2009-12-30
1. The recently adopted Law on Payment Institutions regulates activities of new economic entities - payment institutions - providing payment services. The Bank of Lithuania will supervise the activities of these institutions therefore the Board of the Bank of Lithuania, like on 24 December, adopted corresponding resolutions.
The Board of the Bank of Lithuania approved the regulations on implementation of a right to provide payment services in the Republic of Lithuania and other Member States. This document establishes the procedure for the implementation of the right of a payment institution to provide payment services in other Member States and actions of the Bank of Lithuania upon the receipt of a notification from a supervision authority of other Member State of the intentions of other Member State to establish a branch or provide payment services through an agent in the Republic of Lithuania.
2. On the regulations on management of the public list of payment institutions
The Board of the Bank of Lithuania approved the regulations on management of the public list of payment institutions. They shall be applicable to payment institutions having a payment institution licence or a licence for restricted activity for a payment institution issued by the Bank of Lithuania that are registered in the Register of Legal Persons, also to the branches and agents operating either in the Republic of Lithuania or other Member States, and credit unions having a licence issued by the Bank of Lithuania.
3. On requirements for payment institutions concerning internal control, risk management and the protection of the funds received
The Board of the Bank of Lithuania approved the requirements for payment institutions concerning internal control, risk management and the protection of the funds received and statement form 5004 on implementation of the requirements for the protection of funds received by a credit institution. The document establishes the main requirements for internal control, risk management and the protection of funds received by users of payment services or funds received from other providers of payment services that are to be fulfilled by a payment institution in order to ensure stability, credibility and safety of its activity.
4. On financial statements of payment institutions
The Board of the Bank of Lithuania approved balance sheet form 5001 and profit/loss statement form 5002.
The Resolution was adopted taking into consideration that, according to the Law on Payment Institutions, payment institutions must compile collections of financial statements for supervisory purposes. Collections of financial statements compiled for supervision of payment institutions are comprised of balance sheet and profit (loss) statements.
5. On instructions for payment institutions for the prevention of money laundering and/or terrorist financing
The Board of the Bank of Lithuania resolved that, when fulfilling the requirements of legal acts regulating to the prevention of money laundering and/or terrorist financing, requirements of the instructions for credit institutions are applied mutatis mutandis with some exceptions.
6. On inclusion of subordinated loans of AB bankas SNORAS into the capital of the bank
The Board of the Bank of Lithuania gave a permission to AB bankas SNORAS to include a subordinated loan of EUR 7,500,000 (LTL 25.9 million) with the maturity of twenty years granted by Vladimir Antonov and a subordinated loan of EUR 7,500,000 (LTL 25.9 million) with the maturity of twenty years granted by Raimondas Baranauskas into the Tier 2 capital of AB bankas SNORAS.
The request for such a permission of the bank was grounded on the fact that the inclusion of the said funds would have positive effect on the financial standing of the bank, i.e. the bank and bank group could strengthen capital base and hold more reserves to cover potential losses, and would have positive effect on the fulfilment of prudential requirements and liquidity of the bank. Moreover, increase of capital would enable the bank to ensure fulfilment by the bank its capital adequacy ratio.
After the approval of the said resolution of the Bank of Lithuania, capital base of AB bankas SNORAS amounts to LTL 540.8 million according to the data of 1 December.
7. On acquisition of the qualifying holding of AB Siauliu bankas authorised capital and/or voting rights
The Board of the Bank of Lithuania gave a permission for Algirdas Butkus, Arvydas Salda, Gintaras Kateiva, Sigitas Baguckas, Justas Baguckas, Vigintas Butkus, Vytautas Junevicius, Kastytis Jonas Vysniauskas, Vita Adomaityte, Jonas Bartkus, Daiva Kiburiene, Donatas Savickas, company group ALITA, AB; UAB House of Commerce AIVA; UAB MINTAKA, and the European Bank for Reconstruction and Development to acquire the qualifying holding of AB Siaulių bankas authorised capital and/or voting rights to the extent that the share of authorised capital and/or voting rights held by the bank would amount to 50 per cent or more.
Presently, the authorised capital of AB Siauliu bankas is LTL 180,357,533. This amount is comprised of 180,357,533 registered shares with nominal value of LTL 1 each. According to the available data, the acquirers, who are considered as acting together, hold 72,279,696 bank shares which make 40.08 per cent of the authorised capital and/or holding rights.
According to the information received by the Bank of Lithuania, shares of AB Siauliu bankas are being acquired seeking to assume stronger control of the bank and extend its activity, focusing this information on provision of services to small and medium-sized businesses.
8. On graphic designs of collectors (commemorative) coins dedicated to the 600th anniversary of the Battle of Grunwald
The Board of the Bank of Lithuania approved the results of the competition for graphic designs dedicated for 600th anniversary of the Battle of Grunwald. The first place was awarded for the designs of Rytas Jonas Belevicius, meanwhile co-authors Vladimiri Lukashik, Alesia Jacuk and Svetlana Zaskevich were awarded the second and Vidmantas Valentas was awarded the third place.
All in all, seven authors - the group of the three authors from Minsk (Belarus) who won the second place being among them - took part in the competition for graphic designs of collectors (commemorative) coins dedicated for the 600th anniversary of the Battle of Grunwald.
For the first time, three coins to commemorate this remarkable historic anniversary will be issued at a time in the second quarter.