Head of Latvian Central Bank is detained for questioning

Latvian security service police car

Creating Common Information System for Country's Law Enforcement Agencies

Earlier, a meeting of the three parties in the ruling coalition also agreed in principle on establishing a limit of two five-year terms on any serving central bank governor. "I am not guilty".

"I made a decision not to step down because I am not guilty", he said.

Latvian anti-corruption officials said Monday their case is not related to recent USA allegations of fraud at Latvia's third largest bank. Guselnikov and Norvik CEO Oliver Bramwell have confirmed that official is Rimsevics. Then, new details as a $1.7 billion fraud at India's Punjab National Bank continues to unravel after the story came to light late last week.

Last week, the US Treasury Department proposed banning ABLV from the US financial system, saying it helped entities allegedly linked to North Korea's missile program process transactions - charges the lender denies. "Anyone can submit legal evidence or turn to the relevant authorities and inform them about violations, including payments or demands for bribes". The bank was then wound up.

Mr Rimsevics is also a member of the European Central Bank's governing council.

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In his interviews with the AP, Guselnikov had also claimed that his bank had been asked by Rimsevics' associate to launder $100 million from Russian Federation.

Rimsevics has worked at the Baltic nation's central bank since graduating with an MBA from Clarkson University in Potsdam, New York, in 1992.

Latvian Prime Minister Maris Kucinskis assured the country and Europe "there is no sign of danger", after anti-corruption police arrested the head of the Latvian central bank Saturday. It's investigating "an alleged solicitation and acceptance of a bribe" of at least 100,000 euros, it said in a statement.

Ilmars Rimševics was released on bail on Sunday.

As governor, Rimsevics enjoys robust independence. Rimsevics will be replaced by the deputy governor, Zoja Razmusa, for the duration of his detention.

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Finance Minister Dana Reizniece-Ozola said Rimsevics' detention would be explained Monday and called for him to step down to avoid damage to Latvia's credit position.

ABLV said in a statement on February 14 that the Treasury allegations were based on "assumptions".

While the lender denied the USA charges, the European Central Bank slapped a payment moratorium on the lender on Monday.

Only solvent institutions may receive emergency liquidity support and should the ECB determine that ABLV cannot meet its financial, liquidity and capital obligations, it could start proceedings that may lead to the bank being wound down.

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