Transcript banks

Unit 12
BANKING GOVERNANCE
Skills focus
Reading
•understanding how ideas in a
text are linked
Writing
•deciding whether to use direct
quotation or paraphrase
• incorporating quotations
• writing research reports
• writing effective introductions/
conclusions
Vocabulary focus
•verbs used to introduce
ideas from other sources (X
contends/suggests/asserts
that …)
• linking words/phrases
conveying contrast
(whereas), result
(consequently), reasons
(due to), etc.
•words for quantities (a
significant minority)
12.1
Vocabulary
12.2 Reading
12.3 Extending
skills
12.4 Extending
skills
12.1 Vocabulary
A Study the words and phrases in box a.
1 Check the meaning, stress and
pronunciation.
2 What part of speech is each word?
Stress
Part of
speech
Meaning
accountability
accounta'bility
(n, U)
responsibility
compliance
com'pliance
(n, U)
agreement, obedience
corporate
'corporate
(adj)
relating to a big company
explicit
ex'plicit
(adj)
clear, exact
fiduciary
standards
fi'duciary
standards
(n, pl)
trustworthiness with other people’s
money
12.1 Vocabulary
A Study the words and phrases in box a.
1 Check the meaning, stress and
pronunciation.
2 What part of speech is each word?
Stress
Part of
speech
Meaning
implicit
im'plicit
(adj)
suggested
integrity
in'tegrity
(n, U)
moral principles
observance
ob'servance
(n, U)
obedience
proactive
pro'active
(adj)
taking action without being asked
procedures
pro'cedures
(n, C/U)
set of agreed actions
12.1 Vocabulary
A Study the words and phrases in box a.
1 Check the meaning, stress and
pronunciation.
2 What part of speech is each word?
Stress
Part of
speech
Meaning
proliferation
prolifer'ation
(n, U)
large increase, growth
provision
pro'vision
(n, C)
requirement
12.1 Vocabulary
B Read text A on the opposite page.
1 Replace the underlined words and phrases with
a synonym from box b.
2 Check the meaning, stress, pronunciation, and
part of speech of the words in the text.
Stress
Part of
speech
Synonym
dysfunction
dys'function
(n, U)
problems
subject to
'subject to
(adj)
controlled by
transparency
tran'sparency
(n, U)
openness
govern
'govern
(v, T)
guide
governance
procedures
'governance
procedures
(n, pl)
rules
12.1 Vocabulary
B Read text A on the opposite page.
1 Replace the underlined words and phrases with
a synonym from box b.
2 Check the meaning, stress, pronunciation, and
part of speech of the words in the text.
Stress
Part of
speech
Synonym
norms
norms
(n, pl)
accepted practices
evolve
e'volve
(v, T)
develop gradually
addressed
a'ddressed
(v, T)
dealt with
review
re'view
(n, C)
examination
12.1 Vocabulary
B Read text A on the opposite page.
3 Link each highlighted item to its noun.
Example: they refers to previously mentioned noun (banks)
they are subject to strict
Because banks have the potential
govern their actions
The Board of Directors and senior
They also have a responsibility
The Board of Directors and senior
these procedures need to be
implement strong governance procedures
The bank can do this,
identified and addressed annually
review of its corporate governance
The bank can do this
As part of this review
a regular review of its corporate governance
in which they examine their compliance
managers should carry out
in which they examine their compliance
managers should carry out
12.1 Vocabulary
B Read text A on the opposite page.
3 Link each highlighted item to its noun.
Example: they refers to previously mentioned noun (banks)
As a result of such reviews,
managers should carry out an ‘internal audit’
they should be able to identify
managers should carry out
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
1 Check the meanings of any words you don’t know.
2 Which verbs have similar meanings?
See Vocabulary bank.
Vocabulary bank
Introductory verbs
Choosing the right introductory verb is important. Your choice of
introductory verb shows what kind of statement the writer is
making.
Examples:
Pickford (2006) suggests that employees should understand how the
law ‘applies to their own functions’.
Your choice of introductory verb also shows what you think of other
writers’ ideas. This is an important part of academic work.
