1. Read the following:
| • the next day in the past other banks | • the Channel Islands the Isle of Man the United Kingdom the corporate sector |
• They are engaged in mergers.
They are engaged in take-overs.
They are engaged in acquisitions.
They are mostly engaged in discounting bills.
• Here is the short summary of the lecture.
There are ninety-two building societies in the UK.
These are wholesale banks.
2. Find answers in the text and read these sentences:
To what topic was the lecture devoted?
How many retail banks are there in Britain?
How many discount houses are there?
How many merchant banks are there?
How many other British banks are there?
What foreign banks are located in the UK?
How many building societies are there in Britain?
2. Translate into Russian:
| • banking | • merchant banks |
| banking sector | overseas banks |
| retail banks | building societies |
| discount houses | clearing system |
| to discount bills | acquisition |
| private customer | consulting services |
| corporate customer | branch |
| corporate sector | subsidiary |
| merger | mortgage |
| take-over | mortgage loan |
4. Match terms and definitions:
| retail banks | banks extending mortgage loans, taking in deposits and providing other banking services |
| discount houses | banks serving private customers |
| merchant banks | banks serving private and corporate customers with big money |
| building societies | banks discounting bills of exchange |
5. Complete as in the text:
There are a few types of foreign banks based in Britain. They are American, Japanese and other overseas banks.
American banks ...
Japanese banks ...
Overseas banks ...
6. Insert articles:
... next day ... session was devoted to ... United Kingdom Banking Sector. Here is ... short summary of... lecture.
... UK Banking Sector comprises retail banks, discount houses, merchant banks, foreign banks, building societies and other banks.
7. Insert prepositions:
Retail banks render numerous services ... private customers and have extensive branch networks ... the UK. They participate directly ... the UK clearing system.
Merchant banks are wholesale banks. They handle big money ... private and corporate customers. They are engaged ... mergers, takeovers and acquisitions.
8. Complete the sentences:
Discount houses are mostly engaged in discounting ...
American banks comprise the branches ...
Japanese banks comprise ...
In the past British building societies mostly extended mortgage ... but nowadays they also ... as banks.
9. Underline the verbs and translate the sentences into Russian:
Other British banks comprise all other banking institutions registered in the UK and banks in a few islands. They are controlled by UK companies or individuals. Overseas banks are foreign banks excluding (исключая) American and Japanese banks. They comprise the branches and subsidiaries of those banks and Consortium banks too. All these banks are owned by other financial institutions. One of the owners of every bank must be based overseas.
10. Role play:
Imagine you are the lecturer. Speak on the types of banks in Great Britain.
11. Agree or disagree:
Types of banks in Russia are similar to those in Great Britain.
12. Say what you know about commercial banks in Russia.
Text
After the session on Banking Sector Mr. Hill suggested that in the afternoon the participants should visit the museum of the Bank of England. It was one of the external visits of the Programme.
The museum of the Bank of England is located practically in the building of the Bank, in the City of London. The museum has a lot of exhibits showing the history of the Bank from its foundation in 1694 to its role today as the nation's central bank. Visitors can also see a video on the history of the Bank.
Here is a part of the text of the video:
To understand the role and importance of the Bank better we should learn first how it emerged.
During the seventeenth century banking in England was in the hands of goldsmiths who held deposits, made loans to the merchants and the Crown. But even the wealthiest goldsmiths could not carry on a deposit and lending business on the scale the Government required.
So in sixteen ninety four a joint stock company to raise money for the Government and finance wars was incorporated. It later got to be known under the title "Bank of England".
Although privately owned and financed, the Bank of England developed essentially as a government bank, raising money to finance the needs of the British Government, managing its national debt, printing banknotes and minting coins.
In 1946 the Bank was nationalized and it operates today as the UK's central bank executing monetary policy on behalf of the Government and supervising the markets in one of the world's largest and most sophisticated centres.
Besides the Bank has always been a repository of gold...
After seeing the video the participants of the Programme made a round of the museum and asked Mr. Hill a few questions.
Participant: Excuse me, Mr. Hill. May I ask you a question?
Mr. Hill: Why, certainly.
Participant: One day I heard the nickname of the Bank. Old Lady. Such a funny name! Where does it come from?
Mr. Hill: Nobody knows exactly. Different explanations are given. Many of us associate this nickname with an old cartoon. This cartoon shows the Prime Minister asking an old lady sitting on the money-chest marked "Bank of England" for gold coins.
Participant: So, that's it! Very fascinating indeed!
Words and expressions
| to suggest | [s@'³est] | предлагать |
| He suggests that they should visit the museum | Он предложил им посетить музей. | |
| afternoon | вторая половина дня (после 1200) | |
| in the afternoon | днем | |
| to be located | находиться, размещаться | |
| the City (of London) | Сити | |
| lot | партия | |
| a lot of... | много | |
| exhibit | [Ig'zIbIt] | экспонат |
| to show (showed, shown) | показывать | |
| foundation | основание | |
| sixteen ninety four | 1694 г. | |
| nation | нация, народ | |
| central | центральный | |
| visitor | посетитель | |
| importance | важность | |
| to emerge | [I'mý³] | появляться, возникать |
| century | век | |
| the seventeenth century | семнадцатый век | |
| goldsmith | ювелир | |
| to hold (held, held) | держать, сдерживать | |
| to hold deposits | держать депозиты | |
| to make (made, made) loans to somebody | предоставлять кредиты кому-либо | |
| crown | корона | |
| the Crown | английская корона, знак качества | |
| wealth | [welT] | богатство |
| wealthy | богатый | |
| wealthiest | самый богатый | |
| to carry on | вести, проводить | |
| to carry on business | вести дела | |
| to carry on a deposit business | заниматься депозитами | |
| to carry on «i lending business | заниматься кредитованием | |
| scale | масштаб | |
| on the scale | в масштабе, в объеме | |
| on the scale the Government | в объеме, установленном правительством | |
| required | [rI'kwaI@d] | требуемый |
| joint stock company | акционерное общество | |
| to raise money | собирать деньги, изыскивать средства | |
| war | [wþ] | война |
| to incorporate | [In'kþp@reIt] | регистрировать |
| The company was incorporated in 1694 | Компания была основана в 1694 г. | |
| It got to be known- | Это стало известно | |
| title | заголовок | |
| under the title | под заголовком, как | |
| although | [þl'Dou] | хотя |
| essentially | существенно | |
| to manage | управлять, руководить | |
| debt | [det] | долг |
| to manage debts | управлять долгами | |
| to print | печатать | |
| banknote | банкнота | |
| to mint coins | чеканить монеты | |
| to execute a policy | проводить политику | |
| on behalf of somebody | [bI'h¸f] | от имени кого-либо |
| to supervise something/ somebody | руководить чем-либо/кем-либо | |
| large | большой | |
| market | рынок | |
| largest | самый большой | |
| sophisticated | [s@'fIstIkeItId] | изощренный, замысловатый |
| the most sophisticated martket | самый богатый рынок | |
| repository of gold | хранилище золота | |
| to make a round of... | совершать обход по | |
| nickname | прозвище | |
| old | старый | |
| funny | смешной | |
| explanation | объяснение | |
| to associate | ассоциировать | |
| cartoon | [k¸'tün] | карикатура |
| prime minister | премьер-министр | |
| money-chest | сундук с деньгами | |
| fascinating | ['f{sIneItIÎ] | прекрасный, очаровательный, зачаровывающий |
Exercises