Dialogue

( A banker's office in New York City, Mr. Smith, a Vice President, is speaking to Bill Wilson).

Smith O.K. Bill. As a secretary you ought to know certain things about banking.

BillThat's what 1 want. I hope to make my career in banking.

SmithAnd what bank services are you familiar with?

BillOh, let me see. I am familiar with checking and savings accounts, safety deposit boxes, insurance and things like that.

SmithIt is something.

BillBut I don't have a clear idea of the services which banks offer to business.

Smith O.K. Let's discuss it then. In f; . it is more directly concerned with what passes over my desk.

Bill I think businesses come to the banks for loans.

SmithYou are right. Banks make loans to corporations, to organizations, individuals and to small companies. For this service, we always charge interest.

BillBut how can a bank decide whether a business should receive a loan.

SmithFirst of all we request a financial statement. It shows what the company has in inventory, accounts receivable and other assets and liabilities. Profit and loss statement shows the company's income and expenses.

Bill In other words you look over the financial situation of a business.

SmithExactly. If the company is eligible for a loan, it may choose a long-term loan or a short-term loan.

Bill I see. And how much interest does the bank charge on these loans?

Smith It can be different. We have so-called prime-rate, that is the lowest interest rate available at the particular time. Only preferred customers can have it.

Bill Who decides on prime-rate then?

Smith Major lending banks do.

Bill Oh, I must know that. And very often I hear the term "a line of credit". I have a gigue idea what it is.

SmithA line of credit is the maximum amount of money that a company can borrow from a bank. This top amount of customer's credit is based on the profits and earnings of a business.

BillWell. Then it is very important to have a good line of credit, isn't it?

Smith Sure. A bank also issues letters of credit. Such letter says that its holder can borrow up a certain sum of money. Or a bank can also issue a letter of credit for a person who goes to the other country where another bank is involved. Then there is the credit reference letter which recommends a company to its suppliers, and well -I could go on all morning.

BillThank you. It's very useful information.

SmithO.K. We can pass on to a more complicated subject.That is tax service.

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Exercise 1. Make the sentences negative.	\|	Exercise 2. Make transformations according to the model.

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