On Friday, November 27, the Financial Sector Development Board agreed to support the plan of measures for promotion of single and consistent approach in cooperation, supervision and communication with the customers between public authorities and financial institutions. This will ensure the facilitation of the risk-proportionate approach, minimize the administrative burden in the entire chain of supervision and cooperation between banks and customers.

On Thursday, September 24, the Minister for Finance Jānis Reirs, Head of the Financial Intelligence Unit Ilze Znotiņa and the U.S. Ambassador to Latvia John L. Carwile signed the Terms of Reference between the Republic of Latvia and the US Department of Treasury, prescribing the provision of technical assistance of the US Department of Treasury in the field of anti-money laundering and countering terrorism and proliferation.

The Ministry of Finance (MoF) has submitted for the review to the meeting of the Cabinet of Ministers the assessment report prepared in cooperation with the Bank of Latvia and the Financial and Capital Market Commission (FCMC) on merging the FCMC with the Bank of Latvia. Risk-benefit analysis confirms that merging the FCMC with the Bank of Latvia is a meaningful step, because a public benefit is gained as a result thereof. At the same time, the identified risks are manageable, by implementing corresponding risk hedging measures, inter alia, appropriate allocation of rights and responsibilities.

On Wednesday, 14th October, for the first time Eurobonds with maturity on 7 October 2026 previously issued under the GMTN programme of the Republic of Latvia, acting through the Treasury, were reopened and offered in auction in domestic market only.