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Ministry of Justice

Republic of Moldova

On June 4, 2018 No. 1333

RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of May 24, 2018 No. 110

About approval of Regulations about buffers of the capital of banks

Based on the item d) parts (1) the Art. 5, parts (1) the Art. 11, the item c) the Art. 27, the item and) Art. 44 of the Law on National Bank No. 548-XIII of July 21, 1995 (pereopublikovan: The official monitor of the Republic of Moldova, 2015, No. 297-300, the Art. 544), with subsequent changes and amendments, Art. 63 of the Law on activities of banks No. 202 of October 6, 2017. (The official monitor of the Republic of Moldova, 2017, No. 434-439, of the Art. 727), with subsequent changes and amendments the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about capital buffers.

2. The regulations specified in Item 1, become effective on July 30, 2018.

3. From the date of entry into force of the regulations specified in Item 1, banks will provide compliance of their activities to its requirements, and also domestic policy and regulations.

4. For application of Chapter V of these regulations, for the period till December 31, 2019, the rate of the buffer of systemic risk established by National Bank of Moldova according to part 2 of Chapter V for the podverzhennost which are in the Republic of Moldova increases by two percent points in case of banks which capital is in ownership, directly or indirectly, in the amount of more than 50% in total, persons who carry out one of the following conditions:

1) are not subjects of the financial sector;

2) are residents of the states / with the location in the states in which requirements of prudential supervision and regulation are not applied, equivalent applied in the Republic of Moldova, the acts of National Bank of Moldova determined normative;

3) are not exposed to supervision from supervisory authorities of banking sector or the capital market of the respective countries.

5. For immediate and/or indirect possessions in the capitals of the banks which are in ownership of the banks of multilateral development determined by regulations of National Bank of Moldova, the criteria listed in Item 4, are not applied.

Chairman of Executive committee of National Bank of Moldova

Serdzhiu Chokl

Approved by the Resolution of Executive committee of National Bank of Moldova of May 24, 2018, No. 110

Regulations about capital buffers

These regulations realize:

- Art. 128-131, of the Art. 133, the Art. 134, the Art. 136, Art. 137 and Art. 139-142 of the Directive No. 2013/36/EU of the European Parliament and Council of June 26, 2013 about access to the activities of credit institutes and prudential supervision of credit institutes and investment firms making changes to the Directive 2002/87/CE and canceling directives 2006/48/EU and 2006/49/EU published in the Statement of the European Union No. L 176 of June 27 2013, and modified last time by the Directive (EU) 2015/2366 European Parliament and Council of November 25, 2015 about payment services within the domestic market making changes to directives 2002/65/CE, 2009/110/ES and 2013/36/ES and Regulations (EU) No. 1093/2010, and cancellation of the Directive 2007/64/EU published in the Statement of the European Union No. L 337/35 of December 23, 2015;

- Art. 1, pkt. 1, 2, pkt.4-8, Art. 2 (1) - (6), Art. 3 (1), (3) and (4) the delegated regulations of the Commission (EU) No. 1152/2014 of June 4, 2014 about amendment of the Directive 2013/36/UE of the European Parliament and Council on the regulating technical standards relating to determination of geographical arrangement of the corresponding podverzhennost from the credits for the purpose of calculation of rates of the counter-cyclical buffer of the capital inherent in organization, published in the Statement of the European Union No. L 309/5 of October 30, 2014.

Chapter I. General provisions

Part 1. Determinations

1. These regulations are applied to banks with the location in the Republic of Moldova and to departments of banks from other states licensed by National Bank Moldova (further - banks). These regulations are applied both on individual, and at the consolidated level.

2. In these regulations the concepts determined by the Law on credit societies No. 202 of October 6, 2017 are used (The official monitor of the Republic of Moldova, 2017, No. 434-439, the Art. 727).

3. Also for the purpose of these regulations the following concepts are used:

the buffer of preservation of the capital – own means which the bank shall support according to Chapter II;

the counter-cyclical buffer of the capital inherent in bank – own means which the bank shall support according to part 2 of Chapter III;

the capital buffer relating to society of system value (O-SII buffer) - own means which the bank like O-SII determined so by National Bank of Moldova can be shall support them according to part 2 of Chapter IV;

the buffer of systemic risk - own means which the bank shall or can be shall support them according to part 1 of Chapter V;

the requirement for the combined buffer - set of the main own means of the first level necessary for banks for accomplishment of the requirement for the buffer of preservation of the capital plus the following buffers, as necessary:

1) counter-cyclical buffer of the capital inherent in bank;

2) O-SII buffer;

3) buffer of systemic risk;

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