OREANDA-NEWS. January 20, 2010. 1. On the production and issue of a numismatic set of circulation coins of the 2010 issue dedicated to the 20th anniversary of the restoration of the Independence of Lithuania, reported the press-centre of Bank of Lithuania.

The Board of the Bank of Lithuania decided to order the production of a numismatic set of circulation coins of the 2010 issue dedicated to the 20th anniversary of the restoration of the Independence of Lithuania.

The set will be composed of 10 ct, 20 ct, 50 ct, 1 litas, 2 litas and 5 litas denomination circulation coins and a commemorative sign to mark the restoration of the State.

According to the Board resolution, the mintage of the new coin set will amount to 3 500 pieces.

A brass commemorative sign to mark the restoration of the State is envisaged to be incorporated into the set. The circulation set is planned to be issued into circulation on 8 March 2010.

The Bank of Lithuania has already issued five numismatic sets:
in 1991, 2000, 2003, 2008 and 2009.

2. On the information concerning the results of inspections of credit unions in the fourth quarter of 2009

The Board of the Bank of Lithuania was presented the Credit Institutions Supervision Department’s information on the results of credit union inspections in the fourth quarter of 2009.
General inspections have been made in ten credit unions - ”Germanto lobis” (Telsiai), ”Giminele” (Kaunas), ”Sostines kreditas” (Vilnius), ”Laikinosios sostines kreditas ” (Kaunas region), ”Savas rupestis” (Siauliai), ”Vievio taupa”, Pagegiai, Seda, Kaunas Archbishopric, Varena - and target inspection - in ”Akademine kredito unija” (Kaunas).

During general inspections the compliance of the credit unions with the Republic of Lithuania Law on Credit Unions and other legal acts regulating their activities, articles of association of credit unions was verified; in addition, the removal of the deficiencies identified during previous inspections was checked, activities and the financial standing (management of credit and liquidity risk, capital) of credit union bodies were examined.

During the inspection of the ”Akademine kredito unija”, the removal of deficiencies identified in the previous inspection report was verified.

Inspection reports of all credit unions inspected in the fourth quarter of 2009, included instructions on the removal of deficiencies and presentation of information to the Bank of Lithuania about this action.

Top management of the Kaunas Archbishopric credit union and of ”Vievio taupa” were obliged to work out plans for the removal of deficiencies and to come to the Bank of Lithuania in January 2010 for the consideration of inspection results.