Posts tagged as central bank

Central bank requires home loan issuing caution for SEB, Swedbank

Wednesday, July 21, 2021

The Bank of Estonia (Eesti Pank) has urged caution on the part of two significant banks in issuing home loans, and instigated specific requirements for the two banks in particular, in order to mitigate risk against any potential future downturn and at a time when the real estate market is particularly active. The central bank has retained a requirement that Swedbank and SEB have to apply a risk weight of…

Latvian central bank warns about scammers

Tuesday, July 6, 2021

The Latvian central bank (Latvijas banka, LB) warned the public July 5 to be on guard against suspected fraudsters using the bank’s name as part of a potential scam. “Recently, we have encountered several cases of attempted fraud using the Bank of Latvia’s name – including requesting information on the financial status of members of the population, spreading false information, as well as allegations of incorrect non-cash transfers,” said a statement from LB. “We…

Lithuanian central bank ups 2021 growth forecast to 5.1%

Monday, June 14, 2021

Lithuania’s central bank said on Monday it now expected the economy to grow 5.1% in 2021, a upward revision from the 2.9% increase seen in March. The increase is due to robust growth in the first quarter, growing demand for exports, faster wage growth and spending of savings accumulated during the pandemic, central bank governor Gediminas Simkus told reporters. The central bank cut the forecast for next year’s growth to…

Lithuanian central bank rebuffs Wirecard criticism

Thursday, May 20, 2021

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. https://www.ft.com/content/4d183554-e7fd-40ca-8114-524423420d64 Lithuania’s central bank insisted it was not “asleep at…

Latvian Saeima advances merger of central bank and financial regulator

Thursday, April 22, 2021

On April 22, the Saeima conceptually supported the merger of Finance and Capital Market Commission (FKTK) and Latvian Central Bank (Latvijas Banka). In the first reading, Parliament approved both a new  draft law of the Bank of Latvia, which provides for a framework for the operation of the central bank following its merger with the FKTK, as well as a majority of the accompanying packages related to it, which includes 24…

Estonian Central bank: COVID-19 has shown importance of integration, cooperation

Monday, April 19, 2021

New opportunities for Estonian businesses have emerged during the COVID-19 crisis as global supply chains get shorter and become more regional, said Governor of the Bank of Estonia (Eesti Pank) Madis Müller at a conference on economic security on Wednesday. Müller said there is a global trend in shortening the supply chains for the production of critically important products and components. “The strength of the Estonian economy comes not from…

Bank of Estonia: Import growth behind February current account deficit

Tuesday, April 13, 2021

Estonia’s current account deficit stands at €14 million for February, the Bank of Estonia reports. According to the bank’s flash estimate , exports of goods rose by 3 percent on year to February, while imports rose by 10 percent, which put the goods account in a deficit of €75 million. The corresponding figures for services were 16 percent and 22 percent respectively, which led to a services account surplus of…

Latvian central bank becomes more upbeat on growth

Wednesday, March 31, 2021

Latvijas banka, the Latvian central bank (LB) revealed its latest macroeconomic predictions March 30. Central bank governor Mārtiņš Kazāks revealed a slight improvement in sentiment overall. In 2021, Latvia’s gross domestic product (GDP) is expected to grow by 3.3%, and in 2022 at almost twice that rate at 6.5%. Previous    forecasts   made in    December   predicted 2.8% growth this year, and 5.3% in 2022. Due to the spread of Covid-19, Latvia’s GDP    decreased by 3.6%…

Latvian central bank revises its economic forecasts downwards

Monday, December 14, 2020

The Latvian central bank (Latvijas Banka, LB) has revised its GDP and inflation forecasts for 2021 downwards, citing increased uncertainty about the future. The 2020 GDP forecast remains unchanged at -4.7% but the projected economic recovery in 2021 will likely be much weaker than projected in September’s forecast. Now the central bank expects growth of just 2.8% in 2021 compared to a figure of 5.1% in its last forecast. Meanwhile, the inflation forecast…

Latvian central bank puts out a special linden leaf coin

Thursday, October 29, 2020

The Latvian central bank is issuing another coin for collectors, this one bearing the image of a linden leaf and dedicated to the theme of ecology. In the words of the bank itself: Unlike many other big cities, Riga is comparatively green. This quality is becoming more essential with more urban development. Green areas improve the microclimate since they purify the air and water, thus improving human health.  They are…