Bank of Lithuania

1. The Board discussed the results of the inspection of Nordea Bank Finland Plc Lithuania Branch carried out from 22 April to 2 May 2002.

The inspection focused on the correctness of statements provided to the Bank of Lithuania and the information supplied to the Loan Risk Database, and performed the analysis of the structure and development trends of assets, income and expenses, liquid assets and current liabilities.

2. NORD/LB Lietuva was given permission to repay a subordinated loan of DEM 5 million to the German investment and development institution DEG before maturity.

The permission was given in view of the fact that the repayment of the loan before maturity would not have a negative impact on the financial condition of the Bank and its ability to comply with prudential requirements.

3. The Board decided to give permission to Siaulių Bank to register changes in its Articles of Association related to the increase of the share capital up to LTL 43,343,940 and the amendments setting the number of the members of the Bank’s council to 7 (instead of 9).

4. The Board decided to grant permission to Bank Snoras to register amendments in the Regulations of its Kaunas branch related to the change of the office of the Branch.

5. The Board decided to supplement Resolution No. 122 of the Board of the Bank of Lithuania of 26 September 2002 "On Approving the Criteria for Determining Whether a Monetary Operation is Suspicious"

The decision was adopted with the view of aligning the current legal acts with the UN Security Council Convention on terrorist financing; in addition, in order to ensure more effective measures for the prevention of money laundering, the list of criteria was supplemented with new ones, covering suspicious activities in the use of payment cards and repayment of loans.