2006-08-10
1. On the Siauliu Bankas inspection results
The Board of the Bank of Lithuania discussed the Siauliu Bankas inspection results and issued an instruction to the bank requesting the removal of violations and shortcomings in the banks operations as pointed out in the inspection report by 1 November 2006.
The inspection was carried to examine credit risk management in the bank as well as the bank management and internal control related to this type of risks.
2. On inclusion of the current year profit into the capital of DnB NORD bank, a joint stock company
The Board of the Bank of Lithuania gave permission to a joint-stock company DnB NORD bank to include a retained profit of LTL12.49 million for the current year into the bank's Tier II capital.
On 30 June, 2006, amendments to the rules for calculating capital adequacy came into effect. The Board of the Bank of Lithuania made them to step up the credit and other risks management in the banking system and increase the effectiveness of the risk mitigation with the help of own capital. A certain portion of the retained profit for the current year less payable taxes and dividends have been allowed to be included into the bank capital only after receiving the bank's auditor (an independent audit company) verifies the truthfulness of the amount and a permission of the Bank of Lithuania is received.
3. On inclusion of the current year profit into the capital of Bank Snoras, a joint-stock company
The Board of the Bank of Lithuania issued permission to a joint-stock company Bank Snoras to include a retained profit of LTL8.57 million for the current year into the bank's Tier II capital.
4. On inclusion of current year profit into the capital of Bank Hansabankas
The Board of the Bank of Lithuania issued permission to a joint-stock company Bank Hansabankas to include a retained profit of LTL33.89 million for the current year into the bank's Tier II capital.
5. On the bank risk management policy of the Bank of Lithuania
The Board of the Bank of Lithuania approved of the risk management policy in the Bank of Lithuania.
The document highlights the goals, principles of the risk management process, its participants, their functions, risk management process phases and other related aspects.
The Law on the Bank of Lithuania, other legal acts, provisions of the international standards in this field, and methodical documents submitted by consultants were taken into account when preparing the risk management policy of the Bank of Lithuania.
The provisions of the risk management policy of the Bank of Lithuania are to be used as the basis during the work on other documents regulating the risk management process.