Vocabulary notes

1. bank

to bank—держать деньги в банке

syn. to keep money with a bank

to bank at a branch — пользоваться услугами филиала

банка

to pay money into a bank — класть деньги в банк

to draw money from a bank — получать деньги в банке

to withdraw a deposit from a bank — отозвать (взять) вклад

из банка

to draw a check (bill) on a bank — выписать чек (вексель)

на банк

bank draft — банковский вексель

savings bank — сберегательный банк (сберегательная

касса)

clearing bank—клиринговый банк

bank profitability — рентабельность (доходность) банка

2. balance

balance sheet—баланс; баланс активов и пассивов; балан­совый отчет

credit balance — остаток кредита, кредитовое сальдо, кре­дитовый остаток

debit balance — дебетовое сальдо, дебетовый остаток syn.

a balance is in the debit bank balance — остаток счета в банке

balance on deposit — остаток на вкладе

balance of account — остаток на счете syn. amount of balance

balance standing to a customer's debit — у клиента на счете дебетовое сальдо

balance standing to a customer's credit — сальдо (счета) в пользу клиента

current balance — сальдо текущего счета, сальдо по кон­токорренту

3. account

bank account — банковский счет current account (Br)—текущий счет syn.

checking account (Am.

) deposit account (Br.)—срочный счет syn. savings account (Am.)

NOW account — нау-счет; текущий счет с выплатой проце­нтов и списанием по безналичным расчетам

Super NOW account — супер нау-счет; чековый процент­ный счет, приносящий доход по ставкам денежного рынка

(MMDA) money market deposit accoun депозитный счет денежного рынка

ATS account — САПС, счет автоматического перечисле­ния средств

share account — паевой счет (сбережений в кооперативном учреждении) «interest-bearing account — процентный счет

to open (close) an account with a bank—открыть (закрыть) счет в банке

to put money on an account — класть деньги на счет to keep an account with a bank — иметь счет в банке syn. to have an account with a bank to hold an account with a bank

to manage (to operate) an account—вести счет (в банке)

syn. to service an account

to overdraw an account—допустить овердрафт (превысить

кредитовое сальдо по счету)

to pay interest on an account — платить проценты по

счету

to hold money on an account — хранить деньги на

счете

account holder—владелец счета

account of smth. — отчет о чем-либо; расчет чего-либо

4. deposit

to deposit money with a hank — внести деньги в банк, депо­нировать деньги в банке

to make a deposit—вносить деньги в депозит syn. to place money on a deposit to build up deposits—накапливать депозиты to manage a deposit—управлять вкладом (депозитом)

to place $... on a deposit—положить ... долл. на вклад amount of a deposit — сумма вклада

deposit account—депозитный счет; англ. срочный вклад bank deposit — банковский депозит, вклад в банк interest-bearing ( noninterest-bearing )

deposits—процентные (беспроцентные) депозиты syn. interest earning deposits

current account deposit — средства на текущем счете individual deposits—зд. вклады частных лиц

demand deposit—бессрочный вклад

syn. checking account savings deposit—сберегательный вклад syn.

thrift deposit

time deposit — срочный депозит, вклад на срок

negotiable (nonnegotiable) certificates of deposit (CDs) — обращаемые (необращаемые) депозитные сертифи­каты

depositor — вкладчик, депонент, владелец вклада deposits in small denomination — мелкие вклады

5. checkbook

to issue a customer with a checkbook — выдать клиенту чековую книжку

6. passbook

passbook savings deposit — счет на сберкнижке to present a passbook—предъявить сберкнижку

7. statement

statement savings deposit—счет с выпиской о состоянии сберегательного вклада

statement of account — выписка банковского лицевого сче­та клиента

8. teller

bank teller — банковский служащий, кассир

9. withdraw

to withdraw money from an account — снять деньги со счета

to withdraw a deposit—отозвать вклад, взять вклад из банка

automatic withdrawal—автоматическое снятие денег со счета

to be subject to withdrawal—подлежать изъятию (о вкладе)

immediate withdrawal—отзыв (вклада) без предваритель­ного уведомления

10. notice

to give notice — уведомлять

to withdraw deposits with little or no notice — отозвать вклад

с кратковременным уведомлением

deposit at notice — вклад с уведомлением

at short notice — с кратковременным уведомлением

at 7 days' notice — с уведомлением за 7 дней

11. charge

to levy a charge — взимать плату

syn. to charge

to charge a fee — взимать комиссионный сбор (плату за

услуги)

free of charge — бесплатно

12. rate

bank rate — учетная ставка

money market rates—ставки (процента) денежного рынка

offer rate — предлагаемая ставка

13. interest

to pay interest on — выплачиват statement of account — выписка банковского лицевого сче­та клиента

