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D. Answer the questions about banking system.
1) What are the other names of the Central bank?
2) What are the main functions implemented by the Central bank?
3) How is the Government's monetary policy implemented through the Central bank?
4) Which banks are called retail?
5) What services are offered by commercial banks? What is their primary business?
6) In what way do commercial banks make profit?
7) Why may the bank become insolvent?
8) What are the main activities of merchant banks in Great Britain?
9) What are the differences between investment banks and commercial banks?
10) How is the bank rate regulated?
E. Find the words or expressions in the text which mean the following.
1) to place money in a bank; or money placed in a bank
2) how much money a loan pays, expressed as a percentage
3) the date when a loan becomes repayable
4) buying and selling stocks or shares for clients
5) taking care of all a client’s investments
6) ability to pay liabilities when they become due
7) anything that acts as a security or a guarantee for a loan
8) controlling the amount of banknotes in circulation
9) lending money to a commercial bank in danger of going bankrupt
F. The text contains a number of common verb-noun partnerships (e.g. to lend money, to finance international trade). Match up the verbs and nouns below to make common collocations.
G. Complete the sentences with the words below.
1) The sum … pays to …. for the use of their money is determined by the … rate.
2) The value of the money of one country compared to that of another is shown by the … rate.
3) The rate of interest fixed by a central bank, such as the Bank of England, is the… rate.
4) The bank account that covers daily needs - salaries are paid into it. Cash is drawn from it, and cheques are written against it - is the … account.
5) To start an account with a bank or with a supplier is to … it; to finish an account with a bank or with a supplier and formally to end the arrangement is to … it.
6) To obtain cash from bank at which one has an account is to … cash.
7) The greatest sum which debtors are allowed to owe is their credit…
Speaking: Banking System
A. Draw the flow chart describing the banking system.
B. Use the flow chart and topical vocabulary to speak about banking.
Reading 2: The Banking Services
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