Western Europe as credit banks to distinguish them from investment banks. In most countries the

Commercial banks are concerned mainly with making and receiving payments, receiving deposits

And making short-term loans to private individuals, companies and other organizations. The banks

increasingly provide a number of other services to their customers: trustee and executor facilities,

The supply of foreign currency, the purchase and sale of securities, insurance, credit transfer, personal

Loan and credit-card facilities. The banks have also over the years diversified into other financial

Services in competition with the finance houses and the merchant banks, e.g. venture or risk

Capital and the management of unit trusts (universal banks). In the UK competition among the

Retail banks has intensified as technology has rendered the large branch network far less important

In the delivery of services; and as the division between different types of financial service has broken

Down. In 1997, to reflect that, it was announced that a new unified regulatory structure for all

Types of financial institution would be created.

Vocabulary Notes to Text 12.7.1.2

A large number of branches — разветвленная сеть филиалов

Retail bank — розничный банк (deposit bank)

Credit bank — кредитный банк