Vytautas Lenkutis, a representative of Finance Ministry, told BNS that the financial operations were carried out on Monday. The ministry issued a targeted bond issue worth approximately 799 million litas, he said.
Earlier reports put the value of the loan and the issue at 788.5 million litas.
BNS has not yet received official confirmation that the planned deed on transfer and acceptance of assets and liabilities was signed between Ūkio Bankas and Šiaulių Bankas on weekend. However, money had to be transferred after the signing of the document.
The deposit insurance fund transferred the money to Šiaulių Bankas covering the gap between the transferred liabilities and assets of Ūkio Bankas, and Šiaulių Bankas used the funds to buy out the targeted issue of government securities.
Šiaulių Bankas, which is controlled by the European Bank for Reconstruction and Development (EBRD) and a group of local investors, on February 23 signed a trilateral agreement with Adomas Audickas, the temporary administrator of Ūkio Bankas, and the state company Indėlių ir Investicijų Draudimas (Deposit and Investment Insurance) to take over part of Ūkio Bankas' liabilities, assets, rights, and transactions.
Šiaulių Bankas is taking over 2.7 billion litas worth of insured deposits and around 1.9 billion litas worth of assets. Indėlių ir Investicijų Draudimas is contributing the remaining 800 million litas.
The central bank suspended the operations of Ūkio Bankas on February 12.
