The Council of Latvijas Banka, the Latvian central bank (LB) has approved an initiative that will enable non-bank payment service providers – payment and e-money institutions – and in the future also crypto-asset service providers to open an account with Latvijas Banka for the segregation of their customer funds, LB said in a release December 15.
The Latvian banking sector made a profit of 564.406 million euros in nine months this year, which is 2.6 times more than in the same period of 2022, according to data released by the Latvian central bank (Bank of Latvia) on December 18, newswire LETA reports.
The Finance Latvia Association (FLA) categorically rejects the claims made by the former Finance Minister Jānis Reirs that banking activity in Latvia resembles a cartel, the association said in a statement on November 10.
The way in which the four largest commercial banks in Latvia have reacted to proposals by the Budget and Finance Committee of the Saeima for the support of mortgage borrowers resembles the operation of a cartel, said the head of the committee Jānis Reirs (New Unity) in an interview with Latvian Television's program "Rīta Panorāma" (Morning Panorama) November 9.
On November 7, the Latvian Cabinet of Ministers reviewed an informative report from the Ministry of Finance on the potential premises earmarked for the headquarters of the new European Anti-Money Laundering Authority (AMLA), and other factors in Latvia's attempt to host the agency.