financiadora / banco prestamista | lender |
| acreedor garantizado | secured party |
| prestatario / acreditado | borrower |
| supuesto de ejecución | enforcement event |
| supuesto de incumplimiento / causa de vencimiento anticipado | event of default |
| supuesto de incumplimiento potencial | potential event of default |
| periodo de garantía (contexto de garantías reales) | security period |
| importe máximo garantizado | maximum secured amount |
| objeto de la garantía | subject matter of the security |
| bienes gravados / bienes pignorados | charged assets / lien assets |
| levantamiento / cancelación de la garantía | release of the security |
| inscripción y publicidad | registration and publicity |
| tramo a plazo | term facility |
| línea revolving / crédito rotativo | revolving facility |
| línea de crédito | facility / credit facility |
| tipo de interés | interest rate |
| intereses de demora / intereses moratorios | default interest |
| principal / capital | principal amount |
| cuadro de amortización | repayment schedule |
| ratios financieros / compromisos financieros | financial covenants |
| acuerdo entre acreedores / contrato intercreedor | intercreditor agreement |
| subordinación | subordination |
| compromiso de no gravar / prenda negativa | negative pledge |
| amortización anticipada obligatoria | mandatory prepayment |
| amortización anticipada voluntaria | voluntary prepayment |
| disposición / utilización | utilisation (UK) / utilization (US) |
| condiciones suspensivas | conditions precedent |
| declaraciones y garantías | representations and warranties |
| expositivo | recitals |
| anexos | schedules |

## Security-Specific Terms

| Spanish | English |
|---|---|
| prenda | pledge |
| hipoteca | mortgage |
| cesión de créditos | assignment of receivables |
| cesión de créditos en garantía | assignment of receivables by way of security |
| garantía autónoma / garantía a primer requerimiento | on-demand guarantee |
| fianza / aval | surety / guarantee |
| ejecución de la garantía | enforcement of the security |
| garantía real | security interest / charge |
| gravamen / carga | encumbrance |
| prenda de participaciones sociales | pledge of quotas |
| prenda de acciones | share pledge |
| prenda de cuentas / prenda de saldos en cuenta | account pledge |
| cuenta pignorada / cuenta bloqueada | charged account / pledged account / blocked account |
| derecho de voto | voting rights |
| hipoteca mobiliaria | chattel mortgage |
| anticresis | antichresis |

## Party Roles

| Spanish | English |
|---|---|
| pignorante / constituyente de la garantía | grantor |
| beneficiario de la garantía | secured party (NOT borrower) |
| entidad prestamista / banco financiador | lender |
| agente / agente del crédito | agent |
| agente de garantías | security agent |
| notario | notary |
| garante / fiador / avalista | guarantor |
| deudor cedido | assigned debtor |
| prestatario | borrower |
| prestamista | lender |
| director / organizador / arranger | arranger / mandated lead arranger |

## Section Headings

| Spanish | English |
|---|---|
| CONSTITUCIÓN DE LA PRENDA / HIPOTECA | CREATION OF THE PLEDGE / MORTGAGE |
| OBLIGACIONES / COMPROMISOS | UNDERTAKINGS |
| DISPOSICIONES GENERALES | MISCELLANEOUS |
| LEY APLICABLE Y JURISDICCIÓN | GOVERNING LAW AND JURISDICTION |
| NOTIFICACIONES | NOTICES |
| IMPUESTOS, TASAS Y GASTOS | TAXES, DUTIES AND EXPENSES |
| SUPUESTOS DE EJECUCIÓN | ENFORCEMENT EVENTS |
| AMORTIZACIÓN ANTICIPADA | PREPAYMENT |
| AUTORIZACIÓN | AUTHORISATION / LICENSING |
| REQUERIMIENTOS PRUDENCIALES | PRUDENTIAL REQUIREMENTS |
| GOBIERNO CORPORATIVO | GOVERNANCE |
| CUMPLIMIENTO NORMATIVO | COMPLIANCE |
| PBC/PFT | AML/CTF |
| INFORMACIÓN REGULATORIA / REPORTING | REGULATORY REPORTING |
| SANCIONES | SANCTIONS |
| RESOLUCIÓN | RESOLUTION |

