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RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of May 28, 2012 No. 125

About the level of interest rates of National Bank of Moldova and regulation of required reserves

Based on article 26 of Item a) the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (Monitorul Oficial al Republicii Moldova, 1995, No. 56-57, of the Art. 624), with subsequent changes and amendments, and according to the Strategy of monetary management of National Bank of Moldova for 2010-2012 (it is approved by the Resolution of Administrative board of National Bank of Moldova No. 292 of December 29 2009), considering the Report on macroeconomic situation, May, 2012, the Administrative board of National Bank of Moldova DECIDES:

1. Keep the basic rate applied on the main short-term transactions of monetary management at the current level in the amount of 4.5% per annum.

2. Keep the following interest rates:

a) on the credits overnight in the amount of 7.5% per annum;

b) on deposits overnight in the amount of 1.5% per annum.

3. The interest rates established in Items 1 and 2, are applied from the date of entry into force of this resolution about day of entry into force of new rates.

4. Keep regulation of required reserves on the raised funds in Moldovan lei and inconvertible currencies, and also regulation of required reserves on the raised funds in freely convertible currencies at the level of 14.0% of calculation base.

5. The next meeting of Administrative board of National Bank of Moldova concerning monetary management will take place on June 28, 2012 according to the approved calendar.

6. This decision becomes effective from the date of acceptance.

Administrstivny's chairman
National council
bank of Moldova Doreen Dregutsana

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