The Bank of Latvia recently issued new regulations for credit unions submitting "Calculation of the Reserve Base and Reserve Requirement" reports to ensure compliance with European Central Bank rules.
A credit union must submit its report for the maintenance periods ending April 8, May 13 and June 10, 2014, based on the data of the Monthly Financial Position report of December 31, 2013, by January 10, 2014.
The credit union must also report liabilities to another financial institution as liabilities to MFIs are subject to reserve requirements.
The report must be submitted to the Bank of Latvia in electronic form, and the terms used must reflect the same meaning as defined in the ECB regulations.
- UniCredit sells non-performing mortgage loans
- European Investment Bank lends millions to AccessBank to finance small businesses
- First Ukrainian International Bank among most transparent financial institutions in region, study says
- VTB Bank named best trade-finance bank in Russia by magazine
- AtaBank, Central Bank of Azerbaijan Republic host financial literacy event
- Richard de Keijzer named managing director for ABN AMRO Commercial Finance in the UK
- Galt & Taggart named Best Investment Bank in Georgia by Global Finance magazine
- Armeconombank customers can repay loans via Idram, EasyPay terminals
- Kapital Bank joins American Bankers Association
- CEO of ACBA-Credit Agricole Bank receives Tigran Mets medal