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Cyprus News Agency: News in English, 09-06-11
CONTENTS
[01] LATVIAN FCMC - CENTRAL BANK
[01] LATVIAN FCMC - CENTRAL BANK
The Financial and Capital Market Commission (FCMC) of Latvia and the
Central Bank of Cyprus, expressing their mutual interest and
willingness in promoting further the bilateral ties in the domain of
supervision of credit institutions, have recently proceeded with the
updating of the Memorandum of Understanding which was signed between
them in 2003, before their accession into the European Union, in order
to integrate, in the Memorandum of Understanding, recent developments
in the field of banking supervision.
According to a press release, the updated Memorandum of Understanding
has been signed on behalf of the Central Bank of Cyprus by its Governor
Athanasios Orphanides, and on behalf of the FCMC, by its Chairwoman
Irena Krumane.
The Memorandum of Understanding defines a general framework of mutual
cooperation and exchange of information between the two supervisory
authorities, for the purpose of facilitating the performance of their
supervisory function as well as the effective supervision and
regulation of credit institutions with cross border presence, in
accordance with the respective national laws and regulations.
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