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The translation of this document is outdated.
Translation validity: 30.11.2023.–19.12.2025. Amendments not included: 15.12.2025.
Regulations for the Licensing of Credit Institutions, the Issuing of Individual Authorisations, and the Provision of InformationIssued pursuant to I. General Provisions1. The Regulation prescribes: 1.1. the procedures for issuing the licence (authorisation) for the operation of a credit institution and the documents to be submitted; 1.2. the documents to be submitted for the following licences (authorisations) provided for in the Credit Institution Law: 1.2.1. the licence (authorisation) for the operation of a branch of a foreign credit institution in the Republic of Latvia; 1.2.2. the authorisation for the reorganisation of a credit institution; 1.3. the documents to be submitted and additional requirements for the following authorisations provided for in the Credit Institution Law: 1.3.1. the authorisation for opening a branch of a credit institution of the Republic of Latvia in a foreign country; 1.3.2. the authorisation for the transition of the body of property subject to separation, the body of assets or liabilities, or the body of standard contracts entered into with customers of the credit institution of a credit institution undertaking or a part thereof, including a branch, into the ownership or use of another individual (hereinafter - the transition of the credit institution undertaking); 1.4. the submission procedures and the documents to be submitted for the following notifications provided for in the Credit Institution Law: 1.4.1. for opening a branch of a credit institution of the Republic of Latvia in a Member State and for providing financial services in the Member State without opening a branch; 1.4.2. for opening a representative office of a foreign credit institution and a credit institution of a Member State in the Republic of Latvia; 1.4.3. for opening and closing a representative office of a credit institution of the Republic of Latvia in a foreign country and a Member State; 1.4.4. for the disbursement of dividends and extraordinary dividends; 1.5. the procedures by which a credit institution shall prepare and submit information to Latvijas Banka necessary for supervision on: 1.5.1. close links; 1.5.2. the operation of a branch of a foreign credit institution in the Republic of Latvia; 1.5.3. the structural units of a credit institution and the provision of financial services in a Member State without opening a branch. 2. If, during examination of the submission or other documents, amendments are made to the documents referred to in this Regulation and to be submitted, the submitter shall immediately submit the revised documents to Latvijas Banka. 3. If such documents must be submitted in the cases specified in this Regulation which are already at the disposal of Latvijas Banka and there have been no changes in the information included therein, the relevant documents need not be resubmitted, and it shall be indicated in the submission to Latvijas Banka when the relevant documents have been submitted and that there have been no changes in the information included therein since the moment of submission. II. Licence (Authorisation) for the Operation of a Credit Institution4. In order to obtain a licence (authorisation) for the operation of a credit institution provided for in Section 11 of the Credit Institution Law, the credit institution to be newly established shall submit information and documents to Latvijas Banka in accordance with the requirements of the following directly applicable legal acts of the European Union: 4.1. Commission Delegated Regulation (EU) 2022/2580 of 17 June 2022 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be provided in the application for the authorisation as a credit institution, and specifying the obstacles which may prevent the effective exercise of supervisory functions of competent authorities; 4.2. Commission Implementing Regulation (EU) 2022/2581 of 20 June 2022 laying down implementing technical standards for the application of Directive 2013/36/EU of the European Parliament and of the Council with regard to provision of information in applications for authorisation of a credit institution. 5. In addition to the documents referred to in Paragraph 4 of this Regulation, the credit institution to be newly established shall submit to Latvijas Banka an acknowledgement of having become acquainted with the procedures for personal data processing within the scope of the licensing procedure (Annex 1) signed by the officials and shareholders of the credit institution. 6. Latvijas Banka shall issue a licence (authorisation) within three working days following the registration of the credit institution in the Commercial Register. 7. In case of a change in the name (firm name) of the credit institution, Latvijas Banka shall re-register the licence (authorisation) within three working days after receiving the relevant information. 