Codified error and Trennbankensysteme

One of the most surprising phenomena in the world of translation that I encounter with great frequency is the tendency for clearly incorrect translations of certain terms to become accepted and widely used as standard terminology. This phenomenon is certainly attributable in part to native speakers of German translating into English. Yet indolence and timidity of many translators must also play a large role. To provide an example: The accepted translation for “Trennbankensystem” at LEO and in other specialized dictionaries is “separate banking system.” This translation really raises my hackles, as it is completely incorrect. The term “Trennbankensystem” refers to the separation that previously existed in the US between between commercial and investment banks, as per the requirements of Glass-Steagall. The German term thus refers expressly to circumstances in the United States, which should make the identification of a good translation an easy task. The accepted terms in English for this separation are “dual banking system” and “two-tiered banking system”, but not “separate banking system,” which almost seems to refer to some sort of “secondary” or “shadow” banking sector. The term is thus not only incorrect, but highly misleading. Nevertheless, it is found in all online dictionaries that contain a entry for the term, and has been used faithfully by translators in innumerable documents. It really is a sad state of affairs.

This is by no mean an isolated example. Consistent mistranslation – or “codified error,” as I like to call it – is extremely common: In the area of finance, for example, I often see the English term “participations” used as a translation for “Beteiligungen”, which is just about as correct as Arnold Schwarzenegger talking about the “advices” he gives to Franco Columbu. The correct way phrase this, of course, it to speak of an “ownership stake” or “holdings” in a company. “Participation” for describing investment interest can work, but should almost always be kept singular.

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