8. teller

bank teller — банковский служащий, кассир

9. withdraw

to withdraw money from an account — снять деньги со счета

to withdraw a deposit—отозвать вклад, взять вклад из банка

automatic withdrawal—автоматическое снятие денег со счета

to be subject to withdrawal—подлежать изъятию (о вкладе)

immediate withdrawal—отзыв (вклада) без предваритель­ного уведомления

10. notice

to give notice — уведомлять

to withdraw deposits with little or no notice — отозвать вклад

с кратковременным уведомлением

deposit at notice — вклад с уведомлением

at short notice — с кратковременным уведомлением

at 7 days' notice — с уведомлением за 7 дней

11. charge

to levy a charge — взимать плату

syn. to charge

to charge a fee — взимать комиссионный сбор (плату за

услуги)

free of charge — бесплатно

12. rate

bank rate — учетная ставка

money market rates—ставки (процента) денежного рынка

offer rate — предлагаемая ставка

13. interest

to pay interest on — выплачивать процент по interest on a deposit—ь процент по interest on a deposit—14. transaction

to carry out a transaction — совершать сделку

transaction account (deposit) — трансакционный счет (де­позит), текущий счет, краткосрочный депозит

Answer the following comprehension questions based on the text.

Why are deposits so important?

What are the advantages and disadvantages of the current account from the point of view of a bank customer?

What are the main types of deposits in the U.S.?

Why are demand deposits often referred to as checking ac­counts?

What do checking accounts in the U.S. and current ac­counts in Great Britain have in common and in what do they differ?

What is the difference between the two main forms of savings deposits in the U.S.?

Do all the deposits sold by American banks carry the same yield?

What are the factors that influence the shaping of deposit interest rates?

BANK DEPOSITS

Banks carrying lending and investment operations have the use of the money of their clients from the moment they pay their money into the bank till the moment they draw it out. The accounts they hold with the bank have credit balances and are called depo­sits.

Deposits are the raw material of banking and, thus, represent the ultimate source of bank profitability and growth. They are a unique item on a bank's balance sheet that clearly distin­guishes a bank from other types of business firms? The building up of the bank's deposits is an important part of any bank manager's job.

There are two main types of accounts opened by the British clearing banks for their customers: the current account and the deposit account. Some banks provide a savings bank account. It is worth mentioning that banks have been eager in recent years to attract the accounts of even quite modest private people, despite the likely small size of the individual deposits and the high overheads incurred in servicing such accounts. The banks do not pay theie

customers any interest on current accounts, but provide some free of charge services to the holders and issue them with checkbooks. An account of checks paid, credits received and resulting balances is printed out by the bank's computer and sent to the customer. Big companies will require their statements daily, small private customers usually get theirs every three or six months. If an account becomes overdrawn a special code sign warns the account holder that his balance is in the debit. In case of overdrafts, a bank levies extra charges.

Money on a deposit account is not instantly available but can be withdrawn after giving the bank seven days' notice. Banks pay interest on deposit accounts. For years this rate was fixed at 2 per cent below Bank rate but now the banks key their rates to a base rate which varies with the money market rates.

There has been a steady drift of funds out of current into deposit accounts and also away from the clearing banks into interest-earning deposits of other financial institutions. However, many experts find it surprising that over half of all clearing bank deposits are still current account deposits on which the banks pay no interest, and in fact on which they often levy charges to meet,the expenses of servicing the account.

In the U.S. there are three main types of deposits. Demand deposits are similar to current accounts. They are more commonly known as checking accounts because they are sums standing to the credit of the customer which the bank undertakes to make immediately available to meet checks drawn against them, or of course as cash across the counter. They are the principal means of making payments.

