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Title
Author
Patrick Daley
pdaley2
667818754
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Content
1. Introduction.2
2. Stylistic Features.3
3. Audience..5
4. Terminology and Research..8
5. Term Base9
6. Translation.14
7. Challenges.21
8. Takeaways.22
9. Bibliography..23
10.
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
1. Introduction
For my capstone project, I have chosen to translate the Economic and Financial Report section
of the Santander Group Annual report from 2013. I have chosen this document because I am
pursuing a business minor here at the University of Illinois, and feel that this could be a good
source of leverage for landing a potential career in the future. I have also used Santander
Group while I studied abroad in Granada, Spain, as a secondary bank to access money easily.
Here I will discuss: stylistic features of the source text along with all of my other corpus and
parallel texts, the target audience, terminology and research, challenges, and takeaways from
the process of a translation project.
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
for Headings, Access, Typography, and Space. Since these reports are mostly distributed in
electronic form through the company website, they are for the most part easy to navigate with
consistent type fonts. All of the reports also have many charts and graphs accompanied by
what the chart or graph may mean and how to interpret the data presented. However, this type
of document also lends itself to the IMRAD for the discussion portion. As I have mentioned,
after each chart or graph there is an analysis (discussion) of each chart and how to interpret it.
What strikes me as important in the corpus of materials that I have collected is that the charts
and graphs and other graphics are working in conjunction with the text presented in order to
make the information understandable. That being said, I think that using SDL Trados to
translate the document will facilitate the translation of these charts and graphs by keeping the
formatting and referencing the same as in the source text. The same can be said for the
bolding, coloring, and positioning of all of the text in order to conform to the HATS guidelines
that the source text follows.
Another part of my corpus that strikes me as important is the style of the writing. As I have
discussed before, the Spanish texts are tending to be about twice as long as the English
translation of that text. For example, the Banco de Espaa report in Spanish is 258 pages, and
in English it is only 130 pages. This simply comes down to the manner of writing in Spanish
as opposed to the manner of writing in English and can be easily managed throughout the
translation process.
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
3. Audience
The main audience for the Santander Annual Report is all of the stakeholders with respect to
the Santander Group. As I have learned in a management class that I am taking this year is that
stakeholders are different from shareholders. Granted, shareholders are stakeholders, however
stakeholders include anyone affected by the company such as suppliers, distributors, and
customers, who may not necessarily be shareholders. The annual report also goes to every
employee of the company so that the company can be salient with their employees and so they
know the condition of the company.
The specific section that I chose, the financial and economic report, is probably intended for
people who do business with the bank internationally because it addresses most of the major
world economies. It does however also address the domestic financial and economic situation
of Spain, so it is also intended for anyone concerned with the economic and financial situation
in Spain, which recently has not been a healthy state. This could be geared toward financial
analysts or financial planners either domestically or internationally.
Employees of the bank also are an audience for the annual report, since they work for the
institution, but may not know the overall condition of the company because they are focused
in a certain department. For example, the person I chose to review and revise my translation
has been working in the HR department for a number of years. He has been very high up in
the HR department for US Bank and PNC and has had many annual reports come across his
desk over the years. Surely, through his years of exposure to reports of this nature, he has
picked up on some norms and conventions of reports that can help me greatly.
Another potential audience could be potential investors in the banks since, in the report; there
is a forecast and plan for the next fiscal year. When the bank divulges its plan for the
following year, it becomes a more attractive investment opportunity. The plan needs to be very
detailed with reachable goals so that the bank can bring in more investments to expand its
operations.
5
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
It also can be geared toward the SEC to ensure that the company is following the proper
regulations and not conducting business illegally. Although banks have to file a different
report for the SEC (that only includes the data), the bank also includes this data with plans and
explanations. The SEC probably pays a bit more attention to detail than most people, and also
ensures that the data is correctly presented and not deceiving. With respect to how the report is
geared toward its customers, Santander would like to explain the condition of the bank
financially, and assure them that their money is safe and secure. This provides a clear
statement of the condition of the bank, even despite the economic downturn recently.
The most important factor to consider when identifying the audience is what type of culture is
targeted. Having taken a course in International Business, I can state that business varies
culture to culture based on the values of the society. A North American business document
would be very different from an East Asian business document. In North America, the society
tends to be more individualistic where on the other hand the society structure in East Asia is
more communal and team driven. This would pose a large problem to a translator if the correct
target audience was not identified. The same could be said for the difference in conventions
of how to address and sign off of a document. There are much different conventions when
greeting or saluting on a business document depending on what region (culture) of the world
you are in. For example in North America, it is preferred to get right to the point of the subject
on which you are writing, but in Europe, because of language and customs, it may be more
acceptable to ease into the topic rather than dive straight in. Another convention that is
followed by North Americans, but not necessarily Europeans, in my case Spaniards, is the use
of active and passive voice. Americans use both sets of voices about equally, however it is not
very common in Spanish to use the passive voice due to its unnatural sound when
communicating.
