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About the Bank of Latvia - Latvijas Banka https://www.bank.lv/en/component/content/article/562-about-the-bank-of... LV 1 di 4 11/05/2019, 13:06 About the Bank of Latvia - Latvijas Banka https://www.bank.lv/en/component/content/article/562-about-the-bank-of... UNOFFICIAL TRANSLATION Adopted on May 19, 1992. In effect as of May 19, 1992. With amendments passed by the Saeima of the Republic of Latvia on June 18, 1997 (in effect as of July 3, 1997) [1] With amendments passed by the Saeima of the Republic of Latvia on October 29, 1998 (in effect as of November 18, 1998) [2] With amendments passed by the Saeima of the Republic of Latvia on November 4, 1999 (in effect as of November 24, 1999) [3] With amendments passed by the Saeima of the Republic of Latvia on June 1, 2000 (in effect as of July 1, 2001) [4] With amendments passed by the Saeima of the Republic of Latvia on October 25, 2001 (in effect as of January 1, 2002) [5] With amendments passed by the Saeima of the Republic of Latvia on June 20, 2002 (in effect as of July 12, 2002) [6] With amendments passed by the Saeima of the Republic of Latvia on December 1, 2005 (in effect as of December 27, 2005) [7] With amendments passed by the Saeima of the Republic of Latvia on June 15 2006 (in effect as of July 11, 2006) [8] With amendments passed by the Saeima of the Republic of Latvia on October 8 2009 (in effect as of November 11, 2009) [9] With amendments passed by the Saeima of the Republic of Latvia on April 19 2012 (in effect as of May 22, 2012) [10] With amendments passed by the Saeima of the Republic of Latvia on January 10, 2 di 4 11/05/2019, 13:06 About the Bank of Latvia - Latvijas Banka https://www.bank.lv/en/component/content/article/562-about-the-bank-of... About us Services Banknotes and coins Publications Our country, our bank Exchange currency Euro banknotes Annual report Vision, Mission and denominations Euro coins Macroeconomic Values Exchanging damaged Latvian euro coins Developments Report Structure banknotes and coins Lats banknotes and Financial Stability Report Reports Currency authentication coins Latvia's Balance of Legal Exchanging the lats for 2 euro commemorative Payments News the euro coins Working Papers Calendar Collector coin purchases Collector coin Discussion Papers Contacts Statement from the Coins for sale Euro area bank lending Useful information Credit Register Damaged notes and survey coins Other publications Latvia's Macro Profile Operational areas Cooperation Archives of publications Monetary policy New market participants Statistics Research Participants of Credit Database Reserve management Register Data Cash circulation Investors Data publishing calendar Payment systems Media Information for data Financial stability users Credit Register Latest figures Statistics Public awareness International Cooperation Priority areas for 2019–2022 3 di 4 11/05/2019, 13:06 About the Bank of Latvia - Latvijas Banka https://www.bank.lv/en/component/content/article/562-about-the-bank-of... Cashier's Office Twitter Credit Register Facebook Knowledge Centre Draugiem Processing of personal data Flickr Slideshare Linked in Youtube 4 di 4 11/05/2019, 13:06.

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LATVIA in REVIEW July 26 – August 1, 2011 Issue 30
LATVIA IN REVIEW July 26 – August 1, 2011 Issue 30 CONTENTS Government Latvia's Civic Union and New Era Parties Vote to Participate in Foundation of Unity Party About 1,700 people Have Expressed Wish to Join Latvia's Newly-Founded ZRP Party President Bērziņš to Draft Legislation Defining Criteria for Selection of Ministers Parties Represented in Current Parliament Promise Clarity about Candidates This Week Procedure Established for President’s Convening of Saeima Meetings Economics Bank of Latvia Economist: Retail Posts a Rapid Rise in June Latvian Unemployment Down to 12.3% Fourteen Latvian Banks Report Growth of Deposits in First Half of 2011 European Commission Approves Cohesion Fund Development Project for Rīga Airport Private Investments Could Help in Developing Rīga and Jūrmala as Tourist Destinations Foreign Affairs Latvian State Secretary Participates in Informal Meeting of Ministers for European Affairs Cabinet Approves Latvia’s Initial Negotiating Position Over EU 2014-2020 Multiannual Budget President Bērziņš Presents Letters of Accreditation to New Latvian Ambassador to Spain Society Ministry of Culture Announces Idea Competition for New Creative Quarter in Rīga Unique Exhibit of Sand Sculptures Continues on AB Dambis in Rīga Rīga’s 810 Anniversary to Be Celebrated in August with Events Throughout the Latvian Capital Labadaba 2011 Festival, in the Līgatne District, Showcases the Best of Latvian Music Latvian National Opera Features Special Summer Calendar of Performances in August Articles of Interest Economist: “Same Old Saeima?” Financial Times: “Crucial Times for Investors in Latvia” L’Express: “La Lettonie lutte difficilement contre la corruption” Economist: “Two Just Men: Two Sober Men Try to Calm Latvia’s Febrile Politics” Dezeen magazine: “House in Mārupe by Open AD” Government Latvia's Civic Union, New Era Parties Vote to Participate in Foundation of Unity Party At a party congress on July 30, Latvia's Civic Union party voted to participate in the foundation of the Unity party, Civic Union reported in a statement on its website.
