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3RD YEAR TRANSLATION STUDIES

BUSINESS ENGLISH

AUTUMN TERM 2014-2015

Course coordinator: Roxana-Cristina Petcu, PhD


WORKSHEETS 4-5
PART I
I.TRANSLATE THE FOLLOWING TEXT:
A. One major macro-economic objective is to ensure price stability with free markets. Price stability means that
prices neither rise nor fall too rapidly; that the rate of inflation (measured as the rate of change of prices from one
period to the next) is close to zero. The desire to maintain free markets is based on the political judgment in the U.S.
that prices and wages should be set in decentralized private markets or bargaining rather than by government decision.
The desire for this form of organization is based on the economic judgment that free-market determined prices are an
efficient way of organizing output and keeping markets responsive to peoples tastes. The most common way to measure
the overall price level is the consumer price index, popularly knows as CPI. The CPI measures the cost of a fixed
basket of goods (items like food, shelter, clothing, and medical care) bought by the typical urban consumer. The
overall price left is often denoted by the letter P. Following this line or argument, the rate of inflation is the rate of
growth or decline of the price level, say, from one year to another. The figure below illustrates the rate of inflation for
the CPI from 1929 to 1984. Over this entire period, inflation averaged 3.2 percent. Note, however, that there was
enormous variation of inflation in different years, varying from minus 10 percent in 1932 to a high of plus 14 percent in
1947. This figure shows the year-over-year increase in consumer prices as measured by the CPI. During the Depression,
prices actually fell. Since World War II, however, deflation (or falling prices) has been rare. Note the upward trend of
inflation from 1960 to 1980, followed by the steep decline, or deflation, after 1980 that resulted from recession, high
unemployment and falling oil prices. The objective of price stability with free markets is more subtle than those
concerning output and employment. It is clearly undesirable to impose an absolutely rigid set of prices, such as has
sometimes been the case in communist countries, or during times of wartime price controls in market economies. A
frozen price structure would prevent the invisible hand of markets from allocating goods and inputs there would be no
efficient way to induce energy conservation or to discourage the production of horse-drawn buggies, for instance.
B. Unlike the clearing banks, merchant banks do not normally provide services to the general public. They are
specialized wholesale banks with a small staff and no branch network, which raise loans for large companies and
governments, and provide financial and investment advice. They are involved in the financing of international trade,
and will accept, or guarantee, Bills of Exchange, which is why they are sometimes referred to as accepting houses. The
rapid advances in technology make a branch network less important than it used to be as a basis for offering services to
the public. The present trend is for all banks to offer a wide range of financial services to all types of customers.

II. Choose the explanation which best illustrates the meaning of the underlined words as they are used
in the text above:

1. price stability: a) a situation in which prices in an economy change much over time; b) a situation in which an
economy would not experience inflation or deflation; c) the situation whereby the prices of goods and services offered
in the marketplace either change very slowly or do not change at all.
2. free market: a) an economic system in which prices are determined by unrestricted competition between privately
owned businesses; b) system in which the prices for goods and services are set by a government; c) an economic system
in which there is no competition and there is government control;
3. consumer price index: a) measures that there is no change changes in the price level of a market
basket of consumer goods and services purchased by households ; b) a measure that examines the weighted average of
prices of a basket of consumer goods and services, such as transportation, food and medical care; c) an index of the lack
of variation in prices for retail goods and other items;
4. basket of goods: a) a relatively fixed set of consumer products and services valued and used on an annual basis to
track inflation in a specific market or country ; b) the goods that you put in your basket when you go shopping; c) a set
of consumer products used to assess the consumers buying behaviour
5. urban consumer: a) consumers living is suburban areas; b) consumers living in sparsely populated areas; c) the
all-urban consumer population consists of all urban households;
6. rate of inflation: a) the rate at which the general level of prices for goods and services is rising, and, subsequently,
purchasing power is falling; b) a measure of how slow a currency loses its value.; c) a measure of changing prices
calculated on a daily basis.
7. unemployment: a) the state of being idle; b)money paid by the government to someone who has a job; c)the total
number of people who do not have jobs in a particular place or area;
8. market economy: a) an economy in which decisions regarding investment, production and distribution are based
on supply and demand, and prices of goods and services are determined in a free price system; b) an economic system
in which there is government intervention or central planning; c) a capitalistic economic system in which there is no
free competition;
9. energy conservation: a) the total energy of an isolated system cannot changeit is said to be conserved over time;
b)