## Legal Formulae

| Spanish | English |
|---|---|
| garantía no exclusiva | non-exclusive security |
| a título universal o particular | whether by way of universal or individual succession |
| sucesores y causahabientes | successors and assigns |
| patrimonio | estate (insolvency) / assets (commercial) |
| modificación de la escritura | amendment of the Deed |

## Notes

- **"Fianza" vs "aval"**: Both are forms of guarantee but differ technically. A "fianza"
  is a civil law surety (accessory to the main obligation). An "aval" is a guarantee
  specific to bills of exchange and promissory notes. Translate both as "guarantee" or
  "surety" with context where needed.
- **"Prenda sin desplazamiento"**: A non-possessory pledge where the grantor retains
  possession of the pledged assets. Governed by special legislation in Spain. Translate
  as "non-possessory pledge" with a note.
- **"Hipoteca mobiliaria"**: A mortgage over movable property (vehicles, machinery,
  intellectual property). Translate as "chattel mortgage".
- **LMA standard**: English finance documents follow Loan Market Association conventions.
  Align terminology with LMA standards where possible.

- **Banco de España**: The Spanish central bank and banking supervisor. Keep the
  abbreviation "BdE" and translate on first mention.
- **"Entidad de crédito"**: The regulated entity category under Spanish and EU law.
  Always translate as "credit institution" in regulatory contexts.
- **SEPBLAC**: The Spanish Financial Intelligence Unit, the equivalent of FinCEN (US)
  or NCA (UK). Keep the abbreviation and translate on first mention.
- **FROB**: The Spanish bank resolution authority. Keep abbreviation and translate.
- **LMA alignment**: For syndicated lending terms, align with Loan Market Association
  (LMA) conventions.

## Core Banking Regulatory Terms

| Spanish | English |
|---|---|
| entidad de crédito | credit institution |
| banco | bank |
| establecimiento financiero de crédito (EFC) | finance company |
| empresa de servicios de inversión (ESI) | investment firm |
| entidad de pago | payment institution |
| entidad de dinero electrónico | electronic money institution |
| autorización / licencia bancaria | banking licence (UK) / banking license (US) |
| pasaporte comunitario | European passport / passporting |
| libre prestación de servicios | freedom to provide services |
| libertad de establecimiento | freedom of establishment |
| sucursal | branch |
| filial | subsidiary |
| oficina de representación | representative office |
| Banco de España (BdE) | Bank of Spain |
| Banco Central Europeo (BCE) | European Central Bank (ECB) |
| Mecanismo Único de Supervisión (MUS) | Single Supervisory Mechanism (SSM) |
| Mecanismo Único de Resolución (MUR) | Single Resolution Mechanism (SRM) |
| CNMV (Comisión Nacional del Mercado de Valores) | Spanish Securities Market Commission (CNMV) |
| DGSFP (Dirección General de Seguros y Fondos de Pensiones) | Directorate General of Insurance and Pension Funds |

## Prudential and Capital Requirements

| Spanish | English |
|---|---|
| fondos propios / recursos propios | own funds / regulatory capital |
| capital ordinario de nivel 1 (CET1) | Common Equity Tier 1 (CET1) |
| capital adicional de nivel 1 (AT1) | Additional Tier 1 (AT1) |
| capital de nivel 2 (T2) | Tier 2 (T2) |
| ratio de solvencia / ratio de capital | capital adequacy ratio / solvency ratio |
| ratio de apalancamiento | leverage ratio |
| requerimientos de capital | capital requirements |
| colchón de conservación de capital | capital conservation buffer |
| colchón anticíclico | countercyclical buffer |
| colchón para entidades de importancia sistémica | systemic importance buffer |
| activos ponderados por riesgo (APR) | risk-weighted assets (RWA) |
| ratio de cobertura de liquidez (LCR) | liquidity coverage ratio (LCR) |
| ratio de financiación estable neta (NSFR) | net stable funding ratio (NSFR) |
| Basilea III / Basilea IV | Basel III / Basel IV |
| CRR / CRD | CRR (Capital Requirements Regulation) / CRD (Capital Requirements Directive) |

