II. Retell the text. The national bank of ukraine

I. Read and translate the text.

The National Bank of Ukraine is governed by the Head of the National Bank of Ukraine and its directory, while its functions are coordinated by the Council of the National Bank of Ukraine. The council consists of 15 members including the Head of the National Bank as the ex-officio position. The other members of the council are appointed by an equal quota of seven members from the President of Ukraine and the Verkhovna Rada.

According to the Constitution of Ukraine, the main function of the National Bank is to ensure the stability of Ukraine's monetary unit. To carry this out the National Bank fosters the stability of the banking system and, within its competence, price stability.

The National Bank also carries out the following functions:

• to determine and pursue the monetary policy in accordance with the General Principles of the Monetary Policy developed by the Council of the National Bank of Ukraine;

• to issue the national currency of Ukraine on a monopoly basis and to organize its circulation;

• to establish the rules of conducting banking transactions, accounting and reporting, protection of the information, funds and property for the banks and other financial and credit institutions;

• to organize and to provide the methodological support to the system of the monetary, crediting and banking statistical information and the statistics of the balance of payments;

II. Retell the text. Types of banks

I. Study the vocabulary:

banking банківська справа

be engaged in (v) займатися

Central bank Центральный банк

the Federal Reserve System Федеральна резервна система

commercial bank комерційний банк

accept deposits (v) приймати вклади

make a loan (v) надавати позику

manage customers' accounts (v)вести рахунки клієнтів

merchant bank торговельний банк

investment bank інвестиційний банк

savings bank ощадний банк

savings account ощадний рахунок

Iі. Read and translate the text.

A bank is an institution that deals in money and provides other financial services. Banks are at the heart of any financial system.

Banking is the business a bank is engaged in.

There exist different types of banks but their names may vary from one country to another.

Central banks such as the National Bank (Ukraine), the Bank of England (UK) or the Federal Reserve System (US) look after the government's finance and monetary policy, act as bankers for the state and for commercial banks, and are responsible for issuing banknotes.

Commercial banks deal directly with the public. They offer a wide range of services such as accepting deposits, making loans and managing customers' accounts. The aim of commercial banks is to earn profit.

Merchant banks don't deal with the public. They provide services for companies. They specialize in raising capital for industry, arranging flotations, takeovers and mergers, and investment portfolios.

Investment banks are firms that control the issue of new securities (shares and bonds).

Savings banks are financial institutions that specialize in providing services such as savings accounts as opposed to general banking services.

IІІ.Answer the questions:

What is the bank?

What types of banks exist in most countries?

What functions do central banks perform?

What kind of institution is a commercial bank?

What is the difference between a national bank and a commercial bank?

What is characteristic of merchant bank (Investment bank, savings bank)?

IV. Translate into English:

Установа, надавати фінансові послуги, банківська справа, Національний банк України, піклуватись про монетарну політику, приймати депозити, надавати позику, прибуток, торговельний банк, придбання контрольного пакета акцій, Злиття, ощадний рахунок.

V. Read and translate the text.

VI. Retell the text.