reduction in

the amount of energy consumed

in

a process or system,

or

by

an organization or

society,

through economy, elimination of waste, and rational use; c) a law governing the relations between the state and energy;
10. clearing bank: a) a commercial bank that is part of a network of banks that can clear checks for
its clients regardless of whether or not the check originates from the same commercial bank; b) a bank that settles a
transaction between a payer and a payee; c) a system established to settle between individuals;
11. merchant bank: a) a financial institution that provides capital to companies in the form of short-term loans; b) a
bank that provides regular banking services to the general public.; c) a bank that deals mostly in (but is not limited to)
international finance, long-term loans for companies and underwriting;
12.

wholesale

bank:

a)a

bank

which

offers

services

to government agencies, pension

funds,

other institutional customers and to large corporations ; b) a bank that offers retail services; c) a bank that manages
small scale loans;
13. raise loans: a) the act of a business raising operating capital or other capital by borrowing; b) increase the amount
of money borrowed; c) collect money for working capital or capital expenditures by selling bonds, bills, or notes to
individual and/or institutional investors. ;

14. Bill of Exchange: a) a written order by one party (the drawer) to another (the drawee) to pay a certain sum
for payment of goods and/or services received; b) an open latter asking for money; c) a non-binding payment
instrument;
15. financial services: a) services provided by an individual to another individual; b) services and products provided
to consumers and businesses by financial institutions such as banks, insurance companies, brokerage firms, consumer
finance companies, and investment companies all of which comprise the financial services industry; c) guidance
services offered to individuals

IV.FILL IN THE BLANKS WITH THE APPROPRIATE WORDS IN THE LIST BELOW:
A. ASSIGN; INDIVIDUALS; CHANGE; MANNER; SINGLE; DIRECTED; ACCOMPLISH; GROUPS; BEYOND;JOB.
Organisations or ....... of people are necessary because many objectives are ...... the capabilities of one or two individuals.
Even broad objectives, however, are ...... by the cumulative behaviours of ....... individuals within the organization.
The ....... of the manager is to see that the behaviour of individuals is ........ toward the organisations objectives in the
most efficient and effective ........ . Therefore, the manager is expected to recruit .......... with the same objectives as the
organisation, to ......... individuals to the right place and to also ......... the individuals behaviour to accomplish the
organisations objectives
B. ACCOUNT; CASH; DUE; INWARD; KIND; TO MAKE; ORDER; OUTWARD; OVERDUE; PART; RESULTS; TO
STOP; TO SUSPEND; SYSTEM; TERMS.
Interest is charged on .. payments. A payment .. has been issued. We have asked the bank to payment of the
cheque, as it was lost. The bank has been faced with a liquidity crisis, so payments have been .. . The payee has
accepted the draft, and consequently has promised to . payment at maturity. The amount will be .. for payment in
two weeks. Our of payment are cash with order. A(n) payment means money received by the organization,
whereas a(n) . payment means payment made to others. Payment on means payment of a debt. Payment by
.. is a payment in which an employee`s pay is directly linked to his performance. Fringe benefits are a form of
payment in . . A cash discount is allowed for prompt payment in . .
V.FILL IN THE BLANKS WITH THE APPROPRIATE WORDS BELOW; TRANSLATE THE TEXT:
Metallic; banks; minting; receipts; profit; safe-deposit vaults; transactions; weighted; recalled; withdrawls; costs;
central bank; counterfeit; bankers; shipping; payments; deposited; credit system; exchange; finance; counting;
accounts; money-changing; coins
The first ______ were operated in ancient Egypt by royal palaces and temples. _____ were issues to those who
_____ their goods in these vaults and written orders were required for ____ from them. The common form of money
at that time was precious metals in _____ quantity. In Alexandria, in the Ptolemaic period (305-30 BC), granaries

