The Bank of Lithuania

Economy and financial system gained immunity, yet new challenges await

Lithuania’s economy has returned to the pre-pandemic level in terms of its gross domestic product (GDP) and the financial system has successfully weathered the challenges of the pandemic so far. Given the good economic performance at the start of the...

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Banking sector: housing and business loan growth recorded in Q1

In Q1 2021, banks operating in Lithuania granted more loans to households for house purchase and loans to businesses, however, the flow of loans has not yet reached the pre-pandemic level. Customer deposits with banks continued to grow. 

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IMF improves the growth forecast for Lithuania’s economy, but also sees risks on the horizon

The situation of Lithuania’s economy is currently favourable for a strong growth that will accelerate in the second half of this year, as stated by the International Monetary Fund (IMF), which is projecting the growth of 4.4% for the country’s economy...

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ECB monetary policy decisions

This is press release by the European Central Bank. At today’s meeting, the Governing Council decided to confirm its very accommodative monetary policy stance:

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Balance of payments of the Republic of Lithuania: April 2021

Today, the Bank of Lithuania published the balance of payments for April 2021, which shows that:

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Licence of Finolita Unio revoked 

Having completed the investigation that was started in autumn, the Bank of Lithuania revoked the licence of UAB Finolita Unio for severe infringements of anti-money laundering and counter-terrorist financing requirements.

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Bank of Lithuania imposed a €350,000 fine on Luminor Bank AS

The Bank of Lithuania imposed a €350,000 fine on the Estonian bank Luminor Bank AS, which operates in Lithuania through its branch, for violations of the Republic of Lithuania Law on Payments, after conducting a thorough investigation of payment...

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Bank of Lithuania encourages objective and individual risk assessment of non-profit organisations

The Bank of Lithuania addressed Lithuania’s financial market participants, urging them to identify and assess money laundering and terrorist financing (ML/TF) risks of non-profit organisations individually to avoid their automatic attribution to...

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Bank of Lithuania and National Bank of Ukraine sign a Memorandum of Understanding in the field of insurance supervision

During a virtual meeting on 1 June, Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania, and Kyrylo Shevchenko, Governor of the National Bank of Ukraine, signed a Memorandum of Understanding in the field of insurance supervision and...

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Bank of Lithuania feasibility study provides assessment of open banking solutions for fintech supervision

The feasibility study carried out by the Bank of Lithuania has shown that one of the key elements in open banking – the account information service – could be used in supervision of electronic money and payment institutions (EMIs and PIs).

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Lithuania’s credit institutions granted more loans to Lithuanian residents

Balance Sheet and Interest Rates of Monetary Financial Institutions, April 2021

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Presentation at the Seimas: Increasing maturity of Lithuania‘s FinTech sector

On 26 May 2021, representatives of the Bank of Lithuania presented the FinTech sector‘s supervision at the meeting of the Seimas Committee on Budget and Finance.

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Information regarding the €2 commemorative coin dedicated to Žuvintas Biosphere Reserve

Please be informed that some of the BU-quality €2 commemorative coins dedicated to Žuvintas Biosphere Reserve in a numismatic package contain a manufacturing error in the inscription on the edge of the coins. Instead of an inscription in Lithuanian...

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Bank of Lithuania presented a Dear CEO letter to FinTech companies

The Bank of Lithuania addressed a Dear CEO letter to the managers of electronic money and payment institutions operating in Lithuania, presenting its expectations on the improvement of governance and internal control as well as strengthening of...

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Two-euro coin to feature natural treasures of Žuvintas reserve

On 19 May, the central bank will issue into circulation the €2 commemorative coin dedicated to Žuvintas Biosphere Reserve, which is included in UNESCO’s World Network of Biosphere Reserves (UNESCO’s Man and the Biosphere Programme). The mintage of...

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