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Read More on Baltic International
INNOVATIONS TEAM aimed at innovations EXCELLENT OF EXPERTS and excellence SERVICE 25 REASONS WE ARE PROUD OF know-how truly individual high and experience quality service FAMILY BANK a bank owned SUPPORT by family TRUST TO STARTUPS and devoted we appreciate we believe in future to families trust of clients of start-ups and employees ESG JOY OF 25YEAR Environmental. WORKING EXPERIENCE GOOD Social. TOGETHER Let’s celebrate RESOURCE BASE Government. we love to work 25th anniversary strong resource base together! on May 3 and OUR WAY and sound development entire year 2018! OF SUCCESS, CHALLENGES RELIABILITY SUSTAINABILITY we are reliable, AND gold level open and honest in Sustainability index long-term business VICTORIES partner PATRONS SUPPORT OF CULTURE TO LITERATURE WINNERS SUCCESSION AND ART we believe in power #WinnersBorninLatvia we believe in importance care for succession of literature of families and succession of national values SMART EXPERTISE INVESTMENTS helps to find OFFICE we invest with our clients the best solutions IN THE HEART in a smart way OF OLD RIGA for our customers working in the rhythm of the heartbeats of Riga RESPECTFUL SHAREHOLDERS we trust our shareholders, RESPONSIBILITY STRONG TEAM GREEN SPORTIVE AND COMPETITIVE and they trust us responsible for wealth good team of energetic THINKING ENTHUSIASTIC PRODUCTS management of our clients and loyal experts care for nature we enjoy working wide spectrum and ourselves and sporting together and competitive features Business review 2017 CONTENTS 3 Valeri Belokon, Chairman of Supervisory Board 5 Viktor Bolbat, Deputy Chairman of Management Board 7 Bank financial results review 10 Overall review of Latvian economy 13 Developments on global financial markets 15 Baltic International Bank: support to the society, environment, and the world 19 Baltic International Bank — 25! VALERI BELOKON e Chairperson of the Supervisory Board of Baltic International Bank Whatever you do in life, do it with all your heart.
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EUROPEAN COMMISSION Brussels, 23.7.2013 COM(2013)
EUROPEAN COMMISSION Brussels, 23.7.2013 COM(2013) 540 final REPORT FROM THE COMMISSION Twelfth Report on the practical preparations for the future enlargement of the euro area EN EN REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS Twelfth Report on the practical preparations for the future enlargement of the euro area 1. INTRODUCTION Since the adoption of the euro by Estonia on 1 January 2011, the euro area consists of seventeen EU Member States. Among the remaining eleven Member States, nine Member States are expected to adopt the euro once the necessary conditions are fulfilled. Denmark and the United Kingdom have a special "opt-out"-status and are not committed to adopt the euro. This report assesses the state of play of the practical preparations for introducing the euro in Latvia and evaluates the progress made in preparing the changeover related communication campaign. Following the Council decision from 9 July 2013 concluding that the necessary conditions for euro adoption are fulfilled, Latvia will adopt the euro on 1 January 2014 ("€- day"). The conversion rate between the Latvian lats and the euro has been irrevocably fixed at 0.702804 Latvian lats to one euro. 2. STATE OF PLAY OF THE PREPARATIONS FOR THE CHANGEOVER IN LATVIA Latvia will be the sixth of the group of Member States which joined the EU in 2004 to adopt the euro. Latvia's original target date of 1 January 2008 foreseen in the Action Plan for Implementation of the Single European Currency of 1 November 2005 was subsequently reconsidered.
