Ex. 7. Translate the following sentences into English paying attention to the use of the Conditionals
1. Если бы мы раньше приняли этот закон, бизнес развивался б лучше.
2. Если бы налог на добавленную стоимость не сковывал бизнес.
3. Если бы я был президентом, я бы отклонил законопроект о налогообложение доходов бедных слоёв населения.
4. Если мы пересмотрим положение контракта, мы сможем расширить заказы.
5. Если цена на хлеб упадёт, производство мяса увеличится.
6. Если бы мы умели экономить, мы бы жили лучше.
7. Хотелось, чтобы ты помог мне.
8. Лучше б я купил компьютер, а не музыкальный центр.
9. Если б не было проблем, мы бы смогли поехать на конференцию.
10. Если б у нас были возможности, мы бы провели прошлые каникулы лучше.
Text III. Banking
Banks are closely concerned with the flow of money into and out of the economy. They often co-operate with governments in efforts to stabilize economies and to prevent inflation. They are specialists in the business of providing capital, and in allocating funds on credit. Banks originated as places to which people took their valuables for safe-keeping, but today the great banks of the world have many function in addition to acting as guardians of valuable private possession.
Banks normally receive money from their customers in two distinct forms: on current account, and on deposit account. With a current account, a customer can issue personal cheques. No interest is paid by the bank on this type of account. With a deposit account, however, the customer undertakes to leave his money in the bank for a minimum specified period of time. Interest is paid on this money.
The bank in turn lends the deposited money to customers who need capital. This activity earns interest for the bank, and this interest is almost always at a higher rate than any interest which the bank pays to its depositors. In this way the bank makes its main profits.
We can say that the primary function of a bank today is to act as an intermediary between depositors who wish to make interest on their savings, and borrowers who wish to obtain capital. The bank is a reservoir of loanable money, with streams of money flowing in and out. For this reason, economists and financiers often talk of money being “liquid”, or of the “liquidity” of money. Many small sums which might not otherwise be used as capital are rendered useful simply because the bank acts as a reservoir.
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The system of banking rests upon a basis of trust. Innumerable acts of trust build up the system of which bankers, depositors and borrowers are part. They all agree to behave in certain predictable ways in relation to each other, in relation to the rapid fluctuations of credit and debit. Consequently, business can be done and cheques can be written without any legal tender visibly changing hands.
Vocabulary notes
the flow of money –движение, поток денег
to provide capital –обеспечить капитал
to allocate –1. ассигновывать, 2. распределять, размещать
safe-keeping –хранение ценностей в (банковском) сейфе
guardian – опекун
possession –имущество, собственность
account –счёт
current account –текущий банковский счёт (не сберегательный)
deposit account –депозитный счёт, англ. срочный вклад
to issue a cheque –выписать чек
to pay interest –выплачивать процент
to lend money –давать деньги в займы
deposited money –деньги на счетах вкладчиков
to earn interest –приносить доход
depositor –вкладчик
intermediary [intə'm:djəri] – посредник
to act as an intermediary for smb. – быть посредником для кого-то
savingspl. – сбережения, накопления
to make interest on one’s savings –получать процент на свои сбережения, получать доход на собственные сбережения
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borrower –заёмщик
reservoir ['rezevwa:] –резервуар, хранилище
to loan –ссужать, давать взаймы
loanable money –ссужаемые деньги
streams of money –денежные потоки
liquid –ликвидный, быстро реализуемый
liquidity –ликвидность
to render useful –делать полезным
trust –траст, доверительные имущественные отношения
credit and debit –расход и приход (доход)
Comprehension and Discussion Questions
1. What are banks closely concerned with and what was their original function?
2. In what way do banks cooperate with governments?
3. How do banks function now and what is their primary function?
4. How does the bank make its main profit?
5. What is the liquidity of money?
6. What is trust for the banking system?
Ex. 1. Read the text and do the tasks:
a) Find in the text the terms which are used to describe the operations of the bank.
b) Pick out from the text set expression with the word “interest”. Translate them into Russian and use them in sentences of your own.
c) Give the word combinations with the word “account” used in the text and explain their meanings. What other meanings of this word do you know?
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