Translate the following phrases from Text A.

1) to offer a range of smth; 2)to result in huge losses; 3) financial activities; 4) to be helpful for salaried people and low income groups; 5) to invest money in bonds and securities; 6) to carry the functions of savings banks; 7) to give short-term loans to businessmen by way of cash credits and overdrafts; 8) money remittance from one place to another place; 9) to collect cash by issuing shares & debentures; 10) to provide long-term loans for expansion and modernization of industries.

Find in Text A the equivalents to the following phrases.

1) надавати різні послуги; 2) фінансовий посередник; 3) фінансова допомога клієнтам; 4) об’єднати тих, які мають дефіцит фінансових коштів з тими, хто має надлишок; 5) залучати гроші фізичних осіб; 6) основна ціль; 7) вексель; 8) довготермінові кредити; 9) збір чеків; 10) отримати прибуток.

Read and translate the text. Pay attention to sentences containing the passive forms. Make up a plan of the text.

Text A

Types of banks

Bank is an institution without which we will find it hard to think of financial activities. Banks are something on which economy of the whole world depends.

Technically, bank can be defined as a financial institution as well as a financial intermediary which works for its customers’ financial help. So in other way, we can term bank as a channel which connects those who are having financial deficit to those having surpluses.

There are banks of different types.

Central / Federal / National Bank

Every country of the world has a central bank. In India, Reserve Bank of India, in the USA, Federal Reserve and in the U.K, Bank of England. These central banks are the bankers of the other banks. They provide specialized functions, i.e. issuing of paper currency, working as bankers of government, supervising and controlling foreign exchange. They act as the lender of last resort. A central bank is a non-profit making institution. It does not deal with the public but it deals with other banks. The principal responsibility of Central Bank is thorough control on currency of a country.

Commercial Banks

Commercial banks are established with an objective to help businessmen. These banks collect money from general public and give short-term loans to businessmen by way of cash credits, overdrafts, etc. Commercial banks provide various services like collecting cheques, bills of exchange, money remittance from one place to another place.

Saving Banks

Saving banks are established to create saving habit among people. These banks are helpful for salaried people and low income groups. The deposits collected from customers are invested in bonds, securities, etc. Most of the commercial banks carry the functions of savings banks. Postal department also performs the functions of saving banks.

Investment banks

Investment banks most often work with firms, or consumers with large quantities of savings. Most investment banks offer a range of investment portfolios with varying levels of risk. Experts at these financial institutions will aim to get the most out of investment opportunities; customers hand over their savings in order to gain returns. Of course, this method of making money is not always successful, and can result in huge losses.

Industrial Banks / Development Banks

Industrial / Development banks collect cash by issuing shares & debentures and providing long-term loans to industries. The main objective of these banks is to provide long-term loans for expansion and modernization of industries.

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