2005-01-20
1. On Thursday the Board of the Bank of Lithuania decided to issue a license to the credit union Memelio taupomoji kasa.
The head office of the union will be in Klaipeda.
Until now, 61 credit unions and the Central Credit Union of Lithuania have been operating in Lithuania.
2. The Board approved the model of the 50 litas commemorative coin dedicated to Kernave (from the series “Historical and Architectural Monuments of Lithuania”). The author of the coin is the Vilnius artist Giedrius Paulauskis.
The coin dedicated to Kernave, which is included in the UNESCO World Heritage List, should be issued into circulation in the first quarter of the year.
This year the Bank of Lithuania is planning to issue five commemorative coins.
3. The Board rejected the proposal of extending the period for the distribution of commemorative coins to seven years. Currently, commemorative coins are distributed until the entire mintage is sold out but not longer that for 5 years. The coins that have not been distributed during this period are to be destroyed.
The decision not to extend the distribution period was made because the mintage of newly issued coins has recently been sold out reasonably fast. Only 9 issues of commemorative coins out of 40 issued from December 1993 are still available form the cash offices of the Bank of Lithuania.