Safeguarding and transfer of funds

2. Vaults and safes are the means for safeguarding of funds. Money is physically stored there. These physical deposits are in most cases insured against theft, 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 receive interest given on savings accounts, a percentage return on the bank's investments with the money.

3. Transfer of funds can be handled through a 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 clearing houses 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

4. 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.

Vocabulary

transactions — сделки

to carry on — проводить

engaged — занятый

to provide — обеспечивать

safeguarding — охрана

lending — предоставление кредита

facilitating — облегчение

loans— займы

creditworthiness — кредитоспособность

acceptance — принятие

transfer — передача, перевод

creation — создание

deposits — депозиты

vaults — хранилища

to store – хранить

to insure - страховать

theft — кража

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

новые расчеты между банками

clearing houses — расчетные палаты

payments — платежи

income — доход

savings — сбережения

are drawn on — снимаются с

yield — доход

mortgage —ипотека

policies —полисы

facilities —средства

handling — обработка

V. Ответьте на вопросы письменно.

1. What is banking?

2. What kinds of banks there exist?

3. What are the vaults and safes for?

4. Why is it profitable to save money in banks?

5. What are loans to bank customers drawn on?

ВАРИАНТ 5

1. Перепишите следующие предложения; подчеркните в каждом из них глагол-сказуемое и определите его видо- временную форму и залог. Переведите предложения на русский язык. В разделе (б) обратите внимание на перевод пассивных конструкций.

а) 1.The company is gaining more customers.

2. The output has increased 2% as compared with that last year.

6) 1.I don’t know what guarantee is usually granted in similar cases.

2. The reform of property relations had been realized successfully.

II. Перепишите следующие предложения; подчеркните Participle I и Participle II и установите функции каждого из них, т.е. укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1. There are so many risks for all the businessmen involved.

2. Thus, in pursuing its profit goal, the firm must establish a comparable measure of value between present and future monetary returns.

3. Based on these figures, the economists forecast interest rates recession this fall.

4. The US has long regarded itself as a natural role model for other countries.

III. Перепишите следующие предложения; подчеркните в каждом из них модальный глагол или его эквивалент; предложения переведите.

1. They have to search high and low to find a better speaker.

2. Lack of knowledge may result in imperfect competition.

3. Could they fulfil their plans earlier?

4. They are to start the construction soon.

IV. Прочитайте и письменно переведите текст.

Credit

1. Credit is a term used to denote transactions involving the transfer of money or other property on promise of repayment, usually at a fixed future date. The transferor thereby becomes a creditor, and the transferee becomes a debtor. Hence, credit and debt are simply terms describing the same operation viewed from opposite sides.

2. The principal classes of credit are the following:

- commercial credit, which merchants extend to one another to finance production and distribution of goods,

- investment credit, used by business firms to finance the acquisition of plant and equipment and represented by corporate bonds, long-term notes, and other proofs of indebtedness,

- bank credit, consisting of the deposits, loans, and discounts of depository institutions.

3. - consumer or personal credit, which comprises advances made to individuals to enable them to meet expenses or to purchase, on a deferred-payment basis, goods or service for personal consumption.

- real-estate credit, composed of loans secured by land and buildings.

- public or government credit,represented by the bond issues of national governments.

- international credit,which is extended to particular governments by other governments, by the nationals of foreign countries, or by international banking institutions, such as the International Bank for Reconstruction and Development.

4.The principal function of credit is to transfer property from those who own it to those who wish to use it, as in the granting of loans by banks to individuals who plan to initiate or expand a business venture. The transfer is temporary and is made for a price, known as interest, which varies with the risk involved and also with the demand for, and supply of, credit.

5. The use of credit also makes feasible the performance of the complex operations involved in modern business without the constant handling of money. Credit operations are carried out by means of documents known as credit instruments, which include bills of exchange, money orders, cheques, drafts, promissory notes, and bonds.

Vocabulary

transactions — сделки

transfer of money — передача денег

promise of repayment — обещание выплаты

transferor — цессор (дающий)

transferee — цессионарий (получающий)

debtor — должник

to extend — зд. предоставлять

acquisition — приобретение

granting — предоставление

idle — бездействющий

enabling — позволяя