Translate the following text from English into your own language. Annual account summaries have failed to spur banking competition and the use of text messages and mobile device apps is more effective in changing behaviour

Annual account summaries have failed to spur banking competition and the use of text messages and mobile device apps is more effective in changing behaviour of Britain's middle classes, a top financial regulator said on Wednesday.Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), announced new research showing that annual summaries had failed to persuade more people to switch banks and said the watchdog is now looking at new ways to increase the impact of information provided by banks to their customers."Statistical analysis ... shows that annual summaries have no influence at all on consumer behaviour in terms of avoiding overdraft charges, improving balance levels or prompting switching between providers," Wheatley said in a speech in Scotland.However, text alerts and mobile banking apps seem to reduce the amount of unarranged overdraft charges incurred by customers, he added."The other great advantage seems to be that text alerts and banking apps also encourage customers to shift their balances from no, or low, credit interest accounts," Wheatley said.Analysis showed it was typically middle-aged consumers with higher incomes who tend to pay the most overdraft charges, switch the least and, in turn, benefit most from text alerts and mobile device apps."This is not just a low-income policy challenge, although the personal impact here on poorer consumers will clearly be felt more keenly. Overdraft charges are actually affecting swathes of middle-Britain," Wheatley said.The research will be used by the FCA to shape future policy.

5. Fill each of the blanks in the following text. Use one word only in each space. Financial futures Futures trading is spreading worldwide

A financial futures contract is an agreement to buy or sell, on an organized exchange, a standard quantity of a specific financial instrument or foreign currency at a future date. The price has to be (1) ______ between the two parties. Although contracts are traded between (2) _______ and seller on an exchange floor, these brokers do not have an obligation to each other, (3) ________ to a clearing house. This ensures that the futures market is free from credit (4) ________ to a large extent. Growth in (5) ______ futures trading has (6) ________ enormous since it (7) _______ in the United States in 1972. Financial futures have (8) _______ increasingly popular since then. Financial futures can (9) ______ traded by people willing to assume price risk and (10) ______ to profit from the rises or (11) ______ they expect to occur in interest rates or the share (12) ______. Financial futures offer opportunities for the control of interest rate risk which are not possible in the cash market.

GRAMMAR ZONE

Choose the correct alternatives to complete this summary of the text.

Britain is/isn’t a member of the EU, but a lot of British people feel that their country is quite separate from/similar to the rest of Europe. The metric system of currency/measurements has been used in Britain since the 1970s, but many Britons especially older/younger people, prefer to use the old imperial system. Food sold in Britain is usually priced using both types of measurement, but it is legal/illegal to price products using imperial measurements only. Britain uses the euro/pound as its currency, like/unlike all of the other counties in the EU. A date for a referendum in the UK on the euro has already/hasn’t yetbeen fixed.

Rewrite as one sentence using a relative clause.

Ex: My friend, Simon, plays the guitar. He has just released a CD.

My friend, Simon, who has just released a CD, plays the guitar.

1. The euro replaced a number of national currencies. It was introduced in 2002.

2. Private Banks have a lot of power in the world of economy. That annoys some people.

3. The bank tried to persuade me to put my money into a share. It lost everything when it collapsed.

4. My old aunt Jessie is very generous person. Every time I go to see her she gives me £100.

5. Most students have to take evening or weekend jobs. They made an insurance claim.

Read the text and rewrite the sentences in passive constructions.

Kazakhstan & the WTO

1. As Kazakhstan is not yet a member of the WTO, bilateral or autonomous agreements govern trade in a certain number of key products between the EU and Kazakhstan.

2. In November 2011, the EU and Kazakhstan opened the negotiations of a new, enhanced Partnership and Cooperation Agreement replacing the 1999 Partnership and Cooperation Agreement, with the aim to further strengthen the bilateral relations.

3. The enhanced agreement, once concluded, will bring about better conditions for the trade and investment relations between the two parties.

4. Since the expiry of the EC-Kazakhstan steel agreement at the end of 2006, autonomous measures have based on the bilateral trade in steel.

5. Once signed, a new agreement will replace these measures.

6. Following the expiry of the EC-Kazakhstan textiles agreement at the end of 2004, the two sides concluded an additional Protocol to the existing Partnership Co-operation Agreement, thus extending its provisions on trade in textiles established in 2006.