10.2Comparethepercentagesinthetablewithyours.Tellaboutyourownweeklyexpenditure.

11.Reading.Readthetextandexplainthewordsinbold. ABank

Abankisafinancialinstitutionlicensedbyagovernment.Itprovidesfinancialservicestocustomersenrichingitsinvestors.

Banksactaspaymentagents.Theyconductcheckingorcurrentaccountsforcustomers,paychequesdrawnbycustomersofthebank,

andcollectchequesdepositedtocustomers'currentaccounts.

Banksborrowmoneywhentheyacceptfundsdepositedoncurrentaccountsoraccepttermdeposits.Theyalsoissuedebtsecuritiessuchas

banknotesandbonds.

Bankslendmoneybymakingadvancestocustomers,orinstallmentloans.Theyinvestinmarketabledebtsecuritiesandotherformsof

moneylending.

Banksprovidealmostallpaymentservices.

Theprincipaltypesofbanksinthemodernindustrialworldarecommercialbanksandcentralbanks.Commercialbanksacceptdepositsfromthegeneralpublicandmakeloanstoindividualsandbusinessesandsometimestogovernments.Centralbanks,incontrast,dealmainlywiththeirnationalgovernments,withcommercialbanks,

andwitheachother.Centralbanksissuepapercurrencyandareresponsibleforregulatingcommercialbanksandnationalmoneystocks.Centralbanksoperateforthepublicwelfareandnotformaximumprofit.

Thereareinstitutionswhicharealsocalledbanksbuttheydon’t

performallbankingfunctions.Theyareclassifiedasfinancialintermediaries.Suchinstitutionsincludefinancecompanies,savings

banks,trustcompanies,insurancecompaniesandsoon.

Vocabulary

paymentagent–посредниквплатежах

checking–контроль,проверка

termdeposit–срочныйвклад

debtsecurities–ценныебумаги–долговыесвидетельства

bond–долговоеобязательство,облигацияinstallmentloan–кредитсплатежомврассрочкуnationalmoneystock–государственныезапасыденегfinancialintermediary–финансовыйпосредник

savingbank–сбербанк

trustcompany–трастоваякомпания

insurancecompany–страховаякомпания

12.GiveRussianequivalents:

financialinstitution

currentaccounttoissue

tomakeadvances

marketable

tolendmoneytomakeloans

papercurrency

publicwelfare

13.Choosewordsfromthelisttofillinthegaps,thenusethemtomakesentences:

debt,current,payment,installment,financial,term

1. account

2. deposit

3. loan

4. securities

5. agent

_{6. service}

14.Answerthequestions:

1.Whatisabank?

2.Whatfunctionsdobanksperform?

3.Whataretheprincipletypesofbanks?

4.Whatisthedifferencebetweencentralbanksandcommercialbanks?

5.Whatinstitutionsarecalledfinancialintermediaries?

15.Makenotesunderthefollowingheadings:ABank,The

PrincipalTypesOfBanks,FinancialIntermediaries.

16.Closeyourbooks,lookatyournotesantalkabouteconomy.Usewords/phrasesfromthelisttohelpyouretellthetext:financialinstitution,provide,conduct,borrowmoney,issue,lendmoney,makeloans,papercurrency,financialintermediaries.

Unit2 Makingmoney

1.Lookthewordsintheboxinthedictionary.Completethetextbelowwiththem.

shares,shareholders,worth,stake,spend,earn,owe,save,dividend,tax,pay,StockMarket

Meandmymoney

_{WhenIwaseighteenIinherited£1000frommygrandmother.I}

_{investedhalfofthemoneyonthe}

_{andtherestIputinthe}

_bank.Ibought

_inthree

_{differentcompaniesandeachone}

paysmea

_{Ialsohavea20%}

everyyear.

_{_in}

asmallcompanystartedbyafriendofmine.Therearefour

_other

_{in the}

company.Ihaveasmallhousein

London.Itisprobably

£250,000 now. I borrowed

£100,000fromthebankwhenI

_{boughtit.Iworkasanaccountantand}

_{_areasonablesalary,}

butIhavetopayalotof

_{moneyformystudiesandIstill}

.Myfathergavemequitealotof

_{himabout£5,000.I}

himbackabout£100amonth.I

_{favoritesport,skiing,butIalsoliketotryand}

alotofmoneyonmy

_formyoldage.