Examples:
Pickford (2006) claims that, in banking compliance, implicit and
explicit rules must be followed.
Vocabulary bank
Introductory verbs
Verb
The writer …
agree
thinks this idea from someone else is true
accept, concede
reluctantly thinks this idea from someone
else is true
consider, emphasize, note, is giving his/her opinion
observe, point out, state,
suggest*
argue, assert, claim,
contend, insist
is giving an opinion that others may not
agree with
Vocabulary bank
Introductory verbs
Verb
The writer …
cite
is referring to someone else’s ideas
disagree, dispute
thinks an idea is wrong
suggest*
is giving his/her recommendation
describe
is giving a definition/description
illustrate, indicate, show
is explaining, possibly with an example
report
is giving research findings
*suggest can have two meanings
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
2 Which verbs have similar meanings?
accept, agree, concede
argue, assert, claim, contend, insist
consider, note, observe, point out, state
disagree, dispute
illustrate, indicate, show
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
3 Which verbs are not followed by that?
4 When can you use each verb?
Example: accept = agree but with some
reluctance; the idea is often followed by
but
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
Used when the writer …
accept
that
reluctantly thinks this idea from someone else is true
agree
that
thinks this idea from someone else is true
argue
that
is giving an opinion that others may not agree with
assert
that
is giving an opinion that others may not agree with
cite
+ noun
is referring to someone else’s ideas
claim
that
is giving an opinion that others may not agree with
concede
that
reluctantly thinks this idea from someone else is true
consider
that
is giving his/her opinion
contend
that
is giving an opinion that others may not agree with
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
Used when the writer …
describe
how; + noun
is giving a description
disagree
that; with + noun
thinks an idea is wrong
dispute
+ noun
thinks an idea is wrong
emphasize
that
is giving his/ her opinion strongly
illustrate
how; + noun
is explaining, possibly with an example
indicate
that
is explaining, possibly with an example
insist
that
is giving an opinion that others may not agree with
note
that
is giving his/her opinion
observe
that
is giving his/her opinion
12.1 Vocabulary
C Study the verbs in box c. They can be used to
introduce quotations, paraphrases and summaries.
Used when the writer …
point out
that
is giving his/her opinion
report
that
is giving research findings
show
that
is explaining, possibly with an example
state
that
is giving his/her opinion
suggest
that;
+ gerund
is giving his/her opinion tentatively;
or is giving his/her recommendation
12.1 Vocabulary
D Read text B on the opposite page. Look at the
highlighted sentences.
1 What is the purpose of each sentence?
Example: Employees … need to understand the specific provision of the
law = opinion or recommendation.
2 In an assignment, should you refer to the highlighted sentences by
quoting directly or paraphrasing?
3 Choose an appropriate introductory verb and write out each sentence as
a direct quotation or a paraphrase. Add the source references.
See Skills bank.
Skills bank Deciding when to quote and when to paraphrase
When referring to sources, you need to decide whether to quote directly or
to paraphrase/summarize.
•Quote when the writer’s words are special or show a particularly clever
use of language. This is often the case with strongly stated definitions or
opinions.
•Paraphrase/summarize descriptions and factual information.
12.1 Vocabulary
D Read text B on the opposite page. Look at the
highlighted sentences.
Original sentence
The writer is …
Direct quote
Suggested sentence
or paraphrase?
Compliance has become
a major responsibility
for bank supervisors.
giving an
opinion
quote
directly
Compliance requires
observance of those
rules and regulations,
both implicit and explicit,
which govern bank
procedures.
giving an
opinion that
others may
not agree with
paraphrase
Pickford (2006) points out that
compliance has become a major
responsibility for bank
supervisors.
Pickford (2006) argues that, in
banking compliance, implicit
and explicit rules must be
followed.
12.1 Vocabulary
D Read text B on the opposite page. Look at the
highlighted sentences.
Original sentence
The writer is …
As Robinson (2003)
states, ‘senior
management are
responsible for ensuring
that …control processes
are in place’*.
quoting from
another writer;
the other writer
is making a
strong
statement
Employees throughout
the bank need to
understand the specific
provision of the law as it
applies to their
own functions.
