National Geographic - Our World
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Julie Pratten Level: B2-C1 Absolute Banking English is written for Upper Intermediate and advanced learners of English who work in banking or the financial sector. It is designed for people who need to communicate internationally in English on a daily basis. Absolute Banking English: Introduction Key banking terms 1 Banking today 2 Central banking issues 3 Services and procedures in the digital age Review A 4 International trade operations 5 Money markets 6 Fraudulent activities Review B 7 Failures, crises and bailouts 8 Financial prudency 9 Financial performance Review C 10Regulation and deregulation 11 Alternative approaches to banking 12Banking review Lead-in Review D Communication activities Audio transcripts ■ The Bank for International Settlements • discusses topics which reflect the ever-changing language of banking English and shift in priorities of bankers in the last decade • aims to develop the core skills required by international bankers in their dayto-day working life: reading financial texts; developing key banking vocabulary; listening and responding to presentations and talks; and communicating in a variety of job-specific situations • contains the specialist terminology, synonyms, abbreviations and idiomatic expressions of a particular topic area of banking in each unit • offers a balanced range of exercises and communication activities in each unit • contains 12 thematic units, each divided into four key skills sections – Listening file, Vocabulary file, Reading file and Communicator file – plus four Review sections Key features: • suitable for class or self-study • comes with audio CD and includes audio transcripts • provides a comprehensive list of key banking terms • includes answer key Coursebook With Audio CD 978 1 905085 84 2 For sample pages visit www.deltapublishing.co.uk 8 Financial prudency The Bank for the Bretton Woods system Settlements b c 1 2 3 4 5 noun synonym (of verb) integrate co-operate 4 5 synonym (of verb) antonym (of verb) 7 dissemination 8 1 2 3 establish 10 found 4 5 6 11 implementation 12 dissemination 8 9 integrate 14 15 10 found break down maintain 17 18 implementation 12 13 safeguard 20 protect 14 15 16 maintain 17 compile co-operate 7 establish 11 noun safeguard Financial prudency 20 8 54 54 ngl.cengage.com 8 Financial prudency 4 18 19 protect jeopardize 4 during years, . Bank , 9 break down 13 16 19 jeopardize 'I don't think we have to ask how our bank's stress test is going.' 1931–33 Bank support 1931–33 1960s, for support of IMF , antonym (of verb) of support of for for . . – for for 1990s, of IMF for BIS supported BIS supported 1990s, , 6 . , support . , 1960s, . 3 2.6 Listen to the second half of the presentation on the role of the BIS and complete this dictogloss. See page 88 for guidance on completing dictoglosses. 2.6 Listen to the second half of the presentation on the role of the BIS and complete this dictogloss. See page 88 for guidance on completing dictoglosses. . Over years, , 1 What information does the BIS provide to central banks? 2 What kind of face-to-face meetings does the BIS organize? Listen again and answer these questions. focus of the BIS in the '70s and '80s? 3 What was the main What information does the BIS provide to central became more important after the Asian crisis in 1997? 4 What issue banks? What kind of face-to-face meetings does the BIS organize? 5 What is the prime concern of the BIS nowadays? What was the main focus of the BIS in the '70s and '80s? Bank stress tests What issue became more importantComplete this crisis in 1997? 2 after the Asian table and discuss the meaning of any unknown words. There may be several possible answers in each case. What is the prime concern of the BIS nowadays? verb See also Absolute Financial English (Page 8) co-operation between Dictogloss central banks during Listen and check your answers. 2 Complete this table and discuss the meaning of any unknown words. There compile 1 2 may be several possible answers in each case. co-operation between central banks financial stability 2.5 verb financial stability Basel II . Over The BIS was set up in the wake of the 2008 financial banks keep funds in the BIS. 4 Many central crisis. The BIS is the bank of all central banks. BIS has its headquarters in Basel, Switzerland. 5 The The main function of the BIS is to monitor BIS is part of the IMF. 6 The international payments. Many central banks keep funds in the BIS. 2.5 b The BIS has its headquarters in Basel, Switzerland. Listen and check your answers. 2.5 Listen again and answer these questions. The BIS is part of the IMF. c 2.5 Basel II Basel Capital Accord 1 The BIS was about the Bank for 1 a You are going to listen to an introductory talk set up in the wake of the 2008 financial crisis. 2 The BIS listen, decide central banks. International Settlements (BIS). Before youis the bank of allwhether each of these statements about the BIS is true (T) or function of the BIS is to monitor international payments. 3 The main false (F). 1 2 3 4 5 6 implementing and defending cross-border capital flows 1 a You are going to listen to an introductory talk about the Bank for International Settlements (BIS). Before you listen, decide whether each of these statements about the BIS is true (T) or false (F). dates / time periods cross-border capital flows actions dates / time periods Basel Capital Accord area Discuss these questions with a partner. actions the this table. Listen again and complete Bretton Woods system implementing and defending 2.5 3 1 How can the banking authorities of a country ensure that depositors' funds are safe? 2 How can the amount of risk banks take when investing their depositors' money be Discuss these questions with a partner. limited or controlled? 1 How can the banking authorities of 3 country ensure thatmade more accountable for the risks they take? a How can banks be depositors' funds are safe? 2 How can the amount of risk banks take when investing their depositors' money be limited or controlled? 3 How can banks be made more accountable for the risks they take? Dictogloss Listening file International Listening file Listen again and complete this table. area Financial prudency This unit covers: ■ banking risk and the security of deposits ■ banking supervision measures ■ bank stress tests ■ Lead-in 2.5 3 This unit covers: ■ banking risk and the security of deposits ■ banking supervision measures ■ bank stress tests . – for Bank stress tests 5 for . 2.7 Listen to a breakdown of the results of the first round of bank stress tests and complete this summary of the data with up to three words in each gap. Use the words you hear or similar words. In 2009, results stress first round by the Committee of European 5 Listen to a breakdown of the banking of thetests were (1)of bank stress tests and complete this summary of the data with up to three words Banking Supervisors in (2) countries, to be conducted on in each gap. Use the words you hear or similar words. In the (4) (3) banks. round of the tests, (5) in In 2009, banking stress tests were (1) 2011, (6) by the Committee of European the test – (8) banks (7) banks in Banking Supervisors in (2) , conducted on . In Spain, (9)countries, to be two in Greece and one in (10) (3) banks. In the (4) round ofper cent of all banks participated in the test and 20 the tests, (5) in (11) 2011, (6) banks (7) the test – (8) banks countries, only around (13) (12) ; however, in other EU in , two in Greece and one in (10) (9) per cent were tested. . In Spain, (11) per cent of all banksThe stress test is still a (14) 20 participated in the test and topic, and some countries – Spain and (12) ; however, in other EU countries, onlyin particular – have (16) around (13) (15) it. The main per cent were tested. (17) of the tests is that they (18) dynamic provisions. One The stress test is still a (14) topic, and someresult is that Spain and one (20) countries – although (19) bank failed the test, its (15) in particular – have data was (21) (16) it. The main official list. In 2013, the test (22) in the banks 'I don't think we have to (17) dynamic ask howof the tests is that they(23) our bank's stress to (18) their (24) provisions. One to 9 per cent of their up test is going.' (19) result is that although one (20) bank failed the test, its (25) . data was (21) in the official list. In 2013, the test (22) banks 8 Financial prudency to (23) their (24) up to 9 per cent of their (25) . 2.7 www.CartoonStock.com Contents 8 16 NEW English for international banking www.CartoonStock.com English for Specific Purposes Absolute Banking English 8 Financial prudency 55 55