Lithuania : Banking System Assessment

The Bank of Lithuania (BoL), the Central Bank, was established in 1990. BoL has the exclusive right to grant and revoke licenses to local and foreign banks and to supervise their activities. Private commercial banking boomed from 1991 to 1994 while bank regulation was lax. In late 1995, a bank crisis caused failures of most of the Lithuanian banks, and the remaining banks resulted in better managed and supervised institutions. BoL also applied tougher regulation on the banking sector. All commercial banks now need to have their financial records audited every year by an international auditing firm. This report includes the following headings: risks and contingency crisis management in the Lithuanian banking system; credit risk and regulatory issues; and description of corporate debt restructuring procedures in Lithuania.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2009-12
Subjects:	ADMINISTRATIVE COSTS, AGREEMENT OF CREDITORS, ARREARS, ASSET RESOLUTION, ASSET VALUES, ASSETS, AUDITING, BALANCE SHEET, BALANCE SHEETS, BANK BRANCHES, BANK DEBT, BANK EQUITY, BANK FAILURES, BANK LOANS, BANKING SECTOR, BANKING SYSTEM, BANKING SYSTEMS, BANKRUPT, BANKRUPTCY CASES, BANKRUPTCY FILINGS, BANKRUPTCY LAW, BANKRUPTCY MANAGEMENT, BANKRUPTCY PETITION, BANKRUPTCY PROCEDURES, BANKRUPTCY PROCEEDING, BANKRUPTCY PROCEEDINGS, BANKRUPTCY PROCESS, BORROWER, BUSINESS PLAN, CAPITAL ADEQUACY, CASH FLOWS, CLAIM, CLAIMS OF CREDITORS, CLAIMS OF EMPLOYEES, COLLATERAL, COLLECT DEBTS, COMMERCIAL BANKS, CONCESSIONS, CONFLICT OF INTEREST, CORPORATE DEBT, CORPORATE DISTRESS, COURT OF APPEALS, COURT ORDER, CREDIBILITY, CREDIT INSTITUTIONS, CREDIT LOSSES, CREDIT MARKETS, CREDIT RISK, CREDITOR, CREDITORS, CREDITORS COMMITTEE, CREDITORS HOLDING CLAIMS, CREDITORS MEETING, CREDITS, CROSS-BORDER INSOLVENCIES, CURRENCY DEVALUATION, DEBT GUARANTEE, DEBT GUARANTEES, DEBT RESTRUCTURING, DEBTOR, DEBTORS, DEFAULTS, DEPENDENT, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT INSURANCE FUND, DEPOSIT INSURANCE SCHEME, DEPOSITOR, DEPOSITORS, DEPOSITS, DISCRETIONARY POWERS, DISPOSAL OF ASSETS, DISPUTE RESOLUTION, DISSENTING CREDITORS, DISTRESSED ASSET, DISTRESSED COMPANY, DOMESTIC BANK, DOMESTIC BANKS, ECONOMIC SITUATIONS, EMPLOYEE CLAIMS, EMPLOYEE WAGES, ENCUMBRANCES, ENTERPRISE RESTRUCTURING, EQUITY SECURITIES, EQUITY VALUE, ESTATE, EXCHANGE RATE, EXTERNAL DEBT, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL DIFFICULTIES, FINANCIAL INSTITUTIONS, FINANCIAL POLICY, FINANCIAL POSITION, FINANCIAL PROBLEMS, FINANCIAL RESOURCES, FINANCIAL SERVICES, FINANCIAL SITUATION, FINANCIAL STABILITY, FINANCIAL STATEMENTS, FINANCIAL SYSTEM, FORCED SALE, FOREIGN BANK, FOREIGN BANKS, FOREIGN EXCHANGE, GOOD FAITH, GOVERNMENT BONDS, GOVERNMENT GUARANTEES, GOVERNMENT SECURITIES, GUARANTEE FUND, IMMOVABLE PROPERTY, INDIVIDUAL BANKRUPTCY, INDIVIDUAL BANKS, INITIATION OF BANKRUPTCY, INITIATION OF BANKRUPTCY PROCEEDINGS, INSOLVENCY, INSOLVENCY CASES, INSOLVENT, INSOLVENT BANKS, INSOLVENT INSTITUTION, INSTITUTIONAL FRAMEWORK, INSTITUTIONAL FRAMEWORK FOR INSOLVENCY, INSUFFICIENT ASSETS, INSURANCE COMPANIES, INTEREST RATE, INTEREST RATES, JUDGE, JUDGES, JUDGMENTS, JUDICIAL PROCEDURE, JUDICIAL PROCEEDING, LAST RESORT, LAWS, LEGAL FRAMEWORK, LEGAL FRAMEWORK FOR BANKRUPTCY, LEGAL FRAMEWORK FOR CREDITOR RIGHTS, LENDER, LENDER OF LAST RESORT, LENDERS, LIABILITY, LIQUIDATION, LIQUIDATION PROCEDURE, LIQUIDITY, LIQUIDITY CRISIS, LIQUIDITY PROBLEMS, LIST OF CREDITORS, LOAN, LOAN ASSETS, LOAN CLASSIFICATION, LOAN LOSS, LOAN LOSS PROVISIONING, LOAN LOSSES, LOAN PORTFOLIO, LOAN PORTFOLIOS, LOCAL BANKS, LOSS OF VALUE, MACROECONOMIC CONDITIONS, MAJOR CREDITOR, MAJOR CREDITORS, MAJORITY OF CREDITORS, MANDATES, MARKET RISK, MODEL LAW, MODEL LAW ON CROSS-BORDER INSOLVENCY, MODERN REHABILITATION, MORTGAGE, MORTGAGES, NEW INSOLVENCY, NEW INSOLVENCY LAW, NUMBER OF BANKRUPTCY, NUMBER OF BANKS, OPERATIONAL RISK, OVERDUE LIABILITY, OVERDUE LOANS, PENALTIES, PENALTY, PETITION FOR BANKRUPTCY, PRINCIPAL CREDITORS, PRIORITY OF PAYMENT, PROBABILITY OF DEFAULT, PROFITABILITY, PROPERTY RIGHTS, PUBLIC DISCLOSURE, PURCHASE AND ASSUMPTION TRANSACTIONS, RECAPITALIZATION, RECEIVERSHIP, RECOVERY RATES, REGULATORY FRAMEWORK, REGULATORY REPORTS, REORGANIZATION, REORGANIZATION CASES, REORGANIZATION PLANS, REPAYMENT, REPAYMENT OF CREDITORS, REPOS, RESERVE REQUIREMENTS, RESTRUCTURING PLAN, RESTRUCTURING PROCESS, RESTRUCTURING PROCESSES, RESTRUCTURING PROGRAMS, RISK MANAGEMENT, SALE OF ASSETS, SALE PROCEEDS, SATISFACTION OF CLAIMS, SECURITIES AS COLLATERAL, SETTLEMENT, SOLVENCY, SOVEREIGN GUARANTEE, SYSTEMIC CRISIS, TRADITIONAL BANKRUPTCY, TRUSTEE, UNANIMOUS CONSENT, UNSECURED CREDITORS, VALUATION OF ASSETS, VOTE OF CREDITORS, WAGES, WORKOUTS,
Online Access:	http://documents.worldbank.org/curated/en/2009/12/16420914/lithuania-banking-system-assessment https://hdl.handle.net/10986/12822
Tags:	Add Tag No Tags, Be the first to tag this record!