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BOARD OF THE BANK OF LITHUANIAR E S O L U T I O N

ON THE APPROVAL OF THE DESCRIPTION OF THE PROCEDURE FOR THE PREPARATION OF FINANCIAL AND ACTIVITY REPORTS OF ELECTRONIC MONEY AND PAYMENT INSTITUTIONS FOR

SUPERVISORY PURPOSES AND FOR THE SUBMISSION OF THE REPORTS AND OTHER INFORMATION TO THE BANK OF LITHUANIA AND ON THE APPROVAL OF SUPERVISORY REPORT

FORMS

20 December 2018 No 03-259Vilnius

Acting in accordance with Article 42(4)(1) of the Republic of Lithuania Law on the Bank of Lithuania, Article 28(3) of the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions and Article 22(3) of the Republic of Lithuania Law on Payment Institutions, the Board of the Bank of Lithuania has r e s o l v e d :

1. To approve the Description of the Procedure for the Preparation of Financial and Activity Reports of Electronic Money and Payment Institutions for Supervisory Purposes and for the Submission of the Reports and Other Information to the Bank of Lithuania (attached).

2. To approve the attached forms of financial and activity reports of electronic money and payment institutions for supervisory purposes:

2.1. Form EM008_01 (balance sheet statement);2.2. Form EM008_02 (off-balance sheet statement);2.3. Form EM008_03 (profit (loss) statement);2.4. Form EM008_04 (statement of changes in equity);2.5. Form EM008_05 (report on performance indicators and safeguarding of received funds);2.6. Form EM008_06 (report on granted loans);2.7. Form EM008_07 (report on funds deposited in a separate account);2.8. Form EM008_08 (report on the number of employees); 2.9. Form EM008_09 (report on received complaints);2.10. Form EM008_10 (report on services);2.11. Form EM008_11 (report on closure or restriction of an account).3. To repeal Resolution No 03-46 of the Board of the Bank of Lithuania of 23 February 2012 on

financial statements of electronic money and payment institutions, as amended and supplemented.4. To establish that:4.1. This Resolution, except for subparagraph 2.11 thereof, subparagraph 7.11, paragraphs 13 and

14 of the Description of the Procedure for the Preparation of Financial and Activity Reports of Electronic Money and Payment Institutions for Supervisory Purposes and for the Submission of the Reports and Other Information to the Bank of Lithuania (hereinafter – the Description) approved by this Resolution shall enter into force on 1 January 2019 and shall apply in preparing and submitting to the Bank of Lithuania reports for the first quarter of 2019 and subsequent reporting periods.

4.2. Subparagraph 2.11 of this Resolution as well as subparagraph 7.11 and paragraph 14 of the Description shall enter into force on 1 April 2019.

4.3. Paragraph 13 of the Description shall enter into force on 1 January 2020.4.4. The report on services referred to in subparagraph 2.10 of this Resolution prepared according to

the data as at 31 December 2019 shall be submitted to the Bank of Lithuania by 31 January 2020.4.5. The balance sheet and the profit (loss) statements for the fourth quarter of 2018 shall be

submitted to the Bank of Lithuania according to the provisions applied before the entry into force of this Resolution.

CHAIRMAN OF THE BOARD VITAS VASILIAUSKAS______________

APPROVEDby Resolution No 03-259of the Board of the Bank of Lithuaniaof 20 December 2018

DESCRIPTION OF THE PROCEDURE FOR THE PREPARATION OF FINANCIAL AND ACTIVITY REPORTS OF ELECTRONIC MONEY AND PAYMENT INSTITUTIONS FOR SUPERVISORY PURPOSES

AND FOR THE SUBMISSION OF THE REPORTS AND OTHER INFORMATION TO THE BANK OF LITHUANIA

CHAPTER IGENERAL PROVISIONS

1. The Description of the Procedure for the Preparation of Financial and Activity Reports of Electronic Money and Payment Institutions for Supervisory Purposes and for the Submission of the Reports and Other Information to the Bank of Lithuania (hereinafter – the Description) sets forth the requirements for the completion of financial and activity reports of electronic money and payment institutions for supervisory purposes, the time limits and manner of submission to the Bank of Lithuania of the set of financial and activity reports, annual financial statements, the auditor’s report, the decision of the general meeting of shareholders on profit distribution and the audit report.

2. The Description shall apply to electronic money institutions registered in the Republic of Lithuania that hold an electronic money institution licence or an electronic money institution licence for restricted activity, branches of foreign electronic money institutions established in the Republic of Lithuania and payment institutions registered in the Republic of Lithuania that hold a payment institution licence, a payment institution licence for restricted activity or a licence of a payment institution only providing the account information service (hereinafter – the institution).

