2005-05-30
1. The Board of the Bank of Lithuania decided to notify the credit institution supervision authorities of the Republic of Estonia and the Republic of Latvia about the intentions of the AB SEB Vilniaus Bankas to provide financial services in these countries following the provisions of Article 21 of Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions.
Pursuant to the notification received by the Bank of Lithuania, the AB SEB Vilniaus Bankas intends to provide the following financial services without setting up a branch in Estonia and Latvia: trading for its own account or for the account of customers (in cheques, bills, certificates of deposit and other money market instruments; foreign exchanges; financial futures and options; exchange and interest-rate instruments; transferable securities); participation in securities issues and the provision of services related to such issues; money brokering; portfolio management and advice; safekeeping and administration of securities.
2. The Board of the Bank of Lithuania approved Requirements to the Activities and Management of Risks of Specialised Banks that are applied to specialised banks authorised only to issue and manage electronic money.
The document establishes capital requirements, limitations of investment and risk management requirements to a specialised bank and regulates the application of laws and legal acts of the Republic of Lithuania to specialised banks.
The requirements approved by the Board of the Bank of Lithuania were drafted to comply with Directive 2000/46/EC of the European Parliament and of the Council on the taking up, pursuit of and prudential supervision of the business of electronic money institutions.
3. The Board approved the model of the 50 litas commemorative coin to honour the Cardinal Vincentas Sladkevicius (1920?2000).
The author of the graphic (artistic) design and plaster model of the coin is Giedrius Paulauskis.
The new coin will be issued in the third quarter of 2005.