History of Lithuania 1920, captured Vilnius the following day, and established a short-lived Republic of Central Lithuania in eastern Lithuania on October 12, 1920. The "Republic" was a part of Piłsudski's federalist scheme, which never materialized due to opposition from both Polish and Lithuanian nationalists. For 19 years, Kaunas was the temporary capital of Lithuania while the Vilnius region remained under Polish administration. The League of Nations attempted to mediate the dispute, and Paul Hymans proposed plans for a Polish–Lithuanian union, but negotiations broke down as neither side could agree to a compromise. Central Lithuania held a general election in 1922 that was
Bank of Lithuania Bank of Lithuania The Bank of Lithuania () is the central bank of the Republic of Lithuania. "The Bank of Lithuania" is a member of the European System of Central Banks. The chairman of the bank is Vitas Vasiliauskas. Until 2015, the Bank of Lithuania was responsible for issuing the former Lithuanian currency, the litas. According to the Bank's official website, the Bank of Lithuania performs these primary functions: The Bank is governed by a board consisting of a chairperson, two deputy chairpersons and two members. According to The Bank of Lithuania official website, it is managed by Supervision Service;