Bank of Lithuania

The Bank of Lithuania traces its origin to September 27, 1922, when it held its first board meeting in Kaunas during the interwar Lithuanian republic and began operations five days later, issuing the litas from 1922 until the Soviet occupation nationalized it on August 1, 1940. Re-established as the independent republic's central bank on March 1, 1990 after Lithuania regained independence, it reintroduced the litas in 1993 and managed the currency until Lithuania adopted the euro on January 1, 2015. Headquartered in Vilnius, it now functions as a member of the Eurosystem, participating in setting eurozone monetary policy and serving as Lithuania's national banking supervisor and resolution authority.