The head of Latvia's central bank, who is also on the board of the European Central Bank (ECB), will face prosecution for bribery.
Ilmars Rimsevics, who denies all wrongdoing, has been suspected of taking bribes since February.
The Associated Press has reported one banker's tale of being asked repeatedly by Rimsevics for bribes, with other allegations concerning Russian money laundering.
Because Rimesvics is on the ECB's top policymaking board, the case has gained international significance.
The ECB had asked the European Court of Justice to rule on whether Rimsevics should be allowed to continue in his job while not charged with a crime.
Latvian prosecutors on Thursday also charged another individual, left unnamed, with supporting bribe-taking.