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deposit (n) - вклад (депозит)
to manage a deposit - управлять вкладом (депозитом)
to list (home, foreign deposits) - содержать перечень вкладов в национальных и зарубежных банках
to place money on a deposit, to make a deposit - положить деньги на вклад
to use smb.’s deposit facilities - воспользоваться услугами кого-либо по размещению средств
current account (Br.) - текущий счет
checking account (Am.)
to open an account with a bank - открыть счет в банке
to put money on an account - положить деньги на счет
to keep, hold, have an account with a bank - иметь счет в банке
to manage, operate, service an account - вести счет (в банке)
to pay interest on an account - платить проценты по счету
to hold money on an account - хранить деньги на счете
account holder - владелец счета
enable (v) - давать кому-либо возможность или право что-либо сделать
allow (v) - позволять, разрешать
withdraw (v) - снимать, забирать
to withdraw money from an account - снять деньги со счета
to withdraw a deposit - отозвать, взять вклад из банка
transaction (n) - сделка
to make, carry out a transaction - совершить сделку
overdraft (n) - превышение кредита (в банке); перерасход
overdraft facility - право на превышение кредита
to grant an overdraft - предоставить право превысить кредит
to obtain an overdraft - получить право превысить кредит
to repay an overdraft - погасить задолженность
deposit account (Br.) - депозитный (сберегательный) счет
saving account (Am.)
loan - (n) заем, ссуда
a loan of money - денежный заем
to issue, to grant, to advance a loan – предоставить заем
to make a loan - получить заем
loan against borrower’s note - ссуда под расписку должника
instalment (n) - очередной взнос
monthly instalments - ежемесячные взносы
mortgage (n) - ипотека, закладная
mortgage loan, real estate loan - ссуда под недвижимость
real estate mortgage - закладная под недвижимость
to give a mortgage - выдавать закладную
to hold; receive; take out a mortgage on smth. - получить закладную на что-либо
to borrow on mortgage - получать ссуду под залог недвижимого имущества
to redeem a mortgage, to pay off a mortgage - выкупать закладную
standing order - постоянное поручение
property (n) - имущество; собственность
external property - собственность за рубежом
domestic property - собственность в стране
immovable (fixed, real) property - недвижимое имущество
share (n) - акция
to issue shares - выпускать акции
to release shares at the rate - продавать акции по какой-либо цене
safe facilities - сейфовые помещения
travellers’ cheques - дорожные чеки
cash dispenser (n) - банкомат
1. Answer the questions.
1) What are commercial banks?
2) What are advantages and disadvantages of a current account?
3) What is a current account used for?
4) What do you know about a deposit account?
5) What is an overdraft?
6) Why isn’t it the best option for long-term borrowing?
7) What are loans taken out for?
8) How is a loan repaid?
9) What is a mortgage?
10) What are other commercial bank services?
2. Translate into English.
Торговать деньгами; получать и хранить депозиты; давать деньги в долг; открыть текущий счет; хранить деньги в безопасном месте; снимать деньги со счета в любое время; носить много наличных; перевод денег; выплачивать проценты; предоставлять кредиты в форме овердрафта и ссуды; до определенной суммы, согласованной с банком; выплачивать деньги, когда банк требует этого; выплачивать относительно высокую процентную ставку; долгосрочный заем; ежемесячные очередные взносы; открыть аккредитив; дать совет клиентам по поводу инвестиций; операции с валютой.
