November 17, 2011 / 8:39 AM / 8 years ago

Lithuanian c.bank says bank system safe

VILNIUS, Nov 17 (Reuters) - Lithuania’s central bank said on Thursday that the country’s bank system was safe despite the takeover by the government of a large bank.

“I want to make clear, it is a problem of one bank, there is no systemic risk starting from yesterday,” central bank governor Vitas Vasiliauskas told parliament.

Parliament has to approve legal amendments to allowed the government to restructure Snoras Bank, the country’s fifth-largest by assets but third-largest by deposits, which the government took over on Wednesday.

Vasiliauskas said people’s deposits were safe and said some of the bank’s operations could be resumed soon. (Reporting by Nerijus Adomaitis)

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