Bank of Lithuania
2011-04-28

Discussion of the results of the inspection of BIGBANK AS Branch

Members of the Board of the Bank of Lithuania discussed the information about the inspections results of the credit institution BIGBANK AS 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, compliance with the Bank of Lithuania requirement regarding the liquidity reserve and liquidity counterbalancing capacity, and effectiveness of the internal control system were checked. By way of selective check-up, compliance with the requirements established by the Bank of Lithuania for the data entry into the Loan Risk Database was checked.

The Credit Institutions Supervision Department of the Bank of Lithuania was instructed to inform BIGBANK AS of the Republic of Estonia and the Estonian credit institutions supervisory authority about the results of the inspection of BIGBANK AS Branch.

Analysis of the inspection report ofDanske Bank A/S Lithuania Branch

Members of the Board of the Bank of Lithuania analysed the inspection report of Danske Bank A/S Lithuania Branch. Correctness of the preparation of the branch's financial statements and reports for supervisory purposes submitted to the Bank of Lithuania, ensuring compliance with the liquidity ratio, compliance with the Bank of Lithuania requirement regarding the liquidity reserve and liquidity counterbalancing capacity, and effectiveness of the internal control system were checked. Compliance with the requirements of the legal acts regulating money laundering and terrorist financing prevention was checked. In addition, by way of selective check-up, compliance with the requirements established by the Bank of Lithuania for the data entry into the Loan Risk Database was checked.

The Credit Institutions Supervision Department of the Bank of Lithuania was instructed to inform the bank of the Kingdom of Denmark Danske Bank A/S and the credit institutions supervisory authority of the Kingdom of Denmark about the results of the inspection of Danske Bank A/S Lithuania Branch.

Presentation of the results of the inspection of Nordea Bank Finland Plc Lithuania Branch

The inspection report of Nordea Bank Finland Plc Lithuania Branch was presented at the meeting of the Board of the Bank of Lithuania. Correctness of the preparation of the branch's financial statements and reports for supervisory purposes submitted to the Bank of Lithuania, ensuring compliance with the liquidity ratio, compliance with the Bank of Lithuania requirement regarding the liquidity reserve and liquidity counterbalancing capacity, and effectiveness of the internal control system were checked. Compliance with the requirements of the legal acts regulating money laundering and terrorist financing prevention was checked. In addition, by way of selective check-up, compliance with the requirements established by the Bank of Lithuania for the data entry into the Loan Risk Database was checked. Interest was taken in the ratio of loans to mortgaged assets when engaging in crediting activity in the area of housing loans. The branch assured that, taking into account the adjustment of the values of the mortgaged assets, the ratio of housing loans to mortgaged assets will not exceed 90 per cent.

The Credit Institutions Supervision Department of the Bank of Lithuania was instructed to inform the bank of the Republic of Finland Nordea Bank Finland Plc and the credit institutions supervisory authorities of the Republic of Finland and the Kingdom of Sweden about the results of the inspection of Nordea Bank Finland Plc Lithuania Branch.

Issue of a limited licence of a payment institution to the company “Ashburn International”

The Board of the Bank of Lithuania decided to issue a limited licence of a payment institution to UAB “ASHBURN INTERNATIONAL” (Vilnius), which grants the right to provide the payment service (money remittances) established in Paragraph 6 of Article 5 of the Republic of Lithuania Law on Payments.

Inclusion of UAB “Perlo paslaugos” intermediaries in the public list of payment institutions

The Board of the Bank of Lithuania decided to include UAB “Perlo paslaugos” intermediaries (UAB “PALINK”, MAXIMA LT, UAB, UAB “RIMI LIETUVA” and UAB Utenos prekyba) in the public list of payment institutions.

This was made on the request of UAB “Perlo paslaugos”. The payment institution licence, which grants the right to provide the payment service (money remittances) established in Paragraph 6 of Article 5 of the Republic of Lithuania Law on Payments, was issued to this company by the Resolution of the Board of the Bank of Lithuania of 18 January 2011. UAB “Perlo paslaugos” was included in the public list of payment institutions on 19 January 2011. On 20 April 2011, six intermediaries of UAB “Perlo paslaugos” (UAB “Gulbelė”, Ukmergė Region Consumer Cooperative Society, UAB “Grūstė”, UAB “LUPRA”, UAB “STILSENA” and UAB “Šilutės prekyba”) were included in the public list of payment institutions.

Presentation of the information on the operation of credit institutions

The information on the operation of credit institutions provided by the Credit Institutions Supervision Department of the Bank and information on the activity of this Department in the first quarter of 2011 was presented to the Board of the Bank of Lithuania. The review of this activity is published on the website of the Bank of Lithuania.