The new version implements the requirements of Regulation (EU) No 2016/1384 of the European Central Bank of 2 August 2016 amending Regulation (EU) No 1011/2012 (ECB/2012/24) concerning statistics on holdings of securities (ECB/2016/22). The amendments were introduced with a view to obtaining information on the securities holdings of banking groups deemed significant by the ECB. The above-mentioned credit institutions will have to submit a new report on securities called "Quarterly Report of the Securities Holdings of the Banking Group", providing data on the end-of-quarter positions of the respective banking group's securities holdings and accounting, risk and supervisory indicators of these positions. These indicators will allow to conduct a more in-depth analysis of the monetary policy transmission mechanism, assess the Eurosystem's exposure in relation to counterparties in monetary policy operation, and conduct more in-depth credit risk stress tests and financial stability analysis.
Amendments have also been introduced to the requirements for the preparation and submission of the "Monthly Report on Securities with ISIN Codes", "Monthly Report on Securities without ISIN Codes" and "Monthly Report on Equity Holdings (according to position 270000 of the "Monthly Financial Position Report" of monetary financial institutions)", inter alia introducing identification of securities' holders at an individual level as well as changing the identification arrangements for the EU's financial institutions. In the future, the identification codes contained in the lists of the EU's financial institutions maintained on the ECB's website will have to be used when identifying a financial institution of the EU.
The Regulation is taking effect on 1 September 2018. The first "Quarterly Report on the Securities Holdings of the Banking Group" will have to be submitted by 30 October 2018, reporting on the position as at 30 September 2018.
One of the most important Latvijas Banka's tasks is collection, storage and processing of statistical data, as well as development, production, analysis and dissemination of statistical information. Latvijas Banka compiles monetary and financial statistics, banknote statistics, payment and payment system statistics, financial stability statistics, balance of payments and international investment position statistics, as well as gets actively involved in compilation of statistical data at the European level.
In addition to that, Latvijas Banka, acting in the public and economic interest, carries out several tasks significant for each and every inhabitant, financial markets and the public at large:
– participates in defining and implementing the Eurosystem's monetary policy;
– issues cash in Latvia and participates in ensuring the cash circulation process in the euro area;
– discharges the function of the central national currency authentication centre;
– maintains the interbank payment systems' infrastructure (including the infrastructure for instant payments) and promotes their smooth operation;
– manages the foreign reserves and other financial investments;
– acts as the financial agent of Latvia's government and provides financial services to other market participants;
– maintains and develops the Credit Register;
– acts as an advisor to the Parliament and Cabinet of Ministers of the Republic of Latvia on monetary policy issues and other issues related to Latvijas Banka's operation;
– promotes analysis and research of macroeconomic and financial issues, thereby laying a secure foundation for professional activities in these areas.