I. Read and translate the following words without using a dictionary
Banking, person, financial, commercial, central, company, finance, fund, deposit, institution, investment, instrument, contract, cheque, electronically, credit, debit, service, automate, regular, industry, form, to guarantee, international.
II. Read and translate the text.
WHAT IS BANKING?
Banking is the transactions carried on by any person or firm engaged in providing financial services to consumers or businesses.
For these purposes there exist commercial banks, central banks, savings banks, trust companies, finance companies and merchant banks. Banking consists of safeguarding and transfer of funds, lending or facilitating loans, guaranteeing creditworthiness and exchange of money. In other words, banking is the acceptance, transfer, and creation of deposits. The depository institutions are central hanks, commercial banks, savings and loan associations, building societies, and mutual savings banks.
Safeguarding and transfer of funds
Vaults and safes are the means for safeguarding of funds. Money is physically stored there. These physical deposits are in most cases insured against them and against the bank being bankrupt and unable to repay the funds. In some banks customers can use safety deposit boxes for valuables. To save money in banks is profitable because bank customers deposit interest given on savings accounts, a percentage to return on the bank's investments with the money.
Transfer of funds can be handled through written instruments: contracts, cheques, or direct transfers performed electronically. Nowadays banks provide the customers with additional ways of gaining access to their funds and using them. These are credit cards and account debit cards, electronic cash tills, computer on-line banking, and other services.
Automated clearinghouses perform similar services for business customers by handling regular payments, such as wages, for a company banking with the bank. Longer-term schemes for providing regular income on savings are often offered through trust funds or other investment schemes.
Lending and loans
Loans to bank customers are drawn on the funds deposited with the bank and yield interest, which provides the profits for the banking industry, and the interest on savings accounts. These loans may take the form of mortgages or other policies. Banks may guarantee credit for customers who wish to obtain loans from other institutions. They also provide foreign exchange facilities for individual customers, as well as handling large international money transfers.
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Vocabulary
safeguarding - охрана
transactions- сделки
to carry on - проводить
engaged - занятый
to provide - обеспечивать
mutual savings banks – взаимно-сберегательные банки
lending-предоставление кредита
facilitating-облегчение
loans-займы
creditworthiness – кредитоспосособность
acceptance - принятие
creation - создание
vaults - хранилища
to store - xpaнить
to insure – страховать
theft - кража
to repay – возместить
valuables - ценности
profitable - выгодный
interest - процент
percentage return – доход в виде процента
gaining access – получение доступа
account debit cards – карты дебета счета
electronic cash till - банкомат
computer on-line banking – компьютерные онлайновые расчеты между банками
payments - платежи
income - доход
savings - сбережения
are drawn on – снимаются с
mortgage - ипотека
policies- полисы
facilities – средства
handling – обработка
III. Give English equivalents for the following.
Для этих целей, обмен денег, другими словами, в большинстве случаев, обанкротиться, хранить деньги в банке, при помощи документов, предлагать другие способы, получать доступ, предоставлять подобные услуги.
IV. Insert the missing words given in brackets.
a. Banking is the transactions carried on by any person or firm engaged in… to consumers or businesses.
b. Banking … safeguarding and transfer of funds, lending or facilitating loans, guaranteeing creditworthiness and exchange of money.
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c. These physical deposits are in most cases insured against them and against the bank … and unable to repay the funds.
d. Transfer of funds can …: contracts, cheques, or direct transfers performed electronically.
5. They also … for individual customers, as well as handling large international money transfers.
(to handle through written instruments, to consist of , provide foreign exchange facilities, to be bankrupt, to provide financial services)
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