Vocabulary

cybertechnologies – кибернетические технологии

adjust – улаживать, выверять, корректировать

electronic funds transfer system – электронная система платежей

withdraw – 1) снимать со счёта 2) отменять, аннулировать

demand-deposit account – текущий счёт (вклады, которые могут быть

востребованы в любой момент)

automated teller machine – автоматическая кассовая машина

(электронный терминал, с помощью которого

осуществляются различные банковские

операции)

access code – код доступа

draw out – снимать (деньги)

debit card – дебетовая карточка

smart card – смарт-карта

community banks – банки различных сообществ; банки (США), активы

которых не превышают $1 миллиарда и не входящие

в конгломерат банков Федеральной резервной системы

issue securities – (зд) выписывать, пускать в ход ценные бумаги

booms and busts – бумы и депрессии

bottom line = net income – нижняя строчка в финансовом отчёте - «чистый

доход»

credit line – лимит кредита (максимальный размер предоставляемого

кредита)

loan application – заявка на получение займа

submit – передавать; представлять на рассмотрение

loan approval – одобрение, утверждение кредита

sprawling – разветвлённый, разрастающийся

computerized processing centre – компьютеризированный центр по

переработке информации

total bank capital – объём банковского капитала

COMPREHENSION QUESTIONS

1. How can you explain the term cybertechnologies ? How do сyber-

technologies influence our every-day life?

2. Explain what is meant by electronic funds transfer systems.

3. How are automated teller machines used in electronic banking?

4. Discuss newer electronic forms of money – debit cards and smart cards.

5. Why can we affirm that the subject of money and banking is unavoidably

international in the twenty first century?

6. What are new trends in banking business of the digital age? How are

computers changing the ways in which banks operate?

7. What do banking-industry experts think about tomorrow’s bank?

II. Vocabulary practice exercises

1. Translate the following groups of words into Russian:

to intermediate between savers and borrowers; insurance companies, pension funds, and commercial and consumer finance companies; primary sources of funds; wire transfers and financial counseling; low-cost traveler’s checks; automatic overdraft protections; foreign exchange trading; bank cash reserves; to perform monetary services; to supply currency and clear checks; a depository for the federal government; interest earned on loans; premiums paid by policyholders; commercial mortgages; passbook savings accounts; NOW accounts and time deposits; the bread-and-butter business; commercial and industrial loans; to meet day-to-day cash needs; secured and unsecured loans; to repay the loan; to arrange a revolving line of credit; to extend installment credit; the principal and the interest; to exceed one’s credit ceiling; to pay off one’s loan balance; real estate loans; the government securities; media of exchange; vault cash; cash withdrawals; the excess of assets over liabilities; equity capital or net worth; the upper limit of the interest rate; the prime interest rate; because of supply and demand; to take advantage of electronic transfer systems; to transfer wages directly to employee accounts; banking transactions on a 24-hour basis; personal access codes; implementing electronic forms of money; debit cards and smart cards; full-service financial supermarkets; worldwide linkages; to submit on the Internet; computerized banking.

2. Find the appropriate words and word-combinations for the following

definitions and fill in the wordbox below:

1. Loan requiring no collateral but a good credit rating.

2. The most common type of secured loan in which a piece of property like a

building is used as collateral.

3. Plastic cards that include an embedded chip to store money drawn from

the user’s demand-deposit account and information that can be used for

purchases.

4. Lowest rate of interest charged by banks for short-term loans to their most

credit-worth customers.

5. Arrangement in which the financial institution makes money available for

use at any time after the loan has been approved.

6. Payment made via telephone lines or through fiber-optic cables.

7. Trading one currency for the equivalent value of another currency.

8. The excess of assets over liabilities.

9. The percentage return, or percentage yield (доход по ценным бумагам),

earned by the holder of a financial instrument.

10. Currency that a depository institution holds on location to honor cash

withdrawals by depositors.

11. Plastic cards that allow the bank to take money from the user’s demand-

deposit account and transfer it to a retailer’s account.

12. Amount of a debt, excluding any interest.

13. The world’s largest computer network.

14. A written order to a bank to pay on demand a specified sum to a named

person or business.

					1					C
								2		O
								3		M
						4				M
	5									E
							6			R
7										C
						8				I
9										A
						10				L
							11			B
		12								A
								13		N
					14					K

3. Choose the correct alternative to complete each sentence:

1. Commercial banks, thrifts, and credit unions are deposit / nondeposit financial institutions.

2. Insurance / finance companies specialize in making loans to relatively high-risk individuals and businesses.

3. Customers may buy the currency of some other country in a credit / foreign exchange department of any bank.

4. The majority of the bank cash reserves of a country are held by commercial / central / savings banks.

5. NOW accounts is the abbreviation for new online withdrawal / negotiable-order-of-withdrawal accounts.

6. Savings accounts that permit limited checking privileges are known as money market deposit accounts / passbook savings accounts.

7. Share draft accounts are offered to depositors by savings banks / pension funds / credit unions.

8. Loans / securities / cash assets compose the predominant category of assets held by commercial banks.

9. Loans backed by something of value, known as collateral, are called secured / unsecured loans.

10. Companies that want to be sure of obtaining credit when needed should arrange a line of credit / a revolving line of credit.

11. When an individual borrower wants to repay the principal and interest in equal periodic payments he (she) obtains installment / revolving credit.

12. The most widely used form of consumer revolving credit are debit / credit / smart cards.

13. Banks issue real estate loans to finance purchases of automobiles and durable consumer goods / buildings and fixtures.

14. Bank assets that function as media of exchange are loans / cash assets / securities.

15. Checking, savings, and small denomination time deposits refer to controllable / noncontrollable liabilities.

16. The sum borrowed from a bank is called the principal / the rate, and the percentage paid is called the principal / the rate.

17. Electronic funds transfer systems / automated teller machines are electronic terminals that permit people with plastic cards to perform simple banking transactions 24 hours a day without the aid of a human teller.

4. The first wordbox contains the terms used in banking. Try to find their Russian equivalents listed in the second wordbox and match each term with the definitions below:

letter of credit; Cashier; reserve currency;

Controller; installments; creditworthiness;

clearing; default risk; debtor;

banker’s order; yield; floating exchange rate;

клиринг; платёжное поручение банка; выплаты в рассрочку;

риск дефолта; резервная валюта; аккредитив;

должник; доход по ценным бумагам; кредитоспособность;

Кассир; Финансист-контролёр; плавающий валютный

курс;

1. Regular part payments of debts are called ……………

2. ……….. is the bank officer who controls all financial records, and

supervises the bookkeeping, auditing, and accounting of the bank.

3. ………...is the chief legal administrative officer of a bank who is

responsible for the custody of the bank’s assets and must sign all official

documents.

4. An instruction to a bank to pay fixed sums of money to certain people at

stated times is termed ………. .

5. ……….. is a person, company, or country that has borrowed money.

6. A relatively stable currency held by central banks that can be used in

international trade (e.g. US$, Euro) is known as ………. .

7. The rate of income an investor receives from a security is called ……. .

8. ……….. is the process by which checks and other payments are passed

through the banking system.

9. A lender’s estimation of a borrower’s present and future solvency is

called ……. .

10. The chance that an individual, a firm, or a country may be unable to honor

their obligations to repay the principal and / or to make interest payments

is classified as ………….. .

11. When supply and demand for foreign exchange determine the value of a

nation’s money we talk about ……….. .

12. …………. is a document issued by a bank, authorizing another bank or

individual to draw a bill against the issuer for a certain amount of money

within a specified time.