ECB to supervise bank that accused Latvian governor of corruption

Ilmars Rimsevics
Bank of Latvia governor Ilmārs Rimšēvičs
Ernests Dinka, Saeimas Kanceleja

The European Central Bank will take over the direct supervision of a Latvian-based bank that accused the country’s central bank governor of corruption, it announced.

The ECB said in a brief statement on March 11 that it has taken over PNB Banka’s supervision at the request of the Latvian regulatory authorities. The Financial and Capital Market Commission, or FKTK, said that it had made the request as PNB Banka is taking legal action against the country’s authorities. The bank is alleging

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