1. Write out sentences in Passive Voice, underline subject and predicate, point out the tense

2. Answer the questions:

• What country has a greater land area than Canada?

• Where is Canada situated?

• Where did the first people come from?

• Whose discovery led to the European exploration of Canada?

• When and where did France set up a colony?

• When did the British emigrants come to Canada?

• When did Canada gain its independence from Britain?

• Why is the large part of Canada uninhabited or thinly populated?

• How many French Canadians live in the country?

• What is the capital of the country?

• What largest cities do you know?

• What does the country produce?

3. Read and translate the text «Commercial Banks in Russia» Words you may need:

Credit institution- кредитная организация Tangible assets- материальные активы Outside funds- привлеченные средства

Retained profit- нераспределенная прибыль

Placement operations- размещение средств

Russia has two-tier banking system and consists of the Central Bank of Russia (CBR) and commercial banks, which is typical of many countries in the market economy.

Banking in Russia is regulated by the Law on Banks and Banking in the Russian Federation. As to the CBR, it is constantly strengthening its regulatory and supervisory role. Banks can start operating only after they get registered and obtain a license from the CBR. Russian banking legislation provides for existence of banks and credit institutions. These credit institutions are only allowed to perform cash settlement operations, collect money and documents, buy and sell foreign currency.

Banks are run depending on the organizational and legal form of the banks. Banks with authorized capital made up of contributions, have the status of limited liability societies. The founders' contributions may be in the form of money, property and other tangible assets. A joint-stock bank forms its authorized fund by issuing shares. The governing body in a bank is a meeting of founders or shareholders. Between the meetings, this function is performed by the bank's council. They determine the bank's policy.

Day -to - day management is carried out by the board, which is an executive body. The board is headed by the President. The board members determine the bank's structure and functions of its departments.

Bankers' services cover an enormous range of activities today. All operations can be divided into active and passive. Passive operations are bank's resources consisting of a bank's own and outside funds, i.e. the authorized capital, the reserve and special funds as well as the retained profit. Active operations are placement operations aimed to get a profit and guarantee a bank's liquidity. They are cash, credit and investment operations.

Commercial banks are controlled by the Central Bank regularly for their capital adequacy, assets quality and liquidity.