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Comprehension

1. Answer the following questions.

1. How can you characterize the UK banking sector?

2. When did the UK banking start functioning?

3. Are there many types of banks in the UK?

4. What services do they provide?

5. What is the main function of the central bank?

6. What bank operates in over 50 countries?

7. The Royal Bank of Scotland Group is one of the major clearing banks in the United Kingdom, isn’t it?

8. What bank prints its own banknotes?

9. HSBC Bank plc has more assets than any other bank, doesn’t it?

10. What is Abbey?

Vocabulary

2. Match the beginning of the sentence with its ending.

1. The company provides retail banking

a) for investment and private banking

2. The Bank of Scotland is

b) in services for companies and corporate customers

3. It is also a major international center

c) a wide range of financial products.

4. The bank looks after

d) accounts to mortgages, loans, investments and insurance

5. This type of banks specializes

e) for consumers and businesses

6. The bank offers its customers

f) the government’s finance and monetary services

7. The first bankers were

g) a commercial and clearing bank based in Edinburgh, Scotland

8. The banking services include

h) goldsmiths

3. Fill in the correct word from the list below.

Brokerage, comprehensive, credit, wealth, significant, consumer, overall, merchant, retail, general

1. …………………. management

2. …………………. banking

3. …………………. services

4. a ……………….. range

5. …………………. finance

6. …………………. cards

7. …………………. stability

8. …………………. public

9. …………………. banks

10. ………………... stocks

4. Translate the words in brackets into English. Use the following words.

Cash, bank account, cheque, loan, current, rate of interest, payments, savings, income, amount, wages

Personal Banking is the most common form of banking in the UK. Employers require that new employees have a (банковский счет) for the payment of (заработная плата), so almost every person in the UK has some form of personal bank account.

Access to convenient electronic services such as debit cards that can be used to make purchases and withdraw (наличность) from automatic teller machines, direct debit services to make automatic (платежи) and the planned introduction of EFTPOS (Electronic Funds Transfer at Point Of Sale) services mean that the use of personal accounts is almost mandatory.

A (текущий) account allows easy and simple access to funds deposited into the account, via over the counter transactions or deposit facilities at ATMs, debit card access, (чековые) books or direct debit authorizations.

Savings accounts are used to set aside some portion of your (доход) as a saving. Savings accounts attract a high (процентная ставка) on the current balance in return for allowing the bank to use this money for loans. Access to the money held in (сберегательные) accounts is restricted.

An overdraft is an agreed permanent (кредит) associated with your current account. This provides an additional source of funds that you can draw on directly for a set interest rate. The overdraft (сумма) is applied directly to your current account and is treated as if it were deposited funds.

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