3. Find proper definitions.
1) Transaction - a) something lent (usually money) that will have to be given or paid
back
2) Standing order - b) an arrangement by which a customer can withdraw more from an
account than has been deposited in it, up to an agreed limit
3) Overdraft - c) an instruction to a bank to pay fixed sums of money at stated times
4) Loan - d) a single business deal
4. Complete the text using the words:
cheque, loan, current account, deposit account, investment advice, foreign currency, cash dispensers, credit card, standing order
Banking Products
My salary is paid directly into a low-interest 1) …. Ican withdraw money from it or from automatic 2) …. I pay regular, monthly bills by way of a 3) …: the bank pays them according to my instructions, and debits my account. I pay irregular bills by 4) … or use my 5) … in shops and restaurants. I used to have a 6) … which paid a high interest, but had restrictions as to how and when I could withdraw my money. Last year I asked the bank for a 7) … to buy a car. I always use the bank to buy 8) … when I go abroad. My bank also keeps offering me 9) … about shares, bonds, mutual funds and so on.
5. Read the dialogue and translate it into Russian.
Bank clerk Mr.Watson – Good morning, sir.
Mr. Finbury - Good morning.
W – What can I do for you?
F - I have got some capital and I’d like to find out about investing it.
W – In order to advise you, may I ask you, what your plans are, the term of your investment, and above all, the sum you have at your disposal.
F – Well, you see, I don’t want to block all my capital. I may need some of it one of these days… I’d like to invest half the capital and have the rest at my immediate disposal. Let’s say, I’d invest 200000.
W – Good. How soon would you like to have access to your capital once it has been invested?
F- I’d like to get a new car in a couple of years and I also plan to take a holiday abroad in a year’s time. The rest can remain blocked.
W – You have several possibilities, then. First, you can keep the part of your money in a current account, which pays a small interest 0f 0,5% but as you know you can withdraw money any time. Our deposit accounts pay 10 – 12% and it is good to use them saving for your holiday and a new car.
F – I quite agree with you but I’d like to have the remaining money available at, say, 4 to 5 years notice. What can you recommend?
W – In that case we can offer you our certificates of deposit at 3, 4 or 5 years. And the interest is higher than on a deposit account.
F – That is interesting. If I give my wife power of attorney, would that be valid on all my accounts?
W – Certainly.
F – Well, I’d like to open a current account as you suggest, and I’d like to put 50000 in it now. We’ll see about the rest later.
W – Here is the form for the opening of an account. Fill in some information and sign it here, please… Thank you. Could I have your passport, please? All right, let’s go over to the counter and deposit 50000.
F – Of course.
6. Answer the questions.
1. How much money does Mr. Finbury have at his disposal?
2. What does the clerk want to know?
3. What expenses does Mr. Finbury plan in the future?
4. What interests are paid on current and deposit accounts?
5. What does Mr. Watson say about certificates of deposit?
6. What is Mr. Finbury’s decision?
7. What does he have to do before opening an account?
7. Read the text and translate it into Russian.
Types of Banks
Central banks supervise the banking system, fix the minimum interest rate, issue bank notes, control the money supply and act as lenders of last resort.
Commercial banks are businesses that trade in money. They receive and hold deposits, pay money according to customers’ instructions, lend money and so on. In some countries such as England these banks have branches in all major towns.
In some European countries, notably Germany, Austria and Switzerland, there are universal banks, which combine deposit and loan banking with share and bond dealing, investment advice, etc. Yet even universal banks usually form a subsidiary, known as a finance house, to lend money – at several per cent over the base landing rate – for higher purchase or instalment credit, that is, loans to customers that are repaid in regular, equal monthly amounts.
In Britain, the USA and Japan, however, there is, or used to be, a strict separation between commercial banks and banks that do stock broking or bond dealing. Thus in Britain, merchant banks specialize in raising funds for industry on the various financial markets, financing international trade, issuing securities, dealing with merges and so on. They also offer stock broking and portfolio management services to rich corporate and individual clients. But the distinction between commercial and merchant banks has become less clear in recent years.
In Britain there are also building societies that provide mortgages, i.e. they lend money to home buyers on the security of houses and flats, and attract savers by paying higher interest,
than the banks.
There are also supranational banks such as the World Bank or the European Bank for Reconstruction and Development, which are generally concerned with economic development.
