100th anniversary of the re-establishment of the State of Lithuania promoted at World Money Fair in Berlin

The Bank of Lithuania together with the Lithuanian Mint is presenting collector and commemorative coins issued to mark the 100th anniversary of the Restoration of Independence of Lithuania at the World Money Fair in Berlin.     ‘The exhibition, held for the 47th time, is a social and cultural phenomenon that is not missed either … Continue reading 100th anniversary of the re-establishment of the State of Lithuania promoted at World Money Fair in Berlin

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Functions of the Bank of Lithuania. Disputes between consumers and financial market participants.

(2017, 1 min., 12 sec.). Have your rights been violated? Are you unable to solve a dispute with a financial service provider? Contact us!

The Bank of Lithuania investigates impartially and free of charge disputes between consumers and financial market participants, arising from loan, deposit, insurance and investment agreements as well as agreements on other financial services.

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Functions of Bank of Lithuania. Statistics.

(2017, 1 min., 23 sec.). The statistics compiled and published by the Bank of Lithuania mainly aim to present to the public comprehensive statistics that comply with international standards and are comparable to the statistics of other EU Member States, serving as a basis for implementing the monetary policy, macroprudential policy and supervisory tasks set for the Eurosystem and the European System of Central Banks (ESCB). We are one of the most important institutions in the country, involved in the production of official statistics used by state institutions, financial market participants, the media, international bodies and the general public.

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Functions of the Bank of Lithuania. Economic research.

(2017, 1 min., 20 sec.). Economic research at the Bank of Lithuania is primarily conducted at two units, namely, the Center for Excellence in Finance and Economic Research (CEFER) and the Applied Macroeconomic Research Division (TMTS), which is part of the Economics Department. The main aim of CEFER is to conduct and publish high-quality academic research and contribute to knowledge at the forefront of economic and financial research. The TMTS aims in particular at conducting economic and financial research with direct importance for central banking and policy-making.

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Functions of the Bank of Lithuania. Economic analysis and projections.

(2017, 1 min., 23 sec.). Economic projections of the Bank of lithuania are relevant to Lithuanian residents, corporates, the public sector and international partners: for example, projections allow Lithuanian employers to plan investment and foresee future staffing levels.

Four times a year, having assessed economic development prospects, the Bank of Lithuania publishes the latest projections for GDP, inflation, wages, unemployment rate, and other key economic indicators.

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Functions of the Bank of Lithuania. Management of Lithuania’s financial assets.

(2017, 1 min., 16 sec.). Financial assets under management comprise over EUR 5 billion and 5.8 tons of gold. Financial assets managed by the Bank of Lithuania comprise official reserve assets in foreign currencies, gold and financial assets in euro. The purpose of financial assets is to ensure the stability of the financial system in Lithuania and the euro area, create conditions for smooth monetary policy implementation, ensure the financial independence of the Bank of Lithuania and provide buffer for the country to withstand economic and financial shocks as well as other extraordinary circumstances.

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Functions of the Bank of Lithuania. Financial stability.

(2017, 1 min., 45 sec.). The Bank of Lithuania aims to contribute to the stability of Lithuania’s financial system, hence we constantly monitor and assess vulnerabilities in the system as well as take measures to ward them off. In pursuing this goal, it not only carries out a full-fledged analysis of the financial system, but also actively mitigates threats to it, thereby implementing macroprudential policy.

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Functions of the Bank of Lithuania. Supervision.

(2017, 2 min., 25 sec.). The Bank of Lithuania currently supervises over 470 financial market participants – banks, credit unions, insurance undertakings, payment institutions, management companies, consumer credit providers, issuers, etc. In supervising the financial market, the Bank uses risk-based supervision, meaning that it allocates the resources towards systemically most significant financial market participants or financial services and products posing the highest risk for consumers. Bank of Lithuania supervises the financial market by following the financial market supervision policy.

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Functions of the Bank of Lithuania. Monetary Policy.

(2017, 2 min., 25 sec.). Together with the European Central Bank and other euro area central banks, the Bank of Lithuania works towards achieving the primary objective of the single monetary policy – maintaining price stability in the euro area. Price stability is defined as inflation below, but close to, 2 per cent over the medium term. Stable prices contribute to sustainable economic growth and the improvement of resident welfare.

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