Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Lithuania bank tightens CUs prudential requirements
VILNIUS, Lithuania (8/23/12)--The central bank of Lithuania Monday unveiled tougher prudential requirements for the country's credit unions. The move is prompted by the end of rules related to the calculation of large exposure ratios.

The Bank of Lithuania board said that as of Jan. 1, 2012, all credit unions are required to include funds in credit institutions such as banks and credit unions in their calculations for maximum exposure.  The requirement limits the funds credit unions can risk from other sources, according to The Baltic Course (Aug. 20).

Also, the maximum exposure ratio will be extended and apply to all credit unions. Previously, those with adjusted capital fees of less than US$718,756 were exempt.

The central bank said the purpose of the new requirements is to encourage credit unions to invest funds cautiously and safeguard depositors' interests. It also is requiring greater experience from managers and has formulated an exam for those who do not meet the experience requirements.

Lithuania has 62 credit unions serving 124,383 members. They have combined assets totaling more than $537 million, according to the World Council of Credit Unions' statistics.


RSS





print
News Now LiveWire
Credit card issuers could see a reduced burden for 1 year under a @CFPB proposal issued this week. News Now: http://t.co/CYVXLUmVBq
12 hours ago
RT @CUEscan: Branches Will Be the Cornerstone of Growth http://t.co/fVqPPaGeVL http://t.co/xxMyKGQMrl
13 hours ago
RT @asmarterchoice: According to @Bankrate study, customers more likely to find FREE checking at #Creditunion than a bank! http://t.co/ntCb…
13 hours ago
Ditch monthly subscriptions to save $$, @YoungFreeMI Fielder tells @freep http://t.co/TFnsps4Dui #ASW2015
13 hours ago
.@federalreserve extends comment period for capital surcharges on systemically important U.S. bank holding cos. http://t.co/MOJJBn9DfA
14 hours ago