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79
TASKS
I. Match the words with the correct definition from the list be-
low.
Fiduciary, relationship, trustee, real estate, mortgage, estate,
trust department, trustor, service, a letter of credit.
1. One's collective assets and liabilities.
2. An agreement between a bank and its customer in which the
bank becomes responsible for the management of the customer's
funds.
3. One who holds legal title to property in trust for the benefit
of another person, and who is required to carry out specific duties with
regard to the property.
4. One who creates a trust.
5. Debt instrument by which the borrower gives the lender a
lien on property as security for the repayment of a loan.
6. Part of a bank engaged in settling estates, administering
trusts and guardianships, and performing agency services.
7. Type of business that sells assistance and expertise rather
than a tangible product.
8. Immovable property such as land held on a freehold.
9. A document issued by a bank by which credit facilities up to
a stated maximum amount are extended to a customer.
II. Look through the excerpt and then fill the spaces with
words from the box. Translate the text into Russian.
For many years banks have offered ... (1) the financial affairs
and property of individuals and business firms in return for ... (2) that
is often based on the value of properties or funds under ... (3). This
property management function is known as ... (3). Most banks offer
both personal trust services to individuals and families and ... (4) to
corporations and other businesses. In their commercial ... (5), banks
manage ... (6) portfolios and pension funds for business firms and ...
(7) as agents for corporations issuing stocks and bonds. This requires
... (9) departments to pay interest or dividends on the corporation's
80
securities at the proper times and ... (10) maturing securities by paying
off the investors who hold those securities.
Retire, mortgage, to manage, trust, real estate, fee, act, management,
security, trust services, trust departments, commercial trust services.
TOPIC 14. MARKET PLACE
Read the text and find the answers to the questions:
1. What role does the stock market play in the economy of any
country?
2. What does the “stock market” mean?
3. What does AMEX date back to? How was it known?
4. How is the Exchange regulated?
5. Who can become an Exchange member?
6. How is over the counter trading accomplished?
7. What does NASD supervise?
8. What companies was OTC organized for?
TEXT 1
The stock market. To some it is а puzzle. To others it is a source
of profit and endless fascination. The stock market is the financial
nerve center of any country. It reflects any change in the economy. It
is sensitive to interest rates, inflation and political events. In a very
real sense, it has its fingers on the pulse of the entire world.
Taken in its broadest sense, the stock market is also a control
center. It is the market place where businesses and governments come
to raise money so that they can continue and expend their operations.
It is the market place where giant businesses and institutions come to
make and change their financial commitments. The stock market is
also a place of individual opportunity.
The phrase “the stock market” means many things. In the nar-
rowest sense, a stock market is a place where stocks are traded – that is
bought and sold. The phrase “the stock market” is often used to refer
to the biggest and most important stock market in the world, the New
York Stock Exchange, which is as well the oldest in the US. It was
TASKS securities at the proper times and ... (10) maturing securities by paying
off the investors who hold those securities.
I. Match the words with the correct definition from the list be-
low.
Retire, mortgage, to manage, trust, real estate, fee, act, management,
Fiduciary, relationship, trustee, real estate, mortgage, estate,
security, trust services, trust departments, commercial trust services.
trust department, trustor, service, a letter of credit.
TOPIC 14. MARKET PLACE
1. One's collective assets and liabilities.
2. An agreement between a bank and its customer in which the
Read the text and find the answers to the questions:
bank becomes responsible for the management of the customer's
1. What role does the stock market play in the economy of any
funds.
country?
3. One who holds legal title to property in trust for the benefit
2. What does the “stock market” mean?
of another person, and who is required to carry out specific duties with
3. What does AMEX date back to? How was it known?
regard to the property.
4. How is the Exchange regulated?
4. One who creates a trust.
5. Who can become an Exchange member?
5. Debt instrument by which the borrower gives the lender a
6. How is over the counter trading accomplished?
lien on property as security for the repayment of a loan.
7. What does NASD supervise?
6. Part of a bank engaged in settling estates, administering
8. What companies was OTC organized for?
trusts and guardianships, and performing agency services.
7. Type of business that sells assistance and expertise rather
than a tangible product. TEXT 1
8. Immovable property such as land held on a freehold.
The stock market. To some it is а puzzle. To others it is a source
9. A document issued by a bank by which credit facilities up to
of profit and endless fascination. The stock market is the financial
a stated maximum amount are extended to a customer.
nerve center of any country. It reflects any change in the economy. It
is sensitive to interest rates, inflation and political events. In a very
II. Look through the excerpt and then fill the spaces with real sense, it has its fingers on the pulse of the entire world.
words from the box. Translate the text into Russian. Taken in its broadest sense, the stock market is also a control
For many years banks have offered ... (1) the financial affairs center. It is the market place where businesses and governments come
and property of individuals and business firms in return for ... (2) that to raise money so that they can continue and expend their operations.
is often based on the value of properties or funds under ... (3). This It is the market place where giant businesses and institutions come to
property management function is known as ... (3). Most banks offer make and change their financial commitments. The stock market is
both personal trust services to individuals and families and ... (4) to also a place of individual opportunity.
corporations and other businesses. In their commercial ... (5), banks The phrase “the stock market” means many things. In the nar-
manage ... (6) portfolios and pension funds for business firms and ... rowest sense, a stock market is a place where stocks are traded – that is
(7) as agents for corporations issuing stocks and bonds. This requires bought and sold. The phrase “the stock market” is often used to refer
... (9) departments to pay interest or dividends on the corporation's to the biggest and most important stock market in the world, the New
York Stock Exchange, which is as well the oldest in the US. It was
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