6. Match the words with the correct definition from the list below.

Top management, staff, commercial bank, organization chart, chief executive officer, audit, hoard of directors, branch banking.

1. Committee elected by shareholders to set the bank's policy and oversee the bank's performance.

2. Most common and most unrestricted type of bank, allowed the most latitude in its services and investments.

3. Chart showing the interrelationship of positions within an organization in terms of authority and responsibility.

4. Banks that offer a full range of services from multiple locations, inclu­ding a head office and one or more branch offices.

5. Key problem in an organization who make most important decisions.

6. Inspection of the accounting records and procedures of any reporting entity by a trained accountant, for the purpose of verifying the accuracy and completeness of the records.

7. Personnel in an organization.

8. Member of staff who has ultimate management responsibility for an organization. He reports directly to a board of directors.

IX. Read and translate the meanings of the following terms. Translate the sentences with them.

Check - l)is (banking) (US) cheque; 2) is a slowing down or stopping; 3) is an inspection or examination of the condition of something; 4) is (US) a bill issued in a restaurant.

1. He usually uses banking cheques. 2. Public spending has been held in check. 3. All our machines are given regular checks. 4. Ask the waiter for the check.

Deposit - 1) is a sum of money paid into a bank or savings account; 2) is a payment of part of a larger sum to be paid later, especially to prevent the goods being sold to someone else; 3) is a sum of money paid when borrowing or hiring something and given back if the item is returned undamaged.

1. He makes a regular deposit of $100 per month. 2. You are advised to deposit your valuables in the hotel safe. 3. I'd like to make a deposit. 4. Time deposits include savings certificates and small certificates of deposit. 5. The U.S. Treasury also maintains deposits at the Fed, for the Fed is the government's principal bank. 6. It is necessary to pay a 10% deposit to secure the goods.

Interest rate - is the cost of borrowing money expressed as a percentage of the capital borrowed.

1. The new interest rate is 11.5%. 2. Interest rate is relation between the payment received by a lender of money and the amount of money lent, expressed as a percentage per period of time.

Guarantor - is a person who promises to be responsible for or to repay another's debt.

1. The bank will give us a loan, but we have to find a guarantor first. 2. A guarantor in respect of an overdraft granted to an infant was held not liable to the bank when the infant failed to repay the loan.

Balance - is the difference between the total of money coming into (credits) and money going out of (debits) an account; the amount needed to make these totals correspond.

1. My bank statement shows a balance of $ 150. 2. A country, like a person, also must balance its accounts. 3. The official settlements balance is the sum of the current account balance and the capital account balance.