8. Summarize the information of the unit and speak on the topic: Commercial Banks
UNIT 4 Business Organizations (Businesses)
Business organizations are the basic economic institutions in different economic systems. They determine much of how the economy operates. Businesses produce goods and services and they might be small firms with just one owner or very large with thousands of shareholders “owing” the firm. In many countries there are nationalized companies belonging to the state, as well as private companies.
There are various types of business organizations, which operate in the private sector. The simplest form is an individual proprietorship run by a sole trader: for example, a shop, a taxi, a restaurant owned by a single person who is entirely responsible for all the business affairs. This type of organization has certain advantages and disadvantages. Sole trader doesn’t have to consult anyone else when making decisions, the profits don’t have to be shared with anyone else, it is easy to organize such business. All these things explain why so many people start firms and try to run them alone. But a sole trader sometimes faces difficult problems. One person has limited resources to start and operate a business and he has to bear 100% of the risks of his company.
A sole trader must deal with the problem of unlimited liability. According to the law, the owner and the business are one and the same. If the business goes bankrupt, the owner must pay all the debts. The personal property such as a home or a car can be taken. No limit is placed on the amount the owner can lose. High profits can make him wealthy, but high losses can ruin both his company and his personal property.
If two or more individuals wish to go into business together they can form a partnership.
Partners generally contribute equal capital, have equal authority in management, and share profits or losses. In many countries doctors, lawyers and accountants are not allowed to form companies, but only partnerships with unlimited liability – which should make them act responsibly as in the case of bankruptcy, a partner with a personal fortune can lose it all.
Often one person doesn’t have enough money to start a large business, so combining the resources of a number of people and forming a corporation is a way to raise the large amount of money. In Britain, most of smaller enterprises are private limited companies (Ltd.), which cannot offer shares to the public. Their owners can only raise capital from friends or from banks.
A corporation is a business that has the rights and duties of an individual. It can buy, sell and own property, make contracts, hire and fire workers, set prices and be sued and taxed.
A successful growing British business can apply to the Stock Exchange to become a public limited company (plc); if accepted it can publish a prospectus and offer its shares for sale on the open stock market.
And, as we know, firms in the public sector are owned by the government, for example the post office or the railway.
determine (v) – определять, устанавливать
owner (n) - собственник
to own (v) – обладать, иметь в собственности
shareholder (n) - акционер
individual (sole) proprietorship - предприятие, находящееся в индивидуальной собственности; имеющее одного владельца
proprietor - собственник, владелец, хозяин
sole trader - частный предприниматель
share (v) - делить, разделять
to share smth. with smb. - делить что-либо с кем-либо
share (n) – часть, акция
run smth. (v) – управлять, руководить
sin. to operate
bear (v) - нести (расходы, ответственность и т. п.)
to bear responsibility - нести ответственность
to bear the expenses (losses, etc.) - нести расходы (потери и т. п.)
unlimited liability - неограниченная ответственность
ant. limited – ограниченная
according to the law – в соответствии с законом
property (n) – собственность
amount (n) - сумма
partnership (n) – товарищество
contribute (v) – вкладывать
to contribute to smth.- вкладывать во что-либо
fortune (n) - богатство, состояние
to make a fortune - накопить состояние
an enormous, large, vast fortune - огромное богатство, большое состояние
to raise the large amount of money -
enterprise (n) - предприятие
a commercial enterprise - коммерческое предприятие
private limited company - частная (закрытая) компания с ограниченной ответственностью
hire (v) - нанимать
fire (v) - увольнять
sue (v) – подавать в суд
tax (v) – облагать налогом
public limited company (plc) - публичная (открытая) компания с ограниченной ответственностью
prospectus (n) - проспект компании (документ, содержащий информацию об акциях до их продажи)
stationary prospectus - окончательный проспект выпуска ценных бумаг
preliminary prospectus - предварительный проспект нового выпуска ценных бумаг
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