Settling liabilities through the Clearing House

Exercise IV. Используя текст, закончите следующие предложения:

1. Banks borrow money from the public in order to …
2. The clearing system lets banks
3. The asset side of the bank balance sheet includes …
4. The liability side of the balance sheet includes…
5. The two most important kinds of deposits are known …
6. Cheques can be written against …
7. Interest is usually paid on …
8. To withdraw a time deposit one must give the bank a period of notification for the bank …

Exercise V. Переведите предложения на русский язык.

1. Sight deposits at banks appear to have two main characteristics: cheques can be written or transfers can be made against deposited funds, and the interest paid is lower what other assets offer.

If you keep cash on hand or hold your money in a chequing account, it is not a bad idea to think of how much interest you could have earned with a time deposit.

A bond is an interest-bearing security issued by businesses and by the government for the purpose of borrowing long-term funds. Bonds are most likely to be issued for periods of several years.

The clearing house brings together all cheques and determines at the end of each day net debts between banks. These debts are then settled by transferring funds held by commercial banks at the Central Bank.

5. The tree main types of money used are sure to be as follows: 1) chequing accounts, also called sight deposits or demand deposits, issued by commercial banks, 2) notes, and 3) coins.