Bank of Lithuania clamps down on credit unions


The board of the Bank of Lithuania unveiled on August 20 tougher prudential requirements for credit unions that will see an end of rules related to the calculation of 'large exposure' ratios.

As of January 1, 2012, all credit unions will have to include funds in credit institutions such as banks and credit units into the calculation for ‘maximum exposure' amount, limiting the funds credit unions can risk from other sources.

In addition, the maximum exposure ratio will be extended to apply to all

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