Primary Functions of Commercial Banks

Modern commercial banks serve three primary functions: (1) they provide safekeeping services; (2) they make loans; and (3) as a group, they create money. The safekeeping function of banks originated with the early goldsmiths in seventeenth-century England. It was a common practice at that time for people to keep their gold and silver in the strong vaults of local goldsmiths. Today, modern banks provide a similar service in the form of safe-deposit boxes, which can be rented for an annual fee. However, the most important safekeeping service provided by banks today is that depositors can place their savings in FDIC- insured bank accounts.

The second function of banks is to make loans. Most of the money that is deposited with commercial banks is loaned out. These banks channel the savings of depositors into credit-worthy loans – businesses loans, real estate loans, home- improvement loans, automobile loans, and so forth. Of, course, commercial banks earn substantial profits by charging borrowers a higher interest rate on loans that these banks pay to depositors on savings.

1. Випишіть виділені жирним шрифтом слова, вкажіть їх українські еквіваленти та запам’ятайте.

Напишіть анотацію до тексту.

IY. Індивідуальне читання (обсяг – 15 тис. друкованих знаків газетного тексту).

1. Прочитайте та перекладіть статтю(статті).

Випишіть та запам’ятайте 20 ключових слів.

3. Підготуйте усний переказ прочитаного.

Контрольна робота №1

Варіант 4

І. Граматика.

Доповніть речення питальними займенниками.

– did you arrive to Kiev?

– met you in Kiev?

– did Nick send his letter?

– does he make reports at the Conferences?

– is your mother?

– books are these?

– does your car cost?

– paper is there on the desk?

– does your little sister cry?

– do you have a rest in summer?

Пропишіть словами подані числівники.

9; 13; 250; 8920; 301046; 0,7; 30,87; 14117; 7/8; 2 5/4

Перепишіть, вибираючи правильну форму.

1. We (need/ are needing) any information.
2. She (prefer/ is preferring) listening to classic music.
3. They (believe/ are believing) that she is a clever girl.
4. I (think/ am thinking) this problem is not difficult.
5. It (seems/ is seeming) they will come soon.
6. Where is John? He (will/ is going to) bring you mail.
7. Ann (will/ is going to) get married after graduating from the University.
8. He (will/ is going to) get a new job very soon.
9. We (shall/ are going to) remember you forever.
10. Kate is in the bathroom. She (will/ is going to) have shower.

Перекладіть англійською мовою.

1. Він припаркував свою машину біля магазину.
2. Є великий сад позаду будинку.
3. Що під столом?
4. Книжка в сумці.
5. Шафа навпроти вікна.
6. Вона взяла книжку з полиці і поклала її в сумку.
7. Чиї це діти? – Наші.
8. Вони дзвонили нам учора, а їм сьогодні.
9. Це мої родичі, а то їхні.
10. Я не бачив її дуже давно.

ІІ. Мовна практика.

Key nouns

Look at the dictionary definitions below, decide what each one is describing, then write your answers in the table on the next page. The first and last letters of each word have already been put into the table for you.

If you complete the table correctly, you will reveal a word in the shaded vertical strip that can be used to complete the sentence in the box at the bottom of the next page.

1. A person who is appointed to deal with financial or other matters on behalf of another person.

2. A licence to trade using a brand name and paying a royalty for it.

3. An official who investigates complaints by the public against government departments or other large organisations (especially banks, travel companies, and electricity, gas, water and telecommunications providers).

4. Somebody who gives a guarantee.

5. A failure to carry out the terms of an agreement, a contract, etc.

6. One of the main conditions of a contract, where one party agrees to what is proposed by the other party. Also the act of signing a bill of exchange to show that you agree to pay for it.

7. The notifiable offence of telling lies when you have made an oath to say what is true in court.

8. Somebody who has committed a civil wrong to somebody, entitling the victim to claim damages.

9. A payment made by a person or company to cover the cost of damage or hardship which he / she / it has caused.

10. An attempt by a third party to make the two sides in an argument agree.

11. A document in which a company acknowledges it owes a debt and gives the company's assets as security.

12. The closing of a company and the selling of its assets.

13. Money claimed by a claimant from a defendant because of harm or damage done, or money awarded by a court to a claimant as a result of harm suffered by the claimant (Clue: this word has already appeared elsewhere in this exercise).

14. The legal responsibility for paying someone for loss or damage incurred.

15. A failure to give proper care to something, especially a duty or responsibility, with the result that a person or property is harmed.

16. The good reputation of a business and its contacts with its customers (for example, the name of the product it sells or its popular appeal to customers).

17. A court order telling a person or a company to stop doing something, or telling them not to do it in the first place.

III. Робота з текстом загально фахової тематики.

1. Прочитайте та перекладіть письмово поданий нижче текст.

Corporation

A business corporation is an institution established for the purpose of making profit. It is operated by individuals. Their shares of ownership are represented by stock certificates. A person who owns a stock certificate is called a stock-holder.

There are several advantages of the corporate form of ownership. The first is the ability to attract financial resources. The next advantage is the corporation that attracts a large amount of capital it can invest it in plants, equipment and research. And the third advantage is that a corporation can often give higher salaries and thus attract talented managers and specialists.

The privately owned business corporation is one type of corporation. There are some other types too. Educational, religious, charitable institutions can also incorporate. Usually such corporation does not issue stock and is nonprofit. If there is a profit it is reinvested in the institution rather than distributed to private stockholders.

1. Випишіть виділені жирним шрифтом слова, вкажіть їх українські еквіваленти та запам’ятайте.

Напишіть анотацію до тексту.

IY. Індивідуальне читання (обсяг – 15 тис. друкованих знаків газетного тексту).

