Home reading. Read and translate the text. Give a short summary of it

ACTIVITIES

THE STRUCTURE AND FUNCTIONS OF A BANK

UNIT 5

The English commercial banks have branches in all the major towns and a similar mode of working is common to them all. The owners are the shareholders. At the outset they provide the necessary capital. They are all organized on the joint stock principle and are registered public companies.

The Chairman and Board of Directors are elected by the ordinary shareholders at the Annual General Meeting and are responsible for the efficient management of the bank. The Board is concerned with the overall policy of the bank and the major decisions which put that policy into effect.

The Board will appoint a Managing Director who is directly responsible to them and a member of the Board. They will also appoint the most senior executives who in turn appoint the rest of the clerical staff who will be responsible in different capacities for the day to day running of the bank.

The essence of a bank's activities is the collection of deposits through current accounts and deposit accounts and the use of these funds to provide loans or funds for investment. The current account is the one commonly held and is drawn upon by cheques and standing orders. The deposit account is more in the nature of a savings account. The pattern of investments which a bank decides upon is crucial because, on the one hand, the bank must use the funds wisely to make a profit and, on the other, funds must be available for depositors to withdraw when they wish to do so.

At the end of each business year the Directors recommend and the Annual General Meeting decides how much of the profit should be distributed to the shareholders as dividend, and how much should be retained in the business. In preparation for the Annual General Meeting, a bank publishes its Report and Accounts. These must be sent to every shareholder and are also available for anyone with an interest in the affairs of the bank. From the published accounts shareholders can easily determine the total profits the bank has earned and how much is available for distribution.

1. Find in the text English equivalents for the following words:

account - счет

accountant - бухгалтер

board of directors - совет директоров

capital - капитал

clerk - служащий

current account - текущий счет

deposit account - депозитный счет

depositor - вкладчик

dividend - дивиденд

draw upon an account (v) - снимать со счета

invest (v) - инвестировать

interest - процент, процентный доход

joint stock - акционерный капитал

loan - ссуда, заем, кредит

profit - прибыль

reserve - резерв, запас

run the hank (v) - управлять банком

shares - акции

shareholder - акционер

statement - выписка из банковского счета

standing order - постоянное поручение клиента банку

2. Find the nouns that are qualified in the passage by these adjectives and make up sentences of you own:

clerical over-all

necessary day to day

published total

3. Fill in the blanks with proper words or phrases:

1. The board appoints the..... and the.....

2. An employee in a bank who pays out and receives money is called a...

3. The Board of Directors is elected by the......

4. The Board may distribute..... to the shareholders out of the profits once or twice a year.

5. The..... may be high even after all the bank's expenses are paid.

6. A bank will need to seek approval for a large..... to a customer.

7. The Board will discuss the bank's..... in other businesses.

1. Find proper definition:

1. Role play:

1. You are a bank manager mid you were asked for a loan.

2. Consider the things you will worry about the loan and the questions you will want to be answered; you should give particular consideration to:

— whether you will have sufficient funds to make this loan,

— whether you think the customer will he able to repay loan and interest,

— whether you would offer all or part of what is being asked,

— whether you need any further evidence of the credit-worthiness of your customer and how you would get it,

— what sort of security would you accept,

— what kind of term would you offer.

6. Translate the following word combinations. Make up sentences of your own:

an essential tool of civilization, the direct exchange of goods and services, the great disadvantage of barter, a laborious system of exchange, an amazing variety of goods and services, a piece of furniture, the value of one commodity, a means of making deferred payments, in the case of hire purchase

7. Make up sentences using these words:

1. limits, of, economics, to, study, the, of, aspects, the, material, itself, life.

2. problem, an, is, underlying, economics, in, that, sur­vival, of.

3. seem, may, a problem, very, this, remote.

4. very, starvation, a, prospect, millions, for, real, human, beings, is, of.

5. peasants, an, Indian, have, living, of, the, low, extremely, standard.

6. people, great, experience, poverty, these.

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