Bank of Lithuania

Bank of Lithuania
Lietuvos bankas (in Lithuanian)
Headquarters	Vilnius
Coordinates	54°41′10″N 25°17′00″E / 54.68611°N 25.28333°ECoordinates: 54°41′10″N 25°17′00″E / 54.68611°N 25.28333°E
Established	27 September 1922 [1]
Ownership	100% state ownership
Chairman
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.

The Bank of Lithuania (Lithuanian: Lietuvos bankas) 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 . Until 2015, the Bank of Lithuania was responsible for issuing the former Lithuanian currency, the litas.

Primary functions[]

Bank of Lithuania headquarters in Gediminas Avenue, built by the order of Józef Montwiłł in 1889–1891

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:^[2]

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

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

(1990)
Vilius Baldišis (1990–1993)
(1993)
(1993–1996)
Reinoldijus Šarkinas (1996–2011)
(2011–2021)
(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[]

^ Jump up to: ^a ^b https://d-nb.info/1138787981/34
^ Jump up to: ^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)

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[dnbinfo-1] Jump up to: ^a ^b https://d-nb.info/1138787981/34

[bankhistory-2] Jump up to: ^a ^b "Historical timeline". www.lb.lt. Archived from the original on 25 November 2020. Retrieved 22 March 2020.

[1]

[2]

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