6. Make up sentences putting the words in the correct order.

1. Supply, an, is, amount, available, of, goods.

2. Inflation, rise, is, a, in, the, of, goods, prices, services, and.

3. The, System, Reserve, Federal, agency, is, of, an, Congress.

4. Stabilizing, banking, function, the, system, second, of, is.

5. The, performs, FED, functions, three, major.

6. Check, clearing, the, important, most, is, function, of, the, FED.

7. Using the definition of the term “bank” and additional words to the definition describe the function of the bank.

Bank is a business organization that performs financial transaction – receiving and having deposits, paying sums out of them by order of the customer, lending money to individuals and organizations at interest, moving money from place to place, etc.

Deposit (money) with/pay (money) into/withdraw (money) from a bank; commercial/correspondent/private bank;

investment bank;

arrange a mortgage (закладна, іпотека) with the bank.

8. Give derivatives of:

important adj intervene v choose v tend v

national adj independent adj maintain v represent v

function n governor n finances stability n

supervise v executive adj deposit n progress n

9. Think of the verbs that are most commonly used with:

money supply, exchange rate, banknotes, safety, requirements, powers, bank reforms, inflation, operations, restrictions.

10. Think of the nouns that are often used with:

to implement, to supervise, to issue, to influence, to ensure, to stabilize, to set up, to lend, to regulate, to strengthen, to exempt.

11. Match the verbs from (a) with the nouns from (b) below:

a) to deposit b) ratios

to impose targets

to fix function

to appoint chairman

to perform money

to control circulation

to clear checks

to maintain accounts

12. Choose antonyms or synonyms for the words underlined.

1. The central banking system is a major sector of any modern monetary system.

a) antiquated b) contemporary

2. It is of great importance to the fiscal policy of the national government and the functioning of the private sector.

a) non-state b) state

3. In the course of market reforms in Ukraine the Central Bank has been pursuing moderately tight monetary policy aimed at further reduction of inflation and putting an end to direct budget deficit crediting.

a) increase b) restriction

4. The most important service of the Fed is check clearing, i.e. making sure that checks written on one bank can be accepted at any other bank in the country.

a) guarantee b) inadequate safeguards

5. It also provides safekeeping for securities.

a) managed account b) simple documents

13. Single out the main points of the text. Use the following opening phrases:

The text looks at (the problem of…)

The text deals with the issue of..

It is clear from the text that…

Among other things the text raises the issue of…

The problem of…is of great importance

One of the main points to be singled out is

Great importance is also attached to…

In this connection, I’d like to say…

It further says that…

I find the question of…very important because…

We shouldn’t forget that…

I think that…should be mentioned here as a very important…mechanism of… .