XXII. Complete the sentences with the words from the list.

checking deposits, the money, a credit card, term deposits, making payment, access the money, the process, the form of payment, a medium of exchange.

1. A much more common process for _____________________, especially large payment, is through the use of checks.

2. We use our money as ________________ to acquire goods and services.

3. By using checks, we are able to use the funds we hold as _________________ in financial institutions.

4. Checkable deposits represent money and serve as __________________.

5. There are _________________ where people deposit funds for a fixed, agreed-upon period of time.

6. Checks are a process by which to make payment and ________________ in the accounts.

7. Deposits represent _______________, the checks represent ____________.

8. In using __________________, you are activating a loan and borrowing funds to make a purchase.

XXIII. Choose the correct alternative to complete the sentences:

1. Money in notes and coins is called _________________.

1. cash

2. capital

3. reserves

2. Money borrowed from a bank is a _______________.

1. deposit

2. income

3. loan

3. Money placed in banks and other savings institutions constitutes ___________.

1. capital

2. deposits

3. finance

4. Regular part payments or debts are called ______________.

1. deposits

2. loans

3. installments

5. By presenting your _______________ to a retailer you enable the retailer to access your funds directly through a computer hook-up.

1. credit card

2. debit card

3. deposit

6. Written orders directing a bank to pay a person or business a specific sum of money are _______________.

1. checks

2. coins

3. cards

7. ________________ is an identification card that entitles the lawful owner to make purchases or credit.

1. debit card

2. credit card

3. cash

Unit VI

Topic: Banking

Text A: A Brief History of Banks

Text B: Types of Banks

I. Practise the pronunciation of the following words.

1. stress the first syllable:

goldsmith, century, drawback, jewelry, statue, precious, vanish, Babylon, Florence, promise, interest, borrow, government, gradually;

b) stress the second syllable:

linguistics, suggest, consist, amount, Jerusalem, excess, demand, repaid, taxation, security, department, however, return, accumulate, revive, deposit.

II. Before reading the text answer the following questions.

1. What banking facilities do you use?

2.What services do commercial banks offer?

3.What changes have there been in personal banking recently?

III. Read and memorize the words and word-combinations.

source of credit – кредитні кошти

goldsmith – золотих справ майстер, ювелір

amount of gold – кількість золота

wealthy people – багаті

medieval Europe – середньовічна Європа

jewelry – коштовності, ювелірні вироби

precious goods – дорогоцінні речі

guarded vault – сховище під охороною

to make a loan – надавати позику

accepted deposit – акцептований, підтверджений депозит

to slump – різко падати, ущухати

to accumulate – скупчувати, нагромаджувати

high rate – висока відсоткова ставка

to pay interest – сплачувати відсотки

government securities – цінні державні папери

bearer – пред’явник

moneylender – лихвар

to lend money – позичати (комусь), давати позику під відсотки

to borrow money – позичати (у когось), запозичати.