On 21 July 1940, Lithuania was incorporated into the Soviet Union.
On 26 July 1940, the occupant government of Lithuania adopted the Law on the Nationalisation of Banks, which was directly related to the Bank of Lithuania and other commercial banks in Lithuania. The country’s largest banks were nationalised, deposits were restricted and valuables stoted at banks were overtaken. The nationalisation of the Bank of Lithuania was finalised on 6 August 1940, whereas in October it was incorporated into the State Bank of the USSR and turned into its Lithuanian republican office.
This was how the 28-year history of the independent Lithuanian bank was interrupted and was revived 27 years ago, when the Bank of Lithuania was established once again in 1990.
