Key Vocabulary central bank - a bank administered by a national government. A central bank issues money and looks after the country's monetary policy. commercial bank - offer a full range of banking products and services, such as checking and savings accounts, loans, credit cards, and lines of credit to individuals and businesses. clearing - (in Britain) any bank that makes use of the central clearing house in London Clearing Bank, which clears cheques, settling indebtedness between two parties.

Clearing bank Clearing bank - a commercial bank that can clear checks. Clearing a check means processing it so that funds are deducted from the payer’s account and put into the payees’s account.

Merchant bank – investment bank A British term for a bank that specializes in providing various financial services such as accepting bills arising out of trade, underwriting new issues, and providing advice on acquisitions, mergers, foreign exchange, portfolio management, etc.financial tradeunderwritingissuesacquisitions mergersforeign exchangeportfolio management

Banking items

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First and second conditional

Practice

Unit 7 Business and the Environment

Discuss

Expressing contrast

Practice

Collocations

Abbreviations

Listening