## AML/KYC Terms

| Spanish | English |
|---|---|
| prevención del blanqueo de capitales (PBC) | anti-money laundering (AML) |
| prevención de la financiación del terrorismo (PFT) | counter-terrorist financing (CTF) |
| conocimiento del cliente (KYC) | know your customer (KYC) |
| diligencia debida | customer due diligence (CDD) |
| diligencia debida reforzada | enhanced due diligence (EDD) |
| diligencia debida simplificada | simplified due diligence (SDD) |
| comunicación por indicio / declaración de operación sospechosa | suspicious activity report (SAR) / suspicious transaction report (STR) |
| SEPBLAC (Servicio Ejecutivo de la Comisión de Prevención del Blanqueo de Capitales) | SEPBLAC (Spanish Financial Intelligence Unit) |
| persona políticamente expuesta (PEP) | politically exposed person (PEP) |
| titular real / beneficiario efectivo | beneficial owner / ultimate beneficial owner (UBO) |
| congelación de fondos / bloqueo de activos | asset freeze |
| sanciones financieras | financial sanctions |
| embargo | embargo |
| lista de sanciones | sanctions list |
| filtrado / cribado | screening |

## Syndicated Lending Terms

| Spanish | English |
|---|---|
| préstamo sindicado / crédito sindicado | syndicated loan / syndicated facility |
| entidad directora / arranger | arranger / mandated lead arranger (MLA) |
| banco agente / agente del crédito | facility agent |
| sindicato bancario | banking syndicate / lending syndicate |
| participación / compromiso | participation / commitment |
| cesión de participación | transfer of participation / assignment |
| subparticipación | sub-participation |
| decisión mayoritaria | majority lender decision |
| entidades mayoritarias | majority lenders |
| mercado secundario (préstamos) | secondary loan market |

## Resolution and Recovery

| Spanish | English |
|---|---|
| plan de recuperación | recovery plan |
| plan de resolución | resolution plan |
| recapitalización interna / bail-in | bail-in |
| rescate / bail-out | bail-out |
| MREL | MREL (minimum requirement for own funds and eligible liabilities) |
| TLAC | TLAC (total loss-absorbing capacity) |
| Fondo Único de Resolución (FUR) | Single Resolution Fund (SRF) |
| Fondo de Garantía de Depósitos (FGD) | Deposit Guarantee Fund |
| FROB (Fondo de Reestructuración Ordenada Bancaria) | FROB (Fund for Orderly Bank Restructuring) |

