Vocabulary Bank

service	услуга, обслуживание
current account	текущий счет
to extend to	оказывать (покровительство, внимание)
to regard	считать, рассматривать
reliable	надежный, заслуживающий доверия
to prove	оказываться, доказывать
free of charge	бесплатно
to pay out	выплачивать
deposit account	депозитный счет
to withdraw	изымать, отзывать
savings account	сберегательный счет
purpose	цель
foreign exchange	иностранная валюта
foreign exchange transactions	сделки с иностранной валютой
bill of exchange	вексель
discounting bills of exchange	учет векселей
dispenser	раздаточное средство, автомат
cash dispenser	автомат для выплаты наличных
automated teller machine	автоматическая кассовая машина
safe custody	хранение банком ценностей клиентов

Exercises

1. Answer the following questions.

1. What do bankers' services cover today?

2. What does a full list of bankers services include?

3. A cheque book is issued free of charge, isn't it?

4. What account do companies and individuals use, when their deposit cash resources are not needed at present?

5. When can companies and individuals withdraw the money?

6. What account enables small savers to put money away for particular purposes?

7. What services of banks do you know?

2. Give the comparative and superlative degrees of the following adjectives.

Enormous, reliable, satisfactory, expensive, convenient, normal, difficult, careful, dangerous, cheap, good, extraordinary.

3. Translate the following sentences into English.

1. Давай пойдем в банк, я хочу открыть текущий счет.

2. Сбербанк считает всех своих вкладчиков надежными клиентами.

3. Мне нужна большая сумма денег, завтра я сниму ее с моего счета.

4. Где находится пункт обмена валюты?

5. Сберегательный счет предназначен для накопления денег для определенных случаев, например, для отдыха.

6. Чтобы снять деньги со своего счета, ты можешь использовать автомат для выдачи наличных.

7. На данный момент в нашем городе существует большое количество банков.

Unit 26. Federal reserve system of the usa

The Federal Reserve System is the central banking system of the United States of America, set up by the Federal Government in 1913. On account of the vast area of the country and the greater difficulties of travelling at that time, the country was divided into twelve Federal Reserve Districts (FRD), each with its own Federal Reserve Bank (FRB):

1) Boston; 7) Chicago;

2) NewYork; 8) St. Louis;

3) Philadelphia; 9) Minneapolis;

4) Cleveland; 10) Kansas City;

5) Richmond; 11) Dallas;

6) Atlanta; 12) San Francisco.

There are also twenty-five branches of the FRBs to serve particular areas within each district. The activities of the FRBs are coordinated through the Federal Reserve Board of Governors in Washington. The Board exercises general supervision over the FRBs.

The FRBs hold the reserves of the member banks, i. e. the commercial banks which are members of the Federal Reserve System. The FRBs supply the member banks with currency if necessary and act to them as lenders by rediscounting bills. The Board determines the reserve requirements of the commercial banks. The Board too really determines discount rates. The Board discount rate corresponds in nature to the English Bank rate, though the Federal Reserve Banks do not always have the same discount rate.

The Federal Reserve System, in collaboration with the Government of the USA, determines monetary policy and, aided by the FRBs, carries it out.

All national banks must be members of the Federal Reserve System. Incorporated state banks including commercial banks, mutual savings banks, trust companies and industrial banks may also join the System.

Incorporated state banks are those which have a charter from the state to act as an individual.

Mutual savings banks are savings banks owned by their depositors. Industrial banks make loans for the purchase or manufacture of industrial products.