Savings deposits generally are in small dollar amounts; they bear a relatively low-interest rate but may be withdrawn by the depositor with little or no notice. These deposits are designed to attract funds from customers who wish to set aside monies in anticipation of future expenditures. While their interest cost is higher, thrift deposits are g process or manage. Passbook savings deposits and statement savings deposits are the main types of saving plans. Passbook savings deposits are sold to household cus­tomers in small denominations. The customers are given small book­lets showing current balances in the account, any interest earnings, deposits and withdrawals. Usually a passbook must be presented by a depositor to a bank teller in order to make deposits or withdrawals. Statement savings deposits are evidenced only by computer entry. The customer can get monthly computer printouts showing all the relevant information.

Time deposits carry a fixed maturity and offer the highest interest rates a bank can pay. Time deposits may be divided

enerally less costly for a bank transaction accounts include negotiable orders of withdrawal (NOWs) and automatic transfer services (ATS). NOW accounts may be drafted to pay bills but also earn interest, while ATS is a preauthorized payments service in which the bank transfers funds from an interest-bearing savings account to a checking account as necessary to cover checks written by the customer. Two relatively new transaction accounts — money market deposits accounts (MMDAs) and Super NOWs — were offered in 1983. MMDAs, designed to compete directly with the high-yielding share accounts offered by money market mutual funds, and Super NOWs may carry prevailing market rates on short-term liquid funds. Both can be drafted by check, automatic withdra­wal, or telephone transfer, but the number of permissible withdra­wals from MMDAs is limited. MMDAs may be held by an individual, business firm, or unit of government, but Super NOWs can be held only by individuals, governments, and nonprofit organiza­tions.

Each of the different types of deposits carries a different rate of interest or yield to the depositor. In general, the longer the maturity of a deposit, the greater the yield that must be offered.^ For example, NOW deposits and MMDAs are subject to immediate withdrawal by the customer and, accordingly, their offer rate to bank customers is among the lowest of all deposits. In con­trast negotiable CDs and deposits of a year or longer to matu­rity often carry rates higher by a full percentage point or more. The size and perceived risk esposure of the offering banks also play an important role in shaping deposit interest rates. Another key factor is the marketing philosophy and objectives of the offering bank.

to The mix of bank deposits has changed dramatically in recent years. Demand deposits and low-yield savings deposits have de­clined as a percentage of bank funds, while more costly interest-bearing accounts such as MMDAs have grown rapidly. However, the particular types of deposits held by a bank at any moment of time depend, most importantly, on the public's demand for deposit services and on bank fund-raising policies, including the service fees charged and the interest rates offered on various deposit plans.

NOTES

monies (pi.) — денежные суммы

household—домохозяйство (семейная ячейка как хозяйствен­ная единица)

Bank rate — учетная ставка центрального банка Англии

mutual funds—взаимные фонды

money market mutual funds (.M'MMFs) (Am.)—инвести­ционные фонды открытого типа, вкладывающие средства только в краткосрочные обязательства денежного рынка

VOCABULARY PRACTICE

■ Ex. I. Look at the words in the box all of which are from the unit. Match the words with the correct definition from the list below.

notice	bank	statement,	NQW	account,
current account, balance,			yiefd,	teller,	de-'
posit,	charge,	interest rate

Cash, checks or drafts placed with a financial institution for credit to a customer's account.

Amount shown in an account; difference between debits and credits in an account.

Return on an investor's capital investment.

Price of credit, or ratio of the fees charged to secure credit from a lender to the amount borrowed, usually expressed on an annual percentage basis.

Bank clerk or cashier.

Interest-bearing checking account available to individuals and nonprofit institutions from banks, savings and loans, and other depository institutions.

Document which records the transactions which have occurred in a customer's bank account during a particular period of time and the closing balance.

Price demanded for service or goods.

Notification of termination of a by one party to an agreement to the other.

10. Account held by a bank which records transactions made by a customer, interest on the balance of the account being generally not given.

■ Ex. II. Look through the excerpt and then fill the spaces with words from the box. Translate the text into Russian.

