ЗАДАНИЯ ДЛЯ СТУДЕНТОВ ВСЕХ ЭКОНОМИ ЧЕСКИХ СПЕЦИАЛЬНОСТЕЙ НА III СЕМЕСТР

TEXT 1 BUNDESBANK

The function of German Bundesbank is similar to that of the central bank of any state. It must support the economic policy of the federal government. It looks after the stability of German

and regulates the amount of money in circulation. For this purpose it sells or buys securities and raises and lowers the discount rate. It also provides higher minimum reserves which the commercial banks must keep to pay debts to Federal Reserve Bank. It can also lower the rate to make more money available for the economy.

Ten central banks of Germany are representatives of the top management of the Bundesbank. Besides, there are commercial and cooperative banking institutions. All the banking institutions must observe the credit law. There is a special commission to watch this law and to make customers’ savings safe.

All business transactions can’t be done without bank services. Each business has checking account for current payments and incoming money. A customer can send and open check for his supplier. Such check can be cashed at the bank, but money is usually transferred into the supplier’s account. After each business transaction, a clerk checks a balance and a customer gets a bank statement with the current balance. Sometimes it happens that the check is not covered and the account is overdrawn.

All these services do not bring a great deal of money to the bank. Banks usually make profit by giving loans under interest. Most Germans have saving accounts. The bank pays them dividends

which are much lower than the interest the client has to pay for a loan taken. The customer can receive a long-term credit for business against the collateral and pay it off by installments.

Banks run a great business in stock market. Thus, the banks buy and sell shares or securities with a fixed interest rate, like bonds or loans and receive a broker’s fee for it.

currency – валюта

securities – ценные бумаги

discount rate – учетная ставка

interest rate – процентная ставка

business transaction – деловая сделка

checking account – специальный счет, с которого снимаются деньги по чека клиента

supplier – поставщик

to cash check – обналичивать чек

a bank statement – выписка из счета

to overdraw the account – превышение кредита; снять со счета сумму, превышающую количество денег на счете

to give loans under interest – давать ссуды под процент

collateral – залог

bond – broker’s fee broker’s fee – плата за брокерские услуги

TEXT 2 BANKING

Banking is business connected with money lending, borrowing, investing and servicing. Banks provide a whole range of services for individuals. A customer can open a current account with the bank. From now the bank will keep his money safe for him until he wants to spend it. In a few days the bank will supply the customer with a checkbook instead of carrying a lot of cash.

If the customer wants to buy something he makes out a check. The shop will send the check to its account at its own bank. The shopkeeper’s bank will pass the check on to the customer’s bank and the money will be transferred from one account to the other. Automatic check processors sort millions of checks a day. The electronic eyes read the details on each check which are then recorded on the bank’s computers against the current accounts. So the more people use checks to pay for things the less they need to move cash from one place to another.

Another convenient way of paying for things is a credit card. In England most credit cards are provided by companies owned by the banks. The customer doesn’t need to carry cash or a checkbook. Instead he uses his credit card which allows him to spend up to a limit which has been agreed. At the end of a month the card holder receives a statement showing what he has spent. He can then pay for all purchases with one check either by posting it off to the company or by paying it into the bank and the bank can help to make it easier to pay other bills as well. It’s easy to send a check by post or use the bank credit system available at every bank branch. There are some payments which customers have to make regularly, for e. g. insurance and rent payment. In this case there is no need to make out any checks at all. Instead the customer signs a standing order or a direct debit mandate and the bank sees that the regular bill is paid every month if the customer keeps enough money on his account. It’s easier to pay by credit cards, especially when wage is paid directly into the bank account.

lend – одалживать деньги, давать взаймы

borrow – занимать деньги

range – диапазон, ассортимент, ряд

current account – текущий счет

a statement - выписка из счета

to pay bills – оплачивать счета

rent payment – оплата за аренду, квартиру

wage – зарплата

standing order/ direct debit mandate – постоянное поручение (распоряжение, выданное клиентом банка выплачивать в указанный день определенную сумму денег конкретному получателю платежа)

TEXT 3 SERVICES PROVIDED BY THE BANK

Investment in shares can be made through any branch of the bank on behalf of the customers. All quoted stock exchange securities can be bought or sold with maximum security and minimum formality through the bank. Being in constant touch with leading stock brokers, the bank is in position to obtain information regarding all classes of stocks and shares in which customers may be interested. Shares may be bought or sold without any charges beyond those payable to a stockbroker, and the bank is responsible for the proceeds of a sale and for the delivery of the certificate on a purchase. An investment report service is also available for the customer who needs a portfolio being managed individually. In addition, professional advice can be given on investments in foreign stock not quoted on the London Stock Exchange.

Share certificates, documents, jewellery and valuables can be stored in special depositories of the bank.

The bank also provides a permanent service for personal income tax payers by checking tax liabilities and preparing tax returns and claims. If the sources of income and allowances are complicated, it is not easy to know for the individual if he is paying the right amount of tax. The bank helps the customer on particular problems resulting from Capital Gains Tax (CGT) and Capital Transfer Tax (CTT).

Insurance need not be a problem for the bank customers either. Insurance cover for life, house accident or anything else may be effected through any bank insurance. This is the service which employs highly experienced brokers in this field. They can usually provide the best possible terms consistent with absolute safety.

