OREANDA-NEWS. August 30, 2007. 1. Inclusion of the retained profit of AB bankas Snoras for the current year in the bank’s capital The Board of the Bank of Lithuania was presented information on the inclusion of the retained profit of AB bankas Snoras for the current year in the bank’s capital and did not object to it, reported the press-centre of Bank of Lithuania.

2. Approval of the sample commemorative coin from the series dedicated to mark the millennium anniversary of the mention of the name of Lithuania

The Board of the Bank of Lithuania approved the 100 litas sample commemorative coin from the series dedicated to mark the millennium anniversary of the mention of the name of Lithuania.

The graphic design of this coin was created by the artist Liudas Parulskis and the plaster model was made by Giedrius Paulauskis. The coin sample was minted by UAB Lietuvos monetu kalykla (Lithuanian Mint).

The gold coin is to be issued in the third quarter of 2007. The mintage of the coin is 5,000 pieces.
The other two gold coins dedicated to mark the millennium anniversary of the mention of the name of Lithuania will be issued in 2008 and 2009.

3. Formation of Vladas Jurgutis Award Commission

The Board of the Bank of Lithuania formed a new commission for the granting of Vladas Jurgutis Award.

Each year, the Commission accepts the documents submitted by natural persons and legal entities regarding the candidates to receive Vladas Jurgutis Award, discusses the works of the candidates and provides proposals to the Board of the Bank of Lithuania regarding the candidates to receive the award.

The purpose of the award is to encourage the scientific activities in banking, financial, monetary and macroeconomic areas and to evaluate the most significant works in the said areas during the recent five years.

4. Awarding of the Vladas Jurgutis scholarship

The Board of the Bank of Lithuania decided to award the Vladas Jurgutis scholarships to Martynas Repecka, a finance student from Vilnius University, and Simonas Krepsta, a postgraduate student in finance and banking from Vytautas Magnus University. The Bank of Lithuania awards the scholarship every year to two best full-time students of banking and finance in Lithuanian universities. The main preconditions to win the scholarship are excellent performance in studies and participation in scientific activities. The scholarship is awarded for one academic year and is equal to the minimum monthly wages. Candidates for the scholarship are nominated by university faculties within banking and finance departments. A decision on awarding the scholarship is taken by the Board of the Bank of Lithuania.

A number of students who had been awarded Vladas Jurgutis scholarship were invited to work in the Bank of Lithuania as well the European Central Bank.