## Additional Lawlinguists-validated Spanish Finance / Banking Mappings

| Spanish | English |
|---|---|
| Ley del Mercado de Valores (LMV) — Ley 6/2023 | Securities Market Act |
| Banco de España | Bank of Spain |
| SEPBLAC | Spanish Financial Intelligence Unit |
| contrato de préstamo (Art. 1740 CC) | loan agreement / contract of loan |
| contrato de mutuo | loan of money for consumption (Spanish CC form) |
| contrato de crédito | credit agreement (more flexible form — with drawdown flexibility) |
| apertura de crédito | credit facility / opening of credit line |
| póliza de préstamo | private loan deed (intervened by a commercial broker — "corredor de comercio") |
| escritura pública de préstamo | notarial loan deed |
| préstamo hipotecario | mortgage loan |
| préstamo al consumo | consumer loan (Ley 16/2011 on consumer credit) |
| préstamo participativo | participating loan (subordinated with profit-linked interest — RD-Law 7/1996) |
| préstamo sindicado | syndicated loan |
| entidad financiadora / prestamista | lender |
| garante / fiador | guarantor |
| aval bancario | bank guarantee / aval |
| fianza (Art. 1822 CC) | suretyship (accessory guarantee) |
| fianza solidaria | joint-and-several suretyship |
| hipoteca inmobiliaria | real-estate mortgage |
| prenda con desplazamiento | possessory pledge (traditional form) |
| prenda sin desplazamiento | non-possessory pledge (Ley de Hipoteca Mobiliaria y Prenda sin Desplazamiento 1954) |
| anotación preventiva | provisional entry (at the Land Registry — secures priority) |
| ejecución hipotecaria | mortgage foreclosure |
| ejecución directa / ejecución extrajudicial | direct / out-of-court foreclosure |
| subasta | auction |
| prelación de créditos | priority / ranking of claims |
| créditos privilegiados | privileged claims |
| créditos ordinarios | ordinary (unsecured) claims |
| créditos subordinados | subordinated claims |
| aseguramiento (en la emisión) | underwriting (of a securities issue) |
| oferta pública de venta (OPV) | public offering (IPO/SPO) |
| oferta pública de suscripción (OPS) | public subscription offering |
| folleto informativo | prospectus |
| mercado secundario oficial | official secondary market |
| mercado continuo | continuous market (Bolsa de Madrid, Barcelona, Valencia, Bilbao) |
| BME (Bolsas y Mercados Españoles) | Spanish Stock Exchanges operator |
| MAB → BME Growth | BME Growth (SME Growth Market) |
| Iberclear | Spanish central securities depository |
| cédulas hipotecarias | mortgage covered bonds (Spanish Pfandbriefe — RD 716/2009) |
| bonos de titulización | securitisation bonds |
| fondo de titulización | securitisation fund |
| SOCIMI | Spanish REIT (Sociedad Cotizada Anónima de Inversión en el Mercado Inmobiliario) |

---

## Trading & Capital Markets — Spanish

Auto-generated from translation experience. Maps Spanish trading and capital markets legal
terms to their correct English equivalents.

## Core Trading and Derivatives Terms

| Spanish | English |
|---|---|
| contrato marco ISDA | ISDA Master Agreement |
| contrato marco CMOF | CMOF Master Agreement (Spanish derivatives) |
| suplemento / anexo | schedule / supplement |
| confirmación | confirmation |
| operación / transacción | transaction |
| instrumento derivado / producto derivado | derivative / derivative instrument |
| contrato a plazo (OTC) | forward contract |
| contrato de futuros | futures contract |
| opción | option |
| opción de compra | call option |
| opción de venta | put option |
| permuta / swap | swap |
| permuta de tipos de interés | interest rate swap (IRS) |
| permuta de divisas | currency swap / cross-currency swap |
| permuta de incumplimiento crediticio (CDS) | credit default swap (CDS) |
| permuta de rendimiento total | total return swap (TRS) |
| valor nocional / importe nocional | notional amount |
| fecha efectiva / fecha de entrada en vigor | effective date |
| fecha de vencimiento / fecha de resolución | termination date / maturity date |
| fecha de pago | payment date |
| fecha de cálculo | calculation date |
| agente de cálculo | calculation agent |
| tipo fijo | fixed rate |
| tipo variable / tipo flotante | floating rate |
| índice de referencia | benchmark / reference rate |
| EURIBOR | EURIBOR |
| diferencial / margen | spread / margin |

