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Unit 13 money and banking

I. Find the following word-combinations in the texts and translate them into Russian.

a) the crucial feature of money; unit of account; to hand over; a store of value; to swap for other goods; a barter economy is wasteful; money pays no interest; monetary value; prices are quoted in pounds; interest-bearing bank accounts; a standard of deferred payment; tiny manufacturing costs; legal tender; IOU money

b) a financial intermediary; to credit the public with a deposit; liabilities are used as a means of payment; trustee savings banks; to credit; to debit; a transfer of funds; the asset side of the balance sheet; interest-earning assets; sight deposit; time deposit; to have notification of a withdrawal

П. Find in the texts English equivalents for the following.

a) отсроченные платежи; двойное совпадение желаний; совершать взаимовыгодный обмен; средство сохранения стоимости; расточительный; средство сбережения; приносящий проценты счет в банке; покупательная способность; фактически уменьшать доходы; денежные знаки; законное платежное средство; выписывать чек третьему лицу

b) финансовый посредник, кредитно-финансовое учреждение; денежная масса; государственная лицензия; система взаимозачетов; иметь смысл; сокращать издержки; кассовый резерв; активы, приносящие проценты; ссуда, кредит; фондовая биржа; цены колеблются; ценные бумаги; срочный вклад; точно установленный период времени

Ш. Say what is meant by:

a barter economy is wasteful; purchasing power of money is eroded by inflation; a token money; IOU money; the deposit; to handle payments by check; a clearing system; liquidity; a sticky period for a firm; sight deposit; time deposit; to have notification of any withdrawal; certificates of deposit

IV. Listening.

1. Listen to the lecture to answer the questions in the textbook.

2. Listen to the lecture again taking notes to give a summary of it.

V. Match the words (1 – 5) with their corresponding definitions (a – e):

  1. clearing bank

  2. commercial bank

  3. sight deposit

  4. time deposit

  5. reserve ratio

  1. a type of bank account from which you can take out money immediately without paying a charge and without informing the bank in advance

  2. a bank involved in international trading and providing services for business and organizations rather than for individuals

  3. one of the banks that issues and accepts cheques and passes them through the banking system

  4. the amount of money a financial institution possesses in relation to the amount of money it has lent

  5. a bank account in which you must leave your money for a minimum period of time and from which you can only take out money after informing the bank in advance

VI. Match the words in the left-hand column with their synonyms:

  1. sight deposit a) to contain

  2. time deposit b) invariable

  3. crucial c) term deposit

  4. fixed d) call deposit

  5. to lend e) decisive

  6. to comprise f) to loan

  7. liability g) payment

  8. notification h) obligation

  9. account i) later

  10. subsequently j) information

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