Regulatory Alerts2018-05-24
Regulations for the Calculation of Initial Capital and Own Funds of Electronic Money Institutions and Payment Institutions
The Board of the Bank of Lithuania issued Resolution No 03-83 to approve regulations establishing the methods and procedures for calculating the initial capital and own funds requirements of electronic money and payment institutions. The document defines four calculation methods (A, B, C, and D) based on fixed overheads, monthly average payment volumes, income indicators, or outstanding electronic money, and mandates the use of specific reporting forms. It further stipulates that institutions must submit these reports quarterly to the Bank of Lithuania within 20 days after the end of each quarter, replacing previous resolutions from 2009.
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