Understanding the details

1. Reading tasks

Answer the following questions:

1) Do you agree that great attention should always be paid to strength and durability of the building constructive parts, even when it is not necessarily the construction of a nation's project?

2) Do you personally like the building of the present NBU? Explain, why?

3) Do you happen to hear anything about the existence of that rose garden nowadays?

4) Do you agree that it is reasonable to tie compositionally any structures to the neighboring houses?

5) Due to its high artistic merits, this structure is one of the best Kyiv buildings of XX-th century, isn't it?

6) Passing by the premises of the NBU, do you sometimes find a few minutes to admire this unique creation of human hands?

2. Agree or disagree

1) Only in rare occasions t some reconstruction work does not interfere with a building's integrity and proportional unity.

2) The premises were to be planned as large as to meet bank's requirements for at least 20 years.

3) In winter, the air was heated by heating system, in summer; the air was cooled when passing through cold underground corridors.

4) The architects never thought of working in a team designing the premises of the Bank.

5) The principles of the construction and designing processes, developed by a special Commission were rather reasonable and sound.

3. Prepare a brief presentation on sound approaches and principles of construction work of nationally important projects text b

Before you read

Answer the following questions:

1) Has the NBU been always a central bank of Ukraine?

2) What are possible functions of the nbu?

3) Do you happen to know any laws regulating the performance of the NBU?

4) Do you think the NBU is controlled by the Verkhovna Rada or by the Cabinet of Ministers? Other suggestions?

5) Do you remember the most important functions of Bank of England and the Federal Reserve Bank? Is the NBU similar to them?

The national bank of ukraine

The evolution of the national banking system in Ukraine started in March, 1991, after the adoption of the Law of Ukraine "On Banks and Banking" by the Ukrainian Verkhovna Rada. The Ukrainian banking system is a two-tier structure consisting of the National Bank of Ukraine and commercial banks of various types and forms of ownership including the state-owned Export-Import Bank and a specialized commercial Savings Bank.

Legal Status and Functions of the National Bank of Ukraine. Legal status, principles of organization and activities of the National Bank of Ukraine are determined by the Constitution of Ukraine and the Law of Ukraine "On the National Bank of Ukraine".

The National Bank of Ukraine is a legal entity with separated property, which is the object of the state property. Its authorized capital amounts to UAH 100 million and is the state-owned property which is in the full economic competence of the National Bank.

According to Article 99 of the Constitution of Ukraine, adopted in 1996, the main function of the country's central bank is to ensure stability of monetary unit-the Hryvnia. To carry out its main function, the National Bank shall foster the stability of the banking system and, within its competence, the price stability.

According to the Law of Ukraine "On the National Bank of Ukraine", the National Bank is the central bank of Ukraine, a specific central body of the state administration, its issuing center which pursue common state policy in money circulation, credit, strengthening of monetary unit; it coordinates functioning of the banking system in general; determines exchange rate of the monetary unit against foreign currencies. The National Bank determines a kind of bank notes, their denomination, distinctive features and their protection system. The National Bank of Ukraine ensures the accumulation and custody of the gold and currency reserves and the conduction of transactions with them and the banking metals. The National Bank of Ukraine sets up the order of determining a discount rate and other interest rates; it gives permission for commercial banks' registration and licenses banking business; determines the standard of emergency funds for commercial banks and other financial and credit institutions.

Main Function. According to the Constitution of Ukraine, the main function of the National Bank is to ensure the stability of Ukraine's monetary unit. To carry out its major function, the National Bank shall foster the stability of the banking system and within its competence, the price stability. The National Bank of Ukraine serves as the country's central bank which pursues a uniform state monetary policy to ensure the national currency stability.