were organized into a ____ of state grain _____. Their main _____ were recorded in a _____. This bank system
operated as a giro system. ______ were transferred from one account to another without the physical ____ of money.
The ancient Greeks developed money in the form of silver and bronze ____ around 600 BC. _____ coins was much
quicker and more convenient that weighing them, so the use of coins for every day _____ spread rapidly. Greek
_____ developed other services, including ____ services, because of the variety of coins used. They developed a
_____ which provided merchants with _____ to pay for _____ their goods. During the Middle Ages, European
monarchs controlled the production, or_____ of coins. The value of the royal coins often exceeded their _____ value
and minting ____. The English monarchs _____ all the coins and issued new ones every few years. This enabled
them to reduce the circulation of_____ coins and make a _____ from the metals used.
(NOTE giro system = a method of transferring money by instructing a bank to directly transfer funds from one bank
account to another without the use of checks.)

VI.MATCH EACH TERM WITH THE APPROPRIATE DEFINITION:


A. 1.accelerated depreciation; 2.balance sheet; 3.breakeven point; 4.cash flow; 5.to consolidate; 6.earnings per share;
7.goodwill; 8.fixed assets; 9.straight-line depreciation ;10.price-earnings ration; 11.profit and loss account
B. a) document that shows how much a company makes or loses over a given period. It does not include such features
such as land, goodwill, etc; b)the amount of money a company has available to reinvest in its business; c) an intangible
asset which includes the value of a firms clientele, trademark, patents and the experience of its staff; d)the profits of a
company divided by the number of shares issued; e)a system of calculating depreciation that attributes higher amounts
to the wear and tear of an item in the years immediately following its purchase than it does in subsequent years; f) the
value of a share on the Stock Exchange divided by net profit per share; g) a document showing the value of a company at
a set date expressed in terms of assets and liabilities; h)a system of calculating depreciation whereby the price of an item
is divided by the number of years it is expected to last; i) the point at which the firm covers all its expenses and begins to
make a profit; j)items that figure on a balance sheet such as land, machinery, lorries, etc.; k)to present the financial
documents of several separate legal entities together
VII. The verbs/ verb phrases below may be used to describe various movements on the money market;
match the English terms to their definitions.. Provide their translations.
List A: 1.to reach an all time high; 2.to hold steady (about prices); 3.to top; 4.to pick up (about prices); 5.to rise
steadily; 6.to plummet/nosedive; 7.to level off; 8.to see a slight/substantial rise; 9.to witness a dramatic fall; 10.to
rocket/to soar
List B: a. stop rising or falling and stay at the same level:; b. take note / observe a sudden, very great and often
surprising upward change ; c. fall or drop suddenly in amount, value, etc ; d. to come to a level
unsurpassed in some respect up to the present; e.to increase quickly and suddenly ; f. increase at a steady rate or pace;
g. remain fixed and not moving or changing suddenly:; h. exceed (an amount, level, or number); be more than .; i. gain
in value; j. to detect feeble, small increase / fairly large/significant increase.

VIII. Use the English terms above to fill the blanks in the sentences below
1. House prices now seem _____ after the steep rises of the last few years. 2. If inflation continues to rise, prices will
_____ . 3. August has_____ in the number of unemployed. 4. Canadas share of US demand is projected ____ at 16%,
as US demand increases alongside its exports. 5. The 1980s _____ in unemployment. 6. Donations are expected ____
$1,000,000 by the end of the month. 7. The divorce rate has _____ since the 1950s. 8. Stock prices _____ 40 percent
during the scandal. 9. Sales _____ from 1,000 units last week to 5,000 units this week. 10. Prices seem ____ again.

