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“Regarding the results of the study, I am glad that the study has finally ended. The epic lasted for more than 2 years. We participated intensively, provided various materials, analysis and answered questions. Our work was very intense. I am glad that it is over. .
Did this benefit the central bank? I do not think so. Has this benefited consumers of financial services? I think not. Did you hit the public? Well, in historical terms maybe yes, practical benefits, I think not. In my opinion, all of that research was helpful to a person who is not in Lithuania today. But still, his workplace is in the European Parliament, “said V. Vasiliauskas.
A representative of the Bank of Lithuania calls this investigation a public relations campaign.
“The public relations campaign was strategically well placed because most of the material went unanswered, we just selectively selected what should be justified, and it was done. We have set out the arguments on several occasions as to why, in our opinion, the investigation was selective, the information and the arguments were sent by mail to the members of Seimas, ”he said.
“In my head, and the process itself, and what we saw in the presentation of the conclusions, your consideration, when the conclusions are presented not by the committee chairman, but by a person who is not a member of Seimas, shows that the owner opinion “, – added V. Vasiliauskas.
The results of the study indicate that the Bank of Lithuania deliberately allowed or not banks to transfer many risks to other market participants, mostly non-professionals, and without restricting the cheap, speculative and excessive financing of parent banks, tolerated unequal conditions competition for local banks.
In the recommendations, the BFK suggests that the Government consider establishing a supervisory authority for financial services and consumer rights independent of the central bank, and fully examine the possibility of reducing the permissible level of market concentration. banking.
For its part, the Bank of Lithuania stated that the information in the report was presented selectively and that the evaluations were misleading.
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