3. Institutions that only provide payment initiation and/or account information services and/or only engage in the collection of fees for utilities or other services provided on a regular basis for household needs, in the collection of fines and/or other charges to public authorities, and in the payment of social benefits shall not be required to complete and submit the reports referred to in subparagraphs 7.6–7.10 of the Description.

4. The head of administration of the institution shall be responsible for the submission of correct financial and activity reports for supervisory purposes and of other information to the Bank of Lithuania in accordance with the procedure set forth in the Description.

5. The terms used in the Description shall correspond to the terms used in the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions (hereinafter – LEMEMI), the Republic of Lithuania Law on Payment Institutions (hereinafter – LPI) and the Republic of Lithuania Law on Financial Reporting by Undertakings.

6. For the purposes of the balance sheet statement (Form EM008_01), secure, liquid low-risk assets means assets specified in the Requirements for Electronic Money and Payment Institutions regarding Internal Control, Risk Management and Safeguarding of Received Funds approved by Resolution No 247 of the Board of the Bank of Lithuania of 30 December 2009 on the requirements for electronic money and payment institutions regarding internal control, risk management and safeguarding of received funds.

CHAPTER IIPROCEDURE FOR SUBMITING FINANCIAL AND ACTIVITY REPORTS FOR SUPERVISORY

PURPOSES AND OTHER INFORMATION

7. Within the time limits specified in this Chapter, the institution must prepare and submit to the Bank of Lithuania the following financial and activity reports for supervisory purposes:

7.1. Balance sheet statement (Form EM008_01);7.2. Off-balance sheet statement (Form EM008_02); 7.3. Profit (loss) statement (Form EM008_03);7.4. Statement of changes in equity (Form EM008_04);7.5. Report on performance indicators and safeguarding of received funds (Form EM008_05);7.6. Report on granted loans (Form EM008_06);7.7. Report on funds deposited in a separate account (Form EM008_07);7.8. Report on the number of employees (Form EM008_08); 7.9. Report on received complaints (Form EM008_09);7.10. Report on services (Form EM008_10);7.11. Report on closure or restriction of an account (Form EM008_11).8. Data in the reports specified in subparagraphs 7.1–7.9 of the Description shall be indicated in

thousands of euro or in units.

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9. At the end of each quarter, within 20 calendar days, the institution must submit to the Bank of Lithuania the reports indicated in subparagraphs 7.1–7.5 of the Description prepared on the basis of data of the last day of the calendar quarter (31 March, 30 June, 30 September and 31 December).

10. At the end of the financial year, the institution must submit to the Bank of Lithuania:10.1. the set of annual financial statements approved by the general meeting of shareholders

(audited, where the audit of financial statements is mandatory), the auditor’s report and the decision of the general meeting of shareholders on profit (loss) distribution;

10.2. the updated reports referred to in subparagraphs 7.1–7.5 of the Description, where the data indicated in the reports have changed;

10.3. the reports referred to in subparagraphs 7.6–7.9 of the Description prepared on the basis of data as at 31 December.

11. Information indicated in paragraph 10 of the Description must be submitted by the institution to the Bank of Lithuania within 3 days after the day on which the institution’s general meeting of shareholders takes the decision on approval of the set of annual financial statements, where the institution is subject to the Republic of Lithuania Law on Financial Institutions, or no later than by 5 May, where the institution is not subject to the aforementioned Law.

12. The institution that is subject to mandatory audit of financial statements, in addition to audited financial statements must also submit to the Bank of Lithuania, within the time limit indicated in paragraph 11 of the Description, the report on audit which meets the requirements established in Article 22(4) of LPI or Article 28(4) of LEMEMI.

13. The institution must submit to the Bank of Lithuania the report on services referred to in subparagraph 7.10 of the Description within 30 (thirty) calendar days, where it:

13.1. starts issuing electronic money or providing payment services (type) or pursuing other activities;

13.2. starts providing a new service or engaging in a new activity which was not specified in the report on services previously submitted to the Bank of Lithuania.

14. Where the institution becomes aware of the closure of a separate account referred to in Article 17(1)(1) of LPI and in Article 25(1)(1) of LEMEMI, and/or of another payment account intended for carrying out payment transactions of electronic money and/or payment service users or of the decision to restrict the use of such accounts on the credit institution’s initiative, no later than within 5 calendar days the institution must submit to the Bank of Lithuania the report indicated in subparagraph 7.11 of the Description. This report shall also be submitted to the Bank of Lithuania within the time limit referred to in this paragraph in those cases where a multicurrency account is closed (limited) only with respect to a particular currency.

