Latvia cenbank says loaned 297 mln euros this week to lender ABLV

By Kitco News / February 23, 2018 / www.kitco.com / Article Link

RIGA, Feb 23 (Reuters) - The Latvian central bank said on Friday it had loaned 297.2 million euros ($365.62 million) in emergency assistance this week to troubled lender ABLV.

U.S. authorities have accused ABLV of engaging in large-scale money laundering for Russian clients, which the bank denies. Fearing U.S. sanctions, depositors have withdrawn around 600 million euros from the bank, forcing the European Central Bank to halt all payments to prevent a collapse of the lender.($1 = 0.8129 euros)


(Reporting by Gederts Gelzis; Editing by Gareth Jones)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok