Banks
U.S. experts training Latvian officials on countering financial crime
U.S. experts training Latvian officials on countering financial crime
From 24 April to 28 April, the Latvian central bank, Latvijas Banka (LB), is hosting a training session during which U.S. experts "will educate the representatives of Latvia's financial supervisory and law enforcement authorities on a risk-based supervision of the Latvian capital market," according to a release from LB.
Latvian central bank plans to battle loose change
Latvian central bank plans to battle loose change
Every year, Latvian residents lose several million coins of one and two cents. They are dropped on the streets and lying around in drawers and pockets, and sucked up in vacuum cleaners. For this reason, the Latvian central bank (Bank of Latvia) intends to reduce the circulation of these nominals, Latvian Radio reported April 5.
Cash makes a comeback in Latvia
Cash makes a comeback in Latvia
The most recent (Spring 2023) "Payment Radar" report from the Latvian central bank (Latvijas Banka, LB) suggests that the ratio between non-cash and cash payments in Latvia was 67% to 33% in February 2023.
Most ABLV bank's compensations paid out
Most ABLV bank's compensations paid out
Most of the clients of the liquidated ABLV Bank have received the guaranteed remuneration, but several thousand have not applied for it, Latvian Television reported on January 26. The bank's liquidation process began about five years ago. Five years is the deadline within which customers of any bank in liquidation can apply for guaranteed reimbursements of up to €100 thousand.
One month left for ABLV clients to claim compensation
One month left for ABLV clients to claim compensation
The Latvian Central Bank (Latvijas Banka, LB) issued a reminder January 23 to former customers of ABLV Bank, AS, that they can apply for guaranteed compensation for just one more month, following the bank's liquidation.
Less than half of Baltic International Bank clients were Latvian residents
Less than half of Baltic International Bank clients were Latvian residents
Baltic International Bank, whose operations have been suspended in accordance with a decision of the Financial and Capital Market Commission (FKTK), has about 1,580 clients with deposits with the bank, of which about 700 are Latvian residents, the commission's chairwoman Santa Purgaile said at a press conference on Tuesday.
Latvian financial sector still seen as "risky" by some
Latvian financial sector still seen as "risky" by some
The Latvian banking sector, which is trying to regain international trust after extensive reforms to the financial system, must now expect extra attention due to Russian sanctions and related issues, LTV investigative show De Facto reported November 6.
CEB says it is ready to support Latvian infrastructure development
CEB says it is ready to support Latvian infrastructure development
The Council of Europe Development Bank (CEB), which currently participates in financing the construction of the University of Latvia’s (LU) eye-catching House of Letters, said November 3 it is ready to continue supporting infrastructure projects in the Baltic countries, particularly wth regard to ensuring sustainable development and climate neutrality.
Financial institutions update ATM access agreement
Financial institutions update ATM access agreement
The Latvian central bank (Latvijas Banka), industry body the Finance Latvia Association and the banks with the widest network of ATMs and branches in the country – Swedbank, SEB, Luminor and Citadele – have agreed to continue implementing measures ensuring access to cash for residents of Latvia in 2023, the central bank said in a release October 31.
Coin marks centenary of Latvian central bank
Coin marks centenary of Latvian central bank
The Latvian central bank, Latvijas Banka (LB) revealed October 28 that it will release a special coin to mark its own centenary. 1 November 2022 marks the 100th anniversary of the establishment of Latvijas Banka.
Latvian central bank conference upcoming
Latvian central bank conference upcoming
The Latvian central bank, Latvijas Banka (LB) is gearing up for its annual conference on November 3, which will feature the participation of European financial sector leaders to mark its centenary.
Banks ready to erase pre-2008 crisis debts; debtors hiding abroad
Banks ready to erase pre-2008 crisis debts; debtors hiding abroad
About half a billion euros have been borrowed in the so-called 'fat years' before the 2008 economic crisis, and still owed to banks by those hit by the crisis. Banks are now allowed to unilaterally delete these debts, but a large proportion of debtors have chosen to escape from this trouble by moving abroad, Latvian Radio reported on October 18.
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