C) Say a few words about services provided by commercial banks

B) Write down 3-5 questions about the texts.

A) Supply the articles where necessary.

B. COMMUNICATIVE SITUATIONS

1. Round-table discussion. The question on agenda: “The services that banks offer”. Open such questions:

· What services do banks offer to individuals/corporations?

· What kinds of banks exist? Describe their activities.

· How can an individual get a bank loan?

2. Explain how banks earn profit, how they act as financial intermediaries, how they create new money.

1. Do you have a credit card or a debit card? What was the most recent purchase you made your cards? Describe the sequence of connected events with the use of the cards.

1. Make a short essay on the following:

a) Services provided by banks.

b) Your attitude to the bank’s work.

c) Different kinds of accounts opened by banks.

d) The influence of modern technology on banking.

¨READ AND DISCUSS

a) A bank was originally... bench set up in the marketplace for... exchange of money. In a commercial sense, a bank is... establishment where money is received on deposit to be repaid on demand or at notice, as may be arranged, and where loans are negotiated, bills discounted, and general financial business transacted. The main functions of... modern commercial bank are:

= to receive money on current accounts repayable on demand, or
on deposit accounts repayable subject to an agreed notice;

= to lend money by granting... loans and... overdrafts or
discounting bills of exchange and... promissory notes.

Apart from these two chief functions – linking up lenders and borrowers of capital – the bank performs many other functions:

=... obtaining and giving information as to... financial standing of
customers:

= transferring funds for... payments or... investments;

= making foreign currency transactions;

= issuing letters of credit, drafts and traveler’s cheques;

= undertaking duties of... agents, trustees and guarantors;

= performing leasing and factoring operations and others.

A very important part of any efficient banking system is... inter­bank market.

Some banks get more... deposits than requests for loans, and vice versa. The interbank market smooths out these imbalances by providing... way for … bank with too many deposits to pass them on to... bank with too many losin requests. In London there are different interbank markets for different currencies and for deposits with different maturities. Of these,... Eurodollar interbank market is particularly important, and LIBOR (the London interbank offered rate) is … key dollar rate for all the world's international borrowing and lending.

Words you may need:

sense – зміст, смисл

establishment – заклад

on deposit – на депозит

on demand – за вимогою

negotiate – вести переговори

bill – вексель

repayable – який підлягає оплаті

bill of exchange – переказний вексель

promissory note – простий вексель

apart from – окрім

link up – зв’язувати

financial standing – фінансовий стан

to issue a letter of credit – виставляти/виписувати акредитив

draft – тратта, переказний вексель

trustee – попечитель

guarantor – гарант

leasing and factoring operations – операції по лізингу та факторингу

interbank market – міжбанківський ринок

vice versa – навпаки

to smooth out imbalances – згладжувати диспропорції

maturity – термін погашення зобов’язання

LIBOR – ставка пропозиції (продавця) на лондонському міжбанківському ринку депозитів

Дата добавления: 2014-11-29