The Latvan Central bank (Latvijas Banka, LB) is inviting members of the public to invest in a new coin designed to appeal to both numismatists and mycologists. In other words, coin collectors and fungus fans.
The nominee candidate to become the head of Latvia's financial regulator received approval from the Latvian cabinet October 8 - albeit after a week's delay - though the final decision on whether she is confirmed in the job will rest with the Saeima, reported LTV.
Plans to install a new financial regulator to oversee important reforms of the banking sector have been put on hold in an unexpected development October 1.
The US private equity giant Blackstone Group has finalized its €1 billion acquisition of a 60 percent stake in the Baltic bank Luminor.
The council of Latvijas Banka, the country's central bank, said September 26 it had approved amendments to its "Instant Links" service, a measure it said would promote "wider use of the Registry in innovative payment services."
After PNB banka folded in mid-August, its administrator has asked former clients to submit pay-out requests within three months. Rīga's municipal housing manager, Rīgas namu pārvaldnieks (RNP), is among these clients and there are questions whether €6m worth of homeowners' money deposited with the company will be returned, reported LTV's De facto September 22.
The open competition to find a new chief for Latvia's financial regulator - a crucial position giving the ongoing campaign to restore the credibility of the scandal-wracked sector - has concluded, with the winning candidate named.
Latvia's finance watchdog, the Financial and Capital Markets Commission (FKTK) on September 13 decided to fine PrivatBank €1,019,319 for anti-money laundering violations, the FKTK told the press September 18.
In one month's time on 2 October 2019, Latvia's central bank, Latvijas Banka (LB), will hold its annual economic conference and according to the agenda released September 3, the topic will be labor.
On August 30, Latvia submitted its update report to MONEYVAL – the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering and the Financing of Terrorism, saying that a major overhaul of the legal framework, banking regulator and law enforcement is "yielding tangible results".
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said August 28 it had sent information to banks about what constitutes "best practice" in knowing who their clients are.
Almost 50 million euros was paid back to depositors in suspended bank PNB during a little over 24 hours of reimbursement payments, Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said August 23.
Latvia's banking regulator, the Financial and Capital Market Commission (FKTK) announced August 22 it had applied to declare the country's sixth largest bank, PNB banka, insolvent.
In a further development of the situation at PNB bank, which has had its operations suspended by the European Central Bank, which deemed it likely to fail, the owners who only recently took over the bank released a statement August 18 saying they think it can be saved.
Citadele bank will handle the process of paying depositors in PNB bank the money they are owed, Latvia's financial regulator and other officials said August 17.
Following the suspension of PNB Bank's ability to offer services as a result of action by the European Central Bank (ECB) and the Financial and Capital Markets Commission (FKTK), almost 300 million euros will be paid out to depositors, FKTK's acting chairwoman said August 16.
Latvia's PNB banka - formerly known as Norvik - is to be shut down, the European Central Bank announced August 15.
A contest to find a new and confidence-inspiring head of Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) has attracted 25 applicants in the initial stage, the government press office revealed August 13, one day after submissions for the job closed.
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) on August 12 said it had deleted the register entries of two firms dealing with electronic money transfers.
The Chairman of the Board of PNB Banka, Briton Oliver Bramwell, has left the post he had held since 2013, the bank has announced.
The search for a new head of Latvia's financial regulator is underway with the government on July 12 announcing a competition for the post.
At its meeting on 8 July, the Latvian Saeima decided to release the Chairman and Deputy Chairwoman of Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) ,from their positions and to appoint a temporary replacement to lead the organization.
On Thursday, 11 July, Latvijas Banka is issuing a silver collector coin of a specific shape dedicated to the creative heritage of Niklāvs Strunke (1894–1966), Latvian painter, graphic artist and stage designer.
Financial and Capital Market Commission (FKTK) Chairman Peters Putniņš and his deputy Gunta Razāne both handed in their submitted their resignations on July 4, Finance Minister Jānis Reirs (New Unity) confirmed, according to the LETA newswire.
On Tuesday, July 2, the Cabinet of Ministers approved the draft law “Amendments to the Law on Credit Institutions” drafted by the Interior Ministry, which will provide an opportunity to introduce a new procedure for faster and more efficient information exchange between law enforcement institutions and credit institutions.
Banker Grigory Guselnikov announced on Twitter June 27 that he had sold his majority stake in Latvia's PNB bank. The tweets in English and Russian came a day before the bank published the news on its website.
ABLV bank, which is currently undergoing a process of "voluntary liquidation" in Latvia, announced June 26 that its small Luxembourg subsidiary was going into what it described as a judicial liquidation process.
Meridian Trade Bank (MTB) has been warned by Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) over its risk exposure, the regulator said in a statement June 20.
Sanda Liepiņa the Chief Executive Officer and Chairwoman of the Management Board of the Finance Latvia Association (FLA), will leave her post on June 28 to start working at the World Bank Group in Washington DC, USA, FLA said in a statement June 18.
Prime Minister Krišjānis Kariņš on June 13 swiftly commended the Latvian Saeima's passing of major reforms to financial sector supervision.