8. If, in accordance with Section 11 of the Credit Institution Law, operational conditions other than those previously specified in the licence (authorisation) are imposed on the credit institution, Latvijas Banka shall re-register the licence (authorisation) for the operation of the credit institution along with taking of the decision providing for those conditions. III. Licence (Authorisation) for the Operation of a Branch of a Foreign Credit Institution in the Republic of Latvia and an Authorisation for Opening a Branch of a Credit Institution of the Republic of Latvia in a Foreign Country9. In order for a branch of a foreign credit institution to obtain a licence (authorisation) for the operation in the Republic of Latvia provided for in Section 11 of the Credit Institution Law, an authorised person of the foreign credit institution shall submit to Latvijas Banka: 9.1. a submission; 9.2. the information indicated in Annex 2 to this Regulation; 9.3. an authorisation from the supervisory authority of foreign credit institutions for opening a branch of the credit institution in the Republic of Latvia, if the laws and regulations of the relevant foreign country provide for the need of such authorisation, or an approval from the authority that such authorisation is not necessary and that it does not object to the opening of the branch; 9.4. the information on close links of the foreign credit institution with third persons. 10. In order to obtain an authorisation for opening a branch of a credit institution of the Republic of Latvia in a foreign country provided for in Section 12, Paragraph one of the Credit Institution Law, an authorised person of the credit institution shall submit to Latvijas Banka: 10.1. a submission; 10.2. the by-laws of the branch of the credit institution approved in accordance with the procedures laid down in the articles of association of the credit institution; 10.3. the following information on the candidate for the position of the head of the branch of the credit institution: 10.3.1. the information identifying the person (given name, surname, date and place of birth and also the national identification number of the person (if any)); 10.3.2. data of the personal identification document (number, date of issue, period of validity, issuing institution, and issuing country); 10.3.3. a description of life and work experience (CV), indicating the positions held in the last 10 years, the scope of authority, and the functions performed. 11. After obtaining an authorisation for opening a branch of a credit institution of the Republic of Latvia in a foreign country, the credit institution shall, within 30 working days after registration of the branch of the credit institution in the relevant foreign country, submit a copy of a document certifying the registration of the branch and also a copy of the licence (authorisation) issued by the foreign competent authority to Latvijas Banka if the legal acts of the foreign country provide for the need of such licence (authorisation). IV. Authorisation for the Reorganisation of a Credit Institution and an Authorisation for the Transition of a Credit Institution Undertaking12. In order to obtain the authorisation for the reorganisation of a credit institution provided for in Section 57, Paragraph one of the Credit Institution Law, each credit institution involved in the reorganisation shall submit to Latvijas Banka: 12.1. a submission signed by the head, indicating the reasons for the reorganisation and providing information on the countries where the credit institution has creditors; 12.2. the balance sheet of the credit institution that will continue operating after reorganisation; 12.3. the information on the planned own funds and the planned capital adequacy ratios after completion of reorganisation. 13. In order to obtain an authorisation for the transition of a credit institution undertaking provided for in Section 59.2 of the Credit Institution Law, the credit institution shall submit a proposal to Latvijas Banka for the transition of the credit institution undertaking comprising: 13.1. a submission for the transition of the credit institution undertaking; 13.2. the agreement on the transition of the credit institution undertaking entered into between the credit institution transferring the credit institution undertaking and the acquirer of the credit institution undertaking or a copy of that agreement; 13.3. a justification for the transition value of the assets and liabilities comprised by the credit institution undertaking; 13.4. a plan for the transition of the credit institution undertaking, specifying the transition procedures and periods of the undertaking; 13.5. the balance sheets of the transferor of the credit institution undertaking and the acquirer of the credit institution undertaking, if it is subject to supervision by Latvijas Banka, which have been prepared, taking into account the outcome of the transition of the credit institution undertaking, and the financial forecast for the next two years from the date of the transition of the credit institution undertaking; 13.6. the deed on transferring the customer files of the transferor of the credit institution undertaking or other document identifying the customers if, as a result of the transition of the credit institution undertaking, the customer files are transferred to the National Archives of Latvia instead of being transferred to the acquirer of the credit institution undertaking. 