IX. Use the VPs above to translate the sentences below into English:
1. Preturile obiectelor/articolelor de imbracaminte pentru femei s-au redresat spre sfarsitul anului. 2. Preturile
legumelor au atins un nivel constant la sfarsitul lunii august. 3. In 2000 s-a inregistrat o usoara crestere a vanzarilor de
aparate de uz casnic. 4. Preturile apartamentelor au crescut vertiginos spre sfarsitul anilor 90. 5. Vanzarile de telefoane
inteligente s-au prabusit spre sfarsitul perioadei. 6. In 2012 am asistat la o cadere spectaculoasa a vanzarilor de case noi.
7. In 2007 valoare ratei dobanzii a atins un record absolut. 8. Preturile au ramas neschimbate intre 1988 si 1990. 9.
Preturile bunurilor de larg consum au inregistrat o crestere continua intre 1989 si 2014. 10. Vanzarile de discuri ale
acestui cantaret au depasit doua milioane la sfarsitul anului.

X. Choose the correct alternative to complete the sentences below; translate these sentences.
1. The cost of living _______ as high as 3.1% on a year-to-year basis in June.
a. slipped; b. climbed ; c. plummeted
2. British operating profits _____ from 51 million to 19.2 million last year
a. edged down ; b. skyrocketed; c. tumbled
3. Industrial output grew by 25.6% over the previous tear, a Chinas total economy _____ by more than 12%.
a. shot ahead; b. slid; c. edged up
4. Lodzs rapid growth in the 19th century between 1877 and 1914 the population _____ from 50,000 to almost
500,000 meant there was little town planning.
a. slumped; b. nosedived ; c. leapt
5. Farm prices ____ 0.7% from September as raw milk prices continued their rise.
a. edged up; b. rocketed; c. surged
6. Total car production _______ 5% because of lower sales in the US, where all European car makers are struggling
with weak demand.
a. shot ahead ; b. increased; c. slid

7. A year ago, people selling their homes routinely received as many as six offers, with the winning bid often higher than
the asking price. Prices _____ as much as 35% in a single month last year.
a. edged up; b. skyrocketed ; c. firmed
8. Japanese production has _______, falling by 9% fromits peak in 1991.
a. risen ; b. edged down; c. plummeted
9. The dollar _______ to its lowest level against the Euro for 18 months.
a. slumped ; b. rose; c. advanced
10. Sales held steady, but margins more than halved from 5.6 to 2.4%, and profits _____ from 29.7 million to 12.1
million
a. drifted lower; b. leapt; c. crumbled

XI. The nouns underlined in the sentences below are use to talk about rising and falling prices.
Translate these sentences.
1.Nicoli insists that last weeks good results and accompanying hike in the share price should prove to the skeptics that
the company is already on track. 2. A further rally in Euro Disney saw the shares touch 1575p, an advance of 20p. 3.
Adobe plummeted $ 4.125 a share to close at $ 15.625, a drop of 40% from levels at the beginning of the month. 4. The
shares stayed at 250p despite the decline in the wider stock market. 5. A 22% profit rise took packaging group Boxmore
to 187p, a jump of 10p. 6. The FT-SE 100 index of leading shares jumped 105.6 to close at 2,843.9. The surge, which
added 21.7 billion to share values, was the biggest one-day rise since April 10, the day after the general election.7. A
slip of 16 sent shares in Thorn EMI down to 972 p. 8. The banks share prices promptly took a 50p nose-dive as
astonished investors digested the results, which exceeded even the most pessimistic forecasts. 9. Despite the crash in
Japanese share prices last year, the Nikkei 225 has risen by 600% in dollar terms since the beginning of this year. 10.
The regional aircraft business was met with a slump in the share prices from 199p to 113p.
XII. Choose the correct alternative to complete the sentences below. Translate the sentences:
1. More people were pessimistic about the coming 12 months. The ____ in confidence was more severe in Scotland.
a. advance; b. jump; c. decline
2. The company lifted its annual profits to June by 105% to 7.5 million, with a 66% ____ in turnover.
a. hike; b. drift ; c. collapse
3. The dollars _____ to a fresh low of EUR 1,3860 failed to upset the market.
a. rise ; b. dip; c. surge