No matter what the customer’s age is, it is a wise and considerable precaution to make a will. When one dies, it will be his executor’s responsibility to protect and to distribute the property in accordance with his last will. The appointment of the bank as the will executor ensures that the estate will be dealt with efficiently and in strict confidence.

on behalf of – от лица

share – акция

quoted stock exchange securities – ценные бумаги, котированные на бирже

proceeds of a sale – продажа ценных бумаг на внебиржевом рынке с использованием выручки для покупки других бумаг

certificate on a purchase – лицензия на покупку/документ, подтверждающий право приобретения

investment report – отчетность о состоянии вклада/ инвестиций

foreign stock – иностранная акция, ценная бумага

personal income tax payers – подоходный налог, взимаемый с частных лиц

tax liabilities – задолженность по налоговым платежам

tax return – налоговый доход, налоговая декларация

allowances – денежные пособия/содержание

Capital Gains Tax (CGT) – налог на доход от прироста капитала

Capital Transfer Tax (CTT) – налог на передачу капитала

insurance – страхование

to make a will – составить завещание

the will executor – судебный исполнитель по завещаниям

estate – имущество, недвижимость

TEXT 4 LONDON STOCK EXCHANGE

The origin of the London Stock Exchange goes back to the coffee houses of the 17^th century, where those who wanted to raise and to invest money bought and sold shares of joint stock companies. Brokers later opened their own subscription room, and in 1773 this was named the Stock Exchange. During the 19^th century the Stock Exchange developed as the demand for capital and grew with Britain’s Industrial Revolution. The Exchange also financed the construction of railways, bridges and dams across the world. Today it is one of highly organized financial markets of the City. It provides trading platform for Government securities and the means of raising capital for British and foreign companies. The official list is the main exchange market, while AIM is the Exchange new market for smaller companies. It opened in 1995. Companies which apply for a listing on the Exchange must provide a full picture on their operations, including their financial record, management and business prospects. If the company wants to join AIM the rules are less strict. Such companies include multimedia and high technology business.

Today the Exchange has moved away from dealing on the trading floor to automatic quotation systems of dealing from member firms offices. The quotations are displayed on an electronic screen. Before 1986 only British companies were allowed to operate. In 1986 deregulation, known as “the Big Bang” allowed any financial institution to participate in London money market. Other changes involved a system under which negotiated commissions were allowed instead of fixed rates and dealers are permitted to trade in securities both as principals and as agents. Traditional retail stockbrokers are facing growing competition from operations running by large banks.

The exchange has its administrative center in London with regional offices in Belfast, Birmingham, Glasgow and Leads and Manchester.

share – акция

subscription room – зал для подписки на акции

joint stock company – акционерное общество

Stock Exchange – фондовая биржа

Government securities – государственные ценные бумаги

list – перечень ценных бумаг, курсовой бюллетень

to list on the Stock Exchange – зарегистрироваться на фондовой бирже

trading floor – операционный зал фондовой биржи

to negotiate- оговаривать условия, договариваться

commissions – комиссионные

rate – процентная ставка

principal – принципал – лицо, уполномочивающее другое лицо действовать в качестве агента; глава, хозяин

an agent – агент, посредник

deregulation – прекращение регулирования, изменение закона

TEXT 5 COMMODITY EXCHANGES, AUCTIONS, TENDERS

(FOREIGN TRADE)

Commodity exchanges deal in raw materials and some products, such as cotton, wheat, vegetable oils, etc. as these goods can be accurately graded and these grades practically remain unchanged every year. The goods are bought and sold at commodity exchanges according to grades or standards, and on the basis of standard contract terms. And commodity exchanges are called accordingly: the Wheat Exchange, the Metal Exchange and so on.

Thus for example, in Great Britain you can take part in sessions at the London Metal Exchange, the London Commodity Exchange dealing in cocoa, rubber and sugar, the Liverpool Cotton and Corn Exchanges or the Bradford Wool Exchange, Yorkshire.

Nowadays Commodity Exchanges are losing their role as markets of physical goods and are becoming mainly futures exchanges where dealsare chiefly made for speculation purposes or hedging.

The goods like fur, tea, bristles, spices whose quality varies from year to year, from lot to lot can’t be accurately graded and are sold in auctions according to sample (on a tale quale basis).

Before the auction begins, the lots are inspected by future buyers and then sold to the highest bidder.

Horses or other animals are also sold and bought at auctions.

Trade by tenders is frequently used in developing countries for construction work or for delivery of goods. General terms and conditions of the future deal are announced beforehand and the contract is given to the Suppliers who offered the lowest prices and the most favourable terms.

International auctions in our country have been held since 1931.

commodity exchange – товарная биржа

goods – товар

raw material – сырье

grade – сорт, качество

to grade – сортировать

contract terms – договорные условия

futures exchanges/market – фьючерсная биржа – современная форма товарной биржи, торговля на которой ведется фьючерсными контрактами - контрактами на поставку различных товаров в будущем; торговлю на фьючерсной бирже отличает фиктивный характер сделок: лишь 1-1% сделок завершаются поставкой товара, а остальные – выплатой разницы в ценах

hedging – хеджирование – форма страхования цены и прибыли путем заключения срочной сделки, т.е. сделки на срок, например, торговец , купивший партию товара , страхует себя от возможного падения цен путем продажи на срок такого же количества товара

lot – серия, партия товара

sample – образец

tale quale basis – на условии тель –кель (такой как есть) –условие продажи без гарантии качества, т.е. условие об освобождении продавца от ответственности за ухудшение качества товара во время перевозки

highest bidder – покупатель, предложивший самую высокую цену на торгах

tender – официальное предложение уплатить долг; сумма, вносимая в уплату долга