OREANDA-NEWS. January 19, 2009. The Credit Institutions Supervision Department presented Board of the Bank of Lithuania a report about inspections of credit unions carried out in Q4 2008. Full inspections of nine credit unions: credit unions of Kaunas, Taurage, Vilnius Region, and Utena, and Zanavyku bankelis, Prienu taupa, Kupiskenu taupa and Sveikatos kreditas credit unions, reported the press-centre of Bank of Lithuania.

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

Approval of the samples of 50 litas commemorative coin and 1 litas circulation commemorative coin dedicated to Vilnius ? European Capital of Culture 2009
The Board of the Bank of Lithuania approved the samples of 50 litas commemorative coin and 1 litas circulation commemorative coin dedicated to Vilnius ? European Capital of Culture 2009.
Graphic designs and plaster models were made by Vytautas Narutis. The samples were minted by UAB Lietuvos monetu kalykla (Lithuanian Mint).

The coins are to be issued into circulation in Q1 2009.

The third 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 results of the graphic design competition for the third 100 litas commemorative gold coin from the series dedicated to mark the millennium anniversary of the mention of the name of Lithuania.

The design of Bronius Leonavicius was granted the first place, with the designs of Vidmantas Valentas and Liudas Parulskis ranking second and third.

The Board approved the graphic designs of the obverse and the reverse of the coin by Bronius Leonavicius.

The inscription LIETUVOS VARDO TUKSTANTMETIS (two times) on the edge of the coin was also approved.

Production and issue of a numismatic set of circulation coins of the 2009 issue
The Board of the Bank of Lithuania resolved to order the production of a numismatic set of circulation coins of the 2009 issue: 10 centas, 20 centas, 50 centas, 1 litas, 2 litas and 5 litas; and of the 1991 issue: 1 centas, 2 centas and 5 centas (5,500 units of each denomination).

The numismatic set is to be issued into circulation in Q2 2009.