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The Bank of Lithuania ( lt, Lietuvos bankas) is the
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.
The Bank of Lithuania
Lithuania Lithuania Banks of Lithuania 1922 establishments in Lithuania Banks established in 1922 Companies based in Vilnius Financial regulatory authorities of Lithuania {{Lithuania-company-stub
The Bank of Lithuania ( lt, Lietuvos bankas) is the central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central b ...
of the Republic of Lithuania
A republic () is a "state in which power rests with the people or their representatives; specifically a state without a monarchy" and also a "government, or system of government, of such a state." Previously, especially in the 17th and 18th c ...
. The Bank of Lithuania is a member of the European System of Central Banks
The European System of Central Banks (ESCB) is an institution that comprises the European Central Bank (ECB) and the national central banks (NCBs) of all 27 member states of the European Union (EU). Its objective is to ensure price stability t ...
. The chairman of the bank is Gediminas Šimkus. Until 2015, the Bank of Lithuania was responsible for issuing the former Lithuanian national currency – the litas.
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.
Bank leadership
Governors of the Bank of Lithuania: * Vladas Jurgutis (1922–1929) * Vladas Stašinskas (1930–1939) * Juozas Tūbelis (1939) * Juozas Paknys (1939–1940) Chairmen of the board of the Bank of Lithuania: * 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 andKlaipėda
Klaipėda (; ; german: Memel; pl, Kłajpeda; russian: Клайпеда; sgs, Klaipieda) is a city in Lithuania on the Baltic Sea coast. The capital of the eponymous county, it is the third largest city and the only major seaport in Lithuania ...
.
See also
*Economy of Lithuania
The economy of Lithuania is the largest economy among the three Baltic states. Lithuania is a member of the European Union and belongs to the group of very high human development countries and is a member of the WTO and OECD.
In the 1990s, ...
*Lithuanian litas
The Lithuanian litas ( ISO currency code LTL, symbolized as Lt; plural ''litai'' (nominative) or ''litų'' (genitive) was the currency of Lithuania, until 1 January 2015, when it was replaced by the euro. It was divided into 100 centų (genit ...
* Vladas Jurgutis Award
References
External links
The Bank of Lithuania
Lithuania Lithuania Banks of Lithuania 1922 establishments in Lithuania Banks established in 1922 Companies based in Vilnius Financial regulatory authorities of Lithuania {{Lithuania-company-stub