Английский язык: Сборник текстов и упражнений. Бодргина Л.И - 70 стр.

     It is now a financial institution headquartered in London, owned by the Rus-
sian central bank but regulated by the Bank of England. MNB employs about 200
people. So far, Moscow Narodny Bank is the only Russian bank to have a full UK
banking license.
     The customers of MNB are mostly state institutions that specialize in import-
export operations. But its principal clients today are the 300 major Russian banks,
to which it provides financial services using its vast network of correspondent
banks. MNB is also a big participant in project finance connected with capital
projects in Russia.
     This year, MNB found itself returning to its roots. It set up a new Russian
bank, Mosnarbank, specifically to facilitate business in Russia and the CIS. MNB
says Mosnarbank is the first UK bank to be fully authorized to do business in the
region by both the Russian central bank and the Bank of England.
     Mosnarbank will specialize in treasury, trade finance and project advisory
services.

                 BANKS AS DEPOSITORY INSTITUTIONS

      Depository institutions (banks) are financial intermediaries that accept depo-
sits from individuals and institutions and make loans. The study of banking focus-
es special attention on this group of financial institutions because they are in-
volved in the creation of deposits, an important component of the money supply.
These institutions include commercial banks and the so-called thrift institutions
(thrifts): savings and loan associations, mutual savings banks, and credit unions.
Their behavior plays an important role in determining the money supply.
      Sources of funds (primary liabilities) of commercial banks, savings and loan
associations, mutual savings banks, and credit unions are deposits. Uses of funds
(primary assets) of commercial banks are business and consumer loans, mortgag-
es, government securities and municipal bonds. Uses of funds (primary assets) of
savings and loan associations and mutual savings banks are mortgages. Uses of
funds (primary assets) of credit unions are consumer loans.

                            COMMERCIAL BANKS

     These financial intermediaries raise funds primarily by issuing checkable de-
posits (deposits on which checks can be written), savings deposits (deposits that
are payable on demand but do not allow their owner to write checks), and time de-
posits (deposits with fixed terms of maturity). They then use these funds to make
commercial, consumer, and mortgage loans and to buy U.S. government securities
and municipal bonds. There are approximately 12,000 commercial banks in the
United States, and as a group, they are largest financial intermediary and have the
most diversified portfolios (collections) of assets.


                                        70