Supervision

Within the range of its competence, the Bank of Lithuania seeks to ensure the security, soundness, transparency and competitiveness of the domestic system of financial services. An efficient financial market participants’ supervision system, which complies with international practices, has been created in our country. This is the assessment of such a highly competent global financial institution as the International Monetary Fund. The Bank of Lithuania issues licences to financial market participants for the provision of financial services and supervises their activities. As a supervisory authority, the Bank of Lithuania monitors the compliance of financial market participants with laws and requirements set by legal acts of the Bank of Lithuania, International Financial Reporting Standards, requirements recommended by international organisations for safe and sound activities. The Bank of Lithuania also investigates disputes between consumers and supervised institutions and provides recommendations on how, according to the Bank of Lithuania, a particular dispute between a consumer and a financial institution should be settled. Read more

11/08/2011
One credit union was given a warning and two credit unions were imposed fines for breaches of laws
The Board of the Bank of Lithuania gave a warning to "Kupiškėnų taupa" credit union since it did not comply with the large exposure requirement.
11/08/2011
Bankas “Swedbank”, AB is instructed to eliminate the deficiencies identified during the inspection
The Board of the Bank of Lithuania discussed the results provided by the Credit Institutions Supervision Department of the full-scope inspection of Bankas “Swedbank”, AB.
11/08/2011
The number of companies holding the payment institution licence increases
The Board of the Bank of Lithuania decided to issue two payment institution licences granting the right to provide a payment service envisaged in the Law on Payments, Article 5.6.­, Money Remittance.
28/07/2011
Information on operations of credit institutions
The Credit Institutions Supervision Department of the Bank of Lithuania presented information on operations of credit institutions and department activities in the second quarter of 2011.
28/07/2011
Approves appointment of new management member
"Laikinosios sostinės kreditas" credit union (Kaunas) notified the Bank of Lithuania of the decision taken by the credit union‘s board to appoint...
28/07/2011
A fine for a credit union
After having discussed the findings of the inspection of "Sveikatos kreditas" (Gargždai) credit union, the Board of the Bank of Lithuania gave strict evaluation to the violations of legal acts and operational deficiencies discovered during the inspection.
28/07/2011
Šiaulių bankas receives permission to increase share capital
The Board of the Bank of Lithuania gave permission to Šiaulių bankas to register amendments to its Articles of Association in relation to the LTL 30 million increase of the bank’s authorised capital...
28/07/2011
Failure to comply with requirements when appointing an institution head
The Board of the Bank of Lithuania pointed out to UAB "Mokėjimo terminalų sistemos" its failure to comply with established requirements when appointing the head of the payment institution.
28/07/2011
Payment institution licences to "Virtualių paslaugų operatorius" and "Omnitel"
The Board of the Bank of Lithuania decided to issue another two payment institution licenses. So far a total of 13 undertakings have been issued licenses for provision of payment services.
21/07/2011
Acting as a union head is allowed
The Bank of Lithuania received a request of the credit union “Vilniaus  kreditas” for a permission to Mrs Jūratė Černiauskienė to become...
Records found: 203

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