Section B
Date: 2015-10-07; view: 562.
B1
· You are going to hear Clive Regis, the Director of a London merchant bank, being interviewed about his bank's organization. As you listen, look at these headings. Which ones does he talk about and in which order?
– Structure of the parent company
– Brief history of the bank
– Range of services provided
– Recent changes
B2
· Listen again to what Clive says about the organization of the bank. As you do so, write in the boxes below the names of the six divisions to which he refers and list their main areas of responsibility.
 |
B3
· Look at the terms in the left-hand column. Match each one with its correct definition in the right-hand column.
| 1. | merchant bank | A | The selling-off of interests. |
| 2. | clearing bank | B | A very large loan for one borrower, arranged by several banks. |
| 3. | wholly-owned subsidiary | C | Money overdrawn on banks accounts to agreed limits. |
| 4. | accounting loan | D | Documents promising to pay sums of money at specified times. |
| 5. | syndicated loan | E | Money placed in countries with very low taxes. |
| 6. | overdraft | F | The joining of two or more companies into one. |
| 7. | documentary credit | G | A bank which is a member of a central organization through which cheques are presented for payment. |
| 8. | correspondent banking | H | Activities where one bank acts as an agent for another bank. |
| 9. | currency option | I. | A contract where the buyer has right to demand purchase or sale of a specified currency, but no obligation to do so. |
| 10. | bonds | J | A bank mainly concerned with the financing of international trade. |
| 11. | floating rate note | K | An organization which collects and pools money from many small investors and invests it in securities for them. |
| 12. | Eurodollar CD | L | A company entirely owned by another company. |
| 13. | financial futures | M | A limited company formed to invest in securities. |
| 14. | merger | N | A method of financing international trade where the bank accepts a bill of exchange from the exporter for the invoice amount, in return for receipt of the invoice and certain shipping documents. |
| 15. | takeover | O | The buying of a majority of the shares of companies. |
| 16. | divestment | P | Contracts to buy or sell currencies, bonds and bills, etc. at a stated price at some future time. |
| 17. | USM flotation | Q | Note on which interest rates are fixed periodically, and which can be traded on the market. |
| 18. | investment trust | R | Document given for a deposit repayable on a fixed date, the currency being dollars which are deposited outside the USA. |
| 19. | unit trust | S | The keeping of financial records and their periodic examination. |
| 20. | offshore funds | T | The starting of a new limited company, where the shares are not included in the official list on the Stock Exchange. |
B4
· Imagine that you are organizing a dinner party for 12 bank officials, including yourself. The other 11 people each work in different areas of banking, which are as follows:
| Financial control | Syndicated loans |
| Investment management | Correspondent banking |
| Documentary credits | Foreign exchange |
| Planning | Corporate finance |
| Overdrafts | Accounting and audit |
| Project finance |
Draw up a seating plan for the guests and yourself, placing everyone at the table. When you have finished, compare your plan with that of a partner. Discuss any similarities and differences, and explain the reasons behind your plan.
· Say if the statements are true or false.
1. Bernard Rogers describes the structure of his bank to David Lacey.
2. The Administrative Division covers administrative services as well as personnel, premises and economic analysis.
3. The Corporate Planning Division includes Tax Department and Data Processing Department.
4. The Investment Management Division provides services to lessors and lessees.
5. Kai Larsen describes the organization of a Scandinavian savings bank.
| <== previous lecture | | | next lecture ==> |
| Section A | | | Section C |