The National Bank.

The National Bank is the central bank of the Republic of Belarus, it is owned by the republic and acts in the interests of the state. The main functions of the National Bank are the following: to devise and implement monetary policy of the Republic Belarus, to issue licenses. The National Bank of the Republic of Belarus acts as a "bank of last resort", performs the functions of a financial agent for the Government of the Republic of Belarus, represents the Republic of Belarus in all councils and organizations on monetary policy, offers banking services to foreign governments, central banks and financial institutions as well as international organizations of which Belarus is a member, participates in international organizations which maintain financial and economic stability through developing international cooperation in the monetary sphere.

The supreme governing body of the National Bank of the Republic of Belarus is the Board of the National Bank, of the Republic of Belarus. The Chairperson of the Board directs all activities of the National Bank and is personally responsible for compliance with the functions of the National Bank.

The National Bank of the Republic of Belarus is a centralized system made up of the Main Office and institutions, enterprises and organizations answerable thereto.

Relations between the National Bank of the Republic of Belarus and international financial organizations received an impetus after the Republic of Belarus adopted the Declaration of Independence. In 1992, following a preparatory process, the country gained membership in major financial institutions, such as the International Monetary Fund, World Bank group, European Bank for Reconstruction and Development.

Ex. 1. Match the English and Russian equivalents.

Ex. 2. Choose the right word or word-combination.

1 The National Bank is the ……………….. of the Republic of Belarus

a) commercial bank b) merchant bank c) central bank

2. The National Bank represents the Republic of Belarus …………….....

a) on monetary bank b) on foreign policy c) on home policy

3. The Supreme governing body of the National Bank of the Republic of Belarus is ………………..

a) the Main office b) the Board of the National Bank c) Banking college

4. …………………..... directs all activities of the National Bank

a) the President b) the Prime-Minister c) the Chairperson of the Board

5. In 1992 our country gained membership in ………………..

a) the European Union b) the international Monetary c) the North Atlantic Treaty Organization

Ex. 3. Answer the questions on the text.

1. What bank is the central bank of the Republic of Belarus?

2. What are the main functions of the National Bank?

3. When was the National Bank established?

4. Does the National Bank represent our Republic in all councils and organizations on monetary policy?

5. The supreme governing body of the National Bank is the Board of the National Bank, isn't it?

6. Who is the Chairperson of the National Bank now?

7. What is the Chairperson personally responsible for?

8. What major financial institutions did our republic gain membership in 1992?

Date: 2014-12-29; view: 1249