All in all there is a wide variety of audiences for a bank the size of Santander Group. Since the
bank is one of the largest in Spain, it reaches a wide variety of audiences. Also, one final
6
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
audience of the Santander report could be the Spanish national government. Since the
government in Spain is organized in a different way than the US government, they may have
different regulations and banking customs than the US. For example, the tax rate is much
higher in Spain, but those taxes pay for a lot of healthcare and education, two industries that
are not privatized like they are in the United States.
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
After deciding that all of these terms were appropriate, I then used the software SDL
MultiTerm to organize the terms into an organized term base as pictured below.
As far as research to find suitable definitions, for the most part I used a book by Karin Kiser
called Diccionario Bilinge de Negocios which is translated as Bilingual Business Dictionary.
This book is a bilingual dictionary that contained many of the terms that I chose to include in
my term base. If a particular term was not in this book, I used many other websites such as
WordReference, Investopedia, European Central Bank, European Union, and
Businessdictionary.com. All of these resources helped me throughout the process in order to
find appropriate definitions for all of the terms.
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
5. Term Base
A
allowance
Part of Speech: Noun Definition: Provision or assignation of resources with a particular objective. Definition
Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn
Financial Pub., 1999. Print.
Spanish dotacin Part of Speech: Noun Gender: Feminine Definition: Provisin o asignacin de recursos con un
determinado fin. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business
Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
B
basis point (b.p.)
Part of Speech: Noun Definition: Smallest measure of quoting the yield on a bond, note, or other debt instrument.
Definition Source: "What Is Basis Point? Definition and Meaning." BusinessDictionary.com. Web Finance Inc., 2015.
Web. 27 Apr. 2015.
Spanish punto bsico (p.b.) Part of Speech: Noun Gender: Masculine Definition: Una medicin de los cambios o
diferencias de tipos de inters. Definition Source: "PUNTO BSICO." Enciclopedia De Economa. Enciclopedia De
Economa, 2009. Web. 27 Apr. 2015.
C
capital
Part of Speech: Noun Definition: A type of good that can be consumed now, but if consumption is deferred an
increased supply of consumable goods is likely to be available later. Definition Source: "Capital (economics)."
Wikipedia. Wikimedia Foundation, n.d. Web. 07 Apr. 2015.
Spanish capital Part of Speech: Noun Gender: Masculine Definition: Es uno de los factores de la produccin y est
presentado por "el conjunto de bienes" necesarios "para producir riqueza." Definition Source: "Capital Econmico."
Wikipedia, La Enciclopedia Libre. Wikimedia Foundation, 2015. Web. 27 Apr. 2015.
capital stock
Part of Speech: Noun Definition: Company assets provided by shareholders that entitles them to certain rights.
Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL:
Dearborn Financial Pub., 1999. Print.
Spanish capital social Part of Speech: Noun Gender: Masculine Definition: Bienes aportado por los accionistas
para constituir el patrimonio social que les otorgan sus derechos sociales. Definition Source: Kiser, Karin N.
Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999.
Print.
D
depreciation
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Part of Speech: Noun Definition: Acknowledgement of the gradual loss in value of a fixed asset throughout its
physical or economic life by deduction a percentage of its value each financial year. Definition Source: Kiser, Karin
N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999.
Print.
Spanish amortizacin Part of Speech: Noun Gender: Feminine Definition: Reconocimiento de la prdida gradual
de valor de un activo fijo a lo largo de su vida fsica o econmica dando como gasto del ejercicio un porcentaje de su
valor. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary.
Chicago, IL: Dearborn Financial Pub., 1999. Print.
E
eurosystem
Part of Speech: Noun Definition: Comprises the European Central Bank (ECB) and the national central banks
(NCBs) of those countries that have adopted the euro. Definition Source: "Eurosystem." Eurosystem. UNTERM, n.d.
Web. 08 Apr. 2015.
Spanish eurosistema Part of Speech: Noun Gender: Masculine Definition: Est formado por el BCE y los BCN de
los Estados miembros que han adoptado el euro. Definition Source: "BCE, SEBC Y Eurosistema." Banco Central
Europeo. European Central Bank, 2015. Web. 27 Apr. 2015.
F
fiscal year
Part of Speech: Noun Definition: Period for which the Public Administration's revenue and expenses are budged and
taxes accrued. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary.
Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish ejercicio Part of Speech: Noun Gender: Masculine Definition: Periodo de doce meses en el que se realizan,
para efectos contables y econmicos, las actividades de la empresa, se calcula el resultado de operacin y se
devenga el impuesto. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business
Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
G
gross domestic product (GDP)
Part of Speech: Noun Definition: Total value of the goods and services produced in a country within a given period
(normally a year) after deducting that which has been consumed during production. Definition Source: Kiser, Karin
N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999.
