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Bank of Latvia

Riga, 20 November 2007

On 19 November 2007, the new interbank euro payment system TARGET2-Latvija started its operation, with Latvijas Banka initiating its first euro payment to the Oesterreichishe Nationalbank.

TARGET2-Latvija, operated by Latvijas Banka in cooperation with other central banks of the European System of Central Banks, is one of the 21 components of TARGET2, the European real time gross settlement system.

Today the Latvian financial community starts direct participation in TARGET2, which is one of the largest payment systems in the world. In parallel with Latvian participants, more than 1000 financial entities from EU countries will settle their euro payments in TARGET2 in real-time. The system ensures reachability of more than 50 800 financial entities.

As of the first day of the system's operation, the following Latvian financial entities participate in TARGET2-Latvia:

AS "Aizkraukles banka" Nordea Bank Finland Plc Latvijas filiāle
AS "Akciju komercbanka "Baltikums"" AS "NORVIK BANKA"
AS "Baltic International Bank" AS "Parex banka"
AS "Baltic Trust Bank" AS "PrivatBank"
AS DnB NORD Banka AS "Reģionālā investīciju banka"
AS "Hansabanka" AS "Rietumu Banka"
Latvijas Banka AS "Sampo Banka"
AS "Latvijas Biznesa banka" AS "SEB Latvijas Unibanka"
Latvijas Centrālais depozitārijs AS "Trasta komercbanka"
VAS "Latvijas Hipotēku un zemes banka" AS "UniCredit Bank"
AS "Latvijas Krājbanka" Valsts kase
AS "Latvijas tirdzniecības banka" AS "VEF banka"
AS "Multibanka"  

On 19 November, TARGET2-Latvija participants initiated 39 payments representing the value of 59.4 EUR millions in TARGET2. TARGET2-Latvija participants received from financial institutions of other countries 185 payments in the value of 61.9 EUR millions.