Cabinet of Ministers Regulations No. 229 in Riga 2014 (April 29. No 25 9 §) rules on fiscal risk and general management of the fiscal reserves in fixing the amount of the security methodology Issued in accordance with the fiscal discipline the third subparagraph of article likuma16 and article 17 third-part I. General questions 1. determines the order in which the implementation of fiscal risk management in General, as well as fiscal support for fixing the amount of the reserve methodology. 2. the terms used in the rules: 2.1 specific fiscal risk – fiscal risks associated with a specific implementation of the function of public administration, natural or social process; 2.2. individual fiscal risk – fiscal risks associated with public administration functions, natural or social process of individual cases; 2.3. the fiscal risk event – with the fiscal risks associated with possible future event occurs; 2.4. the fiscal impact of the risk – the risk of fiscal developments in monetary terms caused by deviation from the obligations expressed or set of indicators the indicators planned values; 2.5. the fiscal risk fiscal impact – in the event of fiscal risk induced in money terms are expressed in deviation from one or more of the fiscal discipline of article 16 of the law referred to in the first subparagraph, the planned fiscal values; 2.6. the fiscal risk of fiscal impact on the General Government budget balance – fiscal slippage in values caused by the General Government budget balance deviation from expected values values, expressed as a percentage of gross domestic product; 2.7. the fiscal risk source-fiscal risks provoking the kind of commitment. II. the fiscal risk management responsibility by participating institutions and functions 3. The Ministry of finance is responsible for the overall fiscal risk management. The overall fiscal risk management includes the following functions: 3.1 fiscal risk register (annex 1 of these rules) regular update that includes new fiscal risk identification, risk of identified fiscal impact of fiscal and regular assessment of the likelihood of accession in accordance with this rule 17 and 18 and not actual fiscal risk exclusion from the fiscal risk register; 3.2. specific fiscal risk management process monitoring and methodological support, as well as the development of the guidelines, the proposal for the provision of central public authorities specific fiscal risk management process development; 3.3. the proposal for the provision of central public authorities for the additional measures of fiscal risk management; 3.4. the fiscal reserves of the determination of the amount of the security; 3.5. the fiscal risk of the development of the Declaration. 4. The Ministry of finance is responsible for the fiscal risks arising from processes that are not associated with any other central public authorities. 5. the central authorities responsible for the fiscal management of specific risks related to the functions of public administration in the central public authorities and institutions subordinated to them. Specific fiscal risk management includes the following functions: 5.1 specific fiscal risk management process and development; 5.2. specific fiscal risk impact assessment; 5.3. specific fiscal risk probability assessment of accession in accordance with the provisions of paragraph 17; 5.4. the accumulation of information on specific fiscal risk individual fiscal risks and fiscal risk events, to carry out the other provisions of this paragraph 5 functions and to prepare a fiscal risk management reports in accordance with the provisions of annex 2; 5.5. the separate fiscal risk management monitoring, as well as methodological support and provision of the proposal of institutions subordinated to the competence of the individual risk management development. 6. From the State budget and from the European Union's policy instruments and the other foreign financial aid and co-financed projects and measures financed by implementors, public-private partnership project implementers and the General Government sector in the national company responsible for the fiscal management of the individual risks associated with the project, event or business concerned (if any). Separate fiscal risk management includes the following functions: 6.1 a separate fiscal risk management process; 6.2. a separate fiscal risk impact assessment; 6.3. separate fiscal risk probability assessment of accession in accordance with the provisions of paragraph 17; 6.4. the accumulation of information on certain fiscal risk events to make the rest of the rules referred to in paragraph 6, functions and provide a central national authority the information necessary for the implementation of its functions. 7. to the central national authority to ensure this provision set out in paragraph 5, it is right to give tasks in the budget Department of the General national budget authorities. 8. the central authority of the country of fiscal risk management have the right to collaborate with the project promoters and the General Government sector in the constituent national companies under the other procedures laid down in the legislation. Central State authority which has competence in the national budget or foreign financial assistance or supervision measures, have the right to ask the budgetary authority, to implement the project or event from the State budget or from the policy instruments of the European Union and other foreign financial aid funds, to develop and to the relevant central national authority in line with the project or related individual measures of fiscal risk management procedures, as well as to request information on certain fiscal risk management procedures and fiscal risks in individual events. 9. Central State authority, which supervises the public-private partnership projects, have the right to include a public and private partnership agreement, which instructs public-private partnership for the development and implementation of the project with the relevant central national authority of the project related to the separate fiscal risk management procedures, as well as to request information on certain fiscal risk management procedures and fiscal risks in individual events. 10. Central State authority, which is part of the capital of the country, the holder shall have the right to their members through ask the General Government sector in the national company to develop and approve the individual meeting participants fiscal risk management procedures, as well as to request information on certain fiscal risk management procedures and separate fiscal risk events. 11. the central national authority uses these rules 8, 9 and 10, the rights referred to in paragraph as much as necessary to the central national authority to carry out this provision set out in paragraph 5, taking into account existing and other legislation in certain fiscal risk management procedures. III. Procedure for the exchange of information between the Finance Ministry and fiscal risk management institutions involved in Central State 12 authority of a fiscal risk management each year before 15 February, prepare a fiscal risk management report on matters within its competence, the fiscal risks in accordance with the provisions of annex 2, and electronic documents in the procedure prescribed by law shall be submitted to the Finance Ministry. Fiscal risk management report includes information about risks in the three fiscal years following the fiscal risk management report in the year. 13. The Ministry of Finance within three weeks of the appearance of fiscal risk management reports, if necessary, update the fiscal risk register and send each central State administration according to the specific competence of the fiscal risks updated the information in the register electronic. The information of the week. The Ministry of finance may request additional information and explanations about the fiscal risk management report, and the central national authority shall be submitted within the time limit fixed by the Ministry of finance, which may not be less than a week. 14. The Ministry of finance, the appearance of fiscal risk management report: 14.1 evaluate proposals fiscal risk exclusion and inclusion of fiscal risk fiscal risk register; 14.2. assess whether the existing measures of fiscal risk mitigation is sufficiently permanent fiscal risk acceptance; 14.3. If necessary, make their fiscal risk joining the probability and impact assessment; 14.4. If necessary, prepare a proposal for a central national authority on the subject of additional measures within the competence of the authority concerned, the existing specific fiscal risk management. 15. The Ministry of finance may propose to make changes to the central State authority existing fiscal risk register. If the Finance Ministry proposes to include a new fiscal risk or exclude existing fiscal risk, it shall draw up a proposal to be included in the fiscal risk of the registry information changes in accordance with the provisions of annex 1, and coordinate with the relevant central national authority of its fiscal competence the inclusion or exclusion of risk of fiscal risk register. 16. If the public authority does not agree with the proposal of the Ministry of finance, Ministry of finance regulations properly prepared informative message. This informative report for consideration and a final decision shall be taken by the Cabinet. IV. Fiscal risks joining the probability and the fiscal impact on the General Government budget balance evaluation 17. accession to the fiscal risk probability is assessed, taking into account the existing fiscal risk mitigation measures, but without taking into account the necessary in addition to fisk traditional risk mitigation measures. Fiscal risk joining the probability estimates the 5-point scale, taking into account whether the fiscal risk joining the probability is closer to 0 percent, 10 percent, 30 percent, 60 percent or 100 percent. Maybe a fiscal risk on its accession are assessed by 1 point, if the probability of membership is closer to 0 percent, with 2 points, if the probability of membership is closer to 10 percent, with 3 points, if the probability of carrying the bodies is closer to 30 percent, with 4 points if the accession on the structure is closer to maybe 60 percent, and by 5 points when joining the probability is closer to 100 percent. 