Bank of Lithuania

Permission issued

The Board of the Bank of Lithuania issued permission for UAB “SEB investicijų valdymas” to invest up to 80 per cent of the value of net assets that comprise the pension assets of the pension funds “SEB Pensija 1” and “SEB Pensija plius” into transferable securities or money market instruments issued by one issuer – the Government of the Republic of Lithuania. Such permission was issued with a condition that investments will be made into no less than 6 issues of transferable securities or money market instruments and no more than 30 per cent of net assets will be invested into one issue of transferable securities or money market instruments. The permission is valid until 9 February 2015.

Foreign Reserve Investment Report presented

The Foreign Reserve Investment Report of 2011 prepared by the Market Operations Department of the Bank of Lithuania was presented to the Board of the Bank of Lithuania.

The Report reviewed the trends of change in foreign reserves, portfolio management results and their factors. The Board was presented the assessment of the exchange rate, interest rates and credit risk as well as the results of stress testing.

It was noted that investment results were affected by the uncertain situation in the euro area government debt securities market. It was also noted that, in accordance with conservative risk assessment, investment diversification was increased, while at the same time special attention was paid to maintaining high foreign reserve liquidity.