Latvia
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
Latvia tightens AML framework
Rules on beneficial ownership, fake currency and cash forex transaction all amended
Latvia may replace regulator’s board several years early
Move comes as Latvian authorities try to respond to allegations of money-laundering
ECB to supervise bank that accused Latvian governor of corruption
Latvian authorities requested ECB action as lender sues them for alleged malpractice
ECJ rules that Latvian governor was unlawfully removed
Latvian authorities failed to produce convincing evidence of wrong-doing by Ilmārs Rimšēvičs – ECJ
Estonian and Danish authorities trade accusations as further AML scandal breaks
Swedish, Estonian and Lithuanian authorities announce joint investigation into Swedish bank
Nordic-Baltic crisis simulation seeks to reinforce collective response
Nordic-Baltic Stability Group carried out first region-wide crisis scenario in January
EU legal officer says Latvian government wrongly barred governor
Authorities provided no evidence to back claims governor acted corruptly, advocate general says
Three tricks to remove a troublesome Eurosystem governor
Eurozone authorities have learnt how to circumvent central bank independence – emboldened by feeble action by the European Commission
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Latvian prosecutor charges central bank governor with corruption
Bank making accusations was closed by regulators in 2016
ECB commits to tapering bond purchase programme
Unanimous decision says bond purchases will taper if data confirms medium-term outlook
ECB asks European Court of Justice to rule on barring of Latvian governor
ECB says Latvia’s authorities have effectively removed Rimšēvičs from office
Latvian governor barred from entering central bank
Deputy governor effectively in charge as governor banned during bribery investigation
Latvian governor unable to attend ECB meeting due to corruption inquiry
Parliament will debate governor’s continuation in role this week
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
ECB lacks power to investigate money laundering, Nouy says
Frankfurt ordered the shutdown of Latvia’s ABLV Bank after US Treasury accused it of illicit practices
Latvian governor attacks bribery ‘lies’
Prime Minister says governor may be target of smear, but banker widens accusations
ECB orders Latvia to shutter bank over laundering allegations
US Treasury alleges the bank laundered billions of dollars and had links to North Korea
Latvian police detain central bank governor on corruption charges
Rimšēvičs says charges are totally unfounded
Latvian central bank unveils instant payments system
System is the first to be compatible with the Single Euro Payments Area project, says the bank
Latvian central bank becomes lead authority on counterfeiting
New anti-counterfeiting centre will take over from police the task of detecting fake currency in all currencies; new approach will be more efficient and will not need more resources, bank says
Dombrovskis replaces Hill in leading work on Capital Markets Union
Britain’s European finance commissioner resigns following referendum to be replaced by former Latvian PM; political timetable likely to delay further integration moves, analyst says
ECB to conduct comprehensive assessment of four more banks
European Central Bank is assessing four banks it may come to directly supervise; supervision fees charged to European banks set to rise over 45% in 2016