III. Fill in the blanks with the proper words and phrases from the box.

 

Handle; to exercise; to run the bank; to earn profit; banking business; personal contact.

1. Banks are institutions which... other people’s money both to their advantages and its own profits.

2. Banker is a person conducting a...

3. The aim of commercial banks is...

4. It takes a lot of employees...

5. The work of an economist of the second category gives more...... with customers.

6. The grade of a chief economist is the senior of the... grades.

7. The branch manager is given opportunity... your own judgment in a number of matters.

IV. Ask question to give the following answers:

Q...?

A. Historically, the bank has grown of community needs.

B. Q...?

C. Commercial banks are banks in the classic business of, taking deposits and lending money.

D. Topically, a bank consists of some departments, divisions and branches.

E. Q...?

F. The ordinary shareholders at the Annual General Meeting elect the Board of the bank.

G. Q...?

H. In preparation for the Annual General Meeting, a bank published its Report and Accounts.

I. Q...?

J. The clerical jobs are graded according to the demands and responsibilities of each particular position.

 

V. Translate the following from Ukrainian into English.

 

1 Я цікавлюся банківською справою ще зі школи.

2 Історично банк надає місце для зберігання коштовностей, джерело запозичення грошей з метою особливого використання, а також можливість сплатити борги без перенесення великих сум грошей з місця на місце.

3 Існує багато різних термінів, якими називаються різні банки: центральні банки, комерційні банки, інвестбанки, ощадні, кооперативні, іпотечні.

4 Правління банку опікується загальною політикою банку та основними рішеннями щодо втілення цієї політики в життя.

5 З офіційного звіту банку акціонери можуть довідатись про справи банку: загальний дохід та яка частина доходу розподіляється

6 Найнижчою посадою у банку є посада банківського службовця першого рівня – молодшого економіста.

7 Другим рівнем є посада економіста.

8 Наступний рівень – це посада ведучого економіста

9 Останній рівень – посада головного економіста

10 Головний економіст банку працює у тісному зв’язку з начальником відділу і надає всю інформацію, необхідну для щоденного нагляду за розрахунками та наданням позики.

VI. Make up meaningful phrases of the components from the text:

 

To be interested in banking

To grow out of basic needs

To consists of some departments

To be concerned with the overall policy

To be distributed to the shareholders

To be available for anyone

To be graded according to the dements

 

To be To grow To consist To be concerned To be distributed To be available To be graded

According For Out of To In With Of

Anyone The demands Basic needs The shareholders Banking Some departments The overall policy

TEXT B

Banking System of Ukraine

The National Bank of Ukraine serves as the country's central bank which pursues a uniform state monetary policy to ensure the national currency stability.

Commercial banks are formed as joint-stock companies or as com­panies on an equal footing with both legal and natural persons in­volved

The banks act in accordance with the “Constitution of Ukraine, the Law of Ukraine “On the National Bank of Ukraine,” On Banks and Banking, the Ukrainian legislation on joint-stock companies and other economic entities, as well as with the normative regulations of the National Bank of Ukraine and their Statutes

Starting from January 1, 1998, the banking system of Ukraine has transfered to the International accounting and statistics standards.

Banking system of Ukraine consists of two levels — the National Bank of Ukraine at the higher level and commercial banks at the lower level. The National Bank of Ukraine activity is aimed at form­ing the system of finance and credit of the state and controlling the credit system lower level section activity. Lower level section activity is aimed at available resources mobilization and their employment in crediting and investing subjects of management as well as getting profits and capital accumulation in order to refund economy. At the background of finance and money stabilization the money reform was successfully carried out in 1996 — the own money unit — Ukrainian hrivnya — was put into circulation. Stability of national money laid the foundation of positive changes in economy, having provided the proper financial conditions, stable criteria, which must interest inves tors. Long-term credits of banking system are growing.

 

Task: Summarize the information you have learnt from text B.

TEXT C

Banks and Banking

When it comes to dealing with money, the banks provide a variety of services essential to trade and to the eco­nomy of a country. There are two main types of bank:

1. Central banks

These are the institutions which control the banking of the entire country; they work together with the government to control the country's economy. The central bank of the United Kingdom is the Bank of England, in the USA it is the Federal Reserve Sys­tem, in single-currency Europe the European Cent­ral Bank, etc.

The central bank has a number of different functions:

a) To issue banknotes and coins, the country's cur­rency. These notes and coins are legal tender in the country where they are produced; this means that traders in that country may not refuse them when they are offered as payment.

b) To look after the country's gold reserves.

c) To make sure that the country's currency keeps its value.

d) To act as bankers for the government and the other banks.

e) To keep inflation under control. Inflation hap­pens when there is a lot more money (in the form of banknotes and credit) available than there are goods for sale (in other words, when demand for the goods exceeds supply). When this happens, prices increase sharply and often. To stop it, the central bank needs to take money out of circula­tion, for example by increasing interest rates (this makes borrowing more expensive and means that fewer people will apply for credit), and by in­creasing the amount of money which all banks have to deposit with the central bank.

 

central bank центральний банк

currency валюта

legal tender законний платіжний засіб

inflation інфляція

supply and demand пропозиція та попит

circulation обіг

interest rate процентна ставка

 

2. Commercial banks

These are the public or private banks which people use for their everyday money matters. If you have a bank account for example, it will be at a commercial bank.

There are three basic types of bank account:

• Current account. This type of account is used for everyday transactions such as paying bills, trans­ferring money and drawing cheques. You can have an overdraft on this type of account (that means you can withdraw more money than you have in the ac­count, although you will have to pay interest for this service), but you don't usually receive interest on the money you pay in.

