On 1 January 2011, amendments were introduced to the Deposit Guarantee Law of the Republic of Latvia. The amendments state that the maximum amount of the guaranteed compensation to depositors shall be increased from EUR 50,000 to EUR 100,000. The guaranteed compensation shall be paid to depositors of banks, credit unions, foreign and European Union member-states’ branches registered in Latvia in cases and manner described in the Deposit Guarantee Law.

Baltikums Bank advises reading the entire text of the law. 

 

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