Bank of Lithuania: Difference between revisions

Bank of Lithuania
Lietuvos bankas (in Lithuanian)
Headquarters	Vilnius
Coordinates	54°41′10″N 25°17′00″E / 54.68611°N 25.28333°E
Established	27 September 1922 [1]
Ownership	100% state ownership
Chairman	Gediminas Šimkus
Central bank of	Lithuania
Reserves	$1.310 billion
Succeeded by	European Central Bank (2015)1
Website	The Bank of Lithuania (in Lithuanian and English)
	1 The Bank of Lithuania still exists but many functions have been taken over by the ECB.

Browse history interactively

← Previous edit Next edit →

Content deleted Content added

VisualWikitext

Inline

Revision as of 17:59, 15 July 2023

The Bank of Lithuania (Template:Lang-lt) is the central bank of the Republic of Lithuania. The Bank of Lithuania is a member of the European System of Central Banks. The chairman of the bank is Gediminas Šimkus. Until 2015, the Bank of Lithuania was responsible for managing the former Lithuanian national currency, the litas. It became a part of the Eurosystem when Lithuania adopted the euro on 1 January, 2015.

Primary functions

According to the Bank's official website, the Bank of Lithuania performs these primary functions:

maintaining price stability,
formulating and implementing the monetary policy,
acting as an agent of the State Treasury.

As a member of the European System of Central Banks, the Bank of Lithuania participates in the formulation and implementation of the monetary policy of the eurozone.

Bank leadership

Governors of the Bank of Lithuania:^[2]

Vladas Jurgutis (1922–1929)
Vladas Stašinskas (1930–1939)
Juozas Tūbelis (1939)
Juozas Paknys (1939–1940)

Chairmen of the board of the Bank of Lithuania:^[2]

Bronius Povilaitis (1990)
Vilius Baldišis (1990–1993)
Romualdas Visokavičius (1993)
Kazys Ratkevičius (1993–1996)
Reinoldijus Šarkinas (1996–2011)
Vitas Vasiliauskas (2011–2021)
Gediminas Šimkus (since 2021)

Management and structure

The Bank is governed by a board consisting of a chairperson, two deputy chairpersons and two members.

According to The Bank of Lithuania official website, it is managed by Supervision Service; ten departments: Economics, Statistics, Market Operations, International Relations, Payment Systems, Cash, Accounting, Information Technology, General Services and Security; six autonomous divisions (Internal Audit, Legal, Organisation and Personnel, General and Public Relations, Risk Management), and Bank of Lithuania Branches in Kaunas and Klaipėda.

References

^ ^a ^b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
^ ^a ^b "Historical timeline". www.lb.lt. Archived from the original on 25 November 2020. Retrieved 22 March 2020.

External links

The Bank of Lithuania (in Lithuanian and English)

This European bank or insurance-related article is a stub. You can help Wikipedia by expanding it.

This Lithuanian corporation or company article is a stub. You can help Wikipedia by expanding it.

[dnbinfo-1] Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.

[bankhistory-2] "Historical timeline". www.lb.lt. Archived from the original on 25 November 2020. Retrieved 22 March 2020.

[1]

[2]

@@ Line 17: / Line 17: @@
 }}
 [[File:Central Office of the Bank of Lithuania 2019.jpg|thumb|right|Bank of Lithuania headquarters in [[Gediminas Avenue]], built by the order of [[Józef Montwiłł]] in 1889–1891]]
-[[File:Lietuvos bankas by Augustas Didzgalvis.jpg|thumb|Aerial view]]
+[[File:LB by Augustas Didzgalvis.jpg|thumb|Aerial view]]
 '''The Bank of Lithuania''' ({{lang-lt|Lietuvos bankas}}) is the [[central bank]] of the [[Lithuania|Republic of Lithuania]]. The Bank of Lithuania is a member of the [[European System of Central Banks]]. The chairman of the bank is Gediminas Šimkus. Until 2015, the Bank of Lithuania was responsible for managing the former Lithuanian national currency, the [[Lithuanian litas|litas]]. It became a part of the [[Eurosystem]] when Lithuania adopted the [[euro]] on 1 January, 2015.

Authority control databases
International	ISNI VIAF
National	United States Israel

v t e Central banks
Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board
Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel Accords
Implementation	Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund
Bretton Woods system	International Monetary Fund World Bank Group International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes International Development Association International Finance Corporation Multilateral Investment Guarantee Agency
Lists	List of central banks Central banks and currencies of Africa Central banks and currencies of Asia-Pacific Central banks and currencies of the Caribbean Central banks and currencies of Europe Central banks and currencies of the Americas

v t e Central banks of the European Union
Within Eurozone (Members of the Eurosystem)	National Bank of Belgium Croatian National Bank Central Bank of Cyprus Deutsche Bundesbank Bank of Estonia Bank of Finland Banque de France Bank of Greece Central Bank of Ireland Bank of Italy Bank of Latvia Bank of Lithuania Central Bank of Luxembourg Central Bank of Malta De Nederlandsche Bank Oesterreichische Nationalbank Banco de Portugal National Bank of Slovakia Bank of Slovenia Bank of Spain
Outside Eurozone	Bulgarian National Bank Czech National Bank Danmarks Nationalbank Hungarian National Bank National Bank of Poland National Bank of Romania Sveriges Riksbank
Banking-related EU institutions	European Central Bank European System of Central Banks European Investment Bank
Central banks European Union