Add Papers Marked0
Paper checked off!

Marked works


Viewed works

Shopping Cart0
Paper added to shopping cart!

Shopping Cart

Register Now

internet library library
0,99 € Add to cart
Add to Wish List
Want cheaper?
ID number:866893
Published: 06.01.2004.
Language: English
Level: College/University
Literature: n/a
References: Not used

September 3, 1991, the Bank of Latvia became a central bank with the right to issue the national currency. On March 4, 1992, the law of taking over the rights of the Bank of Latvia was adopted. The status of Bank of Latvia was again reinforced in May 19, 1992. For the first time, the independence of the central bank from the government‘s policy was ensured by legislation. In the spring of 1995, Latvia experienced the largest banking crisis of any country of the former Soviet Union. The total banking system lost about 40% of its assets and liabilities, plus depositors were estimated to have lost almost $800 million in savings. The crisis reached maximum when Bank Baltija (by far the largest bank in the country) was forced to suspend its operations. Banks failed because of transition uncertainties, doubtful bank activities and stabilization fallout. Consolidation started after the crisis, when some Latvian banks turned to Western partners.…

Author's comment
Load more similar papers


Choose Authorization Method

Email & Password

Email & Password

Wrong e-mail adress or password!
Log In

Forgot your password?


Not registered yet?

Register and redeem free papers!

To receive free papers from it is necessary to register. It's quick and will only take a few seconds.

If you have already registered, simply to access the free content.

Cancel Register