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(исключая) American and Japanese banks. They comprise the branches and subsidiaries of those banks and
Consortium banks too. All these banks are owned by other financial institutions. One of the owners of every
bank must be based overseas.
10. Role play:
Imagine you are the lecturer. Speak on the types of banks in Great Britain.
11. Agree or disagree:
Types of banks in Russia are similar to those in Great Britain.
12. Say what you know about commercial banks in Russia.
Unit twenty one
The Bank of England
Text
After the session on Banking Sector Mr. Hill suggested that in the afternoon the participants should visit
the museum of the Bank of England. It was one of the external visits of the Programme.
The museum of the Bank of England is located practically in the building of the Bank, in the City of
London. The museum has a lot of exhibits showing the history of the Bank from its foundation in 1694 to its
role today as the nation's central bank. Visitors can also see a video on the history of the Bank.
Here is a part of the text of the video:
To understand the role and importance of the Bank better we should learn first how it emerged.
During the seventeenth century banking in England was in the hands of goldsmiths who held deposits,
made loans to the merchants and the Crown. But even the wealthiest goldsmiths could not carry on a deposit
and lending business on the scale the Government required.
So in sixteen ninety four a joint stock company to raise money for the Government and finance wars was
incorporated. It later got to be known under the title "Bank of England".
Although privately owned and financed, the Bank of England developed essentially as a government
bank, raising money to finance the needs of the British Government, managing its national debt, printing
banknotes and minting coins.
In 1946 the Bank was nationalized and it operates today as the UK's central bank executing monetary
policy on behalf of the Government and supervising the markets in one of the world's largest and most
sophisticated centres.
Besides the Bank has always been a repository of gold...
After seeing the video the participants of the Programme made a round of the museum and asked Mr. Hill
a few questions.
Participant: Excuse me, Mr. Hill. May I ask you a question?
Mr. Hill: Why, certainly.
Participant: One day I heard the nickname of the Bank. Old Lady. Such a funny name! Where does it
come from?
Mr. Hill: Nobody knows exactly. Different explanations are given. Many of us associate this nickname
with an old cartoon. This cartoon shows the Prime Minister asking an old lady sitting on the money-chest
marked "Bank of England" for gold coins.
Participant: So, that's it! Very fascinating indeed!
Words and expressions
to suggest
[s
'
est]
предлагать
He suggests that they
should visit the museum
Он предложил им посетить
музей.
afternoon
вторая половина дня (после
1200)
in the afternoon
днем
to be located
находиться, размещаться
the City (of London)
Сити
lot
партия
a lot of...
много
exhibit
[
'z
b
t]
экспонат
to show (showed, shown)
показывать