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Market practices in Latvia
| Latvia | |
|---|---|
| Name of National Central Bank | Latvijas Banka |
| Phone number of the CCBM unit | +371 6702 2443, +371 6702 2201, +371 6702 2457 |
| Fax number of the CCBM unit | +371 6702 2420 |
| CCBM unit group email | mspmnd@bank.lv |
| Foreign counterparties’ contact for credit claim related issues | mspmnd@bank.lv |
| Publications describing local legal and operational procedures | Regulation "Procedure for Participation in the Eurosystem Monetary Policy Operations Organised by Latvijas Banka". |
| Legal and Procedural Aspects | |
|---|---|
| Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) | n/a |
| Procedural aspects governing a pledge towards the NCB and legal documentation used (if applicable) | Latvijas Banka, acting as CCB, opens an account for HCB in Latvijas Banka’s domestic collateral accounting system VNS. This account reflects securities mobilised by HCB’s counterparties to Latvijas Banka’s customer account with Latvian SSS in Nasdaq CSD SE. The opening of the account is done via sending of MT599 message to Latvijas Banka. |
| Specific procedures governing non-marketable assets | Regulation "Procedure for Participation in the Eurosystem Monetary Policy Operations Organised by Latvijas Banka". |
| Technical Aspects | Nasdaq CSD SE | Latvijas Banka |
|---|---|---|
| Type of eligible assets held | Marketable assets (government securities + corporate debt securities) | Non-marketable assets (credit claims) |
| Opening hours | 07:00 - 18:00 CET | 07:30 - 16:30 CET |
| Number of settlement cycles per day (please indicate cut-off for inputting instructions for each cycle) | Real-time settlement (07:00 until 18:00 CET, cut-off time 17:30 CET) | n/a |
| BIC of SSS(s) | LCDELV22 | LACBLV2XCCB |
| Account of NCB in the SSS | 99102251991 | n/a |
| HCB's sub accounts in the SSS (where applicable) | n/a | n/a |
| Matching requirements | Matching required | n/a |
| Matching/Settlement details | Trade date/Settlement date; ISIN code; Quantity (FAMT for fixed income); Buyer/Seller BIC; Receiving/Delivering Agent BIC; Place of Settlement BIC; Client of the Receiving or Delivering Agent BIC | n/a |
| Special Operating Procedures | None | None |
| Homepage of SSS | https://nasdaqcsd.com | www.bank.lv/en/ |