Direct quote
Suggested sentence
or paraphrase?
quote the
other
writer
directly
giving an
paraphrase
opinion or
with a direct
recommendation quotation
Pickford (2006) cites Robinson,
who insists that ‘senior
management are responsible for
ensuring … control processes are
in place’. (Robinson, 2003).
Pickford (2006) suggests that
employees should understand
how the law ‘applies to their
own functions’.
12.1 Vocabulary
Original sentence
This means anticipating
the kinds of problems that,
if not corrected, may lead
to new compliance
requirements.
D Read text B on the opposite page. Look at the
highlighted sentences.
The writer is …
giving an
opinion that
others may
not agree
with
Direct quote or Suggested sentence
paraphrase?
quote
directly
As Pickford (2006) contends, ‘This
means anticipating the kinds of
problems that, if not corrected,
may lead to new compliance
requirements.’ (p. 24).
12.1 Vocabulary
E Look at the student notes on bank governance
principles on the opposite page.
1 Who should be responsible for creating a code of conduct?
The board of directors, because it is the governing body representing the
shareholders/owners of the bank.
2 What does best practice mean?
The model way of accomplishing a task.
3 What does arm’s-length mean?
A contract in which all parties are not connected in any way.
4 Who is responsible for defining risk areas?
Management is responsible for defining risk areas.
12.1 Vocabulary
Possible answers:
Governance problem
Transactions with related
parties (i.e., family members)
which have been
inappropriately authorized
F Read the AZA Bank internal memo above. How should
the bank respond to the governance issues identified in
the audit? For your answer, refer to the student notes in
Exercise E.
Recommendation
Have a comprehensive code of conduct and ensure all staff receive
training and understand it.
Have bank policies and procedures that ensure all transactions are
appropriately authorized and approved.
Inadequate assessment of new
financial products
Ensure the bank has appropriately trained and experienced staff to
assess all new product risk, and to price products accordingly.
Ensure product risk fits within the risk strategies set by the board of
directors.
Inadequate control over loan
extensions
Ensure that comprehensive procedures are prepared for granting loan
extensions, and that appropriate authorization levels are set.
Ensure rigorous internal checks are carried out on an ongoing basis.
12.2 Reading
A Discuss the following questions.
1 What risks do banks face when operating in other jurisdictions?
Banks may face some of the following risks when operating in other countries:
differences between cultures, varying structural models and public policies,
different laws and regulations, different compliance rules.
2 Who should take responsibility when problems occur?
The board of directors is ultimately responsible.
12.2 Reading
B Read the title of the article on the opposite
page. What will the text be about? Write three
questions to which you would like answers.
12.2 Reading
C Read the text. Does it answer your questions?
12.2 Reading
D For each paragraph:
1 Identify the topic sentence.
2 Think of a suitable title.
Topic sentence
Para 1 In 2004, ABN AMRO signed a ‘written agreement’ with
US regulatory authorities concerning its dollar clearing
activities in New York.
Para title
ABN AMRO’s compliance
problems with US
regulatory authorities
Para 2 ABN AMRO’s auditors identified violations of US
regulations coming from its Dubai branch.
Dubai branch violates US
regulations
Para 3 ABN AMRO stopped these procedures once they were
detected.
the consequences of the
violations
compliance measures and
Para 4 On top of the financial penalties, ABN AMRO was
Basel principles
required to implement additional compliance measures.
Para 5 The ABN AMRO case has demonstrated that central banks the risks of nonand regulating agencies consider inadequate controls and
compliance
serious noncompliance issues to be totally unacceptable.
12.2 Reading
E Look at the underlined words in the text.
What do they refer back to?
Word
Refers to
its
ABN AMRO
these
Libya and Iran
this
they
employees at ABN AMRO’s Dubai branch
had excluded or modified … information
payment instructions
it
ABN AMRO
its
ABN AMRO
these
the Basel principles
their
non-complying banks
12.2 Reading
F Study the highlighted words and phrases.
1 What do they have in common?
2 What linking words can you use to show: contrast? concession? result?
reason?
See Vocabulary bank.
