A high school teacher asked her student to describe a bank. The first student replied, "It´s a place to keep your money." The second said, "It´s a place where you write checks against the money you have on deposit." A third offered, "It´s a place where you borrow money." Each student gave a correct answer. In the simplest terms they described the basic functions of banking: accepting deposits, processing checks and lending money. The students recognized that banks provide a service for those in need of a finance-related product.
Deposit accounts come in many forms. There are savings accounts, checking accounts, payroll accounts, business accounts, foreign currency accounts and trust accounts to name a few. Most offer checking privileges, others only passbook withdrawals. Some pay interest while others do not. Regardless of the type of account, the purpose is basically the same. People find bank accounts are safe and convenient for depositing checks and cash.
The types of borrowing accounts are just as diverse. Banks make loans to individuals to buy such things as cars, furniture, and appliances. They also make loans to business, to manufacturers, builders, merchants and loans to foreign countries.
Banks are different in different countries. In the United States of America, for example, commercial banks come in two main groups: national and state banks. National banks are chartered and supervised by the Federal Government. All nationally chartered commercial banks must hold membership in the central banking system - Federal Reserve System. State banks are chartered and supervised by the state in which they operate. State-chartered banks may join the Federal Reserve System provided that certain requirements are met.
1. GIVE THE RUSSIAN EQUIVALENTS.
On deposit, to borrow money, to process checks, to provide a service for, deposit accounts, foreign currency accounts, for depositing cash, to make loans, commercial banks, state banks, are supervised by, are chartered by, Federal Reserve System, national banks, to hold membership in, manufacturers, trust accounts, state-chartered banks.
2. GIVE THE ENGLISH EQUIVALENTS.
Выписывать чеки на сумму по вкладу, иметь деньги на счету, брать деньги взаем, обрабатывать чеки, давать деньги в долг, депозитный счет, счет заработной платы, предоставлять ссуду, коммерческий банк, банк штата, сберегательный счет, депонировать чеки и наличные, заемный счет, счет в иностранной валюте, выплачивать процент, банковская рабочая книжка, Федеральная Резервная Система, национальный банк, учреждать и контролировать; банк, учрежденный штатом; присоединиться к Федеральной Резервной Системе.
3. ANSWER THE QUESTIONS.
1. What are the basic functions of banking?
2. Who do banks provide services for?
3. What is the purpose of any account?
4. What forms do deposit accounts come in?
5. Do all deposit accounts offer checking privileges?
6. What is a borrowing account?
7. Who do banks make loans to?
8. What two main groups do banks in the USA come in?
9. Who are national banks chartered and supervised by?
10. Can state-chartered banks join the Federal Reserve System?