Лекция: Up to Date Banking

Bank is an organisation that holds money, important documents and other valuables in safe keeping, and lends money at interest. It may also arrange mortgages and insurance, and be involved in a number of financial trading activities.

Quintrop, one of the Northland's leading banks is to begin exporting computerized banking systems to the USA, Europe and the Far East. The bank, which is well known for being at the forefront of electronic banking, is confident that there is a world- wide market for its state-of-the-arts solution to the rapidly changing needs of international banking. «What we intend to do». Says Managing Director John Seddon, «is to make available the bank of tomorrow, that is a one-located bank which can meet all banking needs, business and retail, on the spot, by means of banking know — howcombined with advanced computer technology». Quintrop'srise to electronic market leadership began in 1985, when it established a subsidiary company, Quintrop Computer Services, for the solepurpose of selecting hardware, developing sophisticated software applications and building a comprehensive on-line network for the bank.

All the bank's260 domestic branches have been connected to the network since 1989, shortly after which the key branches abroad in London, Hong Kong and Bermuda went on- line. The bank's other international branches in 21 countries were linkedto the network in 1990. More than 2000AJS/500 terminals have been installed in the network, with control and data being concentrated at the host side.

Among the real-time software packages which the bank has designed and operated, and which it now intends to market is the Sylvia system. This integrates communications System, a branch system including management clerical and teller functionsand an ATM function. A notable application module in theSylvia system is the dealing room package, which aids dealer performance by providing currency positions and other real- time data such as cash flow management and automatic confirmationofdeals.

A portfolio and trust management system isalso available, which includes asecurities facility providing an on- line real- time connection to the stock exchange. Purchases can be made via a terminal, and the whole operation is paperless. A feature which Quintropis developing as part of its concept of tomorrow's bank is a display-service whereby corporate customers will be able to interface personal computers directly with the bank's network by means of the telephone line and amodem. The up-to-the-minute information thus available will includedirect linking facilities via the modem to domestic and foreign exchanges.

The bank's priority investments ill electronic banking have produced what Seddon describes as «advanced equipment and systems, which have facilitated increased administrative control, realisationof clerical duties, and expanded information gathering capabilities, all of which means quicker, more reliable, and increased customer services».

II. Дайте английские эквиваленты следующих слов и словосочетаний: прибыльза вычетом налогов

биржевойпрограммный пакет

колоссальные расходы

сиюминутная информация

расширившиеся возможности сбора информации

подсоединить персональный компьютер к банковской сети через интерфейс учредив дочернюю компанию

прибыль от производственной деятельности

сравнительные показатели были искажены

ссуды на жилищное строительство

подтверждение сделок.

///. Найдите в следующем предложении неличные формы глагола, назовите их и переведите предложение на русский язык:

The bank, which is well-known for being at the fore front of electronicbanking, is confident that there is a world-wide market for its state-of-the-arts solution to the rapidly changing needs of international banking.

IV. Найдите в тексте синонимичные варианты следующих слов и словосочетаний:

a) a subdivision or a department;

b) by way of, by means of;

c) an establishment for the deposit, custody, remittance and issue of money;

d) themost eminent part, place or position;

e) the actof rendering valid; f) augmentation;

g) to change from the true meaning.

h) the conditions in which people live, work etc.

V. Сопоставьте слова и словосочетания из текста с их значениями,

a) net; b) still existing or paid; c) to depress; d) unit; e) facility; f) the net profit made by a company before adding or deducted extraordinary items; g) slowdown; h) modem; i) exhibiting no change, movement or development.

данными в противоположной колонке:

1) teller;

2) a device that links a computer system
telephone line;

3) operating profit;

4) remaining after all amounts owed have been

5) outstanding;

6)to let fall to alower state or position;

7) static;

8) a group of things or persons regarded as an

9) a retarding of motion or efforts.

VI. Заполните пропуски в предложениях словами, данными ниже:

Loan; bank; deposit; account; teller; safety; automatic teller machines; amount; with; earnings; closed down; banker; commercial credits; loan interest.

1. Nowadays people have got used to__. This kind of service saves time and is quite convenient.

2. My father is a____. He runs the___/

3. I was somewhat frustrated: thenotice on the door of thebank said____.

4. If you are concerned about the____ of your___, make a ____ in your bank.

5. He was very curious about the bank__ which I have opened my account.

6. Currentlythey have got no money in their__ .

7. The___ is very high.

8. The banks in this country grant__ to promote trade.

9. Our country was very happy to get a ______

10. The__ checks the___ of money left in somebody's account.

VII. Дайте определение следующим словам:
Credits are ...

The economic environment is ...

An interface is ...

