Английский язык: Сборник текстов и упражнений. Бодргина Л.И - 68 стр.

     Answer the following questions.
     1. How do some wholesalers call themselves?
     2. What is the definition for wholesaling of the U.S. Bureau of the Census?
     3. How would you define wholesalers?
     4. Are producers who take over wholesaling activities considered to be who-
lesalers?
     5. What are basic wholesaling functions?
     6. What does “to regroup goods” mean?
     7. Can wholesalers perform any financing function? Describe it if any.
     8. How can wholesalers speed the whole buying and selling process?
     9. Do wholesalers benefit producers-suppliers? How?




                              UNIT 16
                BANKS AS FINANCIAL INTERMEDIARIES

      Banks are financial institutions that accept money deposits and make loans.
Included under the term “banks” are firms such as commercial banks, savings and
loan associations, mutual savings banks, and credit unions.
      Banks are important for three reasons:
      1. They provide a channel for linking people who want to save with those
who want to invest.
      2. They play an important role in determining the money supply.
      3. They are a source of the financial innovation that is expanding the ways
in which we can invest our savings.
      Banks play a critical role in the creation of money, not buy printing $ 50 bills
but by lending. Banks loans create checking account deposits, a large component
of the money supply.
      If you wanted to make a loan to some companies, you would not go directly
to the president of the company and offer a loan. Instead, you would lend your
money to such companies indirectly through financial intermediaries, institutions
such as commercial banks, savings and loan associations, mutual savings banks,
credit unions, insurance companies, mutual funds, pension funds, and finance
companies that borrow funds from people who have saved and in turn make loans
to others.
      Banks are the financial intermediaries that the average person interacts with
most frequently. A person who needs a loan to buy a house or a car usually obtains
it from a local bank. Most Americans keep a large proportion of their financial
wealth in banks in the form of checking accounts, savings accounts, or other types
of bank deposits.
      Financial intermediation is an important activity in the economy because it
allows funds to be channeled from people who might otherwise not put them to
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