RIGA - The Cabinet of Ministers on Tuesday supported in principle merging the Bank of Latvia with the Financial Capital and Market Commission (FCMC).
According to the government's decision, the two institutions will be merged either in 2022 or in 2023.
The Finance Ministry's report reviewed by the government today states that merging the FCMC with the Bank of Latvia will benefit the public. In the meantime, the risks identified must be dealt with through appropriate risk mitigation measures, including an appropriate division of duties, rights an...
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