XXIV. Discuss in groups advantages and drawbacks of different forms of money

XXV. Imagine that you are holding a museum exposition devoted to different forms of money. Tell the visitors of the exposition as much as you know about money. Any illustrative examples are welcomed.

SECTION 2. BANKING AND FINANCING

KEY VOCABULARY

I. Remember the correct pronunciation of these words

liability [̗̗ laɪə'bɪlɪtɪ]

commercial [kə'mə:∫əl]

cheque [ʧek]

provincial [prə'vɪn∫əl]

ratio ['reɪ∫ɪәu]

II. Learn the following English terms and their Russian equivalents. Give your own sentences with them

clearing bank – банк, осуществляющий безналичные денежные операции

to clear a cheque – оплатить чек безналичным путем (провести чек через

банковскую систему с одного счета на другой)

banker's effects – имущество,собственность банкира

Clearing House – расчетная палата

subject to notice – с условием уведомления

collateral security – ценные бумаги в качестве обеспечения

to settle down – успокоиться (о рынке); установиться (о ценах)

limited service accounts – расчеты за некоторые услуги

hire purchase – покупка с оплатой в рассрочку

to issue notes – выпускать банкноты

III. Read the following verbal phrases and pay attention to the prepositions used after them

to be subject to …;

to clear through the bank …;

to effect through transfer scheme ….

TEXT

IV. Listen, read and translate the text