Vocabulary bank
Linking ideas in a text
Linking words, which join ideas within a sentence or between
sentences, convey different meanings.
Within sentences
Between sentences
Contrast
but, whereas, while
However, In/By contrast, On the other
hand
Concession
although, despite/in spite
of the fact that
However, At the same time,
Nevertheless, Despite/In spite of +
noun, Yet
Result
so, so that
So, As a result, Consequently,
Therefore
Reason
because, since, as
Because of + noun, Owing to + noun,
Due to + noun
12.2 Reading
F Study the highlighted words and phrases.
1 What do they have in common?
2 What linking words can you use to show: contrast? concession? result?
reason?
contrast
Within-sentence linkers
Between-sentence linkers
… but …
… whereas …
… while …
However, …
In/By contrast, …
On the other hand, …
concession … although …
… despite/in spite of the fact that ...
However, …
At the same time …
Nevertheless, …
Despite/In spite of (this/noun), …
Yet …
12.2 Reading
G Study the highlighted words and phrases.
2 What linking words can you use to show: contrast? concession? result?
reason?
Within-sentence linkers
Between-sentence linkers
result
… , so …
… so that …
… with the result that …
So, …
As a result, …
Consequently, …
Therefore, …
reason
… because …
… since …
… as …
… due to/owing to the fact that …
Because of (this/noun), …
Owing to (this/noun), …
Due to (this/noun), …
12.2 Reading
F Study the highlighted words and phrases.
3 Write the sentences with the highlighted items again, using other linking
words with similar meanings.
12.2 Reading
G Read the sentences on the right. Number them
1–8 to show the order in which they happened.
ABN AMRO bank voluntarily notified the US bank regulators, and De Nederlandesche
Bank NV.
5
On top of the financial penalties, ABN AMRO was required to implement
additional compliance measures.
7
ABN AMRO signed a ‘written agreement’ in July 2004 to improve its compliance
procedures.
2
ABN AMRO’s auditors found non-compliance in its Dubai branch.
4
ABN AMRO took action to improve controls based on the Basel principles.
8
In 2005, the US regulators issued a cease-and-desist order, plus monetary penalties of
US$75 million.
6
Dubai branch employees modified payment instructions, allowing US dollar payments to be
made to Iranians and Libyans.
3
US authorities identified non-compliance to some of their regulations by ABN AMRO bank.
1
12.2 Reading
See Skills bank.
H Read the text on the right. A student has written a
summary of the first four paragraphs of the text
about ABN AMRO but the quotations and
paraphrases have not been correctly done. Can you
spot the mistakes and correct them?
Skills bank Incorporating quotations
• Use an introductory verb.
• Don’t forget the quotation marks.
• Make the quote fit the grammar of the sentence.
• Show any missing words with ‘...’.
• Copy the original words exactly.
Add emphasis with italics and write [italics added].
12.2 Reading
H Read the text on the right. A student has written a
summary of the first four paragraphs of the text about ABN
AMRO but the quotations and paraphrases have not been
correctly done. Can you spot the mistakes and correct them?
As Robins
(2005)
explains
As Robins (2005)
explains,
Note the grammar here: either As Robins (2005)
explains or Robins (2005) explains that but not
both. This is a common mistake.
ABN AMRO’s
auditors
identified
violations of
US regulations
at its Dubai
branch
‘ABN AMRO’s auditors
identified violations of
US regulations [at] its
Dubai branch’.
1. The words which are the same as the original
need quotation marks.
2. Because the word at is different from the
original, it is put in square brackets. It is
important that a quote is exactly the same as the
original. Any changes need to be clearly shown.
12.2 Reading
It was not until after the
bank signed a ‘written
agreement’ with
authorities in the US
that the Dubai problems
were found.
H Read the text on the right. A student has written a
summary of the first four paragraphs of the text about ABN
AMRO but the quotations and paraphrases have not been
correctly done. Can you spot the mistakes and correct them?
It was not until after
they signed a ‘written
agreement’ with
authorities in the US
that the Dubai
problems were found.
Note that much of the text here has been
paraphrased – which is the better option
for information.