14. If the credit institution fails or is unable to conform to the procedures and periods specified in the plan for the transition of the credit institution undertaking, the credit institution shall immediately notify Latvijas Banka thereof. V. Notification on Opening a Branch of a Credit Institution of the Republic of Latvia in a Member State or Provision of Financial Services in the Member State Without Opening a Branch15. A credit institution wishing to open a branch in a Member State or to provide financial services in a Member State without opening a branch shall submit the submission referred to in Section 12.2, Paragraph two or Section 12.3, Paragraph two of the Credit Institution Law accordingly to Latvijas Banka in accordance with the requirements of the following directly applicable EU legal acts: 15.1. Commission Implementing Regulation (EU) No 926/2014 of 27 August 2014 laying down implementing technical standards with regard to standard forms, templates and procedures for notifications relating to the exercise of the right of establishment and the freedom to provide services according to Directive 2013/36/EU of the European Parliament and of the Council; 15.2. Commission Delegated Regulation (EU) No 1151/2014 of 4 June 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards on the information to be notified when exercising the right of establishment and the freedom to provide services. 16. In order to open a branch in a Member State, the credit institution shall, in addition to the submission specified in Paragraph 15 of this Regulation, submit the acknowledgement of having become acquainted with the procedures for personal data processing within the scope of this procedure (Annex 3) signed by the head of the branch of the credit institution. 17. In order to provide financial services in a Member State without opening a branch, the credit institution shall, in addition to the submission referred to in Paragraph 15 of this Regulation, submit to Latvijas Banka: 17.1. a description of the process of providing the planned services; 17.2. a description of the potential customer base (residents or non-residents, legal or natural persons, business sector of legal persons) and a description of the customer acquisition process; 17.3. information on whether the current procedures will be used or new procedures for the acquisition of customers and provision of services in other Member States have been developed; 17.4. a detailed description of the process of identification, due diligence, and supervision of transactions for customers of the credit institution acquired in other Member States; 17.5. a comprehensive risk assessment by the risk manager regarding the provision of the planned services; 17.6. information on the alignment of the planned services with the strategy of the credit institution. VI. Notification on Opening or Closing a Representative Office18. For the fulfilment of the obligation provided for in Section 12, Paragraph three of the Credit Institution Law, an authorised person of the credit institution shall, within five working days after making an entry in the Commercial Register, notify Latvijas Banka in writing of opening a representative office of a foreign credit institution or of a credit institution of a Member State in the Republic of Latvia in accordance with Annex 4 to this Regulation. Latvijas Banka shall immediately notify the supervisory authority of the foreign credit institution or the credit institution of the Member State of the receipt of the abovementioned notification. 19. For the fulfilment of the obligation provided for in Section 12, Paragraph four of the Credit Institution Law, the credit institution of the Republic of Latvia shall notify Latvijas Banka in writing of: 19.1. the intention to open a representative office in a foreign country or a Member State not later than 30 days prior to opening the representative office. The credit institution shall specify the name, legal address of the representative office and the given name and surname of the head of the representative office in the submission; 19.2. closing a representative office in a foreign country or a Member State within five working days after the representative office has ceased to operate. VII. Notification on the Intention to Disburse Dividends (Including Extraordinary Dividends)20. When submitting the notification provided for in Section 85, Paragraph three of the Credit Institution Law on the intention to disburse dividends, the credit institution shall submit a submission to Latvijas Banka in writing, indicating the foreseeable amount of dividends and appending the following documents: 20.1. the annual statement of the credit institution together with a report of a sworn auditor on the annual statement of the credit institution if it has not already been submitted to Latvijas Banka; 20.2. other additional information necessary for Latvijas Banka to be able to assess whether, as a result of the disbursement of dividends, the credit institution will be able to meet the indicators and restrictions specified for the credit institution in the Credit Institution Law, the Law on Recovery of Activities and Resolution of Credit Institutions and Investment Firms, and directly applicable legal acts of the European Union over the next three years, where their amount (level) is affected by the disbursement of dividends both under regular operating conditions and in a crisis situation. 