- •Государственное образовательное учреждение высшего профессионального образования
- •«Хабаровская государственная академия экономики и права»
- •European Central Bank (1999) The Effects of Technology on the EU Banking Systems, Report, http://www.ecb.int./pub/pdf/other/techbnken.pdf.
- •The Economist (2003) “Banking in China: strings attached”, 6 March
- •European Central Bank (2002) Mergers and Acquisitions Involving the EU Banking Industry, Press release, December, http://www.ecb.int/press/pr/date/2000/html.
- •CHAPTER 1
- •The Role of Banks and Their Main Functions
- •1.1 Introduction
- •1.2 The nature of financial intermediation
- •Figure 1.1 The intermediation function
- •Lenders' requirements:
- •Borrowers' requirements:
- •Figure 1.3 Direct and indirect finance
- •Financial
- •Indirect financing
- •Financial
- •Intermediaries
- •Figure 1.4 Modern financial intermediation
- •Financial
- •Indirect financing
- •Financial
- •Intermediaries
- •1.3 The role of banks
- •a) Size transformation
- •b) Maturity transformation
- •c) Risk transformation
- •REVISION QUESTIONS
- •CHAPTER 2
- •Banking Services
- •2. Find out if there are credit card holders in your group and what for they use their cards.
- •3. What credit card systems do you know?
- •5. Discuss recent changes and trends in the banking system of your country.
- •2.1. Introduction
- •2.2 What do banks do?
- •2.3 Banks and other financial institutions
- •Figure 2.1 Classification of financial intermediaries in the UK
- •2.4 Banking services
- •2.4.1 Payment services
- •2.4.2 Deposit and lending services
- •2.4.4 E-banking
- •Box 2.2. New online banking and financial services delivery channels for large companies
- •Table 2.6 Bankinlsg services offered via branches and remote channels
- •Table 2.7 Foreign exchange online trading sites
- •Box 2.3. Is internet banking profitable?
- •2.5 Current issues in banking
- •2.5.1 Structural and conduct deregulation
- •2.5.2 Supervisory re-regulation
- •2.5.3 Competition
- •2.5.4 Financial innovation and the adoption of new technologies
- •2.6 Responses to the forces of change
- •2.6.1 Mergers and Acquisitions
- •2.6.2 Conglomeration
- •2.6.3 Globalisation
- •2.6.4 Other responses to the forces of change
- •Box 2.4 Focus on globalisation
- •CHAPTER 3
- •Types of Banking
- •3.1. Introduction
- •3.2 Traditional versus modern banking
- •Table 3.1 Traditional versus modern banking
- •3.2.1 Universal banking and the bancassurance trend
- •Figure 3.1 Bancassurance models
- •3.3 Retail or personal banking
- •3.3.2 Savings banks
- •3.3.3 Co-operative banks
- •3.3.4. Building societies
- •3.3.5 Credit unions
- •3.3.6 Finance houses
- •3.4. Private banking
- •Table 3.2 Best global private banks
- •3.5 Corporate banking
- •3.5.1 Banking services used by small firms
- •3.5.1.1 Payment services
- •3.5.1.2 Debt finance for small firms
- •3.5.1.3 Equity finance for small firms
- •3.5.1.4 Special financing
- •3.5.2 Banking services for mid-market and large (multinational) corporate clients
- •3.5.2.1 Cash management and transaction services
- •3.5.2.2 Credit and other debt financing
- •Short-term financing
- •Commercial paper
- •Euronotes
- •Repurchase agreements (repos)
- •Long-term financing
- •Syndicated lending
- •Eurobonds
- •3.5.2.3 Commitments and guarantees
- •3.5.2.4 Foreign exchange and interest rate services offered to large firms
- •3.5.2.5 Securities underwriting and fund management services
- •3.6 Investment banking
- •3.7 Universal versus specialist banking
- •CHAPTER 4
- •International Banking
- •GETTING STARTED
- •4.1 Introduction
- •4.2 What is international banking?
- •4.5 Types of bank entry into foreign markets
- •4.5.1 Correspondent banking
- •4.5.3 Branch office
- •Box 4.2 Canadian Imperial Bank of Commerce (CIBC) correspondent banking services
- •Source: Adapted from http://www.cibc.com/ca/correspondent-banking.
