OREANDA-NEWS. May 26, 2014. The Council of Latvijas Banka approved a number of regulations to ensure the compliance of statistics on monetary financial institutions and holdings of securities with the requirements the European Central Bank has set out for the euro area member states (new regulations shall take effect on 01.12.2014).

The amendments to the regulations have been made with due consideration given to the requirements set out in Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector, Regulation (EU) No 1072/2013 of the European Central Bank of 24 September 2013 concerning statistics on interest rates applied by monetary financial institutions, and Regulation (EU) No 1011/2012 of the European Central Bank of 17 October 2012 concerning statistics on holdings of securities. By introducing the requirements under the regulations above, the breakdown of sectors is also ensured in compliance with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

The Council of Latvijas Banka approved new versions of four regulations and amendments to two regulations of Latvijas Banka.

The revised regulations are as follows:

"Regulation for Compiling the Monthly Financial Position Report of Monetary Financial Institutions";

"Regulation for compiling the "Report on Adjustments in Respect of Write-Offs/Write-Downs of Loans and Price Revaluations of Securities"";

"Regulation for Compiling Interest Rate Reports of Monetary Financial Institutions";

"Regulation for Compiling Reports on Securities".

Amendments have been made to the following regulations:

"Regulation for Preparing the "Calculation of the Reserve Base and Requirements"";

"Regulation for Compiling the "Report on Long-Term Foreign Debt of Credit Institutions"".

In the area of statistics, Latvijas Banka engages in the implementation of several tasks significant for the functioning of the economy and the financial system. Latvijas Banka compiles monetary and financial statistics, banknote statistics, payment and payment systems statistics, financial stability statistics as well as balance of payments and international investment position statistics, and takes an active part in the compilation of statistical data at the European level.