The Bank of Latvia (Latvijas Banka) is the central bank of the Republic of Latvia. Bank is an independent institution that sets and executes monetary policy, manages the foreign currency and gold reserves, emits cash currency and ensures the functioning of the interbank settlement systems, and compiles financial statistics. The Bank of Latvia is a participant in the European System of Central Banks.
The objective of the operation of the Bank of Latvia as the central bank is price stability promoting Latvia's long-term economic growth. The Bank of Latvia is an active and responsible participant of the European System of Central Banks, promoting integration and stability of the financial systems of Latvia and other EU countries.
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No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters