Lithuania’s commercial banks have already sub-frontloaded nearly one-fifth of euro coins and banknotes to domestic companies, the governor of the central Bank of Lithuania has said.
© DELFI / Šarūnas Mažeika

According to Vitas Vasiliauskas, commercial banks have sub-frontloaded 18 percent of coins and more than 15 percent of banknotes to companies. Meanwhile, the central bank has frontloaded around 99 percent of coins and 90 percent of banknotes to commercial banks.

“According to the latest data related to units, approximately 186 million coins and some 32 million banknotes have been frontloaded … to commercial banks. As far as sub-frontloading is concerned, the numbers are approximately 33 million coins and 4.5 million banknotes,” he said at a news conference on Monday.

The amount of litas cash had decreased considerably, Vasiliauskas said.

“The decrease is approximately 40 percent, from around 11 billion litas (EUR 3.188bn) early this year to some 7 billion litas now,” he said.

Lithuania will adopt the euro on Thursday, 1 January.

Naujienų agentūros BNS informaciją skelbti, cituoti ar kitaip atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB "BNS" sutikimo neleidžiama.

Vasiliauskas calls on MPs to turn to ECB over banking tax

Vitas Vasiliauskas , board chairman of the central Bank of Lithuania , has called on lawmakers to...

Fake or true: your coffee might contain grounded cockroaches (1)

In past months some global media shocked their readers by claiming that grounded coffee might...

Nauseda: state bank shouldn’t be taboo

The existing situation in the Lithuanian banking market makes one to start thinking about the...

Lithuania not considering 'century bond' yet

The Lithuanian Foreign Ministry sees no need for issuing ultra-long debt yet, but might consider...

Cabinet backs retail and bank taxes

The Lithuanian Cabinet on Wednesday backed in principle new taxes on bank assets and retail...