21. When submitting the notification provided for in Section 85, Paragraph three of the Credit Institution Law on the intention to disburse extraordinary dividends, the credit institution shall submit a submission to Latvijas Banka in writing, indicating the foreseeable amount of dividends and appending thereto: 21.1. interim financial statements for the period for which the extraordinary dividends are determined, if less than six months have passed since the beginning of the reporting year until the date of determining the extraordinary dividends; 21.2. interim financial statements for the period for which the extraordinary dividends are determined together with a report of a sworn auditor on interim financial statements of the credit institution, if six months or more have passed since the beginning of the reporting year until the date of determining the extraordinary dividends; 21.3. other additional information necessary for Latvijas Banka to be able to assess whether, as a result of the disbursement of dividends, the credit institution will be able to meet the indicators and restrictions specified for the credit institution in the Credit Institution Law, the Law on Recovery of Activities and Resolution of Credit Institutions and Investment Firms, and directly applicable legal acts of the European Union over the next three years, where their amount (level) is affected by the disbursement of dividends both under regular operating conditions and in a crisis situation. 22. The interim financial statements referred to in Paragraph 21 of this Regulation shall be prepared in accordance with the laws and regulations governing the preparation of the annual statement and the consolidated annual statement of credit institutions or the requirements of the International Accounting Standard 34 specified in Commission Regulation (EU) 2023/1803 of 13 August 2023 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council. 23. In order to obtain the agreement provided for in Section 85, Paragraph two of the Credit Institution Law on the disbursement of dividends (including the extraordinary dividends), in cases where the report of a sworn auditor on the financial statements of the credit institution contains notes or the sworn auditor has refused to provide an opinion or has provided a negative opinion, the credit institution shall submit a submission to Latvijas Banka in writing, specifying the foreseeable amount of dividends (including the extraordinary dividends) and explaining the reasons for the notes made by the sworn auditor, the refusal to provide an opinion, or the reasons for the negative opinion provided. VIII. Provision of Information on Close Links24. The credit institution shall inform Latvijas Banka in writing of its intention to establish close links or increase their scope not later than 30 days prior to establishing the close links or increasing their scope. The credit institution shall inform Latvijas Banka of termination of close links or reduction in their scope not later than 30 days after termination of those close links or reduction in their scope. 25. When providing information on persons with whom the credit institution has close links, the credit institution shall, in accordance with Paragraph 24 of this Regulation, specify the following: 25.1. for natural persons - the given name, surname, personal identity number (if none, the year and place of birth), citizenship, type and scope of close links expressed as a whole percentage; 25.2. for commercial companies - the firm name (name), place and number of registration, type and scope of close links expressed as a whole percentage and also whether the commercial company provides credit risk-related financial services. 26. The credit institution shall, in accordance with Paragraph 24 of this Regulation, inform Latvijas Banka of close links in the form of participation only if at least one of the following condition is to occur: 26.1. the investment enables the exertion of influence over the management or financial policy of the commercial company; 26.2. the investment will not be classified as a financial asset at fair value through profit or loss or as a financial asset at fair value through other comprehensive income; 26.3. the commercial company maintaining close links will provide credit risk-related financial services. 27. If the commercial company maintaining close links commences or ceases to provide credit risk-related financial services, the credit institution shall, not later than 30 days after commencing or ceasing to provide the abovementioned services, inform Latvijas Banka thereof in writing. 