Unit 12 BANKING GOVERNANCE Skills focus Reading understanding
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. 3 Extending skills 12. 2 Reading 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 (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
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, observe, point out, state, suggest* is giving his/her opinion 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 Original sentence D Read text B on the opposite page. Look at the highlighted sentences. The writer is … Compliance has become giving an a major responsibility for opinion bank supervisors. 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 Direct quote or paraphrase? quote directly paraphrase Suggested sentence 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 or Suggested sentence paraphrase? quote the other writer directly giving an opinion paraphrase 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 violates US regulations Para 3 ABN AMRO stopped these procedures once they were detected. the consequences of the violations Para 4 On top of the financial penalties, ABN AMRO was required to implement additional compliance measures. Para 5 The ABN AMRO case has demonstrated that central banks and regulating agencies consider inadequate controls and serious noncompliance issues to be totally unacceptable. compliance measures and Basel principles the risks of noncompliance
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 6 million. 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, 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 Note that much of the text here has been they signed a ‘written paraphrased – which is the better option agreement’ with for information. authorities in the US that the Dubai problems were found.
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? Robins (ibid. ) further 1. When continuing to refer to a source According to Robins, she says that points out that ABN AMRO voluntarily notified US banking authorities then fining the Dutch bank US$75 million. 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 designed A written questionnaire was ______(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 expect to spend on setting up systems, processes and procedures to be compliant with Basel II? online survey 2. When does your institution expect to be fully compliant with Basel II? interview written How many banks in your country plan to adopt the recommendations of questionnaire containing closed the Basel II accord? questions 102 senior executives surveyed 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 A/An overwhelming/large/significant slight/small/insignificant/tiny Over More Less than majority minority number half a quarter a third 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$150 m and US$500 m or more than US$500 m.
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 or later. Although 7% ________ (think) that they would be 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$150 m and US$500 m or more than US$500 m.
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。
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