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ECB takes over supervision of Latvian bank that accused governor

Published 03/11/2019, 12:27 PM
Updated 03/11/2019, 12:30 PM
© Reuters. Sign of the European central Bank (ECB) is seen ahead of the news conference on the outcome of the Governing Council meeting, outside the ECB headquarters in Frankfurt

FRANKFURT (Reuters) - The European Central Bank will take over the supervision of Latvia's PNB Banks, a small lender that brought a bribery case against the country's central bank governor, Ilmars Rimsevics, the ICB said on Monday.

© Reuters. Sign of the European central Bank (ECB) is seen ahead of the news conference on the outcome of the Governing Council meeting, outside the ECB headquarters in Frankfurt

"The European Central Bank...will assume its direct supervision as of 4 April 2019," the ECB said. "This follows a request made by the Latvian Financial and Capital Market Commission."

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