From April 1, the Bank of Latvia will take over the payment of compensation – where it is still appropriate years after the banks in question folded – from Citadele banka, which is currently responsible for such payments.
“The Bank of Latvia has received a request from AS “Citadele banka” to take over this process, and on March 17, the Council of the Bank of Latvia made a decision to take over the practical payment of compensation,” LB said.
Details of the application process for former depositors is available at the LB website here.
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