Lietuvos šiuolaikinės bankininkystės raidos pradžia (1988–1990 m.)

When examining the development of the country’s economy and finance after the reinstatement of independence, an important role is played by the modern banking system development problem. Taking into consideration the real development of political and economic life of Lithuania during the period and its legitimation by specific legal acts, two phases of beginning development of modern banking can be distinguished. The first phase is from the beginning of development of the concept of Lithuania’s economic self-sufficiency till the adoption of the Law on Banking (May 1988 – February 1990). The content of the said phase: reorganization of the Soviet banking in Lithuania during the “perestroika” times; money and banks in the concept of economic self-sufficiency of Lithuania; commencement of development of legal acts on the national banking reform. The second phase: from the reinstatement of independence till the development of Lithuanian banking system (March 1990 – December 1990). The content of the phase: adoption and implementation of first laws and legal acts, regulating the modern Lithuanian banking system; first activities of the Bank of Lithuania in the conditions of economic blockade and international political isolation; the two directions of development of the modern Lithuanian banking. When developing the modern Lithuanian banking system, the views of representatives of different economic schools, i. e. supporters of interwar Lithuanian banking and those in favour of the free market were different, which affected the development of both the Bank of Lithuania and the country’s banking. The taking over of the ways of life of the interwar Lithuania, especially the banking experience, which entrenched upon the reinstatement of independence, had a favourable influence on the repeated course of history