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83
• financing small business companies
9. Agree or disagree:
Small business companies pay reduced taxes in Russia.
10. Role play:
Imagine you are a lecturer. Speak on financing small business companies in Russia
Unit twenty
Banking
Text
The next day the session was devoted to the
United Kingdom
Banking Sector.
Here is the short summary of the lecture:
The UK Banking Sector
Retail Banks
21
Discount Houses
8
British Merchant Banks
31
Other British Banks
167
American Banks
44
Japanese Banks
29
Other Overseas Banks
290
Total
590
In addition there are 92 Building Societies
Retail Banks: They render numerous services for private customers and have extensive branch
networks in the UK. They participate dnectly in the UK clearing system.
Discount Houses: They are mostly engaged in discounting bills of
exchange for the corporate
sector.
British Merchant Banks: These are wholesale banks handling big
money for private and
corporate customers. They are engaged in
mergers, take-overs and acquisitions. They also provide
consulting services.
Other British Banks: Comprise all other UK registered banking institutions and certain banks in
the Channel Islands and the Isle of Man. They are controlled by UK companies or individuals.
American Banks: Comprise the branches and subsidiaries of US banks.
Japanese Banks: Comprise the branches and subsisdiaries of banks based in Japan.
Overseas Banks: Comprise the branches and subsidiaries of non-
American or non-
Japanese
banks and Consortium banks. These are jointly owned by other financial institutions, one of which must be
based overseas.
Building Societies: In the past they mostly extended mortgage loans, but nowadays they also
widely practice taking in deposits and they practically operate as banks.
Words and expressions
twenty
двадцать (числ.)
banking
банковское дело
The lecture was devoted
to banking.
Лекция была посвящена
банковскому делу
retail
розничный
retail bank
банк, обслуживающий
мелких клиентов
discount
скидка; учет (векселей)
discount house
учетный дом — фирма/банк,
занимающийся учетом векселей
и операциями на денежном
рынке
merchant
['m
t
nt]
купец