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Saturday, 01.08.2015, 12:45
Estonia's central bank Eesti Pank announced that changes to the Eesti Pank Act came into force on 19 May 2014 giving the central bank a clearer mandate than before to act as a macroprudential authority in Estonia, informs LETA.
Keyword tags: Banks, Estonia, Financial Services, Legislation
The Board of the Bank of Lithuania decided to issue an insurance business licence for the private limited liability insurance undertaking Compensa Vienna Insurance Group, UADB in the process of foundation, which entitles to engage in the activities of insurance classes within the non-life insurance branch and of compulsory insurance, reported LETA/ELTA, referring to Lithuania's central bank.
As of the end of June 2015, the Estonian stabilisation reserve volume was 373 million EUR in market value; the volume of the reserve grew by 5 million EUR or 1.4% in a year, LETA/Postimees Online reports.
Latvian banks' lending policies are too passive, which hinders Latvia's economic growth, Economy Minister Dana Reizniece-Ozola (Greens/Farmers) said in an interview with LNT television channel today, cites LETA.
The Latvian banking sector operated with a profit of EUR 219.6 million in the first six months of 2015, reports LETA, according to the Financial and Capital Market Commission's preliminary data about Latvian banks' performance in the first half of the year.
In June 2015 the Bank of Lithuania's holdings of debt securities, issued by euro area residents, and loans to euro area residents increased by EUR 211.0 million and EUR 3.7 million respectively. At the end of the month, these indicators amounted to EUR 1.9 billion and EUR 592.1 million respectively, reports LETA/ELTA Lithuania's central bank.
In the first half of the year 2015, profit of monetary financial institutions in Latvia was EUR 220.6 million, reports LETA, according to the Bank of Latvia.