12.2 Reading
H Read the text on the right. A student has written a
summary of the first four paragraphs of the text about ABN
AMRO but the quotations and paraphrases have not been
correctly done. Can you spot the mistakes and correct them?
According to
Robins (ibid.) further
Robins, she says that
points out that
ABN AMRO
voluntarily notified US
banking authorities then
fining the
Dutch bank US$75
million.
1. When continuing to refer to a source
you can use further or also or other
similar words; says is not a good choice
of introductory verb since it is too
informal. You do not need according to as
well as a verb of saying.
2. When referring to the same place in the
same source, use ibid. instead of the full
source reference. If it is the same
publication (but not the same place in the
text), use op. cit.
12.2 Reading
ABN AMRO
voluntarily
notified the
US banking
authorities
then fining the
Dutch bank
US$75 million.
H Read the text on the right. A student has written a
summary of the first four paragraphs of the text about ABN
AMRO but the quotations and paraphrases have not been
correctly done. Can you spot the mistakes and correct them?
ABN AMRO
‘voluntarily notified the
US banking authorities’
[italics added] who then
fined the Dutch bank US
$75 million.
1. The words which are the same as the original
need quotation marks.
2. If you want to emphasize a part of a quote, use
italics and then put ‘[italics added]’ after the
quote.
3. It is important to make a quotation fit the
grammar of a sentence. Failing to do this properly
is a common mistake.
12.2 Reading
I Write a paragraph for a university lecturer, summarizing
ABN AMRO’s failure to comply with US banking
regulations. Decide whether you should quote or
paraphrase the material from the text.
12.3 Extending skills
1 Check the pronunciation and
grammar.
2 What are their meanings in a
research report?
A Study the words in box a.
12.3 Extending skills
A Study the words in box a.
stress
patterns
part of
speech
meaning in a research report
con'duct
v
do (some research, a survey, an experiment)
'data
pl n
information; can be numerical (quantitative) or verbal (qualitative)
dis'cussion
n(U/C)
'findings
pl n
the title of the section in a research report which discusses the findings
The title of the section in a research report which details what has
been found out; each finding should be linked with a research
question. The title “results’ can also be used for this section.
impli'cation
n(C)
possible effect or result of the findings
'interview
n(C),v
interview'ee
n(C)
'interviewer
n(C)
noun: when someone is asked questions in a survey;
verb: to ask someone questions in a survey
the person being questioned
the person asking the questions
12.3 Extending skills
stress patterns part of
speech
A Study the words in the box.
meaning in a research report
limi'tation
n(C)
a problem with the research methods; an aspect which the research
could not address
'method
n(C)
Title of the section in a research report which explains how the research
was carried out. In the plural it refers to the research methods used.
a written set of questions
question'naire n(C)
'random
adj
recommen'dat n(C)
-ion
in no fixed order; with no organizing principle
suggestion for action as a result of the findings of the research
re'search
'question
n(C)
what the researcher wants to find out
res'pondent
n(C)
a person taking part in a questionnaire survey
12.3 Extending skills
A Study the words in the box.
stress
patterns
part of
speech
meaning in a research report
re'sults
pl n
same as findings;used more or less interchangeably
'sample
n(C),v
the group of people taking part in the research
n(C),v
a type of research in which the researcher sets out to describe a
situation or set of ideas or behaviours, by reading a variety of
documents or asking people questions
do (some research, a survey)
'survey
under'take
v
12.3 Extending skills
1 What methods were used in
each piece of research?
Report A: Probably a written
survey and interviews.
Report B: Probably a written
questionnaire.
B Read the introduction to Report A and the
conclusion to Report B, on the opposite page.
12.3 Extending skills
2 What are the elements of
an introduction and a
conclusion?
See Skills bank.
B Read the introduction to Report A and the
conclusion to Report B, on the opposite page.
Skills bank Writing introductions and conclusions
Introduction
•Introduce the topic of the report.
•Say why the topic is important.
•Give background information.
•Give an outline of the report plan.
Note: No substantial information; this belongs in the body of the report.
Conclusion
•Summarize the main points in the report without repeating unnecessarily.
