Discount house, deposit, loan, charter, lend, borrow, denomination, claim, installment, repository

BANKING

A banker is a man who lends you umbrella when the weather is fair, and takes it away from you when it rains.

Banks

- financial institutions that offer the widest range of financial services – especially credit, savings, and payment services – and perform the widest range of financial functions of any business firm in the economy.

Affiliated bank

- bank whose stock has been acquainted by a bank holding company.

Bankers’ banks

- groups of banks that are given a legal permit to create regional service firms in order to facilitate the delivery of certain customer services, such as rapid transfer and investment of customer funds and the execution of orders to buy or sell securities.

Bank holding company

- a corporation charted for the purpose of holding the stock (equity shares) of one or more banks.

Correspondent banking

- a system of formal and informal relationships among large and small banks established to facilitate the exchange of certain services, such as clearing checks.

Nonbank banks

- financial service firms that either offer checking account services or grant commercial loans but not both of these services.

Unit banks

- banks that offer the full range of their services from one office, though a small number of services (such as taking deposits or cashing checks) may be offered from limited –service facilities (such as drive-in windows and automated teller machines).

Ex.1. Translate the following sentences. Pay attention to the italicized words.

1. Don’t bank on going abroad this summer, we may not have enough money.

2. The morning began fine, but now clouds are banking up.

3. I have always bank with the Royal Bank.

4. They have an access to huge banks of public data or library information.

5. The only way out is to ask your bank for a loan.

6. I am not sure if I should buy this suit. – Come on! It won’t break the bank.

7. Mr. Smith had bankrolled them when they had nothing.

Ex. 2. Match the term with its definition.

Discount house, deposit, loan, charter, lend, borrow, denomination, claim, installment, repository.

1. A place where you keep objects of a particular type.

2. A sum of money lent for an agreed period of time and at an agreed rate of interest.

3. Demand or request for a thing considered one’s due.

4. A document granting rights, issued by a legislature.

5. Any of several usually equal payments for something.

6. Money left with an organization for safe keeping or to earn interest.

7. Class of measurement of money.

8. Company or bank on the discount market that specializes in discounting bills of exchange.

9. Acquire temporarily, promising or intending to return.

10. Allow the use of money at interest.

Ex. 3. Study the following words and word combinations. Make your own sentences, using each of them. Translate the sentences into Russian.

Risk; riskless; risky; desirable risk-return features; risk-taker; low-risk securities; risk-exposure; riskiness; insurable risk; at risk; put at risk; run a risk; take a risk; risk capital; calculated risk; risk on.

Ex. 4. Differentiate between:

Risk - hazard - jeopardy - peril.

Give your own sentences to show you understand the difference.

Ex. 5. Think of the nouns that are most commonly used with the following adjectives:

Current, surplus, ongoing, efficient, competitive, negligible, profitable, trustworthy.

Ex. 6. Think of the nouns that are most commonly used with the following verbs.

Issue, sell, perform, save, cover, accumulate, flow, afford, meet, recover, incur, claim.

Ex. 7. Think of the verbs and adjectives that are most commonly used with the following nouns.

Fund, income, service, flow, deposit, borrower, claim, loan, fee.

Ex. 8. Make up your own sentences with any ten word-combinations from ex. 5, 6, 7.

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