- •4.5.4 Agency
- •4.5.5 Subsidiary
- •4.6 International banking services
- •4.6.1.1 Money transmission and cash management
- •4.6.1.2 Credit facilities - loans, overdrafts, standby lines of credit and other facilities
- •4.6.1.3 Syndicated loans
- •4.6.1.4 Debt finance via bond issuance
- •Figure 4.2 Bond features
- •Bond characteristics
- •4.6.1.5 Other debt finance including asset-backed financing
- •4.6.1.6 Domestic and international equity
- •4.6.1.7 Securities underwriting, fund management services, risk management and information management services
- •4.6.1.8 Foreign exchange transactions and trade finance
- •Letters of credit
- •Forfaiting
- •Countertrade
- •4.7 Increasing role of foreign banks in domestic banking systems
Министерство образования и науки Российской Федерации Федеральное агентство по образованию
Государственное образовательное учреждение высшего профессионального образования
«Хабаровская государственная академия экономики и права»
Н. А. Петрова
Английский язык
Учебное пособие
для студентов 5-го курса специальности МЭ и аспирантов
“English for Banking and Finance”
Хабаровск 2008
2
ББК Ш 143.21
X 12
Английский язык : учеб. пособие для студентов 5 курса специальности МЭ и аспирантов / сост. Н. А. Петрова. – Хабаровск : РИЦ ХГАЭП, 2008. – 92 с.
Рецензенты : Т. Н. Лобанова, доцент каф. лингвистики и межкультурной коммуникации ТОГУ, канд. пед. наук; В. В. Васюк, завкафедрой английской филологии ДВГГУ, доцент, канд.филолог. наук.
Утверждено издательско-библиотечным советом в качестве учебного
пособия
Учебное издание
Английский язык Учебное пособие
для студентов 5-го курса специальности МЭ и аспирантов
“English for Banking and Finance”
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© Хабаровская государственная академия экономики и права, 2008
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ПРЕДИСЛОВИЕ
Учебное пособие «English for Banking and Finance» составлено для студентов старших курсов экономических специальностей, а также аспирантов в рамках программы обучения иностранному языку для специальных целей (English for Specific Purposes) и является учебным материалом по изучению экономической, банковской и финансовой терминологии на английском языке.
Основу данного пособия составляют аутентичные тексты из различных источников, которые отличаются актуальностью освещаемых в них тем,
информативностью, чёткой профессиональной направленностью и терминологической насыщенностью. Они полезны как в языковом отношении, так и с точки зрения их общеобразовательной ценности, особенно для будущих специалистов в сфере экономики, финансов и международного бизнеса.
Включённые в пособие тексты и упражнения нацелены на развитие коммуникативных навыков и активизацию у студентов знаний, полученных ими при изучении специальных дисциплин, что значительно облегчает в дальнейшем чтение и понимание английского текста. Предлагаемая система послетекстовых упражнений направлена на проверку понимания текстов, овладение запасом профессиональной лексики, совершенствование навыков говорения.
Пособие ориентированно на развитие у студентов мотивов самостоятельной образовательной деятельности с опорой на ранее сформированные знания и умения и может быть использовано как для работы в аудитории под руководством преподавателя, так и для самостоятельного совершенствования навыков чтения литературы по специальности.
В пособии были использованы тексты из следующих источников:
Casu B., Girardone C., Molyneux P. (2006) Intoduction to Banking, Pearson Education Limited. Diamond, D.W. (1984) Financial Intermediation and Delegated Monitoring, Review of Economics Studies.
The UK government’s white paper “The Consumer Credit Market in the Twenty-first Century”
(2003), http://www.dti.gov.uk/ccp/topics1/pdf1/creditwp.pdf.
European Central Bank (1999) The Effects of Technology on the EU Banking Systems, Report, http://www.ecb.int./pub/pdf/other/techbnken.pdf.
The Economist (2003) “Banking in China: strings attached”, 6 March
European Central Bank (2002) Mergers and Acquisitions Involving the EU Banking Industry, Press release, December, http://www.ecb.int/press/pr/date/2000/html.
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CHAPTER 1
The Role of Banks and Their Main Functions
GETTING STARTED
Working in groups, consider the issues below. After you have reached some conclusions, share your ideas with the whole class.
1.Discuss the role of banks in the economy.
2.The dictionary defines a bank as ‘a business that makes its profit by paying interest to people who keep their money there and charging a higher rate of interest to borrowers who borrow money from the bank’. Skim the text and find the definition of a bank in it. What is the difference between these two definitions?
3. .With the help of a dictionary find out about the types of banks 4. Say which bank types are operating in your area.
VOCABULARY STUDY
1).Study the words below and explain their meaning within the text 2). Suggest Russian equivalents of these words.
financial intermediaries |
to reconcile |
direct finance |
incompatible |
financial claim |
transactions costs |
to redeem |
information asymmetries |
to generate |
indirect finance |
deficit units |
securitisation |
surplus units |
pooling |
financial asset |
maturaty |
financial liability |
mortgage |
liquidity |
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1.1 Introduction
This chapter aims to offer some insights into the nature of the banking business and what makes banks 'special'. A bank is a financial intermediary that offers loans and deposits, and payment services. Nowadays banks also offer a wide range of additional services, but it is these functions that constitute banks' distinguishing features. Because