28. The credit institution shall prepare the information on close links as of 31 December of the previous year in accordance with Annex 5 to this Regulation and submit it to Latvijas Banka electronically by 31 January, using a high-security system in accordance with the regulations of Latvijas Banka governing the electronic exchange of information with Latvijas Banka. 29. When providing the information referred to in Annex 5 to this Regulation, the credit institution shall indicate the following information on all persons with whom the credit institution has close links: 29.1. in the column "Personal identifier": 29.1.1. for natural persons - the personal identity number (if none, the year of birth); 29.1.2. for commercial companies - the registration number; 29.2. in the column "Name of the person": 29.2.1. for natural persons - the given name and surname; 29.2.2. for commercial companies - the name (firm name) of the commercial company; 29.3. in the column "Country code" in accordance with the international standard ISO 3166, Codes for the representation of names of countries and their subdivisions: 29.3.1. for natural persons - the code of the country of citizenship (if none, the code of the country of birth); 29.3.2. for commercial companies - the code of the country of registration; 29.4. in the column "Type of close links", the value of the type of close links as "38a", "38b", or "38c" in accordance with Article 4(1)(38) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; 29.5. in the column "Scope of close links", the scope of close links expressed as a whole percentage; 29.6. in the column "Indication", the value "KRR", if the commercial company provides credit risk-related financial services. IX. Provision of Information on the Operation of a Branch of a Foreign Credit Institution in the Republic of Latvia30. For the fulfilment of the obligation provided for in Section 20, Paragraph three of the Credit Institution Law, the branch of a foreign credit institution shall submit the following information to Latvijas Banka on its operation in the Republic of Latvia: 30.1. the data on the distribution of liquid assets by currency; 30.2. the information on the deposit guarantee scheme of which the relevant branch of the foreign credit institution is a member; 30.3. the risk management policy; 30.4. the organisational structure of governance and operation and information on persons performing essential functions in the branch of the foreign credit institution; 30.5. the recovery plan. 31. The branch of the foreign credit institution shall, once a year by 31 January of the following year, submit the information referred to in Paragraph 30 of this Regulation to Latvijas Banka on the status as of 31 December of the previous year in writing. 32. Latvijas Banka has the right to request any additional information from the branch of the foreign credit institution which is necessary for its supervision. X. Provision of Information on the Structural Units of a Credit Institution and the Provision of Financial Services in a Member State Without Opening a Branch33. A credit institution shall prepare information on the branches and representative offices of the credit institution in foreign countries and Member States, on the provision of financial services in a Member State without opening a branch, and also on its structural units (settlement group, customer service centre, etc.) in the Republic of Latvia, except for the branches registered in Latvia as of 31 December of the previous year in accordance with Annex 6 to this Regulation and submit it to Latvijas Banka electronically by 31 January, using a high-security system in accordance with the regulations of Latvijas Banka governing the electronic exchange of information with Latvijas Banka. 34. When providing the information referred to in Annex 6 to this Regulation, the credit institution shall indicate: 34.1. in the column "Type of structural unit": 34.1.1. the value "FIL" for branches of the credit institution in foreign countries and Member States; 34.1.2. the value "PRST" for representative offices of the credit institution in foreign countries and Member States; 34.1.3. the value "FPS" for the provision of financial services by the credit institution in a Member State without opening a branch; 34.1.4. the value "STR" for structural units of the credit institution (settlement group, customer service centre, etc.) in the Republic of Latvia; 34.2. in the column "Country code", the country in which the credit institution has established a branch or a representative office, and also the code of the Member State where the credit institution provides financial services without opening a branch, in accordance with the international standard ISO 3166, Codes for the representation of names of countries and their subdivisions; 34.3. in the column "Number", the number of the relevant structural units of the credit institution. XI. Closing Provisions35. The following regulations are repealed: 35.1. Regulatory Provisions No. 200 of 27 October 2020 of the Financial and Capital Market Commission, Procedures for Submitting Information and Documents for Obtaining a Licence of a Credit Institution, Certain Permits Regulating the Operation of a Credit Institution, and Document Agreement, and for the Provision of Information (Latvijas Vēstnesis, 2020, No. 214); 35.2. Regulatory Provisions No. 129 of 11 August 2020 of the Financial and Capital Market Commission, Regulatory Provisions for Examining Proposal for the Transition of a Credit Institution Undertaking (Latvijas Vēstnesis, 2020, No. 158). 