III. Answer the questions using the information from the text.

1. What is the central bank of the United Kingdom''

2. When was the Bank founded?

3. What is the other name of the Bank of England?

4. When was the Bank of England nationalized?

5. What is meant by the term 'the Government's banker'?

6. What core purposes does the Bank have?

7. What does monetary stability mean?

8. What is the first objective of any central bank?

9. What does financial stability mean?

10. What are the main functions of the Bank of England?

COMMERCIAL BANKS

I. Read and translate the text.

A commercial bank is a type of financial intermediary and a type of bank. Commercial bank has two possible meanings:

· Commercial bank is the term used for a normal bank to distinguish it from an investment bank.

This is what people normally call a “bank”. The term “commercial” was used to distinguish it from an investment bank. Since the two types of banks no longer have to separate companies, some have used the term “commercial bank” to refer to banks which focus mainly on companies. In some English-speaking countries outside North America, the term “trading bank” was and is used to denote a commercial bank. After the great depression and the stock market crash of 1929, the U.S. Congress passed the act requiring that commercial banks only engage in banking activities (accepting deposits and making loans, as well as other fee based services), whereas investment banks were limited to capital markets activities. This separation is no longer mandatory.

In Great Britain the term retail banks is used to include all of the banks which have branch networks through which they are able to offer a wide range of services to a large number of customers. Sometimes the term high street banks is used to mean the \same thing, and on occasions the term commercial banks is used, though less commonly these days.

II. Retell the text.

<== попередня сторінка	\|	наступна сторінка ==>
II. Read and translate the text.	\|	ENGLISH BANKS

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