OREANDA-NEWS. On February 11, 2009 The management of the Swedish Financial Supervisory Authority and the representative of the central bank of Sweden visited the Bank of Lithuania, reported the press-centre of Bank of Lithuania.

The guests met with the Chairman of the Board of the Bank of Lithuania Reinoldijus Sarkinas, Member of the Board Audrius Misevicius, Director of the Economics Department Raimondas Kuodis and Director of the Credit Institutions Supervision Department Kazimieras Ramonas.

“The Memorandum of Understanding on Co-operation in the Area of Credit Institutions Supervision has been signed earlier between the Bank of Lithuania and the Swedish Financial Supervisory Authority. In the context of this Memorandum, important banking-related issues were discussed today with the Swedish representatives. The intention of both parties to exchange information and cooperate intensively, as foreseen in the Memorandum, was confirmed”, told Mr. Reinoldijus Sarkinas after the meeting.

According to him, the guests informed about the actions taken by the Swedish Government to maintain stability of the banking sector and provided the assessment of the current situation of the financial sector by the Swedish authorities.

Representatives of the Bank of Lithuania presented the overview of Lithuania’s macroeconomic situation and the forecasts for the nearest period and told about the preventive measures of the Bank of Lithuania and the Government to ensure stability of operation and balanced development of the banking system. It was mentioned, inter alia, that the draft Financial Stability Enhancement Law is currently under preparation. It is expected that this law will be adopted in the nearest time.

The Bank of Lithuania and the Swedish Financial Supervisory Authority signed the Memorandum of Understanding on Co-operation in the Area of Credit Institutions Supervision in 2004. Such memoranda of understanding have also been signed with central banks and financial supervisory authorities of seven more countries.