OREANDA-NEWS. January 18, 2011. Please, be informed that according to the amendments to the Deposit Guarantees Law, effective from January 1, 2011, the maximum compensation sum to depositors has been doubled.

According to the amendments to the Law the state guaranteed compensation ceiling per depositor, irrespective of the date the deposit has been made, will now amount to EUR 100,000 or approximately LVL 70,000. Previously, the guaranteed compensation covered the amount of the deposit, but not exceeding EUR 50,000 translated into Latvian lats at the Latvian Central Bank’s exchange rate effective on the day when the event of non-availability of deposits occurred. The Law amendments apply to all bank clients in Latvia both - natural persons and legal entities.