Apr 18, 2016
- Complete the sentences below. Use the key words if necessary.
- Types of financial institution
key words
Different kinds of banks did specialized kinds of financial business:
Retail banks or commercial banks worked with individuals and small companies
• received deposits
• made loans.
worked with big companies
• gave financial advice
• — increased the amount of money companies had by or — certificates representing one unit of ownership of a company — and — debts that pay interest and are repaid at a fixed future date
• organized — when two or more companies join together — and .
provided life insurance and pensions.
specialized in mortgages. Many have now become normal commercial banks.
Deregulation
key words
The financial industry changed radically in 1980s and 90s when it was — there are now fewer restrictions and regulations than before.
Before rules and regulations in the US, Britain and Japan prevented commercial banks doing investment banking business. Some other countries (Germany, Switzerland) already had universal banks doing all kinds of financial business.
Today many large international — companies formed by mergers and takeovers — offer a complete range of financial services. Individuals and companies can use a single financial institution for all their financial needs.
Specialized banks
key words
Other types of banks still have specialized functions:
• issue currency and carry out the government’s financial policy
• manage the assets of rich people or high net worth individuals
• pass cheques and other payments through the banking system
• such as car manufacturers, food retailers and department stores now offer products like personal loans, credit cards and insurance.
- Types of financial institution
- British English or American English?
- merchant bank
- American English
- British English
- investment bank
- British English
- American English
- retail bank, commercial bank, High Street bank
- British English
- American English
- retail bank, commercial bank
- American English
- British English
- building societies
- British English
- American English
- savings and loans associations
- American English
- British English
- merchant bank
- Choose words with the following meanings.
- a company offering financial services — . . .
- financial institution
- conglomerate
- the money a company uses, raised by way of shares and bonds — . . .
- capital
- takeover bid
- when two formerly separate companies agree to join together — . . .
- financial institution
- merger
- a company formed by the merger or takeover of several other companies — . . .
- merger
- conglomerate
- the ending of some rules and restrictions — . . .
- takeover bid
- deregulation
- when a company offers to buy the shares of another company to gain control of it — . . .
- deregulation
- takeover bid
- a company offering financial services — . . .
- The extracts below are from websites. Which types of banks do the websites belong to?
- ‘The Federal Reserve was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.’
- investment bank
- clearing bank
- central bank
- commercial bank
- private bank
- ‘We provide a full range of products and services, including advising on corporate strategy and structure, and raising capital in equity and debt markets.’
- investment bank
- central bank
- commercial bank
- private bank
- clearing bank
- ‘How can we help you? We can:
Build a long-term, one-to-one relationship with your banker.
Manage your family’s diverse business and personal assets.
Build a portfolio tailored to your family’s unique needs.
Play an active role in managing your assets.’- clearing bank
- central bank
- investment bank
- private bank
- commercial bank
- ‘Nearly twelve million cheques and credits pass through the system each working day. Cheque volumes reached a peak in 1990 but usage has fallen since then, mainly owing to increased use of plastic cards and direct debits by personal customers.’
- central bank
- commercial bank
- clearing bank
- investment bank
- private bank
- ‘Why bank with us? Because we offer:
• a comprehensive range of accounts and services
• over 1,600 branches, many with Saturday opening
• free withdrawals from over 31,000 cash machines
• online and telephone banking for round-the-clock access to your accounts- commercial bank
- private bank
- investment bank
- clearing bank
- central bank
- ‘The Federal Reserve was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.’
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