The new service will be comprised of two departments – of economic and financial stability, the central bank’s spokesman Giedrius Simonavičius told BNS.
Vitas Vasiliauskas, the Bank of Lithuania governor, said in an interview to the Verslo Žinios business daily that the new service would launch operations in May.
The central bank announced in February that it intended to concentrate the key functions in four specialized services thus focusing on core activities and shedding the functions non inherent to a central bank.
Reorganization will see the establishment of Financial Stability, Banking and Cash Management services. The Supervision Service was launched early this year. Supporting functions will be concentrated in the Organization Service and several independent units.
The central bank has not yet unveiled either the structure of units being established or reorganized or the employee numbers.
2012-05-03 11:24
Bank of Lithuania setting up Economic and Financial Stability Service
The Bank of Lithuania, which took over supervision of national financial market from January, is setting up an Economic and Financial Stability Service, which will focus on market analysis and work out proposals on measures to safeguard against systemic risks.
Lietuvos bankas / Kęstučio Vanago/BFL nuotr.
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