15. Financial and activity reports for supervisory purposes and other information specified in the Description shall be submitted by the institution to the Bank of Lithuania only by electronic means via the information system of the Bank of Lithuania.

CHAPTER IIIPROCEDURE FOR COMPLETING FINANCIAL AND ACTIVITY REPORTS FOR SUPERVISORY

PURPOSES

16. Line 1 of the report on performance indicators and safeguarding of received funds (Form EM008_05) shall be completed only by an electronic money institution.

17. Line 2 of the report on performance indicators and safeguarding of received funds (Form EM008_05) shall be completed only by an electronic money institution and/or a payment institution that provides payment services referred to in Article 5(1)–(6) of the Republic of Lithuania Law on Payments.

18. Line 3 of the report on performance indicators and safeguarding of received funds (Form EM008_05) shall be completed only by an electronic money institution and/or a payment institution that provides the payment service referred to in Article 5(7) of the Republic of Lithuania Law on Payments.

19. Line 4 of the report on performance indicators and safeguarding of received funds (Form EM008_05) shall be completed only by an electronic money institution and/or a payment institution that provides the payment service referred to in Article 5(8) of the Republic of Lithuania Law on Payments.

20. Line 5 ‘Amount of funds of electronic money holders and/or payment service users to be safeguarded’ of the report on performance indicators and safeguarding of received funds (Form EM008_05) shall be completed only by an electronic money institution and/or a payment institution that provides the payment services referred to in Article 5(1)–(6) of the Republic of Lithuania Law on Payments.

21. The amount of funds of electronic money holders and/or payment service users that need to be safeguarded at the end of the reporting period shall consist of:

21.1. funds received from electronic money holders and/or payment service users and held at the end of the previous business day;

21.2. receivable funds after issuance of electronic money for electronic money holders when funds will be received on the fifth business day or later.

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22. In the report on granted loans (Form EM008_06), the amount of granted loans on 31 December of the reporting year referred to in Article 4(4) of LPI or in Article 12(4) of LEMEMI shall be specified by completing the table per each country in which the loan was granted.

23. In the report on funds held in a separate account (Form EM008_07), funds of electronic money holders and payment service users held in a separate account opened with a credit institution of the Republic of Lithuania (including a foreign credit institution’s branch established in the Republic of Lithuania), with a credit institution of another Member State, with the Bank of Lithuania or a central bank of another Member State on 31 December of the reporting year shall be specified.

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Form EM008_01 approved by Resolution No 03-259 of the Board of the Bank of Lithuania of 20 December 2018

______________________________________________________(name of the electronic money or payment institution)

______________________________________________________(code, address, phone, email)

BALANCE SHEET STATEMENT

__________________(reporting date)

Items EUR Foreign currency Total

1 2 31. CASH AND CASH EQUIVALENTS (including cash in transit)1.1. Cash related to electronic money and/or payment services1.2. Cash related to other activities2. FUNDS WITH THE BANK OF LITHUANIA2.1. Of electronic money holders and/or payment service users2.2. Other funds of the electronic money (payment) institution3. FUNDS WITH CENTRAL BANKS OF OTHER MEMBER STATES

3.1. Of electronic money holders and/or payment service users3.2. Other funds of the electronic money (payment) institution4. FUNDS WITH CREDIT INSTITUTIONS4.1. Funds with credit institutions of the Republic of Lithuania, EU and

EEA Member States4.1.1. Of electronic money holders and/or payment service users4.1.1.1. Demand4.1.1.2. Time deposits4.1.2. Other funds of the electronic money (payment) institution4.2. Funds with credit institutions of foreign states4.2.1. Of electronic money holders and payment service users4.2.2. Other funds of the electronic money (payment) institution5. FUNDS WITH INSTITUTIONS OF ELECTRONIC MONEY

ISSUERS AND/OR PAYMENT SERVICE PROVIDERS5.1. Of electronic money holders and payment service users5.2. Other funds of the electronic money (payment) institution6. INVESTMENT IN DEBT SECURITIES6.1. Debt securities corresponding to the features of secure, liquid low-

risk assets6.1.1. Funds of electronic money holders and/or payment service users

invested in debt securities6.1.2. Own funds of the institution invested in debt securities6.2. Debt securities of subsidiaries or associates6.3. Debt securities of other economic entities7. LOANS GRANTED7.1. To electronic money and/or payment service users7.1.1. To legal persons7.1.2. To natural persons7.2. To subsidiaries or associates7.3. To other persons8. INVESTMENT IN EQUITY SECURITIES8.1. Securities of a collective investment undertaking that invests only

in secure, liquid low-risk assets8.1.1. Funds of electronic money holders and/or payment service users