## Credit Support and Collateral

| Spanish | English |
|---|---|
| anexo de respaldo crediticio | credit support annex (CSA) |
| garantía financiera / colateral | credit support / collateral |
| llamada de margen | margin call |
| margen inicial | initial margin |
| margen de variación | variation margin |
| umbral | threshold |
| importe mínimo de transferencia | minimum transfer amount |
| valoración a precios de mercado | mark-to-market valuation |
| exposición | exposure |
| compensación / netting | netting |
| compensación por vencimiento anticipado / close-out netting | close-out netting |
| vencimiento anticipado / resolución anticipada | early termination |
| supuesto de incumplimiento | event of default |
| supuesto de resolución | termination event |
| importe de liquidación / close-out amount | close-out amount |

## Securities and Capital Markets

| Spanish | English |
|---|---|
| valores / valores negociables | securities |
| acción | share (UK) / stock (US) |
| obligación / bono | bond |
| instrumento de deuda / valor de renta fija | debt instrument / debt security |
| letra del Tesoro | treasury bill |
| deuda pública / bonos del Estado | government bond |
| obligación convertible | convertible bond |
| bono de alto rendimiento | high-yield bond |
| emisión | issuance / offering |
| oferta pública | public offering |
| colocación privada | private placement |
| folleto informativo / prospecto | prospectus |
| nota informativa / memorando de oferta | offering memorandum / information memorandum |
| mercado regulado | regulated market |
| sistema multilateral de negociación (SMN) | multilateral trading facility (MTF) |
| cámara de compensación / entidad de contrapartida central (ECC) | clearing house / central counterparty (CCP) |
| depositario central de valores | central securities depository (CSD) |
| creador de mercado | market maker |
| libro de órdenes | order book |
| liquidación y compensación | settlement and delivery |

## Regulatory Terms

| Spanish | English |
|---|---|
| EMIR / Reglamento (UE) nº 648/2012 | EMIR (European Market Infrastructure Regulation) |
| MiFID II / Directiva 2014/65/UE | MiFID II (Markets in Financial Instruments Directive) |
| MiFIR / Reglamento (UE) nº 600/2014 | MiFIR (Markets in Financial Instruments Regulation) |
| Reglamento sobre índices de referencia (BMR) | Benchmarks Regulation (BMR) |
| SFTR | SFTR (Securities Financing Transactions Regulation) |
| Comisión Nacional del Mercado de Valores (CNMV) | Spanish Securities Market Commission (CNMV) |
| abuso de mercado | market abuse |
| información privilegiada / uso de información privilegiada | insider dealing (UK) / insider trading (US) |
| manipulación de mercado | market manipulation |
| obligación de comunicación / reporting | reporting obligation |
| compensación centralizada | central clearing |
| entidad de contrapartida central (ECC) | central counterparty (CCP) |

## Section Headings

| Spanish | English |
|---|---|
| DEFINICIONES | DEFINITIONS |
| OPERACIONES | TRANSACTIONS |
| PAGOS Y ENTREGAS | PAYMENTS AND DELIVERIES |
| SUPUESTOS DE INCUMPLIMIENTO | EVENTS OF DEFAULT |
| SUPUESTOS DE RESOLUCIÓN | TERMINATION EVENTS |
| RESOLUCIÓN ANTICIPADA | EARLY TERMINATION |
| COMPENSACIÓN | NETTING |
| GARANTÍAS FINANCIERAS | CREDIT SUPPORT |
| DECLARACIONES | REPRESENTATIONS |
| DISPOSICIONES DIVERSAS | MISCELLANEOUS |

## Notes

- **CMOF**: The Contrato Marco de Operaciones Financieras, published by the AEB
  (Asociación Española de Banca), is the Spanish master agreement for derivatives.
  Used alongside or instead of ISDA in Spanish domestic transactions.
- **"Compensación por vencimiento anticipado"**: The Spanish close-out netting concept,
  protected under the Ley del Mercado de Valores. Translate as "close-out netting".
- **CNMV**: The Comisión Nacional del Mercado de Valores is the Spanish securities
  regulator. Keep the abbreviation "CNMV" and translate on first mention.
