Banking in Latvia Loans and Corporate financing

Latvia plans to be ready to introduce the euro in 2014 The euro is not medicine for all economic maladies, but it provides the economy with an opportunity of faster growth and cheaper payback of the debt accumulated during the crisis. Interest Rates Set by the Bank of Latvia Bank of Latvia refinancing rate 3.500 year 7-day deposit facility rate with the Bank of Latvia 0.375

Banking in Latvia: Fees

Banking in Latvia Term deposits Latvia Banka

Reserve requirements imply that credit institutions must hold a certain ratio of the attracted deposits and debt securities issued with the Bank of Latvia. In the event the reserve requirements are increased, credit institutions will have to hold more funds with the central bank. It means that the amount of funds attracted by credit institutions, which is at their disposal and could be freely placed in the economy, thus increasing the level of credit and broad money, will decrease. Reserve requirements as a monetary policy instrument ensure a higher stability in the monetary base demand and facilitate effectiveness of market operations, preventing excessive interbank interest rate daily fluctuations. Interest rates updated 2012: http://www.bank.lv/en/monetary-policy/monetary-policy-instruments/interest-rates

Banking in Latvia: Internet Banking facilities

E-banking solutions have many features and capabilities in common, but traditionally also have some that are application specific. The common features fall broadly into several categories Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer, apply for a loan, new account, etc.) Payments to third parties, including bill payments and telegraphic/wire transfers Funds transfers between a customer's own transactional account and savings accounts Investment purchase or sale Loan applications and transactions, such as repayments of enrollments Non-transactional (e.g., online statements, cheque links, cobrowsing, chat) Viewing recent transactions Downloading bank statements, for example in PDF format Viewing images of paid cheques Financial Institution Administration Management of multiple users having varying levels of authority Transaction approval process Features commonly unique to Internet banking include Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.

Banking in Latvia General Information

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