From their earliest origins savings banks have ... (1) their finan­cial services to appeal to ... (2) and families. ... (3) can be opened for amounts as small as $1, with transactions ... (4) by mail or, in many instances, through 24-hour automated ... (5) in convenient locations. ... (6) in Massachusetts and New Hampshire were the first to develop the interest-bearing ... (7), perhaps the most important new consumer financial service of the past two decades. Many savings banks advertise ... (8) of family financial counseling services, home equity loans, and travel planning as well as a wide variety of savings instruments.

the availability, individuals, transactions, Deposit accounts, Savings banks, trans­ferred, designed, carried out, NOW ac­count, tellers

■ Ex. HI. Match the nouns in the right-hand column.

account	Pay carry carry open
deposit	present give
money	levy deposit charge
interest	give pay carry out
transaction	carry out withdraw deposit

В) Act as an interpreter for parts A and B.

Part В

Организация нового банка требует не только опыта, но и больших средств. Что же необ­ходимо для того, чтобы этот банк действовал?

Какие же существуют виды депозитов? В чем они раз­личны?

Я не очень хорошо разби­раюсь в этом вопросе и поэто­му хочу с Вами проконсульти­роваться. На какой счет лучше перечислять доходы нашей семьи, если нам необходимо не только осуществлять платежи за коммунальные услуги, наем жилья, учебу детей и т. д., но и накопить большую сумму де­нег для покупки автомобиля?

Part A

Well, let me think for a moment.

May be it would be worth looking at ...

First. I'd like to talk about ...

What do I think of it? Well...

Well, let me see. I'd like some details about ...

процента

■ Ex. V. Do it in English making use of the active.

Исключительно острый характер приняла в последние годы борьба за сбережения населения и накопления фирм. Изменение структуры спроса на кредит повысило значение таких операций, где средства мобилизуются на длительные сроки. Это существен­но усилило конкуренцию между коммерческими банками и спе­циализированными сберегательными учреждениями. Коммерчес­кие банки используют теперь такие меры как повышение про­центных ставок, уплачиваемых по срочным и сберегательным вкладам, переход к новым «мобильным» формам вкладов, обес­печивающим возможность быстрого превращения их в наличные деньги.

Необходимо отметить, что в последние годы сберегательные счета все чаще применяются для осуществления платежей, что приближает их по режиму к текущим счетам. В Японии банки по поручению клиента переводят со сберегательных счетов деньги в уплату за пользование телевизором, электроэнергию, телефон, газ, наем помещений, подписку на газеты, школьные завтраки и т. д. Эти услуги имеют широкое распространение; к ним прибе­гает три четверти всех владельцев телефонов в стране. Популяр­ны и некоторые специальные формы сбережений, например регу­лярное внесение средств на счет с получением их в конце года.

Капиталистическим фирмам или крупным частным вкладчи­кам банки открывают счета на срок или выдают им срочный вкладной сертификат.* Указанные виды вкладов не имеют пре­дельной суммы. Первый аналогичен обычному срочному вкладу: по нему выдается книжка и требуется предварительное уведомле­ние об изъятии (от одной недели до 30 и более дней). При второй форме лицевой счет не открывается: вкладчик получает удостове­рение (сертификат) с указанием срока изъятия вклада и размера получаемого процен последние годы в США, Англии и неко­торых других странах широкое распространение получили об­ращающиеся вкладные сертификаты,** которые могут быть про­даны на рынке и переходят из рук в руки с помощью нередаточ-ных надписей.*** Этой формой вклада пользуются крупные компании, местные органы власти, иностранные вкладчики. В США обращающиеся вкладные сертификаты выпускаются достоинством не менее 100 тыс. долл. (наиболее популярны сертификаты в 1 млн. долл.), в Англии — от 50 тыс. до 250 тыс. ф. ст.

* срочный вкладной сертификат — time certificate of deposit ** обращающийся вкладной сертификат — negotiable certificate of deposit *** передаточная надпись — endorsement

DISCUSSION

П 1. Where do banks get their money?

□ 2. How has the mix of bank deposits changed in recent years?

How can you account for it?

□ 3. Expand on the difference between deposit-taking practices in

the U.K. and the U.S.?

Part В Text II

loan, credit, overdraft,		collateral,
security.	lend, borrow,	portfolio,
finance,	maturity, leasing