Prime Minister Krišjānis Kariņš on June 13 swiftly commended the Latvian Saeima's passing of major reforms to financial sector supervision.
Latvia's government tried to talk up its ongoing efforts to clean up the country's banks June 10, releasing its latest update on the financial sector.
Latvia's financial regulator the Financial and Capital Market Commission (FKTK) said May 29 it had decided to cancel the license held by ABLV Capital Markets, IBAS, a subsidiary of ABLV bank, for investment services and ancillary investment services.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) announced May 20 that it was fining PNB Banka 4,260 euros.
Marshall Billingslea, the Assistant Secretary of the U.S. Treasury was in Rīga May 16 to talk about Latvia's ongoing efforts to clean up its banking sector in the wake of the collapse of ABLV bank last year and several other scandals related to sanctions-busting and other issues.
Latvia's financial regulator said May 14 he saw no problems with the method chosen to send ABLV bank into liquidation - a process described as "self-liquidation" or "voluntary liquidation".
Latvia's financial regulator said May 2 it had handed out fines to several banks guilty of not submitting audited financial reports on time.
Latvia's central bank, Latvijas Banka (LB) has published its annual report for 2018, and while it proved to be an exceptionally turbulent one as far as its leadership was concerned, the financial figures and its various competencies appear to have remained sound.
The former management of Meridian Trade Bank could have caused losses to the bank by handing out loans for personal projects, the De facto investigative news show reported April 28. A striking detail is that the employee who was tasked to prevent such cases at the bank is now working at Latvia's finance watchdog, the Financial and Capital Markets Commission (FKTK).
The Latvian central bank (LB) announced April 26 that its "coin of the year" is the so-called "Honey coin".
Latvian Minister of Finance Jānis Reirs on April 10 met with a key U.S. official who "praised the Government's efforts in straightening out the financial sector," according to a release frmo his Ministry.
Among banks who so far served non-resident customers in Latvia, there are banks who are considering leaving Latvia’s market and obtaining a banking license in another country, said Finance and Capital Market Commission (FKTK) chairman Pēters Putniņš in an interview with LETA.
The Latvian Central Bank on April 11 is issuing a coin called Cat's Mill and dedicated to the literary work of Kārlis Skalbe.
The chairman of Swedish banking giant Swedbank announced his resignation April 5 in the wake of an ongoing scandal involving allegations the bank was involved in large-scale money-laundering in the Baltic states.
The head of Latvia's financial regulator has launched a bitter attack on what it called "high public officials" whom it accuses of disseminating false information about its work.
The Council of Latvijas Banka, the Latvian central bank, said March 28 it had adopted several legal acts that would bring "new functionalities to instant payments in order to provide innovative financial services."
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) voiced objections March 27 to an ambitious government plan to reform it functions as part of a general clean-up of the financial sector.
2018 was a successful year for most Latvian banks, notwithstanding the fact that the country's third-largest bank, ABLV, went into liquidation and prompted a massive regulatory crackdown.
Finance Minister Jānis Reirs on March 26 gave an indication of one of the key components of a major reform of the financial sector, with the introduction of a new and more transparent method of selecting a head of the national financial watchdog, the Financial and Capital Market Commission (FKTK).
Bubble Fibula or Garden of Destiny? Honey or Curonian kings? Such are the thought processes in which you will find yourself engaged should you choose to take up an invitation from the Latvian central bank (Latvijas banka, LB) to select your favorite coin of 2018 in a public vote.
The Board of Latvijas Banka, the country's central bank, has approved its financial statements for 2018. The figures say the central bank turned a profit of 14.6 million euros.
With the decrease in non-resident deposits, Latvian banks will have to start offering niche products, as the number of banks in Latvia is too big for the local market, said Pēters Putniņš, head of the Financial and Capital Markets Commission (FKTK), appearing on LTV March 19.
The head of Latvia's financial regulator, the Financial and Capital Market Commission is the subject of an extremely critical new story by Re:Baltica, the Baltic Center for Investigative Journalism.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK), released a bullish statement March 13 in which it said an assessment of new business models for former non-resident banks had been completed and, in the words of FKTK chairman Peters Putniņš: "There is no longer any reason to talk about the unrestricted flow of foreign currency that our national authorities would not be able to control."
A Russian court on March 11sentenced former Latvijas Krajbanka and Lithuanian bank Snoras' co-owner Vladimir Antonov to two-and-a-half years in prison for defrauding Russian bank Sovetsky.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said March 11 it was handing over the job of regulating PNB Banka - formerly known as Norvik - to the European Central Bank.
On March 7 Swedbank services went out of order, as it was impossible to withdraw money from Swedbank ATMs, internet banking went down, and it was impossible to pay by card at points of sale.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said March 7 it had finally approved the methodology for screening the customers of ABLV Bank, which collapsed a year ago, as part of its ongoing liqodation process.
The Financial and Capital Market Commission (FKTK) on Monday received the methodology for screening the creditors of ABLV Bank for the bank’s self-liquidation, which has finally been approved by the Latvian Office for Prevention of Laundering of Proceeds Derived from Criminal Activity (Control Service), FKTK spokeswoman Ieva Upleja said March 4.