The Bank of Lithuania (Lithuanian: Lietuvos Bankas) is the central bank of the Republic of Lithuania. The Bank of Lithuania is a non-Eurozone member of the European System of Central Banks. The chairman of the bank is Vitas Vasiliauskas.
According to the Bank's official website, the Bank of Lithuania performs these primary functions:
- maintaining price stability.
- issuing Lithuania's currency, the Lithuanian litas.
- formulating and implementing the monetary policy.
- determining and announcing the exchange rate of the Lithuanian litas.
- acting as an agent of the State Treasury.
Management and structure
The Bank is governed by a board consisting of a chairperson, two deputy chairpersons and two members.
According to The Bank of Lithuania official website, it is managed by Supervision Service; ten departments: Economics, Statistics, Market Operations, International Relations, Payment Systems, Cash, Accounting, Information Technology, General Services and Security; six autonomous divisions (Internal Audit, Legal, Organisation and Personnel, General and Public Relations, Risk Management), and Bank of Lithuania Branches in Kaunas and Klaipėda.
Coordinates: 54°41′10″N 25°17′00″E / 54.68611°N 25.28333°E