Overview of Estonian Banking for ILO

Introduction According to the Central Bank of Estonia, the Financial Supervision Authority (FSA) and the Banking Association, in October 2011 the total asset […] Read more »

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Shares as collateral: a question of value

Background Banks’ lending business is usually strongly linked to collateral established to secure counterparties’ obligations. Recent volatility in the economic […] Read more »

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Amendments provide legal framework for remuneration of bankers

Remuneration policies in the banking sector have been subject to criticism, as bonus-driven principles encourage the taking of high short-term […] Read more »

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Changes for lenders in debt restructuring and protection

One topic under discussion at most banks operating in Estonia is the new Debt Restructuring and Debt Protection Act, which entered […] Read more »

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Amendments for financial collateral arrangements regulation

Partner Priit Pahapill contributed an article to Corporate Rescue and Insolvency. The aforementioned publication is an authoritative, well-researched and incisive […] Read more »

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Additional safety net for Estonian financial system

Partner Priit Pahapill contributed an article to Banking Newsletter of the International Law Office Read more »

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Significant Amendments Planned for Regulation of Financial Collateral

The Ministry of Finance has prepared a draft act, which would significantly change the regulations on financial collateral (1). According […] Read more »

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New Guideline to clarify Roles of Collateral agents and Underwriters

Requirements upon Rendering Investment Services and Non-Core Services, setting new rules for credit institutions (including banks) that provide collateral agent services as well as act as underwriters. Read more »

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Partner Priit Pahapill: Amendments to Banking Auditing regulations

On 8 March 2010 the new Estonian Auditing Act entered into force, introducing amendments not only to the auditing industry, but also to the financial sector, including amendments to the Credit Institutions Act. Read more »

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Improved Regulation in Estonia for Payment Services

While the Estonian economy may be considered as cashless – approximately 3.2% of payments are made in cash and the total amount of cash in monetary circulation equals 4.7% of the gross domestic product (compared to an average of 6% in the European Union) (1) – people need alternative ways to reimburse a colleague for buying them lunch or to pay an invoice received from an Internet service provider. Read more »

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