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Xcre-Establishment of the Lats
XC BANK OF LATVIA IN TIMES OF CHANGE (1990–2004) Dr. hist. Kristīne Ducmane XCRE-ESTABLISHMENT OF THE LATS 209 In a wider, not merely economic but also cultural, historic and future currency of Latvia. This unconventional approach to the political sense, money reflects the entire process of the evolution solution of the currency design caught the assessors' attention. of the civilisation. It is often evidence of political changes in a Soon the public authorities also joined the efforts to re-estab- country and is definitely part of the world's cultural heritage. The lish the lats, the national currency. On 31 July 1990 the Supreme link between the restoration of sovereign Latvia and the re-estab- Council of the Republic of Latvia (hereinafter, the Supreme lishment of the lats is particularly interesting in the history of Lat- Council) adopted a Resolution "On the programme for estab- vian money. The restoration of Latvia's independence was an op- lishing the monetary system of the Republic of Latvia"2 whereby portunity to restore the national currency. The re-establishment of the Council of the Bank of Latvia was assigned the task of estab- the lats and stabilisation of the national economy was the goal of lishing a commission that would be in charge of the monetary the second currency reform in sovereign Latvia. Work towards system reform. The commission's working programme had to achieving this goal began at the dawn of the national awakening. address issues related to the laws regulating money and lending At the meeting at the Artists' Union in June 1988 Mr.
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Privatization at the Crossroad of Latvia's Economic Reform
PRIVATIZATION AT THE CROSSROAD OF LATVIA'S ECONOMIC REFORM Sandra Berzups" I. INTRODUCTION .............................................................. 171 II. BACKGROUND ................................................................. 172 III. ECONOMIC REFORM ........................................................ 175 IV. PRIVATIZATION - THE BEGINNING ....................................... 177 V. RESTITUTION ................................................................. 179 VI. PRIVATIZATION CERTIFICATES ........................................... 180 VII. SECTORAL PRIVATIZATION - AGRICULTURE ........................... 182 VIII. SECTORAL PRIVATIZATION - BANKING .................................. 183 IX. SMALL SCALE PRIVATIZATION ........................................... 185 X. LARGE PRIVATIZATION ..................................................... 186 XI. ESTABLISHMENT OF THE PRIVATIZATION AGENCY ................... 188 XII. NEW PRIVATIZATION METHODOLOGY FOR THE PRIVATIZATION AGENCY - THE SPECIFICS ............................. 190 XIII. NEW PRIVATIZATION METHODOLOGY FOR PRIVATIZATION COMMITTEES - THE SPECIFICS ........................ 192 XIV. ANALYSIS OF NEW METHODOLOGY ..................................... 193 XV. CONCLUSION ................................................................. 195 I. INTRODUCTION Latvia regained its independence from the former Soviet Union in August 1991. Since then, it has begun the slow and arduous path of replacing the centrally-planned, socialist system with an economic structure based
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How Great Is Latvia's Success Story? the Economic, Social and Political Consequences of the Recent Financial Crisis in Latvia
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Austers, Aldis Article — Published Version How great is Latvia's success story? The economic, social and political consequences of the recent financial crisis in Latvia Intereconomics Suggested Citation: Austers, Aldis (2014) : How great is Latvia's success story? The economic, social and political consequences of the recent financial crisis in Latvia, Intereconomics, ISSN 1613-964X, Springer, Heidelberg, Vol. 49, Iss. 4, pp. 228-238, http://dx.doi.org/10.1007/s10272-014-0504-0 This Version is available at: http://hdl.handle.net/10419/146024 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Financial Crisis DOI: 10.1007/s10272-014-0504-0 Aldis Austers* How Great Is Latvia’s Success Story? The Economic, Social and Political Consequences of the Recent Financial Crisis in Latvia The current state of Latvia can be best described in medical terms: the patient is pale, but alive.
