Учебно-методическое пособие по обучению профессиональному общению. Коровина Н.А - 39 стр.

        Trust services are one of the most important and rapidly grow-        issuer contributes to that fund periodically with the intent of eventually
ing bank service areas today. Bank trust operations encompass the             redeeming the bond issue.
management of property and other assets owned by a bank customer                     The fiduciary activities of banks make a critical contribution to
and the administration of a customer's security holdings and borrow-          the functioning of the commercial paper market, where the unsecured,
ings. In offering trust services the bank places itself as authorized         short-term notes of large corporations (both foreign and domestic) are
agent between the marketplace and the customer, making investment             traded. Bank trust departments keep records on which investors pur-
and management decisions on the customer's behalf and dispensing              chase commercial paper, see that any notes purchased are actually
funds when needed to cover the customer's obligations. A bank's trust         delivered to the investors involved, and pay off the holders of those
operations are usually divided into three broad areas: (1) personal trust     notes on the maturity date. Even more important, banks issue letters of
services, (2) business trust services, and (3) trust services for charities   credit backstopping issuers of commercial paper in order to reassure
and nonprofit organizations. Each involves a fiduciary relationship           investors that the bank will pay off a note issue if the borrowing corpo-
between bank and customer – that is, a trust department acts to benefit       ration cannot do so. A bank's trust department will receive and hold
its customers within those areas defined by contract (the trust agree-        any credit letters issued by other lending institutions and check to see
ment) between the bank (trustee) and the customer (trustor) covering a        that all the terms of those credit letters are being adhered to by borrow-
specified period of time.                                                     ing companies. If necessary, the trust department will file: for payment
        Banks provide a wide range of trust services for individuals and      under the terms of a credit letter and dispense the collected funds to
families in the form of estate settlement, trust administration and           note holders.
agency services. Bank trust divisions act as agents for corporations and             Many banks today would like to offer real estate brokerage ser-
other businesses in a host of different ways. This may involve issuing        vices to their customers, selling a home or commercial structure and
securities on the business customer's behalf, paying dividends or inter-      then financing the sale. For generations banks have made loans to
est owed on any securities issued, reinvesting the dividends for securi-      finance the construction of business facilities and private houses.
ties holders who request that service, and retiring the securities at ma-     While preferring to stick predominantly to short-term construction
turity. Under the terms of the Federal Trust Indenture Act of 1939, any       financing, banks have also taken on a limited volume of long-term ,
foreign or domestic corporation that issue securities to the general          commercial and residential real estate mortgages in which the mort-
public in the United States must designate a trustee for that security        gaged property being a home or a commercial structure. Mortgage
issue to act as a fiduciary, representing the investors purchasing those      loans are among the riskiest forms of bank credit, though they can be
securities. Trust departments also handle transfers of ownership of           sold quite readily in the secondary market. Sometimes banks acquire
corporate stock, stock splits, and conversions of stock into debt, and        realty companies in order to be able to offer a larger menu of financial
they issue proxies and count votes in connection with annual stock-           services.
holder meetings.                                                              ____________________
        Today, banks frequently serve as trustees under indenture, hold-             1. to issue a proxy – выдать полномочие на право голосова-
ing legal title to property securing a bond issue, with the power to          ния
foreclose on and liquidate that property if the issuer defaults. The bank            2. to foreclose – лишать права пользования
as trustee must make sure all bond covenants agreed to by the issuing                3. a sinking fund – фонд погашения задолженности, выкуп-
corporation are adhered to and that all required liens against the com-       ной
pany's property are duly filed and recorded. The trust department will
set up and manage a sinking fund, investing all monies that the bond

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