Published: 20.04.2024

Today the Council of Latvijas Banka approved amendments to the Regulation No. 93 "Regulation for the Credit Register" of 13 September 2012 (in effect as of 1 October 2015; hereinafter, the amendments).

The amendments pertain to the launch of a credit information bureau's operation. Pursuant to the Law "On Credit Register", the amendments stipulate the scope of the Credit Register data receipt, should a Credit Register participant receive the above data via a credit information bureau.

Some amendments have also been made to the classificators. For instance, "Classificator of the type of collateral" (Appendix 4 to the above Regulation) has been supplemented with new types of collateral, thus ensuring adequately mortgage-backed customer obligations for a discharge of such obligations in full (compliance with the so-called non-recourse principle).

A transition period has been set for the Credit Register participants to review the Credit Register data till 31 December 2015.