Print.
Spanish producto interior bruto (PIB) Part of Speech: Noun Gender: Masculine Definition: Valor total de los
bienes y servicios producidos en un pas en un periodo (normalmente un ano), deduciendo lo consumido en la
produccin, es decir valor total final. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios =
Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
I
inflation
10
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Part of Speech: Noun Definition: General rise in the price index reflected therefore by a drop in the purchasing
power of money. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business
Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish inflacin Part of Speech: Noun Gender: Feminine Definition: Elevacin general del ndice de precios, y
por tanto diminucin del poder adquisitivo del dinero. Definition Source: Kiser, Karin N. Diccionario Bilinge De
Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
insolvency proceedings
Part of Speech: Noun Definition: An assignment for the benefit of creditors that may also include other proceeding
intended to liquidate or rehabilitate the estate of the person involved Definition Source: "Insolvency Proceeding Law
& Legal Definition." Insolvency Proceeding Law & Legal Definition. US Legal Inc, 2015. Web. 07 Apr. 2015.
Spanish procedimiento de insolvencia Part of Speech: Noun Gender: Masculine Definition: Es un
reconocimiento y una proteccin normativa que se le hace al deudor que se ha constituido en mora y ha sufrido un
revs econmico, de poder lograr un acuerdo sobre el plan de pago con respecto a sus acreedores, y de esta manera
impedir que se adelanten procesos ejecutivos en su contra que pongan su patrimonio en mayor detrimento. Definition
Source: "Insolvencia Para Persona Natural No Comerciante." Minjusticia. Ministerio De Justicia Y Del Derecho,
2015. Web. 27 Apr. 2015.
L
liquidity
Part of Speech: Noun Definition: Situation in which excess funds are available in a company or the entire financial
system. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary.
Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish liquidez Part of Speech: Noun Gender: Feminine Definition: Situacin de exceso de tesorera, tanto en una
empresa como en la totalidad del sistema financiero. Definition Source: Kiser, Karin N. Diccionario Bilinge De
Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
M
market
Part of Speech: Noun Definition: Place at which products are offered for sale, normally at regular intervals where
negotiations are regulated often by established custom. Definition Source: Kiser, Karin N. Diccionario Bilinge De
Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish mercado Part of Speech: Noun Gender: Masculine Definition: Lugar en el que se ofrecen productos a la
venta, normalmente con una periodicidad fijada donde existen en l unas reglas, basadas en la costumbre para
regular las negociaciones. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual
Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
P
portfolio
Part of Speech: Noun Definition: A grouping of financial assets such as stocks, bonds and cash equivalents, as well
as their mutual, exchange-traded and closed-fund counterparts.
Definition Source: "Portfolio Definition | Investopedia." Investopedia. Investopedia, 25 Nov. 2003. Web. 07 Apr.
2015.
Spanish cartera Part of Speech: Noun Gender: Feminine Definition: Valores o efectos comerciales de curso legal
que forman parte del activo de un comerciante, un banco o una sociedad. Definition Source: "Cartera." Word
Reference. WordReference.com, 2015. Web. 27 Apr. 2015.
11
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Q
quarter
Part of Speech: Noun Definition: A three-month period on a financial calendar that acts as a basis for the reporting
of earnings and the paying of dividends.
Definition Source: "Quarter (Q1, Q2, Q3, Q4) Definition | Investopedia." Investopedia. Investopedia, 24 Nov. 2003.
Web. 07 Apr. 2015.
Spanish trimestre Part of Speech: Noun Gender: Masculine Definition: Espacio de tres meses. Definition Source:
"Trimestre." Word Reference. WordReference.com, 2015. Web. 27 Apr. 2015.
R
remuneration
Part of Speech: Noun Definition: That which is give or which serves to pay the emolument or salary of an employee.
Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL:
Dearborn Financial Pub., 1999. Print.
Spanish retribucin Part of Speech: Noun Gender: Feminine Definition: Lo que se da o sirve para pagar los
emolumentos o el salario de los trabajadores. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios
= Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
revenue
Part of Speech: Noun Definition: Income of money into a company as a result of the sale of goods or services that are
typical of the normal operations of the company. Definition Source: Kiser, Karin N. Diccionario Bilinge De
Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish ingresos Part of Speech: Noun Gender: Masculine Definition: Entradas de dinero en la empresa,
procedentes de la venta de los bienes o servicios representativos de su operacin normal. Definition Source: Kiser,
Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn Financial Pub.,
1999. Print.
S
sector
Part of Speech: Noun Definition: An area of the economy in which businesses share the same or a related product or
service or an industry or market sharing common characteristics. Definition Source: "Sector Definition ,
Investopedia." Investopedia. Investopedia, 26 Nov. 2003. Web. 07 Apr. 2015.
