Amendments to Latvijas Banka Regulation No. 259 on Credit Institution Licensing, Issuance of Specific Permits, and Information Provision (No. 425)

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Latvijas Banka Regulation No. 425
Riga, September 28, 2026

Amendments to Latvijas Banka Regulation No. 259 of November 27, 2023 "Regulations on Credit Institution Licensing, Issuance of Specific Permits, and Information Provision"

Issued in accordance with the fourth part of Article 13 and the second and third parts of Article 50 of the Credit Institutions Law

Make the following amendments to Latvijas Banka Regulation No. 259 of November 27, 2023 "Regulations on Credit Institution Licensing, Issuance of Specific Permits, and Information Provision" (Latvijas Vēstnesis, 2023, No. 231; 2025, No. 245):

Re-word sub-point 1.2 as follows:

"1.2. documents submitted for such permits provided for in the Credit Institutions Law:

1.2.1. permit for the activity of a foreign credit institution branch in the Republic of Latvia;

1.2.2. permit for the reorganization of a credit institution or a management company referred to in the first part of Article 33.6 of the Credit Institutions Law (hereinafter jointly - institution).".

Re-word sub-point 1.3.2 as follows:

"1.3.2. permit for the transfer of the institution's assets or liabilities portfolio (hereinafter - significant business) to the ownership or use of another person (hereinafter - transfer of a significant business).".

Supplement the regulations with sub-point 1.3.3 as follows:

"1.3.3. permit for obtaining a significant shareholding."

Strike out sub-point 1.5.2.
Re-word the title of Chapter III as follows:

"III. Permit for the activity of a foreign credit institution branch in the Republic of Latvia and permit for the opening of a branch of a Republic of Latvia credit institution abroad"

Re-word point 9 as follows:

"9. For a foreign credit institution branch to obtain the permit for activity in the Republic of Latvia provided for in Article 33.9 of the Credit Institutions Law, the authorized person of the foreign credit institution submits information and documents to Latvijas Banka in accordance with the first part and Annexes 1 and 3 of the European Banking Authority's 2026 Guidelines of July 7, EBA/GL/2026/08 "Guidelines on licensing (issuance of permits) of third-country branches in accordance with Article 48c(8) of Directive 2013/36/EU", as well as:

9.1. information on the close links of the foreign credit institution with third parties;

9.2. information confirming that the foreign credit institution branch meets the requirements established by the European Banking Authority's 2026 Guidelines of March 2, EBA/GL/2026/03 "Guidelines on instruments available to third-country branches for unrestricted and immediate use to cover risks or losses in accordance with Article 48e(2)(c) of Directive 2013/36/EU" and ensures their continuous compliance."

Re-word Chapter IV as follows:

"IV. Permit for institution reorganization or transfer of a significant business and permit for obtaining a significant shareholding

For an institution to obtain the permit for reorganization provided for in the first part of Article 59.9 of the Credit Institutions Law or the permit for obtaining a significant shareholding provided for in Article 33.3 of the Credit Institutions Law, it submits an application to Latvijas Banka in accordance with directly applicable European Union legal act requirements, which specify the minimum information, assessment methodology, and process regarding significant acquisitions, significant transfer of assets or liabilities, mergers, and divisions (hereinafter - Transaction Rules).
To obtain the permit for the transfer of a significant business provided for in Article 59.13 of the Credit Institutions Law, each party involved in a significant business transfer transaction individually submits a proposal for the transfer of a significant business to Latvijas Banka, which includes the information specified in the Transaction Rules and the act of transfer of client matters by the credit institution as the transferor of the significant business, or another document, from which clients can be identified, if as a result of the transfer of a significant business, client matters are transferred to the Latvian National Archives, rather than to the recipient of the significant business of the credit institution.
If an institution fails to observe or cannot observe the procedure and deadlines established in the significant business transfer plan, the institution must immediately inform Latvijas Banka."
Strike out Chapter IX.
Supplement the regulations with point 39 as follows:

"39. Amendments to Chapter IV of these regulations enter into force simultaneously with the entry into force of the corresponding Transaction Rules."

Replace the word "directives" in the informative reference to European Union directives with the words "legal acts".
Supplement the informative reference to European Union legal acts with points 3, 4, and 5 as follows:

"3) Directive 2024/1619 of the European Parliament and of the Council of May 31, 2024, amending Directive 2013/36/EU as regards supervisory powers, sanctions, third-country branches, and environmental, social, and governance risks;

European Banking Authority's 2026 Guidelines of March 2, EBA/GL/2026/03 "Guidelines on instruments available to third-country branches for unrestricted and immediate use to cover risks or losses in accordance with Article 48e(2)(c) of Directive 2013/36/EU";
European Banking Authority's 2026 Guidelines of July 7, EBA/GL/2026/08 "Guidelines on licensing (issuance of permits) of third-country branches in accordance with Article 48c(8) of Directive 2013/36/EU"."

Strike out Annex 2.

President of Latvijas Banka M. Kazāks

Details of the legal act

Title: Amendments to Latvijas Banka Regulation No. 259 of November 27, 2023 "Regulations on Credit Institution Licensing, ..

Status:

Not yet in force not yet in force

Issuer: Latvijas Banka
Type: regulation
Number: 425 Adopted: 28.09.2026. Enters into force: 01.10.2026. Published: Latvijas Vēstnesis, 188, 30.09.2026.

OP number:

2026/188.5

Amendments to Latvijas Banka Regulation No. 259 on Credit Institution Licensing, Issuance of Specific Permits, and Information Provision (No. 425)

Lineage: In force

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