Bank of Latvia Bank of Latvia The Bank of Latvia () is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law. It was established in 1922. The principal objective of the Bank of Latvia is to regulate currency in circulation by implementing monetary policy to maintain price stability in Latvia. Until 31 December 2013, the bank was responsible for issuing the former Latvian currency, the Lats. The Bank of Latvia administration is located in Riga. The fiscal year for the bank begins on 1 January and ends on 31 December.
Museum of the Occupation of Latvia after Paulis Lazda, a History Professor at the University of Wisconsin–Eau Claire, proposed the idea to the Ministry of Culture of the Republic of Latvia to create a museum covering the occupation period of Latvia, from 1940-1991. This led to the establishment of the Occupation Museum Foundation (OMF), now the Occupation Museum Association (OMB), in spring 1993. The OMF was made of 11 people who aimed to establish, administer and finance the museum. The first exhibition of the museum opened on 1 July 1993. The exhibition covered the period of the first Soviet occupation of Latvia from 1940 to 1941.