The Bank of Lithuania

Deficit on the current account balance turns to surplus

Balance of Payments of the Republic of Lithuania June 2019

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UAB deVere E-Money fined for improper segregation of customer funds

 The Supervision Service of the Bank of Lithuania has concluded that the electronic money institution UAB deVere E-Money breached the requirements set out by the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions by...

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Bank of Lithuania restricted activities of SatchelPay

The Bank of Lithuania suspended the activities of SatchelPay , UAB by prohibiting it to issue electronic money and provide part of its payment services. The decision was based on the fact that the electronic money institution has failed to provide...

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The world's first digital collector coin is under way

The Bank of Lithuania has signed a contract for programming the world’s first digital collector coin which, together with its physical version, is expected to be issued at the beginning of 2020.

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Electronic money and payment institutions: growing number of market participants, rising income and stronger supervision

In addition to becoming a driving force of the Lithuanian fintech sector, electronic money and payment institutions create expectations to boost market competition. Aiming at the sustainable development of the sector, the Bank of Lithuania has been...

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The IMF urges to take advantage of an economic upturn in preparing for potential challenges and supports the Bank of Lithuania’s decisions

Following the report prepared by the International Monetary Fund (IMF) staff mission in Lithuania and approved by the IMF Executive Board, the IMF supports the Bank of Lithuania’s efforts in strengthening the financial system. The IMF warned about the...

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UAB Click2Sell fined for improper segregation of customer funds 

The Supervision Service of the Bank of Lithuania has concluded that the payment institution UAB Click2Sell breached the requirements set out by the Republic of Lithuania Law on Payment Institutions in relation to the protection of customer funds and...

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Resolutions of the Board of the Bank of Lithuania

The Board of the Bank of Lithuania has issued electronic money institution licences to international companies and granted permission to reorganise the life insurance company.

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Governors of the Lithuanian and Belarusian central banks to discuss digital banking technologies

Today, Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, and Raimondas Kuodis, Deputy Chair of the Board of the Bank of Lithuania, will meet with the heads of the National Bank of the Republic of Belarus in Minsk to discuss...

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UAB Finansinės paslaugos „Contis” granted an electronic money institution licence

The Board of the Bank of Lithuania has issued an electronic money institution licence to UAB Finansinės paslaugos „Contis”. The company intends to issue electronic money and provide certain services set forth in the Republic of Lithuania Law on...

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Deposits of Lithuanian residents with credit institutions decreased

Balance Sheet of Monetary Financial Institutions, June 2019

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Survey: Cyberattacks and RE bubbles pose the biggest threat to financial institutions

According to Lithuanian financial institutions, cyberattacks and real estate (RE) bubbles will pose the major risk to the country’s financial system over the upcoming 6 months. The latest survey of financial institutions conducted by the Bank of...

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GovTech Lab: Join the Bank of Lithuania to create a RegTech solution

Launched at the beginning of July, the GovTech Lab starts its operation: seeking to reduce the administrative burden, the Bank of Lithuania is looking for an innovative solution that would allow obtaining the necessary data and automatically...

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Rapid growth in imports of goods led to an increase of current account deficit

Balance of Payments of the Republic of Lithuania May 2019

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Bank of Lithuania together with central banks of Germany and Poland implemented EU Twinning Project in Belarus

The central banks of three EU countries – Lithuania, Poland and Germany successfully implemented the EU Twinning Project ‘Strengthening the National Bank of the Republic of Belarus’ during which they conveyed their experience to the National Bank of...

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