2006-06-16
1. The Board of the Bank of Lithuania was informed about the results of the inspection of Nordea Bank Finland Plc Lithuania branch. The branch was instructed to remove all deficiencies established during the inspection.
2. The Board granted permission to AB DnB NORD Bankas to include the subordinated 10-year loan of EUR 16 million (LTL 55.2 million) received from its parent bank Bank DnB NORD registered in Denmark in Tier 2 capital of the bank.
According to the statement of AB DnB NORD Bankas the higher capital base of the bank will provide opportunities to increase its assets, expand banking activities and ensure compliance with prudential requirements.
Upon receiving permission of the Board of the Bank of Lithuania to include the new subordinated loan in Tier 2 capital of the bank, the capital base (the recalculated bank capital) of AB DnB NORD Bankas will reach LTL 502.2 million, according to the data for 1 June.
3. The Board of the Bank of Lithuania made a decision to amend or repeal certain resolutions of the Board of the Bank of Lithuania on accounting and reporting.
Old reporting forms, that had to be submitted by banks, will be abandoned during the transition to the requirements of the International Financial Reporting Standards (IFRS) applied to financial reporting in the European Union.
4. The Bank of Lithuania did not object to the request of the Central Credit Union of Lithuania for permission to elect (appoint) Mr. Deividas Burokas as the Chairman of the Board and the Head of Administration of the Central Credit Union of Lithuania.
Mr. Deividas Burokas works as the Head of the Information Technologies Division of the Central Credit Union from December 2002 and, upon receiving permission of the Board of the Bank of Lithuania, he acts as the Head of Administration of the Central Credit Union from 2 May 2005.