Banks are subject to various forms of legal risk, including inadequate or incorrect（56) ad

What's the subject of the passage？

A．Capital

B．Restrictions on banks' operations

C．Supervision

D．Capital adequacy

Fed. A central bank serves as the banker to both the banking community and the government; it also issues the national currency, conducts monetary policy, and plays a major role in supervision and regulation of banks and bank holding companies. In the U.S. these functions are the responsibilities of key officials of the Federal Reserve System: the Board of Governors, located in Washington, D.C., and the top officers of the 12 district Federal Reserve banks, located throughout the nation. The Fed's actions, described below, generally have a significant effect on the U.S. interest rates and, subsequently, on stock, bond, and other financial markets.

The Federal Reserve's basic powers are concentrated in the Board of Governors, which is paramount in all policy issues concerning bank regulation and supervision and in most aspects of monetary control. The board enunciates the Fed's policies on both monetary and banking matters. Because the board is not an operating agency, most of the day-to-day implementation of policies decisions is left to the district Federal Reserve banks, stock in which is owned by the commercial banks that are members of the Federal Reserve System. Ownership in this instance, however, does not imply control; the Board of Governors and the heads of the Reserve banks orient their policies to the public interest rather than to the benefit of the private banking system.

The U.S. banking system's regulatory apparatus is complex; the authority of the Federal Reserve is shared in some instances for example, in mergers or the examination of banks with other federal agencies such as the Comptroller of the Currency and the Federal Deposit Insurance Cooperation (FDIC). In the critical area of regulating the nation's money supply in accordance with national economic goals, however, the Federal Reserve is independent within the government. Income and expenditures of the Federal Reserve banks and of the Board of Governors are not subject to the congressional appropriation process; the Federal Reserve is subject to the congressional appropriation process; the Federal Reserve is self-financing. Its income ($20.2 billion in 1992) comes mainly from Reserve bank holdings of income-earning securities, primarily those of the U.S. government. Outlays ($1.5 billion in 1992) are mostly for operational expenses in providing services to the government and for expenditures connected with regulation and monetary policy. In 1992 the Federal Reserve returned $16.8 billion in earnings to the U.S. Treasury.

The Fed of the United States______.

A．functions as China Bank

B．is the counterpart of People's Bank of China

C．is subject to the banking community and government

D．has 13 top officers who can influence the American financial market

What can we learn from the third part of the passage？

A．Time deposit accounts are not subject to the convention so that they can not be converted to cash before their maturity date.

B．Commercial banks may impose a penalty fee on all kinds of accounts.

C．People can get interest payment when they exchange their tired deposits for private bonds.

D．Banks may refuse to transfer a time deposit into a savings deposit.

y and numbered accounts.Over the years,they had successfully withstood every challenge to this system by their own government who,in turn,had been frequently urged by foreign governments to reveal information about the financial affairs of certain account holders.The result of this policy of secrecy was that a kind of mystique had grown up around Swiss banking.There was a widely-held belief that Switzerland was irresistible to wealthy foreigners, mainly because of its numbered accounts and bankers, reluctance to ask awkward questions of depositors.Contributing to the mystique was the view,carefully propagated by the banks themselves, that if this secret was ever given up, foreigners would fall over themselves in the rush to withdraw money, and the Swiss banking system would virtually collapse overnight. To many, therefore, it came like a bolt out of the blue, when, in 1977，the Swiss banks announced they had signed a pact with the Swiss National Bank (the Central Bank).The aim of the agreement was to prevent the improper use of the country’s bank secrecy laws，and its effect to curb (遏制)severely the system of secrecy. The rules which the banks had agreed to observe made the opening of numbered accounts subject to much closer scrutiny than before.The banks would be required,if necessary,to identify the origin of foreign fund going into numbered and other accounts.The idea was to stop such accounts being used for dubious (可疑的)purposes.Also，they agreed not to accept funds resulting from tax evasion or from crime. The pact represented essentially a tightening up of banking rules.Although the banks agreed to end relations with clients whose identities were unclear or who were performing improper acts, they were still not obliged to inform. on a client to anyone, including the Swiss government.To some extent,therefore,the principle of secrecy had been maintained. Swiss banks took pride in_________.A.the number of their accounts

B.withholding client information

C.being mysterious to the outsiders

D.attracting wealthy foreign clients

According to the passage,the widely-held belief that Switzerland was irresistible to wealthy for-eigners was__________by banks themselves.A.denied

B.criticized

C.reviewed

D.defended

In the last paragraph,the writer thinks that________.A.complete changes had been introduced into Swiss banks

B.Swiss banks could no long keep client information

C.changes in the bank policies had been somewhat superficial

D.more changes need to be considered and made

Swiss banks are tightening its banking rules by________.A.examining the origin of foreign funds before going into accounts

B.preventing doubtful accounts from going into the bank

C.refusal of funds from crimes or tax evasions

D.all of the above

The purpose of the pact signed with the Swiss National Bank was__________.A.to attract more wealthy foreigners to the bank

B.to stop improper use of the banking secrecy laws of the country

C.to increase the numbered accounts of the Swiss Banks

D.to add mystery to Swiss Banks

请帮忙给出每个问题的正确答案和分析，谢谢！

投资银行(investment banks)

A．cooperative banks

B．thrift banks

C．universal banks

D．commercial Banks

There is a river in the valley，fresh flowers _________________.

A、is on the banks

B、were on the banks

C、being on the banks

D、on the banks

A.links

B.joins

C.connect