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Латыгина Базовый курс економики на англ.doc
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Types of Banks

A bank is an institution that deals in money and provides other financial services. Banks are at the heart of any financial system.

Banking is the business a bank is engaged in.

There exist different types of banks but their names may vary from one country to another.

Central banks such as the National Bank (Ukraine), the Bank of England (UK) or the Federal Reserve System (US) look after the government’s finance and monetary policy, act as bankers for the state and for commercial banks, manage a country's reserves of gold and foreign currencies, and are responsible for issuing banknotes.

Commercial banks deal directly with the public. They offer a wide range of services such as accepting deposits, making loans and managing customers’ accounts. The aim of commercial banks is to earn profit.

Merchant banks don’t deal with the public. They provide services for companies. They specialize in raising capital for industry, arranging flotations, takeovers and mergers, and investment portfolios.

Investment banks are firms that control the issue of new securities (shares and bonds).

Savings banks are financial institutions that specialize in providing services such as savings accounts as opposed to general banking services.

Exercises in Word Study

Ex.1. Form nouns from the following adjectives:

banking, financial, national, governmental, commercial, profitable, industrial, monetary.

Ex.2. Give the English for:

установа, яка має справу з грошима; надавати фінансові послуги; банківська справа; Національний банк України; піклуватися про монетарну політику; відповідати за емісію грошей; комерційний банк; приймати депозити; надавати позику; заробляти прибуток; торговельний банк; придбання контрольного пакета акцій; злиття (підприємств); інвестиційний банк; ощадний банк; ощадний рахунок.

Ex.3. Match words from list A with words from list B that have a similar meaning:

A

B

savings account

make a loan

engage in

exist

vary

look after

public

earn

manage an account

service an account

get money by working

take care of

differ

people

be

be involved in

extend a loan

thrift deposit

Ex.4 Find suitable opposites to the following words and phrases:

definite; to control; to lose profit; commercial banks; withdrawal.

Ex.5. Match the nouns in the left-hand column with the verbs in the right-hand column.

deposit

account

loan

repay

obtain

apply for

back

accept

hold

withdraw

make

close

open

settle

manage

Ex.6. The words in the box frequently occur after “bank”.

Find combinations that mean:

  1. a book that lists all payments into and withdrawals from a customer’s bank account;

  2. the amount of money paid by a customer to the bank for its services;

  3. a person who serves customers, keeps accounts and does other work in a bank;

  4. a sum of money left with a bank for safe keeping or to earn interest;

  5. a cheque that guarantees payment by a bank;

  6. money that has been lent by a bank to a customer for a fixed period;

  7. a person employed by a bank to control a particular branch or department;

  8. (UK) a day, not a Saturday or Sunday, when banks are closed and which is also a general holiday;

  9. an arrangement with a bank that allows the customer to pay in and take out money;

  10. a printed report that shows all the money paid into and out of a customer’s bank account within a certain period and the total amount left in the account;