FRSGlobal : Risk Analysis and Regulatory Reporting

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Regulators in Lithuania

The supervisory and regulatory framework in Lithuania consists of:

Bank of Lithuania

FRSGlobal in Lithuania

There are many factors influencing the growth of the Lithuanian economy after the 2008 crisis. The manufacturing sector saw a growth in demand on account of growth in domestic demand such as construction, trade, financial intermediation, etc. Unemployment rate has gone down in the country significantly and the number of new vacancies is growing since 2011. A significant amount of growth is seen in both the goods produced and the services provided by domestic economic entities and in the overall exports from Lithuania. The economic development prospects of key Lithuanian foreign trade partners remain favourable; therefore, exports are expected to increase further.

Firms are faced with investing time, effort and resource to:

Keep abreast of the latest regulatory demands
Understand regulatory requirements
Re-configure IT solutions to address changing business issues
Meet risk and regulatory demands to stay compliant
Have audit capability to meet internal and external investigation
Have consistent information for both internal and external consumption

With FRSGlobal’s content rich solutions you don’t have to worry about these things.

As leaders in the field of risk and regulatory solutions FRSGlobal understands your business needs, our heritage in and in-depth knowledge of the financial market enables the development of our solutions to be so flexible that they meets the needs of ALL firms whatever the size or complexity.

FRSGlobal leads the way in risk and regulatory compliance solutions. Our combined platform for risk management and regulatory reporting covers all instruments required for conventional banking.

Contact FRSGlobal

Kleine Kloosterstraat 23
1932 Sint-Stevens-Woluwe
Belgium

T: +32 2 416 24 00
E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Regulatory Environment — Lithuania

Financial	Prudential	Transactional
Balance sheet reporting	Capital adequacy reporting	Derivative Statements
	Liquidity reporting	Foreign currency transaction reporting
		Leasing

Financial

Guidelines for financial reporting are implemented on the consolidated Financial Reporting framework (FINREP) developed by the European Banking Authority (EBA).

Balance sheet reporting
Balance sheet reporting provides information on financial statement positions and is required by the Bank of Lithuania on a monthly and quarterly basis. Under this type of reporting all banks in Lithuania are required to submit reports on position of assets and liabilities, income statement, etc.

Prudential

Capital adequacy reporting
Bank of Lithuania follows Basel II standards. The guidelines for capital adequacy reporting are based on the Common Reporting framework (COREP). They provide the minimum amount, the elements and structure of credit institution’s own funds, minimum capital requirement as well as disclosure requirements.

Liquidity reporting
Banks need to report liquid assets, maturity structure of assets, liabilities off-balance sheet items, and liquidity ratio to the Bank of Lithuania.

Transactional

Derivative statements
Banks in Lithuania need to report derivatives held for trading, hedge accounting, gains (losses) from hedge accounting and analysis of equity to the Bank of Lithuania on periodic basis.

Foreign currency transaction reporting
Banks need to report the net general position /equity standard ratio to ensure that there is a balance established between foreign exchange assets and liabilities and to check if the foreign exchange position banks hold are in harmony with their own funds.

Leasing
Leasing operations carried out by banks in Lithuania need to be reported to the Bank of Lithuania on a quarterly basis.

So how can we help you?

FRSGlobal provides regulatory reporting solutions throughout the world for banks, insurance companies, and other financial institutions. By leveraging a global data model (DataFoundation), a standardised integral development environment (ReportBuilder), fully integrated calculation capabilities of RiskPro and a global runtime engine for reporting (ReportGenerator), FRSGlobal can provide local reporting efficiently consistently for any jurisdiction.

The main benefits of the FRSGlobal regulatory reporting solution include:

Regulatory Update Service (RUS): FRSGlobal is actively monitoring regulatory changes and provides updates within the product subscription
Full audit trail and ability to drill down to underlying data, variance analysis etc. as part of the run-time engine
Fully integrated solution for risk management and regulatory reporting - increasingly important as new global directives gravitate towards the need for these previously silo’d disciplines to converge. This means:
- Single source of data and data management to ensure consistency
- Any risk calculation results relevant for regulatory reporting are automatically taken into account into the reporting
Regulatory reporting includes report level validation rules and electronic delivery where applicable
Local domain expertise while at the same time global consistency

Contact FRSGlobal

Kleine Kloosterstraat 23
1932 Sint-Stevens-Woluwe
Belgium

T: +32 2 416 24 00
E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it