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Globalization of Banking.

The rapid geographic expansion and con­solidation of banking units (to reach) well beyond the boundaries of a single nation (to encompass) the entire globe. Today the largest banks in the world (to compete) with each other for business on every continent. In recent years Japanese banks, (to lead) by Dia-Ichi Kangyo Bank and Fuji Bank, (to grow) much faster than most of their competitors worldwide due to the strength of the Japanese economy. Huge banks (to headquarter) in France (led by Caisse Nationale de Credit Agricole), West Germany (paced by the Deutsche Bank), and Great Britain (led by National West­minster Bank) also (to become) heavyweight competitors in the global market for corporate and government loans. Deregulation (to help) all of these institutions (to compete) more effectively with U.S. banks. More­over, these leading international banks (to score) sharp gains in global market shares, along with growing shares of the domestic U.S. market.


1. What is meant by “globalization of banking”?


Ex.12. Carefully explain the meaning of the following terms.

Bank account; bank advance; bank bill; bank card; bank certificate; bank charges; bank draft; bank guarantee; bank holiday; bank loan; banknote; bank rate; bankable; banker’s cheque; banking.

Ex. 13. Give 2-3 sentences of your own, using each word given below, to show that you understand the difference in the shades of their meanings.

Defend, protect, secure, insure, ensure, guarantee.



Ex. 14. Join the halves. Translate the sentences into Russian.


1. Many savers lack the financial expertise

2. Banks are closely watched because

3. Cameras and guards patrol banks

4. Banks are regulated because they provide

5. Fed services are available on the same terms

6. Banks are a source of jobs and satisfying

7. Credit analyst and loan offices need professional training in

8. Branch managers must know how to manage and motivate people

9. Regulation acts as a safeguard against such losses

10. All banks charted by the Controller of the Currency are

11. Consumers also receive help in managing their property

12. Personal bankers must have excellent interpersonal skills

13. Discrimination in the granting of credit would represent a significant obstacle


a) by providing deposit insurance and by periodically examining bank policies.

b) individuals and institutions with loans which support consumption and investment spending.

c) to personal well-being and an improved standard of living.

d) to other depository institutions keeping reserve deposits at the Fed.

e) and in-depth knowledge of the bank’s menu of services.

f) and in building an estate for retirement or other purposes.

g) and how to represent the bank well in the local community.

h) and depth of information to correctly evaluate the riskness of a bank.

i) of their power to create money in the form of readily spendable deposits.

j) designated member banks.

k) accounting, financial statement analysis, and business finance.

l) professional careers for millions of people.

m) lobbies to reduce the risk of loss due to theft.


Ex. 15. Match each job title on the left with the correct definition on the right.

1. tax inspector 2. tax consultant 3. bank manager 4. commodity trader 5. accountant 6. finance director 7. market analyst 8. financial advisor 9. insurance broker 10. stockbroker a) The person who is responsible for an individual bank. b) Someone who advises people on how to manage their financial affairs. c) Someone who prepares an individual’s (or company’s) tax return. d) The person who is responsible for the financial side of running business. e) A government official who checks that you are paying enough tax. f) The person who finds you the best insurance policy at the best price. g) Someone who buys and sells stocks and shares for clients, and charges a commission. h) Someone who comments on business and share prices in a particular sector of the economy. i) Someone who buys and sells things in large quantities, especially food products such as tea, coffee, cereals, and other raw materials.


Ex.16. Read the following text. Define the key-words of each paragraph. Put them down. Exchange the notes with your partner and retell the text using the key-words.


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