МОУ ВПО «Институт права и экономики»

Контрольная работа № 5

по английскому языку

студента 3 курса экономического факультета ДО

Ф.И.О. ___________________________

Группа ______________

1. Read the text and do the following assignments:

Banks and Law

(1) The Bank of Russia has responsibility for regulation of the banks that currently operate in the Russian Federation. This regulation is expressed mostly through the granting and revocation of bank licenses. In addition, Russia has the right to apply the following sanctions to credit institutions: (1) to impose a fine, (2) to appoint temporary administration, (3) to ban certain types of licensed operations, and (4) to require the reorganization of the credit institutions. The Bank of Russia also grants licenses to non-bank financial institutions for the movement of capital. There are more than 1000 commercial banks authorized by the Bank of Russia to perform foreign currency transactions.

(2) No specific bank secrecy laws exist relating to the confidentiality of the relationship between a bank and its customers and their transactions; however, there is a general article on bank confidentiality as part of the law on banking activities.

(3) The Bank of Russia does not have supervisory authority over offshore banks operating outside Russia that do business with Russians. Examples of this can be banks registered in Cyprus and the Baltic states that advertise in Russian newspapers. The Bank of Russia monitors these banks and provides information to law enforcement agencies in the event of questionable activities.

(4) There is no legal division of banks into types, such as commercial banks, savings banks, etc. The following financial institutions operate in Russia: banks, currency exchanges, stock brokers, insurance companies, credit card companies, casinos, travel agencies and some others.

2. Match the English and Russian lexical units:

1. customer

2. supervisory authority

3. responsibility

4. article

5. apply

6. provide

7. grant

8. authorize

9. relationship

10. revocation

11. ban

12. currency exchange

1. предоставлять

2. давать право, уполномочивать

3. отмена, отзыв, аннулирование

4. родственник

5. запретить

6. артикль

7. ответственность

8. применять

9. полномочие надзора (наблюдательное полномочие)

10. отношение

11. премия

12. пункт обмена валюты

13. клиент

14. статья

15. представлять

16. текущий обмен

1	2	3	4	5	6
7	8	9	10	11	12

3. Cross out the lexical units that do not refer to bank operations:

operate, bank license, grant, credit institutions, customer, savings, temporary administration, banner, monitor, confidentiality, sanctions, fine, currency transactions, customs, ban.

4. Match the beginnings and endings to make up complete sentences:

1. In Russia there are no secrecy laws…

2. Offshore banks outside Russia…

3. All banks currently operating in the Russian Federation…

4. Many offshore banks outside Russia…

5. The granting and revocation of bank licenses…

6. Over 1000 commercial banks in Russia…

7. The Bank of Russia can apply…

8. To move capital, non-bank financial institutions…

   1. numerous sanctions to credit institutions.

   2. must be granted licenses by the Bank of Russia.

   3. perform foreign currency transactions.

   4. do business with Russians.

   5. are effective tools of regulating the banks’ activity.

   6. are regulated by the Bank of Russia.

   7. are not supervised by the Bank of Russia.

   8. relating to the confidentiality of a bank’s relationship and its customers.

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