Прочитайте та перекладіть статтю(статті).

Випишіть та запам’ятайте 20 ключових слів.

3. Підготуйте усний переказ прочитаного.

Контрольна робота №1

Варіант 5.

І. Граматика.

Доповніть речення питальними займенниками.

1. – will you give me a pen?
2. – do you usually have a meeting with your manager?
3. – does he come to his office so early?
4. – does he help to cook meals?
5. – do you usually do on Sunday?
6. – does he spend his weekends?
7. – does their new car cost?
8. – does it take her to prepare for a seminar?
9. – friends did you make at the University?
10. – do you visit your grandparents?

Пропишіть словами подані числівники.

3; 135; 1,391; 576345; 1993; 3,2; 0,16; 1/6; 8 3/5.

Перепишіть, вибираючи правильну форму.

I (prefer/ am preferring) to have dinner at home.

He (likes/ is liking) his younger sister very much.

We (hate/ are hating) to walk in rainy weather.

This car (belong/ is belonging) to us.

She is clever. She (understands/ is understanding) everything.

What (will you/ are you going to) do next hour?

They (will/ are going to) take you with them, if you are free now.

Don’t make noise. I (will/ am going to) retell the story.

Don’t interrupt him. He (will/ is going to) speak.

Look at the clouds. It (will/ is going to) rain.

Перекладіть англійською мовою.

1. Він був жонатий.
2. Вона говорила німецькою добре.
3. Ми отримали листа від нашого партнера.
4. Могли б Ви допомогти б мені?
5. Ці продукти коштували дорого.
6. Її робота важливіша, ніж наша.
7. Його батьки живуть у селі, а її в місті.
8. Вона завжди допомагає нам.
9. Я не дав їм вашої адреси.
10. Ми давно не бачили його брата.

ІІ. Мовна практика.

Key expressions

Complete definitions 1 – 30 with the first part of an appropriate expression from the first box, and the second part from the second box.

articles… burden… compulsory… confidential… data… employers'… employment… force… freezing… fundamental… grievance… intellectual… joint…(x2) limited… memorandum…(x2) obligation… out… power… pre-emption… terms… trade… unfair… unliquidated… unprofessional… vicarious… winding… without… wrongful…

 

…and conditions …and several …breach …clause …competition …conduct …damages …dismissal...information...injunction …liability (x3) …liquidation …majeure …mark …of association (x2) …of attorney …of confidentiality …of court …of proof …of satisfaction …prejudice …procedure …property …protection …tribunal …up …venture

 

1. An official power giving someone the right to act on someone else's behalf in legal matters is called

__________.

2. The protecting of information about individuals stored in a computer from being copied or used

wrongly is called __________.

3. __________ is a phrase spoken or written in a letter when attempting to negotiate a settlement

which means that the negotiations cannot be referred to in court or relied upon by the other party if

discussions fail.

4. A __________ is a business partnership where two or more companies join together as partners for a

limited period.

5. __________ is an expression of French origin that is used for something which happens which is out

of control of the parties who have signed a contract (for example, a war or a storm), and is also

known as an act of God.

6. A __________ refers to the various steps an employee takes if he / she wants to complain about his /

her employers.

7. __________ are the contents of a document which regulate the way in which a company's affairs

(such as the appointment of directors or the rights of shareholders) are managed.

8. A section in a company's (number 7 above) which requires any shares offered for sale to be first

offered to existing shareholders is known as a __________.

9. When a company is put into liquidation, this is often known as __________.

10. The legal responsibility of an employer when employees are subject to accidents due to negligence

on the part of an employer is called __________.

11. The legal responsibility of one person for the actions of another person, especially the responsibility

of an employer for acts committed by an employee in the course of work, is called __________.

12. A __________ company is a company where each shareholder is responsible for paying the

company's debts only to the face value of the shares he / she owns.

13. A __________ is a legal document setting up a limited company and giving details of its aims, capital

structure, and registered office.

14. A __________ is a document showing that a company has repaid a mortgage or charge.

15. A situation where two or more parties share a single legal responsibility, and each party is also liable

for the whole claim, is called __________ liability.

16. When a dispute between two parties is settled before it gets to court, it is known as an __________

settlement.

17. When an overseas company (or an individual) cannot access its assets because a court order prevents

it from doing so, this is known as a __________.

18. __________ are compensatory payments which are not for a fixed amount of money but are

awarded by a court as a matter of discretion depending on the case.

19. The duty to prove that something which has been alleged in court is true is known as the

__________.

20. Behaviour which is not suitable for a professional person and goes against the code of practice of a

profession is called __________.

21. Facts which are secret and must not be passed on to other people are called __________.

22. A body responsible for hearing work-related complaints as specified by statute is called an

__________.

23. An __________ is a legally-binding rule that is imposed on the recipient of private or secret

information which states that the recipient should not pass the information on to someone else.

24. The name, design or other feature which identifies a commercial product, has been registered by the

maker and cannot be used by other makers is called a 'registered __________'.

25. __________ is something such as a copyright, patent or design which someone has created or

produced that no-one else can legally copy, use or sell.

26. The conditions which have to be carried out as part of a contract, or arrangements which have to be

made before a contract is valid, are called __________.

27. The removal of someone from a job for a reason that cannot be justified, and which is in breach of

contract, is called __________.

28. __________ is an attempt by one company to do better than another company by using methods

such as importing foreign products at very low prices or by wrongly criticising a competitor's

products.

29. A failure to carry out an essential or basic term of a contract is known as a __________.

30. __________ is when a court orders a company to close and its assets to be sold.

 

III. Робота з текстом загально фахової тематики.