36. Paragraphs 28, 29, 33, and 34 of this Regulation shall come into force on 1 March 2024. 37. A credit institution shall prepare information on close links and information on branches, representative offices, and other structural units of a credit institution for the year 2023 and submit it to Latvijas Banka in accordance with the procedures laid down in Regulatory Provisions No. 200 of 27 October 2020 of the Financial and Capital Market Commission, Procedures for Submitting Information and Documents for Obtaining a Licence of a Credit Institution, Certain Permits Regulating the Operation of a Credit Institution, and Document Agreement, and for the Provision of Information. Informative Reference to European Union DirectivesThe Regulation contains legal norms arising from: 1) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC; 2) Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures. Governor of Latvijas Banka M. Kazāks
Annex 1 Acknowledgement of Having Become Acquainted with the Procedures for Personal Data Processing within the Scope of the Licensing ProcedureWhen commencing the operation of a credit institution, prior obtaining of a licence (authorisation) is the primary prudential supervision method to ensure that such operation is conducted only by entrepreneurs which have a stable economic foundation and structure capable of mitigating the specific risks associated with accepting deposits and issuing credits and which have suitable management. Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (hereinafter - the SSM Regulation), having regard to Article 127(6) of the Treaty on the Functioning of the European Union, provides for conferring specific tasks on the European Central Bank (hereinafter - the ECB) concerning policies relating to prudential supervision of credit institutions. For the purposes of prudential supervision, within the scope of Article 6 of the SSM Regulation, tasks in relation to the credit institutions established in the participating Member States referred to in Article 4 of the SSM Regulation are conferred on the ECB. In accordance with Article 4(1)(a) of the SSM Regulation, the ECB authorises the credit institutions subject to Article 14 of the SSM Regulation. In accordance with the abovementioned article, the submission for obtaining an authorisation to take up the business of a credit institution to be established in a participating Member State shall be submitted to the national competent authorities (hereinafter - Latvijas Banka) of the Member State where the credit institution is to be established in accordance with the requirements laid down in relevant national law. If all requirements have been met, Latvijas Banka shall evaluate the submission and draft a decision with the proposal for the ECB to issue the authorisation. The ECB shall object to the draft decision only where the conditions for issuing authorisations set out in the relevant Union law are not met. In accordance with Articles 13(1), 14(2), 16(3), and 91 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, the suitability of the proposed members of the management body and stockholders shall be ensured. Article 73 of Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (hereinafter - the SSM Framework Regulation) prescribes the procedures for cooperation between Latvijas Banka and the ECB within the licensing procedure. Transfer of Personal Data All requested personal data shall be necessary to evaluate the suitability of the proposed members of the management body and shareholders in relation to the application for a license (authorisation) to commence the operation of a credit institution. If data is not submitted, the application shall be rejected on the grounds of incomplete information. Recipients or Groups of Recipients of Personal Data The personal data received during the licensing procedure shall be disclosed to persons who need to know it, the employees of Latvijas Banka, the employees of the European Banking Authority, the members of the Joint Supervisory Team, or other ECB employees who need it for the performance of the duties, including the Secretariat of the Supervisory Board of the ECB and members of the Supervisory Board and also the members of the Executive Board of the ECB. Applicable Data Retention Period The ECB shall retain the personal data provided in applications or notifications on qualifying holding for 15 years from the date of submitting the application or notification if it is withdrawn prior to taking a formal decision, from the date of the negative decision, or from the date when the data subjects cease to be shareholders with qualifying holding or are no longer the senior management of the supervised entity in case of a positive ECB decision. Latvijas Banka shall retain the personal data for 10 years from the date on which the person has lost the status. If an administrative case is initiated or legal proceedings are instituted, the retention