4. Germanys industrial strength took a _____ from second position in 1992 to 11 th place now.
a. retreat ; b. nose-dive; c. crash
5. Though the drop isnt enough to be called a slump, analysts said the hideen danger is that a small ____ in steel
consumption could trigger a nasty price war.
a. collapse; b. crash ; c. retreat
6. Japans production of cars, trucks and buses in September fell 4.1% from a year ago to 1,120,317 units because of a
____ in exports.
a. plummet ; b. slip ; c. nose-dive
7. Its money mountain has mushroomed from 217 million to 503 million, a massive ___ of 132%.
a. leap ; b. drop; c. drift
8. A dramatic 40% _____ in steel prices has sent British Steel spiraling into the red.
a. rise ; b. drift ; c. slump
9. A _______ in cold-drink sales during hot and sunny May and June helped Cadbury Schweppes push pre-taxes
profits ahead 13% to 126 million.
a. fall ; b. surge ; c. collapse
10. Industrial output has stabilized, after falling 60% in 1991-1992, the most precipitous economic _____ in Eastern
Europe.
a. drift ; b. dip ; c. collapse

XIV. Use the terms listed below to fill the gaps in the text below; provide a translation of the text:
meltdown; collapse; crash; free fall; record high; low; wipe off;; all-time high

Better economic news helped wall Street gain 2.3%, hitting an _____. European stock exchanges did well too.
Frankfurt, Milan, Zurich and Stockholm all reached new highs for the year. Tokyo share prices advanced broadly under
the lead of Sony and other electrical issues, pushing the Nikkei to a ______ in relatively active trading. But eupohoria
easily gives way to pessimism. When share prices fall a long way, commentators talk about billions of dollars, yen or
whatever being ____ share values. With prices falling to new _____, people may talk about a market _____ or
____ . If prices fall a very long way and there seems to be no limit to the amount they may drop, people use the
parachuting image of _____. Commentators may even compare events to a nuclear accident like Chernobyl and talk
about a market ______.
PART II

I.TRANSLATE THE TEXT: The role of the central banks


A central bank (reserve bank or monetary authority) is created by government legislation. It normally has the legal
right to create money. It can print money to increase the supply, or exchange money for securities. It can sell
securities to decrease the money supply. It is responsible for maintaining stability in the banking system of its
country, or a group of member states. In times of financial crisis, the central bank acts as lender of last resort (i.e.,
extending credit when no one else will) to the banking sector. Some central banks, such as the Bank of England, are
involved in coordinating, with solvent banks, lifeboat rescues of banks in crisis. The mandate of most central banks is
to carry out their governments fiscal and monetary policy to ensure a stable economy and currency. Some central banks
set their countrys official interest rate. They do this to manage inflation (a rise in the price of a basket of goods), as
well as deflation. Central banks can influence money supply, interest rates, and foreign exchange rates. They also
manage the countrys foreign exchange, gold reserves, plus the governments stock register. Central banks structures
and conditions vary significantly within and across nations. The European Central Bank (ECB) operates across several
countries. The Federal Reserve Bank (Fed) operates across all states in the USA. Central banks are managed by a
board of directors, The head of the central bank is usually a governor or president. All governments have some
influence over their central bank. In the USA, the chairman of the Federal Reserve Bank is appointed by the president.
However, his or her appointment must be confirmed by Congress. In some countries, the key monetary policy decisions
are made by committees or individuals, independent of the political appointee. The Monetary Policy Committee of
the Bank of England, for example, is dominated by representatives of private corporations. In most countries, a central
bank carries out supervision and regulation of the banking industry. Some central banks still require trading
banks to maintain a certain amount of their deposits as reserves. However, most central banks address credit risk by
requiring trading banks to meet certain capital requirements. These requirements (called capital requirements)
require banks to hold a percentage of their assets as capital. The Basel Capital Accords current guideline is 8% for
international banks. This means that when a bank reaches its lending limit, 92% of assets, it must raise additional
capital if it wishes to continue to increase its lending. Central banks may also provide financial services such as transfer
of funds, banknotes and coins or foreign currency. The Bank of Japan, for example, is a central bank that is actively
engaged in financial transactions with other financial institutions. In this role, the central bank is known as the bank of
banks. In some countries, this may be the responsibility of a government department such as the ministry of finance.
Most central banks are state-owned. However, many economists view government intervention in the monetary policy
of a country as undesirable. Advocates of an independent central bank argue that the power to create money, and the
power to spend it (e.g. funding government budgets), should be separate. Independence, it is argued, creates a more
credible monetary policy. Consequently, the financial market reacts more in line with the direction indicated by the
central bank. It is also argued that political interference or pressure may lead to boom and bust economic cycles as
governments attempt to manipulate the economy before an election for short-term political gain. This may result in
higher employment and consumer spending, but lead to higher inflation in the long term. During the 1990s, many
countries, influenced by research correlating central bank independence with low and stable inflation, increased central
bank independence. Critics of this trend say independence can weaken the central banks public accountability. They
argue that central bank independence needs to be balanced with accountability to the public and their elected
representatives.