• Deposit account. This type of account may be used for short-term, small savings; the money paid in earns a small amount of interest. It is not possible to draw cheques or have an overdraft on this type of

account, but it is possible to transfer money to it from a current account.

• Investment account. Money paid into this type of account earns more interest, but the customer has to inform the bank in advance when he wants to with­draw his money. If it is a fixed-term account, he may not be able to withdraw the money for a certain period agreed with the bank (for example, five years). This type of account may be used for larger, long-term savings.

 

commercial bank комерційний банк

bank account банківський рахунок

current account поточний рахунок

transaction (банківська операція)

to transfer money переказувати гроші

to draw a cheque виписувати чек

overdraft перевищення кредиту (овердрафт)

to withdraw money знімати гроші з рахунку

deposit account депозитний рахунок

savings заощадження

investment account інвестиційний рахунок

fixed-term account строковий рахунок

Exercise 1. What kind of bank account do you think each of these people might have opened?

1. A twelve-year-old child inherits J10,000, which he won't be able to touch until he's 18.

2. An elderly woman keeps $200 in her handbag "for emer­gencies". She is persuaded to pay it into a bank account for safety.

3. An 18-year-old begins work and needs an account so that his wages can be paid at the end of the month.

4. A couple with young children wins a large amount ofmoney in the lottery.

5. A student needs a bank account for her grant.

6. A teenager wants to save money to buy a motor-bike.

Another function of the commercial banks is to pro­vide credit, in the form of:

• Overdrafts, where the customer can take out more money than he has in his account up to a cer­tain limit agreed with the bank. He has to pay the money back whenever requested by the bank, and he also has to pay a relatively high rate of interest when­ever he is overdrawn. For this reason, an overdraft is not the best option for long-term borrowing.

• A loan is cheaper if a large amount of money has to be borrowed over a longer period. It is usually taken out for one item such as a car or a house, and is repaid in monthly instalments along with a fixed rate of interest. A loan used to buy a house or land is called a mortgage.

• Credit cards such as Visa or American Express are used to buy goods without needing to pay for them immediately. The customer receives a monthly statement and can either pay the entire amount in full (in which case no interest has to be paid) or in monthly instalments (plus a fixed rate of interest).

 

credit кредит

loan позичка

mortgage закладна (іпотека)

credit card кредитна картка

 

Exercise 2. What kind of credit did each of these bank customers ask for?

1. Mr. and Mrs. Garrington sold their old house and bought a new one. However, as the new house was much largerand more expensive, they needed credit to pay the difference.

2. Jenny is a student whose income only just meets her ex­penses. In the winter months her heating and electricity bills are higher, and without credit she wouldn't always be able to pay them.

3. Adam wants to buy a car, but only has enough savings to buy an old one. He would rather make use of his bank's credit facilities to buy a newer model which hopefully wouldn't need repairing so often.

4. Mrs. Brown has her own company. She travels a lot on business and likes to make use of her bank's credit facilities to spread her expenses over a longer period.

5. Mr. Price has to pay the rent for his apartment on the first day of every month. However, he only receives his salary on the third day of the month. Without his bank's credit facilities, he wouldn't always be able to pay the rent.

Other commercial bank services include:

• Standing order facilities, where the same amount of money is transferred from one account to another at regular intervals. For example, somebody might set up a standing order to pay the rent automatically every month.

• Direct debit facilities, where a varying amount of money is transferred from one account to another at regular intervals. For example, somebody might set up direct debit facilities to pay his telephone bill automatically every month.

• Advising their customers on making investments, for example in gold, property or shares.

• Safe facilities for their customers to lock up va­luable articles such as jewellery or important documents.

• Providing foreign currency and traveller's cheques.

• Paying out cash (for example from cash dispens­ers) and accepting cash deposits.

• Providing cheques and carrying out cheque trans­actions.

 

standing order постійне замовлення

direct debit пряме дебітування

investment інвестиція, вкладення грошей

propertes майно

shares акції

safe сейф

cash dispenser банкомат

deposit платіж, внесок

 

 

Task: Summarize the information you have learnt from text C.

Answer the following questions:

1. What makes you choose the banking speciality?

2. Who supervises and regulates the banking system of Ukraine?

3. How many levels does the banking system of Ukraine consist of?

4. What types of banks do you know?

5. What is the aim of commercial banks?

6. Since when has the banking system transferred to the International Acounting Standards?

7. When was the Ukrainian hrivnya put into circulation?

8. According to what laws do the Ukrainian banks act?

9. Who elects the Board of the bank at the Annual General Meeting of shareholders?

10. What does a bank publish for the Annual general meeting?

 

 

Translate the following sentences from Ukraine into English:

1. Я цікавлюся банківською справою ще зі школи.

2. Національний банк України регулює та контролює банківську систему України.

3. Банківська система України складається з двох рівнів: національний банк України та комерційні банки.

4. Існує багато різних термінів для назви банків: комерційні банки, інвестиційні банки, ощадні, іпотечні банки.

5. Мета комерційних банків – заробляти прибуток.

6. Банківська система України перейшла на міжнародні стандарти з 1 січня 1998 року.

7. Українська гривня була введена в обіг у 1996 році.

8. Банки України діють відповідно до закону про банки.

9. Акціонери банку обирають правління банку на щорічних загальних зборах.

10. Банк друкує свій звіт у підготовці до щорічних загальних зборів акціонерів.