•Make some concluding comments such as likely implications or
recommendations.
Note: No new information; all the main points should be in the body of the report.
B Read the introduction to Report A and the
conclusion to Report B, on the opposite page.
2 What are the elements of an introduction and a conclusion?
12.3 Extending skills
Good introduction
Example sentences
Introduce the topic.
The Basel II Capital Accord is a comprehensive framework for
determining regulatory capital requirements and measuring risk.
Give some background
information.
It aims to help banks and financial systems become more
resilient to a rapidly changing world financial environment.
Say why the topic is
important.
However, a criticism of the accord has been the cost of
implementation, so it is important to find out whether this will
lead to delays in its introduction, particularly among mid-tier
banks.
Say what you will do in the
report.
Give a general statement of
the purpose of the research.
This report will describe a survey of mid-tier banks undertaken
in 2004, to find out when they expect to be fully compliant with
the Basel II accord. The research also aims to identify whether
implementation costs will impact compliance.
B Read the introduction to Report A and the
12.3 Extending skills conclusion to Report B, on the opposite page.
2 What are the elements of an introduction and a conclusion?
Good conclusion
Example sentences
To conclude, 82 of the total number of 98 respondents state that they
Give a general
summary/restatement intend to adopt the Basel II accord. The other 16 respondents do not
indicate why they are not adopting the accord. However, the cost of
of findings.
implementation is likely to be a factor for less wealthy economies.
Say what your
It is clear that all countries should be encouraged to adopt the accord.
recommendations are.
Set out the
implications of not
taking action.
Comment on future
possibilities if action
is taken.
Unless there is universal adoption of the recommendations, there is the
risk that smaller banks, and those in less developed regions, will be
unable to participate in a global banking economy.
However, if the problems facing less wealthy economies can be
accommodated, then the implementation of Basel II will ensure greater
consistency and soundness in banking and financial standards globally.
12.3 Extending skills
1 Copy them into your notebook.
Put the verbs in brackets in the
correct form.
C Read the two Method paragraphs on the right.
12.3 Extending skills
C Read the two Method paragraphs on the right.
1 Copy them into your notebook. Put the verbs in brackets in the correct form.
Report A: Method
was designed
A written questionnaire ___________(design)
to find out the likely cost of
implementing Basel II and the year institutions expected to be fully compliant.
An online survey ______________(carry
out) of 102 senior executives in midwas carried out
interviewed (interview) at a
tier banks. In addition, senior executives were
_______________
number of banks.
Report B: Method
In order to find out how many countries intended to implement Basel II, a
questionnaire ____________
was sent out (send out) during 2006. The 13 member countries of
were questioned (question). In
the Basel Committee on Banking Supervision _____________
addition, 115 non-member countries ____________
were included (include).
12.3 Extending skills
C Read the two Method paragraphs on the right.
2 Identify the original research questions, the research methods and other
important information.
Research questions
Research method Other important information
1. How much does your institution
online survey
expect to spend on setting up systems,
processes and procedures to be
compliant with Basel II?
2. When does your institution expect
to be fully compliant with Basel II?
102 senior executives
surveyed
interview
written
How many banks in your country
plan to adopt the recommendations of questionnaire
containing closed
the Basel II accord?
questions
done in 2006
13 member countries and 115
non-member countries of the
Basel Committee on Banking
Supervision were questioned
12.3 Extending skills
See Skills bank.
D What are the sections of a research report?
What order should they go in?
Skills bank Structuring a research report
A research report is an account of some research which has been
undertaken to find out about a situation or a phenomenon, e.g., When
does your institution expect to be fully compliant with Basel II?
• Introduction introduce topic; background information; reasons for
research
• Methods research questions; how research was carried out
• Findings/results answers to research questions
• Discussion issues arising from findings; limitations of research
• Conclusion summary of main findings; implications; recommendations;
possibilities for further research
12.3 Extending skills
D What are the sections of a research report?
What order should they go in?
Section
Order in a research report
introduction
1
method
2
findings/results
3
discussion
4
conclusion
5
12.4 Extending skills
See Vocabulary bank.
