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Ministry of Justice

Republic of Moldova

On December 28, 2018 No. 1400

RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of December 20, 2018 No. 322

About approval of Regulations about bases of management of activities of banks

(The last edition from 25-04-2019)

This resolution is transposition of the Art. 76, of the item and) the Art. 79, of part (1) and the first paragraph, part (3), the Art. 83, of part (1) the Art. 85, of part (9) the Art. 86, of part (2) the Art. 88, of the item d) - g) parts (2) the Art. 92, of the item e) and h) parts (1) the Art. 94, parts (2) Art. 95 of the Directive No. 2013/36/EU of June 26, 2013 the European Parliament and Council about access to the activities of credit institutes and prudential supervision of the activities of credit institutes and investment firms changing the Directive No. 2002/87/EU and canceling Directives No. 2006/48/EU and No. 2006/49/EU, published in the Official magazine of the European Union by L 176 of June 26, 2013 with the last changes made by the Directive (EU) 2018/843 European Parliament and Council of May 30, 2018.

Based on the item c) parts (1) Art. 27 of the Law on National Bank of Moldova No. 548/1995 (The official monitor of the Republic of Moldova, 1955, No. 56-57, the Art. 624), with subsequent changes, and the Art. 38, 39, 43 and parts (5) Art. 44 of the Law on activities of banks No. 202/2017 (The official monitor of the Republic of Moldova, 2017, No. 434-439, the Art. 727), with subsequent changes, the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about bases of management of activities of banks according to appendix.

2. Recognize invalid the Regulations about bases of management of activities of bank approved by the Resolution on approval and recognition voided some regulations of National Bank of Moldova No. 146/2017 (The official monitor of the Republic of Moldova, 2017, No. 201-213, to the Art. 1183) registered in the Ministry of Justice at No. 1229 of June 14, 2017.

3. On the date of entry into force of this resolution banks will have the bases of management of activities corresponding to provisions of the regulations specified in Item 1.

4. Without prejudice to provisions of item 5-6 this resolution becomes effective within 3 months from the date of publication in the Official monitor of the Republic of Moldova.

5. Till April 30, 2019 to provide to banks the first reporting on process of assessment of conformity of domestic capital (ICAAP) as of December 31, 2018.

6. To banks within 9 months from the date of entry into force of this resolution to estimate compliance at the collective level of members of council of bank according to the requirement provided in Item 15 of the regulations specified in Item 1, using the criteria for evaluation of independence of the member of council of bank provided in Items 16 and 17 of the regulations specified in Item 1, and to take necessary measures for compliance of bank to the requirement provided in Item 15 of the regulations specified in Item 1.

Chairman of Executive committee of National Bank of Moldova

Octavian to Armash

Appendix

to the Resolution of Executive committee of National Bank of Moldova of December 20, 2018 No. 322

Regulations about bases of management of activities of banks

Section I General provisions

Chapter I. Scope

1. These regulations are applied to banks of the Republic of Moldova and departments of banks of the foreign states opened in the territory of the Republic of Moldova and establish bases of management of their activities for ensuring effective and provident risk management.

2. The bank department of foreign state opened in the territory of the Republic of Moldova can be guided by politicians about bases of management of activities which regulate activities of parent society with condition of observance of the requirements established by the legislation of the Republic of Moldova and these regulations. Otherwise, the management of bank department of foreign state shall establish own politicians and estimate any decisions or practicians at the level of group to be convinced that they do not lead to violation of provisions of the legislation of the Republic of Moldova by department or the prudential rules applied in the territory of the Republic of Moldova.

Chapter II. Determinations

3. The concepts and expressions used in these regulations have the values provided in the Law on activities of banks No. 202/2017 (further: Law No. 202/2017), Law on National Bank of Moldova No. 548/1995 (further: The law No. 548/1995) and the regulations of National Bank published for their accomplishment.

4. In these regulations the following terms and concepts designate:

the risk appetite - absolute level is risk also types of risks which the bank is ready to accept within the capability of risk, according to the business model for accomplishment of the strategic tasks;

statutory audit – statutory audit separate and consolidated financial statements, as necessary, provided by part (2) Art. 85 of the Law No. 202/2017;

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