2010-01-28
1. On implementation of the measures proposed in the assessment of the securities settlement system of the AB Lietuvos centrinis vertybiniu popieriu depozitoriumas
The Board of the Bank of Lithuania approved the assessment of the implementation of the measures concerning the recommendations for the settlement systems made by the BIS to the AB Lietuvos centrinis vertybiniu popieriu depozitoriumas.
In 2008, the Payment Systems Department of the Bank of Lithuania carried out an assessment whether securities settlement system of AB Lietuvos centrinis vertybiniu popieriu depozitoriumas, public limited liability company) complies with the recommendations for securities settlement systems established by the BIS. A number of measures were proposed in the assessment report in order to meet all the requirements of the recommendations. Some of those measures have already been implemented and some will be implemented in the near future. Implementation of remaining measures is postponed due to change in securities market or the need for central banks of Lithuania and other Baltic States to coordinate their actions.
2. On the assessment of the settlement systems of the Bank of Lithuania LITAS-RLS and LITAS-MMS according to the Core Principles for Systematically Important Payment Systems established by the BIS
The Board of the Bank of Lithuania approved the Report on the Assessment of the Settlement Systems of the Bank of Lithuania LITAS-RLS and LITAS-MMS According to the Core Principles for Systematically Important Payment Systems established by the BIS.
Last year, the Payment Systems Department carried out an assessment whether the payment systems of the Bank of Lithuania LITAS-RLS and LITAS-MMS complied with the Core Principles for Systematically Important Payment Systems established by the BIS. The assessment proved that the payment systems complied with all the principles applied to them. The operator of the system manages properly legal, financial and operational risks and creates incentives to do so for the participants of the system as well. Moreover, a number of recommendations were offered, implementation of which would strengthen reliability of operation and/or efficiency of the systems.
The Bank of Lithuania manages the real-time gross settlement system LITAS-RLS and the designated time retail payment system LITAS-MMS and performs the function of the operator of these systems. These systems are applied for settlements in litas. The participants of these systems are the Bank of Lithuania, domestic commercial banks, foreign bank branches, Lithuanian Central Credit Union, financial brokerage companies, AB Lietuvos centrinis vertybiniu popieriu depozitoriumas.
3. Information on the activities of credit institutions and the Department of the Credit Institutions Supervision Department in 2009
The Board of the Bank of Lithuania was supplied with the information from the Credit Institutions Supervision Department about the activities of the domestic credit institutions and supervision thereof in 2009.
4. On the approval of the standard of the 10 litas collector (commemorative) silver coin dedicated to music (from the series Culture of Lithuania)
The Board of the Bank of Lithuania approved the 10 litas collector (commemorative) silver coin dedicated to music (from the series Culture of Lithuania). The coin is to be put into circulation in the first quarter of 2010.
The graphic design of the coin was created by Ruta Cigriejute, and the gypsum model by Rytas Jonas Belevicius. The standard was made by UAB Lietuvos monetu kalykla (Lithuanian Mint, private limited liability company). This will be a new series of collectors’ coins dedicated to Lithuanian culture. 10 litas silver coins will be issued for the first time.