II. Choose the explanation which best illustrates the meaning of the underlined words as they are used
in the text above:
1. print money1: a) to produce physical money to replace old currency which is removed from circulation; b) to write
banknotes; c) to copy banknotes and coins
2. print money2: a) to print money electronically; b) to inject more money into the economy, virtually out of thin air;
c) to credit money to private banks
3. money supply: a) cash and checking deposits ; b) a group of safe assets that households and businesses have; c)
the total amount of money in circulation or in existence in a country.
4. lender of last resort: a) any of the banks in the country that offers loans to other insitutions ; b) an institution
that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly
risky or near collapse.; c) the last source of credit
5. interest rate: a) a rate paid to use money ; b) a rate paid by the creditor; c) the proportion of a loan that is charged
as interest to the borrower, typically expressed as an annual percentage of the loan outstanding
6.governments stock register: a) a record of government transactions covering state-owned companies; b) a
record of transactions of a publicly-traded company for transfers, issues of stock, buybacks and other actions related to
the company's stock; c) a paper ledger;
7. Federal Reserve Bank: a) one of the banks in the USA; b) a bank located in one of the states in the USA ; c); The
central bank of the United States and the most powerful financial institution in the world.
8. chairman: a) the holder of the chair; b) the director of the bank ;c) the president of the governing body of the
Federal Reserve System;
9. political appointee: a) (US) any employee who is appointed by the President, the Vice President, or agency head;
b) one who is appointed to a position or office ; c) a beneficiary under legal appointment
10. supervision of the banking industry: a) checking the effectiveness of banking ; b) monitoring and examining
the condition of banks and their compliance with laws and regulations; c) providing safe storage for money
11. regulation of the banking industry : a) issuing specific regulations and guidelines to govern the operations,
activities and acquisitions of banking organizations; b) gathering information on trends in the financial industry; c)
landing money to qualified borrowers
12. credit risk: a) when the borrowers defaults on payments; b) when the borrowers pays back; c) the likelihood that a
borrower will default on any type of debt by failing to make required payments
13. capital requirements: a) the amount of capital a bank or other financial institution has to hold as required by its
financial regulator; b) a percentage of the assets that must be held by the bank; c) non-liquid assets to be held by the
bank
14. Basel Capital Accord: a) a bank asset classification system ; b) international banking regulations put forth by the
Basel Committee on Bank Supervision, which set out the minimum capital requirements of financial institutions with
the goal of minimizing credit risk; c) an agreement dealing with risk management
15. lending limit: a) the minimum amount a bank can lend to a single borrower; b) any amount a bank can lend to a
borrower ; c) the maximum amount a bank can lend to a single borrower;
16. monetary policy: a) the process by which the monetary authority of a country controls the supply of money; b)
targeting a rate of interest for the purpose of promoting economic growth and stability; c) a way to control the economy

17.consumer spending: a) spending covering durable goods; b) spending covering nondurable goods ; c)the amount
of money spent by households in an economy
18.

