Deposits GuaranteesThe Deposit Guarantee Law has been valid in Latvia since 1998. The law stipulates that in the event of the unavailability of deposits of natural and legal persons – clients of a credit institution (insolvency of a credit institution, revocation of a licence, statement of the fact of impossibility of reimbursing deposits) – payment of these deposits is guaranteed by the state within the framework of the state system of deposit protection.
Payments are made in the volume and within the terms anticipated by this law from the Deposit Guarantee Fund.
Basic information on the protection of deposits guaranteed by the state can be found here.
More detailed information on deposit protection can be found on the webpage of the Financial and Capital Market Commission, www.fktk.lv.