18. The fiscal risk of fiscal impact on the General Government budget balance, if possible, be assessed qualitatively and, where possible, quantified as a percentage of gross domestic product, which is set in the annual State budget Act of the fiscal risk management report, subject to the following conditions: 18.1. the fiscal risk of fiscal impact on the qualitative assessment of the General Government budget balance out, assessing the fiscal impact as major, moderate or low. Significant fiscal impact is if the potential impact on the General Government budget balance exceeds 0.5% of the gross domestic product. Average fiscal impact is if the potential impact on the General Government budget balance in the range 0.01 to 0.5 percent of gross domestic product. Under the fiscal impact is if the potential impact on the General Government budget balance does not exceed 0.01 per cent of gross domestic product; 18.2. the fiscal risk of fiscal impact on quantitative evaluation of the General Government budget balance performs as a percentage of gross domestic product, provided that the assessment error does not exceed 0.01 percentage point fiscal risks with the fiscal impact of the low percentage of gross domestic product, 0.1, 0.1 percentage point fiscal risks with the fiscal effects range from 0.1 percent to 1 percent of gross domestic product, 1 percentage point fiscal risks with the fiscal impact of 1 percent of gross domestic product, and more. V. fiscal risk into the fiscal risk of Declaration 19. If the fiscal risk register included fiscal risks the fiscal impact on the General Government budget balance is assessed qualitatively, but quantitatively not rated, the Finance Ministry has the right to: 19.1. fiscal risk declaration to specify them as non-quantifiable fiscal risks; 19.2. zoom in to assess their fiscal impact on the General Government balance and the fiscal statement of the risk these fiscal risks specified as quantifiable fiscal risks. 20. Fiscal risk register included in the fiscal risks that the fiscal impact on the General Government budget balance is assessed in quantitative terms, the Ministry of finance, giving a reasoned Declaration of fiscal risk can be defined as a non quantifiable fiscal risks. Vi. Fiscal security reserve count methodology 21. Ministry of finance, in calculating the fiscal security margin, takes into account only the fiscal risks in the kvantificējamo Declaration of fiscal risks. 22. reserve for fiscal security amount calculated by summing all the quantifiable fiscal fiscal impact of risks, which are multiplied by the respective factors. Quantifiable fiscal risk fiscal impact as a percentage of gross domestic product, multiplied by a coefficient of 0.1, if joining the probability rated at 2 points, with a ratio of 0.3, when joining the probability estimated by 3 points, and a coefficient of 0.6, if joining the probability estimated by 4 points. In calculating the amount of the reserve for fiscal security, uses the following formula: Fiscal security margin = k2 · 1990s risks with the fiscal impact of the probability of 2 + k3 · 1990s risks with the fiscal impact of the probability of 3 + k4 · 1990s risks with probability 4 fiscal impact that k2-factor 0.1; K3-factor 0.3; k4-coefficient 0.6.23. Kvantificējamo fiscal risks that joining the probability rated at 5 points, included in the General Government budget balance projections as planned (predicted) events. 24. The Ministry of finance for individual fiscal risks can change the size of the coefficients provide a reasoned Declaration of fiscal risk. VII. Closing questions 25. Ministry of finance up to 2014 may 20 to fill in annex 1 of these rules "fiscal risk register" for information and sends it to the central public authorities. Central national authorities within four weeks of the fiscal risk of the appearance of the register and the register of the fiscal risks include information about the risks of a fiscal nature, which is located in the central State authority, and, if necessary, propose new fiscal risks into risk and fiscal competence. If the Finance Ministry and the central national authority has different opinions, the Ministry of finance to act in accordance with paragraph 16 of these terms. If the Central Government institutions have raised proposals and there is no divergence of views, the Ministry of Finance within a period of four weeks shall be incorporated in the proposal for the central authorities and a central public institutions complement the fiscal risk of the electronic register reconciliation. The register of those two weeks. 26. To 2015 30 April the central national authorities Ministry of finance fiscal risk management report on matters within its competence, the fiscal risks in accordance with the provisions of annex 2. Finance Ministry four weeks looking messages, update the fiscal risk register and sends it to the central public authorities electronically. The register of those two weeks. 27. The provisions of paragraphs 12 and 13 shall enter into force on January 1, 2016, unless the law on budget and financial management does not detect the other medium-term budgetary framework deadline of the Parliamentary Bill, which differs from that of article 16.2 of the Act in the tenth part of this period. If you determine other medium-term budgetary framework for the submission of the Bill to the Parliament, the timetable of fiscal risk management report development is included in the medium-term budgetary framework and the draft annual national budget bill and submit the schedule of development projects in accordance with the law on budget and financial management of the first paragraph of article 16.1. Prime Minister-Minister of traffic Anrij matīss Finance Minister Andris Vilks pielikumsMinistr-1 kabineta2014 29 aprīļanoteikum no 229 fiscal risk register risk the fiscal number trācij reg. fiscal source of risk in the risk apraksts1 Fiscal fiscal fiscal impact assessment and indicators that affect fiscal fiscal risk joining risks2 probability novērtējums3 current fiscal risk management description (currently existing fiscal risk mitigation measures, existing instruments risk recovery and other information that is useful for the fiscal risk assessment) in addition to the required action (measures) the fiscal risks in addition to the necessary action of fiscal risk consequences Of fiscal risk management the responsible central authority, other participating institutions Are described in 1 2 3 4 5 6 7 8 9 1 process, events, circumstances, factors that can lead to fiscal risk event. 