A network (here) is ...

ATM with drawls are ...

VIII. Определите соответствуют ли данные предложения содержанию текста

1. A bank deposit is a sum of money left with a bank for safe keeping or to earn interest.

2. Computerized banking systems enable the Central Bank's terminal to interfere with the work of computers in any of the banks.

3. Off-line is something that is not directly connected to a database or the central part of a computer system.

4. A bank before shows only withdrawals from a customer's bank account.

5. Loans outstanding mean that the loan was a six digit figure.

IX. Составьте 10 вопросов к прочитанному тексту.

X. Переведите текст на русский язык.

Вариант 3

/. Прочитайте и переведите следующее предложение, объясните какой тип условного предложения здесь использован и почему.

If Kodak could open a plant in Japan, its ability to lake advantage of Japanese production costs would partially offset the loss of competitiveness it would suffer if a sudden appreciation of the dollar were to raise American costs relative to Japanese.

II. Прочитайте текст и выполните следующие за ним задания.

Multination and Foreign Exchange Risks

Corporations with multinational operations are among the most important players in the foreign exchange market. Because both revenues and expenses are denominated in many different currencies, an unexpected exchange rate shift can potentially, result in huge profit gains — or losses Multinationals eliminate some of the risk of unexpected currency fluctuations through forward trading, swaps, or more complex financial transactions. For example, an American-based company expecting a payment in yen can buy a yen put option, which fully, protects it from a dollar loss m case the yen suddenly depreciates but allows it to keep any dollar gains from a surprise yen appreciation. As me foreign exchange market has grown in complexity and size, the financial officers of most large corporations have become increasingly sophisticated in its ways.

Eastman Kodak, headquartered in Rochester, New York, is a leader in this respect. The company set up its own foreign exchange trading room in the late 1950s, hoping to turn a profit by managing Kodak's «exposure» — that is, its net asset position — in foreign currencies Similar), Mobil Corporation is setting lip a trading room in London. The oil Mobil sells is priced in dollars, but the company's costs are paid in other currencies as well as in dollars. Mobil therefore cannot afford to be caught off guard by a sudden dollar depreciation.

Profitable as such ventures can be, they do not eliminate all of a company's currency-related risks. Forward contracts and options with a horizon longer than a couple of years are still relatively costly to arrange, so various exchange market activities, while effective in countering, short-term risks, are less effective incountering long-term risks. Moreover, the more limited nature of most short-term risks makes them inherently easier to guard against than long-term risks.

Long-term risks, however, can be substantial. For example, a steep appreciation of the dollar against foreign currencies over the first half of the 1980s made Kodak's photography products more expensive compared with foreign brands, As a result, Kodak had to give up a greater share of its world market to foreign competitors like FUJIPhoto Film of Japan. When the dollar began failing in 1985, Kodak (like many other American companies) looked for ways to avoid the effects of such punishing exchange rate swings in the future.

Kodak is now more wary of making long-term commitments that might become uncomfortable, after an adverse exchange rate movement. When it signs long-term supply contracts, Kodak may insist on linking the amount purchased, or the price, to current exchange rate prospects into account before making decisions to open production facilities in foreign countries.

Notice that the decision to open a foreign plant is itself a way of guarding against exchange risk. If Kodak could open a plant in Japan, i1s ability to take advantage of Japanese production costs would partially offset the loss of competitiveness it would suffer if a sudden appreciation of me dollar were to raise American costs relative to Japanese, This was one consideration that led Japanese auto manufacturers like Honda to open US plants in the mid-1080s, when the yen was relatively weak against the dollar.

Kodak gets nearly half of its revenues from foreign sales, so its potential gain from reducing exchange rate risk is large. The company's precautions have not made it entirely immune to exchange rate risks, however. In 19S9, the photo giant was forced to fire 3 percent of its U.S. workers when the dollar, rather than depreciating against foreign currencies as the company had guessed when it projected future costs, strengthened instead. As in the early 1980s, this unexpected currency movement hurt Kodak by making its photographic products more expensive relative to those sold by its foreign competitors.

///. Проанализируйте слова из текста, указав к какой части речи они принадлежат и с помощью каких суффиксов и префиксов образованы. Переведите их и придумайте свои собственные примеры с этими словами.

complexity

increasingly

punishing

to strengthen

a manufacturer

— multinational

— unexpected

— long-term risks

IV. Переведите текст на русский язык.

V. Найдите в тексте примеры отглагольных существительных (Gerund) после предлогов. Дайте адекватный перевод этих предложений.

VI. Переведите следующие слова из текста, конвертируйте их в другую часть речи и придумайте с ними свои собственные примеры.

to headquarter