Regulatory Alerts2024-02-16
Regulation on Compiling and Submitting Statistical Data on Non-bank External Payments
Latvijas Banka issued Regulation No 217 to establish the requirements and procedures for credit institutions and merchants to compile and submit statistical data on non-bank external payments. The regulation mandates that credit institutions submit monthly reports within three business days and merchants within five business days, covering transactions of 10,000 euros or more. This framework replaces previous regulations and takes effect on 1 January 2023 to support the compilation of balance of payments and direct investment statistics.
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