DEPOSIT OR GIRO MONEY

Deposit or giro money is a form of money that has only gained great importance in the recent past. It is created by deposits held at banks on current accounts, giro or sight deposit accounts, on which the holder can draw at any time by check or giro transfer. In contrast to notes & coin, these are cashless means of payment, which are created by the banks themselves within the framework of cashless pay­ment transactions by using deposits for lending. The amount granted to the borrower is credited to a current account and thus becomes book money, which serves as the basis for further lending if these funds remain within the banking system (payments to creditors). But banks' ability to create book money is limited. It mainly depends on payment habits: the greater the preference for payment in cash, the more restricted the possibilities for banks to create deposit money. To ensure the solvency of the banking system and for monetary policy reasons, banks are moreover required to hold a certain per­centage of their liabilities as deposits with the central bank. This obligation limits banks' lending power and their ability to create book money.

- Ответьте на вопросы к тексту письменно:

1. What is giro money created by?

2. What does banks’ ability to create book money depend on?

3. What are banks required to hold?

4.

 

II. Заполните пропуски глаголами “can, may, must”:

 

1) … I apologize to him?

2) You … go and play now.

3) They’ve bought such an expensive house. They … be very well-off.

4) I wonder what they… think of the girl now.

5) … you speak Spanish?

6) My watch … be two minutes fast.

 

III. Вставьте подходящий предлог.

 

“Have you any good reading … vacation time?” asked the next customer. Mr. Sellyer recommended “Golden Dreams” once again. “The most humorous book … the season,” he said. “My wife laughed every minute reading it. It’s her favourite book now.

It was four o’clock, time to go home. But when I was leaving … the shop I asked Mr. Sellyer, “Do you like the book yourself?” “I have no time to read every book.” “What about your wife?” “I’m not married,” answered Mr. Sellyer smiling.

 

IV. Переведите на английский язык:

 

1) - Почему ты покупаешь так много продуктов? - У нас завтра вечеринка по поводу дня рождения мужа.

2) Вчера я ходила в универмаг. Я хотела купить туфли по разумной цене.

3) Я не буду примерять это пальто.

4) Салли была в красивом голубом платье.