Vocabulary

deposit n - вклад; депозит

depository n - депозитное учреждение (сберегательное учреждение, занимающееся приёмом вкладов)

depositor n - депонент; владелец банковского счёта

to withdraw v - 1. снимать со счёта 2. аннулировать

nondepository n - кредитное учреждение

commercial bank n - коммерческий банк

savings bank n - сберегательный банк

credit union n - кредитный союз

savings and loan association n - ссудо-сберегательная ассоциация

thrifts n - сберегательные кассы

savings account n - сберегательный счёт

mortgage lending n - ипотечное кредитование

insurance company n - страховая компания

pension fund n - пенсионный фонд

finance company n - финансовая кредитная компания

premium n - страховой взнос

monetary adj - монетарный; кредитно-денежный

to clear checks phr - осуществлять клиринг чеков (зачёт взаимных банковских требований и обязательств)

exchange rate n - валютный курс

to intermediate v - посредничать

checking account n - чековый счёт; текущий счёт в банке

home mortgage loan n - ссуда под залог на покупку дома

C&I loan n - ссуда торгово-промышленным предприятиям

secured loan n - обеспеченная (товарными ценностями) ссуда

unsecured loan n - необеспеченная (залогом) ссуда

to back v - гарантировать (заём)

collateral n - имущественный залог

to seize v - конфисковывать

mortgage n - ипотека; залог; закладная

line of credit phr - кредитная линия (договорённость между фирмой и банком о предоставлении кредита до определённого максимума)

revolving line of credit phr - револьверная (возобновляемая) кредитная линия

consumer loan n - потребительская ссуда

installment credit n - кредит с погашением в рассрочку

principal and interest n - капитал и проценты

principal n - сумма долга (на которую начисляются проценты)

interest rate n - ставка (норма) процента; процентная ставка

prime interest rate = prime n - «прайм-рейт»; привелигированная ставка

II. Comprehension exercises

1. Choose the correct alternative to complete each sentence:

1. In ancient times, men who bought the money of other countries and gave local coins in return were called money-makers / counterfeiters / money-changers.

2. The term banking comes from the German word bahn / the Russian word банка / the Italian word banco.

3. Financial institutions that accept deposits that customers can withdraw on demand are known as depository / nondepository institutions.

4. Commercial banks, saving banks, and credit unions are depository / nondepository financial institutions.

5. Saving banks / credit unions are owned and controlled by their depositors and are designed to serve consumers, not businesses.

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

7. Usually people save money for retirement in savings and loan associations / insurance companies / pension funds / commercial banks.

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

9. The largest and oldest of all financial institutions are central / savings / commercial banks.

10. The primary role of banks is to intermediate between buyers and sellers / savers and borrowers / debtors and lenders.

11. The bread-and-butter business of commercial banks is loans / securities / cash assets.

12. The loans that commercial banks make to businesses are consumer / personal / commercial and industrial loans

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

14. The most common type of secured loan is a/an installment / mortgage / line of credit.

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

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

17. Banks issue real estate loans to finance purchases of automobiles and durable consumer goods / buildings and other real property.

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

19. The lowest interest rate charged by banks for loans to their most creditworthy customers is known as a gift / premium / prime.

20. If you need to buy or sell some foreign currency, you should apply to a credit department / finance department / foreign exchange department of any commercial bank.