
- •Ian MacKenzie
- •Introduction
- •10 Introduction
- •Vocabulary notes
- •Vocabulary notes
- •Vocabulary notes
- •Depositors 6 repealed
- •1 1 Underwriting
- •Regulation
- •Prohibited
- •Vocabulary note
- •Vocabulary note
- •Vocabulary note
- •... Use (using) our night safe or our automated deposit machine instead of taking the money home.
- •Increase in operating expenses: 10,52?
- •The reason for our meeting today is...
- •I think we’re getting sidetracked here.
- •Thank you Robin, that was very useful.
- •Implications of this possible move.
- •Introduction 8
- •Vocabulary note
- •Find ?do 8 put 9 look after 10 come to
- •Vocabulary note
- •Neutral
- •3Ackgr0und: foreign exchange
- •Introduction
- •Feel.... I believeI have the feeling....
- •Introduction
- •My presentation will be in four parts.
- •In the first part I’ll talk about...
- •Vocabulary 1 answers
- •Other banks they regularly deal with.
- •Ian MacKenzie
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10 Introduction
ope you enjoy using this book with your learners.
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1
he organization of the financial industry
2
pension
stocks, shares
BACKGROUND: THE FINANCIAL SECTOR
"ne financial sector [or the financial services industry) deludes the following areas, most of which are covered
о this book:
commercial banks, which receive customers' deposits and make loans
private banks, which manage the assets of wealthy individuals
investment banks, which advise and raise money for companies, 3nd sell and trade financial products
investment companies, which invest customers' money in funds and other companies
the money markets, in which financial institutions, companies and government bodies can borrow and invest in the short-term (loss than one year)
the currency markets, in which individuals and companies can buy and sell foreign currency
the stock market, where the stocks and shares of public companies are traded
the futures and derivatives markets, where these financial instruments are traded
the inter bank clearing system, in which financial institutions settle credits and debits among themselves
insurance companies, which offer financial protection against risks such as accidents, fire, theft, loss, damage, etc.
accounting and auditing companies, which examine companies’ financial records to make sure they are accurate and in accordance with the law
regulatory authorities, which ensure that financial institutions and markets comply with laws and regulations.
This unit outlines the recent history of the financial industry, and the way in which recent deregulation has fed to formerly separate financial organizations - commcrcial banks, investment banks, stockhroking houses, insurance companies, ctc. combining to form large financial institutions.
Lead in
The lead-in for each unit provides discussion questions as a way into the unit. Anyone old enough to study finance is likely to have a bank account. If you don't have any learners already working in financial institutions, the discussion may be less varied. However, learners could think about any changes they have noticed in recent years os bank customers.
As with nearly all the exercises and activities in this course (except those for small groups), this activity is probably best done in pairs, followed by a short discussion, or question and answer session, with the whole class. (If you are teaching one-to-one, try to elicit as much information as you can from your student.)
Vocabulary 1
As with many exercises in this book, learners can either do this in pairs or complete it on their own and then check their answers together when they've finished. There is an answer key in the Student's Book, but it would be a good idea to ask the learners not to consult it before you have elicited answers from the class.
ANSWERS
mortgage
deoosit
6 bonds ? takeover