National Lending And Servicing Arrangements

Original Language Title: Valsts aizdevumu izsniegšanas un apkalpošanas kārtība

Read the untranslated law here: https://www.vestnesis.lv/ta/id/159174

Cabinet of Ministers Regulations No. 395 Riga, 19 June 2007 (pr. No 36 16) public lending and service order Issued in accordance with the law on budget and financial management article 36 the fourth part i. General provisions 1 the national lending and servicing procedures. II. Public lending procedures and loan conditions change 2. Government loan the municipality Treasury shall be issued in accordance with the municipal loan and guarantee control and monitoring the minutes of the Council's statement. 3. the financial stabilisation loan of Treasury shall be issued in accordance with the order of the Minister of finance to grant a loan of the municipality. 4. the terms of the loan, Treasury coordinated with the local government. 5. Minister of finance authorizes the Treasury to contract for public lending and servicing. 6. Loan terms can be changed based on local government borrowing and guarantee control and monitoring the minutes of the Council statement or the Minister of finance order. 7. on the basis of the mandate of the Minister of Finance within fifteen working days after the local government borrowing and guarantee the control and monitoring of the Council the statement of the Protocol or the Minister of finance order reception Treasury authorities closed an agreement on changes in the loan agreement. III. procedure for the issue of loans to the country's national budget and the special sub "student and study loans and lending conditions" the performers change 8. for State loans, the national specific budget or the sub-programmes "student and study loans" performer for the year to 30 December 2004 submitted to the Treasury loan request. The request specifies the purpose of the loan, the loan amount and the currency, the loan interest rates applicable to type (fixed, variable), the scheduled loan repayment period and schedule. 9. The Treasury under the conditions of the loan agreement with the national budget or special sub "student and study loans" artist. 10. Minister of finance authorizes the Treasury to contract for public lending and servicing. 11. To change the conditions of the loan, the State budget or a special subprogramme "student and student lending," the artist presented the Treasury: 11.1. application, which contains the terms of the loan and its changing economic justification;
11.2. clarify the schedule for repayment of the loan if the loan agreement changes associated with changes of cue repayment schedule;
11.3. the opinion of the Ministry of industry of loan conditions change the need and usefulness. 12. The State Treasury within ten working days evaluate these rules referred to in paragraph 11 of the document and give an opinion. Documents together with the opinion submitted by the Finance Ministers for a decision. 13. If the Minister of Finance shall decide to refuse the terms of the loan, the State Treasury within ten working days after receipt of the decision of the Minister of Finance on the written notice to the State budget or a special subprogramme "student and study loans" artist, indicating the reason for the refusal. 14. If the Minister of Finance shall decide on the terms of the loan, the Treasury, based on the mandate of the Minister of Finance within 15 working days after receipt of the decision of the Minister of finance in agreement with the switch State special budget or the sub-programmes "student and student lending," the artist about the changes in the loan agreement. IV. National procedure for the issue of loans to budget-funded institutions, corporations, associations or foundations and lending conditions change 15. budget funded institution, Corporation, association or Foundation no later than 15 October of the current year shall be submitted to the Treasury documents for receiving the federal loans. If by that date the national budget for the current year in the law is amended, which provides for a new Government loan, the documents submitted after the date of entry into force of the law, but no later than 1 December of the current year. 16. in order to receive the loan budget funded institution, Corporation, association or Foundation shall submit to the Treasury: 16.1. loan demand. The request specifies the purpose of the loan, or project name, amount and currency of the loan rates of interest applicable type (fixed or variable), the scheduled loan repayment period and schedule;
16.2. sworn auditors or State control check over previous year view;
16.3. the project's business plan, which planned to use for the implementation of the loan;
16.4. information about expected loan collateral (the property rights supporting documents and property evaluation);
16.5. the budget funded institutions, corporations, associations or foundations statutes, Charter or equivalent document supporting its operations a copy and a copy of the registration certificate, showing that the original documents;
16.6. sworn auditor's opinion on the repayment of the loan;
10.4. Ministry of industry opinion on the economic importance of the project and information on Ministry of industry policy in support of the implementation of the project. 17. The Treasury 10 working days evaluate these rules referred to in paragraph 16 and other records or information obtained from other government-funded bodies. 18. If needed, the Treasury requests additional documents or information that is related to budget-funded institutions, corporations, associations or foundations of economic or financial activity and may affect the repayment of the loan. These documents or information budget funded institution, Corporation, association or Foundation submits the 20 working days of receipt of the request. 19. Treasury evaluated these rules 17 and 18 documents listed and give an opinion. Documents together with the opinion submitted by the Finance Ministers for a decision. 20. If the Minister of Finance shall decide to refuse the granting of loans, the State Treasury within 10 working days of the receipt of the decision of the Minister of finance in writing notify budget funded institution, Corporation, association or Foundation, indicating the reason for the refusal. 21. If the Minister of Finance shall decide on the allocation of State loans, the Treasury under the terms of the loans financed by the budget authority, a corporation, association or Foundation. 22. Minister of finance authorizes the Treasury to contract for public lending and servicing, as well as loan collateral. 23. To change the conditions of the loan, financed by the budget authority, a corporation, association or Foundation shall submit to the Treasury: 23.1. application, which contains the terms of the loan and its changing economic justification;
23.2. clarify the schedule for repayment of the loan if the loan agreement changes associated with changes of cue repayment schedule;
23.3. updated business plan;
23.4. sworn auditor's opinion about the budget-funded institutions, corporations, associations or Foundation's financial situation and repayment of the loan facilities;
14.6. the balance sheet, the profit and loss statement, a statement of tax debts;
14.7. If the expected changes in the collateral, shall provide information on the expected loan collateral (the property rights supporting documents and property evaluation);
23.7. the opinion of the Ministry of industry of loan conditions change the need and usefulness. 24. The Treasury 10 working days evaluate these rules referred to in paragraph 23 and other records or information related to budget-funded institutions, corporations, associations or foundations of economic or financial activity and may affect the repayment of the loan. If necessary, the Treasury requests additional documents. They are financed by the budget authority, a corporation, association or Foundation will be submitted within 20 working days of receipt of the request. 25. The Treasury examined this provision in paragraph 24 above and give an opinion. Documents together with the opinion submitted by the Finance Ministers for a decision. 26. If the Minister of Finance shall decide to refuse the terms of the loan, the State Treasury within 10 working days of the receipt of the decision of the Minister of finance in writing notify budget funded institution, Corporation, association or Foundation, indicating the reason for the refusal. 27. If the Minister of Finance shall decide on the terms of the loan, the Treasury, based on the mandate of the Minister of finance, concluded an agreement on changes in the loan agreement and, if the changes are security, making amendments to the contract or security switch new loan collateral agreement with budget funded institution, Corporation, association or Foundation. V. interest loan and loan interest determination of risk 28. Granted, but not yet repaid government loans, the national specific budget performer, sub "student and study loans" performer, budget funded institution, Corporation, association or Foundation paid the loan interest rate of the loan laid down in the Treaty. The Minister of Finance shall determine the loan interest rate, by one of the following methods:

