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Give Russian/ Belarusian equivalents to the following banking terms.
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1. (at) sight /after sight (or 30 D/S) по предъявлении
2. (the) bill is due/ at maturity
3. account
4. auditing rules
5. backroom of the financial system
6. bank /domiciled bank/ central bank / issuing bank /merchant bank/ paying bank/ commercial bank/ confirming bank
7. bank bail-out
8. bank notes
9. bankruptcy
10. bill /bill of exchange (B/E)/draft/ usance bill вексель с оплатой в конце обусловленного периода, срочный вексель
11. bill of lading
12. binding form of payment
13. Board of Governors
14. bullion market
15. cash against documents transaction (CAD)
16. certificate of inspection
17. certificate of origin
18. charter/ to charter
19. check/ to clear checks
20. checking account
21. claim/outstanding claims неоплаченная претензия
22. clean bill чистый вексель
23. code of practice
кодекс профессиональной этики
24. collateralised debt obligations (CDOs) обеспеченное залогом долговое обязательство
25. commercial invoice коммерческий счёт
26. consular invoice консульский счёт-фактура
27. corporate customer (entity) юридическое лицо
28. counterfeiting
29. credit crunch кредитный кризис
30. currencies
31. current account
32. customs form
33. damage/to damage
34. deposit account
35. deposit, depositor
36. derivatives производные инструменты
37. direct (automatic) debit
38. dishonoured bill встречный вексель
39. dispatch the consignment
40. documentary credit документарный аккредитив
41. documents against acceptance (D/A) transaction документы против акцепта
42. documents against payment (D/P) transaction
43. draw/ drawee/ drawer
44. earning assets доходные активы банка
45. economic variable экономический показатель
46. emergency liquidity
способность банка своевременно выполнять обязательства
47. Eurobond еврооблигация
48. facilities /commercial bank facilities
49. fair-value accounting учёт по справедливой стоимости
50. Federal Deposit Insurance Corporation Федеральная корпорация по страхованию вкладов
51. Federal Reserve System (Fed)
52. Fee
53. foreign exchange market рынок иностранных валют
54. free trade area/zone
55. giro system/ the bank giro system система жиросчетов
56. government bonds
57. guarantee/ guarantor/ guarantor bank
58. hedging страхование от потерь
59. insolvent
60. insurance
61. insurance certificate
62. interest /interest rate
63. International Chamber of Commerce (ICC)
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64. Invoice
65. IOU долговая расписка
66. legal tender законное средство платежа
67. lending/ to lend
68. letter of credit аккредитив (LC) /revocable отзывной / irrevocable letter of credit безотзывный аккредитив / standby letter of credit резервный аккредитив
69. leverage использование заёмного капитала; левередж; соотношение между собственными и заёмными средствами; рычаг (увеличение дохода или стоимости без увеличения капиталовложений (напр., в срочной сделке для получения определенной прибыли нужно иметь меньше средств, чем в наличной); для этого могут использоваться опционные контракты, варранты и другие инструменты
| 70. Loan 71. Market 72. negotiable orders of withdrawal account текущий счёт с выплатой процентов и списанием по безналичным расчётам |
(NOW-account)
73. new issue market первичный рынок ценных бумаг
74. overdraft
75. payment/ payee
76. placement/ to place shares
77. private customers’ accounts
78. rate of discounting норма дисконтирования
79. receipt
80. redemption изъятие из обращения / to redeem
81. repayment / rent / mortgage repayments
82. savings account
83. securities/ subprime-asset-backed securities
84. securitization секьюритизация активов (финансовая операция, заключающаяся в трансформации низколиквидных активов в ценные бумаги, обеспеченные денежными поступлениями от исходных активов, в результате которой происходит перераспределение риска между первичным владельцем активов, гарантом и инвесторами. Например, выпуск банком ценных бумаг, обеспеченных залогом прав требования по действующим кредитам
85. security / negotiable security (свободно) обращающаяся [оборотная] ценная бумага
86. settlement
87. shipping
88. shipping documents
89. sight bill вексель до востребования
90. standing order
91. statement /account statement
92. store of value
93. structured investment vehicles (SIVs) структурированные средства инвестирования
94. swap соглашение об обмене обязательствами/credit-default swaps своп на дефолт по кредиту
95. SWIFT/ the International Bankers’ Computerized Transfer of Funds Международная межбансковская система передачи информации о совершении платежей
96. to accept the bill
97. to clear the bill
98. to discount a bill учесть вексель
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99. to protest a bill
100. transaction
101. transfer
102. Uniform Customs and Practice for Documentary Credits (UCP) унифицированные правила документарных аккредитивов
103. unit of account
104. US Treasury
105. Usance срок оплаты векселя, установленный торговым обычаем
106. valid until
107. whopping
108. write-downs
Read texts 1 - 4.