A Describe the data in Figures 1 and 2 on the
opposite page.
Vocabulary bank Referring to quantities and group
sizes in a report
majority
A/An
overwhelming/large/significant
slight/small/insignificant/tiny
Over
minority
number
half
a quarter
a third
More
Less
than
x%
(of + noun)
12.4 Extending skills
A Describe the data in Figures 1 and 2 on
the opposite page.
Possible answers:
Figure 1
The graph shows that the overwhelming majority (98%) of non-member countries in
Asia intend to adopt the Basel II accord. Also, the overwhelming majority of
countries in non-BCBS Europe (97%) and Latin America (96%) plan to adopt the
accord. However, a minority (24%) of Caribbean countries plan to adopt it.
12.4 Extending skills
A Describe the data in Figures 1 and 2 on
the opposite page.
Possible answers:
Figure 2
A significant minority (41%) of respondents said they expected to spend less than
US$10 million to be compliant with Basel II.
A slight minority/Just under half of respondents (49%) said they were not yet able to
estimate the total cost of implementing Basel II.
A tiny minority (1% and 1%) estimated they would spend between US$150m and
US$500m or more than US$500m.
12.4 Extending skills
B Look at the findings section of Report A
on the right.
1 Complete the spaces with quantity phrases. Put the verbs in the correct
tense.
Report A: Findings
a large majority (79%) of respondents_______(say)
said
Firstly, on the negative side, _____________
a tiny minority
that they were not sure when they would be fully compliant. Only____________
stated (state) that they did not expect to be fully compliant until 2011
(1.1%) ________
of the respondents ________
thought (think) that they would be
or later. Although 7% ___
fully compliant by 2009 and 2010, over 17% _______
stated (state) they would be fully
compliant in 2007.
12.4 Extending skills
B Look at the findings section of Report A
on the right.
2 Write another paragraph, using Figure 2.
Possible answer:
The survey also revealed some positive aspects. A significant minority (41%)
of respondents said they expected to spend less than US$10 million to be
compliant with Basel II. Just under half of respondents (49%) said they were
not yet able to estimate the total cost of implementing Basel II. A tiny
minority (1% and 1%) estimated they would spend between US$150m and
US$500m or more than US$500m.
12.4 Extending skills
Possible answer:
C Write a discussion paragraph for report B
using the ideas from the research notes on
the opposite page.
It is clear that those countries whose banks have strong financial backing, such as the
top 10 to 20 US banks, the sophisticated Australian banks, and EU and Japanese
banks are best able to achieve an early implementation of the Basel II accord. It
seems that Basel I will be an option for mid-tier banks. From a practical point of view,
in a world of changing governments, changing financial technology and globally
different financial and legal institutions, the time and expense required to achieve
compliance will be more difficult for large developing countries.
However, China and India have indicated an intention to achieve compliance,
although neither has given a firm commitment, whereas Indonesia expects to be
compliant by 2011. There is a worldwide perception that Basel II has a role to play in
an era of increasing globalization and financial markets. Consequently, over
100 non-member countries are expected to reach compliance by 2010.
Tips for Reference
12.1 Vocabulary部分，学生课前完成练习A、B，熟悉相关词汇和短语。教师
课堂讲解Vocabulary bank中“Introductory verbs”技能，完成练习C； Skills
bank中的“Deciding when to quote and when to paraphrase”技能，完成练
习D。练习E、F可以作为课后练习。
12.2 Reading部 分， 课堂完 成练 习 A、 B 、C 、 D、 E、 G； 教师 课堂讲 解
Vocabulary bank中的“Linking ideas in a text”技能，完成练习F；教师课堂
讲解Skills bank中的“Incorporating quotations”技能，完成练习H。
12.3 Extending skills部分，要求学生课前完成练习A。教师课堂讲解Skills
bank 中 的 “ Writing introductions and conclusions ” 和 “ Structuring a
research report”技能，完成练习B、C、D。
12.4 Extending skills部分，教师课堂讲解Vocabulary bank中的“Referring to
quantities and group sizes in a report”技能，完成练习A和B。练习C可以作
为课后练习。
谢谢欣赏！