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invested in securities of a collective investment undertaking8.1.2. Own funds of the institution invested in securities of a collective

investment undertaking8.2. Securities of subsidiaries and associates

8.3. Equity securities of other economic entities9. RECEIVABLES9.1. Receivables from agents of the electronic money (payment)

institution9.2. Receivables from other electronic money issuers and/or payment

service providers9.3. Other receivables10. TANGIBLE ASSETS11. INTANGIBLE ASSETS12. OTHER ASSETS

ASSETS, TOTAL1. PAYABLES AND OTHER LIABILITIES1.1. Liabilities to credit institutions1.1.1. Loans1.1.2. Other payables1.2. Payables to other electronic money issuers and payment service

providers1.3. Payables to agents of the electronic money (payment) institution1.4. Liabilities to consumers for electronic money and/or payment

services1.4.1. To legal persons1.4.2. To natural persons1.5. Other payables and liabilities2. PROVISIONS3. SUBORDINATED LOANS4. ISSUED DEBT SECURITIES5. GRANTS AND SUBSIDIES

Liabilities, total6. CAPITAL6.1. Authorised capital6.2. Capital reserve (share premium)6.3. Purchased own shares (nominal value) (–)6.4. Subscribed not paid up capital (–)7. RESERVES7.1. Revaluation reserve7.2. Reserve capital (buffer)7.3. Statutory reserve7.4. Other reserves8. RETAINED PROFIT (LOSS)8.1. Profit (loss) for the reporting year (+/–)8.2. Retained profit (loss) for the previous years (+/–)

Equity, totalEQUITY AND LIABILITIES, TOTAL

_____________________ __________________ ______________________(manager’s position) (signature) (name and surname)

___________________________ _________________ _________________________(responsible person’s position) (signature) (name and surname)

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OFF-BALANCE SHEET STATEMENT

__________________(reporting date)

Claims (assets) and liabilities Total1. CLAIMS (ASSETS)1.1. Received financial guarantees, sureties, other safeguards

regarding electronic money and/or payment services(please specify the amount of guarantee/suretyship)

1.2. Concluded insurance contracts regarding electronic money and/or payment services(please specify the sum insured)

1.3. Other claims2. LIABILITIES



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Form EM008_03approved by Resolution No 03-259 of the Board of the Bank of Lithuania of 20 December 2018

_____________________________________________(name of the electronic money or payment institution)

_________________________(code, address, phone, email)

PROFIT (LOSS) STATEMENT

__________________(reporting date)

Items Total1. ELECTRONIC MONEY ISSUANCE AND/OR PAYMENT SERVICE

PROVISION RELATED INCOME1.1. Interest income1.1.1. From funds with central banks and credit institutions1.1.2. From funds held in accounts of other electronic money issuers and/or

payment service providers1.1.3. From loans granted to electronic money holders and payment service

users1.1.4. From debt securities1.2. Income from services and commissions1.3. Other operating income2. INCOME FROM PROVISION OF OTHER FINANCIAL SERVICES3. TOTAL INCOME FROM PROVISION OF FINANCIAL SERVICES (1+2)4. OTHER INCOME

TOTAL INCOME (3+4)5. ELECTRONIC MONEY ISSUANCE AND/OR PAYMENT AND OTHER

FINANCIAL SERVICE PROVISION EXPENSES5.1. Interest expenses5.2. Expenses for commissions and services5.3. Other operating expenses6. GENERAL AND ADMINISTRATIVE EXPENSES7. OTHER EXPENSES

TOTAL EXPENSES (5+6+7)8. REALISED PROFIT (LOSS)9. UNREALISED PROFIT (LOSS)10. PROFIT (LOSS) BEFORE TAXES11. PROFIT TAX12. NET PROFIT (LOSS)



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STATEMENT OF CHANGES IN EQUITY__________________

(reporting date)

Items Total1. Equity balance at the end of the previous financial year2. Result of change in accounting policy

3. Result of corrections of essential errors

4. Recalculated equity balance at the end of the previous financial year5. Profit (loss) unrecognised in the profit (loss) statement

6. Net profit (loss) for the reporting period

7. Dividends (–)

8. Other payments (–)

9. Formed reserves

10. Used reserves (–)

11. Authorised capital increase (reduction)

12. Contributions for covering of losses

13. Equity balance at the end of the reporting period



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REPORT ON PERFORMANCE INDICATORS AND SAFEGUARDING OF RECEIVED FUNDS

__________________(reporting date)

Performance indicators Total1. Average outstanding electronic money (as defined in Article 2(12) of

