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Within the framework of further implementation of cost efficiency improvement measures of Latvijas Banka, the Council of Latvijas Banka has made a decision to discontinue services provision at its Liepāja Branch as of 30 December 2019.

This decision was made in view of the modernisation project of the Riga Branch of Latvijas Banka completed this year; as a result, its capacity has been expanded and its role as the cash currency supply centre in the Baltic region has been strengthened. Following the completion of the project, changes are introduced in the operational organisation of Latvijas Banka to optimise its operation, inter alia provision of its services.

With cash circulation process changing and credit institutions and cash processing operators making the provision of the above services centralised, the number of regional branches of Latvijas Banka also gradually decreased and the Liepāja Branch was the last one. Cash processing is concentrated in the Riga Branch of Latvijas Banka, it has been built and modernised for this purpose.

The above decision will enable Latvijas Banka to fully satisfy credit institution demand for cash at a considerably less cost with the help of the Riga Branch next year. To ensure equal access to Latvijas Banka services for businesses and individuals, such as receiving Credit Register data and purchasing numismatic products in any region in Latvia, timely preparations had been made improving remote access to the above services without the need to visit Latvijas Banka branches.

Latvijas Banka cooperation partners as well as general public were notified of the above decision of the Council of Latvijas Banka in a timely manner.

There are 31 employees at the Liepāja Branch of Latvijas Banka. By the time the operation of the branch is discontinued, Latvijas Banka will take all reasonable effort to ensure support to the employees in looking for new job opportunities.