Spanish sector Part of Speech: Noun Gender: Masculine Definition: Cada una de las distintas actividades
econmicas o productivas. Definition Source: "Sector." Word Reference. WordReference.com, 2015. Web. 27 Apr.
2015.
12
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
solvency
Part of Speech: Noun Definition: Capacity to pay debts upon their expiry that is measured as a ratio between current
assets and liabilities for example. Definition Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual
Business Dictionary. Chicago, IL: Dearborn Financial Pub., 1999. Print.
Spanish solvencia Part of Speech: Noun Gender: Feminine Definition: Capacidad de pagar las deudas a su
vencimiento que se mide por la relacin entre activo y pasivo circulante, por ejemplo con la prueba acida. Definition
Source: Kiser, Karin N. Diccionario Bilinge De Negocios = Bilingual Business Dictionary. Chicago, IL: Dearborn
Financial Pub., 1999. Print.
13
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
6. Translation
To maintain the formatting and overall appearance of my translation, it will begin on the next
page. I decided to translate starting with the table of contents of this section through the final
bullet point of the 2013 Summary section.
14
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
Financial and
Economic
Report
92
92
94
15
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
155
158
16
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
17
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
92
ANNUAL REPORT
2013
Consolidated
Financial
Report
General External Framework
Santander Group has developed its business in an
economic climate of minimal growth with respect
to 2012, with some areas registering declining
activity for the year, but has been improving from
quarter to quarter aided by the cyclical recovery of
developed economies. The year ended with the
eurozone out of the recession since the second
quarter with the United Kingdom and the United
States demonstrating well-established recovery.
The emerging countries, with China at the head,
have maintained a solid growth despite the recent
economic downturn. In this environment, the
principal national banks have insisted that interest
rates remain low for a prolonged period of time,
which is a signal that consumer behavior will be
maintained.
18
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
The economies and financial markets of Latin
America have reflected in their currency
exposure and cash flows of investment, the
change expected from the policy of injection of
liquidity of the Fed, although in a heterogeneous
way between countries. The impact is significant
following the closing of the fiscal year (overall
depreciation of emerging currencies in 2014), has
been very limited in the growth of the region,
which is maintained in line with the previous
fiscal year.
19
ANNUAL REPORT
2013
2013
2012
Year
US Dollar
Pound
Brazilian real
Mexican peso
Chilean peso
Argentinian peso
Polish zloty
93
1,37
9
0,83
4
3,25
8
18,0
73
724,5
798,99
0
4,15
4
Year
1,327
0,849
2,852
16,93
1
656,52
47,220
4,196
1,31
9
0,81
6
2,70
4
17,1
85
631,7
296,48
7
4,07
4
1,284
0,811
2,501
16,89
4
624,46
75,830
4,182
94
ANNUAL REPORT
2013
2013 Summary of
Santander Group
In 2013 where the environment has changed
and become more complex in various markets in
which we operate, Santander has, with a
business model resistant in all of the phases of
the cycle, continued to generate high results
consistently.
ANNUAL
REPORT 2013
95
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
7. Challenges
The main challenge that I faced during this entire process of translation was time
(SSM)
Spanish
Product interior bruto (PIB)
Punto bsico (p.b.)
Mecanismo nico de Supervisin
(MUS)
Single Resolution Mechanism
(SRM)
(MUR)
All of the following terms or words that were included in the original annual report for
Santander Group needed extensive research to find the English speaking equivalent to the
abbreviation or acronym.
24
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
8. Takeaways
The major takeaway that I have from my capstone project this semester is that time
management is the most important part when taking on a translation project. From the outset,
setting and meeting deadlines is one of the most important factors when undertaking a translation
project. Another takeaway I would add is that asking for outside help from a subject specialist is
invaluable in the translation process. Luckily I had the luxury of having my friends dad who
works in the banking industry and sees annual reports come across his desk every year. This
helped immensely with the industry norms how information is presented.
25
Patrick Daley
Capstone Project Spring 2015
Instructor: Elizabeth Lowe McCoy
9. Bibliography
Angeloni,
Society for
EVOLUCIN
Banco
Chicago,
"Mission
Statement of the SSM." Banking Supervision. European Central Bank, 2015. Web.
10 Mar. 2015.
"Welcome
to the Purdue OWL." Purdue OWL: Audience Analysis. Purdue OWL, The Writing
Lab, Purdue University, 2015. Web. 29 Apr. 2015.
"Welcome
to the Purdue OWL." Purdue OWL: HATS: A Design Procedure for Routine
Business Documents. Purdue OWL, The Writing Lab, Purdue University, 2015. Web. 24
Feb.
2015.
Wikipedia.
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