LEMEMI)2. Total amount of payment transactions made over the last 12 (twelve)

calendar months (including payment transactions made through the institution’s agents)

3. Number of payment transactions initiated by the institution over the last 12 (twelve) calendar months

4. Number of payment accounts accessed by the institution over the last 12 (twelve) calendar months

Safeguarding of received funds5. Amount of funds of electronic money holders and/or payment service users to

be safeguarded



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REPORT ON GRANTED LOANS__________________

(reporting date)

State code according to ISO 3166-2

Loan maturity Number of loans Amount of granted loansUp to 3 monthsUp to 6 monthsUp to 9 monthsUp to 12 monthsUp to 24 monthsUp to 36 monthsLonger



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REPORT ON FUNDS DEPOSITED IN A SEPARATE ACCOUNT__________________

(reporting date)

Credit institution, central bank name

Separate account number

Code of the country where the account is opened

according to ISO 3166-2

Currency code according to

ISO 4217

Amount



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REPORT ON THE NUMBER OF EMPLOYEES__________________

(reporting date)

No. Number of employees in the institution Number

1. Average number of employees (calculated in accordance with the procedure established by the Labour Code of the Republic of Lithuania)

2. Of which: average number of employees who have their actual (physical) workplace in the Republic of Lithuania



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REPORT ON RECEIVED COMPLAINTS__________________

(reporting date)

Product or service type

Number of received

complaints

Number of satisfied

complaints

Number of received complaints by reason for their submission

Inappropriate information disclosure, advertising

Inappropriate

taxation

Human factor (mistakes,

unlawful acts of

employees)

Technical or

programming errors

Third-party

mistakesOther

1. Payment accounts2. Payment services2.1. Credit transfers (including direct debit)2.2. Services related to payment instruments (e.g. a card)

2.3. Cash transactions2.4. Other3. Electronic money issuance and redemption4. Other



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REPORT ON SERVICES__________________

(reporting date)

1. Description of licensed services (a separate table to be completed for each service type)

Issuance of electronic money1. Description of the electronic money issuance

service2. Declaration of whether or not the provision of

the service results in the entering into possession of the service user funds

yes no

3. Service is provided from(please specify day, month, year)

Payment services1. Payment service type2. Service type description3. Link to the particular payment service specified

in Article 5 of the Republic of Lithuania Law on Payments to which the described payment service is attributable(please specify the appropriate)

1. services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account2. services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account3. execution of payment transactions, including transfers of funds on a payment account with the payment service provider of the payment service user or with another payment service provider: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders4. execution of payment transactions where the funds are covered by a credit line for a payment service user: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders5. issuing of payment instruments and/or acquiring of payment transactions6. money remittance7. payment initiation services8. account information services

4. Explanation of how the activity has been identified as fitting into the category of the payment service referred to in paragraph 3

5. Declaration of whether the provided payment service is related to the issuance of electronic money?(to be completed only by holders of an

yes no

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electronic money institution licence)6. Description of the execution of the service,

indicating:(where only a payment initiation service or only an account information service is provided, a diagram of the flow of funds and settlement arrangements shall not be specified)all involved partiesprocessing timesa diagram of the flow of funds(please attach a Word or PDF document)settlement arrangements

7. Declaration of whether or not the provision of the service results in the entering into possession of the service user funds

yes no

8. Service is provided from:(please specify day, month, year)

2. Description of other activities referred to in Article 4(2) of the Republic of Lithuania Law on Payment Institutions or Article 12(1) of the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions

No. Activity Description of activity Period of engaging in the activity (starting date)

1. Provision of ancillary services closely related to payment services

exchange of currencyfunds safekeeping activitiesdata storage and processingother activities

2. Operation of payment systems in line with requirements set forth in Article 9 of the Republic of Lithuania Law on Payments

3. Engaging in activities other than the provision of payment services (with the exception of cases specified in Article 5(8) and Article 7(8) of the Republic of Lithuania Law on Payment Institutions) or other than electronic money issuance (with the exception of cases specified in Article 13(8) and Article 14(10) of the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions)

4. Cash-to-cash currency exchange



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REPORT ON CLOSURE OR RESTRICTION OF AN ACCOUNT

__________________(completion date)

Credit institution nameCountry code according to ISO 3166-2Account typeSeparate account (of client funds)Payment account for execution of payment transactions of electronic money and/or payment service users

Account numberclosedrestricted

Account currency currency code according to ISO 4217multicurrency

Account closure/restriction dateDescription of reasons for account closure/restrictionAccount closure/restriction will significantly affect performance/continuity of activities

yes Description of further actions no



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