VII. Find in the text the following words and word combinations and translate the sentences in which they are used:

Retail deposit-taking business; regional subsidiary clearing banks; cheque clearing system; electronic funds transfer system; current accounts; interest-bearing sight deposits; saving deposits; time deposits; negotiable certificates of deposit; personal customer; mortgage loans; credit card finance; professional business loans; syndicated loans; leasing; back ring; thrift institutions; public sector debt; personal credit facilities; business loans; full-fledged retail banks; cashing facilities; money remittance service; saving deposit business; real bill doctrine; accounts receivable; short-term loans.

VIII. Find in the text the terms which match the following explanations:

1. Середньо і довгостроковий банківський кредит під забезпечення (від 2 до 10 років).

2. Тип банківського рахунку, який дає право виписувати чеки (до запитання, безпроцентні).

3. Банк, включений до міжбанківської системи розрахунків і який є членом Лондонської клірингової палати і комітету клірингових банкірів.

4. Державний банк Великобританії, створений у 1968 р. для організації ефективної системи переказів через поштові відділення.

5. Ощадні установи, які становлять загальнонаціональну систему кредитних установ, яка за широтою функцій та масштабами операцій конкурує з комерційними банками.

6. Гроші покладені на певний час на ощадний рахунок.

7. Депозитний сертифікат (до запитання чи за наказом вкладника), який має вільний обіг на фондовому ринку.

8. Ощадний депозит, який може вилучатися за допомогою чеків.

9. Депозит, який може бути вилученим тільки після певного періоду або після попереднього повідомлення.

10. Система переказу коштів електронною поштою.

11. Банківська позика (без забезпечення), основна сума і проценти з якої виплачуються рівними внесками протягом обумовленого строку; видається на основі аналізу кредитоспроможності клієнта.

12. Фінансування кредитними картками.

13. Кредит, наданий двома чи більше банками, один з яких є менеджером.

14. Позичка під нерухомість.

15. Позичка надана професіональним/спеціалізованим діловим підприємствам.

16. Кредит за поточним рахунком або конкурентний кредит (одержання кредиту через виписування чека або платіжного доручення на суму, що не перевищує залишок грошей на рахунку).

IX. Scan the text. Translate it into Ukrainian. Don’t use the dictionary:

Also included in the retail banks is the Bank of England Banking Department. Why? The Bank of England has two major depart­ments, the Issue Department and the Banking Department. The Issue Department is responsible for issuance of bank notes. As such, it is treated as part of the government for national accounting purposes. The Banking Department is the banker to government, to banks, as well as to a small number of certain individuals. To serve as the banker to the government, it maintains banking accounts for the Exchequer, Paymaster General, and other government departments. It makes short-term funds available to the government in exchange for government securities. Such funding needs often arise, as government payments and receipts are not perfectly syn­chronized. Just like individuals maintaining their accounts with banks to settle their payments, London Clearing House member banks maintain their clearing balances with the Banking Department to settle payments of their own as well as on behalf of other nonmember banks. In addition, the Banking Department receives or supplies bank notes, depending on the demand for till money by banks. If the Department needs more bank notes than it has in stock, it in a sense buys them from the Issue Department in exchange for government securities. In addition, the Banking Department also serves a small number of private customers who have maintained their accounts dating from prenationalization days and Bank of England staff members. Thus, the business of the Banking Department resembles that of any retail bank except that customers are substantially different. The Department is a member of the London Bankers' Clearing House.

The retail banks as a group had total assets of £426.1 billion as of December 2000, 33.1 percent of the total assets of the British banking industry. The major sources of funds for the retail banks were deposits taken from the nonbank UK private sector such as households and firms, comprising about 51 percent of total sources of funds. On the assets side, the retail banks as a group contributed about 55 percent of the total assets for advances to the UK private sector.

In lending, the retail banks have been guided by the real bills doctrine, which argues that, in trust of public money, clearing banks should lend only short-term loans based on real bills. These loans have the characteristics of being short term, productive, and self-liquidating in nature. That is, money - is loaned to borrowers to enable them to purchase inventories; then, inven­tories are sold on credit terms (thus creating accounts receivable); when payment is made, accounts receivable are retired into cash which is now ready for use for the loan repayment.

By and large following this doctrine, clearing banks, when faced with nontraditional business opportunities such as term loan lending or loan syndications in the 1960s and 1970s, opted to conduct such business through their subsidiaries. In this way, the clearing banks would be insulated from new unfamiliar risks. However, when a number of secondary banks, many of which were subsidiaries of clearing banks, got into financial difficulties in the early 1970s, it proved to be unwise to insulate in such a way. As a consequence, clearing banks started entering nontraditional markets more directly.