РАЗДЕЛ 8. Banks

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BANKS

Bank generally, a corporation formed for the purpose of maintaining savings accounts and checking accounts, issuing loans and credit, and dealing in negotiable securities issued by governmental entities and corporations.

By law, banks are usually permitted to engage in activities and offer numerous services incidental to and beyond those listed above, e.g., buying and selling gold and silver. Banks earn money by investing their customers’ deposits. Banks protect the customers against loss and are strictly regulated.

Commercial bank by far, the most common and most unrestricted type of bank. It is allowed the widest range of services it offers and the investment it makes. Its major limitation is that it must keep on reserve a larger percentage of its deposit. This reserve is used to cover the bank’s daily needs, to guard against a money shortage at the bank and a resulting panic, and to shield the customers against the bank’s failure and the consequent loss of deposits.

Savings bank’s major service was the “time” savings account, or deposit, from which money, once deposited, could be withdrawn only after a set period elapsed or 30 days’ notice was given. By law a savings bank’s investments are usually limited to certain corporate and government bonds and securities. Its advantages are that it can pay higher interest rates than commercial bank, has certain tax benefits, and can keep a smaller percentage of its deposits on reserve. Usually, the bank is owned by its depositors as creditors whose dividends are paid in form of interest on their accounts.

1. Ответьте на вопросы по тексту:

1. What is bank in general?

2. What are bank’s objectives?

3. How do banks earn money?

4. What is the “time” savings account?

5. What are advantages of savings banks?

2. Найдите в тексте эквиваленты слов и выражений профессионально-ориентированной лексики:

Хранить сберегательные счета, выдавать ссуды и кредиты, оборотные ценные бумаги, государственные юридические лица, заниматься деятельностью, предлагать услуги, зарабатывать деньги, вклады клиентов, защищать клиентов от банкротства банка, потеря вкладов, сберегательный банк, процентная ставка.

3. Расскажите, используя профессионально-орентированную лексику, что говорится в тексте о:

Banks’ services, commercial bank, savings bank.