Merchandise, currency, commercial, foreign exchange, to finance, to supervise, to charter.

1. Federal government … and … all national banks.

2. International cooperation between banks makes it possible … imports and exports.

3. It is possible to convert American dollars to Swiss francs in … department.

4. The … of Germany is the mark.

5. All … banks make loans to borrowers.

6. If the importer buys … from another country he will pay for it in the currency of this country.

Exercise 2. Answer the questions.

1. Is there a difference between banking systems in Russia and western countries?

2. What bank services are you familiar with?

3. Do the banks in this country have safety deposit boxes?

4. Whom do the banks make loans to in this country?

5. What kind of loan would you prefer, long-term loan or short-term loan?

6. What prime-rates are available in this country?

7. What does the line of credit of the enterprise depend on?

8. What is a credit letter written for?

9. What can one do with credit reference letter?

Grammar exercises

Exercise 1. Make the sentences negative.

Model: This commercial bank had already stopped to exist when the war started.

This commercial bank hadn’t stopped to exist yet when the war started.

1. He had already changed currency when I rang him up yesterday.

2. They had already chartered the commercial bank when I organized my private café.

3. He had looked over the financial statement by five o’clock yesterday.

4. My brother had made a career in banking when he was 26.

5. He had put all his money on his savings account before the money reform was introduced.

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