period shall be extended, and it shall end one year after entry into effect of the final decision imposing sanctions. Applicable Data Protection Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC, shall apply to the processing of personal data carried out by the ECB. However, the ECB and Latvijas Banka shall act as joint controllers whenever they collaboratively determine the purpose and means of data processing while carrying out the prudential supervision tasks conferred on them under the SSM Regulation and the SSM Framework Regulation. Rights of the Data Subject A data subject whose personal data is processed by the ECB and Latvijas Banka for the purposes of the abovementioned prudential supervision have the right to access and rectify their data in accordance with Decision (EU) 2020/655 of the European Central Bank of 5 May 2020 adopting implementing rules concerning data protection at the European Central Bank and repealing Decision ECB/2007/1. Contact Details If you have any questions or complaints regarding the data processing process, you may contact the ECB (e-mail: authorisation@ecb.europa.eu) or Latvijas Banka (e-mail: datuaizsardziba@bank.lv). Moreover, you are entitled to have recourse at any time to the European Data Protection Supervisor (https://edps.europa.eu/data-protection/our-role-supervisor/personal-data- breach_en). Acknowledgement I hereby confirm that I am informed of the processing of personal data pertaining to me as a natural person, including sensitive personal data, submitted to Latvijas Banka within the licensing procedure, including the transfer and processing of this data by the ECB for the performance of its functions. Given name, surname Signature Place, date Governor of Latvijas Banka M. Kazāks
Annex 2 Information to be Provided to Obtain a Licence (Authorisation) for the Operation of a Branch of a Foreign Credit Institution
I. Financial services authorised for a foreign credit institution and a branch of a foreign credit institution
II. Financial information
III. Information on the operational programme, organisational structure, internal control system, and the auditor
IV. Initial capital of the branch of the foreign credit institution
V. Management of the branch of the foreign credit institution
VI. Shareholders and stockholders of a foreign credit institution with qualifying holding or significant influence
VII. 20 largest shareholders or stockholders of a foreign credit institution
Governor of Latvijas Banka M. Kazāks
Annex 3 Acknowledgement of Having Become Acquainted with the Procedures for Personal Data ProcessingCredit institutions established in the participating Member States have the right of establishment and to provide services within the territory of another participating or non-participating Member State. Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (hereinafter - the SSM Regulation), having regard to Article 127(6) of the Treaty on the Functioning of the European Union, provides for conferring specific tasks on the European Central Bank (hereinafter - the ECB) concerning policies relating to prudential supervision of credit institutions. For the purposes of prudential supervision, within the scope of Article 6 of the SSM Regulation, tasks in relation to the credit institutions established in the participating Member States referred to in Article 4 of the SSM Regulation are conferred on the ECB. In accordance with Article 4(1)(b) of the SSM Regulation, the ECB is entitled to carry out tasks which are carried out by the competent authority of the home Member State (hereinafter - Latvijas Banka) in accordance with the relevant legal acts of the Union in relation to credit institutions which have been established in a participating Member State and which wish to open a branch in a non-participating Member State. The powers of the home Member State in relation to the right of the credit institution to conduct business are set out in Article 35 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, and they also include the conformity assessment of the administrative structure. In this regard, the supervised entity shall provide information on the persons responsible for the management of the branch. The procedures to be followed by the national competent institutions and the ECB in relation to the right of the significant supervised entities to establishment in non-participating Member States are outlined in Article 17(1) of Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (hereinafter - the SSM Framework Regulation). In accordance with Article 17(1) of the SSM Regulation, the procedures laid down in the relevant legal acts of the Union for participating Member States in relation to credit institutions wishing to establish a branch in the territory of another Member State and the competence of the related home and host Member State shall only apply to the tasks not conferred on the ECB by Article 4 of the SSM Regulation. The procedures followed by Latvijas Banka and the ECB in relation to the right of the significant supervised entities to establishment in the territory of another participating Member State are outlined in Article 11(1) and (3) of the SSM Framework