At the Bank

Mr. Stock Good morning. I should like to open an account if I may.

Clerk If you’d like to take a sеat, I’ll see if the manager’s free. Could you step this way please, sir?

Mr. Stock Thank you. Good morning. My name’s Stock. I’ve just arrived in this country and I’m staying for a couple of years.

Bank Manager I see.

Mr. Stock Actually, I’ve got a job with General Machines and my salary’d be paid monthly straight into my account.

Bank Manager Oh, that’s interesting. Quite a lot of your chaps bank with us.

Mr. Stock Yes, as a matter of fact, I’ve been recommended to you by Mr. Hopkinson.

Bank Manager Oh yes, that’s excellent. Have you something to open the account with now?

Mr. Stock Yes, I’ve got all these unused Travellers’ Cheques.

Bank Manager Fine. If you’d just fill in this form in the places I’ve marked.

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Mr. Stock Right.

Bank Manager The specimen signature’s particularly important. While you’re doing that, I’ll get you a temporary cheque-book.

Mr. Stock Thank you.

Bank Manager There are only ten here, but in the next couple of days or so we’ll have a proper one printed out.

Mr. Stock I see.

Bank Manager By the way, do you want them open or crossed?

Mr. Stock Grossed, I think.

Bank Manager Yes, that’s very wise. It’s a useful safeguard. Would you like to cash a cheque now, Mr. Stock?

Mr. Stock No, thanks very much. I’m all right for the present.

Bank Manager We’ll credit these Travellers’ Cheques then. Let’s see. It’s £ 200, isn’t it? Yes, well, you can draw when you like.

Mr. Stock Well, I must say you’ve been very helpful, Mr-er-er …

Bank Manager Winters.

Mr. Stock Right, then, thanks very much, Mr. Winters. Goodbye.

Unit 8. Banks and banking in ukraine

Key Words and Phrases:

1. law – закон 2. legal basis – правова основа 3. the National Bank of Ukraine – Національний банк України 4. the Prominvest Bank of Ukraine – Промінвестбанк України 5. the Savings Bank of Ukraine – Ощадний банк України 6. commercial banks – комерційні банки 7. any types and forms of property – будь-який тип та форма власності 8. legal entity – юридична особа 9. issuing centre – емітент, емісійний центр

10. money turnover – грошовий обіг 12. monetary unit – грошова одиниця 13. precious metal – дорогоцінний метал 14. liquidity – ліквідність 15. be supervised – знаходитися під наглядом 16. subject of economic activity – суб’єкти економічної діяльності 17. cash and settlement services – готівкові та розрахункові послуги

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Read and translate the text:

The Law of Ukraine “On Banks and Banking Activity” adopted in 1992 determined the legal basis of banks and the main principles of their activity. The banking system of Ukraine has two levels and consists of the National Bank of Ukraine and commercial banks, including the Prominvestbank Bank of Ukraine, the Savings Bank of Ukraine, and other commercial banks of any types and forms of property.

The National Bank of Ukraine is a legal entity owned by Ukraine. It is accountable to the Verkhovna Rada of Ukraine. The NBU is the central bank of Ukraine, its issuing centre. It carries out the uniform state policy in the sphere of money turnover, credits, strengthening the monetary unit of the country – the hryvnia. The NBU keeps reserve funds of banknotes, pecious metals and gold, and currencies. The NBU is a final provider of liquidity to the system.

Commercial banks are supervised by the NBU. They provide credits to subjects of economic activity and citizens, provide the national economy with cash and settlement services. They perform investment and trust operations and offer consulting services.

Exercises in Reading and Comprehension.