2003-01-23
1. The Board discussed the results of the inspection of AB HANSA-LTB carried out from October 8 to December 4, 2002.The inspection established that the Bank complied with all prudential requirements. The Bank was instructed to remove the shortcomings in the application of the International
1. The Board discussed the results of the inspection of AB HANSA-LTB carried out from October 8 to December 4, 2002.
The inspection established that the Bank complied with all prudential requirements.The Bank was instructed to remove the shortcomings in the application of the International Accounting Standards.
Under the agreement on co-operation in banking supervision concluded in March 2001 between the Bank of Lithuania and the Bank of Estonia, the inspection of AB HANSA-LTB involved, for the first time, experts of the Estonian Financial Institutions Supervisory Authority.
2. The Board decided to amend the provision of the Rules on Setting Litas and Foreign Currency Exchange Rates pertaining to the effective date of the set rates.
In accordance with the amendments, the set exchange rates of the litas against foreign currencies will become effective on the following business day after the date of the setting and will remain effective until another exchange rate comes into effect. Under the previous provisions, such exchange rates became effective on the following day.
The amendments were introduced with the aim of harmonising the accounts presented by commercial banks.
3. The Board approved the schedule of issuing commemorative coins in 2004 and 2005.
Under the schedule, three 50 litas silver commemorative coins will be issued in 2004: coins dedicated to the Ensemble of Pažaislis Monastery of Camaldolese Monks (series “Monuments of Lithuanian History and Architecture”), the 425th anniversary of Vilnius University and the 475th anniversary of the First Lithuanian Statute. The fourth, 5 litas denomination silver commemorative coin, will be dedicated to the Curonian Spit (international UNESCO world heritage programme).
Also, three 50 litas silver commemorative coins will be issued in 2005:coins dedicated to Kernavė (series “Monuments of Lithuanian History and Architecture”), the 150th anniversary of the National Museum of Lithuania, and the 100th anniversary of the Great Seimas of Vilnius.
In addition, two coins dedicated to the Palace of the Rulers of the Grand Duchy of Lithuania will be issued:a 500 litas gold coin and a 1 litas copper and nickel commemorative circulation coin.
4. The Board approved the sample of the 50 litas commemorative coin to mark the XXVIII Olympic Games in Athens. The coin will be issued in the fourth quarter of 2003.