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Corporate Governance in Latvia
Organisation for Economic Co-operation and Development Organisation de Coopération et de Développement Économiques Hosted by The Government of Lithuania CORPORATE GOVERNANCE IN LATVIA by Mr. Alf Vanags Euro Faculty, University of Latvia, Queen Mary and Westfield College, University of London LATVIA and Mr. Aigars Štrupišs Institute of Latvia LATVIA Seminar on CORPORATE GOVERNANCE IN THE BALTICS Vilnius, Lithuania 21-22 October, 1999 Seminar on Corporate Governance in the Baltics 21-22 October, 1999 - Vilnius BACKGROUND PAPER on CORPORATE GOVERNANCE IN LATVIA TABLE OF CONTENTS TABLE OF CONTENTS..................................................................................................................................... 2 SUMMARY .......................................................................................................................................................... 3 PART I. INTRODUCTION................................................................................................................................. 4 PART II. THE CORPORATE GOVERNANCE ENVIRONMENT IN LATVIA ......................................... 4 THE GENERAL ECONOMIC CONTEXT .................................................................................................................. 4 CORPORATE GOVERNANCE CHARACTERISTICS IN LATVIA.................................................................................. 5 The Corporate Governance Agents ..............................................................................................................
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Market Practice Guide for Securities Settlement
MARKET PRACTICE GUIDE FOR SECURITIES SETTLEMENT 2012 TABLE OF CONTENTS 1. Introduction ............................................................................................................... 4 1.1. The purpose of the market practice guide ........................................................................... 4 2. Market practice for securities settlement in Estonia ............................................................ 5 2.1. Clearing and settlement organization ................................................................................ 5 2.2. Applicable laws, rules and regulations ............................................................................... 5 2.3. Operating hours and public holidays ................................................................................. 5 2.4. Clearing agents .......................................................................................................... 6 2.5. Clearing and settlement of NASDAQ OMX Tallinn trades ........................................................ 6 2.5.1 Settlement cycle .................................................................................................................... 6 2.5.2. Trading and settlement currency ................................................................................................ 6 2.5.3. Generation of TSE trade information for settlement .......................................................................... 6 2.5.4. Trade enrichments ................................................................................................................
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Latvian Financial Sector Update
Latvian Financial Sector Update No. 15 27 June 2019 Ināra Mūrniece Speaker of the Latvian Parliament (Saeima) Message from the Latvian Parliament (Saeima) speaker I am pleased to note that on 13 June legislators in the Saeima have completed an important phase of our financial reform programme, implementing reforms which conclude an essential cycle of the overhaul of Latvia’s financial regulatory architecture. Such reforms provide a legal framework through which to facilitate implementation of the “Moneyval” recommendations that will harmonize and strengthen our financial sector. Several Saeima Committees actively worked on the amendments to strengthen our financial sector, including: the Budget and Finance (Taxation) Committee; the Defence, Internal Affairs and Corruption Prevention Committee; and the Foreign Affairs Committee. On 13 June, the Parliament adopted amendments to the Law on the Prevention of Money Laundering and Terrorism Financing that will provide a more effective framework for the prevention of money laundering, terrorism financing and proliferation. In addition, significant amendments to the Law on the Financial and Capital Market Commission (FCMC) were adopted, extending the functions and objectives of the FCMC, as well as its responsibility and role. The Latvian Parliament also passed several amendments to laws on sanctions, the regulation of credit institutions, and financial checks, in line with Moneyval committee recommendations. Latvia’s Parliament and Government remain committed to work together and in conjunction
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Bank of Latvia: Annual Report 2010 Issn 1407–1800
