Английский язык. Бочкарева Т.С - 27 стр.

      syndicated lending                 -   синдикатное кредитование
      to share the risks                 -   разделить риски
      to grant big advances              -   выделять крупные ссуды
      lead manager                       -   инвестиционный банк, выступающий
                                             главой синдиката кредиторов
      when due                           -   когда подошел срок платежа
      to distribute                      -   распределять
      supplier credit                    -   кредит поставщикам
      buyer credit                       -   кредит покупателю


      The provision of credit is one of the primary functions of a bank. It allows the
borrower to finance major projects which would have otherwise not been possible. A
company building a new production plant or a country building a new dam both need to
raise very large sums of money in order to get the job done. The provision of funds by
banks for specific projects is thus an important part of international financing.
      For practical or legal reasons, a bank may decide that a particular loan is too large
to handle alone. Banks often therefore refer loan proposals to other banks, frequently
their larger correspondents, and invite them to participate in the loan.
      Syndicated lending therefore allows a bank to share with other banks (sometimes
100 or more from different countries) the risks involved in granting big advances. The
borrower is able to obtain more than would be possible from a single bank, even though
he or she deals with only one bank which organizes the participation of the other banks.
The lead manager, as this bank is called, decides the rate of interest to be charged,
collects payments from the borrower when due, and distributes the money to the
participating banks.
      International lending normally requires a clear understanding of the political and
economic situation of the country in question, since granting credit naturally involves a
degree of risk. Banks therefore examine exchange control regulations, balance of
payments difficulties, payment records and so on before undertaking an international
loan for a major project.
      In Britain, the Export Credits Guarantee Department was set up in 1919 to help
British exports. One of its range of services is to guarantee banks against losses resulting
from loans made to the exporter (supplier credit) or to the buyer overseas (buyer credit).
Such credits are used for loans of more than two years' duration and for large contracts
such as ships. In the case of a buyer credit, the ECGD lends up to 85 % of the contract
price to the buyer, or a bank in the buyer's country, so that the exporter can be paid. A
similar organization in the USA is the Export - Import Bank (Eximbank), a government
organization set up in 1934 to aid trade between the United States and other countries.

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