Bank of Lithuania

Vilnius Credit Union will be able to perform all financial operations again

The Board of the Bank of Lithuania lifted the restrictions on certain financial operations applied to Vilnius Credit Union imposed on 5 May 2011 due to the deficiencies in the operation of the Union and breaches of legal acts identified during its inspection. Such a decision was taken considering the fact that Vilnius Credit Union meets the established capital adequacy requirement (13%) and the Union’s provided information on the elimination of the breaches of legal acts and operational deficiencies identified during its inspection.  

Kaunas Credit Union allowed to increase its capital base

The Board of the Bank of Lithuania allowed Kaunas Credit Union to include the subordinated LTL 700 000 loan with a maturity of 6 years, granted on 29 August 2011 by the Lithuanian Central Credit Union, in its Tier II capital. According to the Union, an increase in its capital base will provide possibilities for complying with the prudential requirements. 

Permission to act as Head of Administration of the Credit Union given

The Bank of Lithuania received a request from Grigiškės Credit Union for permission for Daiva Vaidogienė to become acting Head of Administration of this Credit Union during the illness, holidays or business trips of the Head of Administration.  

Decision to sell the block of shares of the Central Securities Depository of Lithuania taken

The Board of the Bank of Lithuania decided to sell 15 000 ordinary registered shares of the Central Securities Depository of Lithuania, which account for 60 per cent of the Company’s authorized capital. The nominal value of one share is LTL 100. This block of shares is owned by the Bank of Lithuania.

The Board approved the procedure for and conditions of selling the shares of the Central Securities Depository of Lithuania. Detailed pertaining information will be published on the website of the Bank of Lithuania on 16 September 2011.