The Bank of Lithuania

Resolutions of the Board of the Bank of Lithuania

Two electronic money institution licences issued The Board of the Bank of Lithuania issued two new electronic money institution licences authorising to issue electronic money and provide payment services set forth in the Republic of Lithuania Law...

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Lithuanians use contactless payment cards more often than an average European consumer, yet cash remains predominant

Although the use of cash is declining, it remains the most popular means of payment at points of sale (POS) and in person to person (P2P) payments not only in Lithuania but throughout the entire euro area as well. Payment cards are the second most...

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Crius LT, UAB granted a specialised bank licence

Following the assessment and proposal of the Bank of Lithuania, the European Central Bank (ECB) granted Crius LT, UAB a specialised bank licence.

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Gold coin to feature motifs of the World Tree, DNA strands and grain stalks

On 30 November, the Bank of Lithuania issued into circulation the €5 gold collector coin dedicated to Agricultural Sciences, which will be the fifth addition to the series “Lithuanian Science”.

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Invitation to the event “Upgrading Money to the Digital Age: Introducing Digital Euro”

On 30 November 2020, 16:00 (EET) / 15:00 (CET) the Bank of Lithuania and ROCKIT will hold a virtual event “Upgrading Money to the Digital Age: Introducing Digital Euro”.

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Vasiliauskas: Cherry-picking banks to face competition from smaller market players

The recent mergers of commercial banks in the Baltic States as well as withdrawal of some foreign banks have led to higher market concentration, yet opened the door to smaller market participants and alternative finance providers. The competitive...

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Deposits of Lithuanian residents continued to grow rapidly

Balance Sheet and Interest Rates of Monetary Financial Institutions, October 2020

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Real estate market remains resilient yet faces more challenges

The real estate and construction market remains resilient in the face of the COVID‑19 pandemic, yet its different segments are painting a mixed picture. Having recovered after the initial shock in spring 2020, the housing market is now...

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Pre-orders and issue of the coin dedicated to Agricultural Sciences postponed

By decision of the Board of the Bank of Lithuania, the €5 gold collector coin dedicated to Agricultural Sciences (from the series “Lithuanian Science”), previously planned for issue on 25 November, was postponed to 30 November. The pre-sale of the...

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Paysera LT fined for violations of anti-money laundering and terrorist financing requirements

Bank of Lithuania imposed the fine of €370 thousand on the electronic money institution Paysera LT for infringements of the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing.

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Two UK companies set up in Lithuania after Brexit granted electronic money institution licences

The Board of the Bank of Lithuania issued electronic money institution licences to FIDELIS EUROPE, UAB, and DiPocket, UAB, authorising them to issue electronic money and provide payment services set forth in the Republic of Lithuania Law on Payments....

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World’s first digital collector coin LBCOIN to be presented at a prestigious international forum

On 16–20 November, the Organisation for Economic Co-operation and Development (OECD) is holding a virtual Global Blockchain Policy Forum, where the Bank of Lithuania will showcase its world’s first blockchain-based digital collector coin LBCOIN issued...

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Mystery shopping exercise helped expose illegal investment services

This year, the Bank of Lithuania conducted a mystery shopping exercise to evaluate the practices of certain companies and persons offering training and consultation on savings and investment.

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Global Financial Innovation Network invites firms to participate in cross-border testing

The Global Financial Innovation Network (GFIN), which also includes the Bank of Lithuania, is inviting applications from firms to test innovative financial products, services, business models or regulatory technology across more than one country or...

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Vasiliauskas: Significant opportunity for investment, innovation and knowledge-driven economic transformation at hand

National and EU funds aimed at alleviating the negative impact of COVID-19 have opened up a significant opportunity to accelerate the modernisation of Lithuania’s economy. The ways to achieve this goal as well as potential challenges are presented...

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