As a result, already 1/3  BIS central bankers' speeches  3 specialized bank licences have been issued, with 4 applications under consideration. And, on top of that, we have initiated the creation of a legal framework for crowdfunding and peerto-peer lending. This helps avoid regulatory arbitrage and eliminates the obstacles to the much needed development of alternative financing sources.
The results of our efforts speak for themselves: in 2016, we had 6 licenced e-money and payment institutions operating in Lithuania; today, that number has surpassed 80. And yet, despite these early results, we are constantly looking for new ways to adapt. That is a large reason why we actively engage with the novel financial market players. Take, for instance, the Newcomer Programme.