10. Translate the following extract in written form:

Banks perform the widest range of functions in the economy and consequently any modem full-service banking institution should provide the widest variety of services.

Banks may be defined as firms producing and selling financial services. Their success or failure hinges on their ability to identify the financial services of public demands, produce those services efficiently, and sell them at a competitive price. The service menu (вибір послуг) of banks does not remain unchanged as new services are constantly being introduced and developed by commercial banks. Many of them offer a combination of wholesale and retail banking. The former provides large scale services (послуги, які надаються великим фірмам) to the corporate sector. The latter mainly provides smaller scale services (послуги малим фірмам і населенню) to the general public.

11. Look through the excerpt and then fill the spaces with necessary words. Translate the text into Ukrainian.

organization, hoard of directors, departments, services, responsibilities, markets, offers, serve, top management.

If a bank is owned and controlled by a holding company; its shareholders elect a ...(1) to oversee bank and nonbank firms allied with the same holding company. Selected members of this board of directors ...(2) on the bank's board as well. The key problem in such an ...(3) is span of control, with ...(4) often knowledgeable about banking practices, but less informed about the products and ...(5) offered by other subsidiary companies. Moreover, because the bank itself ...(6) so many different services in both domestic and foreign ...(7), serious problems may not surface for weeks or months.

XII. Read the text and answer the questions:

1. What are main functions of a bank?

2. How are banks usually organized?

Bank organization

The way in which a bank is organized and operates is determined by its objectives. The first and most important function of a central bank is to accept responsibility for advising the government on the making of the country's financial policy, and then to see that it is carried out. The aim of commercial banks is to earn profit. Over the years banks have developed organizational forms, or structures, designed, to perform these various roles and to supply the services their customers demand.

Banks are usually organized to follow their functions and supply the services demanded by them as efficiently as possible. Moreover, because larger banks generally play a wider range of roles and offer more services a bank's size is also a significant factor in determining how banks are organized.

The large banks possess some potential advantages over small and medium-size banks. Because the largest institutions serve many different markets with many different services, they are better diversified, both geographically and by product line, to withstand the risks of a fluctuating economy. They also possess the important advantage of being able to raise financial capital at relatively low cost and the professional expertise to focus that new capital on the most promising loans and business acquisitions.

The oldest and most common banking organizations in the United States are unit banks. They offer all of their services from one office though a small number of services (such as taking deposits or cashing checks) may be offered from limited-service facilities, such as drive-in windows, automated teller machines (ATM) and retail store point-of-sale (PCS) terminals that are linked to the bank's computer system.