Regulation. In conformity the abovementioned requirements, the ECB shall be provided with the information submitted to Latvijas Banka by the significant supervised entities in accordance with the requirements laid down in Article 35(2) of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, determining that the significant supervised entity shall provide information on the persons responsible for the management of the branch. Transfer of Personal Data All requested personal data shall be necessary to assess the suitability of such persons who have been proposed to assume the responsibility for the management and principal functions of the branch of the significant supervised entity established in the territory of a participating or non-participating Member State. If the data is not submitted, the application shall be rejected on the grounds of incomplete information. Recipients or Groups of Recipients of Personal Data Personal data provided in relation to the rights of the significant supervised entities to establishment in the territory of another participating or non-participating Member State are disclosed to the persons who need to know it, the employees of Latvijas Banka, the members of the Joint Supervisory Teams or other ECB employees who require it for the performance of their duties, including the Secretariat of the Supervisory Board of the ECB and the members of the Supervisory Board and also the members of the Executive Board of the ECB. Applicable Data Retention Period The ECB shall retain the personal data provided in applications or notifications on the right of establishment in the territory of a participating or non-participating Member State for 15 years from the date of submitting the application or notification if it is withdrawn before a formal decision is taken, from the date of taking a negative decision, or from the date when the data subjects cease to be shareholders with qualifying holding or are no longer the senior management of the supervised entity in the case of a positive ECB decision. Latvijas Banka shall retain the abovementioned personal data for 10 years after the person has lost the status. If an administrative case is initiated or legal proceedings are instituted, the retention period shall be extended, and it shall end one year after entry into effect of the final decision imposing sanctions. Applicable Data Protection Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC, shall apply to the processing of personal data carried out by the ECB. However, the ECB and Latvijas Banka shall act as joint controllers whenever they collaboratively determine the purpose and means of data processing while carrying out the prudential supervision tasks conferred on them under the SSM Regulation and the SSM Framework Regulation. Rights of Data Subjects A data subject whose personal data is processed by the ECB and Latvijas Banka for the purposes of the abovementioned prudential supervision have the right to access and rectify their data in accordance with Decision (EU) 2020/655 of the European Central Bank of 5 May 2020 adopting implementing rules concerning data protection at the European Central Bank and repealing Decision ECB/2007/1. Contact Details If you have any questions or complaints regarding the data processing process, you can contact the ECB (e-mail: authorisation@ecb.europa.eu) or Latvijas Banka (e-mail: datuaizsardziba@bank.lv). Moreover, you are entitled to have recourse at any time to the European Data Protection Supervisor (https://edps.europa.eu/data-protection/our-role-supervisor/personal-data- breach_en). Acknowledgement I hereby acknowledge that am informed of the processing of the personal data pertaining to me as a natural person, including sensitive personal data, that are submitted to Latvijas Banka within the scope of the procedure related to the right of the significant supervised entities to conduct business in the territory of other Member States, including the transfer and processing of such data by the ECB for the performance of its functions. Given name, surname Signature Place, date Governor of Latvijas Banka M. Kazāks
Annex 4 Notification on Opening a Representative Office of a Foreign Credit Institution or a Credit Institution of a Member State
Date
Governor of Latvijas Banka M. Kazāks
Annex 5 Information on Close Links31 December 20____ Name of the credit institution ________________________________________ Code of the credit institution ________________________________________
Governor of Latvijas Banka M. Kazāks
Annex 6 Branches, Representative Offices, Other Structural Units of a Credit Institution and the Provision of Financial Services in a Member State Without Opening a Branch31 December 20____ Name of the credit institution ________________________________________ Code of the credit institution ________________________________________
Governor of Latvijas Banka M. Kazāks Translation © 2025 Valsts valodas centrs (State Language Centre) |
Document information
Title: Kredītiestāžu licencēšanas, atsevišķu atļauju izsniegšanas un informācijas sniegšanas noteikumi
Status:
In force
Language:   Related documents
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