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Valdas Sutkus, the president of the Lithuanian Business Confederation (LVK), and Mantas Zalatorius, the president of the Lithuanian Banks' Association (LBA), and another four people were detained by law-enforcement officials on Tuesday on suspicions of unlawful influence on legislative processes.
The Lithuanian Cabinet on Wednesday backed in principle new taxes on bank assets and retail turnover, but proposed that the parliament hold consultations on what impact these taxes would have.
European Merchant Bank, which holds a specialized bank license, says it is making active preparations for the launch of operations in Lithuania planned for this autumn.
A proposed tax on banking assets would make loans for households and businesses more expensive, the Lithuanian Banks' Association (LBA) warned on Tuesday.
Latvia continues to clean up its banking sector, the head of the Lithuanian Banks' Association (LBA) said on Friday after the neighboring country announced the closure of another commercial bank, PNB Banka.
Lithuanian commercial banks might have manipulated Vilnius interbank offered rates (Vilibor), which were used as the benchmark for lending in the litas, during the 2009-2010 economic crisis, Stasys Jakeliunas, chairman of the Seimas Committee on Budget and Finance (CBF), said on Tuesday.
The Lithuanian central bank has initiated a dialog between commercial banks and virtual currency traders on their attitudes toward cryptocurrencies.
