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3. Fill in the gaps with the words and expressions from the text

1. A financial intermediary is an institution that specializes in __.

2. A commercial bank __ money from the public, __ them with a deposit, which is __ of the bank.

3. As liabilities are used as __, and are part of __.

4. Commercial banks are __ with a government licence to __ an ___.

5. The clearing banks are so named because they have __ for __.

6. A clearing system is a set of __ in which __ between banks are __ .

7. Lloyds presents the cheque to Barclays, which will __ Lloyds' account at Barclays and __ your account at Barclays by __ amount.

8. Because you purchased goods from a supermarket using __, __ between the two banks is required.

9. Barclays then __ into its account at Lloyds where this person's account is __.

10. The clearing system calculates __ between the member clearing banks, thus representing another way society __ of making transactions.

11. Modern banks' __ include notes and coin in the banks' vaults and their __ deposited with __.

12. The other entries on the asset side of __ show money that has been __ or used to purchase __.

13. The second item, __, shows __.

14. Money itself is thus __ asset of all.

15. The third item, __, shows lending to ___.

16. Although advances represent __ of clearing bank lending, they are not of bank lending.

17. The fourth item, __, shows bank purchases of __, which can be __ or __.

18. Although these assets are traded daily on __, their price __ from day to day, hence financial investment in securities is also __.

19. Deposits are chiefly of two kinds: __ and __.

20. Whereas __ can be withdrawn __ whenever the depositor wishes, without giving the bank __, a minimum __ must be given before __ can be __.

21. Whereas most banks do not pay interest on __ or __, they can afford to pay interest on __.

22. Since they have notification of any withdrawals, they have plenty of time to sell of ___ or call in __ in order to have the money to pay out deposits.

23. CDs are an __ form of __ where the bank borrows from the public for __ and knows exactly when __.

4. Increase your vocabulary

Prepositions

to borrow from; to purchase from

to bank with; to deposit with

to credit with; to lend to

to take in; to call in loans

to write a cheque against a deposit

to pay the cheque into account

an account at a bank

Make sentences of your own using these phrases.

5. Find in the text English equivalents for the following

фінансовий посередник; банківські пасиви; страхова компанія; пенсійний фонд; будівельне суспільство; надавати позички; відкрити депозит; довірчий ощадний банк; кліринговий банк; центральна розрахункова палата; кредитувати рахунок; дебетувати рахунок; переказ суми грошей (фондів); одержувач чека; банк - член розрахункової палати; балансовий звіт; активи; грошові активи; касовий резерв; короткострокові позички; переводити в гроші; авансова позичка; цінні папери; урядові облігації; акції якої-небудь промислової компанії; фондова біржа; неліквідний; інше майно; безтерміновий вклад (депозит до запитання); відзивати внесок по пред'явленні; строковий вклад; не попереджаючи заздалегідь; поточний (чековий) рахунок; виплачувати відсотки; депозитний сертифікат

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