OREANDA-NEWS. On June 12, 2009 Parex banka has confirmed with the Financial and Capital Market Commission (FCMC) the new edition of the Instruction for implementation of limitations on fulfilment of liabilities imposed to SC Parex banka, reported the press-centre of Parex banka.

The new version of the Instructions determines that starting from 8 June 2009 the Bank is allowed to perform debit operations for corporate clients without checking compliance with commercial activity of the client and limits on the client's funds exceeding the total balance as of 8 June 2009.

Druvis Murmanis, Parex banka’s Senior Vice-president and Head of Corporate Customer Sector, notes: “This is definitely a positive sign for the Bank's existing and potential corporate clients as it will allow to accelerate and to facilitate customer payment processing.”

The new version of the Instruction determines that the client will be able to perform debit operations without checking compliance with commercial activity to the amounts, deposited into client's account(s) starting from 8 June 2009 and exceeding client's total balance as of 8 June 2009.

On 1 December 2008, the Cabinet of Ministers of Republic of Latvia and the Financial and Capital Market Commission (FCMC) jointly decided to restrict debit payments at Parex banka in order to retain the Bank’s capital adequacy ratio and liquidity position at sufficient level after State takeover on 8 November 2008 and receiving necessary State aid.