RIGA - Rising levels of non-residential deposits within the Latvian banking system are credit negative, Moody’s Investors Service warns in a comment published on May 2. The agency says that the negative pressure arises from the fact that deposits are the main funding source for Latvian banks, particularly for banks that lack parental funding; and the rating agency’s view that non-resident deposits (currently 49 percent of total deposits at the end of 2012) are inherently less stable than their resident counterparts.Non-resident business is driven by events in both the ho...
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