Banks, Financial Services, Latvia, Legislation, Lithuania

Financial and Capital Market Commission's head Irena Krumane and her deputy Janis Brazovskis claim that the Lithuanian minister's accusations are unfounded, because it was ensured already on November 16 that no business activity at Krajbanka could take place without the commission's permission, as the commission's spokeswoman Anna Dravniece told Nozare.lv.

Brazovskis also notes that the Lithuanian central bank has not been able to maintain proper control over the Lithuanian bank Snoras since this past October, writes LETA.

Simonyte said earlier today that Latvia's delay to halt the operations of Krajbanka had affected stability of both Krajbanka and Snoras.

Latvia was informed about the Lithuanian central bank's decisions regarding Snoras already last Wednesday, November 16, yet Krajbanka operations were only limited on Thursday, and all the other sanctions followed later yet. During this time, certain operations may have taken place at Krajbanka, which definitely did not contribute to the stability of this bank or Snoras, said Simonyte.