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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 on a 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, has to open a pledge account for the respective counterparty in its local securities system. The pledge account is linked with the Latvijas Banka’s account with Latvian SSS. The opening is done via sending of MT599.
Specific procedures governing non-marketable assets Terms and conditions of 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; Amount; Buyer/Seller BIC; Receiving/Delivering Agent; Depositary n/a
Special Operating Procedures None None
Homepage of SSS http://www.nasdaqbaltic.com/en/csds/latvian-csd/ www.bank.lv/en/