Read the untranslated law here: https://www.vestnesis.lv/ta/id/157677
The Bank of Latvia Regulation No 4 in Riga on May 17, 2007. Transaction interest rates are Issued in accordance with the law "on banking" article 26, first paragraph 1. determines the interest rates for the transaction.
2. the Bank's refinancing rate is 6.00% per year.
3. the Deposit on the Bank interest rate is 2.00% a year.
4. Loan on the Bank interest rate is 7.50% per year.
5. the Bank the interest shall be calculated on the assumption that the year has 360 days.
Closing questions 6. Be declared unenforceable by the Bank of Latvia Council of 15 March 2007 Regulation No 1 "Business rates" (Latvian journal, 2007, no. 48).
7. the rules shall enter into force on 18 May 2007.
The President of the Bank of Latvia is Rimšēvič.
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