1. Results of the inspection of AS “UniCredit
Bank” Lithuania branch
The Board of the Bank of Lithuania was presented
information on the inspection of the bank AS “UniCredit Bank” Lithuania
branch. Correctness of the preparation of financial statements and reports for
supervisory purposes submitted to the Bank of Lithuania, ensuring compliance
with the liquidity ratio and effectiveness of the internal control system were
checked. In addition, by way of selective check-up, compliance with the
requirements for the data entry into the Loan Risk Database was checked.
The Credit Institutions Supervision Department
was instructed to inform the bank of the Republic of Latvia AS „UniCredit
Bank“ and the supervisory authority of the Republic of Latvia about the
results of the inspection of AS „UniCredit Bank“ Lithuania branch.
Supervision of branches established in the
Republic of Lithuania by foreign banks licensed in the European Union (EU)
Member States is conducted by the supervisory authority of the EU Member State
within whose jurisdiction that foreign bank is; however this does not limit
the right of Lithuania’s supervisory authority to conduct their supervision in
observance of the provisions of the EU directives and the legal acts of the
Republic of Lithuania.
The Bank of Lithuania is responsible for the
supervision of compliance with the liquidity ratio, monitors deposit
concentration in these branches, analyses their financial indicators,
developments of assets and liabilities, income and costs, internal control
mechanisms. In order to ensure that the information about the operation of
these branches in Lithuania that was submitted to the Bank of Lithuania is
correct, inspections are performed during which the above-mentioned
information is checked, and on the request of a supervisory authority of a EU
Member State other information may also be examined.
2. Permission for AB Medicinos bankas to repay a
subordinated loan before maturity
The Board of the Bank of Lithuania issued
permission for AB Medicinos bankas to repay before maturity a subordinated
loan of EUR 10,000,000 (LTL 34,528,000) received from Saulius Karosas
according to the subordinated loan agreement of 9 June 2006.
The funds to be repaid according to the agreement
will be directed by the bank for forming a special purpose reserve for
covering losses, thus enhancing the bank’s capital base.