3. Study the following, paying attention to the terms and their contextual usage:
A) banking history;
b) banking operations;
c) types of bank accounts;
d) lending and borrowing;
e) credit facilities;
f) central bank functions;
G) international banking facilities.
4. Pick out the abbreviations; give their full forms and their Russian/ Belarusian equivalents.
Pick out the idiomatic expressions and give their Russian/ Belarusian equivalents.
6. Transfer the non-equivalent lexemes into Russian/ Belarusian using the corresponding rules.
Text 1
Development of Banking
A bank is a business with its purpose to make profits for its owners (shareholders). It holds deposits and lends money to those who have to borrow to finance current expenditures. It makes its profit by charging more for its loans than its pays its depositors.
Banking is an old business dating back to ancient Babylon. But as far as modern banking is concerned it is believed to originate from the époque of Renaissance. Bankers of those times Italy dealt not only with buying and selling currencies but also with taking demand and time deposits. The word “bank” derives from the Italian “banka” (bench), i.e. the working place of an ancient banker and “bankruptcy” comes from the Italian custom of breaking the bench of insolvent banker who owed much to his creditors.
The first banking house was associated with goldsmiths who took in their customers’ silver and gold for safekeeping. For that, they had strong vaults as part of their business and stored valuables in them for others. They then discovered that they could lend such coins out, keeping just a certain proportion as a reserve, since not all customers would come in for repayment at the same time. They might well have realized that some of their depositors’ valuables that had not been disturbed for years could be loaned. The goldsmiths issued a receipt for valuables and charged a fee (service charge) for the service. Thus the receipt would become in effect a check. As long as it was accepted as a means of payment it could circulate as money. Eventually, to make such transfers more convenient they issued receipts in round-number sums. These receipts thus became private bank notes, i.e. currency note issued and repayable on demand by the banker.
The goldsmiths who had the initial deposits would, of course, be unaware of what was happening to their receipt and in fact they would not care. But they would realize that the valuables on which the receipt was issued rested in their vault year after year.
Now suppose the holder of the receipt went into debt. The debts could be paid by transferring the receipt to the person to whom the debt was owed. The goldsmiths would of course charge interest on the loan. And so began the early development of modern banking operations.
Presently, banking system is considered to be veins of the economy. All over the world the place of the state in the banking system is represented by central banks and private banks are generally divided into merchant banks and commercial banks in compliance with the operations effected. Merchant banks are involved in money lending to organizations and other corporate customers (entities) and while the facilities they offer are similar to those they offer to commercial banks, the former specialize in international trade and finance, discounting bills (учет векселя), confirming credit status of overseas customers through confirming houses (комиссионная фирма), acting in the new issue market (placing shares) and in the bullion and Eurobond (government bonds) market. They are also involved in shipping, insurance and foreign exchange markets.
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Commercial banks offer similar services but are particularly interested in private customers’ accounts, encouraging them to use their current account, deposit account, saving account, and credit facilities, they will lend money against security, in the form of overdrafts and loans, pay accounts regularly by standing orders, and transfer credits through the bank giro system. Essentially, the difference between the merchant and commercial banks is the latter’s availability to customers with their numerous branches throughout a country or worldwide, their low charges and the laws which govern the way each bank handles its affairs.
Interest Rate
The interest rate which the commercial bank charges borrowers and pays to depositors is influenced by the interest rate which is quoted from time to time by central banks of the states. If the central bank recommends that the interest rates will have to rise then the commercial banks and most other financial institutions will also raise their interest rates.
A rise in the interest rate will make borrowing more expensive and saving more attractive.
The government through the central bank may use the interest rate to regulate the economic climate of the country. This means that if borrowing becomes more expensive, businessmen will become more reluctant to borrow and expand their business but if it falls then they will probably become more active.
Creation of Credit
Lending receipts
It might now occur to some goldsmiths that instead of lending gold to their borrowers they could just lend receipts. In fact, they could write receipts to an amount in access of the gold they had in their vaults. As long as the goldsmiths were the only ones to know that there was not enough gold to back the receipts, there would be no problem. It is not the fact that there is gold in the vaults that enables the receipts to circulate as money. It is only important that people think there is gold in the vaults.
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