Structural improvements continued at Latvijas Banka in 2021.

To implement one of Latvijas Banka's strategic priorities, i.e. enhancement of the build-up of analytical and research capacity and its focus on the analysis of the processes taking place in Latvia, the Monetary Policy Department experienced structural changes in early 2021. They were aimed at using the current research resources more efficiently by separating research functionally from econometric support for forecasting and model maintenance, as well as at commencing the creation of the euro area DSGE model. The Monetary Research and Forecasting Division was renamed the Research Division as of 1 January 2021, thus reflecting its function of research into all economic sectors more precisely.

In early 2021, the Council of Latvijas Banka approved the changes in the organisational structure of the Cash Department as of 1 March 2021. Thus, the strategic and operational functions were separated from technical and other support functions by integrating the Coin Division into the Cash

Operations Division and renaming it respectively the Cash Policy and Operations Division. At the same time, the Cash Department retained its name.

As of 1 June 2021, the Data Engineering Division was established within the Information Technology Department. This division provides targeted technological support to the field of data analysis through creating and developing the necessary infrastructure (the data lake, shared data management, automation and analytical tools, etc.) and support to data analysts and other users.

Furthering the development of the Security Department's work organisa- tion, the Council of Latvijas Banka approved the structural changes and optimisation of the Security Department's staff numbers as of 1 December 2021.

Latvijas Banka's structure at the end of 2021