BANK OF LATVIA: ANNUAL REPORT 2010 ISSN 1407–1800 BANK OF LATVIA: ANNUAL REPORT 2010 In Charts, the dots indicate the actual data, and the lines reflect the smoothing approximation of the data. The smoothing approximation of the daily data is more distinguished than the curve of the actual data. Details may not add because of rounding-off. – no transactions or no outstanding amounts in the period. x no data available or no computation of indicators possible. 2 0 the indicator is below 0.5 but over 0, or the result of the computation of the indicator is 0. 2 0 1 0 T REPOR L A N N U A : A VI T A B A N K O F L © Latvijas Banka, 2011 The source is to be indicated when reproduced. Photos by Aivars Liepiņš and Andris Tenass. The cut-off date is 26 April 2011. CONTENTS Foreword of the Governor 5 3 The Bank of Latvia Vision and Mission 9 Economic Environment 11 2 0 1 0 Global Economic Environment 12 T Latvia's Economic Environment 14 Inflation and Prices 14 REPOR Gross Domestic Product 16 Labour Market 18 L Foreign Trade, Balance of Payments and External Debt 19 Fiscal Developments 22 A N N U A : Banking Developments 23 A Money Supply 25 VI T Monetary Base 30 A Lending and Deposit Rates 31 Interbank Market 32 Foreign Exchange Market 33 Securities Market 35 B A N K O F L Bank of Latvia Operations and Activities 39 Legal Framework and Functions. The Bank of Latvia in the European System of Central Banks and Institutions of the European Union 40 Development, Adoption and Implementation of Monetary Policy 41 Provision of Currency in Circulation 45
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Advocate General Kokott Proposes That the Court Should Rule
Court of Justice of the European Union PRESS RELEASE No 207/18 Luxembourg, 19 December 2018 Advocate General’s Opinion in Cases C-202/18 Press and Information Ilmārs Rimšēvičs v Latvia and C-238/18 European Central Bank v Latvia Advocate General Kokott proposes that the Court should rule that, by suspending the Governor of the Bank of Latvia from office, the Republic of Latvia has failed to fulfil its obligations The Republic of Latvia has not provided proof of trading in influence alleged to have been committed by the Governor of its central bank Mr Ilmārs Rimšēvičs, Governor of the Latvijas Banka (Bank of Latvia), was suspended from office by a decision of the Korupcijas novēršanas un apkarošanas birojs (Office for the prevention and combating of corruption, Latvia) because he is suspected of having traded in influence for the benefit of a Latvian bank. The actions brought by Mr Rimšēvičs (C-202/18) and the European Central Bank (ECB) (C-238/18) against that decision are the first cases brought before the Court of Justice on the basis of the power conferred on it by Article 14.2 of the Statute of the European System of Central Banks and of the European Central Bank1 (‘the ESCB’ and ‘the ECB’, respectively) for a ruling on decisions relieving Governors of the central banks of the Member States from office. That power derives, inter alia, from the fact that Governors of the central banks of the Member States whose currency is the euro, even though appointed and relieved from office by the Member States, are also members of a body forming part of an EU institution, that is, the Governing Council of the ECB.
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Bank of Latvia: Annual Report 2007 Issn 1407–1800
BANK OF LATVIA: ANNUAL REPORT 2007 ISSN 1407–1800 BANK OF LATVIA: ANNUAL REPORT 2007 In Charts, the dots indicate the actual data, and the lines reflect the smoothing approximation of the data. The smoothing approximation of the daily data is more distinguished than the curve of the actual data. Details may not add because of rounding-off. – no transactions or no outstanding amounts in the period. 2 x no data available or no computation of indicators possible. 0 the indicator is below 0.5 but over 0, or the result of the computation of the indicator is 0. BANK OF LATVIA: ANNUAL REPORT 2007 REPORT ANNUAL BANK OF LATVIA: © Latvijas Banka, 2008 The source is to be indicated when reproduced. Works of art from the collection of the Bank of Latvia have been used in the design. Cover: Boriss Bçrziòð. The Wall (1999); inside pages: Kaspars Zariòð. Flying Flowers (2007); Laima Bikðe. A Meteorologist at Work (2007); Dace Lielâ. The Daugava (2001). Photos by Ilmârs Znotiòð and Indriíis Stûrmanis. The cut-off date is 22 April 2008. CONTENTS Foreword of the Governor 5 3 The Bank of Latvia's Vision and Mission 8 National Economy Developments and Monetary Policy 9 Global Economic Environment 10 Inflation and Prices 12 Gross Domestic Product 13 Labour Market 15 Foreign Trade and the Balance of Payments 16 Fiscal Policy 18 Banking Developments 19 Money Supply 20 Lending and Deposit Rates 25 Interbank Market 27 Monetary Base 28 The Foreign Exchange Market and Latvia's External Debt 29 Securities Market 31 Central Bank Operations and Activities 35 The Bank
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