ECB rep to discuss banking supervision in Lithuania

VILNIUS - Daniele Nouy, chair of the European Central Bank's Supervisory Board, is starting a two-day visit to Lithuania and is scheduled to discuss banking supervision issues in Lithuania and the euro zone with Vytautas Valvonis, head of the Bank of Lithuania's Supervision Service, and other representatives of the service.

The guest is also set to meet with representatives of the banks directly supervised by the ECB and managers of the Association of Lithuanian Banks, the central bank said.

It will be Nouy's fourth visit to Lithuania. She, first, visited the Baltic country in early 2015 when Lithuania joined the banking union and the new European banking supervision system – the Single Supervisory Mechanism.

Lithuania's three largest banks – SEB, Swedbank and Luminor – are directly supervised by the ECB which relies on the Bank of Lithuania's staff, resources and experience while carrying out daily supervisory functions.