2 fiscal impact assessment is carried out in accordance with the Cabinet of Ministers of 29 April 2014 no 229 of the provisions of the "rules on fiscal risk and general management of the fiscal reserves in fixing the amount of the security methodology" (hereinafter referred to as the rules) 18. Fiscal risk impact assessment must be carried out to three years following the fiscal risk management report in the year. This box must also provide detailed information and assumptions used for fiscal impact assessment. 3 the fiscal risk joining the probability assessment is carried out in accordance with the provisions of paragraph 17. Fiscal risk joining the probability assessment must be conducted three years after the fiscal risk management report in the year. Finance Minister Andris Vilks pielikumsMinistr-2. kabineta2014.29, aprīļanoteikum no 229 fiscal risk management report (I) the central authority of the country. information about previous fiscal period of risk events and impacts table 1 risk Fiscal registration number fiscal source of risk information on fiscal risk notikumu1 Sekas2 (II). information that the fiscal risks to restore the registry table 2 fiscal registration number of Fiscal risk risk risk fiscal sources apraksts3 the fiscal impact of the risk novērtējums4 Fiscal risk joining the probability novērtējums5 the current fiscal risk management description (currently existing fiscal risk mitigation measures, existing instruments risk consequences, and other information that is useful for the fiscal risk assessment) in addition to the required action (measures) the fiscal risks in addition to the necessary action of fiscal risk consequences Of fiscal risk management the responsible central authority, other participating institutions (iii) 1 2 3 4 5 6 7 8 9 of fiscal risk register be fiscal risks table 3 fiscal registration number should not risk the fiscal riski6 IV. Proposals for new Pamatojums7 fiscal risk for inclusion in the register of fiscal risk table 4 No. p. k. Fiscal source of risk in the risk apraksts8 Fiscal fiscal fiscal impact of risk novērtējums9 risk joining the probability novērtējums10 the current fiscal risk management description (currently existing fiscal risk mitigation measures, existing instruments risk consequences, and other information that is useful for the fiscal risk assessment) in addition to the required action (measures) the fiscal risks in addition to the necessary action of fiscal risk consequences Of fiscal risk management the responsible central authority other participating institutions V 1 2 3 4 5 6 7 8 9. Other informācija11 table 5 of document is signed with a secure electronic signature and time stamp CONTENTS v. 1 last name information is provided free-form and shall include at least: 1) the description of the event; 2) assessment of the circumstances, any event or process have led to the event; 3) proposals to further reduce the fiscal risk event occurrence. 2 indicate the type of impact (i.e., unplanned expenditure increases, revenue fall or loan) and extent of impacts in terms of money.
3 describes the process, events, circumstances, factors that can lead to fiscal risk event. 4 fiscal risk impact assessment is made in terms of money. Fiscal risk impact assessment must be carried out to three years following the fiscal risk management report in the year. This box must also provide detailed information and assumptions used in the assessment of the effects of the fiscal risks.
5 fiscal risk joining the probability assessment is carried out in accordance with the Cabinet of Ministers of 29 April 2014 no 229 of the provisions of the "rules on fiscal risk and general management of the fiscal reserves in fixing the amount of the security methodology" (hereinafter referred to as the rules) 17. Fiscal risk joining the probability assessment must be conducted three years after the fiscal risk management report in the year. 6 specify the fiscal risks that are to be excluded from fiscal risk register.
7 Give reasons why the fiscal risk is excluded from the fiscal risk register.
8 describes the process, events, circumstances, factors that can lead to fiscal risk event.
9 fiscal risk impact assessment in accordance with the rules is made in terms of money. Fiscal risk impact assessment must be carried out to three years following the fiscal risk management report in the year. This box must also provide detailed information and assumptions used for fiscal impact assessment. 10 fiscal risk joining the probability assessment is carried out in accordance with the provisions of paragraph 17. Fiscal risk joining the probability assessment must be conducted three years after the fiscal risk management report in the year. 11 indicates any fiscal risks associated with information that is not listed above and by the central national authority considers important.
 
Finance Minister Andris Vilks