2012-05-10
Permission issued to reorganise the insurance company “ERGO Lietuva”
The Board of the Bank of Lithuania decided to issue permission to reorganise the joint stock insurance company “ERGO Lietuva” by merging it with the company ERGO Kindlustuse Aktsiaselts (Republic of Estonia).
After obtaining permission, “ERGO Lietuva” may initiate and perform reorganisation procedures provided by the legal acts, however, their finalisation is possible only when the Bank of Lithuania confirms that the permission issued to reorganise the joint stock insurance company “ERGO Lietuva” is valid and reorganisation may be finalised.
Graphic designs of the coin dedicated to the Lithuanian nature approved
The Board of the Bank of Lithuania approved the results of the graphic design competition for the 50 litas silver commemorative coin dedicated to the Lithuanian nature. The design by Gediminas Karalius was nominated as the winner. His graphic designs for the obverse and reverse of the coin were also approved.
The reverse of the graphic design of the approved coin features the European pond turtle (Emys orbicularis), which is included in the Red List of Lithuania and is very rare and protected in many European countries. The edge of the coin bears the inscription LIETUVOS GAMTA (Lithuanian nature).
The issue of this coin into circulation is planned in the fourth quarter of 2012.
Annual Report of the Bank of Lithuania approved
The Board of the Bank of Lithuania approved the Annual Report of the Bank of Lithuania for 2011.
The Law on the Bank of Lithuania establishes that the Bank of Lithuania publishes its annual report as a separate publication, where it provides information on the main tasks of monetary policy and their implementation, monetary policy operations, credit institutions supervision activities and other responsibilities established by the legislation as well as information on the macroeconomic situation of the country, such as analysis of the developments in the national economy and financial markets, and on the financial situation of the Bank and the results of its activities.
Report to the Seimas approved
The Board of the Bank of Lithuania approved the Report on the Implementation of the Primary Objective of the Bank of Lithuania, Performance of its Functions and the Situation in the Banking System.
The document presents information about international and national macroeconomic developments, analyses the performance of central bank functions.
According to the Law on the Bank of Lithuania, twice a year, Chairman of the Board of the Bank of Lithuania delivers reports to the Seimas on the implementation of its primary objective, performance of its functions, and the state of the banking system.
Lithuanian Economic Review and medium-term macroeconomic forecasts approved
The Board of the Bank of Lithuania approved the new Lithuanian Economic Review and medium-term economic forecasts prepared by the Economics Department. The Review and the forecasts are available on the Bank of Lithuania website.