I. Read and translate the text

The National Bank of Ukraine is governed by the Head of the National Bank of Ukraine and its directory, while its functions are coordinated by the Council of the National Bank of Ukraine. The council consists of 15 members including the Head of the National Bank as the ex-officio position. The other members of the council are appointed by an equal quota of seven members from the President of Ukraine and the Verkhovna Rada.

According to the Constitution of Ukraine, the main function of the National Bank is to ensure the stability of Ukraine's monetary unit. To carry this out the National Bank fosters the stability of the banking system and, within its competence, price stability.

The National Bank also carries out the following functions:

• to determine and pursue the monetary policy in accordance with the General Principles of the Monetary Policy developed by the Council of the National Bank of Ukraine;

• to issue the national currency of Ukraine on a monopoly basis and to organize its circulation;

• to establish the rules of conducting banking transactions, accounting and reporting, protection of the information, funds and property for the banks and other financial and credit institutions;

• to organize and to provide the methodological support to the system of the monetary, crediting and banking statistical information and the statistics of the balance of payments;

II. Retell the text.

TYPES OF BANKS

I. Study the vocabulary:

banking банківська справа

be engaged in (v) займатися

Central bank Центральный банк

the Federal Reserve System Федеральна резервна система

commercial bank комерційний банк

accept deposits (v) приймати вклади

make a loan (v) надавати позику

manage customers' accounts (v) вести рахунки клієнтів

merchant bank торговельний банк