To simplify and improve exchange of information between banks, to improve operations of the banks, and to make the processing of customer loan applications faster, that is an advantage for customers, under the initiative of the Bank of Latvia the Register of Debtors has been created, which is regulated by the Rules on the Register of Debtors approved by decision of the council of the Bank of Latvia No. 99/4.

We inform you that, according to these rules, all banks registered in the Republic of Latvia, including JSC Akciju komercbanka Baltikums, and branches of foreign banks should provide information to the Register of Debtors about customers–borrowers who default their payments on loans for more than 60 days if the amount in default exceeds 100 lats, as well as about customers who violate provisions of the clause 73 of the Law on Credit Institutions or other significant provisions of loan agreements. The clause 73 establishes that a customer is obliged to provide complete and true information on his financial condition, assets owned, asset pledges, and other information so that the credit institution can determine if the customer is related to the credit institution or creates a group of interrelated customers with other customers of the institution.

The Bank has a right to request data from the Register of Debtors about its borrowers, about the persons related to borrowers, and about persons who submit loan applications or act as loan guarantors.

Any private or legal person can receive information about itself included in the register at the Bank of Latvia on Bezdeligu iela 3, Riga, LV-1084, Latvia.