Ilonka2734

04.11.2020 04:18 •  Английский язык

1. A national bank, in the United States, is a commercial bank chartered by the comptroller of the currency of the U.S. Treasury. A national bank functions as a member bank of the Federal Reserve in the capacity of investing member of its district Federal Reserve Bank. These banks may facilitate the auction process of U.S. Treasury bonds and must be members of the Federal Deposit Insurance Corporation (FDIC). Internationally, "national bank" is synonymous with "central bank," or a bank controlled by the national government of a country. Central banks set monetary policies within national economies.
2. National banks in both structures have an important role in that they help structure a country's financial system. A financial system is the system that covers financial transactions and the exchange of money between investors, lender and borrowers. A financial system can be defined at the global, regional or firm specific level. Financial systems are made of intricate and complex models that portray financial services, institutions and markets that link depositors with investors.
3. Having an efficient banking system, whether through a central bank or the Federal Reserve, is important to the financial stability of a country's economy. A central bank or monetary authority is a monopolized and often nationalized institution given privileged control over the production and distribution of money and credit. In modern economies, the central bank is usually responsible for the formulation of monetary policy and the regulation of member banks. The central bank of the United States is the Federal Reserve System, or “the Fed,” which Congress established with the 1913 Federal Reserve Act.
4. National banks also facilitate daily transactions with their local Federal Reserve Bank, such as Fed bank wires. They must generate call reports to the Fed each quarter and also make the reports public. A report that must be filed by all regulated financial institutions in the U.S. on a quarterly basis and contains financial information about the banks. Banks are required to file no later than 30 days after the end of each quarter.
5. The Call Report collects such basic financial information as the bank's balance sheet and income statement. Reports are required to be submitted to the Federal Financial Institutions Examination Council (FFIEC).
The first national bank in the U.S. was founded under the plans of George Washington.

Задание: Read the text and match these statements T (true) or F (false) according to the information in the text.

1. A financial system is the system that covers financial transactions and the exchange of money between investors, lender and borrowers.
2. A central bank or monetary authority is not a monopolized institution and it has no privileged control over the production and distribution of money and credit.
3. The first prototypes for modern central banks were the Bank of England and the Swedish Riksbank, which date back to the 17th century.
4. National banks have an important role in that they help structure a country's financial system.
5. Having an efficient banking system is not important to the financial stability of a country's economy.
6. A central bank is a monopolized and often nationalized institution given privileged control over the production and distribution of money.
7. Financial systems are made of simple models.
8. National banks facilitate daily transactions with their local Federal Reserve Bank.
9. The Call Report collects basic financial information.
10.The first national bank in the U.S. was founded under the plans of George Bush.