Chapter SixteenBank Institutions Learning objectivesAfter studying this chapter you should be able to:1. Define the term “bank”2. Tell the common classes of banks in the U.S. and in the U.K.3. Describe the basic functions of the chief classes of the U.S. and the U.K. banksNotesI.New Words1. establishment n. 企业a commercial business2. to honour vt. 允准，承兑3. to collect vt. 托收4. statutory a. 法定的，依照法令的5. credit balance 贷方余额6. to conveyance vt. 转让Notes7. to transfer vt. 转账，转让，划拨8. repayment n. 付还9. custody n. 保管10. subsidiary a. 附属的11. to remit vt. 汇兑12. fulfill vt. 完成，实现，履行（AmE also fulfil）NotesII. Useful and Idiomatic Expressions1. to deal in 经营to trade in, e.g. The shop deals in woolen goods.2. to collect cheques for. 为托收支票所付款项3. to facilitate the transmission of funds 为资金传送提供方便4. to compete with. 与进行竞争to rival.5. to put money into. 将钱存放在6. to pay interest on. 对支付利息7. to improve ones houses 对房屋进行装修改造NotesIII. Key Terms1.high-street banks （英）指在大城市主要街道开设分行的大型商业银行2.the Big Four英国指它的四大商业银行The major high-street or main commercial banks in the U.K.（Barclays, Lloyds, Midland, and National Westminster中文为巴克莱、劳埃德、密德兰（米德兰）和国民西敏士银行。Big Four可译成“四巨头”。）3.estate agency房地产代理机构（estate agent（英）房地产经纪人=（美）realtor或real estate agent)4.clearing bank清算银行 5.clearing house票据交换所Notes6.clearance of cheques支票的结算7.jointstock banks(英)合资银行a U.K. bank that is a public limited company rather than a private bank (which is a partnership). In the 20th century, U.K. joint-stock banks became known as commercial banks or high-street banks.8.lender-of-last resort 最终贷款人，最后放款者（央行职能之一）A countrys central bank with responsibility for controlling its banking system. In China the Peoples Bank of China plays this role.Main TextDefinition of BankBank is an establishment which deals in money, receiving it on deposit from customers, honoring customers drawings against such deposits on demand, collecting cheques for customers and lending or investing surplus deposits until they are required for repayment. Bank is a “deposit-taking” institution or an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds Main TextMajor Classes of Banks U.S.An independent central bankthe Federal Reserve System or the FedCommercial banks Investment banksThrifts or thrift institutions, such as mutual savings banks, savings and loan associations and credit unions.Main TextMajor Classes of Banks U.K.A subsidiary central bankthe Bank of England Commercial banks, such as National Westminster, Barclays, Lloyds, and the Midland which are often referred to in the U.K. as the Big Four or the high-street banks; Merchant banks, which fulfill some functions of a U.S. investment bank Building societiesClearing banks Main TextChief Functions of Banks Taking time or demand deposits from depositors; Extending loans to individuals, firms, and other organizations; Providing consulting services to the banks customers; Making investments in profitable areas; Exchanging money;Main TextChief Functions of Banks Facilitating the transfer of funds in the economy; Making and receiving payments on behalf of the customers; Collecting funds on the cheques presented to the bank by depositors or the customers; Managing the wealth of the customers; Making remittance for customers. 1. What is your definition of bank?2. Can you tell briefly the major types of banks in the U.S. and in the U.K?3. Would you like to describe the common functions of banks?Questions for Chapter 16This is the end of Chapter 16Thank you for your attention