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Central bank puts lid on Litimpeks' activities

Aug 19, 1999
Paul Beckman

VILNIUS - On Aug. 12 the Bank of Lithuania made a decision to suspend Litimpeks Bankas' usual operations. Central bank officials said the move was inspired by the bank's inability to resolve its liquidity problems.After the central bank's board of directors made the decision, a lengthy list was released describing exactly which activities Litimpeks could no longer undertake. Accepting client deposits, granting and receiving loans, offering credit, and conducting transactions with stocks, bonds a ...

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