The Saeima (the Parliament) adopted the new Law on Latvijas Banka. The Law provides for the integration of Latvijas Banka and the Financial and Capital Market Comission (FCMC) to become a single institution as of 2023.
The new Law on Latvijas Banka establishes the integrated institution's operational principles, tasks and governance framework, as well as its role in implementing the macroprudential policy. The Law provides for the integration of the FCMC with Latvijas Banka, respecting the independence of its monetary policy functions and the functions of the finance and capital market supervision and resolution authority.