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!!!!!Англійська мова для спеціальностей Економі...doc
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Active Words and Phrases:

money supply

грошові ресурси

savings & loan shares

частка заощаджень та позики

currency

валюта

purchasing power

купівельна спроможність

demand deposits (checking accounts)

вклад у банку

unit of account

розрахункова грошова одиниця

interest

банківський процент

medium of exchange

засіб обміну

withdraw cash

забирати гроші готівкою

nondecimal unit of account

недесяткова грошова одиниця

notify a bank

сповіщати

decimal system

десяткова система

deposits of mutual savings banks

вклади в ощадному банку

Ex. III. Comprehension questions:

  1. What are the major components of Money Supply 1, 2?

  2. What is a major characteristic of time and savings deposits?

  3. What is the real value of money?

  4. What are the functions of money?

  5. What is the local unit of account?

  6. Read the list of foreign units of account and complete it with other world currencies:

US dollar, Euro, Russian rouble, Poland zloty, British pound sterling, Turkish lira…

Ex. IV. Count the exchange rate between the above units of account and Ukrainian currency.

Example: There are about five hryvnias to the US dollar.

Ex. V. Read about the types of Bank Accounts and compare them with the Ukrainian Banking System. Use the underlined words as starting points for a discussion.

A current account is convenient for anyone who thinks they are likely to overdraw their account (overdraft is the term in this case). At most banks, the setting-up of an account is free of charge, only a small fee is charged if you actually keep to the credit zone agreed upon.

A deposit account makes saving simple, convenient and safe whether you are saving for some things in particular or for a rainy day. Every half of a year interest is added to your account. You can have all or part of your savings back in cash.

A savings account matches your individual needs. You may have a lump sum of interest or you may want to save on a regular basis. High interest rates are ideal, but do you need instant access to your money? Long term growth is attractive, but so is a regular income. In Western countries there are cash dispensers through which most banks can offer cash at the touch of a button, 24 hrs a day, from which you can withdraw money as long as you have enough money in your account.

A check book as well as a paying-in book are available on request. To help you track the money, most banks send a quarterly statement.

If you are looking for a fixed rate and a fixed term, the investment account is most suitable. The minimum investment with some banks is rather high, up to $3,000. You can choose to invest for one, three or six months. At the end of the term you have three options:

  • you can invest both the original sum and the interest for another fixed term;

  • the bank automatically re-invests the original sum and transfers the interest to another account;

  • you simply withdraw your deposit along with your interest.

All banks issue cheque books and pay-in books as well as cheque cards free of charge.