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Created on 13.03.2014

On 13 March, the Council of Latvijas Banka adopted the Regulation for Compiling Credit Institution, Electronic Money Institution and Payment Institution Payment Statistics Report (in effect as of 1 July 2014).

The Regulation for Compiling Credit Institution, Electronic Money Institution and Payment Institution Payment Statistics Report sets the framework for payment statistics reporting in compliance with the methodology laid out in Regulation (EU) No 1409/2013 of the ECB of 28 November 2013 on payments statistics. According to the ECB Regulation, the payment service providers (credit institutions, electronic money institutions and payment institutions) of the euro area member states have an obligation to report statistical information to their national central banks based on the procedure established by those banks.

Latvia's credit institutions, electronic money institutions and payment institutions will first report statistics based on the Regulation adopted today starting from the payments made in the second half of this year.