B) Bank Accounts

When money in placed in ... bank it is said to be "deposited". The money may be put into ... account from which it can be drawn at any time, or into ... account which can only be drawn upon after certain notice has been given. In British banking, these types of accounts are known as current accounts and deposit accounts respectively. In ... USA, the corresponding terms are "demand deposits" and "time/or notice deposits".

A person uses a current account to provide ... safe way of keeping his money, and having it easily available when he wishes to spend it.

Payments are made from current accounts, and money is withdrawn from them by means of cheques (... very small interest is paid on these accounts).

A deposit account is used for saving money, and ... period of notice must be given before money can be withdrawn from a deposit account, especially when ... amount to be withdrawn is fairly big. A higher rate of interest is paid by the bank on money on deposit accounts compared with current ones. A cheque book is provided for the customer when he opens this account. The terms "cash deposits" and "savings deposits" are sometimes used to denote the deposits continually turned over in ... settlements of debts and those not held for current business, but as investments or savings.

Words you may need:

Англійський варіант Російський варіант Український варіант

place размещать, помещать розміщувати,

розташовувати

respectively соответственно відповідно

demand deposit бессрочный вклад безстроковий вклад

available доступный доступний

time deposit (амер.) срочный вклад терміновий вклад

denote обозначать позначати

turn over оборачиваться обертатися

Ex.5.

1. Supply the prepositions where necessary,

b) Write down 3-5 questions about the texts.

1. The first bankers in Britain were Lombards, ... Lombardy in northern Italy. Merchants and traders from this part of Italy came to do business in the City of London. But ... a century of business in London the Lombards had to leave: they loaned money ... kings who did not repay the loans, and eventually made the bankers bankrupt.

Banking came to be conducted ... the goldsmiths as a sideline to their normal activities. Soon merchants, landowners, and other well-to-do people also started practising banking.

Banking developed, but Lombard Street, a narrow street in the City of London where Italian bankers settled ... in the fifteenth century, is still the centre ... British banking. Many of Britain's best-known banks have their head offices ... Lombard Street. The English banking system is a tripartite system. The three parts are:

1. The Bank of England, a "State Bank";

1. The commercial, or joint-stock banks, which deal... the general public;

2. Specialized banking institutions, such as the discount houses and merchant banks.

The place of the commercial banks in the British economy is a very important one. They stand ... the very centre of business activity and can promote prosperity or deflate the economy into unemployment.

Commercial banks are most visible ... the general public. Their main business is taking ... deposits and making loans to individuals and industry. This business is conducted ... a network of branches.

They are commercial in two senses: they make loans to commerce (to finance trade) and they are themselves commercial profit-oriented businesses.

Words you may need:

Англійський варіант Російський варіант Український варіант

lombards ломбарды ломбарди

merchant купец купець

goldsmith золотых дел мастер золотих справ

майстер

sideline побочный, побічний,

дополнительный бизнес додатковий бізнес

tripartite состоящий из трех частей що складається з

трьох частин

discount house учётный дом обліковий будинок

merchant bank торговый банк торговий банк

to promote prosperity способствовать сприяти процвітанню

процветанию

to deflate the economy сократить денежную скоротити грошову

массу в обращении масу в обороті