28.1. loans in national currency fixed and variable interest rates are determined based on domestic borrowing securities in the term yield rates that determine the initial placement of securities. If, within three months from the date the loan agreement are not held in due course, the issuance of loan rate applied shall be based on the Treasury to free the Latvian financial market participants for indicative quotations;
28.2. loans in foreign currency fixed and variable interest rate determined in accordance with the Treasury such resource acquisition cost real level, if the Treasury borrowing rates down over the past three months to loan contracts, or possible levels, based on the Treasury to free the international financial market participants for indicative quotations;
28.3. loans in national currency rate determines the period corresponding to domestic borrowing securities to the original maturity. For each following period lending rate determined by the last preceding working day period based on the same original maturity of domestic debt securities the yield rate or indicative quotation rate established in accordance with this rule 28.1. the method referred to in (a);
28.4. loans in foreign currency in a fixed interest rate for the entire term of the loan is determined according to the same term Treasury real or possible fixed rate borrowing rate. Variable interest rate loans in foreign currency shall be determined for each rate period according to the filing to the Treasury the real or possible variable rate loan interest rate fixation conditions. 29. The Treasury loans in the national and foreign currency in current interest rates published the Treasury website on the internet one day after the country's domestic debt securities settlement date or indicative quotation fixing. 30. The loan agreement for the duration of the budget funded institution, Corporation, association or Foundation pays interest on the loan risk. Rate of up to 2.5% of the loan balance is determined by the Minister of finance by the loan documents required to perform the evaluation, taking into account the following criteria: 30.1. budget funded institutions, corporations, associations or Foundation property form and legal status;
30.2.;
30.3. the profitability of assets;
18.9. the project risk;
5. the provision of credit;
19.0. liquidity. 31. The loan contract period for granted, but outstanding loans financed by the budget of the municipality, authority, Corporation, association or Foundation pays a service charge in accordance with the statutory fees treasury services price list. 32. the Risk of interest rate and the amount of the service charge included in the loan agreement. Vi. National loan servicing arrangements 33. Up to full use of the loan budget funded institution, Corporation, association or Foundation annually until June 1 to submit Treasury certified auditor's opinion on the use of the loan under the loan purpose. 34. Each year, before 1 June of the loan contract period budget funded institution, Corporation, association or Foundation submitted a sworn auditor in the Treasury or national control check in the previous annual report. 35. Until full repayment of the loan budget funded institution, Corporation, association or Foundation within 15 working days of the current calendar quarter end submit the Treasury balance sheet or profit and loss statement. 36. The Treasury: 36.1. cost State loans in accordance with the contracts concluded according to law the national budget for the current year set around;
36.2. prepare and send invoices to the municipalities, the State special budget performer, sub "student and study loans" performers and budget-funded institutions, corporations, associations or foundations for carrying out the obligations under the contracts concluded;
36.3. within 10 working days of the current calendar quarter shall inform the authorities of the country in a special budget, the performers Sub "student and study loans" artists, budget-funded institutions, corporations, associations or foundations on loan interest rate changes;
36.4. monitoring the local, country specific budget performer, sub "student and study loans" performers, financed by the budget of the institution, a corporation, association or Foundation loan commitments;
22.7. analyse this provision 33., 34 and 35 points in those documents, to keep track of budget-financed institutions, corporations, associations or Foundation's financial situation and determine the likelihood of repayment of the loan;
22.7. keep in closed loan and collateral agreements and sort loan and security agreement records;
22.8. sort the loan financial records recording of all liabilities and comparing data with local governments, the State special budget performer, sub "student and study loans" performers, budget-funded institutions, corporations, associations or foundations, as well as the national budget settlement. 37. The Treasury is right: 37.1. organize auditorpārbaud, if, in assessing this rule 33, 34 and 35 the documents listed, have not gained confidence about the budget-funded institutions, corporations, associations or foundation of the true economic and financial standing;
23.1. to request the institutions financed from the budget, a corporation, association or Foundation loan instant and full GUI in reimbursement if: it has not made any 37.2.1. payment under the loan agreement concluded or made them part;
37.2.2. following this rule 37.1. auditorpārbaud received referred to negative audit opinion on budget-funded institutions, corporations, associations or Foundation's financial position. Prime Minister a. Halloween Finance Minister o. Spurdziņš