public

accountability:

enterprises and agencies to

be

a)

to

be

accountable

answerable

to

private

for fiscal and social

entity

b)

responsibilities,

obligations of public
to

those

who

have assigned such responsibilities to them; c) liability in court

IV. Provide synonyms for the words/phrases and use them in sentences of your own:
extend credit; mandate; governor; guideline; raise capital; government department ; advocate; in line with:
accountability.
V. The terms in list A designate various types of banks. Match these terms with the corresponding
definition in list B; provide their translations and use them in sentences of your own:
A: central bank; trading bank; international bank; commercial bank (retail bank); savings bank; savings and loan
association; credit union; financial service company; hybrid financial institution; correspondent bank
B. 1. a financial institution that provides services on behalf of another, equal or unequal, financial institution; 2. a nonprofit-making financial institution receiving small deposits at interest; 3. a national bank that provides financial and
banking services for its country's government and commercial banking system; 4. a non-profit-making money
cooperative whose members can borrow from pooled deposits at low interest rates; 5. a facility that allows depository
institutions in the United States to offer deposit and loan services to foreign residents and institutions; 6. services and
products provided to consumers and businesses by financial institutions such as banks, insurance companies, brokerage
firms, consumer finance ; 7. an institution which accepts savings at interest and lends money to savers for house or
other purchases; 8. commercial bank; 9. banks concerned with sophisticated, often innovative transactions that most
often
involve corporate customers ; 10. typical mass-market banking in which individual customers use local branches of
larger commercial banks. Services offered include savings and checking accounts, mortgages, personal loans,
debit/credit cards and certificates of deposit
VI. Provide translation of the following English terms; use the English terms in sentences of your own:
ATM; collateral; credit line; current account; electronic banking; debt collection; installment; loan-sharking; mortgage;
overdraft; pawn shop; savings account; to service a debt; syndicated loan; (un)secured loan; statement of account / bank
statement;

VIII. Fill in the blanks with the appropriate terms below:


non-deposit taking; fee; company; funds; borrowers; intermediation;

The inflow and outflow of ______ provide the financial institutions with the main source of profit and the process of
directing the savings to borrowers is of great benefit to both savers and _____ as well as to the national economy. The
process of matching against a ______ the needs of lenders with those of the borrowers is known as financial ______ .
A financial intermediary may be a deposit-taking organization such as a bank or a building society or a _____
institution, namely an insurance _______ or a pension fund.
IX. The following terms designate various means of payment. Match the terms with the correct
definition; provide their translation; use the English terms to fill the blanks in the sentences below;
translate these sentences into Romanian:
Bill of exchange; promissory note; I.O.U.; bankers draft/bank draft; letter of credit; standing order;
documentary letter of credit (L/C); cash with order (CWO); bearer check; bank transfer
1. a type of check where the payment is guaranteed to be available by issuing bank; 2. an act of moving money from
a bank account to another account; 3.a written order to a person requiring them to make a specified payment to the
signatory or to a named payee; 4. an instruction to a bank by an account holder to make regular fixed payments to a
particular person or organization; 5. payment for goods in which the buyer pays when ordering and in which the
transaction is binding on both parties. 6. a signed document acknowledging a debt; 7. a signed document containing a
written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand ; 8.
A cheque where the money can be paid to any person who presents it to the bank, not just to a person named on
thecheque; 9. letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for
payments made to a specified person under specified conditions . 10. a written promise of payment provided by a buyer
to a seller that is guaranteed to clear by a particular bank
1. In foreign trade, you must use the services of a bank to make payments. Payments can be done by, for istance,
______. 2. There are three parties to a ______: the creditor, who draws the bill, the debtor upon whom the bill is
drawn; and the person to whom the money is to be paid. 3. To ensure prompt shipment, we enclose a _____ for $
5,000 on the Jones&Smith Bank made out to your order. 4. Payment will be made via ______. 5. We accept ioredrs
from abroad only if payment is made by ______ . 6. A _______ is payable to anyone who presents it, usually over the
counter of the paying bank. 7. The term ____ is an abbreviation, in phonetic terms, of "I owe you."
8. I use a ______ to have my bills paid every month. 9. People write a ______ when they make an
signed, unconditional promise to pay a certain amount of money on demand at a specified time. 10. The bank issued a a
_______ on behalf of the Importer to pay the Exporter a given sum of money within a specified time, providing that
the Exporter presents documents which comply with the terms laid down in the document.