Federal Deposit Insurance Corporation Y9 q5 H: @1 E, ~ [- p
Before 1933, and particularly during the period 1929-33, bank failures were not uncommon. _1_ a bank overextended itself in creating credit or if several of its important loans could not be _2_, depositors in the bank would frequently become panicky and begin to make large withdrawals. __3__ the bank had only a small number of its deposits backed by currency, the band would soon be unable to meet withdrawals, and most depositors __4__ their money. Most frequently a bank merely needed time to improve its cash position by __5__ some of its loans and not making additional ones. In 1933, the number of bank failures __6__ a peak, forcing the federal government to intervene and __7__ the banks temporarily. To help restore the public's confidence __8__ banks and strengthen the banking community, Congress passed legislation setting up the Federal Deposit Insurance Corporation. __9__ corporation, an agency of the federal government, now insures over 90 percent of all mutual savings and commercial bank deposits for __10__ $100,000 per deposit. The FDIC has __11__ its insurance fund by charging member institutions one-twelfth of 1 percent of their total deposits.
/ Y' X, F' u$ y& }- k$ SAs a result of the protection provided by the FDIC and through other kinds of supervision, bank failures have been __12__ to a few isolated instances. When deposits are federally insured, people __13__ rush to withdraw their money if they __14__ the financial condition of their bank. The delay gives the banks the necessary time to adjust their cash credit balance, and this action helps to reduce the __15__ of bankruptcy. For an example of the value of the FDIC, note that the failure in 1974 of the huge Franklin National Bank did not touch off a panic, and that depositors lost no money as Franklin was taken over by another bank.
% N0 T2 k4 \. m! tEXERCISE:* x/ T6 M; _1 @
1. A) Although B) Even if C) If D) Because7 V) H% n4 N, T
2. A) repaid B) deposited C) found D) saved
9 T ~# A: n1 p0 M' ]. q3. A) Because B) Because of C) As a result D) considering3 V1 }5 P6 Q, C* y" Y
4. A) lost B) had lost C) will lose D) would lose0 `4 v2 t6 g% p6 a r; x# ~4 F4 P
5. A) calling on B) calling for C) calling off D) calling in
) q# `) c' \, N# \' E0 U9 A6. A) fell from B) reached C) climbed up D) arrived) [# f$ c1 s% _ k
7. A) closed B) closing C) close D) has closed
9 I, }( C4 I# ~. ?6 m8. A) to B) in C) of D) into, c/ M! ~, h6 c8 y
9. A) For the B) This C) As a D) A! j$ q6 @) R( q( ~
10. A) up to B) as much C) as many as D) equal. v* w9 M% H o/ w) w6 S- N. e
11. A) built up B) build up C) been built D) build& V+ j l, I( C, K/ V
12. A) growing B) increased C) reduced D) disappeared
3 _- a0 H& X0 U ~13. A) no B) any more C) no longer D) not
6 h4 Q/ T9 T, i+ t3 w8 {14. A) become concerned about B) become concerned with
V0 j4 R9 |2 s8 ?9 {! c& Z3 c" o4 ^C) become concerned in D) concern, D( s- B3 r' Q/ S/ u/ e" a4 x
15. A) likely B) possibility C) possibly D) opportunity$ |+ u6 M: I" I
Key: CAADD BCBBA ACCAB |
发表于 2012-8-15 23:30:26
