Bank of Lithuania
2011-04-29
1 of 1

In the meeting of the Chairman of the Board of the Bank of Lithuania Vitas Vasiliauskas with the members of the Association of Lithuanian Banks, urgent issues related to the financial sector and banking were discussed.

Vitas Vasiliauskas said: “Tariffs on the socially sensitive services provided by banks today is a very important and, to many of us, painful issue therefore it must be urgently discussed and solved”. According to him, because of the current situation, it is necessary to revise and amend the methodology and ideology of the fixing of these tariffs. This issue will be considered together with commercial banks.

As members of the Association said, the banks would be more active in explaining to the public the benefits of settlements through electronic channels and would encourage their usage because large flows of such settlements would allow to maintain low service tariffs.

During the meeting the planned reconstruction of the supervision of financial institutions in Lithuania was discussed. The need to perform such supervision in a centralised way in the central bank of the Republic of Lithuania and preparations for that were also discussed.

According to Vitas Vasiliauskas “This is my first and, it may be said, introductory meeting with members of the Association of Lithuanian Banks which I held as the Chairman of the Bank of Lithuania. We agreed to arrange such meetings regularly in the future and exchange opinions on urgent issues”.

The Association of Lithuanian Banks comprises eleven commercial banks and foreign bank branches operating in the country.