VI. Join the halves. V. Opposites and synonyms

V. Opposites and synonyms.

IV. Case Study.

Thomas Drummond, a third-year student of London University, of the Finance Department, is writing a course-paper on the topic “The Central Bank of Ukraine”. He is looking at some statistics, concerning this financial institution. He is to write about its international activity and to offer his own ways of strengthening the ties between the NBU and its correspondent banks abroad. Some information given to him is in Ukrainian. So, first of all his task is:

1) to give a very close English version of the text:

Національний банк України тісно співробітничає з МВФ, Світовим банком та Європейським банком реконструкції та розвитку, Банком міжнародних розрахунків у Базелі, Центральними банками Німеччини, Нідерландів, Австрії, Великої Британії, Франції, Польщі, Угорщини, Чехії, Словаччини, Фінляндії, США, а також з провідними комерційними банками Західної Європи та США з питань монетарної політики, організації банківського нагляду, банківської статистики, складання платіжного балансу, впровадження прийнятих у міжнародній практиці систем розрахунків та міжнародних стандартів бухгалтерського обліку.

Національний банк України має кореспондентські відносини з понад 40 зарубіжними банками. У 1998 році НБУ відкрив свою сторінку в міжнародній комп’ютерній мережі INTERNET.

2) to compile a list of correspondent banks of the NBU;

3) to develop a strategy of strengthening the correspondent relations of the NBU.

For each of the following words you should provide a word with the same or similar meaning and a word which is opposite in meaning.

Word	Synonym	Opposite
cost	expense	revenue
uniform (adjective)
instrument (noun)
exclusive (adjective)
network (noun)
reserve (noun)
general (adjective)
accumulate (verb)
grant (verb)
protect (verb)
risk (noun)
borrower (noun)
stability (noun)
develop (verb)
set up (verb)
steady (adjective)

On the left there are ten halves of the sentences. On the right there are the other halves of the sentences, though not in the same order. You are required to make complete sentences.

1. The national currency stability can be only provided for …	a) of required reserves and interest rate policy, and carrying out deposit operations and transactions in the credit foreign exchange and stock markets.
2. In order to stabilize the banking system under crisis conditions …	b) the available money supply in circulation and the effectiveness of the banking system intermediary activity in financial markets.
3. The NBU plans to regulate the monetary market using the policy …	c) discount rate and interest rates of its transactions as the basic price of the national currency and the lever to stabilize the monetary market.
4. The required reserves policy will be realized using the united reserve rate of funds attracted by commercial banks in …	d) special attention will be paid to the definition of correlation between interest rates of the NBU credit and deposit operations.
5. The basis of the interest rate policy is the use of the NBU …	e) to maintain the necessary level of the Hryvnia purchasing value and the banking system liquidity.
6. The NBU interest rate policy will consist in regulating interest rates of all NBU transactions in the monetary market in order …	f) at the expense of the NBU credits and will neutralize the excess liquidity in other commercial banks, using the interest rate policy.
7. To prevent the commercial banks’ speculations in operations with the NBU…	g) on condition that the banking system functions stably.
8. The commercial banks’ interest rates on credit and deposit operations mainly depend on …	h) both in the national and in free convertible currency.
9. Taking into account that the settlement of the situation in the interbank credit market needs time, the NBU will give the opportunity to some commercial banks …	i) credit which is out of the NBU sphere of influence.
10. It should be noted that the interest rates’ level includes …	j) the NBU used and plans to fulfill additional measures aimed to increase the solvency and reliability of the banking system’s functioning.

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