International Internet Magazine. Baltic States news & analytics
Thursday, 18.12.2014, 15:26
Latvian Saeima passed amendments to the Insolvency Law in the final reading today, stipulating that the amendments will come into force on March 1, 2015, reports LETA.
Keyword tags: Financial Services, Latvia, Legislation, Loan, Real Estate
Estonian Finance Minister Maris Lauri signed a loan agreement, according to which the European Investment Bank (EIB) will give the Estonian state a 200 million euro loan, LETA/Postimees Online reports.
Latvian branch of the Estonian bank Bigbank increased its credit portfolio by 2.2% (EUR 6.4 million) in the third quarter of 2014 as compared to the second quarter, reports LETA.
As of March 2015, Eesti Pank will be applying three requirements to commercial banks issuing housing loans as a precautionary step to decrease the risk of a credit boom in the future, Estonia's central bank announced, cites LETA.
The government today approved the Privatization Agency's proposal to restructure Latvia's liabilities in regard to the European Bank for Reconstruction and Development, reports LETA.
Swedbank housing affordability index (HAI) has slightly increased in Riga in the third quarter due to monthly salaries growing faster than house prices. However, due to the recently-amended insolvency law, the down payment for a mortgage loan has significantly grown, thus, affecting the housing affordability index, reports LETA.
The total amount of the so-called "quick loans" has decreased significantly – by one-third during the past twelve months, reports LETA, referring to Latvian State Television.