On Nov. 13, LTH CB detailed payment systems access from Apr. 2025.
LTH CB said from Apr. 2025, electronic money and payment institutions can access Eurosystem central bank payments/other EU operating systems, including TARGET.
Follows LTH CB May 2022, notified EU governance guideline compliance, see #138319.
Follows LTH CB Oct. 2022, approved T2 system participation rules, see #150853.
Follows LTH CB Mar. 2024, amended resolution re BIC holder contracts, see #206885.
Summary
Follows adoption by Seimas on Nov. 12, 2024, of amendments to Law on finality of settlements in payment and securities settlement systems and related rules.
Transpose EU settlement finality directive (SFD) amendments and Payment services directive 2 (PSD2) established by Instant payments regulation (IPR) in Lithuanian law.
Change allows firms to choose a payment system in any EU country for payments, enhancing their ability to compete with banks, and offer more client services; those licensed in LTH/EU countries can participate in LTH CB CENTROlink payments system.
Eurosystem approved access by non-bank payment service providers to central bank managed systems & non-bank provider credit accounts for client funds storage.
Policy on storing customer funds in central bank also apply to crypto asset service providers; Eurosystem central banks will not open accounts for asset reserves or customer funds of issuers of asset-linked tokens and electronic money tokens.
Effectiveness
Changes to the laws adopted by the Seimas will enter into force from Apr. 9, 2025.
Firms will be able to prepare as early as Mar. 2025, to apply for participation.
