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Today, the Council of Latvijas Banka adopted amendments to the "Procedure for Participation in the Eurosystem Monetary Policy Operations Organised by Latvijas Banka" of 12 December 2013.

The Procedure stipulates the implementation of the Eurosystem monetary policy operations in Latvia.

The amendments provide for adjustments with regard to establishing the adequate size of collateral in monetary policy operations, methodological changes in applying valuation haircuts on credit claims, additional restrictions on the use of covered bonds and other less significant changes.

Detailed information on monetary policy operations: https://www.bank.lv/darbibas-jomas/monetaras-politikas-istenosana/monetaras-politikas-instrumenti.

The amendments will take effect on 5 August 2019.

For reference

Latvijas Banka, acting in the public and economic interest, carries out several tasks significant for each and every inhabitant, financial markets and the public at large:

– participates in the formulation and implementation of the euro area's monetary policy;
– issues cash in Latvia and participates in ensuring the cash circulation process in the euro area;
– discharges the function of the central national currency authentication centre;
– maintains the interbank payment systems' infrastructure and promotes their smooth operation;
– manages the foreign reserves and other financial investments;
– acts as the financial agent of Latvia's government and provides financial services to other market participants;
– compiles and publishes financial, monetary statistics and balance of payments statistics;
– maintains and develops the Credit Register;
– acts as an advisor to the Parliament and Cabinet of Ministers of the Republic of Latvia on monetary policy issues and other issues related to Latvijas Banka's operation.

Latvijas Banka promotes analysis and research of macroeconomic and financial issues, thereby laying a secure foundation for professional activities in these areas. The role of the leading industry expert helps Latvijas Banka raise public awareness of the development of the economy and the monetary system, the current situation and the economic policy being pursued. Latvijas Banka takes an active part in educating the general public on various economic topics.