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Банки I-IX.doc
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    1. Key terms

Open market

  • відкритий ринок

Discount rate

  • облікова ставка

Depositary institution

  • депозитарні установи

Discount window“

  • “облікове вікно”, позички надані ЦБ кредитним установам

Bank supervisory matters

  • питання банківського нагляду

Quasi government agencies

  • квазі (схожі) державні установи

Collateral

  • застава

To redeem

  • сплачувати борг

A central check – clearing system

  • центральна система чекових разрахунків

    1. Answer the following questions in your own words:

      1. Who established the Federal Reserve Banks?

      2. What are the functions of FRS?

      3. Into how many Federal Reserve Districts is the country divided?

      4. Who supervises the operations of the FRS?

      5. What are sources of income of the FRS?

      6. What are the functions of the central bank of the USA?

      7. What do you know about the research work inside the FRS?

      8. What do you remember of the supervisory role of the FRS?

III. Fill in the blanks in this passage, using words from the list given below:

Depository institution services; currency and coin; transfer payment; vaults; performs; Bureau of the Mint; to make social security; for cash; payroll and vendor; international agencies; payments; check-clearing system; route; withdrawn; checks; heavy cash demand; process; operating accounts; transfer payment; electronically; operating accounts; federal unemployment taxes; transfer funds and securities; recurring transactions; corporate income taxes; the public debt; Treasury securities; government securities; automated clearinghouses; to their reserve accounts; currency and coin; outstanding obligations; of the US Treasury.

The Federal Reserve System, through the Reserve Banks, _____ various services for the US Treasury and other government, quasi-government, and _____. Each year, billions of dollars are deposited to and _____ by various government agencies from _____ in the US Treasury held by the Federal Reserve Banks.

The Federal Reserve Banks hold, in their _____ collateral for government agencies to secure public funds that are on deposit with private depositary institutions. In addition, Reserve Banks receive their deposit to the Treasury’s accounts such items as _____, individual income taxes withheld by payroll deduction, _____, and certain federal excise taxes.

The Federal Reserve Banks also issue and redeem instruments of _____, such as savings bonds and _____. They have certain responsibilities for allotment and delivery of _____ and for wire transfer of securities. In addition, the Reserve Banks make periodic payments of interest on _____, _____, _____, federal agencies, and government-sponsored corporations.