Lithuanian c bank lowers reserve requirements

LITHUANIA - Lithuania's central bank said on Thursday it lowered the reserve requirements for banks to six percent from eight percent in a move to bring the country's banking rules closer to European standards.

The bank said in a statement the two percentage point-reduction would free-up some 260 million litas ($66.27 million) currently held in reserve by banks.

"This decision has been made taking into account a stable economic and banking environment and seeks to gradually harmonise the reserv